RI Targets 61% Stake in Freeport: Will Operational Control Shift?

By Editorial Team 15/11/2023
tambang terbuka PT Freeport Indonesia
Summary

President Joko Widodo will extend the PT Freeport Indonesia (PTFI) contract for an additional 20 years after the expiration of the special mining permit (IUPK) at the Grasberg Mine in Papua in 2041. He conveyed this during a meeting with Freeport-McMoRan Inc Chief Executive Officer Richard Adkerson in Washington DC, United States, on Nov 14.

The approval for the extension of the contract comes with an additional condition for a national entity's ownership of a ten percent stake in PTFI. "I am pleased to hear that discussions regarding the increase of a ten percent stake in Freeport in Indonesia and the extension of the mining permit for 20 years have reached their final stages," Jokowi said. The increased Freeport stake is expected to be finalised by the end of November 2023.

Register now and get free access.

If you want to get free access to our Daily Insights and Weekly Digest, please click "Sign up" button below. If you already have an account, please login.

Sign up
Log in
What do subscribers receive?

As a subscriber, you'll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Register now and get free access, click here to register. Feel free to contact us with any additional questions you have.