The mining ministry in Indonesia has recommended renewing the export licence for the local unit of Newmont Mining to continue copper concentrate exports for the next six months.
Reuters reports that Coal and Minerals Director General Bambang Gatot told reporters that Newmont’s Indonesian unit PT Newmont Nusa Tenggara (NNT) would be allowed to export up to 419,757 tonnes of copper concentrate from its Batu Hijau mine in eastern Indonesia.
PT NNT president director Rachmat Makkasau said the allocated export quota was “in accordance with original plans”.
He said NTT was targeting production of approximately 700,000 tonnes of copper concentrate this year but added that no decision had been made on the sale of NNT.
Indonesian state miners and Indonesian businessman Arifin Panigoro have expressed an interest in buying the majority of PT NNT, in a deal that could be worth up to US$2 billion.
Rachmat Makkasau said, “The shareholders are in continuing communication with interested parties and until now there has been no final decision.”
NNT’s shareholders include Japan’s Sumitomo Corp and Indonesia’s PT Bumi Resources Minerals Tbk.