Freeport Indonesia's Production Increases
PT Freeport Indonesia (PTFI) underground mining ore production is estimated to increase significantly in 2021 compared to the last 2 years.
"This is in line with PTFI's efforts to continue to increase its underground mining ore production," said Freeport-McMORan President & CEO Richard C. Adkerson in his report, quoted on Sunday (25/10).
Based on Freeport-McMoRan Inc.'s third-quarter 2020 financial and operating reports, the average ore production at the Grasberg Block Cave and Deep Mill Level Zone (DMLZ) underground mines reaches 60,000 metric tons (MT) of ore per day.
Adkerson in a conference call, Friday (23/10), said that the activities to increase underground mining production at the Grasberg Block Cave and DMLZ were a little choked up due to the Covid-19 pandemic situation, which is related to unscheduled labor and material maintenance.
However, he confirmed that the underground mine ramp-up activities were still going according to plan. At the end of September 2020, the total average production from the Grasberg Block Cave and DMLZ was around 94,000 MT/day.
“At the end of the quarter, mining rates at Grasberg Block Cave and DMLZ had reached the target levels. We continue to target metal production to approach 90 percent of the ramp-up target by the middle of next year, "he said.
PTFI will also continue to increase the number of new draw bells, which currently have 300 to increase production. Freeport Indonesia targets copper and gold production in 2021 to double compared to this year's target of 1.4 billion pounds and 1.4 million ounces.
As of the third quarter of 2020, PTFI copper production reached 543 million pounds, an increase of 17.78% compared to the same period in 2019 of 461 million pounds. Meanwhile, the gold production of companies operating in Papua during January-September 2020 reached 577,000 ounces, down 10.54% compared to the same period in 2019 of 645,000 ounces.
Bisnis Indonesia, Page-4, Monday, Oct 26, 2020
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