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Freeport Mcmoran Copper Gold Inc

Freeport Mcmoran Copper Gold Inc
Freeport-McMoRan Inc is close to reaching a $2.8 billion deal with China's Tsingshan Holding Group to build a copper smelter

KONTAN.CO.ID - JAKARTA. Freeport-McMoRan Inc is close to reaching a $2.8 billion deal with China's Tsingshan Holding Group to build a copper smelter in Indonesia's Weda Bay, senior minister Luhut Pandjaitan said on Wednesday.

"The smelter will produce copper pipes and wires of which output can be worth $10 billion or more," Luhut told IDX Channel, without specifying a timeline of the estimated output scale.

He said the facility would also make other products from copper that could be used as lithium battery components, to support the Indonesian government's ambition to build an electric vehicle (EV) supply chain in the country.

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