Jonan meets Freeport boss in the United States, What's Discussed?

JAKARTA, KOMPAS.com – Minister of Energy and Mineral Resources (EMR) Ignatius Jonan met with Freeport McMoran CEO Richard Adkerson on the sidelines of his visit to the United States. took place on Monday (25/06/2018). During the meeting, Jonan and Richard discussed the Grasberg gold and copper mine in Papua.

As cited in Reuters, Friday (29/6/2018), Jonan states that Freeport needs the freedom to operate the mine the right way in the near future. However, the government has insisted on expressing itself.

"We agree that in the event that Freeport's operations are to be held accountable at this time, to be honest, we have no expertise for that," Jonan said.

However, Jonan added, operational control should be held by both parties.

Previously reported, the government commissioned Inalum as holding holding BUMN operation to process the 50% divestment of PTFI.

Ministry of State Enterprises (BUMN) revealed that the divestment valuation of 51% billion to 5 billion US dollars. The calculation was submitted to President Joko Widodo for later decision.

Currently, Indonesia has only 9.36 percent of PTFI. In order to achieve a target of 51%, Inalum was commissioned to purchase a 40% (PI) stake held by Rio Tinto and then PI to be converted into actions.