State-owned mining holding company Inalum now owns a 51 percent from the previous figure of 9.36 share of gold and copper miner PT Freeport Indonesia after years of “tough” negotiations, President Joko “Jokowi” Widodo announced on Thursday.

Previously, US mining giant Freeport McMoRan Inc. (FCX), a parent company of PT Freeport Indonesia, owned 90.64 percent of PT Freeport Indonesia’s shares. Jokowi said the completion of Freeport’s divestment was a breakthrough for Indonesia, because the country could now enjoy more taxes, royalty and dividends from the company