Freeport Boss Reveals Investment Value Of Smelter Manyar Reaches IDR 58 Trillion

President Director of PT Freeport Indonesia (PTFI) Tony Wenas. (Photo: Maria Trisnawati/VOI)

JAKARTA - PT Freeport Indonesia President Director Tony Wenas revealed that the investment value of Smelter Manyar in Java Integrated Industrial and Ports Estate (JIIPE), Gresik, East Java, reached US$3.7 billion or equivalent to Rp58 trillion.

"The total investment we have spent on this project is US$3.7 billion or around Rp58 trillion," said PTFI President Director Tony Wenas as quoted by ANTARA, Thursday.

Tony said that Smelter Manyar is a big investment, and is an achievement for the Minister of Investment/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia because it has succeeded in realizing the investment made by PT Freeport Indonesia.

The output of the copper smelter, said Tony, is about 650 thousand tons of copper cathode.

In December, Tony said the smelter could purify anode mud to produce gold and silver, as well as several other metals.

"The gold amount is roughly between 50'60 tonnes and the silver is around 220 tonnes per year," Tony said.

Tony estimates that by mid-August, Smelter Manyar will be able to produce the first copper cathode.

On this occasion, the Minister of Investment/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia was also present.

Bahlil advised Freeport to involve regional entrepreneurs.

With the involvement of regional entrepreneurs, the turmoil that may occur can be avoided.

"Involve local entrepreneurs. Maybe because they are involved, there will be no turmoil," said Bahlil.

Regarding the inauguration of the Smelter Manyar operation, Bahlil felt unfair if he did not grant Freeport a special mining business permit (IUPK) extension.

"It feels like it's a bit unfair if we don't give an additional extension. Because we have built a smelter in Gresik, and we will get another 10 percent stake," said Bahlil.

Bahlil added that the permit to build a smelter in Papua had also been approved.

"So that the Papuan people also feel that the copper is correct, the concentrate is correct from Papua, there must also be a smelter in Papua," said Bahlil.