Coordinating Minister Airlangga: Downstream Indonesia's Freeport Smelter In Gresik Saves 60 Tons Of Gold

Coordinating Minister for Economic Affairs Airlangga Hartarto. (Photo: Doc. Antara)

Coordinating Minister for Economic Affairs Airlangga Hartarto assessed that the downstreaming of the PT Freeport Indonesia (PTFI) smelter in the Special Economic Zone (KEK) in Gresik, East Java, would save the loss of 60 tons of gold from the annual production forecast since the investment in 1967.

"This is the first investment of PMA (foreign investment) in 1967 and only in 2024 is downstream until it makes gold. And the gold produced is 60 tons. Imagine we have lost 60 tons of gold from 1967 to 2024," said Airlangga in Face-to-face Scientific Oration BJ Habibie Memorial Lecture: The Role of Science and Innovation Towards Indonesia Gold 2045 in Jakarta, quoted from Antara, Wednesday, July 24.

According to Airlangga, the government's commitment to downstreaming will save around 60 tons of gold every year.

This is considered a strategic step to maximize Indonesia's natural resource potential.

"The value of the 60 tonne gold is around 4.5 billion US dollars. And this is something very extraordinary, with the current policy (hilirization), this continues to be encouraged," he explained.

Airlangga emphasized the importance of downstream policy in supporting the national economy. This is in line with Indonesia's big vision towards 2045, where it is hoped that Indonesia will become one of the largest economic powers in the world.

Overall, downstreaming of PTFI smelters in Gresik is a major step in optimizing Indonesia's natural resource potential, as well as encouraging economic growth and community welfare.

"I say that this is the single largest of refinery in Gresik. Investment of IDR 58 trillion or USD 3.7 billion. Resolved on time," said Airlangga.

Previously, Coordinating Minister for Economic Affairs Airlangga Hartarto inaugurated the operation of the PT Freeport Indonesia (PTFI) smelter in the Special Economic Zone (KEK) in Gresik, East Java on Thursday (26/6).

The PTFI smelter is the largest copper refining facility with a single line design in the world with a purification capacity of 1.7 million tons of copper concentrate per year.