Government Ensures Addition Of 12 Percent Freeport Shares Free

JAKARTA - Minister of Investment and Downstreaming/Head of BKPM Rosan Roeslani confirmed the addition of 12 percent share ownership of the government in PT Freeport Indonesia free of charge, aka free of charge.

"The results of our negotiations will get an additional 12 percent stake in the end. Free of charge, yes, so there is no cost at all. The implementation will continue to be finalized later in the draft," he said at the Jakarta International Convention Center, Wednesday, October 8.

Rosan said the government had reached an agreement with Freeport-McMoRan Copper & Gold Inc and now it's just a matter of completing the technical documents.

Furthermore, Rosan ensured that the process of adding 12 percent stake in the government at PT Freeport Indonesia would be signed in the near future.

"God willing soon. This is in process, but we have all the agreements that we have negotiated, actually we have, can be said that everything is finished, yes, and now we just have to look at the draft from the details, but the principle opportunity has been achieved," he said.

Regarding negotiations, Rosan said it had been going on for 6 months. He said this agreement not only concerns the aspect of share ownership, but also guarantees the continuity of mining operations with world-class safety and environmental standards.

"Negotiation is not only 1, 2 months, it's been a few months. It's been more than 6 months, so it just so happens that the agreement can be called finalization," he said.

"Of course with this (kahar), we will make sure more in terms of safety, in terms of world class mining operations will also be maintained," he continued.

Previously, Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia revealed that Indonesia had 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.

Menurut Bahlil, divestasi saham ini dibutuhkan agar proses eksplorasi dapat terus dilakukan mengingat sumber daya di Papua masih sangat besar.

Ia menyebut, produksi tambang di Grasberg, Tembagapura akan mencapai puncaknya pada tahun 2035.

Proses divestasi saham ini juga menjadi salah satu syarat perpanjangan izin usaha pertambangan khusus (IUPK) PTFI yang akan berakhir pada tahun 2041 mendatang.

- https://voi.id/ekonomi/521843/rosan-soal-tambahan-saham-12-persen-freeport-untuk-ri-sedang-proses

- https://voi.id/ekonomi/521843/rosan-soal-tambahan-saham-12-persen-freeport-untuk-ri-sedang-proses

- https://voi.id/ekonomi/521617/final-indonesia-dapat-penambahan-12-persen-saham-freeport

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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.

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.