Indonesia, Freeport sign MoU to extend mining permit beyond 2041

The Indonesian government and U.S.-based mining giant Freeport-McMoRan, along with its subsidiary Freeport Indonesia, have signed a memorandum of understanding (MoU) to extend Freeport Indonesia's mining operating permit beyond 2041. As reported by Reuters, Freeport-McMoRan Chairman Richard Adkerson said the MoU was signed with Indonesia's Minister of Investment Rosan P. Roeslani.

Adkerson's statement was delivered at an event hosted by the U.S. Chamber of Commerce in Washington, D.C., on Wednesday, February 18, 2026 local time. The event was also attended by Indonesian President Prabowo Subianto.

The extension of the permit marks a significant step in ensuring the sustainability of mining sector investment in Indonesia, particularly amid rising global demand for strategic minerals such as copper, which is essential for the energy transition and electric vehicle production. Prabowo's visit to the United States also included meetings with advisers linked to U.S. President Donald Trump, as well as discussions on broader economic cooperation, including efforts to negotiate lower trade tariffs.

In his remarks before American business leaders, Prabowo reaffirmed Indonesia's commitment to strengthening bilateral ties. "We want the best possible relationship with the United States in all fields, both political and economic," he said as quoted by Reuters, on Thursday. Prabowo had been in Washington, D.C., since Tuesday, February 17, 2026.

Apart from business deals, the Indonesian president's agenda includes attending the Summit of the Board of Peace (BOP) for Gaza and signing an Agreement of Reciprocal Trade (ART) concerning mutual trade tariffs.