Rini Optimistic SOEs Able to Manage Freeport Gold Mine

Rini Optimistis BUMN Mampu Kelola Tambang Emas Freeport 

JAKARTA - State Enterprises Minister Rini Soemarno assured the public that state-owned companies are capable of managing the Grasberg Mine, Papua which is currently controlled by PT Freeport Indonesia. It is therefore optimistic that the 51% divestment can be managed by the government.
"If we can not afford we have said from the beginning, we can see that the sisis asset and cashflow of SOEs, especially in the mine we are sure to be able to do it." In context as my SOE the current value is quite strong and big, "he said. Jakarta, Thursday (6/10/2017) night.
As previously known, the government with Freeport McMoRan Inc as the parent of PT Freeport Indonesia made a memorandum of understanding divest 51% shares. However, a reply was issued that Freeport McMoRan Inc. through the board of directors sent a letter of objection to the Indonesian government.
According to Rini, Freeport's problem is still in negotiations but it can not communicate much to the public. Currently still in on progress, even to this day continue to talk.
"In the matter of this divestment, the Ministry of SOEs is responsible for calculating and communicating with the Ministry of Finance regarding the negotiations with Freeport," I emphasize again, still on progress, "he added.
Basically the government already has a stock range of 9.34%. However, what the government wants is to raise 51% in the gold mine in Papua.
On that basis, Rini reiterated that the realization of the divestment of almost Rp10 trillion, SOEs are able to do that. "For example, PT Pertamina invests $ 15 billion in refineries for a well in Tuban because it is a state-owned company that has the ability to strengthen and do things like this," he explained.


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