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Luhut: Freeport`s Share Divestment Timing Being Discussed
Luhut Pandjaitan (C), Indonesian chief security minister and key presidential adviser, gestures as he arrives for a parliamentary ethics panel hearing about allegations that parliament speaker Setya Novanto tried to extort shares in the local unit of mining giant Freeport McMoRan Inc, in Jakarta, December 14, 2015. REUTERS/Darren Whiteside
Wednesday, 04 October, 2017 | 17:24 WIB
Luhut: Freeport`s Share Divestment Timing Being Discussed

TEMPO.CO, Jakarta - Coordinating Minister for Maritime Affairs Luhut Binsar Pandjaitan said that the process of Freeport`s 51 percent share divestment remains underway. Luhut revealed that the government and Freeport are discussing the divestment timing.

“The current issue being raised is when the 51-percent share divestment will be realized,” Luhut said after speaking at Social Good Summit 2017 at Plaza Indonesia in Jakarta today, October 4.

Read: VP Jusuf Kalla Confident of Freeport Divestment Deal

Luhut made the statement in response to a letter sent by Freeport McMoran Inc CEO Richard Adkerson to Finance Ministry’s secretary general Hadiyanto on September 28, 2017. Adkerson in the letter expressed his disagreement on a statement included in a document and stated his response and clarification on the inaccuracy related to the government’s position.

The minister added that he would soon meet with relevant stakeholders to finalize the realization. According to Luhut, a deliberation will decide whether the divestment plan will be realized in 2021 or later.

Minister Luhut asserted that the Indonesian government reserves the right to own 51 percent of Freeport’s shares.



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