FREEPORT EXPECTED TO COMPLETE DIVESTMENT THIS MONTH

by Andi Abdussalam

Jakarta, April 14 (Antara) - The US-based gold and copper mining company PT Freeport Indonesia (FI) is expected to divest 51 percent of its shares this month based on the directives of President Joko Widodo.         The government has assigned state-owned mining holding firm PT Indonesia Asahan Aluminium (Inalum) to hold negotiations with PT FI on the divestment of its shares.         Inalum President Director Budi Gunadi Sadikin confirmed that his company is now closer to completing negotiations on the divestment deals.         He stated that the divestment of PT FI is in the final stage.          "Yes, we are handling the divestment process that has reached the final stage," Sadikin had informed reporters in Bogor, West Java, on Saturday (Apr 14).    Sadikin did not elaborate on how the divestment process had reached the final stage but only gave an implicit answer. Sadikin did not explain the next steps to be taken nor the process of the final negotiations.          Earlier, Minister of Energy and Mineral Resources Ignasius Jonan noted that no report was received from PT Inalum on results of the negotiations with PT FI over the divestment of 51 percent shares.