Antam to Absorb 20 Tonnes of Freeport Gold Throughout 2026
PT Freeport Indonesia (PTFI) has disclosed that PT Aneka Tambang Tbk (Antam) will absorb the entire gold output from PTFI’s Precious Metal Refinery (PMR) facility in Gresik, East Java. The absorption of the company’s total production will apply throughout 2026.
PTFI President Director Tony Wenas said the company’s total gold production from the refining facility is planned to reach 20 tonnes this year. The cooperation is one of the company’s commitments to prioritise domestic absorption of precious metals resulting from downstream processing.
He confirmed that the distribution of gold bullion to Antam is currently proceeding in stages in accordance with the agreed contract.
“As of now, as far as I know, around 9 tonnes has been consumed by Antam, and this year’s plan is for around 20 tonnes of our production from the Precious Metal Refinery,” he said in Tembagapura, Central Papua, in CNBC Indonesia’s Mining Zone programme, quoted on Monday (24/8/2026).
Operations at the PMR facility at the company’s Manyar Smelter continue to run even though the company has faced obstacles in the upstream sector. The supply of anode slime from PT Smelting is confirmed to continue flowing to be processed into pure gold to ensure stock availability for domestic offtakers.
“That continues to run. It has never stopped because PT Smelting is still producing anode slime. And hopefully most of it is consumed by PT Antam. We have an agreement with PT Antam,” Tony explained.
The company is coordinating to ensure that the realisation of national gold production can support the strengthening of foreign exchange reserves and the jewellery industry in Indonesia. Through upstream-to-downstream integration, gold produced from Papua is fully utilised for domestic economic needs.
“Right now, everything is consumed by Antam. And hopefully most of it is consumed by PT Antam. We have an agreement with PT Antam,” he stressed.
As previously reported, PT Freeport Indonesia officially signed a gold sale and purchase agreement with Antam for 30 tonnes of gold. The sales contract with Antam runs for five years and is valued at US$12.5 billion.