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BPK notes PTFI violations related to the environment
REPUBLIKA.CO.ID, JAKARTA-BPK and the KLHK Ministry recorded losses suffered by Indonesia due to the mining process conducted by PT. Freeport Indonesia. This loss then becomes one of the items affecting the value of the share transfer.
Head of Corporate Communications and Interinstitutional Relations, PT. Inalum, Rendy A Witular describes aspects of the environment as a component in obtaining a value of $ 3.85 billion. This figure represents the value that Inalum will receive to acquire the Freeport Indonesia stock transfer.
"The environmental aspect is also included in the calculation," Rendy said at a meeting in the House of Representatives Monday (23/7).
In addition to the environmental aspects, Rendy also explained that the current price is the PT evaluation. Freeport Indonesia until 2041. This badessment is based on a joint framework agreement between FCX and the Indonesian government in August.
He also explained that in this badessment, Inalum and the Government of Indonesia did not include the reserves among the components of the share. Therefore, the existing reserves belong to Indonesia. The components calculated in the valuation are mine or production and cash flow that can be produced up to the end of the contract period.
"Production is not the same as reserves In this badessment, we do not consider reserves with high gold potential in the Wild Cats block, which is part of the PTFI concession block of PT Freeport Indonesia, underlined again that we have not calculated the reserves in the price evaluation, "said Rendy.
The Supreme Audit Agency (BPK) published two findings of violations by PTFI. The alleged violation relates to the misuse of the permit for the use of protected forest areas and changes in the ecosystem due to the operational waste of the mine
"On the basis results of calculations with experts from the IPB (Agricultural Institute of Bogor), the value of the ecosystem is sacrificed to the disposal of mining waste of 185 trillion rupees, "says Rizal Djalil, member of the BPK
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