The company said Indonesian mining company PT Amman Mineral Nusa Tenggara had obtained a permit from the government to export 900,000 metric tons of wet copper concentrate by May next year.

The company said in a statement issued late Monday that Amman, a subsidiary of PT Amman Mineral Internasional Tbk, obtained a license valid from July 24, 2023 to May 31, 2024.

Indonesia banned the export of raw minerals such as copper and bauxite starting in June this year to attract investment in the mineral processing industry.

However, the government has granted temporary exemptions to several companies such as Oman and Freeport Indonesia to allow them to complete construction of their smelters that were delayed due to the pandemic.

"We are targeting the smelter to be completed by the end of May 2024, which is the expiration date for the current export license," said Rahmat Makasso, President of Oman, adding that the copper smelter in West Nusa Tenggara is almost 60% complete.

The company added, based on this progress, copper concentrate shipments in Oman will be subject to an export tax of 10%.

Oman Mineral International Tbk raised 10.73 trillion rupiah ($714.38 million) in an initial public offering on July 7, Indonesia's largest this year.

The company plans to use the funds to fund several projects, including a $980 million copper smelter. ($1 = Rs. 15,020,000) (Reporting by Ananda Theresia and Bernadette Christina; Editing by Kanupriya Kapoor)

Image source: Bali Citizen

Source: https://balicitizen.com/indonesia-beri-oman-izin-ekspor-mineral-yang-berlaku-hingga-mei-2024/