Final! Indonesia Gets 12 Percent Increase In Freeport Shares
JAKARTA - Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia revealed that Indonesia has completed the negotiation process for the addition of Indonesian shares in PT Freeport Indonesia (PTFI).
The chairman of the Golkar Party said Freeport Mc-MoRAN agreed to release its shares by 12 percent to Indonesia through the MIND ID mining holding.
"In addition to Freeport negotiations, I have declared the final. 12 percent have been added," Bahlil told the media crew in Jakarta, Tuesday, October 7.
According to Bahlil, this stock divestment is needed so that the exploration process can continue to be carried out considering that the resources in Papua are still very large. He said mining production in Grasberg, Tembagapura will peak in 2035.
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This share divestment process is also one of the requirements for the extension of PTFI's special mining permit (IUPK) which will end in 2041.
Previously, Bahlil said that part of the additional share divestment from Freeport Mc-MoRan to Indonesia would be handed over to Regional Owned Enterprises (BUMD) in Papua.
"And this, this stock is partially given to the Papuan BUMD, and this will happen later in the Post-2041," Bahlil told the medical crew at the Ministry of Energy and Mineral Resources Building, Friday, September 26.