Saturday, 19 October 2019

Freeport Wants Assurance of Investment Stability

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  • Grassberg Freeport-McMoran Cooper & Gold Inc. mine in Papua. REUTERS/Stringer

    Grassberg Freeport-McMoran Cooper & Gold Inc. mine in Papua. REUTERS/Stringer

    TEMPO.CO, Jakarta - Energy and Mineral Resources Ministry official Tagih Pamudji said that mining company Freeport Indonesia wants assurance that the government issue a regulation (PP) on investment stability.

    “Freeport has submitted documents that we will need to study. The first is about IUPK [special mining permit], and the second one is about investment stability, and the third one is about regulation in the form of the government regulation,” Teguh said in Jakarta yesterday.

    He added that the Freeport has agreed to build a smelter by 2022.

    “As to whether Freeport may export concentrates during smelter construction with specific export duty rate, the negotiation is underway. We will start again next week,” Teguh said.

    The Finance Ministry earlier has prepared a regulation that will be discussed with Freeport.

    “A government regulation? It will apply to all [companies] to anticipate [the change of status from] contract of work to special mining permit. We prepare [the regulation] not for Freeport, but for all, to protect all,” Finance Minister official explained.

    Earlier, the Coordinating Minister for Maritime Affairs Luhut Binsar Panjaitan said that the negotiation between the Indonesian government and Freeport Indonesia was running according to plan.

    “Last Night, Pak Jonan [the Energy Minister] met me. There was nothing unusual in the negotiation,” Luhut said Tuesday in Jakarta.

    ANTARA