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Freeport Extension for Special Business Permit Beyond 2041

The government is in the process of drafting a supplementary regulation regarding the extension of PT Freeport Indonesia's (PTFI) special mining business license (IUPK) contract at the Grasberg mine in Papua.

Stepanus I Nyoman A. Wahyudi

May 27, 2023 - 8:56 AM

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Freeport Extension for Special Business Permit Beyond 2041

PT Freeport Indonesia's copper concentrate smelter construction progress in the JIIPE Special Economic Zone (KEK), Gresik, East Java, Wednesday (29/3/2023)/Bisnis-Denis Riantiza Meilanova

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Bisnis, JAKARTA — The government is in the process of drafting a supplementary regulation regarding the extension of PT Freeport Indonesia's (PTFI) special mining business license (IUPK) contract at the Grasberg mine in Papua.

Swift clarity regarding the contract's extension beyond 2041 is of utmost importance for PTFI to fully leverage the abundant mineral resources in the Bumi Cenderawasih mine.

As part of the conditions for the contract extension, the government has mandated PTFI to establish a new smelter in Papua, in addition to the ongoing construction in Gresik, East Java.

Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif emphasized the importance of integrating smelter facilities to ensure the continuity of operations as long as the mineral resources are still available.

Editor: Aprilian Hermawan

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Freeport Extension for Special Business Permit Beyond 2041

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