The Trade Ministry has issued a permit allowing PT Freeport Indonesia

to export its supply of copper concentrate, as the mining giant

continues to settle its differences with the government on matters
relating to the conversion of a Contract of Work (CoW) signed in 1991
into a special mining license (IUPK).

The export permit will be effective up to Feb. 16, 2018.

The letter [permit] for export has been issued. The company can now
collect its license, said Trade Ministrys oversea trade directorate
general Oke Nurwan as reported by tempo.co on Tuesday.

(Read also: Freeport submits proposal to obtain export permit)

Oke said Freeport proposed the export extension on April 21. The
ministry is allowing the company to export 1.13 million tons of
concentrate for a year. The permit was issued after the Energy and
Mineral Resources Ministry issued an IUPK on Feb. 10.

Representatives of both Freeport and the government are currently in

the process of negotiating certain aspects of the IUPK, including the
development of a smelter and the sustainability of the companys
business in the country.

Last year, the company reportedly exported `1.17 million tons of

copper concentrate to several countries, including Japan, South Korea,
China, India and the Philippines.

Meanwhile, Freeport Indonesia spokesman Riza Pratama said the miner

will gradually increase its output, after production ceased due to the
governments ban on its exports when Freeport rejected the conversion
of its CoW into an IUPK. (bbn)