New Management Formulated Immediately
2:27 PM
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PT Inalum (Persero) and Freeport-McMoRan Inc. immediately discussed the new management structure of PT Freeport Indonesia after the share transfer process was complete. Budi Gunadi Sadikin, President Director of PT Indonesia Asahan Aluminum (Persero), the holding company of the mining BUMN, said that the composition of the new management at Freeport Indonesia would be determined jointly with Freeport McMoRan Inc.
"We will choose together later. We will pay attention to the best, so as not to be disturbed because many of the takeover processes are so uneven that production is down, "he said, Friday (9/28).
He said, in the future the management of Freeport Indonesia management will be based on a joint decision between Inalum and the original mining company The United States. Kendtai Inalum holds a majority stake in Freeport Indonesia, which is 51.23%, decision making is not absolutely unilateral and will still involve FCX.
"Actually it is clear from our ownership of shares, only in decision making, we invite [FCX]."
According to him, joint management is important to ensure that mine operations run smoothly. PTFI will immediately shift operations from open-pit mines to more complex underground mines. Freeport Indonesia's ore production will drop in the next 2 years because reserves in open mines will run out.
On Thursday (28/9), Inalum together with FCX and Rio Tinto signed a sales and purchase agreement (SPA) and a shareholder agreement with PT Freeport Indonesia. With this signing, the number of Freeport Indonesia shares owned by Inalum rose from 9.36% to 51.23%.
The Papuan government also gets a 10% stake. This change in share ownership will officially occur after payment transactions worth US $ 3.85 billion are completed. The payment is targeted to be completed in November 2018.
The process of establishing a joint venture between Inalum and the Regional Government of Papua regarding the 10% share acquisition is still being reviewed. Budi said, his party would meet with the regent and the local regional governor to discuss the mechanism of the local government's entry into the 10% share portion.
"We are working with the local government. Can use BUMD that is or use our company's grandchild. I think it's faster already there. "
He said the establishment of the joint venture would be carried out during the settlement transaction for the acquisition of 51% of Freeport shares completed. Budi previously said that in the divestment process 51% of Freeport, Inalum and the Papua Regional Government would form a special company to own 25% of Freeport Indonesia shares. This special company will be owned by Inalum with a share portion of 60% and the Papua Regional Government of 40%. With this step, the total ownership of the Papua Regional Government in PTFI is 10%.
Freeport-McMoRan CEO Richard AdKerson
Meanwhile, Freeport-McMoRan will prioritize the partnership with Inalum in managing mining in Papua. Freeport-McMoRan CEO Richard AdKerson said he had discussed the partnership in managing Freeport Indonesia. According to him, there was an agreement agreed to maintain operational sustainability and stability at Grasberg.
"So this will be a partnership between Inalum and Freeport which each [share ownership] is 51% -49%. I feel that the activities [at Freeport Indonesia] are the most complicated in the world, "he said.
Regarding the company's operations, it has not planned to change management. According to him, it is important for companies to have sustainable operations. The reason is, the mining company is faced with the challenge of focusing on digging from open holes to underground mines that are relatively more technically complicated.
"We formed a partnership with Inalum for PTFI's average management. We continue to operate and ensure that my operations are handled in the right way "
IN INDONESIA
Manajemen Baru Segera Dirumuskan
PT Inalum (Persero) dan Freeport-McMoRan Inc. segera mendiskusikan struktur manajemen baru PT Freeport Indonesia setelah proses pengalihan saham tuntas. Budi Gunadi Sadikin, Direktur Utama PT Indonesia Asahan Aluminium (Persero), induk usaha BUMN pertambangan, mengatakan bahwa komposisi manajemen baru di Freeport Indonesia akan ditentukan bersama dengan Freeport McMoRan Inc.
“Nanti akan kami pilih bersama. Kami akan perhatikan yang terbaik, supaya jangan sampai terganggu karena banyak proses pengambilalihan itu yang begitu tidak mulus malah produksi turun,” katanya, Jumat (28/9).
Dia menuturkan, ke depan pengelolaan manajemen Freeport Indonesia akan didasarkan pada keputusan bersama antara Inalum dan perusahaan tambang asal Amerika Serikat tersebut. Kendtai Inalum memegang saham mayoritas Freeport Indonesia, yaitu sebesar 51,23%, pengambilan keputusan tidak mutlak dilakukan sepihak dan tetap akan melibatkan FCX.
Menurutnya, pengelolaan bersama penting dilakukan untuk memastikan pengoperasian tambang berjalan mulus. PTFI akan segera mengalihkan operasi dari tambang terbuka ke tambang bawah tanah yang Iebih kompleks. Produksi bijih Freeport Indonesia akan turun dalam 2 tahun ke depan karena cadangan di tambang terbuka akan habis.
Pada Kamis (28/9), Inalum bersama FCX dan Rio Tinto melakukan penandatanganan jual beli saham (sales and purchase agreement/SPA) dan perjanjian pemegang saham PT Freeport Indonesia. Dengan penandatanganan ini, jumlah saham Freeport Indonesia yang dimiliki Inalum naik dari 9,36% menjadi 51,23%.
Pemda Papua juga mendapatkan saham 10%. Perubahan kepemilikan saham ini akan resmi terjadi setelah transaksi pembayaran senilai US$ 3,85 miliar kepada FCX tuntas. Pembayaran tersebut ditargetkan tuntas pada November 2018.
Proses pembentukan perusahaan patungan antara Inalum dan Pemerintah Daerah Papua terkait dengan pengambilan saham 10% masih dikaji. Budi menuturkan, pihaknya akan bertemu dengan bupati dan gubernur daerah setempat untuk membahas mekanisme masuknya pemda ke porsi saham 10% tersebut.
“Kami kerja sama dengan pemda. Bisa pakai BUMD yang ada atau pakai cucu perusahaan kami. Saya rasa Iebih cepat yang sudah ada saja.”
Dia mengatakan, pembentukan perusahaan patungan itu akan dilakukan saat transaksi pelunasan biaya akuisisi 51% saham Freeport rampung. Budi sebelumnya menyampaikan bahwa dalam proses divestasi 51% saham Freeport, Inalum dan Pemda Papua akan membentuk perseroan khusus untuk memiliki 25% saham Freeport Indonesia. Perusahaan khusus ini akan dimiliki oleh Inalum dengan porsi saham 60% dan Pemerintah Daerah Papua sebesar 40%. Dengan Iangkah ini, total kepemilikan saham Pemda Papua di PTFI menjadi 10%.
Sementara itu, Freeport-McMoRan akan mengutamakan kemitraan dengan Inalum dalam pengelolaan tambang di Papua. CEO Freeport-McMoRan Richard Adkerson mengatakan, pihaknya telah mendiskusikan soal kemitraan dalam pengelolaan Freeport Indonesia. Menurutnya, sudah ada perjanjian yang disepakati untuk menjaga keberlanjutan dan stabilitas operasional di Grasberg.
“Jadi ini akan menjadi kemitraan antara Inalum dan Freeport yang masing-masing [kepemilikan saham] 51%-49%. Saya merasa bahwa aktivitas [di Freeport Indonesia] merupakan yang paling rumit di dunia,” katanya.
Terkait dengan operasional perusahaan, pihaknya belum berencana mengubah manajemen. Menurutnya, penting bagi perusahaan memiliki kesinambungan operasi. Pasalnya, perusahaan tambang tersebut dihadapkan tantangan untuk fokus menggali dari lubang terbuka ke tambang bawah tanah yang relatif lebih rumit secara teknis.
“Kami membentuk kemitraan dengan Inalum untuk rata kelola PTFI. Kami terus melanjutkan operasi dan memastikan bahwa operasinaya ditangani dengan cara yang benar”.
Bisnis Indonesia, Page-24, Friday, Sept 28, 2018
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