President Joko Widodo (Jokowi) said that 70% of PT Freeport Indonesia's revenue had belonged to Indonesia. This happened after the government acquired 51 shares of the company through PT Indonesia Asahan Aluminum (Inalum). Jokowi said that in the past, Indonesia only owned 9% of Freeport shares with a dividend of 9%. "After taking over 51%, we get taxes, dividends, royalties, export duties, non-tax state revenues, I told you to calculate the amount, 70% of the income in Freeport," he said at the Investor Daily Summit, Tuesday (11/10).
Indonesia managed to acquire most of PTFI's shares at the end of 2018. This is a historic moment since PTFI first operated in Indonesia in 1973. Over the years, Indonesia has only narrowed PTFI's shares by 9.36%. The acquisition was made through PT Indonesia Asahan Aluminum (Inalum). Now, Indonesia has officially held 51.23% of PTFI's shares. Jokowi revealed that he received many scary stories before acquiring PTFI shares. One of them Papua will be separated from Indonesia. "In the past, when I wanted to take Freeport, the majority of the information I received was scary. Later, Papua will be shaken, Papua will be released," Jokowi said in 2021. Not only that, Jokowi also received a story that the United States (US) would be angry if Indonesia acquired PTFI. This even made his subordinates hesitate to take over most of PTFI's shares. Then, he proved that there were no crucial problems after RI succeeded in annexing PTFI shares. Moreover, the government actually did not spend a dime when it acquired the company. "Because it's been 41 years since Freeport has been there, and it turns out that there's nothing, even though we don't use money to buy Freeport, we don't buy Freeport, we don't use the state budget, nor do SOEs," explained Jokowi.
