JAKARTA, Feb. 24 (Xinhua) -- Supply of copper at global market may increase as an Indonesian company will immediately resume shipment of copper overseas after it obtains permit for the exportation.
Amman Mineral Nusa Tenggara (AMNT), a unit of Medco Energy International has got export permit from Indonesian trade ministry to export 675,000 tonnes of copper concentrate, the firm said in a statement on Friday.
The company also obtained a recommendation from the energy and mineral resource ministry on February 17 to export the concentrates.
"We will immediately resume export activities and continue operation at Batu Hijau as normal," President Director of AMNT Rachmat Makkasau said in the statement, referring to East Nusa Tenggara province of central Indonesia.
The global copper supply has been halted partly from Chile and Indonesia due to strike and disputes between the government and miner.
The strike in Chile has paralyzed the world's biggest copper mine since February 10, leading the price of copper rising to a 20-month high on February 13.
PT Freeport Indonesia, a subsidiary of U.S. based Freeport McMoran, has suspended production since February 10.