Freeport submits draft for 12% divestment in IUPK extension
The 12% share transfer to the government must be signed before a new IUPK is issued in 2041.
PT Freeport Indonesia has submitted a draft agreement on the divestment of 12% of its shares to the government as a condition for extending its Special Mining Business Permit, or IUPK. PTFI President Director Tony Wenas said the draft has been submitted and is now being processed. The transfer concerns Freeport-McMoRan Inc.'s ownership in PTFI and must be signed before the new IUPK is issued in 2041. The requirement is included in the memorandum of understanding on the extension of the Grasberg mine IUPK in Papua Tengah. The MoU was signed at the U.S. Chamber of Commerce building in Washington DC by Rosan Perkasa Roeslani, Kathleen Quirk, and Tony Wenas. Beyond divestment, the agreement also covers support for communities in Papua, increased exploration, and continued downstream processing in Indonesia.