Jakarta – A fire has broken out on Monday in Freeport Indonesia’s Manyar smelter in Gresik, East Java province, a company spokesperson said, adding that fire fighters are currently trying to put the blaze out.
The $3.7 billion copper smelter was completed in June and was expected to produce first batch of output in September, however due to water and steam leakage during an initial test period, production will be delayed until November, Reuters reported last month. “A fire broke out at the PTFI smelter sulfuric acid factory on Monday October 14 at 1745 ,” Freeport Indonesia spokesperson Katri Krisnati said, adding that no casualties were reported.
The smelter has 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."Buying emerged in the first two weeks when prices were relatively low," He Tianyu, a copper analyst at commodity research house CRU, said.MBK and Young Poong had conducted a tender offer to purchase up to 14.6% of Korea Zinc shares, for an estimated price tag of up to $1.85 billion.