Inaugurated Today, The Grand Metal Purification Factory Freeport Has A Capacity Of 60 Tons Per Year

Gold (Photo: MIND ID)

JAKARTA - BUMN Holding Indonesia Mining Industry MIND ID through PT Freeport Indonesia (PTFI) presents an integrated gold processing ecosystem from upstream to downstream by inaugurating the precious metal refining plant in Gresik today, Monday, March 17.

The factory, which was inaugurated by President Prabowo Subianto, has a gold production capacity of 50 to 60 tons per year.

President Director of MIND ID, Maroef Sjamsoeddin explained, as part of the downstream chain, PT Aneka Tambang Tbk. (ANTM), the London Bullion Market Association (LBMA) certification holder with a purity level of 99.99 percent will build a gold processing and certification facility in the JIPPE area, Gresik.

"This factory will process Freeport Indonesia's gold production and become the first step in building a Bullion Bank in Indonesia," he said, Monday, March 17.

He added that the construction of this smelter cost an investment of US$4.2 billion, with its own gold refining facility reaching US$630 million or around Rp. 10 trillion.

Maroef also revealed that Antam is currently working with Freeport Indonesia to optimize the use of domestic gold and reduce dependence on imported raw materials.

With the optimization and expansion of processing facilities, Antam is expected to be able to absorb all Freeport gold production to meet domestic gold needs which reaches 70 tons per year.

"We are grateful for the support that has been given. The inauguration of this PMR facility is proof of MIND ID as a driver of downstreaming that creates added value for Indonesia," said Maroef.

Furthermore, Maroef emphasized that downstreaming and industrialization based on Indonesian mineral raw materials will play a major role in driving the national economy.

"With this strategic program, Indonesia is not only able to produce higher added value products, but also absorbs labor, strengthens infrastructure, and mobilizes various economic sectors, both formal and informal, in the operational areas of the mining industry," he concluded.