September 22, 2025 | 06:51 am
TEMPO.CO, Jakarta - PT Freeport Indonesia (PTFI) has responded to the Indonesian government's plan to increase its ownership stake in the mining company by more than 10%. The government already holds a majority stake of 51.23% through the state-owned holding company, MIND ID.
Katri Krisnati, Vice President of Corporate Communications at PT Freeport Indonesia, confirmed that discussions regarding the potential increase in government ownership are ongoing. "Regarding the divestment of PTFI shares, it is still under discussion," Katri told Tempo on Sunday, September 21, 2025.
Similarly, Minister of Investment and Industrial Estate Development, Rosan Perkasa Roeslani, stated that the process of acquiring more shares is awaiting instructions from President Prabowo Subianto.
Rosan, who is CEO of the Danantara Investment Managing Body for Nusantara Energy, mentioned that the government's target is to increase its ownership by an additional 12%, with the aim of completing the process soon. Notably, he also said that the government would not spend any funds on the acquisition. "Free of charge. Solid, right?" he said at the Presidential Palace complex in Jakarta on Tuesday, September 16, 2025.
On a separate note, Minister of Energy and Mineral Resources, Bahlil Lahadalia, added that he would soon meet with Freeport-McMoRan, PTFI's parent company, to discuss the share divestment. "I will soon meet with the management of Freeport McMoran," said Bahlil at the Ministry of Energy and Mineral Resources on Wednesday, September 17, 2025, as quoted by Antara.
Bahlil had previously reported to President Prabowo about the potential to acquire more than the initial target of 10% additional shares. He explained that these negotiations are part of the government’s efforts to extend the mining operation contract.
According to Bahlil, the valuation of the additional shares would be relatively inexpensive because the book value of Freeport's assets is considered to be "very thin." The chair of the Golkar Party noted, "For more than 10%, the cost is very inexpensive. Because the valuation of the assets is considered to be very thin. But this will last until 2041."
Eka Yudha Saputra contributed to the report
Editor’s Choice: Freeport Indonesia Mining Landslide: Two Workers Found Dead, 5 Remain Trapped
Click here to get the latest news updates from Tempo on Google News
Today's Top 3 News: Sixteen Activists Join Syahdan Husein in Hunger Strike at Jakarta Police Detention Center
1 hari lalu
Here is the list of the top 3 news on Tempo English today.
Freeport Indonesia Mining Landslide: Two Workers Found Dead, 5 Remain Trapped
1 hari lalu
Rescuers still search for five other PT Freeport Indonesia workers who have been trapped since Monday, September 8, 2025.
Indonesia Considers SOEs Ministry-Danantara Merger Amid Legislative Revisions
2 hari lalu
Indonesia's Minister of State Secretary stated that the merger of the Ministry of State-Owned Enterprises into BPI Danantara is still under review.
Indonesian Govt to Hold Talks with Freeport on Share Divestment
3 hari lalu
Indonesia currently holds the majority shares of Freeport (PTFI) through the government's ownership in PTFI via MIND ID at 51.23 percent.
Today's Top 3 News: France Braces for Mass Protests Tomorrow, What Are the Demands?
4 hari lalu
Here is the list of the top 3 news on Tempo English today.
Freeport Indonesia Halts Operations to Focus on Landslide Rescue Efforts
4 hari lalu
Seven PT Freeport workers have been trapped underground for over a week following a cave-in incident and have yet to be found.
Today's Top 3 News: Seven Workers Still Trapped in Freeport Indonesia Mine Landslide
5 hari lalu
Here is the list of the top 3 news on Tempo English today.
Danantara Still Assessing Merger Plans for Garuda Indonesia and Pelita Air
5 hari lalu
Rosan Roeslani, CEO of Danantara Indonesia, stated that Danantara is still considering the plan to merge Garuda Indonesia and Pelita Air.
Garuda Indonesia Says Pelita Air Merger Plan Still in Exploration Stage
5 hari lalu
Wamildan Tsani, the CEO of Garuda Indonesia, has addressed the plan of business consolidation or merger with the airline Pelita Air.
Freeport Indonesia's Grasberg Mine Output Plunges 70% After Landslide
6 hari lalu
The Ministry of Energy and Mineral Resources declared that the production of PT Freeport Indonesia has plunged due to a landslide in the underground mine.
