Overseeing Freeport Divestment

Under the heads of agreement with Freeport-McMoRan and Rio Tinto, Inalum will not immediately own the 51 percent stake in PTFI. This is an important point, so that the public does not become excessive euphoric that the majority stake in PTFI has come into Indonesian hands.

KOMPAS/DIDIE SW

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On July 12, 2018, PT Indonesia Asahan Aluminum (Inalum) signed a heads of agreement (HoA) with Freeport-McMoRan and Rio Tinto. The ministers of finance, energy and mineral resources, and state-owned enterprises witnessed the signing.

Under the agreement, Indonesia, through Inalum and a joint venture between Inalum and the Papua government, will acquire a 51 percent stake in PT Freeport Indonesia (PTFI).