Freeport Targets to Increase Copper and Gold Ore Production

19 May 2021

PT Freeport Indonesia's copper and gold ore production is targeted to increase compared to previous years in line with the increasing production of underground mines. A spokesperson for PT Freeport Indonesia, Riza Pratama, who was contacted from Timika, Tuesday (18/5), said this year's copper ore production is targeted to reach 1.4 billion pounds, while gold ore production is targeted at 1.4 million ounces. As a comparison, last year Freeport produced 800 million pounds of copper ore, while gold ore production was 800 thousand ounces.

"The increase in copper and gold mining production of PT Freeport Indonesia this year will certainly have an impact on state revenues, especially in terms of dividends to be paid to the government which will be greater than the previous year," said Riza.

He mentioned that many copper producers are currently stopping their production due to the COVID-19 pandemic. On the other hand, he said, the demand for the copper market continues to increase in line with the need for the production and development of electric vehicles. Previously, President Director of PT Freeport Indonesia, Tony Wenas said the copper and gold mining production of the company he led had increased by around 75 percent.

The increased production of Freeport mine ore located in Tembagapura District, Mimika Regency, Papua is due to increased contributions from underground mines, where since the end of 2019 Freeport has closed the Grasberg open-pit mine. In 2020, production from Freeport's underground mine will only reach 50-60 percent of full capacity. The full capacity of the underground mine will only be reached in 2022.

https://papua.antaranews.com/berita/633842/freeport-target-tingkatkan-produksi-bijih-tembaga-dan-emas

 

 

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