JAKARTA, Feb 19 (Reuters) - Indonesia's investment minister and miners Freeport-McMoran and its Indonesia unit Freeport Indonesia have signed a memorandum of understanding to extend Freeport Indonesia's mining permit beyond 2041, Freeport-McMoran chairman Richard Adkerson said.
Adkerson was speaking at a U.S. Chamber of Commerce event in Washington on Wednesday evening that was attended by Indonesian President Prabowo Subianto.
- Prabowo has travelled to Washington for a meeting of U.S. President Donald Trump's Board of Peace, and to seek a lower tariff rate in a trade deal with the United States.
- "We would like the best of relationships with the United States in all spheres - politically, economically," Prabowo said in a speech at the Chamber of Commerce event.
(Reporting by Stanley Widianto; editing by John Mair)
Richard C. Adkerson is a businessperson who has been the head of 9 different companies and holds the position of Chairman & Chief Executive Officer for Freeport-McMoRan, Inc. and President Commissioner for PT Freeport Indonesia, Chairman at Atlantic Copper SA and Chief Executive Officer at Freeport-McMoRan Mineral Properties, Inc. (which are all subsidiaries of Freeport-McMoRan, Inc.). Richard C. Adkerson is also Member of Council on Foreign Relations, Inc., Member of The Business Roundtable, Member of The Business Council and Member of Bill, Hillary & Chelsea Clinton Foundation and on the board of 8 other companies.
Mr. Adkerson previously occupied the position of Chairman, President & Chief Executive Officer for Stratus Properties, Inc., Co-Chairman at McMoRan Exploration Co., Managing Director & Partner at Arthur Andersen LLP, Campaign Chairman at Banner–University Medical Center Phoenix and President of University of Mississippi Foundation.
Mr. Adkerson received an MBA and an undergraduate degree from Mississippi State University.
Freeport-McMoRan Inc. specializes in the exploration and operation of copper and gold mines located primarily in the United States, Peru, Chile, Indonesia and Congo. Net sales break down by family of products as follows:
- copper (74.5%): refined copper and copper concentrates (57.2 billion ounces sold in 2025);
- gold (15%): 1,066,000 ounces sold in 2025;
- molybdenum (7.6%): 1.3 billion ounces sold;
- other (2.9%).
Net sales are distributed geographically as follows: the United States (34.9%), Switzerland (20.6%), Japan (11%), Indonesia (8.4%), Singapore (4.8%), the United Kingdom (4.4%), Spain (2.8%), China (2.5%), Chile (1.8%), Germany (1.3%), France (1.2%) and other (6.3%).
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