REPUBLIKA.CO.ID, JAKARTA -- PT Freeport Indonesia should offer its shares to the government in 14 October 2015. However, it seemed that the US-based company failed to divest its shares.

VP Corporate Communication of PT Freeport Indonesia, Riza Pratama, said the corporate preferred to wait for the revision of Regulation no.77 of 2014, instead of taking steps to divestment. The reason the delay of divestment was because Freeport waited for a strong legal basis when doing stock offerings.

"No (divestment). Freeport is still waiting for revision of the regulation," Riza said, Wednesday (14/10).

Meanwhile, for the stock release mechanism, Riza stated that Freeport preferred IPO mechanisms or Initial Public Offering because its value was more accountable.

Based on Government Regulation No. 77 of 2014, about Third Amendment to Government Regulation No. 23 of 2010 on the Implementation of Business Activities of Mineral and Coal, then Freeport is obliged to release 30 percent of its shares to the government. The reason was the company operates an Underground Mining.

Current conditions, the Government only has 9.36 percent of shares in Freeport. Thus, there is still 20.64 percent more to be released.

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