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Jonan Wants Freeport to List on IDX
From left to right, CEO of Arizona-based Freeport-McMoRan Copper & Gold Inc. Richard Adkerson, Indonesian Finance Minister Sri Mulyani Indrawati, and Energy and Minerals Minister Ignasius Jonan confer during a press conference in Jakarta, Aug. 29, 2017. AP
Tuesday, 07 November, 2017 | 18:14 WIB
Jonan Wants Freeport to List on IDX

TEMPO.CO, Jakarta - The Energy and Mineral Resources Minister Ignasius Jonan said he would ask Freeport Indonesia to list their shares on the Indonesia Stock Exchange (IDX). But he said he wants the US-based miner to finalize the divestment process first.

"For now, the divestment must be done first. Once the central government and Papua provincial government have the 51 percent share, we can think about [Freeport] going public. Not now," Jonan said at the IDX building on Monday, November 7.

The minister said it is very important to keep pushing for transparency. "So the issues of tax payments, accountability, and so on, are getting better," he said.

According to Jonan, there are not many big miners in the stock market, except for companies that have become an Indonesian company.

Jonan said Freeport Indonesia's [divestment] is, in principle, completed. The acquisition will be done in the near future and the conversion of shares according to the president's direction will be done gradually in accordance with the government's ability.  

"Hopefully, when [the divestment] is finalized, [Freeport] will one day list on the IDX," the minister added. 

CANDRA NUGRAHA (TASIKMALAYA)



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