Freeport Indonesia awaits export permit as copper concentrate piles up

Freeport's export permit expired on June 10, when Indonesia began its raw mineral export ban and the company has not made any shipments since. - The Jakarta Post

JAKARTA (Reuters): Copper miner PT Freeport Indonesia, a unit of Freeport-McMoran, said on Thursday (July 6) it has not yet obtained a government permit to continue exporting its materials, risking overcapacity at its storage facilities in the eastern region of Papua.

Indonesia in June banned exports of raw minerals to attract investment into its metals processing industry and boost the value of its exports, but said it would allow several companies including Freeport to continue exporting until mid-2024.