Inp.polri.go.id - Jakarta. Indonesia secured a landmark deal with U.S. mining giant Freeport-McMoRan, which agreed to divest 12 percent of its shares to the country at no cost, according to Danantara Indonesia CEO Rosan Roeslani.

“They have agreed to release 12 percent, free of charge,” he told reporters Tuesday (30/9/2025) at the Ministry of Investment and Downstreaming in Jakarta, as reported by antaranews.com 

He said the agreement was reached after direct talks with Freeport Chairman Richard Adkerson and CEO Kathleen Quirk during his visit to the United States.

Originally, Indonesia was targeting a 10 percent stake, but negotiations yielded a greater portion. The deal also includes Freeport’s commitment to build two universities and two hospitals in Papua, where its mining operations are based.

The divestment is a key requirement for Freeport to extend its special mining business license beyond 2041. With the additional shares, the government’s stake in PT Freeport Indonesia will rise from 51 percent to 63 percent in 2041.

(mg/inp/pr/rs)