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Freeport's Gold Reserves in Indonesia Decline 2018-2024

Adi Ahdiat 18/03/2025 19:00 WIB

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By the end of 2024, Freeport's remaining gold reserves in Indonesia will be 22.4 million ounces, a decrease of approximately 25% compared to 2018.

Estimated Gold Reserves of Freeport in Indonesia (2018-2024)

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Estimated Gold Reserves of Freeport in Indonesia (2018-2024)

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According to Freeport-McMoran's report, at the end of 2024, they held approximately 22.4 million ounces of gold reserves in Indonesia.

This volume decreased by 1.5 million ounces, or 6.3%, compared to the end of 2023.

Compared to 2018, Freeport's gold reserves in Indonesia at the end of 2024 had decreased by 7.8 million ounces, or 25.8%.

The figures cited here are a combination of proven and probable reserve estimates.

Freeport-McMoran is a mining company from the United States. They have operated in Indonesia since 1967 through their subsidiary, PT Freeport Indonesia (PTFI).

Since its initial presence in Indonesia, PTFI has been the mining operator in the Grasberg District, Mimika Regency, now part of Central Papua Province.

Then, since 2018, the Indonesian government has acquired a majority stake in PTFI through MIND ID, the national mining state-owned enterprise holding company.

Currently, the Indonesian government, through MIND ID, holds 51.24% of PTFI's shares, with the remainder held by Freeport-McMoran.

"Freeport-McMoran holds a 48.76% stake in PTFI and manages its operations," as quoted from *Freeport Reports Fourth-Quarter and Year Ended 2024 Results*.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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