New Chapter of Freeport Contract

The government has officially announced plan to extend the Freeport contract for an additional 20 years, until 2061.

Fatkhul Maskur

30 Mar 2024 - 14.42
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New Chapter of Freeport Contract

Freeport mining site.

Bisnis, JAKARTA — The government has officially announced plan to extend the Freeport contract for an additional 20 years, until 2061. This extension is contingent upon the government acquiring an additional 10% of Freeport's shares, without necessitating new investments.

In addition to the requirement for acquiring an additional 10% stake, Freeport has been mandated to construct a new smelter in Fakfak, West Papua. This initiative aims to facilitate the downstreaming of copper minerals, thereby enhancing the national economy's value-added potential.

These key agreements were reached following discussions between President Joko “Jokowi” Widodo and Richard C. Adkerson, Chairman & CEO of Freeport McMoran Inc, during their meeting in the United States in November last year.

To discuss the extension of the mining permit, Adkerson held another meeting with President Jokowi at the State Palace in Jakarta on Thursday (28/3). Accompanying Adkerson were Kathleen Quirk, President of Freeport McMoran, and Tony Wenas, President Director of PT Freeport Indonesia.

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Editor: Emanuel Berkah Caesario
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New Chapter of Freeport Contract

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