Freeport denies output delay

JAKARTA (JP): Copper and gold mining company PT Freeport Indonesia denied on Wednesday that it was delaying its plan to increase ore output to 300,000 tons per day (tpd) because of a slump in metal prices.

"Our current production is on schedule with plans to ultimately produce up to a maximum of 300,000 ton per day (tpd) of ore, as approved by the government," company vice president for public affairs Yuli Ismartono said in a statement responding to a report in The Jakarta Post on Wednesday.

The Post's conclusion was based on comments by Freeport president Adrianto Machribie in a news conference on Tuesday.

"Although the government has given us a license to produce up to 300,000 tpd of ore, we consider the 240,000 tpd output level is enough for now amid the slump in metal prices," Machribie said when asked why the company had yet to realize its 300,000 tpd expansion plan. (jsk)