Wednesday, April 16, 2014

MoF call Freeport record profit last year

Ministry of Finance asked the Ministry of State Owned Enterprises ( SOEs ) Dahlan Iskan leaders to continue to collect dividends are not paid during the two years of PT Freeport . In fact , financial condition based mining company has recorded no loss .

" KemenBUMN should seek to charge more because there should be a return of capital by the government. Freeport fortunately my knowledge , " said Deputy Finance Minister , Bambang Brodjonegoro , through a text message to reporters , Jakarta , Wednesday ( 16/4 ) .
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In the statement of financial performance Freeport McMoran Copper & Gold ( FCX ) last year , recorded sales volume of gold and copper mine in Indonesia has increased . The increase was recorded at 6.2 percent , or to $ 4.34 billion over the same period the previous year ie EUR 4.09 billion .

Freeport recorded sales of copper rose to USD 2.9 billion from USD 2.56 billion in 2012 . Meanwhile , copper sales volumes also rose to 885 million pounds .

But it is Freeport's gold sales fell slightly last year despite rising sales volume . Last year the company grossed only U.S. $ 1.44 billion from the sale of 1.096 million ounces of gold .

Previously , Vice President of Corporate Communications Freeport Indonesia Primayanti Daisy , in a press release received , Saturday ( 28/3 ) , states do not pay dividends PT Freeport Indonesia to all shareholders , including to the parent company and the government of Indonesia , is caused by several factors . Among other things , copper and gold sales volumes decreased due to lower ore grades , mining operations disruption , decline in global commodity prices .

Then , the use of cash flow for an investment of approximately USD 1 billion to support the development of an underground mine in 2017 . 's Underground mine will become the foundation of Freeport mining activities .

" Underground mine project will cost a significant investment of about USD 15 billion over the remaining life of the mine . Besides cash flow is also used to maintain the sustainability of the current level of poduksi . "

Daisy explained , PTFI dividend payments based on the financial performance and cash availability . Amount is determined by the board of directors and approved by the board of commissioners and shareholders .

" In this case also the Government of the Republic of Indonesia , represented by the Ministry of Enterprise , " he said .

As for the company's financial condition is influenced by changes in global commodity prices , operating performance and interference mining operations . Then , the cash needs to run mining operations , the investment of resources to develop and ensure future production .

SOE Minister Dahlan Iskan call Freeport has not put up the last two years dividends . Every year , Freeport supposed to deposit dividend of Rp 1.5 trillion .


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