Wednesday, March 7, 2018

1) Indonesia collects US$756m in state revenue from Freeport in 2017

2) Sogavare suffering from 'memory loss': Ratu Inoke
1) Indonesia collects US$756m in state revenue from Freeport in 2017
Viriya P. Singgih The Jakarta Post
Jakarta | Wed, March 7, 2018 | 07:36 pm

A heavy vehicle drives through an open pit mine at gold and copper miner PT Freeport Indonesia’s open pit facility in Grasberg, Tembagapura, Mimika, Papua. (JP/Nethy Dharma Somba)

The government collected US$756 million in revenue from gold and copper miner PT Freeport Indonesia (PTFI) last year, of which 19.9 percent came from non-tax revenue (PNBP) and 17.85 percent from dividend.
PTFI paid $151 million in PNBP and $135 million in dividend to the government in 2017. Furthermore, it also paid $82 million in export duty, $108 million in corporate income tax and $280 million in other types of revenue.
“Total state revenues from PTFI amounted to $756 million in 2017 alone and $17.3 billion in the 1992-2017 period,” PTFI executive vice president Tony Wenas said during a hearing with House of Representatives Commission VII overseeing energy on Wednesday.
PTFI, the local unit of United States-based mining giant Freeport-McMoRan (FCX), has estimated that it will have to pay $6 billion in PNBP within the 2018-2041 period.
Since early 2017, the government has been negotiating intensely with FCX regarding PTFI’s future operations in the country. PTFI currently operates the Grasberg mine, the world's largest gold mine and second-largest copper mine.
The government's demand include an increase in Indonesian ownership in PTFI from 9.36 percent to 51 percent in return for an extension to PTFI's operating permit. PTFI is also expected to convert its contract of work (CoW) into the special mining permit (IUPK) and build a new smelter by January 2022.
President Joko “Jokowi” Widodo has called for negotiations with PTFI to be completed by April at the latest. (bbn)

Fiji News

2) Sogavare suffering from 'memory loss': Ratu Inoke

06:45 Today

Defense Minister, Ratu Inoke Kubuabola says the Deputy Prime Minister for the Solomon’s Manasseh Sogavare may have amnesia.
Kubuabola says Sogavare was chairing the Melanesian Spearhead Group Leaders meeting at the time in which Indonesia’s membership was endorsed.
Sogovare this week in the Solomon Parliament called for an apology from Prime Minister Voreqe Bainimarama saying that he solely made the decision to make Indonesia a member of the MSG.
“There’s no need for our Prime Minister to apologise, I think the Deputy Prime Minister Sogovare must be suffering from memory loss because when he was Chairman of the MSG, Indonesia was admitted to be an associate member and all the members of the MSGagreed so I don’t know what he’s talking about.”
Meanwhile another issue of contention echoed by Sogavare was the pending membership of the ULMWP from West Papua.
Kubuabola says Indonesia’s membership was well within the requirements under the MSG, it’s more difficult with ULMWP because it’s a separatist movement and not a sovereign state.

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