Danantara Boss Targets RI Will Add Freeport Share Ownership 12 Percent

JAKARTA - The government plans to increase its share ownership in PT Freeport Indonesia to 12 percent. This target is higher than the previous 10 percent.

Danantara Indonesia CEO Rosan Roeslani said the technical discussion on additional share acquisitions had entered its final stage.

"My target is 12 percent (the addition of share ownership in PT Freeport Indonesia)," he said at the Presidential Palace Complex, Jakarta, Tuesday, September 16.

Furthermore, Rosan said the government would not spend the slightest amount of money for the plan to increase more than 10 percent of the shares.

"Free of charge, right," he said.

Rosan hopes that the 12 percent increase in shares can be completed in the near future. He said this plan is also just waiting for President Prabowo Subianto's blessing.

"In the near future we are waiting for directions from the President," he explained

Previously, Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia revealed that Indonesia's share ownership of PT Freeport Indonesia (PTFI) would increase by more than 10 percent.

According to Bahlil, there were developments in the negotiations so that from the previously planned divestment of 10 percent, it is now more massive than the initial estimate.

He has also reported the latest developments to President Prabowo Subianto.

"At first, we agreed to add 10 percent of Freeport shares. But earlier negotiations developed, God willing, were said to be more than that," said Bahlil, Monday, September 15.

Bahlil said Prabowo also ordered himself to speed up the communication process with PTFI while extending the PTFI Special Mining Business License (IUPK) after 2041.

"I was asked to be able to communicate acceleration and if it is fixed, God willing, we will consider continuing the contract," explained Bahlil.

However, the General Chairperson of the Golkar Party did not reveal exactly how much stock Indonesia would narrow down. He asked all parties to wait until the signature process was completed.

"How certain will I announce it after the signature of the extension process," said Bahlil briefly.

He ensured that the shares released by PTFI obtained by Indonesia at a fairly cheap price. Moreover, he said, the valuation value of PTFI is quite small so that the price obtained is much cheaper.

"For more than 10 percent, the cost is very cheap. Because we consider the asset valuation to be very small in book value," he said.