October 8, 2025 | 03:32 pm
TEMPO.CO, Jakarta - Chief Executive Officer of the Indonesian Nusantara Anagata Investment Management Agency (Danantara Indonesia) Rosan Roeslani has stated that negotiations for the divestment of shares with PT Freeport Indonesia (PTFI) have reached an agreement. Rosan also mentioned that the agreement with Freeport will soon be signed.
As a result of the negotiations, according to Rosan, the country will acquire an additional 12 percent of shares free of charge. "Now, we just need to see the draft of the details. In principle, however, the agreement has been reached," Rosan told the media at the Investor Daily Summit 2025 on Wednesday, October 8, 2025, at the Jakarta Convention Center.
Rosan did not explain why Freeport is willing to release shares free of charge. He only claimed that it was part of the negotiations. However, he emphasized that these negotiations are not related to the force majeure situation that occurred at PTFI. This is because the negotiations have been ongoing for more than six months.
According to the Minister of Downstream Industry and Investments, the government will ensure higher mining safety and quality standards from PTFI with the finalization of the share divestment agreement.
Meanwhile, Tony Wenas, the president director of PT Freeport Indonesia, stated that the company cannot comment further on the share divestment because the signing process has not yet taken place. Wenas is reluctant to confirm whether the released shares amount to 12 percent and are free of charge, as the government has claimed.
He said that the company cannot comment further because the evacuation of workers affected by the Grasberg Block Cave landslide has just been completed.
"If we were still in discussions, then we could comment. If it is said to be final, agreed upon, and signed, then it can be considered final," Tony told reporters at the Jakarta Convention Center on Wednesday, October 8, 2025. Regarding the contract extension, Tony mentioned that it is still being discussed with the government.
The Minister of Energy and Mineral Resources, Bahlil Lahadalia, previously stated that negotiations for a 12 percent divestment of Freeport's shares to Indonesia had been finalized. "I have declared the additional Freeport negotiations final. An additional 12 percent has been added," Bahlil said when he was met in Jakarta on Tuesday, October 7, 2025, as quoted by Antara.
One of the requirements for Freeport to extend its Special Mining Business License (IUPK) for production operations, which is scheduled to expire in 2041, is divestment. This stipulation is outlined in Government Regulation (PP) Number 25 of 2024 regarding the implementation of mineral and coal mining business activities.
Article 1, Paragraph 195B of the PP states that a Production Operation IUPK can be granted an extension if certain criteria are met, including entering into an agreement to sell new shares, which cannot be diluted, amounting to at least 10 percent of the total share ownership, to a State-Owned Enterprise (BUMN).
As a result of completing the Freeport divestment negotiations, the government's share of PT Freeport Indonesia (PTFI) will increase from 51 percent to 63 percent. "We will see the details later. For now, the existing mine will remain operational until 2041. The dates are currently under discussion," said Bahlil.
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