JAKARTA: Indonesia expects US miner Newmont Mining Corp to produce 25 percent more copper and gold concentrate in 2015, a mining ministry official said, after a nine-month export stoppage hit Newmont's production in 2014.
Newmont is expected to produce 500,000 tonnes of copper and gold concentrate in 2015 "at most", up from 400,000 tonnes in 2014, coal and minerals director general Sukhyar told Reuters, adding that the firm may not reach the target.
The government is reviewing Newmont's export permit based on a pact it signed last year with Freeport, Sukhyar said, adding that Freeport McMoRan Inc's planned new smelter in Gresik, East Java, would probably have capacity to process Newmont's concentrate until 2017.
"We will call Newmont to see how they have progressed," Sukhyar said, adding that the government expected to issue the firm with a new export permit in March. "But the volume of concentrate they can export, perhaps, will need to be revised.
Comments
Comments are closed.