President Confirms Inalum Ownership Over Freeport McMoran
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21 December 2018 19:49 WIB
TEMPO.CO, Jakarta - President Joko "Jokowi" Widodo announced that the state-owned mining company PT Indonesia Asahan Aluminium (Inalum) had officially completed the Freeport-McMoran divestment deal.
"I just received the report from the state ministers involved, Inalum president director, and CEO of Freeport-McMoran. The report states that Freeport's 51.2 percent shares has been paid and is now owned by PT Inalum," said President Jokowi in a press conference held at the Presidential Palace on Friday, December 21, 2018.
According to Jokowi, this marks a historical moment in the country's history since Freeport first operated in Indonesia back in 1973. The divestment reportedly cost Inalum USD 3.85 billion, after the company had generated a fresh USD 4 billion from issuing global bonds.
Jokowi said that the divestment will surely generate a larger income that can be channelled to improve the people's welfare. "I think that this has been worth the wait," Jokowi said.
During the major announcement, President Jokowi was accompanied by Finance Minister Sri Mulyani, Energy and Mineral Resources Minister Ignasius Jonan, State-Owned Enterprises Minister Rini Soemarno, Forestry and Environment Minister Siti Nurbaya, PT Inalum President Director Budi Gunawan Sadikin, and Freeport-McMoran’s CEO Richard Adkerson.
FRISKI RIANA
