MIND ID Oversees Integrated Copper and Gold Downstreaming
Jakarta (ANTARA) - Indonesia’s Mining Industry Holding MIND ID is steadfast in overseeing integrated copper and gold downstream processing in Gresik, East Java, to promote import substitution and increase industrial value added as a driver to strengthen Indonesia’s economic performance.
“This strategic step is part of the broader Danantara Downstreaming Project, a programme that not only builds production capacity but also strengthens the foundation of the national strategic industry comprehensively, from upstream to downstream, from raw materials to finished products needed by the nation,” said MIND ID’s Director of Downstreaming Strategy and Mineral Ecosystem, Tedy Badrujaman, in a statement received in Jakarta on Wednesday.
As a concrete implementation, MIND ID, through Freeport Indonesia as a supplier of copper cathodes, is synergising with PINDAD, a member of DEFEND ID, to optimise copper in the production of brass mill and brass cups in Gresik with a capacity of 10,000 tonnes per year.
This synergy is a form of support from the mining sector for Indonesia’s defence industry, which requires strengthening the supply chain for ammunition components.
This serves as a follow-up to optimise copper cathodes produced by Freeport Indonesia to meet the ongoing needs of Indonesia’s manufacturing industry.
In the gold downstream line, MIND ID is promoting an increase in precious metal production capacity. This project will optimise the production of gold bars from Freeport Indonesia’s precious metal refinery, which utilises raw materials from anode slime in the copper refining process.
The facility to be built by ANTAM has a capacity of up to 30 tonnes per year or 5 million pieces per year, and will ultimately meet the precious metal investment needs of the Indonesian people.
All these facilities will be built in the JIIPE Gresik Industrial Area, East Java, with multimodal land and sea connectivity, integrated logistics, and unified licensing services in synergy with PELINDO.
At the Groundbreaking Ceremony for Integrated Copper and Gold Downstreaming in the JIIPE Gresik Area, President Prabowo Subianto conveyed virtually that amid increasingly intense international geopolitical competition, more countries want to dominate natural resource wealth.
With this strategic downstreaming step being implemented, Indonesia is striving to master its natural wealth and utilise it for the nation’s interests.