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Today's Headlines Copper Export

  • Copper Export Permit Newmont Nusa Tenggara Expired, Waiting for Extension

    Export Permit Newmont Nusa Tenggara Expired, Waiting for Extension

    Business activities at Newmont Nusa Tenggara (NNT), one of Indonesia’s largest copper miners, could be disrupted as the subsidiary of US-based mining company Newmont Mining Corp is yet to obtain a recommendation letter (from Indonesia's Energy and Mineral Resources Ministry) to renew its 6-month copper concentrate export permit (which expired on 20 May 2016). The recommendation from the Energy Ministry is needed to obtain the export permit from Indonesia's Trade Ministry.

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  • Newmont Nusa Tenggara Asks for Copper Concentrate Export Permit Extension

    Newmont Nusa Tenggara Asks for Copper Concentrate Export Permit Extension

    Copper and gold miner Newmont Nusa Tenggara, the local unit of US-based mining giant Newmont Mining Corp, requested for a new recommendation letter from Indonesia's Energy and Mineral Resources Ministry. This recommendation letter is required to extend Newmont's six-month copper concentrate export permit at the nation's Trade Ministry. This would be the fourth time Newmont's export permit is extended. Whether Indonesia's Energy and Mineral Resources Ministry issues the export recommendation letter depends on progress made with the construction of smelting facilities.

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  • Trouble between the Government & Freeport Indonesia Resumes

    Trouble between the Government & Freeport Indonesia Resumes

    There is still the possibility that Freeport Indonesia, subsidiary of US-based natural resources company Freeport McMoRan Copper & Gold Inc, will not be allowed to continue exporting copper concentrate. The existing export permit expires on Thursday (28/01) and the Indonesian government is seemingly unwilling to renew the 6-month permit as Freeport has still not send the USD $530 million deposit for the development of a new smelter. Freeport, on the other hand, says this deposit is not in line with existing agreements.

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  • Mining in Indonesia: Newmont Nusa Tenggara to Resume Copper Concentrate Export

    Mining in Indonesia: Newmont Nusa Tenggara to Resume Copper Concentrate Export

    Indonesia's Ministry of Energy and Mineral Resources issued an export recommendation letter for copper and gold miner Newmont Nusa Tenggara (NNT), meaning that the company can resume copper concentrate exports for another six-month period after the previous permit expired on 22 September. Bambang Gatot, Director General for Coal and Minerals at the Energy Ministry, said NNT has met all requirements - including those related to NNT's commitment to establish domestic smelting facilities - in order to obtain the export recommendation letter.

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  • 2009 Mining Law Indonesia: No Copper Concentrate Export Extension for Newmont

    2009 Mining Law Indonesia: No Copper Concentrate Export Extension for Newmont

    As Indonesia’s Ministry of Energy and Mineral Resources declined to issue a recommendation for the extension of Newmont Nusa Tenggara’s export permit, operations at the Batu Hijau mine (an open-pit gold and copper mine located on the island of Sumbawa in the eastern part of Indonesia) have become uncertain. The six-month permit for copper concentrate exports of copper miner Newmont Nusa Tenggara, a unit of US-based Newmont Mining Corp, expired on Friday (18/09) and was not extended as the company failed to fulfill the government’s requirements regarding smelter development.

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  • Freeport Indonesia: Copper Export Ceased & another Fatal Accident

    Freeport Indonesia: Copper Export Ceased & another Fatal Accident

    Today, Freeport Indonesia and the Indonesian government will continue negotiations regarding the miner’s request to export 575,000 tons of copper over the next six months. Freeport’s previous export permit expired on 25 July and as the local unit of US mining giant Freeport McMoRan has not yet met demands of the government it failed to get an extension for copper concentrate exports. As a result, shares of parent company Freeport McMoran Inc. tumbled 9.90 percent on the New York Stock Exchange on Friday (24/07).

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  • Newmont Nusa Tenggara and Indonesian Government Signed MoU

    The Chief Executive at Newmont Nusa Tenggara, Martiono Hadianto, said that on Wednesday evening (03/09) a Memorandum of Understanding (MoU) has been signed between the USA- based mining giant and the Indonesian government after an 8-month dispute over the country’s ban on exports of mineral ore (implemented on 12 January 2014). The mining company can now resume copper concentrate exports next week. Earlier this week it had been announced that both sides would come to an agreement.

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  • Mining in Indonesia: Newmont and Government Agree on Renegotiations

    The Indonesian government and Newmont Nusa Tenggara (NNT) have reportedly agreed on the content of a renegotiation package after an 8-month dispute over the mineral ore export ban. NNT, subsidiary of the USA-based Newmont Mining Corporation, will be allowed to resume copper concentrate exports up to 200,000 tons (with a value of about USD $400 million) until the end of 2014. Last week, NNT already announced it would not seek international arbitration over this matter.

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Latest Columns Copper Export

  • Freeport Indonesia Speeds up Land Acquisition to Secure Export Permit

    After the government of Indonesia threatened to revoke the export permit of Freeport Indonesia by the end of January on claims that the company fails to show its commitment to establish a new copper smelter in Southeast Asia’s largest economy, the local unit of US mining giant Freeport-McMoRan Copper & Gold (re)confirmed today that it is serious to build the smelter. Based on renegotiations between the government and Freeport Indonesia (agreed upon in July 2014), the company had been allowed to resume copper concentrate.

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  • Newmont Nusa Tenggara Resumes Copper Concentrate Exports

    Newmont Nusa Tenggara Resumes Copper Concentrate Exports

    Newmont Nusa Tenggara (NNT), subsidiary of US-based mining company Newmont Mining Corp, has received a permit from the Indonesian government to export 350,000 metric tons of copper concentrate in the next three years. Three weeks ago it became known that both parties agreed on the content of a renegotiation package after an eight-month dispute over Indonesia’s mineral ore export ban, implemented on 12 January 2014 (part of the New Mining Law). In the remainder of 2014, the company is expected to export 160,000 tons.

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  • Mining in Indonesia: Newmont Nusa Tenggara Drops Arbitration Case

    Mining in Indonesia: Newmont Nusa Tenggara Drops Arbitration Case

    Reportedly, Newmont Nusa Tenggara (NNT) will not seek international arbitration at the Centre for Settlement of Investment Disputes (ICSID) in Washington (USA). Previously, the miner threatened to file for arbitration in an attempt to force the Indonesian government to cancel the recently introduced ban on exports of unprocessed minerals as well as to abort higher export duties. NNT is a subsidiary of Newmont Mining Corporation that operates the Batu Hijau mine, an open pit copper and gold mine in Sumbawa.

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  • Export Ban Dispute Newmont Nusa Tenggara vs Indonesian Government

    Export Ban Dispute Indonesian Government vs Newmont Nusa Tenggara

    Whether Newmont Nusa Tenggara (NNT) will file for international arbitration over a six-month old export dispute with the Indonesian government remains unclear. Although many analysts would like to see international arbitration over this case, such a step would imply several risks for the copper miner (which is for 56 percent owned by US-based Newmont Mining Corporation and Japan’s Nusa Tenggara Mining Corporation). The source of the dispute is Indonesia’s recently-introduced ban on exports of ore concentrates.

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  • China Concerns: What to Expect of the Global Copper Price in 2014?

    China Concerns: What to Expect of the Global Copper Price in 2014?

    In the last 12 months, the international copper price showed a neutral movement (moving more or less sideways). This is particularly due to a number of issues in China, the world’s second largest economy, which impact negatively on the copper price movement. China has become such an important market for a variety of commodities, including copper (used in construction and electronics), that other countries can be considered almost irrelevant. Why do analysts have low expectations of the copper market for the remainder of 2014?

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