Freeport Copper Production Predicted to Drop to 41mn Tons

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Petir Garda Bhwana

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  • TEMPO.CO, JakartaThe mining giant PT Freeport Indonesia or PTFI predicted its copper production will be at around 41 million tons this year, drastically dropped when compared to last year’s 178,100 tons daily.

    PTFI president director Tony Wenas explained that the declining production was in line with the transition process from an open pit into an underground mining operation. He predicted the production would be relatively the same and would not see a significant increase until next year.

    Read also: Freeport Indonesia Starts Sending Its Mining Equipments Out

    However, the poor condition, Tony added, would go better in 2021. “The production in 2021 will raise up to 60 million tons copper per year, and in 2022, we will return to a normal production level,” said Tony Wednesday, February 27.

    Throughout 2018, PTFI’s copper sales reached 1.13 billion pounds with the production at 1.16 billion pounds. As for gold, the sales amounted to 2.37 million ounces with the production at 2.42 million ounces.

    CEO Freeport-McMoRan Inc., one of PTFI shareholders, Richard C. Adkerson said that the open pit mining operation in Grasberg would complete in the first semester of 2019. The company also further developed its production in underground mining during the shift.

    Richard expressed optimism that the gold and copper mining company could achieve the set target on Freeport`s underground mining operation, which was daily producing over 200,000 tons of gold and copper ore.

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