January 2016, Deadline Freeport Bids Submitted to Indonesian Government
Rabu, 16 Desember 2015 - 22:09 WIB
January 2016, Deadline Freeport Bids Submitted to Indonesian Government
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JAKARTA - Director General of Mineral and Coal, Ministry of Energy and Mineral Resources, Bambang Gatot Ariyono said deadline Freeport bids submitted to the Indonesian government in January 2016 at the latest.
"Currently, Freeport was counting assumptions, how big is 10.64 percent stake, and then later the results are submitted to the government assuming Indonesia, no later than January," said Billy after attending "Smelter and Mining Sustainable Discussion" on Wednesday ,
He said that after the government received a quote and then the government evaluate the bidding results through the evaluation team has been formed.
"Having evaluated, then the government will propose negotiations to Freeport," he said.
After the negotiation process is completed, then the Ministry of Energy will submit the results of negotiations Freeport to the Ministry of Finance. Furthermore, he explained that if the results have been studied by the Ministry of Finance then be appointed by the Ministry of Finance who will buy the stock.
"Yes after received by the Ministry of Finance then, he (MoF) designate who will take over, whether or Inalum Antam, can also others," said Billy.
In addition, if the time limit is exceeded, then there will be a further warning from the Government of Indonesia for Freeport. Furthermore, he said there could be a warning of one, two or three, but do not directly and immediately there was a decision "default".
"Not as hard as it directly default, no process was, it could be a warning or reprimand other," he said.
According to information, the amendment of PT Freeport Indonesia's Contract of Work required to sell a 30 percent stake to the government of Indonesia to 2019.
Whereas, now 9.36 percent stake in Freeport Indonesia has been owned by the government. This time period, Freeport bid stake of 10.64 percent of shares owned by the government of Indonesia, it is part of an agreement to divest a 30 percent stake in it.
"Currently, Freeport was counting assumptions, how big is 10.64 percent stake, and then later the results are submitted to the government assuming Indonesia, no later than January," said Billy after attending "Smelter and Mining Sustainable Discussion" on Wednesday ,
He said that after the government received a quote and then the government evaluate the bidding results through the evaluation team has been formed.
"Having evaluated, then the government will propose negotiations to Freeport," he said.
After the negotiation process is completed, then the Ministry of Energy will submit the results of negotiations Freeport to the Ministry of Finance. Furthermore, he explained that if the results have been studied by the Ministry of Finance then be appointed by the Ministry of Finance who will buy the stock.
"Yes after received by the Ministry of Finance then, he (MoF) designate who will take over, whether or Inalum Antam, can also others," said Billy.
In addition, if the time limit is exceeded, then there will be a further warning from the Government of Indonesia for Freeport. Furthermore, he said there could be a warning of one, two or three, but do not directly and immediately there was a decision "default".
"Not as hard as it directly default, no process was, it could be a warning or reprimand other," he said.
According to information, the amendment of PT Freeport Indonesia's Contract of Work required to sell a 30 percent stake to the government of Indonesia to 2019.
Whereas, now 9.36 percent stake in Freeport Indonesia has been owned by the government. This time period, Freeport bid stake of 10.64 percent of shares owned by the government of Indonesia, it is part of an agreement to divest a 30 percent stake in it.
(rnz)
