Freeport starts commissioning of new Indonesian smelter

Freeport (FCX) announced today that its Indonesian subsidiary, PT Freeport Indonesia (PT-FI), substantially completed construction of its new Manyar smelter in Gresik, Indonesia in June 2024 and has commenced commissioning operations. FCX expects the smelter will begin producing copper cathodes in the coming months and continues to target full ramp up by the end of 2024 in line with previous expectations.

FCX also announced that on July 2, 2024, PT-FI received approval from the Indonesian government to export copper concentrates and anode slimes through December 2024 when the full ramp-up of the new processing facilities is expected. PT-FI will continue to pay export duties on copper concentrates during the smelter ramp-up period pursuant to Indonesian regulations.