13 hours ago
9
March 18, 2025 | 12:00 pm
TEMPO.CO, Jakarta - Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia disclosed that the investment value of PT Freeport Indonesia's (PTFI) gold smelter in Gresik has reached Rp10 trillion. The facility serves as a refining plant for precious metals, utilizing the world's largest Precious Metal Refinery (PMR).
"The investment for this gold smelter is US$630 million or equivalent to Rp 10 trillion," said Bahlil at PT Freeport Indonesia, Special Economic Zone of Gresik, East Java, on Monday, January 17, 2025. Bahlil stated that, in layman's terms, a smelter is a plant.
He emphasized that the inauguration of this smelter means that Indonesia now has the largest gold bar manufacturing plant on a global scale. He also showcased the capability of the PTFI Gresik smelter, which can process 3 million anode sludge concentrates per year.
"And we need to report to the President that the gold production from the 3 million concentrates brought from Freeport, the approximately 3 million concentrates produce around 50-60 tons of gold," said Bahlil.
On that occasion, he also mentioned the gold production by PT Amman International Tbk, which has been operating since 2000 in Sumbawa, East Nusa Tenggara.
Bahlil assessed that PT Amman is capable of processing 900 thousand concentrates, which can produce around 18-20 tons of gold every year.
"So overall, hopefully every year, the two plants from Gresik and PT Amman can produce 60-70 tons of gold per year in the Indonesia," he added it up.
Meanwhile, the President Director of PT Freeport Indonesia, Tony Wenas, mentioned that the precious metal refinery plant had started production. Tony estimated that his company can only produce 32 tons of gold this year.
"Maybe next year we can only produce 50 tons, why? Because this is still in the initial ramp-up stage, and our new smelter is not yet operational and is still undergoing repairs," he explained.
According to Tony, Freeport is currently carrying out extensive repairs on the smelter, so it is expected to start production again in June. Tony stated that the gold plant in Gresik is the world's largest gold smelter from upstream to downstream.
Through precious metal refinery or PMR, Tony explained that gold refining uses a hydro metallurgy technology claimed to be the largest in the world.
"And we should be proud that it is located in Indonesia," he said.
Editor's Choice: Prabowo Inaugurates Gresik's Smelter: World's Largest Integrated Gold Refinery
Click here to get the latest news updates from Tempo on Google News
Prabowo Inaugurates Gresik's Smelter: World's Largest Integrated Gold Refinery
21 jam lalu
With the new precious metal refinery facility in Gresik, Freeport can now produce 60 tons of gold per year.
Prabowo Inaugurates Freeport's Gold Smelter in Gresik Today
1 hari lalu
Indonesian President Prabowo Subianto will inaugurate a smelter or gold refining facility through Precious Metal Refinery in Gresik owned by Freeport.
UI Alumni Petition to Revoke Bahlil Lahdalia's Doctorate
4 hari lalu
UI alumni have opened a petition entitled 'UI: Dismiss Bahlil and Cancel His Dissertation'. The petition has been signed by more than 5,000 participants.
UI Professors on Bahlil's Doctorate Scandal: Passed Dissertation Can't Be Revised
10 hari lalu
A professor at UI asserted that Bahlil's dissertation was fundamentally flawed from the start, particularly due to dishonesty in data collection.
UI Orders Bahlil to Revise Dissertation Following His Doctorate Suspension
10 hari lalu
The UI Rector stated that the Bahlil's dissertation revision must be based on the improvement of quality and academic publication.
Antam Gold Price Falls Rp 2,000, Declining Since Wednesday
19 hari lalu
Today, the price of Antam gold based on the official Logam Mulia website per gram is recorded at Rp1,692,000.
Indonesia's Gold Bar Reserves Lags Behind Singapore, Says SOEs Minister
19 hari lalu
Erick Thohir stated that Indonesia's gold bar reserve is only 201 tons, while Singapore's reaches 228 tons.
Prabowo Assigns AHY to Build Giant Sea Wall from Banten to Gresik
20 hari lalu
Indonesian President Prabowo would soon initiate Giant Sea Wall project. He mentioned that the budget for the project has already been allocated.
Government Allows Freeport Indonesia to Resume Copper Export
25 hari lalu
President Prabowo Subianto has allowed PT Freeport Indonesia to resume the export of raw copper.
Bahlil Calls Mining Law Revision a 'Constitutional Jihad' to Uphold Article 33 of 1945 Constitution
25 hari lalu
Indonesian govt frames approval of the revised Law on Mining Law (Minerba) as an effort to restore the essence of Article 33 of the 1945 Constitution
