Government has no obstacles in negotiations with Freeport: Minister

Jakarta (ANTARA News) - Finance Minister Sri Mulyani Indrawati stated that the negotiation process with PT Freeport Indonesia is still continuing and does not face any obstacles.

"We are still in line with the target of doing four things, namely divestment, smelter development, certainty of investment and state tax revenue, and extension of (Freeports) operations (permit)," Sri Mulyani stated in Jakarta on Tuesday.

She noted that the extension of the operation will be linked to the mining business permit and will include all main obligations that must be implemented by Freeport Indonesia.

The government will ensure its term for the construction of a smelter. Regarding investment and state revenue, the government will emphasize on how to increase the payment of regional and central tax royalties.

"We will also take steps regarding the divestment, including the year of execution," she remarked.

Related to the divestment, Indonesian Stock Exchange (BEI) President Director Tito Sulistio expressed hope that PT Freeport Indonesia would conduct an initial public offering (IPO) in Indonesia Stock Exchange.

"People love the opportunity to have their shares," he added.

He revealed that his party had also discussed with Freeport Indonesia on releasing some of its shares to the public through the mechanism of the IPO.

"In principle, Freeport is willing to do so," he pointed out.

Source: ANTARA News

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