The Grasberg Mine is located in the province of Papua, Indonesia, in the Sudirman Mountains. The mine is owned and operated by PT Freeport Indonesia (PTFI), a subsidiary of Freeport-McMoRan Copper & Gold Inc. (FCX). It is a copper and gold mine, with ore reserves containing copper, gold, and silver.
The mine is one of the largest gold mines and the third-largest copper mine in the world. There are estimated reserves of 106.2 billion pounds of copper and 104.2 million ounces of gold, and the mine produces around 1.1 billion pounds of copper and 1.2 million ounces of gold per year.
This super pit has been in operation since 1973 and employs 30,000 people today. The mine has faced environmental concerns and criticisms related to deforestation, water pollution, and waste management.
Find below the recent updates about this wonderful excavation of about 550 m deep:
- Operations Halted: The Grasberg mine was forced to halt operations due to flooding and a landslide, which damaged infrastructure near the milling complex.
- Copper Mark Certification: The Grasberg mine has received the Copper Mark certification, which is an assurance framework that promotes responsible production practices for copper.
- Contract Extension: Freeport McMoRan Copper & Gold (FCX) chairman Richard Adkerson has been in discussions with the Indonesian government to extend the company’s contract over the Grasberg mine beyond 2041.
- Production Increase: FCX has nearly doubled copper and gold production at the Grasberg mine following a ramp-up from depressed COVID operations.
- New Smelter: Construction of a new smelter in Gresik with a 1.7 million metric tons capacity is expected to be completed in 2024, which will process the bulk of the three million tons of copper concentrate the Grasberg produces each year.
