Government Rejects Freeport's Proposal Not to Build New Smelter

By Editorial Team 28/10/2020
Summary

Indonesian government firmly rejects Freeport McMoRan Inc's proposal. so that PT Freeport Indonesia does not need to build a new smelter, and instead expands the existing smelter facility, PT Smelting Gresik. "The [Mineral and Coal Mining] law and the agreement instructed Freeport to build a smelter," General of Mineral and Coal at the Energy and Mineral Resources Ministry Ridwan Djamaluddin said on Tuesday (10/27).

Previously, Freeport McMoRan President and Chief Executive Officer (CEO) Richard Adkerson suggested that Freeport Indonesia expands its existing smelter and add precious metal processing facilities so there was no need to build a new smelter. However, Freeport McMoRan cannot decide, because the Indonesian Government as the largest shareholder of Freeport Indonesia through MIND ID has the final say.

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