President Prabowo Subianto Committed to Continuing Downstreaming Projects

President Prabowo Subianto inaugurates PT Freeport Indonesia’s Precious Metal Refinery (PMR) facility in Gresik regency, East Java province, Monday (03/17). (Photo by: BPMI of Presidential Secretariat)

President Prabowo Subianto Monday (03/17) inaugurated PT Freeport Indonesia’s Precious Metal Refinery (PMR) facility in Gresik regency, East Java province as a part of the downstreaming of national mining industry and an effort to strengthen Indonesia’s self-reliance in precious metal processing and refining.

In his remarks, President Prabowo emphasized the importance of industrialization and downstreaming process of natural resources in order to increase value added to the national economy.

“We are grateful to have this facility, this industry. I was informed that this industry, this metal refining plant, especially for gold, is the largest in the world in terms of both upstream and downstream within a single entity. So I think this is something we should be thankful for,” he said.

In addition, the President emphasized that Indonesia should not only be able to export raw materials but also to process them into final products with more added value. He also underscored the importance of good natural resources management for Indonesia as the country has the sixth largest gold reserves in the world.

“We want to manage our abundant resources effectively.  There are indeed some problems, such as illegal mining in many places, gold smuggling out of the country without going through the proper process, which cause losses to the nation, the people, and the state. We will take action against those problems and investigate them thoroughly,” he explained.

On the occasion, the Head of State also expressed appreciation to PT Freeport Indonesia and its parent company, Freeport-McMoRan Inc, for their contribution to Indonesian economy. He added that foreign company investing in Indonesia must serve as a responsible partner for Indonesia by contributing to the country’s advancement.

“You have enormously contributed to Indonesia’s economy. We want to see you continue to participate in Indonesia. You have been doing business here for quite a long time and have contributed greatly to our economy,” he said.

President Prabowo also reiterated the Government’s efforts in stimulating investment and creating jobs through various national strategic projects. He said that other sectors such as agriculture and fishery have the potential to generate foreign exchange while simultaneously creating significant employment opportunities.

“Based on our estimation, investments that will be started this year will create around 8 million job opportunities. We are very much optimistic and grateful to have natural resources. It is our duties and responsibilities to manage them optimally,” he said.

He also expressed optimism that strong governance, transparency, and accountability could serve as a new strength and energy for Indonesia’s future. The President then called on all parties to collaborate in managing Indonesia’s rich natural resources.

“Thank you. Wishing you success in your work, as you look towards the future and achieve prosperity for all parties,” he concluded. (BPMI of Presidential Secretariat) (RAS/TM)