PT Freeport Indonesia (PTFI) has allocated around IDR 3.35 trillion of its net profit in 2023 to the Central Papua Provincial Government, producing districts, and other districts in Central Papua Province.

PTFI's President Director, Tony Wenas, detailed the IDR 3.35 trillion funds divided into Central Papua Provincial Government around IDR 839 billion, and Mimika Regency Government around IDR 1.4 trillion. Meanwhile, other regencies in Central Papua province, namely Nabire, Paniai, Puncak, Puncak Jaya, Dogiyai, Deiyai, and Intan Jaya regencies each received IDR 160 billion.

"The payment of the regional share of net profit is the realization of the company's commitment to encourage economic improvement of local governments," Tony said in a written statement on Wednesday (17/4/2024).

Tony explained that in 2023 PTFI managed to produce 1.65 billion pounds of copper and 1.97 million ounces of gold. From PTFI's operating performance, PTFI managed to score a net profit of USD 3.16 billion, equivalent to IDR 48.79 trillion (assuming IDR 15,439 per USD).

Overall state revenue in the form of taxes, royalties, dividends, and other levies reached more than IDR 40 trillion in 2023, including contributions to the regions reaching more than IDR 9 trillion.

Tony added that PTFI continues to be committed to providing benefits to communities around its operational areas through various social investment programs. In 2023, the value of PTFI's social investment reached nearly IDR 2 trillion and will continue to grow by around USD 100 million or IDR 1.5 trillion per year until 2041.

"Our success as a company is when the communities around our operational areas improve their standard of living and welfare. We will continue to grow and develop with Papua until the completion of mining operations in 2041," Tony said.
 

Image source: CNBC Indonesia / Wahyu Daniel
Source: https://www.cnbcindonesia.com/news/20240417144243-4-531032/freeport-cetak-laba-rp-48-t-di-2023-rp-335-t-dibagi-ke-daerah