Indonesia's Increasing Share in Freeport an Ongoing Process: Jokowi

TEMPO.CO, Jakarta - President Joko “Jokowi” Widodo stated that the government is planning to increase the number of government shares in Freeport Indonesia from the initial 51 percent. 

"This is still in the ongoing discussion process. The point is we ask for an additional percentage, not at 51, but there is an additional percentage," said Jokowi in Gresik, East Java, on June 20.

Jokowi claims the divestment progress of PT Freeport Indonesia is still an ongoing process. However, he did not elaborate on the exact amount of government shares that would increase.

"It's almost finished. What's clear is that it's not smaller, but bigger. That's all," Jokowi said.

According to previous reports, the Indonesian government requested an additional 10 percent ownership stake as a condition for Freeport Indonesia's contract extension.  Maritime Affairs and Investment Coordinating Minister Luhut Binsar Pandjaitan and Freeport Indonesia boss Tony Wenas spoke about this matter.

However, Luhut did not give a clear answer regarding the request for an additional 10 percent stake in the mining firm and only confirmed that it is being negotiated. 

On the other hand, Freeport Indonesia president director Tony Wenas said that he would adhere to government directives despite not mentioning the exact percentage of shares that are being negotiated. 

M JULNIS FIRMANSYAH I AMELIA RAHIMA SARI

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