Jokowi: Indonesia Must Own 51 Percent of Freeport`s Shares

President Joko Widodo or Jokowi underlined that Indonesia must own at least 51 percent of the shares in Freeport Indonesia. For the past decade, Indonesia only owned 9.3 percent of the shares.

“I have currently ordered Indonesia to obtain 51 percent of the shares,” said Jokowi during his visit to one of Indonesia’s outer islands Rote Island on Tuesday, January 9.

Jokowi has stayed at Rote Island since Monday, January 8. He is scheduled to attend and open the national coordination meeting of Bara JP volunteers.

According to him, the Energy and Mineral Resources (ESDM) Minister Ignasius Jonan and Finance Minister Sri Mulyani together with CEO of Freeport Indonesia Richard Adkerson agreed to conduct a 51 percent divestment on Freeport Indonesia.

“The details regarding the 51 percent shares are being negotiated between the Indonesian government and Freeport,” said Jokowi.

He also mentioned the Mahakam Block in East Kalimantan that has been managed by foreign corporations, Total E & P Indonesia and Inpex Corporation. “As per January 1, the Mahakam Block is 100 percent managed by us after it has been managed by foreigners for decades,” said Jokowi

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