Freeport's Gold Production Set to Surge to 37 Tonnes by 2030

PT Freeport Indonesia (PTFI) estimates that gold production from its mine in Mimika, Papua, will continue to increase, reaching 37 tonnes by 2030. In a presentation, Freeport Indonesia President Director Tony Wenas stated that in 2026, copper production is expected to reach 800 million pounds and 700,000 ounces of gold, equivalent to 21 tonnes. By 2027, copper and gold production will see a significant increase to 1.2 billion pounds of copper and 1 million ounces of gold, or 31 tonnes. In 2028, copper production is projected to rise to 1.6 billion pounds and gold to 1.4 million ounces, or 43 tonnes. Data presented showed copper production in 2029 reaching 1.6 billion pounds and 1.3 million ounces of gold, or 40 tonnes. By 2030, copper production is forecast to hit 1.7 billion pounds and 1.2 million ounces of gold, or 37 tonnes. “And so on until 2030,” Tony Wenas explained during a Hearing with Commission XII of the House of Representatives on Tuesday (14/7/2026). Production activities will also be supported by a new mine within Freeport’s operational area, the Kucing Liar mine, which is planned to begin operations in 2029. “The Kucing Liar mine, located close to the current site, will start being mined in 2029. This is to replace DMLZ, whose tonnage is beginning to decline, so that the stability or continuity of mining at around 220,000 tonnes of ore per day can be maintained,” Wenas asserted.