PT #Freeport Indonesia (PTFI) and China’ Tsingshan Steel is finalizes the development of #copper smelter in Weda Bay, Central Halmahera, North Maluku. The unit of a unit of the United States (US) copper and gold producer, Freeport-McMoRan Inc. (NYSE: FCX) and PT Indonesia Asahan Aluminium (MIND ID) and the Chinese company would sign a contract worth US$2.8 billion soon.
The copper smelter will also produces sulfuric acid which can be used as a material for making lithium #batteries. Previously, Freeport Indonesia president director, Tony Wenas, admitted that Tsingshan Steel was approaching him to build a copper smelter in Weda Bay. He said that the cooperation plan was still in the discussion stage and there had not been any agreement between the two parties.
Recently, the American miner, Freeport-McMoRan Inc. announced to expand its existing copper #smelter at Gresik. The company also wants to adding a precious metals refinery in place of constructing an entirely new smelter nearby.
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The copper smelter will also produces sulfuric acid which can be used as a material for making lithium #batteries. Previously, Freeport Indonesia president director, Tony Wenas, admitted that Tsingshan Steel was approaching him to build a copper smelter in Weda Bay. He said that the cooperation plan was still in the discussion stage and there had not been any agreement between the two parties.
Recently, the American miner, Freeport-McMoRan Inc. announced to expand its existing copper #smelter at Gresik. The company also wants to adding a precious metals refinery in place of constructing an entirely new smelter nearby.
Access #TheInsiderStories via our Twitter post.
#StaySafe #StayHealthy
View on Instagram