World’s second-biggest copper miner to build smelter in Indonesia
The second-biggest copper miner in the world, PT Freeport Indonesia (PTFI), plans to invest in constructing a new smelter, processing and refining plant in East Java in August.
The second-biggest copper miner in the world, PTFI, expects to start the construction of a new smelter, processing and refining plant in East Java in August, (Photo by Freeport Mcmoran)
Jakarta (VNA) – The second-biggest copper miner in the world, PTFreeport Indonesia (PTFI), plans to invest in constructing a new smelter,processing and refining plant in East Java in August.
Tony Wenas, CEO of thePTFI, said that after the initial investment of 600 million USD in 2020, theminer will prepare another 1.1 billion USD to continue the project next year.
The smelter isexpected to consume 2 million tonnes of copper concentrate per annum andproduce at least 500,000 million tonnes of copper cathodes annually, saidWenas.
The construction ofthe smelter is part of Freeport’s agreement with the Indonesian Government tomaintain its mining rights in Grasberg mine in West Papua until 2041./.
The Indonesian government expects to attract 7.75 billion USD in investment in the mining industry this year, a record level between 2015 and 2024, fuelled by a wave of smelter development projects.
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The second-biggest copper miner in the world, PTFI, expects to start the construction of a new smelter, processing and refining plant in East Java in August, (Photo by Freeport Mcmoran) 
