Indonesia must receive 51 percent share in Freeport: President

Rote, E Nusa Tenggara (ANTARA News) - President Joko Widodo (Jokowi) affirmed that Indonesia should get a minimum share of 51 percent from PT. Freeport Indonesia that managed the mine in Papua.

"For the last 10 years, we only got a 9.3 percent share from the corporation. At the moment, I have ordered for Indonesia to get a 51 percent share," the president noted during a visit to Rote, the countrys southernmost island, on Tuesday.

Jokowi is on a visit to the island of Rote since Monday to open and attend a national coordination meeting of the Bara JP volunteers.

After an overnight stay at the island, the president and First Lady conducted several activities, including distributing land certificates and Indonesian Smart Cards, as well as reviewing the retention basin on the island.

Furthermore, the former governor of Jakarta stated that intense negotiations and discussions on the 51 percent share were held.

"The discussions have been very tough, but the important thing is to not let go," he added.

In August last year, he remarked that Energy and Mineral Resources Minister Ignatius Johan and Finance Minister Sri Mulyani along with CEO of Freeport McMoran Richard Adkerson had agreed to divest 51 percent of the shares for national ownership.

"However, details for that 51 percent share are still being discussed between the government and Freeport," he revealed.

He also touched on the Mahakam block in East Kalimantan that has been managed by foreign company PT. Total E and P Indonesie and Inpex Corporation for the last five decades.

"As of January 1, 100 percent of the Makaham Block is under our possession after decades of it being listed as a foreign property," he pointed out.

He also revealed that after fully becoming the property of Indonesia, management of the Mahakam Block has been directly handed over to Pertamina Hulu Mahakam, a subsidiary company of PT Pertamina.

Source: ANTARA News

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