Indonesia will allow miners Freeport Indonesia and Amman Mineral Nusa Tenggara to continue exporting copper concentrate until next year, despite a ban starting this June, to allow for their smelters to be completed, the mining minister said on Friday.
The government is due to ban exports of raw minerals like copper and bauxite from June as part of efforts to attract investment into its metals processing industry and boost the value of its exports.
"We are pushing so these smelters development can be concluded as soon as possible," he said, adding that they are expected to be completed in May next year. While it will likely allow the extension, the government may want to increase its stake in the company, investment minister Bahlil Lahadalia told reporters at a separate briefing.
Asked about the government's wish for a larger stake in Freeport Indonesia, the company said it remained committed to following the government's directives and policies.
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