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Jumat, 20 November 2015

Govt Has No Plans to Renew Freeport Contract Until 2019: Minister

 Govt Has No Plans to Renew Freeport Contract Until 2019: Minister i
Jakarta. The Indonesian government will not hold contract renegotiations with Freeport Indonesia until 2019, a key minister said on Thursday morning, amid allegations House of Representatives speaker Setya Novanto had attempted to extort the mining giant.
"Despite receiving mounting pressure to extend Freeport's contract, the president understands that the government is prohibited by law to extend operational contracts two years before the current contract expires," Coordinating Minister for Politics, Legal and Human Rights Luhut Panjaitan told reporters in Jakarta.
Freeport's contract is to expire in 2021, but the miner has requested an extension to 2041.
Luhut added that President Joko Widodo had made four demands to Freeport: royalty, local content obligations, the construction of a local smelter and divestment.
Freeport has vowed to invest $17 billion in developing underground pits for its Grasberg mine in Papua through 2041 as existing pits have almost entirely been exploited.
The miner signed a contract of work (CoW) with the government in 1967, shortly after then-president Suharto took office.
Asked about the current spat involving Setya, who was accused by Energy Minister Sudirman Said of using the president's name in an alleged extortion attempt on Freeport, Luhut remained adamant he would not file a lawsuit against anyone.
"I never attended any meeting discussing the renewal of Freeport's contract," Luhut added.

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