FCX · 10-Q · 2026Q2 · Full report
Indonesia Mining Rights Extension
FREEPORT-MCMORAN INC · 2026-08-06 · Importance 44 · Surprise 60 · In source text
In February 2026, Freeport-McMoRan and PTFI entered into a memorandum of understanding with the Indonesia government to extend Grasberg operating rights beyond their current 2041 expiration. Under the proposed terms, Freeport-McMoRan would retain its 48.76% PTFI ownership through 2041 and hold approximately 37% beginning in 2042, while the existing governance, operating structure and key agreements would continue. PTFI submitted its application for an amended special mining business license (IUPK) in June 2026. The extension remains subject to government issuance of the amended IUPK and definitive agreements.
Key facts
- Under the MOU, we would maintain our current ownership interest in PTFI of 48.76% through 2041 and hold approximately 37% beginning in 2042. source
- In February 2026, we and PTFI entered into a Memorandum of Understanding with the Indonesia government for a life of resource extension of operating rights beyond the current expiration in 2041. source
- In June 2026, PTFI submitted its application for extension of its IUPK. source
- We have a 48.76% ownership interest in PTFI and manage its operations. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| assets | negative | probable | — | Under the MOU, we would maintain our current ownership interest in PTFI of 48.76% through 2041 and hold approximately 37% beginning in 2042. |
| operating_income | positive | probable | — | In February 2026, we and PTFI entered into a Memorandum of Understanding with the Indonesia government for a life of resource extension of… |
| operating_income | positive | probable | — | In June 2026, PTFI submitted its application for extension of its IUPK. |