What are the assets of PT Freeport Indonesia?

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09/08/2018 15:50 WIB

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PTFI's assets as of December 2017 reached US$10.66 billion, or approximately Rp153.53 trillion, a 1.19% increase from the previous year.

PT Freeport Indonesia's Financial Performance (2016-2017)

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PT Freeport Indonesia's Financial Performance (2016-2017)

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Indonesia Asahan Aluminium (Inalum), a state-owned enterprise, Freeport McMoRan Inc (FCX), and Rio Tinto signed a Heads of Agreement (HOA) in mid-July 2018 regarding the divestment of shares in PT Freeport Indonesia (PTFI). Upon completion, Inalum's stake in PTFI will increase from 9.36% to 51%.

According to published financial reports, PTFI's assets reached US$10.66 billion (approximately Rp 153.53 trillion) as of December 2017, a 1.19% increase year-on-year. Revenue for the year grew by 34.93% to US$4.45 billion (Rp 64 trillion), while net profit surged by 117.63% to US$1.29 billion (Rp 18.59 trillion) compared to 2016.

To become the controlling shareholder, Inalum will need to invest US$3.85 billion (equivalent to Rp 55.4 trillion). This amount will be used to purchase Rio Tinto's stake in PTFI and acquire 100% of FCX's shares in PT Indocopper Investama. The transaction is scheduled for completion before the end of the year.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."