The Indonesian branch of the leading international mining company Freeport-McMoRan announced that the Indonesian government has extended the validity of licenses for exporters until March 19, 2023, which will be used to export copper concentrate of 2 million tons per year.

The company mainly mines copper concentrate, gold, and silver at its mines in Papua, Indonesia.

It produced around 173,000 tons of copper in the first quarter of this year. In addition, the company was expected to produce roughly 727,700 tons of copper and 1.6 million ounces of gold in the next five years on average per year.