Freeport Pays IDR 3.35 Trillion Regional Share of 2023 Net Profits

18 April 2024

PT Freeport Indonesia (PTFI) is depositing around IDR 3.35 trillion in regional shares of the company's net profits for 2023 to the Central Papua Provincial Government, produced districts and other districts in Central Papua Province.

"Paying the regional share of net profits is a realization of the company's commitment to encouraging regional government economic improvement," said PTFI President Director Tony Wenas.

Tony detailed that funds of around Rp. 3.35 trillion were divided between the Central Papua Provincial Government, around Rp. 839 billion and the Mimika Regency Government, around Rp. 1.4 trillion. Meanwhile, other districts in Central Papua province, namely Nabire, Paniai, Puncak, Puncak Jaya, Dogiyai, Deiyai and Intan Jaya districts, each received around IDR 160 billion.

a freeport miner
In 2023 PTFI succeeded in producing 1.65 billion pounds of copper and 1.97 million ounces of gold.
Copper Concentrate Mill in Tembagapura
From this port the copper concentrate is sent to the smelting and refining factory in Gresik, East Java.

In 2023 PTFI will succeed in producing 1.65 billion pounds of copper and 1.97 million ounces of gold. From PTFI's operational performance, PTFI managed to record a net profit of 3.16 billion US dollars or the equivalent of IDR 48.79 trillion (assuming IDR 15,439 per USD). Overall state revenues in the form of taxes, royalties, dividends and other levies will reach more than IDR 40 trillion in 2023, including contributions to the regions reaching more than IDR 9 trillion.

Tony added that PTFI also continues to be committed to providing benefits to communities around its operational areas through various social investment programs. In 2023, PTFI's social investment value will reach almost IDR 2 trillion and will continue to increase by around 100 million US dollars or IDR 1.5 trillion per year until 2041.

"Our success as a company is when the community in the environment around the operational area improves their standard of living and welfare. "We will continue to grow and develop with Papua until the completion of mining operations in 2041," said Tony.

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