Investment and Downstream Minister Rosan Perkasa Roeslani said negotiations have reached a key milestone, with both sides agreeing in principle. The final phase now involves reviewing the detailed terms of the agreement.
“God willing, very soon. All key points have been agreed upon. Now we’re just finalizing the details,” Rosan said at the Investor Daily Summit 2025 in Jakarta.
The additional shares would raise Indonesia’s ownership in Freeport Indonesia from 51 percent to 63 percent.
Rosan said operational standards at the mine would continue to meet global safety and mining benchmarks under the new ownership structure.
“We will ensure safety and world-class mining practices remain in place,” he said.
However, Freeport officials indicated the divestment process is not yet complete. PT Freeport Indonesia President Director Tony Wenas said no final decision has been made as the agreement has not been signed.
Related news: Deal for higher govt stake in Freeport near completion, minister says
“I can only say it’s final when the documents are signed,” Wenas said, declining to comment on details of the 12-percent divestment, including speculation that some shares may be handed over free of charge.
“I can’t provide any statements yet. Discussions were just recently concluded,” he added.
Energy and Mineral Resources Minister Bahlil Lahadalia previously stated the 12-percent divestment deal was already final.
The share divestment is a key condition for extending Freeport Indonesia’s special mining permit (IUPK), which is set to expire in 2041.
Under Government Regulation No. 25 of 2024, mining companies are required to divest at least 10 percent of their shares to a state-owned enterprise as new, non-dilutive shares to qualify for a permit extension.
With the added stake, Indonesia will strengthen its control over one of the world’s largest copper and gold mines.
Related news: Discussions on increasing RI shares in Freeport to take time
Translator: Bayu S, Tegar Nurfitra
Editor: Rahmad Nasution
Copyright © ANTARA 2025
