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Indonesia, Freeport Reach Agreement on 51% Divestment

 

The Indonesian government and the United States mining company Freeport McMoran have agreed four issues after months of negotiations. During a press conference on Tuesday, August 29th, 2017 Indonesia's Energy and Mineral Resources Minister Ignasius Jonan was said we started the process early this year and we intensified the process three or four months ago. Freeport will divest a 51 percent stake in its Indonesian unit to local parties in the near future. In exchange, it will receive an extension on its permit to operate copper and gold mines until 2041. The mining company will guarantee a significant increase of state revenue. Moreover,it will construct a news melter.


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