Wednesday, May 29, 2024

Freeport pours sevent percent of 2023 profit to Papua regional administrations

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Audina Nur




PT Freeport Indonesia (PTFI) has deposited around Rp3.35 trillion (about US$207 million), or about sevent percent out of its 2023 profit of Rp48.79 trillion, to the regional administrations in Papua.

President Director of Freeport Indonesia (PTFI), Tony Wenas, said that the allocated fund was distributed to the Central Papua provincial administration, the regency where Freeport mining site is located, and other regencies in Central Papua province.

“The payment to the regional administrations taken out of the net profit is a realization of the company’s commitment to encourage the economic improvement of regional administrations,” Tony said on Wednesday, April 17, 2024.

He cited that of the Rp3.35 trillion, Rp 839 billion was allocated to the Central Papua provincial administration and about Rp 1.4 trillion to the Mimika regency administration. Meanwhile, other regencies in Central Papua province, namely Nabire, Paniai, Puncak, Puncak Jaya, Dogiyai, Deiyai, and Intan Jaya, each received around Rp160 billion.

In 2023, PTFI produced 1.65 billion pounds of copper and 1.97 million ounces of gold. From the operational performance of PTFI, it managed to generate a net profit of US$3.16 billion or equivalent to Rp48.79 trillion.

Tony said PTFI is committed to providing benefits to communities around the operational areas through various social investment programs. In 2023, Tony cited that the value of PTFI’s social investment reached almost Rp2 trillion and will continue to increase by around $100 million or Rp1.5 trillion per year until 2041.

“Our success as a company is when the communities around the operational area could improve their standard of living and welfare. We continue to grow and develop together with Papua until the completion of mining operations in 2041,” Tony said.

Audina Nur






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