Freeport lays off 25 senior employees
The Jakarta Post
Gold and copper miner PT Freeport Indonesia has laid off 25 senior employees as the company negotiates with the government regarding the conversion of its contract of work (CoW) to a special mining license (IUPK).
Freeport Indonesia spokesperson Riza Pratama said in principle, the company had agreed to convert its CoW to adjust to the new regulation.
“There are 25 [who were laid off] at the senior official level,” Riza confirmed, adding that the company had also informed its contractors to change their operation plans and reduce its number of employees.
Freeport Indonesia employs some 32,000 people totally, including the staff of its contractors. “If we cannot export, it is possible that reductions of our workforce may continue,” Riza added.
“We are ready to convert to the IUPK if there is an agreement on investment legal and fiscal stability assurances like in the CoW,” said Riza as reported by tribunnews.com.
Freeport also wants the contract to be extended to 2041, as well as ensuring its unchanged tax status. The government has yet to respond to Freeport’s proposal.
Freeport has temporarily stopped operations despite still having large stocks of mineral concentrates. (bbn)
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