Government Extends Freeport Permit Until 2061, Minister Of Energy And Mineral Resources: It's Been Decades Of Termination

Minister of Energy and Mineral Resources Arifin Tasrif. (Photo: Doc. ANTARA)

JAKARTA - Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif confirmed that the extension of the Special Mining Business License (IUPK) of PT Freeport Indonesia (PTFI) was extended to 2061. It is known that the PTFI contract expires in 2041.

"Freeport is 2061 later, because he has been in the requirements for decades, there are reserve times when we want to break up, look for more," said Arifin to the media at the Ministry of Energy and Mineral Resources Building, Friday, November 17.

To extend the IUPK, Freeport is required to release 10 percent of its shares and is required to build a smelter in the Fakfak industrial area.

Thus, after 2041, Freeport's largest stake was narrowed by MIND ID's state-owned mining holding.

Despite holding the largest share portion, continued Arifin, technical matters such as drilling are still held by Freeport.

Moreover, PTFI's current mining focus is underground mining.

"After 2041, the majority of Indonesia is held. The operatorship is still MIND ID, but it's management. But for mining techniques, we still need to be good at drilling," he said.

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

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