China, Indonesia's Main Copper Ore Export Market in 2023

According to data from the Central Statistics Agency (BPS), in 2023 Indonesia exported 2.99 million tons of copper ore, down 4.66% year-on-year (yoy) compared to 2022.

The total value of national copper ore exports also fell by 9.92% (yoy) to US$8.32 billion.

In 2023, China was the main destination for Indonesian copper ore exports, with a volume of 684,350 tons, or 22.9% of total national exports.

Other countries that purchased significant amounts of Indonesian copper ore include Japan, South Korea, India, Spain, Germany, the Philippines, and Bulgaria.

In addition to the eight countries mentioned above, Indonesia also shipped copper ore to other countries with a combined volume of 120,030 tons.

The Indonesian government plans to ban the export of mineral concentrates, including copper. Initially, the ban was to begin in June 2024, but its implementation has been postponed until December 31, 2024.

This relaxation of mineral export permits and the postponement of the ban are regulated through the Ministry of Trade Regulation (Permendag) Number 10 of 2024.

"This relaxation of export policies and regulations is important. One of its aims is to guarantee certainty in business operations within the country," said Budi Santoso, Director General of Foreign Trade at the Ministry of Trade, as reported by Katadata.co.id on Tuesday, June 4, 2024.