The Minister Of Energy And Mineral Resources Is Preparing Stock Add Regulations At Freeport To Be 61 Percent

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

JAKARTA - Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif said regulations regarding the addition of Government share ownership in PT Freeport Indonesia (PTFI) were being prepared. Where, from 51 percent to 61 percent.

"Yes, we are still waiting, so hopefully it will be fast," said Arifin quoting Antara.

Regarding the addition of these shares, it is necessary to revise the Revision of Government Regulation (PP) Number 96 of 2021 concerning the Implementation of Mineral and Coal Mining Business Activities.

When asked if the regulation could be issued this month, Arifin also hoped so.

"Hopefully," he said briefly.

Meanwhile, regarding President Joko Widodo (Jokowi)'s statement targeting the 61 percent share ownership negotiations to be completed by June 2024, Arifin also targets completion by that month.

"Yes, it must be June," said Arifin.

In addition, he also revealed that the government would no longer issue funds in the process of adding the shares.

"The government does not spend any more money," he also said.

After attending the Opening of the 12th Congress of Hikmah Budhi in Jakarta, President Jokowi believes that 61 percent of share ownership can be realized after negotiations with PT Freeport Indonesia reached a common ground.

In addition, the Government is also finalizing the Revision of Government Regulation (PP) Number 96 of 2021 concerning the Implementation of Mineral and Coal Mining Business Activities.

"It is still in the negotiation process and also the preparation of regulations. But I believe we can get the figure (61 percent)," said President Jokowi as well.

Previously, President Jokowi received a visit from Freeport Chairman McMoRan Richard Adkerson, Freeport President McMoRante Quirk, and PTFI President Director Tony Wenas, at the Presidential Palace, Jakarta, Thursday afternoon.

When confirmed that the meeting discussed the extension of PTFI's mining permit, Tony admitted that this had previously been discussed in Washington DC, USA, in November 2023.

"Yes, Washington DC has also been discussed," said Tony.

On November 13, 2023, President Jokowi received Freeport Chairman McMoRan Richard Adkerson on the sidelines of a visit in Washington DC.

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," President Jokowi told Richard Adkerson at the time.