Freeport commits to building 2 copper manufacturing plants, Bahlil says
old and copper mining company PT Freeport Indonesia (PFTI) has committed to build two new copper downstream manufacturing plants with an estimated investment of Rp 7 trillion (US£440 million), according to the energy and mineral resources minister. The new facilities are expected to go beyond smelting and produce finished goods, such as copper foil and cables, supporting the government's broader push to develop the downstream sector. "Over several discussions, PTFI has committed to developing downstream copper products in line with President Prabowo Subianto[1]'s directive to process copper all the way to finished products," energy minister Bahlil Lahadalia said on Monday, during the President's inauguration of Freeport's precious metals refinery in the Gresik Special Economic Zone (SEZ), East Java.
Read also: Govt to hike copper export levy after Freeport smelter fire[2] If realized, the new copper processing facilities would be located at PTFI's Gresik smelter complex. The complex houses the world's largest single-line copper smelter, built with a £3.7 billion investment and inaugurated last September by then-president Joko "Jokowi" Widodo.
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View More Newsletter[3]The Jokowi administration had also asked PTFI to build refinery in Papua, but this has not been realized.
References
- ^ Prabowo Subianto (www.thejakartapost.com)
- ^ Govt to hike copper export levy after Freeport smelter fire (www.thejakartapost.com)
- ^ View More Newsletter (www.thejakartapost.com)