Copper miner PT Freeport’s export quota issued by the Indonesian government has been lowered by 84% year on year, officials from the country’s Ministry of Energy and Mineral Resources said on Friday March 8.
Under its new export license, Freeport can export 198,282 wet tonnes of copper concentrates this year, compared with 1.25 million tonnes last year. The volume drop was mainly attributed to the significant production fall at the world’s second largest copper mine, Grasberg, which is expected to start from the first half of 2019 when operations transition from open pit to underground mining, the company said in its annual report.
