Jakarta, IO – President Joko “Jokowi” Widodo said the Indonesian government is looking for a legal instrument to seek a further 10 percent divestment of PT Freeport Indonesia’s shares from Freeport-McMoRan to be completed no later than June. This will allow the government to control a total of 61 percent shares.
Jokowi said the negotiation is still ongoing. However, he is confident that it can be completed soon and finalized in a regulation, per Katadata, Mon (1/4).
“We are still in the process of negotiating and preparing the regulations. But I am sure we can get to that as soon as possible. Probably no later than June,” he said.
Nevertheless, Jokowi admitted that negotiations between the government and Freeport-McMoRan tended to be complicated.
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“The negotiation has been going on for quite a while,” he said.
Currently, the Indonesian government controls 51.2 percent of stakes in PT Freeport Indonesia, held by PT Mineral Industri Indonesia/MIND ID (26.24 percent) and PT Indonesia Papua Metal and Mineral (25 percent). (bp)