JAKARTA : Indonesia’s PT Smelting, a three way partnership between Mitsubishi Materials Corp and Freeport Indonesia, on Saturday launched building of a 3.2 trillion rupiah ($223 million) growth of its East Java copper smelting facility.
The growth will improve output capacity on the plant to 342,000 tonnes of copper cathode from 300,000 tonnes presently, the corporate mentioned in a press release.
“The expansion is targeted to be completed before the end of December 2023,” mentioned Irjuniawan Radjamin, a PT Smelting director.
PT Smelting processes copper focus produced by Freeport Indonesia, a unit of Freeport-McMoRan, from the Grasberg mine in Indonesia’s Papua area.
The growth will increase enter capacity on the plant to 1.3 million tonnes copper focus from 1 million tonnes at current, the assertion mentioned.
Resource-rich Indonesia is eager to develop its downstream steel business to spice up funding and create jobs, with President Joko Widodo saying the federal government plans to ban exports of uncooked supplies to encourage such investments.
($1 = 14,325.0000 rupiah)
(Reporting by Fransiska Nangoy; enhancing by Richard Pullin)