standingonthesideoflove.org – On March 17, 2025, President Prabowo Subianto inaugurated PT Freeport Indonesia’s (PTFI) Precious Metal Refinery (PMR) located in the Java Integrated Industrial and Ports Estate (JIIPE) Special Economic Zone, Gresik, East Java. This state-of-the-art facility is poised to enhance Indonesia’s position in the global precious metals industry.
Facility Overview
The PMR utilizes advanced hydrometallurgical technology to process anode slime, a byproduct of copper refining, into high-purity precious metals such as gold and silver. With an investment of approximately USD 630 million (around IDR 10 trillion), it stands among the world’s largest facilities of its kind. The refinery’s integration within JIIPE Gresik establishes it as Indonesia’s first comprehensive precious metals processing ecosystem, encompassing upstream mining to downstream refining.
Economic and Industrial Impact
The inauguration of the PMR signifies a pivotal advancement in Indonesia’s resource management and industrial capabilities. By processing raw materials domestically, the facility adds significant value to the country’s mineral resources, aligning with national objectives to reduce raw material exports. This initiative is anticipated to generate thousands of new jobs in the Gresik region, stimulate the growth of downstream industries reliant on precious metals, and bolster local government revenues.
Government and Stakeholder Perspectives
President Prabowo emphasized the strategic importance of the refinery About, highlighting its role in transforming Indonesia from an exporter of raw materials to a producer of refined, high-value products. He acknowledged PTFI’s longstanding contribution to the national economy and commended the company’s commitment to responsible operations and investment in domestic processing facilities.
Energy and Mineral Resources Minister Bahlil Lahadalia underscored the PMR’s alignment with the government’s industrial downstreaming agenda, noting that such facilities enhance the value of mining products and strengthen Indonesia’s position as a leading gold producer globally.
Future Prospects
The operationalization of the PMR positions JIIPE Gresik as a competitive global hub for precious metals processing. The facility’s environmentally friendly technology and integration within a special economic zone are expected to attract further investments, fostering sustainable economic growth and reinforcing Indonesia’s industrial capabilities in the global market.