Antam - Freeport Sign Agreement On Copper Processing Project

Jakarta, Feb 11 (Antara) - PT Antam Tbk. signed a memorandum of understanding with PT Freeport Indonesia, for studying the feasibility of a copper processing project here on Tuesday. "This cooperation agreement reflects the two parties` wish to support the implementation of Law Number 6 of 2009 to increase and optimize the value of minerals through domestic processing and smelting," Antam`s President Director Tato Miraza stated in a press statement. He added that under the cooperation agreement, the two companies will evaluate technical, economical and commercial feasibility of a new copper smelting plant and other facilities related to further processing of smelting products. The signing of the MOU was done by Tato Miraza and PT Freeport Indonesia`s president Director Rozik B Soetjipto. PT Freeport Indonesia operates gold and copper mining in Grasberg in Indonesia`s eastern province of Papua. With regard to the development of downstream industry of mining commodities, Tato Miraza stated that Antam was now engaged in the commissioning of Chemical Grade Alumina in Tayan, West Kalimantan. Antam is also working on conducting an extension project on its ferronickel plant in Pomalaa and a ferronickel project in East Halmahera. It is also studying the results of a feasibility study and selecting strategic partners in the Smelter Grade Alumina project in Mempawah and a Nickel Pig Iron project.