DIGIVESTASI - PT Freeport Indonesia (PTFI) said the company's copper concentrate production this year is estimated to reach 3.7 million tons. This follows the granting of an extension of the copper concentrate export permit until December 31, 2024.  Freeport Indonesia Executive Vice President Jenpino Ngabdi said that the company is still waiting for the export approval letter issued by the government. But certainly, the realization of the company's copper concentrate production throughout 2023 reached 3.4 million tons. 

Jenpino said in a hearing with Commission VI, quoted on Tuesday (6 April 2024), “The 2024 production plan is 2.8 million tons without an export permit and is expected to reach 3.7 million tons if there is an export permit. “ 

In terms of daily ore output, Jenpino said that the company produced 201,000 tons/day throughout 2023. He said, based on the 2024 Work Plan and Budget (RKAB), PTFI targets daily copper ore production of 173,000 mt/day assuming it does not get relaxation of the copper ore export permit. 

Meanwhile, if the export permit is extended, Freeport sets a copper ore production target of 211,000 tons/day based on the revised 2024 RKAB.  

In addition, the target volume of copper produced by Freeport this year is 1.4 million pounds if the export license is not obtained and 1.72 million pounds if there is export relaxation. During 2023, the company produces 1.67 million pounds of copper.  

For the gold commodity, Freeport targets production of 1.8 million ounces in 2024 under the condition of extending the export license. Meanwhile, without an export license, PTFI's gold production only reaches the target of 1.6 million ounces. Last year, gold production reached 1.96 million ounces. 

For silver, the company targets silver production in 2024 to reach 6.4 million ounces if it receives an export license. Meanwhile, the silver production plan in 2024 amounted to 5 million ounces with a scenario that no relaxation of export licenses was carried out. The company's silver production until 2023 reached 6.1 million ounces. “We thank the government for considering the extension of the export license from June to December 2024, we are waiting for this export license to come out,” he said.

Find more news and articles on Google News