Indonesian Shares In Freeport Will Increase 12 Percent In October

Deputy Chairman of Commission VI of the Indonesian House of Representatives (DPR) Andre Rosiade. (Photo: ANTARA)

JAKARTA - Deputy Chairman of Commission VI of the Indonesian House of Representatives (DPR) Andre Rosiade gave a leak regarding the continuation of the divestment of PT Freeport Indonesia's additional shares to Indonesia through the red plate mining holding, MIND ID.

Andre said Indonesia would increase the number of share ownership in PTFI by 10 to 12 percent in October.

"I want to inform you that this October, 2025, according to President Prabowo's orders to Danantara, God willing, we will get an additional 10-12 percent of Freeport's shares," Andre said at the Commission VI Hearing Meeting, quoted Tuesday, September 30.

He added that currently Indonesia has narrowed 51 percent of shares. With this addition, Indonesia's portion of ownership of PTFI can reach 61 to 63 percent.

With this addition of shares, Andre assessed that the President Director of PTFI, Tony Wenas, was obliged to attend the invitation to a meeting with the DPR RI.

"It means that there is no reason that the President Director of Freeport does not come to the RDP Commission VI or other meetings in other commissions in the DPR RI. Because it is clear, the ownership of shares is clearly the government of the Republic of Indonesia," continued Andre.

Previously, the Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia revealed that the government was still negotiating with the Mc-MoRan report.

Meanwhile, the development of this divestment has been reported to President Prabowo Subianto and received directions for additional shares of more than 10 percent.

Bahlil also estimates that this process is expected to be completed in October considering the negotiation process and meeting with Freeport in the same month.

"And this is so that what? So that exploration can be carried out. Now these stages are what we are doing now. Now when they are finished, I plan maybe early in October, then we will hold a final meeting with Freeport," said Bahlil, Friday, September 26.

Bahlil ensured that part of the additional divestment of shares 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," said Bahlil.