Indonesia's Stake in Freeport to Rise to 63% by 2041

Jakarta, CNBC Indonesia - PT Freeport Indonesia (PTFI) has received confirmation of the extension of its special mining business permit (IUPK) through to 2041. Energy and Mineral Resources Minister Bahlil Lahadalia said the agreement was the result of intensive communication and negotiations over the past two years between the Indonesian government, state mining holding company MIND ID, and Freeport-McMoRan Copper & Gold Inc.

As part of the deal, Indonesia’s shareholding in Freeport Indonesia is set to rise to 63% by 2041.