Freeport Boss Reveals Progress on New Underground Mine Development

PT Freeport Indonesia (PTFI) is currently developing an underground mine project called Kucing Liar within the Grasberg minerals district in 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 next decade. PT Freeport Indonesia President Director Tony Wenas stated that the company has spent approximately US$1.4 billion, or Rp 25 trillion (assuming an exchange rate of Rp 17,923 per US dollar), on the development of the Kucing Liar mine project. “That is for development. So, underground mine development,” Tony said in Jakarta, as 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 phase. “Development, not preparation. To develop it, access must be opened and so forth, that is part of the 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 district. Production from the Kucing Liar mine is targeted to begin ramping up around 2030, reaching full design capacity of approximately 130,000 metric tonnes of ore per day. At full capacity, Kucing Liar is expected to produce an average of 750 million pounds of copper and 735,000 ounces of gold annually. The presence of this new mine is expected to sustain large-scale production for PT Freeport Indonesia in the Grasberg district over the long term. As of 30 June 2026, PTFI had invested approximately US$1.4 billion, or around Rp 25 trillion, in the project. The company estimates that total additional investment for the Kucing Liar project will reach approximately US$4 billion, or around Rp 71.69 trillion, through 2033.