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Indonesia hikes Freeport's copper export quota to 700,000 tonnes

Indonesia's Energy and Mineral Resources Ministry increased Freeport-McMoRan Inc.'s copper concentrate export quota to 700,000 wet tonnes from 198,282 wet tonnes previously, The Jakarta Post reported Sept. 13 citing the ministry's minerals director, Yunus Saefulhak.

Saefulhak said this comes as a result of successful optimization programs at the Grasberg copper-gold mine in the country's Papua province.

However, he added that the move will not change Freeport's overall copper production target of about 1.3 million tonnes for 2019.

The quota increase is seen as an amendment to the company's one-year copper export license, which was renewed in March.