JAKARTA, RAKYAT NEWS – In a significant development for Indonesia’s mining industry, PT Freeport Indonesia (PTFI) has successfully sent its first shipment of 125 kilograms of gold bars to PT Aneka Tambang Tbk (Antam). The gold, with a purity of 99.99%, is valued at approximately IDR 207 billion. This marks a milestone in the country’s efforts to boost its mining industry by integrating upstream and downstream operations.

The shipment represents Freeport’s achievement as the first integrated copper mining company in Indonesia to refine anode slime into pure gold bars. Tony Wenas, President Director of PTFI, emphasized that this development is a crucial step in Indonesia’s gold downstream efforts. The company processed 12.56 tons of anode slime at its precious metal refinery (PMR) in Gresik, East Java, producing 189 kilograms of gold, with 125 kilograms achieving the desired purity level.

As part of the agreement signed in November 2024, Freeport and Antam established a gold trading deal to support Indonesia’s gold value chain. This agreement involves the annual supply of 30 tons of gold bars with 99.99% purity from Freeport, which will then be processed at Antam’s refineries. The partnership is expected to accelerate the country’s gold industry growth and reduce dependency on imported gold.

Freeport’s PMR facility, one of the largest of its kind in Indonesia, has an annual capacity of refining up to 50 tons of gold, 200 tons of silver, 30 kilograms of platinum, and 375 kilograms of palladium. This capacity not only supports Freeport’s gold production but also strengthens the national mining sector’s independence.

The deal has been hailed as a significant milestone by both companies, with Antam’s President Director, Nico Kanter, stating that the collaboration represents a major step towards Indonesia’s self-reliance in mining. He added that it aligns with the government’s vision of reducing dependency on imported products and promoting domestic product usage.

The partnership also reflects Antam’s long-term commitment to strengthening its precious metals business, particularly in gold, to meet domestic demand. As a leading player in the Indonesian gold market, Antam plans to further enhance its capabilities to support investments in gold.

Both companies anticipate further collaboration as part of the broader strategy to diversify and increase the local mining industry’s output. PTFI’s successful integration of gold refining is seen as a precedent for future downstream initiatives in other minerals, including silver and copper.

With the signing of the agreement and successful shipment of gold, Freeport Indonesia has not only secured its position as a key player in Indonesia’s gold production but has also contributed to the country’s larger economic and industrial growth strategy. The partnership between Freeport and Antam signals a positive future for Indonesia’s mining industry, with the government aiming to maximize the sector’s value-added products. (Uki Ruknuddin)

 

YouTube player