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View all search resultsdivestment
Business 7 years ago
Indonesia officially controls 51.23 percent of Freeport shares: Jokowi
President Joko “Jokowi” Widodo announced on Friday that Indonesia became the majority owner of PT Freeport Indonesia (PTFI) after increasing its share ownership from 9.36 percent to 51.23 percent through a US$3.85 billion deal.
Business 7 years ago
Freeport gets another monthly permit extension
The government has issued another temporary permit extension for gold and copper miner PT Freeport Indonesia as the divestment process of shares from Freeport-McMoran (FCX) to state-owned mining holding company PT Indonesia Asahan Aluminium (Inalum) is still incomplete.
Business 7 years ago
Freeport divestment to be completed by end of this year: Jokowi
President Joko “Jokowi” Widodo has expressed optimism that the transfer of the 51.23 percent stake in gold and copper miner PT Freeport Indonesia’s (PTFI) to state-owned mining holding company PT Indonesia Asahan Aluminium (Inalum) can be completed by the end of the year.
Business 7 years ago
Freeport shifts focus to smelter construction after reaching divestment deal
After reaching a divestment deal on Thursday, gold and copper miner PT Freeport Indonesia (PTFI) will now focus on a smelter construction plan, which is required for the company to obtain the special mining permit (IUPK) that is needed to operate the Grasberg gold and copper mine in Papua.
Business 7 years ago
Inalum to issue global bonds
State mining holding company Indonesia Asahan Aluminium (Inalum) plans to issue global bonds whose proceeds will be used to pay for a loan to finance the purchase of majority ownership in Freeport Indonesia (PTFI), the operator of the world’s second-largest copper mine in Papua.
Business 7 years ago
Purchase agreement for Freeport shares to be inked in August: Inalum
State-owned mining holding PT Indonesia Asahan Aluminium (Inalum) expects to sign an agreement with US-based mining company Freeport-McMoran (FCX) to acquire a controlling stake in PT Freeport Indonesia (PTFI) in August.
Business 7 years ago
Grasberg’s large copper reserves promise large profits: Minister
Energy and Mineral Resources Minister Ignasius Jonan has said the enormous copper reserves in the Grasberg Mine in Papau will deliver large profits for Indonesia, after the country signed an agreement to gain control of the majority share of gold and copper miner PT Freeport Indonesia (PTFI).
