TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Freeport divestment to wrap up mid-July, says SOEs minister

State-Owned Enterprises (SOEs) Minister Rini Soemarno hinted on Saturday that state mining holding company Inalum's purchase of shares in gold and copper miner PT Freeport Indonesia (PTFI) was expected to be completed by mid-July.

Stefanno Reinard Sulaiman (The Jakarta Post)
Jakarta
Mon, July 2, 2018 Published on Jul. 2, 2018 Published on 2018-07-02T13:51:06+07:00

Change text size

Gift Premium Articles
to Anyone

Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Freeport divestment to wrap up mid-July, says SOEs minister Freeport Indonesia’s Grasberg mine in Mimika, Papua, is seen in this undated photograph. (JP/Nethy Dharma Somba)

S

tate-owned Enterprises (SOEs) Minister Rini Soemarno hinted on Saturday that state mining holding company Inalum's purchase of shares in gold and copper miner PT Freeport Indonesia (PTFI) was expected to be completed by mid-July.

The purchase is expected to wrap up Freeport's required divestment of 51 percent of its shares to Indonesian entities.

In a video released on metrotvnews.com, Energy and Mineral Resources Minister Ignasius Jonan said in Washington on June 28 that the discussion between the government and Freeport McMoran, PTFI's parent company, went beyond the value of the required divestment.

"The upcoming agreement deals with investment programs, operation programs such as a dividend policy through 2041,” Jonan said, adding that the details on these issues were discussed to avoid instability at Inalum and Freeport McMoran during the divestment process.

Meanwhile, Jonan said, the agreement on investment commitment was expected to maintain business stability, particularly during the government's policy change.

"For example, an agreement on tax and royalty is needed to anticipate changes in the issuance of new regulations," he said. (bbn)

Your Opinion Matters

Share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.

Enter at least 30 characters
0 / 30

Thank You

Thank you for sharing your thoughts. We appreciate your feedback.

Share options

Quickly share this news with your network—keep everyone informed with just a single click!

Change text size options

Customize your reading experience by adjusting the text size to small, medium, or large—find what’s most comfortable for you.

Gift Premium Articles
to Anyone

Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!

Continue in the app

Get the best experience—faster access, exclusive features, and a seamless way to stay updated.