Latest news with #smelter
Reuters
2 days ago
- Business
- Reuters
Indonesian minister seeks support to allow Amman to export copper concentrate
JAKARTA, July 7 (Reuters) - Indonesia's Internal Affairs Minister Tito Karnavian on Monday said he has asked the country's mining ministry to ease a copper concentrate export ban for Amman Mineral International ( opens new tab, citing its effect on the local economy. Tito said the economy of Nusa Tenggara Barat province, where Amman operates, contracted by 1.47% annually in the first quarter, and was impacted by the company's inability to export its concentrate output. Amman said in February that it had around 200,000 metric tons of concentrate inventory available for export. "I have asked the energy and mineral resources minister whether there is a possibility to allow exports while we are waiting for the smelter to be completed," Tito told a weekly government meeting without disclosing the response. Indonesia has banned exports of copper concentrates and other raw minerals to encourage metal processing at home. It was imposed from mid-2023, but Amman was allowed to export till December 2024 by when it was expected to commission a smelter to process concentrates into copper cathodes, a material used to manufacture wires, cables and electronics. Officials at the mining ministry did not immediately respond to Reuters seeking comment. In March, Amman's new smelter produced its first copper cathode. However, the smelter, which has an annual capacity to produce 220,000 metric tons of copper cathode, is yet to reach full capacity due to a number of technical constraints that needed to be addressed first, Amman spokesperson Kartika Octaviana said on Monday. She said the company has reported the issues to the government. "Government's discernment and policy flexibility, especially regarding copper concentrate sales, will greatly assist the company in maintaining financial strength while seeking to optimise the smelter," she said.
Yahoo
2 days ago
- Business
- Yahoo
Indonesia's minister requests copper concentrate export ban exemption for Amman
Indonesia's Internal Affairs Minister Tito Karnavian has urged the country's mining ministry to consider lifting the export ban on copper concentrate specifically for Amman Mineral International. This request comes in light of the negative economic impact the ban has had on the Nusa Tenggara Barat province, where Amman's operations are central to the local economy, reported Reuters. The province experienced an annual contraction of 1.47% in the first quarter, significantly influenced by Amman's inability to export its copper concentrate. In February, Amman reported having approximately 200,000 tonnes (t) of concentrate inventory ready for export. "I have asked the energy and mineral resources minister whether there is a possibility to allow exports while we are waiting for the smelter to be completed," Tito was quoted as saying during a government meeting. Indonesia's policy to ban the export of copper concentrates and other raw minerals was implemented to promote domestic metal processing. Although the ban took effect in mid-2023, Amman was granted permission to continue exporting until December 2024, aligning with the expected commissioning date of its smelter, which will process concentrates into copper cathodes. In March, the company announced the production of its first copper cathode from the new smelter. However, the 220,000tpa facility has not yet reached full capacity due to technical issues. Amman spokesperson Kartika Octaviana was quoted as saying: 'Government's discernment and policy flexibility, especially regarding copper concentrate sales, will greatly assist the company in maintaining financial strength while seeking to optimise the smelter.' In a different development, the Association of Indonesia Nickel Miners (APNI) has voiced concerns over the government's plan to shorten the validity of mining quotas from three years to one. This move, intended to regulate supply and support commodity prices, has been met with opposition from APNI, which fears it could result in bureaucratic delays and negatively affect the sector's stability. "Indonesia's minister requests copper concentrate export ban exemption for Amman" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Bloomberg
5 days ago
- Politics
- Bloomberg
American Democracy's Safety Nets Are Now Snares
The US's two-party system is accelerating extremism, Hong Kong is staging a comeback and one Australian smelter is a test case for combating China. By Save Welcome to the weekend! The US just got its first outpost of China's biggest coffee chain, whose name comes from something represented in China by the number 8. Which chain is it? Test your knowledge with the Pointed quiz.
CTV News
6 days ago
- Business
- CTV News
Major Quebec aluminum smelter announces $1.5B investment with new electricity deal
Aluminerie Alouette will invest at least $1.5 billion in its facilities in Sept-Îles over the next 20 years. An archive photo of the Aluminerie Alouette plant on Tuesday, May 21, 2019, in Sept-Îles. THE CANADIAN PRESS/Jacques Boissinot SEPT-ÎLES — The company operating a major Quebec aluminum smelter says it will invest at least $1.5 billion in its North Shore facilities over the next 20 years. Representatives of Aluminerie Alouette say the announcement is tied to an agreement in principle with the province's hydro utility on electricity rates until Dec. 31, 2045. At a news conference in Sept-Îles, Que., the company said it has committed to investing $750 million by 2030, for a total of at least $1.5 billion by 2045. Quebec Premier François Legault told the news conference the electricity deal is a positive sign for an industry that has been hit by 50 per cent tariffs on imports to the U.S. The government says the agreement allows Hydro-Québec to share in the profits when aluminum prices are high, and permits the company to stay competitive when market prices for the metal drop. The smelter employs approximately 950 people and has an annual production capacity of 630,000 tons of aluminum, representing 20 per cent of the aluminum produced in the province. Multinational Rio Tinto is the main shareholder with a 40 per cent stake in the company. --- This report by The Canadian Press was first published July 4, 2025.
Yahoo
6 days ago
- Business
- Yahoo
Major Quebec aluminum smelter announces $1.5B investment with new electricity deal
SEPT-ÎLES — The company operating a major Quebec aluminum smelter says it will invest at least $1.5 billion in its North Shore facilities over the next 20 years. Representatives of Aluminerie Alouette say the announcement is tied to an agreement in principle with the province's hydro utility on electricity rates until Dec. 31, 2045. At a news conference in Sept-Îles, Que., the company said it has committed to investing $750 million by 2030, for a total of at least $1.5 billion by 2045. Quebec Premier François Legault told the news conference the electricity deal is a positive sign for an industry that has been hit by 50 per cent tariffs on imports to the U.S. The government says the agreement allows Hydro-Québec to share in the profits when aluminum prices are high, and permits the company to stay competitive when market prices for the metal drop. The smelter employs approximately 950 people and has an annual production capacity of 630,000 tons of aluminum, representing 20 per cent of the aluminum produced in the province. Multinational Rio Tinto is the main shareholder with a 40 per cent stake in the company. This report by The Canadian Press was first published July 4, 2025. The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
