Oleh R.M. Goenawan, Selasa, 2 Februari 2016 | 17:02 WIB - Redaktur: Filmon Warouw - 643
Jakarta, InfoPublik – Indonesian Ministry of Energy and Mineral Resources (ESDM) awaits PT Freeport Indonesia's commitment to meet the requirements to obtain license renewal for copper concentrate export. One of the requirements is to put US$530 million of surety bond.
"Freeport has expressed willingness to be cooperative towards the requirements that must be met. Hence, up to this moment ESDM has not received detailed information concerning concerning the matter. We are still waiting," said the Ministry’s Director General of Mineral and Coal, Bambang Gatot in Jakarta, Monday (1/2).
Mr. Gatot added that another requirement to be met is that the imposition of 5% export duty. Supposedly for Freeport’s export license extension for the next six months is not subject to export duty due to the progress of the construction of mineral processing and refining facilities (smelter) which has reached 30%. However, since the evaluation results stated that smelter progress was only 14%, the export tax remained imposed at 5%.
Freeport’s export licenses had ended on January 28. The government provides an export license for six months period which can be extended for another six months. Extension will be given by refering to smelter development progress. Freeport is building a smelter in Gresik, East Java with an investment of US$2.1 billion. The smelter has a capacity of raw materials reaching 2 million tons of copper concentrate. (Translator: Penni Patmawati Rusman)
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