Indonesia Govt Says No Interest to Buy Freeport Stake-Shanghai Metals Market

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Indonesia Govt Says No Interest to Buy Freeport Stake

Industry News 09:53:40AM Jul 27, 2012 Source:SMM

JAKARTA, July 26 (Reuters) - Indonesia's central government has no interest in buying a 9.36 percent stake offered by Freeport-McMoRan Copper & Gold Inc in its local unit, the finance minister said on Thursday.

"I do not see the need to buy the stake, but we fully support the stake being owned by the public," said Finance Minister Agus Martowardojo.

Freeport Indonesia said this week it has offered the government a further 9.36 percent stake in its local subsidiary, and that the central government had offered it to the regional administration in Papua where it runs runs the world's second biggest copper mine. An IPO was another option, Freeport said.

 

Indonesia Govt Says No Interest to Buy Freeport Stake

Industry News 09:53:40AM Jul 27, 2012 Source:SMM

JAKARTA, July 26 (Reuters) - Indonesia's central government has no interest in buying a 9.36 percent stake offered by Freeport-McMoRan Copper & Gold Inc in its local unit, the finance minister said on Thursday.

"I do not see the need to buy the stake, but we fully support the stake being owned by the public," said Finance Minister Agus Martowardojo.

Freeport Indonesia said this week it has offered the government a further 9.36 percent stake in its local subsidiary, and that the central government had offered it to the regional administration in Papua where it runs runs the world's second biggest copper mine. An IPO was another option, Freeport said.