01 February 2023
PT Freeport Indonesia (PTFI) has ascertained work on the copper concentrate smelter project located in the JIIPE Special Economic Zone (KEK) in Gresik, East Java achieved 51.7 percent progress early this year. PTFI President Director Tony Wenas says project progress in development of the smelter with a capacity of 1.7 million dry metric ton (dmt) is consistent with the timeline that has its completion date in 2023. “We are on track, as of this time, 51.7 percent progress has been achieved, and by the end of 2023 physical construction will have been 100 percent completed,” Tony stated during a visit to Wisma Bisnis Indonesia in Jakarta, on Wednesday (1/2/2023).
Subsequently, Tony said, the commercial operation date (COD) of the expanded smelter will come into effect in May 2024. He said it will take around 5 months following completion of physical construction of the smelter for commercial operation to begin. “This will be the biggest single line copper smelter in the world, 1 month alone will not suffice for the commissioning period,” he said. PTFI is prepared to participate in the coming copper downstreaming effort.
Meanwhile, President Joko Widodo or Jokowi has reiterated he will still stop copper concentrate exports this year. Jokowi reached this decision after checking the smelter development projects of PTFI and PT Amman Mineral Nusa Tenggara (AMNT), which have achieved more than 50 percent progress. “Soon I will be making an announcement to stop copper exports this year, as I have checked Freeport’s smelter and the smelter in West Nusa Tenggara [AMNT] and they have made more than 50% progress, and that is why we are encouraged to stop (exports).” Jokowi stated during the opening of the Mandiri Investment Forum event in Jakarta, on Wednesday (1/2/2023).
Indeed, Jokowi jocularly asserted the world’s biggest gold mining company now belongs to Indonesia. As such, he wants all relevant stakeholders not to be concerned over the proposed moratorium on copper concentrate exports. “Bear in mind we have majority ownership of Freeport, so do not think Freeport belongs to America, we own the majority now,” he said.
Currently the Indonesian government holds 51.2 percent of shares in PTFI, with the remainder held by FCX. The government’s stake is comprised of 26.24 percent owned by PT Inalum and 25 percent by PT Indonesia Papua Metal dan Mineral (IPMM).
PTFI has allocated additional investment amounting to US$ 18.6 billion or equivalent to Rp 283.76 trillion for the company’s development of its copper mining operation and downstream copper production for the 2021 through 2041 period.
This relatively massive investment is being made following calculations revealing the company’s ore reserves are projected to continue until 2052. Indeed, according PTFI estimates, the ore resources potential capacity for development is around 3 billion tons.
Kami menghimbau para pencari kerja untuk berhati-hati dan mewaspadai beragam modus penipuan perekrutan yang mengatasnamakan PT Freeport Indonesia. Dalam setiap proses rekrutmen dan penerimaan karyawan, PT Freeport Indonesia maupun konsultan rekruitmennya tidak memungut biaya apapun.
Untuk melihat lowongan, silakan akses melalui link berikut: ptfi e-recruitment
Untuk melihat informasi magang, silakan akses melalui link berikut: Internship Program
