Freeport signs new smelter deal, drops plan with Tsingshan


PT Freeport Indonesia has signed a US$3 billion contract to develop a copper smelter in Gresik, East Java, ending a yearlong uncertainty over the miner’s downstreaming plans. Freeport Indonesia on July 15 had signed an engineering, procurement and construction (EPC) contract with Japancontrolled PT Chiyoda International Indonesia (PTCII) to develop the smelter in the Java Integrated Industrial and Port Estate (JIIPE) in Gresik, East Java. The signing of the contract between PTFI and PTCII marks the end of plans between Freeport and China’s Tsingshan Holding Group to build the smelter in Weda Bay, North Maluku, that came to light late last year.


July 21 2021, The Jakarta Post - Read 11 times

 
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