“We are accelerating construction activities in the fourth quarter of 2025 so that commissioning can take place in the fourth quarter of 2027,” said Achmad, Antam’s president director, during a working meeting with Commission XII of the House of Representatives (DPR) at the Senayan Parliament Complex in Jakarta on Wednesday.
The precious metal manufacturing plant project in Gresik, known as “Avere,” is being developed with an investment of US$70 million (approximately Rp1.14 trillion).
Its construction is a key part of the state-owned mining and metals company’s strategy to accelerate development of the downstream gold industry.
Once operational, the plant is projected to produce five million pieces of precious metal bars and coins, as well as industrial gold.
Achmad also said the new facility will absorb 30 tons of gold produced by the Precious Metal Refinery (PMR) facility, which is part of PT Freeport Indonesia’s (PTFI) copper cathode smelter in Manyar, Gresik.
“Currently, we are also collaborating with Freeport’s subsidiary, MIND ID, to maximize the gold produced by Freeport and to benefit the Indonesian people by purchasing it in the form of gold coins, which are authentic Indonesian products,” he added.
The development of the project aligns with growing demand for Antam’s gold products.
“PT Antam’s gold sales through national brand Logam Mulia are also continuing to increase, indicating a significant need for gold raw materials,” Achmad said.
He further emphasized that “public awareness of using gold as an investment instrument and also for hedging or securing value is increasing.”
Related news: Indonesia ready to establish bullion banks: Minister Thohir
Reporter: Arnidhya Nur Zhafira, Aditya Eko Sigit Wicaksono
Editor: M Razi Rahman
Copyright © ANTARA 2025