Jakarta. Amman Mineral Nusa Tenggara (AMNT), a subsidiary of Amman Mineral Internasional (AMMAN), has received a permit from the Trade Ministry to export copper concentrate.

The export quota is set at 587,330 wet metric tons (WMT), equivalent to 534,000 dry metric tons (DMT), and is valid until December 31, 2024.

AMNT President Director Rachmat Makkasau stated that the quota aligns with the submission made in the 2024 work plan and budget.

"We appreciate the government's support, which enables AMNT to resume copper concentrate exports. This export permit will strengthen the company's financial position, especially as we incur high capital expenditures for various expansion projects to support smelter operations," Rachmat said in a statement on Thursday.

The granting of the export permit is in line with the progress of the copper smelter project, built by Amman Mineral Industri (AMIN), which is on track with government targets. According to third-party independent verification, the project reached mechanical completion as of May 31, 2024, with a progress rate of 95.5 percent. Commissioning of the main smelter facilities began shortly thereafter, with the first production of copper cathodes targeted for the fourth quarter of 2024.

AMMAN's copper smelter facility has a total input capacity of up to 900 kilotons per annum (KTPA) of concentrate from the Batu Hijau mine and the future Elang mine. The refining process will produce 222 KTPA of copper cathodes, approximately 18 tons of gold, 55 tons of silver, and around 830,000 tons of sulfuric acid per year.

The Indonesian government stopped the export of unprocessed copper ores last year to promote domestic processing of raw materials as part of the country's industrialization drive. However, the government granted Amman an exemption as the company is building a smelter to process raw copper.