Wilda Asmarini, Jakarta – Freeport McMoRan must propose a price for a 10.64 percent stake it is required to divest from its Indonesian subsidiary on or by January 12, a mining ministry official said, amid a parliament probe centering around the stake.
"They have 90 days after October 14," Coal and Minerals Director General Bambang Gatot said on Friday, referring to Freeport.
Once it has received the offer from the US copper mining giant, Indonesia will decide within 60 days whether it will buy the stake or offer it to a state-owned enterprise or regional government, Gatot told reporters.