JAKARTA : The construction of U.S. mining giant Freeport McMoRan's Indonesian copper smelter, one of the biggest in the world, will be completed by the end of this year, an official at its Indonesian unit said on Thursday.The $3 billion facility in Gresik, East Java, will have capacity of 1.7 million tonn
JAKARTA : The construction of U.S. mining giant Freeport McMoRan's Indonesian copper smelter, one of the biggest in the world, will be completed by the end of this year, an official at its Indonesian unit said on Thursday.
The $3 billion facility in Gresik, East Java, will have capacity of 1.7 million tonnes of copper concentrate and is expected to start operations gradually in 2024. Agung Laksamana, Freeport Indonesia's executive vice president of external affairs, said that"substantial" construction of the smelter would reach 100 per cent completion by the end of 2023.Freeport's statement comes as President Joko Widodo reiterated this week that the country would stick to its plan to ban exports of copper ore to spur domestic processing of the material in June.
Asked about whether Freeport would be allowed to export beyond June if its smelters were not ready, the president told Reuters on Wednesday that while he has not decided on any leniency, he would try to find a solution without reversing the ban. Widodo blamed the delay in Freeport's smelter delay on the pandemic.Source: Reuters
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Indonesia's 2023 GDP growth seen slowing slightly from 2022's 5.2%-5.3% -Finance MinisterJAKARTA : Indonesia's economy likely grew within a range of 5.2 per cent to 5.3 per cent in 2022, and a slight deceleration is expected this year due to slowing global growth, its finance minister Sri Mulyani Indrawati said on Tuesday.Indonesia is due to publish official data for the fourth quarter and fu
Read more »
Surfing-World's best surfers kick off 2023 tour at Pipeline, Olympic spots beckonKelly Slater will look to defend his Billabong Pro Pipeline title as surfing's world championship kicks off in Hawaii this week, with the added allure of spots at the Paris 2024 Olympics up for grabs at the end of the 10-stop global tour.The 50-year-old Floridian stunned the surfing world to win the event
Read more »
Mobile phone, PC shipments to fall again in 2023, Gartner saysSTOCKHOLM : Shipments of personal computers and mobile phones are expected to fall for the second straight year in 2023, with phone shipments slumping to a decade low, IT research firm Gartner said on Tuesday. Mobile phone shipments are projected to fall 4 per cent to 1.34 billion units in 2023, down f
Read more »
S-Oil expects regional refining margins to stay elevated in 2023SEOUL : South Korea's S-Oil said on Wednesday it sees regional refining margins in 2023 remaining elevated over pre-2022 levels, though the company posted a loss in the fourth quarter of 2022 on a fall in oil prices during the period. The company expects 'regional refining margins to maintain an elevated
Read more »
2023 survey shows that Singapore women are less likely than men to pursue career-related trainingSo maybe you’ve seen the Institute of Policy Studies’ (IPS) latest survey making its way around town. Well, let’s just say, it yields some interesting insights. Published on Jan 16, 2023, the study titled IPS Survey On Future Of Work Singaporeans Want found that women in Singapore are not only less likely than men to pursue career self-management skills, but...
Read more »
34 most anticipated movies of 2023This year is the one for everyone when it comes to the big screen – major blockbusters, the start of Marvel’s Phase 5, spine-chilling horror, and even throwbacks to old favourites. There is a lot to look forward to, and Geek Culture is here with a list of the 34 most anticipated movies of 2023, all in order of their...
Read more »