Newmont Must Divest Shares Purchase Postponed

JAKARTA - Purchase seven percent of the remaining shares of divestment of PT Newmont Nusa Tenggara (NNT) by the Ministry of Finance through the Central Government Investment (PIP) should be postponed.
The whole local authorities in relation to the purchase of those shares, should sit down together so chaotic clash of ideas related to the legitimacy of the transaction can be completed.

"All parties should sit together, both parties Newmont, PIP, Ministry of Finance, the House of Representatives, as well as CPC (BPK) as an independent party to audit the process of buying stocks," said mining analyst Komaidi, in Jakarta, Tuesday (25/10 ).

Komaidi who also served as Deputy Executive Director of the Institute ReforMiner stated, the entire process of buying stocks that divestment should be clean and clear, so close the gap for the possibility of a breach or a protracted lawsuit in the future. source

The statement was related Komaidi CPC opinion stating that the divestment of the remaining stock purchase transaction was proven using state budget funds. BPK audit was submitted to Parliament last Friday (21/10).

Earlier, Vice Chairman of the House of Representatives Commission XI, Harry Azhar Azis emphasized, the audit CPC prove a violation in the process of divestment of the remaining shares of Newmont takeover by the Ministry of Finance. Therefore, in the near future the Commission will call the XI Finance Minister Agus Martowardojo to cancel the process. Except, if the new finance minister submitted a proposal to seek approval from Parliament, because the consideration of purchase of shares of Newmont's use of state funds that must be approved by Parliament.

On the other hand, member of House Commission VII in charge of mining and energy issues, Satya W Yudha suggested, should the audit results were immediately communicated to the House leaders and acted upon by the relevant commission.

"If the position of Commission VII and XI are clear. We've held a joint meeting and confirmed that the purchase violates the PIP divestment by the State Finance Law and the Law on State Treasury, "said Satya.

Furthermore Komaidi say, delay the purchase of shares of Newmont's continuing process of this is tantamount to position the issue as the status quo. That way, intensive discussion and deliberation by the parties are expected to successfully complete the polemic.

According Komaidi, CPC is a neutral position, if the audit states use state funds could potentially violate the Act, CPC should also be included in discussions with the parties concerned the purchase of shares of the divestment process.

"If necessary, the House also may hold a hearing with legal experts in order to get input on economic disputes purchase this divestment," said Komaidi.