financetom
Business
financetom
/
Business
/
Freeport Indonesia halts copper cathode output at Manyar after fire, CEO says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Freeport Indonesia halts copper cathode output at Manyar after fire, CEO says
Oct 17, 2024 12:32 PM

JAKARTA, Oct 15 (Reuters) -

Freeport Indonesia has halted copper cathode production at

its Manyar smelter after a fire on Monday, the company's chief

executive said in an interview with Kompas TV on Tuesday.

The

fire occurred

at a sulphuric acid unit at the Manyar site, located in

East Java province, and was extinguished late on Monday, the

company said in statement on Tuesday, adding it was still

looking into the cause.

"Copper cathode production will exhaust the sulfuric gas

that must be captured by this plant. With the occurrence of the

fire, we will halt the production process," Freeport Indonesia

Chief Executive Tony Wenas said.

Tony said the length of the production halt would depend

on an investigation of the smelter fire and the company would

review its production process.

The $3.7 billion copper smelter was completed in June

and

started

output in September. However, production was

delayed until November

due to water and steam leakage during an initial test

period.

The plant was expected to reach full capacity in January

2025 but Freeport will re-evaluate plans to ramp up production

following the fire, it said in the statement.

The smelter has an annual input capacity of 1.7 million

metric tons of copper concentrate, which could produce around

900,000 tons of copper cathode, 50 tons of gold and 210 tons of

silver a year.

There were no casualties or injuries after the incident at

the smelter, the CEO said.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Remy Cointreau's shares rise as investors bet on recovery
Remy Cointreau's shares rise as investors bet on recovery
Jun 6, 2024
LONDON (Reuters) -Remy Cointreau's shares rose more than 6% on Thursday after the drinks company expressed confidence about future growth following a tough year where profits fell sharply. The maker of Remy Martin cognac and Cointreau liquor faced difficulties throughout the year in the United States and China, which make up the vast majority of cognac sales. A tough economy...
MNC Capital raises offer to acquire Vista Outdoor
MNC Capital raises offer to acquire Vista Outdoor
Jun 6, 2024
June 6 (Reuters) - MNC Capital has raised its offer to acquire sporting and outdoor company Vista Outdoor ( VSTO ) to $39.50 per share, or over $3 billion, the investment firm said on Thursday. ...
Soccer-Fan convicted of head-butting former Man Utd player Keane
Soccer-Fan convicted of head-butting former Man Utd player Keane
Jun 6, 2024
June 6 (Reuters) - A 43-year-old man was convicted on Thursday of head-butting former Manchester United captain Roy Keane following a Premier League match. Scott Law, who British media reports said was an Arsenal fan, was found guilty of assault following a trial at Highbury Magistrates' Court. The incident took place on Sept. 3 last year after Arsenal's 3-1 win...
INSIGHT-Staff at drugmaker under U.S. scrutiny worked with Chinese military scientists
INSIGHT-Staff at drugmaker under U.S. scrutiny worked with Chinese military scientists
Jun 6, 2024
SYDNEY/SHANGHAI, June 6 (Reuters) - Employees of drugmaker WuXi AppTec, under U.S. scrutiny for its links to the Chinese military, co-invented altitude sickness treatments with People's Liberation Army (PLA) scientists, according to public patent records and science papers reviewed by Reuters. The news agency identified 10 patent filings that list six of WuXi AppTec's staff as co-inventors of altitude sickness...
Copyright 2023-2026 - www.financetom.com All Rights Reserved