Jakarta, IDN Times – Indonesia’s Minister of Energy and Mineral Resources (ESDM), Bahlil Lahadalia, has announced a significant potential development regarding the government’s investment in PT Freeport Indonesia. The government is currently exploring an opportunity to acquire an additional 10 percent stake in the prominent mining company.
Should this strategic acquisition materialize, Indonesia’s total ownership in PT Freeport Indonesia would escalate to a commanding 61 percent. This would build upon the existing 51 percent share the government presently holds in the enterprise.
Speaking at the Presidential Palace Complex in Jakarta on Monday, September 15, 2025, Bahlil provided insights into the ongoing high-level discussions. “We also discussed several developments related to the continuation of Freeport; I was called to be asked about the agreement,” Bahlil stated, highlighting the critical nature of the negotiations.
1. Potential to Acquire More Than 10 Percent of Freeport Shares 
Minister Bahlil further elaborated that the government might even secure a larger shareholding than the initially targeted 10 percent additional stake in Freeport. He characterized the ongoing negotiations as progressing positively, hinting at a potentially more substantial acquisition.
“Originally, we agreed on an additional 10 percent share in Freeport, but discussions have evolved, and God willing, it could be more than that. I have been asked to expedite communications, and if it becomes fixed, God willing, we will consider extending Freeport’s contract,” Bahlil explained, clearly linking the enhanced share acquisition to the future extension of Freeport’s operational contract.
2. Bahlil to Announce Acquisition Cost Soon 
Despite the promising nature of these developments, Bahlil remained discreet regarding the precise financial details of the Freeport shares the government intends to purchase. He assured the public that the specific cost would be disclosed in due course.
“The exact amount will be announced after the signing of the extension process,” he affirmed, indicating that transparency would follow the completion of formal procedures.
3. Bahlil Characterizes Price as “Very Cheap” 
Intriguingly, Bahlil described the potential acquisition price for the Freeport shares, especially for a stake exceeding 10 percent, as “very cheap.” He offered a strategic rationale for this favorable assessment, emphasizing the asset’s valuation.
“For more than 10 percent, the cost is very cheap. This is because we consider the asset’s valuation, its book value, to be very thin. However, this arrangement will continue until 2041,” he clarified, suggesting that the long-term operational period and current book value contribute significantly to the perceived affordability of the additional shares.
Summary
Indonesia is exploring the acquisition of an additional 10% stake in PT Freeport Indonesia, which would increase its total ownership to 61%. Minister of Energy and Mineral Resources, Bahlil Lahadalia, announced ongoing high-level discussions, noting the potential to secure even more than the initial 10% target. This move is linked to the possible extension of Freeport’s operational contract.
The exact financial details of the acquisition will be disclosed after the formal signing of the extension process. Bahlil described the potential acquisition price as “very cheap,” attributing this to the asset’s thin book value and the long-term operational period until 2041.