President Prabowo Subianto Inspects Precious Metal Production at PT Freeport Indonesia in E. Java

President Prabowo Subianto inspects the smelter area of PT Freeport Indonesia (PTFI) in Gresik regency, East Java province, Monday (03/17). (Photo by: BPMI of Presidential Secretariat)

President Prabowo Subianto Monday (03/17) conducted an on-site inspection a smelter owned by gold and copper miner PT Freeport Indonesia’s (PTFI) smelter in Gresik, East Java province.

During the visit, the President reviewed cathode production at the electro-refinery area and observed gold processing at the Precious Metal Refinery (PMR).

PT Freeport Indonesia’s Precious Metal Refinery stands as the world’s largest modern gold refining facility, fully integrated from mining to processing and refining.

On that occasion, the President also referred to the refinery as a major milestone in Indonesia’s mineral downstreaming efforts.

“I believe we should be proud and grateful that we finally have the capability to refine pure metals domestically. We no longer want to export our natural resources as raw materials at low prices. We want to process them in the country so that we can reap the added value, increasing national wealth for the Indonesian people,” the President said after the inauguration.

Built with an investment of US$630 million (Rp10 trillion), the PMR utilizes hydrometallurgy technology and boasts an annual production capacity of 6,000 tons of anode mud, 50 tons of gold, 210 tons of silver, and 0.03 tons of platinum.

In addition to gold and silver, the refinery is also capable of producing 0.375 tons of palladium, 285 tons of selenium, 220 tons of bismuth, and up to 2.200 tons of lead per year with the facility now fully operational to process all anode mud from the PTFI smelter domestically.

In the meantime, PTFI President Director Tony Wenas underscored the refinery’s significance, stating that it is the world’s largest modern gold refinery utilizing hydrometallurgy technology.

Tony also explained that since its first production in December 2024, PTFI PMR had refined 1,062 (equivalent to Rp1.7 trillion) as of March 9, 2025.

“This year, we aim to refine 32 tons of raw materials into gold, with future production reaching 50 tons per year. This will significantly support the gold ecosystem, including the supply for Indonesia’s newly established bullion bank,” he added.

The operation of PTFI PMR is expected to bolster the Government’s strategy to enhance downstream development in the mining sector. (BPMI of Presidential Secretariat) (RIF/EP)