Final decision on KPC divestment to be made April 5: minister
Thursday, March 22 2001 - 04:30 AM WIB
The final decision on the divestment program of East Kalimantan coal mining giant PT Kaltim Prima Coal (KPC) will be decided by Minister of Energy and Mineral Resources Purnomo Yusgiantoro on April 5, according to Speaker of East Kalimantan parliament Sukardi Djarwoputro.
"A decision will be made on April 5," Sukardi told the local Kaltim Post daily following a closed door meeting with KPC and the minister on Wednesday in Jakarta.
Both KPC and the East Kalimantan administration, represented by Governor Suwarna AF, made presentation in the front of the minister.
The divestment program of KPC has been dragging on for around two years.
During the meeting, KPC insisted that it was only required to divest 37 shares this year according to its mining contract with the government. But the East Kalimantan administration also insisted that KPC must divest up to 51 percent stake.(*)