Freeport Boss Reveals Progress on New Underground Mine Development
PT Freeport Indonesia (PTFI) is currently developing an underground mine project called Kucing Liar in the Grasberg minerals district, Tembagapura, Mimika Regency, Central Papua. The project is projected to become one of the company’s main sources of copper and gold production in the coming decade.
President Director of PT Freeport Indonesia Tony Wenas said the company has spent around US$1.4 billion, or Rp25 trillion (assuming an exchange rate of Rp17,923 per US dollar), on developing the Kucing Liar mine project.
“That (investment) is for development. So underground mine development,” Tony said in Jakarta, quoted on Monday (10/8/2026).
Tony is targeting the Kucing Liar underground mine to begin operations in 2029. The project has now entered the development stage.
“Development, not preparation. To develop it, access must be opened and so on, that is part of development,” he said.
Citing a Freeport-McMoRan (FCX) report, development of the Kucing Liar mine has been ongoing since 2022 as part of a long-term strategy to maintain production sustainability in the Grasberg area.
“Since 2022, PTFI has carried out long-term mine development activities at the Kucing Liar deposit located in the Grasberg minerals district,” wrote Freeport-McMoRan’s (FCX) first-half 2026 performance report, quoted on Wednesday (5/8/2026).
Production from the Kucing Liar mine is targeted to begin ramping up around 2030 until it reaches a design capacity of approximately 130,000 metric tonnes of ore per day.
At full operation, Kucing Liar is estimated to be able to produce an average of 750 million pounds of copper and around 735,000 ounces of gold per year. The presence of the new mine is expected to sustain PT Freeport Indonesia’s large-scale production in the Grasberg area over the long term.
As of 30 June 2026, PTFI has disbursed at least US$1.4 billion, or around Rp25 trillion (assuming an exchange rate of Rp17,923 per US dollar), for the development of the Kucing Liar mine project.
The company estimates additional investment requirements for the project will reach around US$4 billion, equivalent to approximately Rp71.69 trillion, through 2033.