Freeport signs foundry deal, abandons Tsingshan plan – Fri 23 July 2021
Divya Karyza (The Jakarta Post)
Fri 23 July 2021
Gold and copper mining giant PT Freeport Indonesia (PTFI) has signed a $ 3 billion contract to develop a copper smelter in Gresik, east Java, ending a year of uncertainty over to the minor’s downstream plans.
Freeport Indonesia wrote in a July 15 statement that it had signed an Engineering, Procurement and Construction (EPC) contract with Japan-controlled PT Chiyoda International Indonesia (PTCII) to develop the foundry in the Java Integrated Industrial and Port Estate (JIIPE) in Gresik, East Java.
The Manyar smelter will produce copper cathodes – one of the main materials used in batteries and electrical wiring – from concentrate supplied by Freeport Indonesia’s Grasberg mine in Papua, one of the largest copper mines and gold in the world. The smelter will have a processing capacity of 1.7 million tonnes of copper concentrate per year.
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