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Jakarta Post

Freeport to settle final issue in divestment deal

  • Stefanno Reinard Sulaiman

    The Jakarta Post

Jakarta   /   Thu, July 5 2018   /  02:50 am

The government’s recent decision to extend the temporary special mining permit (IUPK) for PT Freeport Indonesia (PTFI) is meant to give the gold and copper miner more time to settle its environmental issues.The matter is the final point in a lengthy negotiation on the divestment process of PTFI, the local affiliate of United States mining giant Freeport-McMoran (FCX). The government has said that the divestment must be finalized no later than mid-July.“The company needs more time to sort out issues related to the environment with the Environment and Forestry Ministry,” Bambang Gatot Ariyono, the Energy and Mineral Resources Ministry’s mineral and coal director, said on Wednesday. The government has for the fourth time extended the mining company’s special permit for one month until July 31, on the grounds that it would provide ample time to fully finalize four key aspects in th...