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Freeport is applying for an export permit due to a fire in the gas purification unit at a newly built smelter in Gresik, East Java, last October, which forced the suspension of copper cathode production. Tony Wenas, CEO of Freeport Indonesia, said, "Our annual business plan was approved yesterday, and we hope to receive the export recommendation from the Ministry of Energy and Mineral Resources today. If approved today, we will immediately apply for the export permit from the Ministry of Trade."
Wenas stated that under the revised business plan, Freeport seeks to export 1.2 million mt of concentrates, but the Ministry of Energy and Mineral Resources has yet to decide on the actual export quota.
An official from the Ministry of Energy and Mineral Resources said they are evaluating the application.
The company currently has an inventory of 400,000 mt of copper concentrates ready for export once the permit is obtained. Wenas said, "We have five to six ships on standby. Once the export recommendation is issued, we hope customs will allow us to load the ships. As soon as the export permit is granted, we can set sail."
Freeport previously stated that due to increased inventory, its mining operations are running at only 40% capacity. The miner has lowered its 2025 concentrate production target by nearly 10% to 3.29 million mt, with a copper production target of 1.67 billion pounds (757,499 mt), down from last year's production of 1.8 billion pounds. Production in 2026 is expected to further decline to 3.15 million mt of concentrates and 1.58 billion pounds of copper.
For more updates on the copper industry chain, you are cordially invited to attend the CCI 2025 SMM (20th) Copper Industry Conference and Copper Industry Expo hosted by SMM, which will be grandly held in Nanchang, Jiangxi, from April 22-25, 2025.
Over 3,000 industry elites, representatives from upstream and downstream enterprises in the copper industry chain, government officials, industry associations, third-party equipment providers, logistics and warehousing companies, as well as academic and research experts, will gather at the event. The conference will cover the entire copper industry chain, including mining, smelting, copper processing, trade, recycling, and end-use applications.
At the conference, more than 100 exhibitors will showcase the latest copper processing and smelting equipment, high-quality raw material suppliers, new-type copper-based materials, and other cutting-edge achievements in the copper industry, highlighting innovation and vitality in the sector.
The event will feature a variety of activities: the main forum will focus on global copper market trends, raw material supply, policy analysis, and market insights. Sub-forums will delve into specific fields such as electrical transmission and distribution, secondary copper, new copper-based materials, hardware and plumbing, and ESS, exploring industry hot topics in depth. During the conference, there will also be a two-day field trip to 12 representative enterprises in the copper industry, with a cumulative capacity of 1 million mt, to share advanced technologies and valuable experiences, supporting the upgrade of the copper industry chain and promoting high-quality development in the sector.
The CCI 2025 SMM (20th) Copper Industry Conference and Copper Industry Expo will help you grasp industry trends, expand your network, and explore business opportunities! SMM warmly invites you to join us in Nanchang, Jiangxi, from April 22-25, 2025, to gather for a new era of copper and seek new development opportunities!
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