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Minister: Gov't Discusses to Take Over Freeport Mines  
(left to right) Coordinating Minister for Maritime Affairs Luhut Binsar Panjaitan, Transportation Minister Budi Karya Sumadi, and State-Owned Enterprises Minister Rini Soemarno. TEMPO/Subekti.
Monday, 27 February, 2017 | 15:10 WIB
Minister: Gov't Discusses to Take Over Freeport Mines  

TEMPO.CO, Jakarta - Coordinating Minister for Maritime Affairs Luhut Binsar Pandjaitan, said that the proposal to have state-owned enterprises manage Freeport Indonesia's mines was delivered by State-Owned Minister Rini Soemarno. However, Luhut said that the government is currently discussing the mechanism to take over the mines.

"That was the proposal of the State-Owned Minister, we’ll see in the future," Luhut said on Monday, February 27, 2017.

Luhut explained that there is a possibility where state-owned enterprises would establish cooperation with the private sector to operate Freeport's mines. Luhut added that the issue is still open for many possibilities. "Well we could [pair] PT Indonesia Asahan Aluminium [Inalum] with PT Aneka Tambang [Antam], or it could be Inalum, Antam, and the private sector," Luhut explained.

Luhut however, cannot explain whether the government will decide to take over the mines by purchasing the company's divested shares, or wait until its contract of work expires.

"We'll see what's best, the options are clear, there are regulations, and there are agreements," Luhut stated.

Nevertheless, Luhut said that the government will continue to attempt to conduct negotiations with Freeport Indonesia in an attempt to find a win-win solution, without neglecting national interests.

Luhut argued that the government will strive to find the best solution to avoid international arbitration. "No one should went to international arbitration, it would be a zero sum game," Luhut stated.


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