President Jokowi Welcomes Discussion on Addition of Freeport’s Shares in Indonesia

President Jokowi Monday (11/13) receives Chairman of the Board and Chief Executive Officer of Freeport McMoRan Inc. Richard C. Adkerson at the Waldorf Astoria Hotel, Washington DC, the United States. (Photo by: BPMI of Presidential Secretariat)

In a meeting with Chairman of the Board and Chief Executive Officer of Freeport McMoRan Inc. Richard C. Adkerson, President Joko “Jokowi” Widodo welcomed the discussion on the addition of 10 percent of Freeport’s shares in Indonesia and the extension of its mining license that have reached the final stage.

“I’m pleased to hear that the discussion on the addition of 10 percent of Freeport’s shares in Indonesia and the extension of the mining license for 20 years have reached the final stage,” President Jokowi told Adkerson at the Waldorf Astoria Hotel, Washington DC, the United States, on Monday (11/13).

President Jokowi also stated that the process could be completed by the end of November this year.

“It is due at the end of this month,” he said.

In a separate statement after the meeting, ad interim Coordinating Minister for Maritime Affairs and Investment Erick Thohir pointed out that the current ties between Indonesia and the United States continue to improve, especially in the trading sector.

“If we look at it, our trade surplus with the United States has reached almost US$16 billion. And, the growth in recent years has been strong. The US investment in Indonesia is at number four now, which is unprecedented,” Erick said.

Therefore, Erick said that this was the basis for the President to keep pushing for US investment in Indonesia, one of which is Freeport McMoRan Inc.

“We, the SOEs, are already in control of the 51 percent,” he continued.

Erick further stated that the meeting also discussed the downstreaming activities carried out by Freeport. Currently, Freeport has started to develop smelters to process gold and copper, starting by operating a smelter in East Java province.

Erick also stated that during the meeting, Freeport also showed its commitment to build other smelters in other locations in the country, including in Fakfak regency, West Papua province.

“The discussion earlier indicated a very positive direction for us to continue to increase foreign investment to create jobs in Indonesia as envisioned by the President,” he said. (BPMI of Presidential Secretariat/UN) (FI/MUR)