Freeport Kaji Purchase Of Copper Concentrat From Amman Mineral

JAKARTA - PT Freeport Indonesia (PTFI) is reviewing the potential to buy a copper concentrate from PT Amman Mineral Internasional Tbk. (AMMN).

Just so you know, previously the Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia had asked the President Director of PT Freeport Indonesia, Tony Wenas to discuss the purchase of a copper concentrate from Amman because of PTFI's operational activities which were stopped due to landslides in underground mines.

"PTFI is currently conducting an evaluation regarding the option to collect copper concentrate from Amman," said VP Corporate Communications of PT Freeport Indonesia, Katri Krisnati to VOI, Friday, November 21.

Katri explained that the study covered various aspects including technical, operational, economic, and compliance with applicable regulations. However, Katri was reluctant to provide further details regarding the final decision of the study.

For information, Freeport's smelter in Gresik cannot operate due to a supply vacuum after mining activities were stopped due to landslides in an underground mine last September.

Meanwhile, on the other hand, Amman Mineral proposed to export a copper concentrate because his smelter experienced a majeure force due to a fire incident.

On the other hand, Freeport McMoran (FCX) management reports that it has started production from deep Mill Level Zone (DMLZ) and Big Gossan underground mines that were not affected by the end of October 2025.

"Rescuation activities continue to be carried out to prepare for a gradual resumption and increased production of the Grasberg Block Cave underground mine which is planned to start in the second quarter of 2026," management wrote.

FCX also estimates that PTFI's copper and gold production from the Grasberg mineral district in 2026 will be similar to the 2025 volume estimate, which is around 1.0 billion pounds of copper and 0.9 million ounces of gold.

"FCX estimates PTFI production will increase throughout 2026 and 2027, with an average annual production of around 1.6 billion pounds of copper and 1.3 million ounces of gold during the three-year period 2027'2029," management wrote.