30 September 2022
PT Freeport Indonesia’s IUPK special mining operation license to mine the Grasberg Mine in Timika Regency, Papua is only slated to end in 2041. Energy and Mineral Resources (ESDM) Minister Arifin Tasrif believes no other company has the capability to operate the mine. "PTFI is the only company able to operate the mine. If its permit is not renewed, who will continue the job? In the event that massive reserves remain and there is no one else to operate the mine as 2041 approaches," he queried when reached at the Sarulla Room in the ESDM Ministry offices on Friday (30/9).
As such he hopes Freeport will continue to operate the Grasberg mine. Moreover, he says, the mineral potential remaining is vast and economic. “The potential remains highly economic beyond 2041,” Arifin said.
PTFI is transitioning its mineral production from open pit mining to underground mining. Freeport’s open pit had become too wide and deep and was deemed to be unsafe and would be too costly for production there to continue.
PTFI President Director Tony Wenas says the company has the capacity to produce 500,000 tons of copper concentrate per year. “It is my hope that more and more downstream industries emerge. With PTFI willing to produce copper cathodes, other industries must emerge in Indonesia that will use copper,” Tony stated when he was reached after attending a hearing with the House of Representatives Commission IV on Tuesday (27/9).
At this time PT Freeport Indonesia has around 1.8 billion in proven mineral reserves in hand. Mineral production currently approximates 150,000 tons per day. Based on these numbers, the copper and gold mine located in Grasberg, Papua is expected to maintain production until 2051.
In 2021, Freeport Indonesia was able to produce 1.37 million ounces of gold. This was equivalent to a 62% increase in gold production compared with the previous year figure of 848 thousand ounces in 2020. Looking back over the past decade, Freeport Indonesia gold production reached a high of 2.69 million ounces in 2018. It was also in 2018 that Indonesia took over the majority stake in the company from Freeport-McMoRan.
After 2018, Freeport Indonesia’s gold production dropped drastically. The decline was attributed to depletion of the deposit at the Grasberg open pit, whereas the company’s underground mining was yet to enter full operation. The Grasberg mine produced 1.34 billion pounds of copper in 2021, less than Freeport-McMoRan’s production volume of 1.46 billion pounds of copper from its North American operations.
Recently, Freeport achieved 1,05 billion pounds in copper production from its South American operations. This means Freeport-McMoRan achieved a total of 3.84 billion pounds in copper production in 2021. In the USA, Freeport operates seven mines located in two state, Arizona, and New Mexico. The Morenci, Bagdad, Safford, Sierrita, and Miami mines are located in Arizona. Meanwhile the Chino and Tyrone mines are in New Mexico. It operates two mines in South America, Cerro Verde in Peru, and El Abra in Chile. Freeport controls a 53.56% stake in Cerro Verde, and 51% in El Abra.
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
