Starting Production 2027, PTFI Needs 500 Million Per Year To Develop Illegal Cat Mining

President Director of PT Freeport Indonesia Tony Wenas. (Photo: Doc. VOI)

JAKARTA - PT Freeport Indonesia President Director Tony Wenas revealed that his party is building a new mine called the Wild Cat in Grasberg, Central Papua.

Tony said, to develop this underground mine, his party requires capital expenditure (capex) or capital expenditure of 500 million dollars per year.

"For the construction of the Wild Cat, we will need a capex or will spend around 500 million dollars per year on 7-8 years," Tony said in a Hearing Meeting with Commission VI of the Indonesian House of Representatives, quoted on Friday, March 14.

Tony said this mine will replace the Deep Mill Level Zone (DMLZ) which is still operating. The new mine will operate in 2027.

As a substitute for the DMLZ mine, the Wild Cat will produce 240,000 tons of copper ore per day so that PTFI's production will be much more stable in the future.

The potential for Illegal Cat reserves, said Tony, reaches 7 billion pounds of copper and 6 jua ounces gold which can be mined until 2041.

The process of developing the Cat Liar mine has been carried out since 2022.

Tony explained that the Grasberg Block Cave has been the largest ore producer by producing 140,000 tons of ore per day, and followed by DMLZ with 70,000 tons of ore per day.

"And Big Gossan is only 7,000 tons of ore per day but the levels are higher," said Tony.