Government through the state-owned miner PT Indonesia Asahan Aluminium (Inalum) is set to sign the Sales and Purchase Agreement on the share sales of PT Freeport Indonesia (PTFI) with US’ Freeport-Mcmoran Gold & Copper Inc. and Australia’s Rio Tinto Rio Limited.

As we know, Inalum will become around 46% shareholder of PTFI, by buying shares from Freeport-Mcmoran and Rio Tinto for US$3.85 billion. Currently Inalum and PT Indocopper Investama, a local unit of Freeport-Mcmoran have 9.36% stake in PTFI, each.

The managing director of PTFI Tony Wenas at the US-Indonesia Investment Summit 2018 admitted there will be something to sign today. But he did not give more explanation on the announcement.