Friday, March 15, 2019

1) Freeport Denies Rumors of Reserves Depleting in 2041

2) Papuans face violence, detentions, threats - US State Dept report
3) Govt tells Papua, Mimika to set up BUMD for Freeport shares

1) Freeport Denies Rumors of Reserves Depleting in 2041

Freeport Denies Rumors of Reserves Depleting in 2041
TEMPO.COJakarta - Freeport Indonesia (IDX: PTFI) president director Clayton Allen Wenas refuted rumors saying that the company's mineral reserves will be depleted by 2041. He said the miner still has billions of numerous types of metal reserves.
"Right now we have 1.8 billion stock reserves of copper, gold and silver ores," he said at Tempo's office on Thursday, March 14. 
Tony said that 1.8 billion tons equal to using some 200,000 tons per day. That means 73 tons produced each year. With that calculation, the reserves will last for 24 years or until 2043.
Additionally, there are still some 2 billion tons of resources. When explored, half of that volume will become reserves.
Freeport Indonesia and Inalum have completed the share divestment process after two years of intensive negotiation between the two companies, PTFI parent company Freeport McMoran Inc.' and Rio Tinto.
The shares takeover granted PTFI a license for special mining operations (IUPK) that is valid until 2041.  


2) Papuans face violence, detentions, threats - US State Dept report
A new US government report has found West Papuans continue to face violence, politically-motivated detentions and threats in Indonesia.
4:17 pm today 

The findings were part of a State Department review of Indonesia's human rights conduct last year.
The report, released on Wednesday, found clashes involving police, military and indigenous communities in Papua and West Papua continued in 2018.
It said state accountability had been hampered by a lack of transparent investigations into past human rights abuses.
On Wednesday, Indonesia's representative to the UN said these violations continued to be dealt with by the Attorney-General.
The US State Department report said a number of Papuans were briefly detained for peacefully expressing political views.
"Papuan NGOs and activists received threatening phone messages and reported continuous harassment by local police."
The report added that would-be demonstrators were refused permits by Police in Papua because they were likely to make calls for independence, which is prohibited in Indonesia.
"Restrictions on foreign journalists travelling to Papua and West Papua Provinces remained," it said.
Read the full report here.

3) Govt tells Papua, Mimika to set up BUMD for Freeport shares

News Desk The Jakarta Post
Jakarta   /   Fri, March 15, 2019   /   01:17 pm

The government has told the administrations of Papua province and Mimika regency to establish a region-owned enterprise (BUMD) to hold the 10 percent combined shares they were allotted through the divestment of copper and gold miner PT Freeport Indonesia (PTFI).
Mining, strategic industry and media affairs undersecretary Fajar Harry Sampurno of the State-Owned Enterprises (SOEs) Ministry said the BUMD was expected to be established this year.
“It will be better if it is [established] in the first half [of 2019],” Fajar said as quoted by on Thursday.
Under the initial agreement, the Papuan people were allotted 10 percent shares from the 51 percent PTFI divestment package, with 3 percent shares to be distributed to Papua province and 7 percent shares to Mimika regency.
However, as the two regional administrations had not reached an agreement on the shares allocation, state mining holding company Indonesia Asahan Aluminium (Inalum) was still holding onto the 10 percent shares, Fajar said.
He added that the Finance Ministry and Home Ministry were assisting the Papua and Mimika administrations in resolve their differences.
Inalum now controls 51.23 percent shares in PTFI, following the closure of the US$3.85 billion divestment deal on Dec. 21, 2018 between the government and PTFI parent company Freeport-McMoRan. (bbn)

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