Gov't Has Not Determined Freeport Divestment Valuation: Ministry

Annisa ayu artanti    •    27 April 2016 11:02 WIB
mining
Gov't Has Not Determined Freeport Divestment Valuation: Ministry
Illustration (Photo: Antara Foto/Ahmad Subaidi)

Metrotvnews.com, Jakarta: The Ministry of Energy and Mineral Resources mentioned it has not yet determined the value of 10.64 stake offered by  PT Freeport Indonesia.
 
The Ministry's director general of mineral and coal, Bambang Gatot denied the government has set the the price at USD630 million. 
 
"Who said USD630 million? There is no such thing," stated Bambang when contacted by the press in Jakarta, Tuesday (4/26/2016).
 
He explained that the government is still calculating as it thinks the initial price is too high. Freeport offered 10.64 percent stake for USD1.7 billion.
 
"We are still discussing. There is no target. It should be this year, if not completed, then next year," he concluded.



(WAH)