With school back in session, students everywhere are looking for additional income. For a college student or young adult, the idea of starting a business can sound expensive before it even begins.
In the Democratic Republic of Congo, Tenke Fungurume Mining, a Freeport-McMoRan company, has operations that generate significant economic stimulus throughout most of the Kolwezi region and into the provincial capital of Lubumbashi.
Significant indirect and induced economic impacts arise from company policy to source as many goods and services as possible from local suppliers and through the spending habits of the company’s approximately 8,000 employees and contractors.
PT Freeport Indonesia, a Freeport-McMoRan company, commissions the University of Indonesia’s Institute of Economics and Social Research to conduct economic impact assessment of PT Freeport Indonesia’s operations. The most recent study, conducted in 2012, measured PT Freeport Indonesia’s economic impact on a local, regional, and national level from 2006 to 2011. The study revealed that PT Freeport Indonesia contributed to up to 94.7 percent of the gross domestic product of the Mimika Regency, 45.4 percent of Papua Province, and 0.8 percent of Indonesia. The prior study, conducted in 2009, concluded that the multiplier effect of PTFI’s workforce created 227,000 direct and indirect work opportunities, including 128,000 direct and indirect work opportunities in Papua alone.
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