Govt to Extend Freeport's IUPK for Three Months

Annisa ayu artanti    •    09 Oktober 2017 19:57 WIB
Govt to Extend Freeport's IUPK for Three Months
Energy and Mineral Resources Minister (ESDM) Ignasius Jonan (Photo:MI/Panca Syurkani), Jakarta: Indonesia's Energy and Mineral Resources (ESDM) Ministry will extend Freeport Indonesia's special mining business license (IUPK) for three months.

"The current IUPK will expire on October 10," said ESDM Minister Ignasius Jonan at the Parliament Building complex on Monday afternoon.

The license will be needed to acquire permit to export concentrate. It will be issued amid tight negotiations between the Indonesian government and Freeport-McMoran.

"It is one of the reuquirements," said EsDM Ministry mineral and coal director general Bambang Gatot.

The mining company will build a smelter in Gresik City. It will start the construction in the near future.

"The environmental impact assessment is still on going," said  the ESDM Ministry official.