Divestment of Freeport Shares Completed
5:08 PM
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President Joko Widodo announced that the process of divesting PT Freeport Indonesia's shares had been completed. As many as 51, 23 percent of the company's shares have now officially become Indonesian property.
"I have just received a report from all relevant ministers. From the director of Inalum and from the CEO and president of PT Freeport McMoRan, it was stated that PT Freeport shares had already switched 51.2 percent to PT Inalum and had paid off," Jokowi said at the State Palace.
President Joko Widodo
Jokowi explained, the majority share ownership will be utilized by the government for the people's prosperity. According to him, with becoming the majority shareholder and changing the contract from the original contract of work into a special mining business permit (IUPK) will provide greater state revenue benefits for the country.
"Later, income, taxes and non-tax revenues, royalties will be bigger and better. I think this is what we are waiting for," said the President.
He also explained, Freeport was committed to completing the construction of smelters in Indonesia. Meanwhile, related to environmental issues, he also claimed to have finished.
"This means that everything is complete and just waiting to work," Jokowi said.
In his statement, Jokowi also underlined the related share ownership for the Papua Province. He explained, Papua Province gets a share of 10 percent of this process. The hope, said Jokowi, was that Papuans could enjoy the proceeds for regional prosperity.
A long journey, being a majority shareholder has been tried by the Government of Indonesia since 2015 ago. End of contract period PT Freeport Indonesia's second generation work in 2021 will be a moment for the government to be able to make PTFI change its contract scheme, which was originally a Contract of Work (KK) to become a Special Permit Business License (IUPK). Freeport does not necessarily want to change its contract from KK to IUPK.
Various methods are carried out to end in negotiations which are considered by the ranks of the Working Cabinet to be an easy matter. The negotiations that lasted for the past two years culminated in four points of agreement agreed upon by Freeport Indonesia and the Indonesian Government. Thus, PTFI can get a definitive IUPK.
The agreement was marked, with the signing of the head of agreement (HoA) July 12, 2018 and the Sales and Puchase Agreement on September 27 yesterday. Through these two stages, the two parties often held meetings to finalize the agreement of the four points.
To be able to become the majority shareholder, the Indonesian Government through PT Indonesia Asahan Aluminum (Inalum) paid 3.85 billion US dollars. This fund was collected by Inalum from the issuance of bonds. Rows of banks such as MUFG from Japan, BNP Paribas from Paris and American City Group became coordinators of underwriters in bond issuance. Meanwhile, CIMB and Maybank from Malaysia, Nikko from Japan, and Standard Chartered from England as underwriter partners.
Even so, the trip was not immediately smooth. The problem is that PTFI still has to solve the problem of environmental damage due to mining activities. Losses worth 1.6 million dollars and environmental damage, especially the tailings issue, were finally agreed upon by the government through the blessing of the Supreme Audit Agency (BPK) through the preparation of long-term plans and payment of fines by Freeport.
The Director General of Mineral and Coal, Ministry of Energy and Mineral Resources, Bambang Gatot Ariyono, condemned, with the completion of negotiations and processes the length of the F rveport share divestment, PT Freeport Indonesia officially obtained a definitive IUPK dated December 21, 2018. This definitive IUPK is valid until 2031 and can be extended to the second 10 years until 2041.
"Today we have completed a long process of change from KK to IUPK, today has been signed, everything has been completed, Just waiting for Inalum in a corporation that continues through the IUPK that we have given," said Bambang at the Ministry of Energy and Mineral Resources.
Bambang explained that in accordance with Government Regulation (PP) Number 23 of 2018 concerning Submission of Extension of IUPK for Mining Businesses, PTFI has the right to apply for development and discussion five years before the contract expires. Therefore, five years before 2041, PTFI could apply for an extension of the IUPK by fulfilling the written requirements of the PP.
"For now, there will be an IUPK while it will be spent first until 2021. Then, then later the definitive IUPK will automatically switch," he said.
Richard Adkerson
This is also a new site for Freeport McMoran. Richard Adkerson as Freeport McMoran's vice chairman explained that this long process was a complicated negotiation. However, with the end of negotiations and the submission of definitive IUPK, it indicates that Freeport's future investment will be more certain.
Share distribution
PT Indonesia Asahan Aluminum's Managing Director (Inalum) Budi Gunadi Sadikin explained, Inalum had made a transaction to pay a share divestment of 51.23 percent to Freeport McMoran and Rio Tinto on Friday (21/12) afternoon.
"All bond funds have been collated on November 15. We have paid everything to Rio Tinto and FCX this afternoon," said Budi, at the Ministry of Energy and Mineral Resources.
Budi explained, Inalum became the majority shareholder in PTFI with a composition of 26.23 percent in the name of Inalum, 25 percent for the name of PT Indonesia Papua Metal and Mineral (IPMM) which is owned by Inalum by 60 percent, and 40 percent belongs to Papua BUMD. Meanwhile, Freeport McMoran holds the remaining 48.76 percent shares from PTFI.
"So, IPMM remains under our control. In total we become the majority," Budi said. In connection with the transfer of shares, Inalum has paid 3.85 billion US dollars to Freeport McMoRan Inc. (FCX) and Rio Tinto to buy part of FCX shares and Rio Tinto's participation rights in PT FI. Accordingly, ownership of Inalum increased from 9.36 percent to 51.23 percent.
The ownership of 51.23 percent will consist of 41.23 percent for Inalum and 10 percent for the Papua Regional Government. Papua Regional Government shares will be managed by a special company PT Indonesia Papua Metal and Mineral (IPMM), which 60 percent of its shares will be owned by Inalum and 40 percent by Papua BUMD.
IN INDONESIAN
Divestasi Saham Freeport Rampung
Presiden Joko Widodo mengumumkan bahwa proses divestasi saham PT Freeport Indonesia telah selesai. Sebanyak 51 ,23 persen saham perusahaan tersebut kini telah resmi menjadi milik Indonesia.
"Saya baru saja menerima laporan dari seluruh menteri terkait. Dari dirut Inalum dan dari CEO dan dirut PT Freeport McMoRan, disampaikan bahwa saham PT Freeport sudah 51,2 persen sudah beralih ke PT Inalum dan sudah lunas dibayar," ujar Jokowi di Istana Negara.
Jokowi menjelaskan, kepemilikan saham mayoritas ini akan dimanfaatkan oleh pemerintah untuk kemakmuran rakyat. Menurut dia, dengan menjadi pemilik saham mayoritas dan perubahan kontrak dari yang semula kontrak karya menjadi izin usaha pertambangan khusus (IUPK) akan memberikan manfaat penerimaan negara yang lebih besar untuk negara.
"Nantinya, income pendapatan, pajak maupun non-pajak, royalti akan lebih besar dan lebih baik. Saya kira ini yang kita tunggu," ujar Presiden.
Ia juga menjelaskan, pihak Freeport berkomitmen menyelesaikan pembangunan smelter di Indonesia. Sementara, terkait persoalan ling-kungan, ia juga mengklaim sudah selesai.
"Artinya, semua sudah komplet dan menunggu bekerja saja," kata Jokowi.
Dalam keterangannya, Jokowi juga menggaris bawahi terkait kepemilikan saham bagi Provinsi Papua. Ia menjelaskan, Provinsi Papua mendapatkan bagian saham sebesar 10 persen dari proses ini. Harapannya, kata Jokowi, warga Papua bisa menikmati hasil itu untuk kemakmuran daerah.
Perjalanan panjang, menjadi pemilik saham mayoritas sudah dicoba oleh Pemerintah Indonesia sejak 2015 silam. Habisnya masa kontrak karya generasi II PT Freeport Indonesia pada 2021 mendatang menjadi momen bagi pemerintah untuk bisa membuat PTFI mengubah skema kontraknya yang semula Kontrak Karya (KK) menjadi Ijin Usaha Pertambaagan Khusus (IUPK). Freeport tidak serta-merta mau mengubah kontraknya dari KK menjadi IUPK.
Berbagai cara dilakukan hingga berujung pada negosiasi yang dianggap oleh para jajaran Kabinet Kerja adalah hal yang tidak mudah. Negosiasi yang berlangsung selama dua tahun belakangan berujung pada empat poin kesepakatan yang disepakati oleh Freeport Indonesia dan Pemerintah Indonesia. Dengan demikian, PTFI bisa mendapatkan IUPK definitif.
Kesepakatan tersebut ditandai, dengan penandatanganan head of agreement (HoA) 12 Juli 2018 dan Sales and Puchase Agreement pada 27 September kemarin. Melalui dua tahap itu, kedua belah pihak sering melakukan pertemuan untuk memfinalisasi kesepakatan dari empat poin tersebut.
Untuk bisa menjadi pemilik saham mayoritas, Pemerintah Indonesia melalui PT Indonesia Asahan Aluminium (Inalum) membayar 3,85 miliar dolar AS. Dana ini dikumpulkan oleh Inalum dari penerbitan obligasi. Deretan perbankan seperti MUFG dari Jepang, BNP Paribas dari Paris dan Citygrup Amerika menjadi koordinator underwriter dalam penerbitan obligasi. Sementara, CIMB dan Maybank dari Malaysia, Nikko dari Jepang, dan Standard Chartered dari Inggris sebagai mitra underwriter.
Meski begitu, perjalanan itu tidak serta-merta mulus. Masalahnya, persoalan kerusakan lingkungan akibat aktivitas pertambangan masih harus diselesaikan oleh PTFI. Kerugian senilai 1,6 juta dolar dan kerusakan lingkungan, khususnya persoalan tailing, akhirnya disepakati oleh pemerintah melalui restu Badan Pemeriksa Keuangan (BPK) melalui penyusunan rencana jangka panjang dan pembayaran denda oleh Freeport.
Direktur Jenderal Mineral dan Batubara, Kementerian ESDM, Bambang Gatot Ariyono, mengutakan, dengan selesainya negosiasi dan proses panjang divestasi saham F rveport, PT Freeport Indonesia resmi mendapatkan IUPK definitif tertanggal 21 Desember 2018. IUPK definitif ini berlaku hingga 2031 mendukung dan bisa diperpanjang 10 tahun kedua hingga 2041.
"Hari ini kita selesaikan proses panjang perubahan dari KK menjadi IUPK, hari ini sudah di tandatangani, semua sudah selesai, Hanya menunggu saja Inalum secara korporasi yang melanjutkan melalui IUPK yang sudah kita berikan," ujar Bambang di Kementerian ESDM.
Bambang menjelaskan sesuai Peraturan Pemerintah (PP) Nomor 23 Tahun 2018 tentang Pengajuan Perpanjangan IUPK bagi Usaha Pertambangan, PTFI berhak untuk mengajukan perpanjangun dan pembahasan lima tahun sebelum kontrak habis. Karena itu, lima tahun sebelum 2041, PTFI bisa mengajukan perpanjangan IUPK dengan memenuhi syarat yang sudah tertulis puda PP tersebut.
"Untuk yang sekarang, kan ada IUPK sementara itu dihabiskan dulu sampai 2021. Lalu, itu nanti IUPK definitif otomatis beralih," kata dia.
Hal tersebut merupakan tapak baru juga bagi Freeport McMoran. Richard Adkerson selaku vice chairman Freeport McMoran menjelaskan, proses panjang ini merupakan perundingan yang rumit. Namun, dengan berakhirnya negosiasi dan penyerahan IUPK definitif, menandakan bahwa investasi Freeport ke depan akan lebih pasti.
Pembagian saham
Direktur Utama PT Indonesia Asahan Aluminium (Inalum) Budi Gunadi Sadikin menjelaskan, pihak Inalum sudah melakukan transaksi untuk membayar divestasi saham sebesar 51,23 persen kepada Freeport McMoran dan Rio Tinto, Jumat (21/12) siang.
"Dana dari bond semua sudah rmsuk tanggal 15 November lalu. Sudah kita bayarkan semua ke Rio Tinto dan FCX tadi siang," kata Budi, di Kementerian ESDM.
Budi menjelaskan, Inalum menjadi pemegang saham mayoritas di PTFI dengan komposisi 26,23 persen atas nama Inalum, 25 persen atas nama PT Indonesia Papua Metal dan Mineral (IPMM) yang di dalamnya merupakan milik Inalum sebesar 60 persen, dan 40 persen milik BUMD Papua. Sementara, Freeport McMoran memegang sisa saham sebesar 48,76 persen dari PTFI.
"Jadi, IPMM tetap berada di atas kendali kami. Secara total kami menjadi mayoritas," ujar Budi. Terkait dengan pengalihan saham, Inalum telah membayar 3,85 miliar dolar AS kepada Freeport McMoRan Inc (FCX) dan Rio Tinto untuk membeli sebagian saham FCX dan hak partisipasi Rio Tinto di PT FI. Dengan demikian, kepemilikan Inalum meningkat dari 9,36 persen menjadi 51,23 persen.
Kepemilikan 51,23 persen itu nantinya akan terdiri dari 41,23 persen untuk Inalum dan 10 persen untuk Pemerintah Daerah Papua. Saham Pemerintah Daerah Papua akan dikelola oleh perusahaan khusus PT Indonesia Papua Metal dan Mineral (IPMM) yang 60 persen sahamnya akan dimiliki oleh Inalum dan 40 persen oleh BUMD Papua.
Republika, Page-1, Saturday, Dec 22, 2018
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