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Trade Ministry ready to support Freeport in second smelter project
The Trade Ministry is ready to support the operation of Freeport’s second smelter in Gresik for copper production and support the national downstream program.
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The construction of PT Freeport Indonesia's copper smelter at the Java Integrated Industrial and Port Estate (JIIPE) Special Economic Zone in Gresik, East Java, is seen in this undated picture. PTFI had invested US$2.9 billion into the project from the total budget of $3 billion by the end of October 2023. (Courtesy of PT Freeport Indonesia/-)
T
rade Minister Zulkifli Hasan said on Tuesday that his ministry would support PT Freeport Indonesia (PTFI) ahead of the operation of its second smelter in Gresik, East Java.
"We will provide all the necessary support, including the extension of the [copper] export license regulations," Zulkifli said on Tuesday, as quoted by Kompas.com.
Zulkifli was speaking during a working visit to the PTFI smelter construction project at the Java Integrated Industrial and Port Estate (JIIPE) Special Economic Zone in Gresik, East Java.
PTFI’s export license expired on June 10 and has been extended until May 2024, while waiting for the smelter to become fully operational.
The smelter is expected to boost economic growth and improve the welfare of people in the area with Zulkifli expressing his approval of the smelter-construction progress.
"I am more than happy that the smelter construction progress has now passed 80 percent. I think [this is something] we can be proud of as the new generation leads it,” he said.
“The copper concentrate is managed here continuously, and we also have a majority stake."
