PTFI and ANTAM Sign Gold Sale and Purchase Agreement to Realize Downstreaming in the Country
07 November 2024
Jakarta, November 7, 2024 - PT Freeport Indonesia (PTFI) President Director Tony Wenas and PT Aneka Tambang Tbk (ANTAM) President Director Nico Canter signed a gold sale and purchase agreement with a purity level of 99.99 percent. The signing was witnessed by Minister of State-Owned Enterprises Erick Thohir and Deputy Minister of Energy and Mineral Resources Yuliot Tanjung in Jakarta, Thursday.
"With this collaboration, we see MIND ID, ANTAM and Freeport Indonesia synergizing for the good of the nation. Indonesia must become an independent country," Erick said in his speech.
Deputy Minister of Energy and Mineral Resources Yuliot Tanjung in his speech explained the important role of the PTFI smelter in advancing the gold refining industry in Indonesia."The government has given a mandate to PTFI through a Special Mining Business License (IUPK) to build a copper smelter and anode mud refining facility or Precious Metal Refinery (PMR)," Yuliot said.
Yuliot added that PTFI's collaboration with ANTAM is a clear proof of commitment in developing the mineral processing industry in Indonesia and increasing competitiveness in the global market.
Meanwhile, Tony Wenas explained that PTFI PMR is one of the pure gold bar producers in Indonesia with a refining capacity of around 50 tons of gold and 200 tons of silver per year as well as Platinum Group metals, namely 30 kg of platinum, 375 kg of Palladium.
"The first gold production from PTFI's PMR is planned for the week of December 2, 2024. Current estimates until the end of 2024 gold production of 0.5 tons and in the first quarter of 2025 of 4.75 tons," Tony said.
Tony emphasized that the signing of the gold sale and purchase agreement between Freeport Indonesia and ANTAM is a commitment to realize domestic downstreaming.
"The synergy of gold absorption from PTFI is ANTAM's commitment to strengthen the precious metal gold business to meet the needs of the public in investing in gold. In addition, by strengthening domestic raw material procurement, the company can also reduce dependence on imports," said Nico.
In this business agreement, ANTAM will purchase 30 tons of gold with a purity of 99.99% from PTFI. The gold raw materials from PTFI will then be processed by ANTAM at the Precious Metal Processing and Refining Plant to become ANTAM precious metal products.
Through this strategic partnership, PTFI and ANTAM are committed to continue contributing to building a competitive national mining industry. Domestic downstreaming is key to creating greater added value, thus accelerating the realization of the vision of a Golden Indonesia.
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