Freeport Indonesia Receives Pioneer Investment Award 2023 from BKPM

29 May 2023


Jakarta - PT Freeport Indonesia (PTFI) received a Pioneer Investment Award 2023 (Anugerah Investasi Pionir 2023) from the Ministry of Investment/ Investment Coordination Agency BKPM for the company’s contribution to sustainable investments at the national level. PTFI has conferred an award under the category of Best Pioneer Foreign Investment in a Primary Sector, in recognition of its commitment to making investments in a sector that maximizes the utilization of natural resources in Indonesia.

The Pioneer Investment Awards event is the first of its kind to be held by the Ministry of Investment/ Investment Coordination Agency BKPM. The awards are bestowed on companies that have long made foreign investments (PMA) or domestic investments (PMDN) towards boosting advancement in various sectors, including natural resources management, manufacturing, construction, services, and others. The awards presentation coincided with the climax of celebrations taking place in Jakarta on Friday, 26 May 2023 on the occasion of the 50th anniversary of the Investment Ministry/ BKPM, which carried the theme of “Investments Grow. Indonesia Advances.”

In an address presented through a video recording, the Republic of Indonesia President Joko Widodo underscored the important role of investment in the national economy. “Investment is the key to encouraging economic growth and creating more jobs,” RI President Joko Widodo stated.

For more than 56 years, PTFI has invested in Indonesia and continues to provide both direct and indirect benefits for Indonesia, in particular for the people of Mimika. “PTFI’s investment in Indonesia is by way of our long-term commitment to continue developing alongside Indonesia’s best, and to continue providing sustainable benefits for the advancement of the nation, in particular the communities living alongside us,” PTFI President Director Tony Wenas who attended the event stated during the award presentation.

PTFI investments until 2041 amounted to a total of 36.6 billion US dollars, including 3 billion US dollars for the smelter development. These sustainable investments continue to bring benefits for Indonesia, and in particular for Mimika Regency, through infrastructure development, the creation of jobs, increased well being for local communities, and the emergence of micro, small and medium businesses (MSMEs/UMKM) in the vicinity of the company’s operating area. Additionally, these investments carry benefit value in the form of payment of taxes, royalties, dividends, and costs and other outlays amounting to 26.6 billion US dollars.

Furthermore, as a foremost mining company in Indonesia PTFI opens the door for innovations and technologies to be introduced in the national mining industry, and at the same time accelerate national downstream industry development. PTFI investments are currently focused on include the development of a smelter in Manyar, Gresik, and the expansion of another smelter, PT Smelting in Gresik. PTFI's investment in these two projects epitomizes PTFI's commitment to optimizing the utilization of the nation’s natural resources and supporting the national downstream industry development policy.

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