Politics
The President inaugurates the precious installation of Freeport metal refinery in Gresik
President PRABOWO SUBIANTO inaugurated PT FREEPORT Precious Indonesia of the metal refinery (PMR) in the Java Integrated Industrial and Port Estate (JIIPE) region in GRESIK, East Java, Monday, March 17, 2025.
This refining installation, which is part of the Freeport copper foundry area, which was previously inaugurated by the 7th President Joko Widodo on September 23, 2024, is equipped with hydrometallurgy technology which is capable of treating the anode mud The result of the copper concentrate in gold, silver and other precious metals.
Prabowo stressed that the presence of the Freeport PMR is a strategic step in the downstream acceleration of the Indonesian mineral industry.
“Our nation will not only sell raw materials, but also finished products, end products that have very great added value,” said Prabowo in his speech.
He cited that the installation of refining the gold of Freeport is the most important in the world in terms of processes integration, from upstream to downstream in an industrial entity.
Ability
The FREEPORT PMR installation in GRESIK has a refining capacity of around 50 tonnes of gold, 200 tonnes of silver, 30 kilograms (kg) of platinum and 375 kg of palladium per year. Freeport Indonesia has started producing golden bars since December 30, 2024, with a purity level of 99.99%.
In November 2024, Freeport signed an agreement to sell gold with the minor state PT Aneka Tambang (Antam), witness by the Minister of State Businesses Erick Thohir and the Vice-Minister of Energy and Mineral Resources (ESDM) Yuliot Tanjung.
On February 12, 2025, Freeport made his first shipping of gold bars to Antam. The shipment included 125 kg of gold with a purity level of 99.99%, worth 207 billion rupees (12.6 million US dollars). PT Freeport, director of the president, Tony Wenas, said that gold came from the treatment of 12.56 tonnes of anode mud from the PMR installation of PT Smelting in Gresik.
Freeport undertakes to continue its cooperation with Antam, with a production target of up to 30 tonnes of gold per year. The raw material in gold will then be treated in the precious metals and refining plant of Antam.
Tony added that the gold sales and purchase contract would last the next five years, with a transaction value of $ 12.5 billion.
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