Business News

2021-07-30
Freeport Indonesia To Invest $3.3 Billion To Build Smelters, Gold Processing Plant
Papua copper and gold mining giant PT Freeport Indonesia will invest US$ 3.3 billion over the next three years to expand existing smelter and to build a new one with combined capacity of 2 million tons per annum and to build gold and silver processing facility in Gresik, East Java.

Part of the fund will invest US$250 million to expand the capacity of existing smelter PT Smelting by 30 percent to be able to process 300,000 tons of concentrate per annum

Earlier already awarded a construction contract to Chiyoda to build a new smelter in Gresik with a capacity to process approximately 1.7 million metric tons of concentrate per year with an estimated cost of $2.8 billion.

The smelter construction is expected to be completed as soon as feasible in 2024.