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1) Bukit Asam in Talks to Supply Coal to Freeport
By : Vanesha Manuturi | on 5:13 PM September 20, 2015
Jakarta. State coal miner Bukit Asam is cooking up plans to supply coal to Freeport Indonesia, a local unit of US mining giant Freeport-McMoran, as part of the government's initiative for Freeport to use more locally-based products in its business.
"We've started talking with Freeport about the prospects of providing coal for Freeport's power plants and about teaming up to build the power plants. Hopefully, these plans can materialize soon," Bukit Asam president director Milawarman said in a statement.
Milawarman added that the publicly-listed state company is hoping to become a partner for Freeport's power plant in Timika, Papua, and its smelter in Gresik, East Java.
Talks between Bukit Asam and Freeport were conceived amid calls from Industry Minister Saleh Husin, urging Freeport to utilize local components and products.
"Freeport has become a part of the national industry, so it must be supported by other industries," Saleh said during his visit to Freeport's mine in Papua's Mimika district over the weekend.
"In line with Freeport's investment commitment and operations in Indonesia, I asked them to use more local products, such as steel from Krakatau Steel, cement from Semen Indonesia, and coals from Bukit Asam, among other things."
Others to attend the meeting included National Development Planning Minister Sofyan Djalil and Minister of Energy and Natural Resources Sudirman Said, as well as several top executives from state owned enterprises, such as Bukit Asam, steel maker Krakatau Steel and cement manufacturer Semen Indonesia.
Responding to calls from the Industry Minister, Freeport Indonesia president director Maroef Sjamsuddin said that the miner is "open" to the opportunity of partnerships with state-owned companies.
Freeport Indonesia earmarked up to $1.7 billion (Rp 22.41 trillion) in capital expenditure this year, $1.16 billion of which is allocated for local spending and $498 million for imports, according to a statement from the Industry Ministry.
As of July, the mining giant has spent up to 36 percent, or about $422 million, of its capex, the statement said.