PT Equityworld | Shares of PT Freeport Indonesia Fall
Previous Minister of Finance (Finance) Sri Mulyani Indrawati said the change in status of Special Mining Business License (IUPK) of the work contract will save the business operations of PT Freeport Indonesia.
By converting the status of the mining company from the United States (US), it can still be export activities concentrate.
“We will try to continue to deliver to Freeport an arrangement, an arrangement that can maintain its own economic sustainability.
But we remain consistent with the rule of law (Mining),”
said Sri Mulyani at the office for Economic Affairs, Jakarta, Wednesday, February 22, 2017.
The government gave rights to Freeport Indonesia transition negotiations
and taxation of investment stability for 6 months from IUPK rises.
This is regarded as a process of negotiation open transition in the national interest,
for Indonesia, the people of Papua and Freeport.
“Freeport was a public company. If he stops (surgery), he will fall of its shares. In this case, there is no so-called win or lose.
If we want to continuously toward the negative, certainly not only bad for us, but also Freeport , “said Sri Mulyani.
PT Equityworld | Shares of PT Freeport Indonesia Fall
At the end of last week, shares of Freeport McMoran Inc. was down 1 percent impact statement of the company occurred force majeure or events can not be avoided so that the activities can not be carried out properly on Friday, February 17, 2017.
It makes Freeport McMoran has not been able to meet its contractual obligations or send copper concentrate from its Grasberg mine in Indonesia to.
Because the giant Freeport Indonesia mine production stalled after the government banned the export of copper concentrate on 12 January.
This part of the efforts to increase the smelter development in Indonesia.
Besides Freeport, BHP Billiton’s Escondia in Chile, the largest copper mine in the world also declared force majeure on 10 February.
This is because the strike for two days menghentiken production.
“Both mines it off. That means about 2 million tons, or nearly 10 percent of the world’s copper supply. This is a big problem,” said Jefferies analyst, Chris LaFemina as quoted from Reuters, Monday, February 20, 2017.
He said, the Grasberg mine is expected to produce 800 thousand tons of copper in 2017, or around 3.5 percent of global supply.
read our news in PT Equityworld
Shares of PT Freeport Indonesia Continues to Fall After Break Stocks •
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