became the third largest
Posted by teknologi2 on July 27, 2010
PT Freeport Indonesia became the third largest contributor of dividends to the government of Indonesia. Payment of dividends given Freeport reached Rp2, 08 trillion.
It was revealed from the Audit Results Audit Agency (BPK), the Central Government Financial Report (LKPP) in 2009 has just been released, July 27, 2010 by the Ministry of Finance.
According to the audit report, Freeport in the third position, after PT Pertamina and PT Telkom Tbk. Dividends paid Pertamina reach Rp10, 47 trillion, or 40 percent of the total SOE dividends. Meanwhile, Telkom deposit Rp3, 3 trillion, or 12.8 percent.
Freeport, which is not a pure state enterprises, to contribute 8 percent of the total dividends received from the government. Thus, Freeport entered the ranks of 10 state-owned purveyor to the state’s largest dividend.
Freeport has a different position with other SOEs, which is majority owned by the Indonesian government. To most state enterprises, the government set a certain ratio (payout ratio) paid dividends to the government on SOE earnings so there is still a part of the profits for investment and business development.
As for Freeport, the government is a minority shareholder, which only amounted to 9.36 percent. Meanwhile, about 90 per cent stake in Freeport owned Freeport McMoRan.
Earlier this year the government had raised the discourse to add shares in Freeport, but it is not clear what was coming.
With the assumption of nearly ten per cent of government shares with the dividends of Rp2 trillion, then there is the possibility of taking profit Freeport Rp20 trillion in 2009 of land along Papua.
During this time, PT Freeport Indonesia is affiliated from Freeport-McMoRan Copper & Gold Inc. has been doing mining of ore containing copper, gold and silver. Operating in highland regions in Mimika.
Grasberg mining complex is one of the single copper and gold producer in the world’s largest, and contains copper reserves that can be taken of the largest in the world, besides the single largest gold reserve in the world.
Grasberg is in the heart of a region which is very abundant mineral, where ongoing exploration continues to increase opportunities for long-lived reserves.