Freeport Indonesia's Payments to the Government Total US$16 Billion

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16/01/2017 16:26 WIB

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Freeport Indonesia's Payments to the Government: 1992-2015

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Freeport Indonesia's Payments to the Government: 1992-2015

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PT Freeport Indonesia (PTFI)'s payments to the Indonesian government from 1992 to 2015 totaled US$16.1 billion. According to a 2016 fact sheet on PTFI's financial contributions, this amount comprised government dividends of US$1.28 billion, royalties of US$1.77 billion, and other taxes and levies of US$13.09 billion. Furthermore, this subsidiary of Freeport McMoRan also provided indirect benefits, including employee salaries, domestic purchases, community development, and others, totaling US$32.5 billion from 1992 to 2015.

PTFI ultimately proposed changing its status from a contract of work to a Special Mining Business License (IUPK). However, in its proposal, Freeport Indonesia requested guarantees of legal and financial certainty for its investments. PTFI requested assurance of a 20-year operational extension until 2041. In addition, PTFI also expressed its willingness to build a smelter as a requirement for exporting mined mineral materials.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Freeport Indonesia's Payments to the Government Total US$16 Billion

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