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View all search resultsThe government responded on Monday to Papua Governor Lukas Enembe's opposition to the assignment of PT Indocopper Investama (PTII) as the company that will accommodate 10 percent of gold and copper miner PT Freeport Indonesia’s (PTFI) shares that have been allocated for Papua.
Gold and copper miner PT Freeport Indonesia (PTFI) has obtained antitrust permits from Japan and South Korea required for the entry of state mining holding company PT Indonesia Asahan Aluminium (Inalum), which will control a major stake in PTFI.
Moody's Investors Service has assigned a Baa2 issuer rating to state-owned mining holding company PT Indonesia Asahan Alumunium (Inalum) and a Baa2 rating to the company's proposed senior unsecured notes. The outlook on the ratings is stable.
The government has issued another temporary permit extension for gold and copper miner PT Freeport Indonesia as the divestment process of shares from Freeport-McMoran (FCX) to state-owned mining holding company PT Indonesia Asahan Aluminium (Inalum) is still incomplete.
After reaching a divestment deal on Thursday, gold and copper miner PT Freeport Indonesia (PTFI) will now focus on a smelter construction plan, which is required for the company to obtain the special mining permit (IUPK) that is needed to operate the Grasberg gold and copper mine in Papua.
State mining holding company Indonesia Asahan Aluminium (Inalum) plans to issue global bonds whose proceeds will be used to pay for a loan to finance the purchase of majority ownership in Freeport Indonesia (PTFI), the operator of the world’s second-largest copper mine in Papua.
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