Jokowi: Tricky Negotiation on Freeport Divestment Not Surprising

TEMPO.CO, Serang - President Joko Widodo or Jokowi called on all stakeholders to wait for the results of negotiation between the government and PT Freeport Indonesia in relation to the 51 percent of share divestment. Earlier, reports said that Freeport rejected the share divestment plan offered by the government.

“The process is still underway. State-Owned Enterprises Minister, Finance Minister, and Coordinating Maritime Affairs Minister will meet. It’s a negotiation, and it won’t be surprising if it’s not easy,” Jokowi said after inaugurating steam-fueled power plant projects in Serang, Banten, today, Oct. 5.

Read: Luhut Freeport`s Share Divestment Timing Being Discussed

Jokowi hopes that the negotiation will benefit both sides. The president said that he would not speculate on the results since the negotiation with the US-based giant mining company is still underway.

Coordinating Maritime Affairs Minister Luhut Binsar Pandjaitan earlier confirmed that the negotiation with Freeport was not related to shares, but the timing for the divestment realization.

Luhut added that the Indonesian government reserves the right to demand Freeport to divest 51 percent of its shares. By 2011, only 9.3 percent of the company’s shares had been claimed by the government.

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