Alhamdulillah, Finally, Government Owns 51 Percent Share of Freeport
Themoderatemuslims.blogspot.co.id - After years of waiting, PT Freeport Indonesia finally said it was ready to divest its shares up to 51 percent, as requested by the Indonesian government.
"This is the mandate of the president and this mandate is acceptable to Freeport Indonesia that the divestment will be made up to 51 percent," ESDM Minister Ignatius Jonan said in a press conference in Jakarta on Tuesday (29/8/2017).
With PT Freeport's decision, the Indonesian government must prepare at least 2.5 billion US dollars or about Rp 33 trillion.
In the press conference attended by Finance Minister Sri Mulyani and Freeport-McMoRan Copper & Gold Inc CEO Richard Adkerson, the total spawned 3 major deals:
1. Freeport Indonesia agreed to divest 51% of shares to the Indonesian side
2. Freeport Indonesia is committed to building a smelter within 5 years until January 2022, or 5 years after the Special Mining Business License (IUPK) is issued.
3. Freeport Indonesia agreed to correct the amount of state revenue so that it is better than the previous Contract of Work.
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