Govt Urged to Quickly Buy Freeport Share Divestment

Translator

Editor

Kamis, 1 Januari 1970 07:00 WIB

Freeport mining in Indonesia. ANTARA/Spedy Paereng

TEMPO.CO, Jakarta - Director of Indonesian Resources Studies (IRES) Marwan Batubara said that the government should buy share divestment of PT Freeport Indonesia.

"The government should buy it now when the prices are low. Imagine, in 2011, the price was US$ 60, now it is only US$ 7,85 per share," Marwan said in Jakarta on Saturday (5/12).

He also said that the government should not make excuses because the government can look for funding from foreign loans.

Marwan also believed that in Freeport case, the public will not opposed to the reason the government seeks foreign loans to buy shares of the US mining giant.

Besides, he added, the reason is to maintain the government’s sovereignty in accordance with the mandate of Article 33 of the 1945 Constitution.

According to Marwan, if the government does not take action, in the next three months, Freeport will sell its shares through the initial public offering (IPO).

MAWARDAH NUR HANIFIYANI

Jokowi Aims to Complete Negotiation on 61% Freeport Share by June

29 hari lalu

Jokowi Aims to Complete Negotiation on 61% Freeport Share by June

President Jokowi aims to complete negotiations on increasing the government's share in PT Freeport Indonesia to 61 percent by June 2024.

Jokowi Gathers Ministers to Discuss Foreign Mining License

45 hari lalu

Jokowi Gathers Ministers to Discuss Foreign Mining License

President Joko Widodo or Jokowi convened a limited meeting with the cabinet ministers at the State Palace, Jakarta, on Wednesday, March 13, 2024.

Freeport Indonesia Claims Changes in Operation Help Reduce Carbon Emission by 24%

27 September 2023

Freeport Indonesia Claims Changes in Operation Help Reduce Carbon Emission by 24%

Freeport attributes this claim to the company's decision to change some of its operating methods, including changing fuels.

Freeport Indonesia Opens Internship Recruitment for Students

29 April 2023

Freeport Indonesia Opens Internship Recruitment for Students

PT Freeport Indonesia is opening recruitment for internships to active students with a minimum GPA of 2.8.

President Says Freeport Indonesia's 5G Remote Mining a First in Southeast Asia

1 September 2022

President Says Freeport Indonesia's 5G Remote Mining a First in Southeast Asia

Jokowi inaugurated the 5G underground "smart mining" implemented in Freeport Indonesia's underground mining facility.

Jokowi Scheduled to Visit Freeport Indonesia Mining Facility

1 September 2022

Jokowi Scheduled to Visit Freeport Indonesia Mining Facility

President Jokowi has departed for Papua to visit the Grasberg Mine that is currently operated by Freeport Indonesia.

Jokowi Talks of 4.9% Inflation with Freeport McMoRan Boss

31 Agustus 2022

Jokowi Talks of 4.9% Inflation with Freeport McMoRan Boss

President Jokowi visits the headquarter of PT Freeport Indonesia in Mimika Regency, Papua.

5 People in Freeport's Circle Died from Covid-19

29 September 2020

5 People in Freeport's Circle Died from Covid-19

Five people within the first ring-or Ring One-of Freeport Indonesia's (PTFI) area have died from Covid-19.

51 Workers Contract to Covid-19; Freeport Continues Operation

15 Mei 2020

51 Workers Contract to Covid-19; Freeport Continues Operation

Freeport Indonesia has decided to continue its operation in Tembagapura, Papua, despite 51 of its employees testing positive for COVID-19.

Freeport Allocates Rp8tn for Smelter Project

19 Februari 2020

Freeport Allocates Rp8tn for Smelter Project

Freeport is preparing US$600 mn to build smelting facilities at the Java Integrated Industrial and Port Estate (JIIPE) in Gresik, East Java this year.