The Indonesian government is set to significantly increase its ownership stake in PT Freeport Indonesia, moving beyond its previous target. Rosan Perkasa Roeslani, the Investment and Downstreaming Minister, announced an ambitious plan to acquire an additional 12 percent of shares, an increase from the earlier goal of 10 percent.
“Free of charge, isn’t that excellent? If it was 10 before, with me it’s 12,” Rosan stated confidently at the Presidential Palace Complex in Jakarta on Tuesday. This declaration underscores the government’s strategic move to further solidify its control over the mining giant without incurring direct costs for the additional shares.
While the minister refrained from disclosing the intricate details concerning the final agreement for these additional Freeport shares, he assured the public that an official announcement is imminent. This crucial information will be released promptly once guidance and directives are received from President Prabowo Subianto, indicating the high-level coordination involved in this significant transaction.
Currently, the Indonesian government proudly holds a 51 percent majority stake in PT Freeport Indonesia, positioning it as the principal shareholder. Should this new plan materialize, the nation’s ownership percentage is projected to rise to an impressive 61 percent. This substantial increase would grant Indonesia even greater control and influence over the operations and strategic direction of one of the world’s largest gold and copper mines.
This initiative builds upon earlier discussions, as Energy and Mineral Resources Minister Bahlil Lahadalia previously indicated the government’s intention to secure more than 10 percent additional Freeport shares. Rosan’s announcement therefore marks a pivotal moment, signaling a heightened commitment and an upward revision of the government’s target in its ongoing efforts to maximize national benefit from this vital asset.
Summary
The Indonesian government, through Investment and Downstreaming Minister Rosan Perkasa Roeslani, aims to acquire an additional 12 percent share in PT Freeport Indonesia. This new target exceeds the previously discussed 10 percent and will be obtained free of charge for the state. An official announcement regarding the final agreement is expected soon, following directives from President Prabowo Subianto.
Currently, the Indonesian government holds a 51 percent majority stake in PT Freeport Indonesia. If this plan materializes, the nation’s total ownership will increase significantly to 61 percent. This move is intended to further solidify Indonesia’s control and influence over the operations of this major gold and copper mine.