Freeport moves ahead with plan to build underground facility: Adkerson
Tuesday, October 8 2013 - 01:22 AM WIB
President and CEO of US-based Freeport-McMoRan Copper & Gold Inc., Richard C. Adkerson said that the company is moving ahead with its plan to expand its gold and copper mine in Papua with underground facility after 2016, despite the Indonesian government?s planned ban on mineral ores export starting next year.
Adkerson made the statement after PT Freeport Indonesia President Director Rozik Soetjipto said that the firm may reduce production capacity if the government does not allow it to export ores next year.
?Yes,? Adkerson said when asked whether his firm will move ahead with its plan to develop underground mine after 2016.
?We have a very large undermine that we developed in the past. But we are spending billions of dollars of capitals to develop underground resources below the current open pit-mine,? he told Petromindo.com as saying on the side lines of APEC CEO Summit in Nusa Dua Bali on Monday evening.
The shifting of the mine to underground facility is expected to boost output to 240, 000 tons ores per day after 2016 from the current level of 220,000 tons ores per day, Adkerson has said previously.
Editing by Reiner Simanjuntak