ASIATODAY.ID, GRESIK – President of the Republic of Indonesia, Prabowo Subianto inaugurated a gold smelter owned by PT Freeport Indonesia (PTFI) in Gresik, East Java, on Monday, March 17, 2025.
This metal refining facility, especially gold, was built with an investment of US$ 630 million and is the largest in the world.
With the establishment of this processing industry, concentrated raw materials can now be converted and refined into precious metals, such as gold, silver, and other products.
“This is an extraordinary achievement for our nation. We must not only sell raw materials, but must produce final products with greater added value,” said President Prabowo when inaugurating the smelter.
According to Prabowo, the presence of this industry is an important milestone in strengthening national economic independence. He also emphasized that this smelter is the largest in the world in one entity, covering the entire process from upstream to downstream.
“We should be grateful for the existence of this industry. This is a big step in building our natural resource sovereignty,” he added.
Prabowo also reminded that Indonesia is one of the countries with the largest gold reserves in the world, ranking sixth globally. Therefore, he emphasized the importance of good management so that this natural wealth can provide maximum benefits for the nation.
“We want to ensure that our natural wealth is managed optimally and there are no deviations in its management,” he said.
With the presence of this refining facility, it is hoped that Indonesia can increase the export value of processed products and strengthen its position in the global metal industry.
On the same occasion, the Minister of Energy and Mineral Resources of Indonesia, Bahlil Lahadalia said that the construction of a gold smelter in Indonesia is a big step in the precious metal industry. He also said that this smelter is the first and largest in Indonesia.
“Previously, we did not have a gold factory of this size. When I was still serving as investment minister, I was involved in the construction process,” said Bahlil.
It is known that the gold smelter facility is capable of producing significantly. From the processing of 3 million tons of Freeport concentrate, the smelter in Gresik is capable of producing 50 to 60 tons of gold per year.
Meanwhile, the Amman Mineral smelter with a capacity of 900,000 tons of concentrate is capable of producing 18 to 20 tons of gold per year.
“Overall, gold production from these two smelters can reach 60 to 70 tons per year for Indonesia,” said Bahlil. (AT Network)
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