Divestiture Complete, Inalum Controls 41% of PT Freeport Indonesia

Indonesia Asahan Aluminium (Inalum) has finally completed the US$3.85 billion payment for the divestment of shares in Freeport Indonesia (PTFI). This payment makes Indonesia the official majority shareholder of PTFI. Freeport Indonesia is one of the world's largest nickel and gold mining companies. The completion of the payment has changed the composition of PTFI's shareholders. PT Indonesia Asahan Aluminium (Inalum) now owns 26.2% of PTFI's shares, PT Indocopper Investama (PTII) owns 25%, and Freeport McMoRan (FCX) owns 48.8%.

In addition to being a direct shareholder, Inalum also indirectly holds a 15% stake in PTFI through PTII. Therefore, Inalum controls a total of 41.2% of PTFI's shares. This is because Inalum holds 60% of the shares in a joint venture with the Papua Provincial Government, namely a Papua Regional-Owned Enterprise (BUMD) which holds 25% of PTII's shares.

Meanwhile, Mimika Regency Government holds 7% of PTFI's shares and the Papua Provincial Government holds 3%. This ownership stems from the Papua BUMD, which holds 40% of PTII's shares. The shareholders of the Papua BUMD are the Mimika Regency Government (70% of shares) and the Papua Provincial Government (30% of shares).