Singapore, October 29th (Argus) - Indonesian mining company AMNT (Anambas Mining) is expected to obtain a copper concentrate export license as its Batu Hijau copper smelter in West Sumbawa has suffered an unforeseen event.
Indonesia has banned copper concentrate exports in 2023, but the government has agreed to allow AMNT to resume exports as the company announced this week that the smelter suffered an unforeseen event due to damage to the flash conversion furnace (FCF) unit. AMNT declined to comment.
The company's previous export license expired at the end of 2024. Earlier this year, after a fire occurred at its smelter, AMNT had already applied for a new license.
The by-product sulfuric acid capacity of the smelter is 830,000 tons per year, supplying Indonesian buyers such as Pupuk Indonesia's subsidiary Petrokimia Gresik.
The shutdown of the smelter will significantly tighten the domestic sulfuric acid supply in Indonesia. Copper miner Freeport Indonesia (PTFI)'s Manyar smelter also closed in early October due to a shortage of copper concentrate, as its Grasberg mine suffered an unforeseen event at the end of September.
The shutdown of the smelter may push sulfuric acid regular contract buyers such as Petrokimia Gresik to the spot market. The company booked a batch of goods at an auction price of approximately $105 per ton in the week ending October 26th. It is looking for 60,000 tons of sulfuric acid to be delivered to Gresik in November and December, and is expected to issue a new auction to seek a larger quantity.
