BPJS Ketenagakerjaan might buy Freeport shares

FREEPORT - The Workers Social Security Agency (BPJS Ketenagakerjaan) is considering taking part in a consortium tasked with buying shares of gold and copper miner PT Freeport Indonesia after the miner agreed to divest 51 percent of its shares in exchange for a contract extension for its Grasberg mine in Papua to 2041.

BPJS Ketenagakerjaan president director Agus Susanto said his company would discuss the issue internally before deciding whether it will join a consortium of state-owned enterprises to buy Freeport’s shares.

“Of course we support the government, but to make a decision on investment, we need to carry out an internal study,” Agus said in Jakarta on Tuesday as reported by kompas.com.

Previously, State-Owned Enterprises Minister Rini Soemarno said the government would demand that state-owned aluminum firm PT Indonesia Asahan Alumnium (Inalum) acquire Freeport’s shares, but the government is also considering the option of establishing a consortium to buy the shares.

Currently, the government owns 9.4 percent of Freeport. The company is required to divest another 41.6 percent of its shares to Indonesian entities.