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Minister Luhut: Negotiations with Freeport Will Run Smoothly
Coordinating Minister for Maritime Affairs Luhut Binsar Pandjaitan. TEMPO/Dhemas Reviyanto
Friday, 24 February, 2017 | 16:22 WIB
Minister Luhut: Negotiations with Freeport Will Run Smoothly

TEMPO.CO, Jakarta - Coordinating Minister for Maritime Affairs Luhut Binsar Panjaitan believed that the negotiations between the government and PT Freeport Indonesia had run smoothly.

"I think the Energy and Mineral Resources Ministry has handled the issue. So, let Minister Jonan does his works, because that was the deal," Luhut said after attending a meeting at the Finance Ministry in Jakarta on Friday, February 24, 2017.

In response to a question related to President Joko "Jokowi" Widodo's wish to achieve a win-win solution for both sides, Luhut said that he would not speculate about a deadlocked negotiation.

"I don't want to speculate. We should see the situation. I think everything is going well," Luhut added.

Earlier, Freeport stated that they will comply with the government’s request to shift from a holder of Contract of Works to a special mining license holder. However, Freeport asked the government to guarantee an investment stability and fiscal certainty that are similar to those set forth in the contract of works.

Freeport McMoRan CEO Richard Adkerson gave 120 days, starting from the last meeting between both sides on Monday, February 13, 2017, to the government to resolve the differences. Otherwise, Freeport will go through an arbitration process to settle the dispute.

Freeport also rejected the special mining license and urged a guarantee for its underground mining investment worth US$15 billion until 2041. The company also rejected an obligation to divest 51 percent of its shares.


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