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Jakarta Post

Govt sticks to guns over Freeport negotiations

  • Viriya P. Singgih

    The Jakarta Post

Jakarta   /   Wed, July 5 2017   /  12:22 am

The government is sticking to its guns over the negotiations with gold and copper miner PT Freeport Indonesia, keeping a firm stance on the company’s contract conversion and divestment requirements.Various ministers and other relevant parties gathered on Tuesday morning at the Finance Ministry to discuss four main issues regarding Freeport’s future operations in the country, namely its contract extension, smelter development, divestment and investment stability guarantee.The State-Owned Enterprise (SOE) Ministry’s deputy for mining, strategic industries and media affairs, Fajar Harry Sampurno, told reporters that the government would only extend Freeport’s contract two times — each extension would last for 10 years — if the company converts the contract of work (CoW) that it signed in 1991 into a special mining permit (IUPK). Freeport’s contract will be evaluated once again...