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View all search resultsHailed as one of the biggest music festivals in the country, Pestapora ended this year’s iteration on a sour note after dozens of its performers, including headliners, pulled out from its lineup following the discovery of its controversial sponsorship from mining giant PT Freeport Indonesia.
The extended maintenance shutdown at Freeport's Manyar smelter in Gresik has forced the mining giant to offload 100,000 tonnes of copper concentrate to the global market, offering timely respite amid an unprecedented shortage of the raw material.
The government has once again granted PT Freeport Indonesia (PTFI) an exemption to export copper concentrate, an unexpected decision that appears to contradict its own downstreaming policy to transition the country from raw material exports to processed goods. Included in this policy is an export ban on copper concentrate and ores, and Freeport previously received a temporary exemption from this ban while building its copper smelter in Gresik, East Java. The facility was completed in March 2024 however, and many are now questioning whether Freeport’s export privilege is to continue indefinitely.
The US mining giant says it expects to soon get final export approval for local subsidiary Freeport Indonesia, after a fire last October prompted the company to close operations and file an extension request.
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