Freeport Submits Draft Agreement for 12 Percent Stake Divestment to Indonesian Government

PT Freeport Indonesia (PTFI) President Director Tony Wenas has stated that the company has submitted a draft agreement for the divestment of a 12 percent stake to the government. This serves as a requirement for the extension of its Special Mining Business Permit (IUPK).

“We have submitted the draft to the government,” Tony said after a memorandum of understanding signing event in Jakarta on Wednesday evening (17/6/2026) Western Indonesia Time.

Tony explained that the share transfer agreement must be signed before the issuance of the IUPK extension in 2041. The transfer of a 12 percent stake in PTFI from Freeport-McMoRan Inc. (FCX) to the government is stipulated in the Memorandum of Understanding (MoU) regarding the IUPK extension for the Grasberg mine in Central Papua.

Thus, Tony noted, the draft share divestment agreement is a follow-up to the MoU on PTFI’s IUPK extension in Grasberg, Central Papua. “One of the conditions for the issuance of the IUPK is the signing of the transfer of shares before 2041 (the IUPK issuance). Currently, it has not been signed; it is still in process,” Tony said.

The MoU on the extension of PTFI’s IUPK was signed by Minister of Investment and Downstreaming/Head of BKPM Rosan Perkasa Roeslani, President & CEO of Freeport-McMoRan Kathleen Quirk, and President Director of PT Freeport Indonesia Tony Wenas at the U.S. Chamber of Commerce building in Washington DC, United States, on Wednesday (18/2/2026).