Production Drops, Freeport Pede Boss Can Give Deposits To The State

President Director of PTFI, Tony Wenas (intermediate)

JAKARTA - PT Freeport Indonesia (PTFI) estimates that it will continue to provide large amounts of deposits to the state even though this year's production has not reached the target.

PTFI President Director Tony Wenas projects state revenues from PTFI to reach Rp70 trillion or US$4.1 billion.

The state revenue is planned to be only 3.7 billion dollars. This 3.7 billion dollars is almost Rp. 70 trillion. However, with the increasing price of gold and copper, the projected state revenue until the end of 2025 could be 4.1 billion dollars," Tony said at the Commission VI Joint Hearing Meeting, Monday, November 24.

Meanwhile, state revenues deposited by Freeport can be in the form of corporate income tax, dividends and non-tax state revenue (PBNP) which will be paid based on 2024 results.

"The state income is from the corporate tax, then there is PNBP, and there is also dividends. If we look at the 2025 projection, it can reach 4.1 billion dollars. There are also other factors, namely the installment factor or the company's tax installation, the corporate income tax that we have to pay based on the results in 2024, "explained Tony.

In fact, PTFI projects that the company's production and sales will not be able to achieve the set target. This is due to an incident of landslides in an underground mine that causes mining operational activities to be temporarily suspended.

The overall sales by the end of 2025 are estimated to be only US$8.511 billion or only 82 percent of the sales target in the 2025 RKAB which reached US$10.4 billion.

Meanwhile, the copper sales volume is estimated to be only 537,000 tons this year or 70 percent of the work plan and budget (RKAB) of 770,000 tons. Meanwhile, gold commodities will only be realized by 50 percent of the RKAB target.

"Although copper production decreased by 30 percent, gold decreased by 50 percent, we were able to achieve sales revenue this year of around 8.5 billion dollars, or only down 18 percent from projections by RKAB," Tony said.