Freeport pays obligation of US$952 million in H1

Copper and gold miner PT Freeport has paid its financial obligation amounting to US$952 million to the government of for the period of January to June, 2007, Bisnis reported Thursday.

 

PT Freeport ’s corporate communication manager Mindo Pangaribuan said in Jakarta Wednesday that the payment of the financial obligation referred to the contract of work signed in 1991.

 

According to Mindo, out of the $952 million, $696 million was submitted in income tax, employee income tax, regional tax and other kinds of tax, $92 million in royalty and $164 million in dividends.

 

Mindo disclosed that the total obligation paid by Freeport to the government starting from 1991 up to June 2007 reached US$6 billion, including $4.8 in taxes, $659 million in royalty and $601 million in dividends.

 

Mindo declined to give details regarding the royalty that the company has paid to the government. The royalty on mineral should be seen as a whole that covers gold, silver and copper, he said. (*)