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Indonesia builds copper smelter worth 3 billion USD

Indonesian President Joko Widodo recently attended a groundbreaking ceremony for a copper smelter belonging to gold and copper mining giant PT Freeport Indonesia in Gresik town, East Java.
Indonesia builds copper smelter worth 3 billion USD ảnh 1Illustrative image (Photo: Reuters)

Hanoi (VNA) – Indonesian PresidentJoko Widodo recently attended a groundbreaking ceremony for a copper smelter belonging to gold and copper mining giant PT Freeport Indonesiain Gresik town, East Java.

Thesmelter is built on an area of 103-hectare in the Manyar Special Economic Zone at acost of 3 billion USD, according to the Government data. It will havethe world’s biggest capacity, with 1.7 million tonnes of copper and 35 tonnesof gold each year.

TheIndonesian Government now has a 51-percent stake in PT Freeport Indonesia. Theconstruction stage alone is expected to create 40,000 jobs for local people, Widodosaid.

Minister of State-Owned Enterprises ErickThohir said PT Freeport Indonesia’s revenue this year is estimated to more thandouble from 50 trillion rupiah last year.

Indonesia has theseventh biggest copper reserves in the world after Chile, Australia, Peru,Russia, Mexico, and the US./.

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