Video: Freeport to Develop Kucing Liar Mine with Rp72 Trillion Investment

Jakarta, CNBC Indonesia – President Director of PT Freeport Indonesia, Tony Wenas, has reaffirmed PTFI’s commitment to strengthening integrated copper mining from upstream to downstream to support the national economy.

To maintain production continuity, PTFI is preparing to explore the Kucing Liar mine in 2029 with an investment of Rp72 trillion. The Kucing Liar mine has potential reserves of 130,000–240,000 tonnes of ore per day, enabling production of approximately 7 billion pounds of copper metal and 7 million ounces of gold.

PT Freeport Indonesia estimates that the Kucing Liar mine reserves can be extracted until 2051, well beyond the Special Mining Business Permit (IUPK) which runs until 2041. There will be a 12% divestment of Freeport-McMoRan’s shares in PTFI without a sale-and-purchase mechanism as part of the IUPK extension post-2041.

Tony Wenas also reported on the operational progress of two smelters in Manyar, East Java, which have only begun production at 25% capacity due to upstream mining disruptions. Meanwhile, the metal refinery continues to operate with production of 20 tonnes to be absorbed by PT Antam.