Freeport Indonesia Completes $3.7B Copper Smelter

The Indonesian government has approved PT Freeport Indonesia's plan to construct a copper smelter in Papua as part of negotiations extending their contract until 2061. This move aims to ensure that the people of Papua benefit from their natural resources. The newly inaugurated smelter in Gresik, East Java, with a significant investment of US$3.7 billion, will greatly increase copper processing capacity, contributing to national economic growth and creating multiplier effects locally. Freeport Indonesia's smelter operations mark a crucial step in Indonesia's downstream agenda to enhance the value of mineral exports. The completion of the $3.7 billion smelter is expected to significantly boost copper cathode production, aligning with the global demand for copper in renewable energy applications such as electric vehicles and power generation.