Tuesday, 23 October 2018 | 19:39 WIB

Sri Mulyani: Divestment of Freeport Shares Not Negotiable

PT Freeport Indonesia.

JAKARTA, NNC - Finance Minister Sri Mulyani Indrawati firmly stated that the divestment of PT Freeport Indonesia's shares by 51 percent is not negotiable.

Sri Mulyani said negotiation process on more detailed matters with PT Freeport Indonesia is still ongoing and the acquisition of the divested shares is one of the themes discussed.

The follow-up to the negotiations currently cannot be publicized because the government is bound by a commitment not to publish matters related to negotiations before negotiations are finalized.

"That does not mean we are not transparent, but we respect corporate governance," said Finance Minister during the signing ceremony of the acquisition of PT Freeport Indonesia divested shares by the Papua regional government in Jakarta on Friday (1/12/2018).

However, the former managing director of the World Bank asserted that the divestment of 51 percent remains a priority of the Indonesian government.

"We are heading there and we will announce the package as soon as it is finished," she said.

Previously, the central government together with the government of Papua Province, the Government of Mimika Regency and PT Inalum signed the divestment agreement of PT Freeport Indonesia.

Under this agreement, the governments of Papua Province and Mimika Regency will jointly own the rights to PT Freeport Indonesia shares amounting to 10 percent after the divestment.