{
    "success": true,
    "data": {
        "id": 1565561,
        "msgid": "freeport-investment-extended-for-20-years-valued-at-us-20-billion-1771685407",
        "date": "2026-02-21 00:25:15",
        "title": "Freeport Investment Extended for 20 Years, Valued at US$20 Billion",
        "author": " ",
        "source": "GALERT",
        "tags": "",
        "topic": "Mining",
        "summary": "Indonesia and Freeport-McMoRan have signed a memorandum of understanding to extend the company's special mining licence at Grasberg, Papua, for the period 2041\u20132061, with a committed investment of US$20 billion. The deal, announced in Washington D.C.",
        "content": "<p>The Indonesian government and Freeport-McMoRan (FCX) have signed a\nMemorandum of Understanding (MoU) concerning the extension of the\nSpecial Mining Business Licence (IUPK) at Grasberg, Central Papua.<\/p>\n<p>The extension with the US-based mining company covers the period\n2041\u20132061.<\/p>\n<p>The announcement was made by Minister of Investment and\nDownstreaming\/Head of the Investment Coordinating Board (BKPM), Rosan\nRoeslani, during a virtual press conference in Washington D.C. on Friday\n(20 February).<\/p>\n<p>Rosan stated that the investment value under the extension amounts to\nUS$20 billion over the next 20 years.<\/p>\n<p>\u201cIn this regard, we are acting on the mandate given to us so that\nFreeport can increase its investment over approximately the next 20\nyears to a value of US$20 billion. This will also deliver positive\nimpacts, both in terms of tax revenue and other benefits,\u201d he said.<\/p>\n<p>He added that the agreement would be promptly followed up to be\nfinalised into a definitive agreement in the near future.<\/p>\n<p>Meanwhile, Coordinating Minister for Economic Affairs Airlangga\nHartarto stated that the MoU forms part of a broader Indonesia-US\nagreement to deepen cooperation on critical mineral access.<\/p>\n<p>\u201cIn addition, there is also the development of critical minerals, in\nthis case the extension of the Freeport-McMoRan contract from 2041 to\n2061,\u201d he said.<\/p>\n<p>According to a fact sheet released by the White House, the agreement\nis projected to generate annual revenue of US$10 billion and strengthen\nthe US critical mineral supply chain.<\/p>\n<p>The licence extension forms part of the ongoing tariff negotiation\ndynamics between Indonesia and the United States.<\/p>\n<p>Under the broader arrangement, Indonesia has agreed to commit to\npurchasing US energy commodities worth approximately US$15 billion,\nprocuring Boeing commercial aircraft valued at approximately US$13.5\nbillion, and purchasing US agricultural products worth more than US$4.5\nbillion.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/freeport-investment-extended-for-20-years-valued-at-us-20-billion-1771685407",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}