Indonesia builds copper smelter worth 3 billion USD
 |
| Illustrative image (Photo: Reuters) |
Hanoi – Indonesian President Joko Widodo recently attended a groundbreaking ceremony for a copper smelter belonging to gold and copper mining giant PT Freeport Indonesia in Gresik town, East Java.
The smelter is built on an area of 103-hectare in the Manyar Special Economic Zone at a cost of 3 billion USD, according to the Government data. It will have the world’s biggest capacity, with 1.7 million tonnes of copper and 35 tonnes of gold each year.
The Indonesian Government now has a 51-percent stake in PT Freeport Indonesia. The construction stage alone is expected to create 40,000 jobs for local people, Widodo said.
Minister of State-Owned Enterprises Erick Thohir said PT Freeport Indonesia’s revenue this year is estimated to more than double from 50 trillion rupiah last year.
Indonesia has the seventh biggest copper reserves in the world after Chile, Australia, Peru, Russia, Mexico, and the US.
What the stars mean:
★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional
Tag:Related Contents
Latest News
More News
- Thailand asks Laos to waive visa fee at border checkpoints to boost tourism (October 21, 2024 | 17:23)
- Laos pledges to continue efforts to empower girls (October 21, 2024 | 17:17)
- Chinese electric vehicle maker to build plant in Indonesia (October 21, 2024 | 17:12)
- Vietnam Elevator Association introduces Elevator Safety Application to the world (October 18, 2024 | 09:00)
- A taste of the future - the go-to spot at the Worldchefs Congress & Expo 2024 (October 15, 2024 | 16:11)
- Jakarta to impose household waste levy (October 14, 2024 | 16:49)
- China, Laos plan to build connectivity development corridor with Thailand (October 14, 2024 | 16:19)
- Singapore keeps monetary policy unchanged (October 14, 2024 | 16:00)
- Indonesia aims to become key chain in global EV industry (October 14, 2024 | 15:59)
- RoK, Singapore to deepen AI, defence cooperation (October 09, 2024 | 16:18)
Mobile Version