Grasberg mine

The Grasberg mine has one of the largest reserves of gold and copper in the world. It is located in Mimika Regency, Central Papua, Indonesia near Puncak Jaya. It is operated by PT Freeport Indonesia (PTFI, ''see below''), a joint venture among the government of Indonesia, government of Central Papua, and American company Freeport-McMoRan (FCX).

FCX operates under a Contract of Work (CoW) agreement with the government of Indonesia, which allows Freeport to conduct exploration, mining and production activities in a area (Block A). It also conducts exploration activities in a area (Block B). At 31 December 2022 Grasberg had proven and probable mineral reserves of 30.8 billion pounds (14.0 million tonnes) of copper, 26.3 million ounces (808 tonnes) of gold and 121.3 million ounces (3773 tonnes) of silver. Grasberg has three underground mining operations: Grasberg Block Cave, Deep Mill Level Zone and Big Gossan. The 2023 production was of copper, of gold and of silver. The concentrate is delivered by pipeline to Amamapare.

In August 2017, FCX announced that it will divest its ownership in PTFI so that Indonesia owns 51%. In return the CoW will be replaced by a special license (IUPK) with mining rights to 2041 and FCX will build a new smelter by 2022. Provided by Wikipedia