Jakarta: The central government, Papua provincial administration and Mimika regency administration have signed an agremeent on the divestment process of PT Freeport Indonesia.
The signing ceremony was observed by Finance Minister Sri Mulyani Indrawati, Energy and Mineral Resources Minister Ignasius Jonan, Home Affairs Minister Tjahjo Kumolo, Papua Governor Lukas Enembe, Mimika Regent Etinus Omaleng and PT Inalum president director Budi Gunadi Sadikin.
"The Papua provincial administration and Mimika regency administration will get a 10 percent share in the mining corporation," said Finance Minister Sri Mulyani after the signing ceremony on Friday afternoon.
"The process will use business-to-businesss mechanisms without any state budget and regional budget funds," the influential economist added.
The talks between the Indonesian government and Freeport McMoran Inc regarding the divestment issues are still on going until now.