PT Freeport Indonesia (PTFI) and PT Aneka tambang Tbk (ANTAM) have 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 on November 7, 2024. The first gold production from PTFI’s Purification Plant is planned for the second week of December 2024, with estimates of 0.5 tons for the end of 2024 and 4.75 tons in the first quarter of 2025. PTFI aims to realize the downstream processing of gold and silver, with a purification capacity of around 50 tons of gold and 200 tons of silver per year, along with Platinum Group Metals. This agreement is part of efforts to develop Indonesia’s mineral processing industry and increase competitiveness in the global market, while also reducing dependence on imported products.
Interview with Minister of Energy and Mineral Resources Yuliot Tanjung on Indonesia’s Gold Industry
Table of Contents
- Interview with Minister of Energy and Mineral Resources Yuliot Tanjung on Indonesia’s Gold Industry
- Q: Can you provide an overview of the recent agreement between Antam and Freeport?
- Q: What is the significance of this agreement for Indonesia’s gold industry?
- Q: How does this agreement align with Indonesia’s mineral processing goals?
- Q: What are the long-term benefits of this partnership?
- Q: How does this agreement impact Antam’s operations?
- Conclusion
on November 7, 2024, Minister of Energy and Mineral Resources Yuliot Tanjung discussed the recent developments in indonesia’s gold industry in Jakarta. The interview covers the collaboration between PT Aneka Tambang Tbk (antam) and PT Freeport Indonesia (PTFI), the meaning of the new sales agreement, and the future of Indonesia’s mineral processing industry.
Q: Can you provide an overview of the recent agreement between Antam and Freeport?
Minister Yuliot Tanjung: Yes, certainly. PT Aneka Tambang Tbk (Antam) and PT Freeport Indonesia (PTFI) have signed a notable sales agreement. Under this agreement, Antam will purchase 30 tons of gold bullion with a 99.99% purity level from Freeport. This deal is valued at around Rp. 200 trillion, marking a major milestone in Indonesia’s efforts to strengthen its domestic gold supply chain [[1](https://money.kompas.com/read/2024/11/07/202705126/antam-beli-emas-dari-freeport-senilai-rp-200-triliun)].
Q: What is the significance of this agreement for Indonesia’s gold industry?
Minister Yuliot Tanjung: This agreement is crucial for several reasons. Frist, it reduces our dependence on imported gold, which has been a significant challenge for Indonesia.By purchasing gold from Freeport, we are enhancing our domestic supply chain and ensuring a steady and high-quality gold supply. This collaboration is also part of our broader strategy to develop Indonesia’s mineral processing industry and increase our competitiveness in the global market [[2](https://indonesiasentinel.com/indonesias-gold-industry-boosted-by-1-2-billion-freeport-antam-deal/)].
Q: How does this agreement align with Indonesia’s mineral processing goals?
Minister Yuliot Tanjung: This agreement aligns perfectly with our goals to realize downstream processing of gold and silver. PTFI aims to produce around 50 tons of gold and 200 tons of silver per year,along with Platinum group Metals. The first gold production from PTFI’s Purification Plant is planned for the second week of December 2024, with estimates of 0.5 tons for the end of 2024 and 4.75 tons in the first quarter of 2025. This will considerably boost our domestic production capabilities and reduce our reliance on foreign imports [[3](https://www.kompas.id/baca/english/2024/11/07/en-tak-lagi-impor-antam-beli-emas-dari-freeport)].
Q: What are the long-term benefits of this partnership?
Minister Yuliot Tanjung: The long-term benefits are substantial. Firstly, it will create a more robust and self-sufficient gold industry in Indonesia. Secondly, it will generate significant economic benefits, including job creation and increased revenue from mineral exports.Lastly, it will position Indonesia as a major player in the global gold market, enhancing our international standing and economic stability.
Q: How does this agreement impact Antam’s operations?
Minister Yuliot Tanjung: for Antam, this agreement means they will have a reliable and high-quality gold source, which will enhance their production capabilities and market competitiveness. antam itself has gold mining areas, but their reserves are limited. This partnership allows Antam to supplement its own production with high-purity gold from Freeport, ensuring a consistent supply and improving their operational efficiency [[3](https://www.kompas.id/baca/english/2024/11/07/en-tak-lagi-impor-antam-beli-emas-dari-freeport)].
Conclusion
The agreement between Antam and Freeport is a significant step forward for Indonesia’s gold industry.It not only strengthens the domestic supply chain but also aligns with the country’s broader goals of developing its mineral processing industry and reducing dependence on imported products. With PTFI’s Purification Plant set to start production soon, Indonesia is poised to become a major player in the global gold market, bringing economic benefits and enhancing international competitiveness.
