What is Freeport Indonesia's Contribution to Indonesia?

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Viva Budy Kusnandar 13/12/2021 17:54 WIB

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From 1992 to 2021, PTFI directly contributed US$21.1 billion, or approximately Rp 300 trillion, to Indonesia.

PT Freeport Indonesia's Contribution to Indonesia (1992-2020)

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What is Freeport Indonesia's Contribution to Indonesia?

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PT Freeport Indonesia's Contribution to Indonesia (1992-2020)

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PT Freeport Indonesia (PTFI) is one of the world's largest gold mines. After a lengthy and complex divestment process, Indonesia finally acquired 51.24% of PTFI's shares.

From 1992 to 2021, PTFI directly contributed US$21.1 billion, or approximately Rp 300 trillion (at an exchange rate of Rp 14,200 per US$), to Indonesia. This includes US$1.6 billion in dividends, US$2.6 billion in royalties, and US$16.86 billion in taxes and other levies.

PTFI also indirectly contributed US$49.1 billion over nearly five decades. This indirect contribution includes employee salaries, domestic purchases, regional development, community development, and domestic investment.

According to a study by LPEM-UI, PTFI's operations contribute 0.78% to Indonesia's Gross Domestic Product (GDP). PTFI also contributes 34% to the GDP of Papua Province and 67.7% to the GDP of Mimika Regency.

PTFI's presence has created 210,000 jobs, with 64,000 in Papua and 146,000 outside Papua.

Editor : Annissa Mutia

"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."