{"id":149939,"date":"2018-12-21T14:30:05","date_gmt":"2018-12-21T07:30:05","guid":{"rendered":"https:\/\/setkab.go.id\/?p=149939"},"modified":"2018-12-26T14:33:15","modified_gmt":"2018-12-26T07:33:15","slug":"ownership-of-freeport-majority-shares-is-for-benefit-of-indonesians-president-jokowi","status":"publish","type":"post","link":"https:\/\/setkab.go.id\/en\/ownership-of-freeport-majority-shares-is-for-benefit-of-indonesians-president-jokowi\/","title":{"rendered":"Ownership of Freeport Majority Shares is for Benefit of Indonesians: President Jokowi"},"content":{"rendered":"<div id=\"attachment_149941\" style=\"width: 310px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/setkab.go.id\/wp-content\/uploads\/2018\/12\/22decA.jpg\" rel=\"attachment wp-att-149941\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-149941\" class=\"size-medium wp-image-149941\" src=\"https:\/\/setkab.go.id\/wp-content\/uploads\/2018\/12\/22decA-300x225.jpg\" alt=\"President Jokowi accompanied by a number of ministries and CEO of Freeport announces the finalization of Freeport Indonesia\u0092s divestment, at the Merdeka Palace, Jakarta, Friday (21\/12). (Photo by: IST)\" width=\"300\" height=\"225\" srcset=\"https:\/\/setkab.go.id\/wp-content\/uploads\/2018\/12\/22decA.jpg 300w, https:\/\/setkab.go.id\/wp-content\/uploads\/2018\/12\/22decA-150x113.jpg 150w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-149941\" class=\"wp-caption-text\">President Jokowi accompanied by a number of ministries and CEO of Freeport announces the finalization of Freeport Indonesia\u0092s divestment, at the Merdeka Palace, Jakarta, Friday (21\/12). (Photo by: IST)<\/p><\/div>\n<p>President Joko \u0093Jokowi\u0094 Widodo announced on Friday that the Government of Indonesia, through state-owned mining holding company PT Inalum, now holds 51.2 percent of share of mining company PT Freeport Indonesia and the payment for share divestment is already completed.<\/p>\n<p>\u0093Today is a historical moment since Freeport began operating in Indonesia in 1973,\u0094 President Jokowi said in a press statement at the Merdeka Palace, Jakarta, Friday (21\/12).<!--more--><\/p>\n<p>The President went on to say that the majority ownership would be entirely for the benefit of Indonesian people. By owning 51 percent of share, President Jokowi expressed belief that Indonesia\u0092s income in tax, and royalties will be bigger and better.<\/p>\n<p>The Head of State also said that smelter development and solutions to environmental issues have been settled. He added that everything has been completed and now all that is left is the work.<\/p>\n<p>Regarding share for regional government of Papua, President Jokowi explained that 10 percent ownership of Freeport Indonesia shares would go to Papua\u0092s people.<\/p>\n<p>For the record, PT Inalum bought some of Freeport McMoRan Inc. (FCX) shares and Rio Tinto participating interest with the closure of a US$3.85 billion deal, increasing Inalum\u0092s ownership from 9.36 percent to 51.23 percent.<\/p>\n<p>\u0093The ownership of 51.23 percent consists of 41.23 percent of Inalum share and 10 percent of regional government of Papua\u0092s share. Share of regional government of Papua will be managed by Papuan metal and mineral company PT Indonesia Papua Metal dan Mineral (IPPM) in which its shares are owned by PT Inalum (60 percent), and Papuan provincial administration-owned enterprises (40 percent),\u0094 press release of Ministry of Energy and Mineral Resources on Friday (21\/12) reads. <strong>(*\/ANT\/ES)<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>Translated by : Rany Anjany Subachrum<br \/>\nEdited by : M. Ersan Pamungkas<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joko \u0093Jokowi\u0094 Widodo announced on Friday that the Government of Indonesia, through state-owned mining holding company PT Inalum, now holds 51.2 percent of share of mining company PT Freeport Indonesia and the payment for share divestment is already completed. \u0093Today is a historical moment since Freeport began operating in Indonesia in 1973,\u0094 President Jokowi [&hellip;]<\/p>\n","protected":false},"author":43,"featured_media":149941,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[77],"tags":[],"class_list":["post-149939","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v26.1.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ownership of Freeport Majority Shares is for Benefit of Indonesians: President Jokowi - Sekretariat Kabinet Republik Indonesia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/setkab.go.id\/en\/ownership-of-freeport-majority-shares-is-for-benefit-of-indonesians-president-jokowi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ownership of Freeport Majority Shares is for Benefit of Indonesians: President Jokowi - Sekretariat Kabinet Republik Indonesia\" \/>\n<meta property=\"og:description\" content=\"President Joko \u0093Jokowi\u0094 Widodo announced on Friday that the Government of Indonesia, through state-owned mining holding company PT Inalum, now holds 51.2 percent of share of mining company PT Freeport Indonesia and the payment for share divestment is already completed. \u0093Today is a historical moment since Freeport began operating in Indonesia in 1973,\u0094 President Jokowi [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/setkab.go.id\/en\/ownership-of-freeport-majority-shares-is-for-benefit-of-indonesians-president-jokowi\/\" \/>\n<meta property=\"og:site_name\" content=\"Sekretariat Kabinet Republik Indonesia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/id-id.facebook.com\/Setkabgoid\" \/>\n<meta property=\"article:published_time\" content=\"2018-12-21T07:30:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-12-26T07:33:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/setkab.go.id\/wp-content\/uploads\/2018\/12\/22decA.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"225\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Office of Assistant to Deputy Cabinet Secretary for State Documents &amp; 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