Mining is one type of activity that extracts minerals and other mining materials from the earth. Mining is the process of extracting material that can be extracted from the earth.

Gold is a precious metal that has become a valuable item for centuries. Not only as jewelry, but also as a medium of exchange like money. Even the availability of gold reserves in a country directly affects the economy.

It is not surprising that the existence of a gold mine has always been a special concern of various parties. Both the government, investors, and even environmental activists.

Grasberg

  • Miner: PT Freeport Indonesia
  • Location: Papua, Indonesia
  • Starting to actively operate: 1991
  • Production: 1,554 million troy ounces (2017)
  • Reserves: 33.9 million troy ounces (2017)



The Largest Gold Mine in the World



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PT Freeport Indonesia opened the Grasberg mine in Papua, Indonesia since 1990. Then in 1991, this Freeport-McMoran subsidiary started its mining activities.

Until now, Freeport Indonesia is still the main miner in Grasberg. Their existence is controversial because it is considered not to have a good impact on local communities around the mining area. In addition, the unfavorable profit sharing for the Indonesian government also triggered a debate over the extension of Freeport's contract some time ago.

At present, the Indonesian government is trying to control 51% of Freeport Indonesia's shares without waiting for the contract to expire, namely in 2021. Thus, the majority of mining profits can be processed by the Indonesian government.
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The Grasberg mine is said to be one of the largest gold reserves in the world. The gold reserves owned by Grasberg are 33.9 million troy ounces, and are not expected to run out until the year 2100.

In addition to gold, Grasberg also has silver reserves of 153.1 million troy ounces and 38.8 billion pounds of copper. In total of these three mining activities, the value can reach USD 160 billion.

Source: https://www.aturduit.com/articles/tambang-emas-terbesar-di-dunia/