- Write by:
-
Thursday, July 15, 2021 - 22:18:49
-
822 Visit
-
Print
Mining News Pro - Freeport McMoRan will not proceed with plans to build a new copper smelter with China’s Tsingshan Holding Group, its local Indonesian unit, PT Freeport Indonesia’s spokesman told Reuters on Thursday.
Indonesian authorities have for months said that a deal would be made between Freeport Indonesia and the Chinese steel and nickel company to build a new copper smelter worth $2.8 billion.
Instead, Freeport Indonesia will go ahead with plans to build a new smelter near its existing copper refining operations in Gresik, East Java.
Freeport Indonesia separately announced on Thursday that it had signed an engineering, procurement and construction (EPC) contract with Japanese engineering company Chiyoda to build the new Gresik smelter, which will have a capacity of 1.7 million tonnes of copper concentrate a year.
The two companies will also build a precious metal refinery nearby.
“This contract signing affirms Freeport Indonesia’s commitment to build a smelter in accordance with divestment agreement in 2018,” PT Freeport Indonesia president director Tony Wenas said in the statement, without disclosing how much the deal was worth.
Tsingshan Holding Group did not immediately respond to requests for comments. The new copper smelter that it wanted to build with Freeport in Weda Bay would have been Tsingshan’s first copper project.
It is building nickel and aluminum smelters in Indonesia.
Short Link:
https://www.miningnews.ir/En/News/615002
Peru’s dented mining mojo, hit by years of political turmoil in the Andean country, is being buoyed by strong copper ...
Anglo American CEO Duncan Wanblad is meeting on Friday South African mines minister Gwede Mantashe for the first time ...
As BHP Group considers its next move, there’s one big question facing the mining world’s bankers, analysts and ...
Around $7 billion of infrastructure investments in the Democratic Republic of Congo by Chinese companies in a revised ...
Adani Enterprises Ltd., which posted a 38% fall in quarterly profit, said India’s markets regulator has queried it about ...
China’s leading metals companies, including its state iron ore buyer, are considering their next moves following BHP ...
BHP Group (ASX: BHP) has deployed a senior team including its chief executive officer to South Africa as the world’s ...
Albemarle, the world’s largest producer of lithium for electric vehicle batteries, on Wednesday missed first quarter ...
Barrick Gold Corp.’s chief executive officer says the gold miner will continue to host virtual-only annual general ...
No comments have been posted yet ...