FREEPORT - SINGAPORE. PT Freeport Indonesia and Mitsubishi Material Corporation signed an memorandum of understanding on Friday to expand their copper and refining plant in Gresik, Freeport Indonesia spokesman told Reuters on Saturday.
The copper smelter, located east of Indonesia's Java island, is operated by the two companies under a joint venture called PT Smelting, which aims to increase its capacity from 1 million dry metric tonnes (DMT) per year to 1.3 million DMT per year, Freeport Indonesia spokesman, Riza Pratama said.
"PT Smelting's expansion work is scheduled to be completed in 2023," Riza said, adding that the financing for the expansion will be made by Freeport Indonesia.
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