Indonesia, Freeport Reach
Agreement on 51% Divestment
The
Indonesian government and the United States mining company Freeport McMoran
have agreed four issues after months of negotiations. During a press conference
on Tuesday, August 29th, 2017 Indonesia's Energy and Mineral
Resources Minister Ignasius Jonan was said we started the process early this
year and we intensified the process three or four months ago. Freeport will
divest a 51 percent stake in its Indonesian unit to local parties in the near
future. In exchange, it will receive an extension on its permit to operate
copper and gold mines until 2041. The mining company will guarantee a
significant increase of state revenue. Moreover,it will construct a news melter.
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