Jokowi Glad Freeport Adds Shares And Extends 20 Years Of Mining Permit

JAKARTA - President Joko Widodo received Freeport Chairman McMoRan Richard Adkerson on the sidelines of a visit in Washington DC, United States, Monday 13 November Local Time.

During the meeting, President Jokowi welcomed the discussion about the addition of Freeport shares in Indonesia to the extension of the mining permit which had reached the final stage.

"I am pleased to hear that the discussion on the addition of 10 percent of Freeport's shares in Indonesia and the extension of mining permits for 20 years has reached the final stage," said President Jokowi to Richard Adkerson, quoted by ANTARA, Tuesday, November 14.

President Jokowi also hopes that this can be resolved by the end of November this year.

In a separate statement after the meeting, the Coordinating Minister for Maritime Affairs and Investment Ad Interim Erick Thohir assessed that currently relations between Indonesia and the United States continue to increase, especially in the field of trade.

"If we look at the surplus of our trade with America, it has reached almost 16 billion US dollars and the growth has been fast in recent years. American investment in Indonesia is now number four, which has never happened before," said Erick.

Erick, who is also the Minister of State-Owned Enterprises (BUMN), said that this was the basis for President Jokowi to continue to encourage investment in the United States in Indonesia, one of which was Freeport McMoRAN.

"What we happen to be SOEs already control 51 percent," he continued.

Erick further revealed that the meeting between President Jokowi and Freeport CEO McMoRAN was also discussed regarding downstreaming conducted by Freeport.

Erick said that currently Freeport is not only carrying out gold and copper mining activities, but has built a smelter to process it.

Erick said that Freeport's investment was indeed lost, from what was previously only pure gold and copper mining, the industrialization has now begun to be lowered by opening a smelter in East Java.

Erick also revealed that during the meeting, Freeport conveyed its commitment to building other smelters in other locations in Indonesia, including in Fakfak Regency, West Papua Province.

Erick assessed that a number of things that were conveyed and discussed at the meeting were very good in order to increase investment which would have an impact on improving the welfare of the Indonesian people.

"These things were conveyed very positively to continue to increase investment from abroad to create jobs in Indonesia as the President aspires to," he said.

Also accompanying the President in the meeting were Coordinating Minister for Maritime Affairs and Investment Ad Interim Erick Thohir, Coordinating Minister for the Economy Airlangga Hartarto, Minister of Foreign Affairs Retno Marsudi, Minister of Energy and Mineral Resources Arifin Tasrif, and Indonesian Ambassador to the United States Rosan Roeslani.

Also attending the meeting was the President Director of PT Freeport Indonesia Tony Wenas.