Indonesia is preparing to put an end to the export of copper concentrates as soon as the smelters being constructed by Freeport Indonesia and Amman Mineral Internasional are completed next year. President Joko Widodo announced on Tuesday that once these major companies finish building their smelters, raw copper will no longer be exported but instead processed domestically into copper cathodes. He expects both facilities to commence production in May 2024.
Following its focus on nickel, Indonesia is now turning its attention to copper as it strives to enhance onshore refining and ascend the commodities value chain. The government’s plans for an export ban have faced multiple delays due to the local unit of Freeport McMoRan Inc., the world’s leading copper producer, seeking extensions for the construction of a smelter that was initiated in 2021.
To bridge the gap until the smelters are fully operational, Indonesia recently granted export recommendations to both Freeport and Amman, allowing them to continue shipping copper concentrates until their respective smelting facilities are completed.
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