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Freeport Divestment Deal to be Finalized This Week

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26 September 2018 20:44 WIB

Indonesia's Energy and Mineral Resources Minister Ignasius Jonan (L) and Indonesia's Finance Minister Sri Mulyani Indrawati (C) watch as Freeport-McMoRan Chief Executive Officer Richard Adkerson and PT Inalum Chief Executive Budi Gunadi Sadikin signs an initial agreement for the state-owned mining company PT Inalum to take a controlling stake in Freeport's local unit during a ceremony in Jakarta, Indonesia, July 12, 2018. Tempo/Tony Hartawan

TEMPO.CO, Jakarta - The finalization of Freeport`s 51 percent share divestment is targeted to be completed this week.

The State-owned Enterprises Ministry`s deputy of Mining, Strategic Industry and Media Fajar Harry Sampurno said as based on the initial agreement with the Finance Minister, the deadline of the signing of sales and purchase agreement (SPA) was at the end of September.

“In the agreement, everything will be completed this week. Ask Inalum for the payment,” he said, Wednesday, September 26. Fajar denied that the SPA completion would be done today.

Last night, September 25, Freeport Indonesia's deputy chief Tony Wenas said that his office was still continuing the discussion with the government. "We're still holding talks and discussions," he said.

Previously on September 3, SOE Minister Rini Soemarno targeted the Freeport's 51 percent share divestment would be final at the end of September this year. 

BISNIS.COM

Business CompetitionFreeport Indonesia


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