The decision to stop raw copper exports was made based on the progress of smelter constructions in Gresik district, East Java province, and West Nusa Tenggara province, which has reached more than 50 percent.

Jakarta (Indonesia Window) – Indonesian President Joko Widodo has said that he will soon announce a policy to stop raw copper exports, following a similar one that has been in effect for nickel and that for bauxite would take effect by next June.

The head of state made the remarks at the Mandiri Investment Forum 2023, at the Ballroom of the Fairmont Hotel in Jakarta on Wednesday (Feb. 1), according to the Indonesian Cabinet Secretariat in its written statement as quoted by Indonesia Window on Thursday.

“(The exports) of nickel have stopped. I said again last December that (exports of raw) bauxite will stop in June. I will soon announce again that raw copper exports will stop this year," the president said.

The head of state revealed that the decision to stop raw copper exports was based on the progress of smelter constructions in Gresik district, East Java province and West Nusa Tenggara province, which has reached more than 50 percent.

"I checked yesterday that the constructions of the Freeport smelter and the smelter in West Nusa Tenggara have been more than 50 percent finished. The Freeport (smelter) is already 51 percent finished. So, we dare to stop it," he said.

The president added that Indonesia has now become the majority shareholder of PT Freeport Indonesia, a company engaged in the exploration, mining, processing and marketing of copper, gold and silver concentrates in the highlands of Tembagapura, Mimika, Central Papua.

The president emphasized that Indonesia would continue its mining downstream policy despite facing lawsuits from other countries.

The downstream policy would make Indonesia jump from a developing to developed country, he added, hoping that consistency in implementing downstream policies would increase Indonesia's per capita income.

"We hope that in 2045, our gross domestic product (GDP) would be at my estimate of 9-11 trillion U.S. dollars. If we are consistent, our per capita income would be at 21-29 thousand dollars, so we would be a developed country," he explained.

Previously, the president said that the government was designing a grand strategy for Indonesia to make it leapfrog into a developed country and not get stuck in a trap of a middle-income country.

That big strategy is to create an electric car and electric vehicle (EV) battery ecosystem so that other countries would have dependence on Indonesia, the president said at the Commemoration of the 8th Anniversary of the Indonesian Solidarity Party (PSI) in Jakarta, Tuesday (31 /1).

Reporting by Indonesia Window