 Grasberg mine open pit, 2007 | |
| Location | |
|---|---|
  Grasberg mine Location in Central Papua  Grasberg mine Location in Indonesia  Grasberg mine Location in New Guinea | |
| Location | Mimika Regency |
| Province | Central Papua |
| Country | Indonesia |
| Coordinates | 4°3′10″S 137°6′57″E / 4.05278°S 137.11583°E |
| Production | |
| Products | |
| Production |
|
| Financial year | 2023[1] |
| History | |
| Opened | 1972 |
| Owner | |
| Company | PT Freeport Indonesia |
The Grasberg mine has one of the largest reserves of gold and copper in the world.[2][3] It is located in Mimika Regency, Central Papua, Indonesia near Puncak Jaya. It is operated by PT Freeport Indonesia (PTFI, see below), a joint venture among the government of Indonesia, government of Central Papua, and American company Freeport-McMoRan (FCX).
FCX operates under a Contract of Work (CoW) agreement with the government of Indonesia, which allows Freeport to conduct exploration, mining and production activities in a 11,100-hectare (27,400-acre) area (Block A).[4][5] It also conducts exploration activities in a 167,000 ha (413,000 acres) area (Block B).[4] At 31 December 2022 Grasberg had proven and probable mineral reserves of 30.8 billion pounds (14.0 million tonnes) of copper, 26.3 million ounces (808 tonnes) of gold and 121.3 million ounces (3773 tonnes) of silver.[6][4] Grasberg has three undergound mining operations: Grasberg Block Cave, Deep Mill Level Zone and Big Gossan. The 2023 production was 680,000 tonnes (1,500,000,000 lb) of copper, 52.9 tonnes (1,700,000 ozt) of gold and 190 tonnes (6,000,000 ozt) of silver.[1] The concentrate is delivered by pipeline to Amamapare.
In August 2017, FCX announced that it will divest its ownership in PTFI so that Indonesia owns 51%. In return the CoW will be replaced by a special license (IUPK) with mining rights to 2041 and FCX will build a new smelter by 2022.[7][8]
- ^ a b Cite error: The named reference
freeport2023arwas invoked but never defined (see the help page). - ^ How much gold is there left to mine in the world?
- ^ "Grasberg Open Pit, Indonesia". Mining Technology. Retrieved 16 October 2017.
- ^ a b c "Indonesia". Freeport-McMoRan. Archived from the original on 2 September 2017.
- ^ "Our Project Area". PT Freeport Indonesia. Retrieved 9 October 2017.
- ^ "Annual Report for the fiscal year ended December 31, 2022" (PDF). Phoenix, AZ: Freeport-McMoRan Inc. 21 April 2023. Retrieved 14 July 2023.
- ^ "Freeport-McMoRan Announces Framework for Agreement with Indonesian Government Regarding Long-Term Operating Rights for PT Freeport Indonesia" (PDF). PT Freeport Indonesia (Press release). 29 August 2017. Retrieved 16 October 2017.
- ^ Jamasmie, Cecilia (29 August 2017). "Freeport to yield control of giant Grasberg copper mine to Indonesia". MINING.com. Retrieved 16 October 2017.