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Jakarta Post

Freeport seeks to double export quota this year

  • Stefanno Reinard Sulaiman

    The Jakarta Post

  /   Fri, July 26 2019   /  02:38 am

Gold and copper miner PT Freeport Indonesia (PTFI) is seeking to double its concentrate export quota this year as the company is looking to increase output from Grasberg, the world’s largest gold mine and second-largest copper mine.PTFI expects the government to approve its request for a bigger export quota in the third quarter. The expectation came after the company opened an additional mining area in the Grasberg open pit in the second quarter as it enters the final phase of mining the open pit. “PTFI will continue to monitor geotechnical conditions to determine the extent of mining in the Grasberg open pit,” US mining giant Freeport-McMoRan (FCX), which owns a 48.76 percent stake in PTFI, wrote in a statement on Wednesday.The transition from open pit to underground mine is taking place this year and is expected to produce large scale quantities of copper and gold from the high-g...