Govt seeks higher dividend from Freeport

The government will seek higher dividend from the gold and copper producer PT Freeport Indonesia for the years 2002 and 2003, the Koran Tempo newspaper reported in its Thursday edition.

Deputy to the state minister for state enterprises Roes Aryawijaya said that the government?s demand is based on the fact that the financial position of the Freeport has improved a lot.

?The consideration is based on the fact that if the financial position of the Freeport is good. We will ask the company to increase the dividend,? Roes told the Koran Tempo and the Bisnis Indonesia in Jakarta on Wednesday.

But he declined to mention how much percentage of the dividend is government asking. According to a source, the government may ask 15 to 30 percent of the Freeport?s profit as dividend. The company will be holding its annual shareholders? general meeting next month.

The government has 9.36 percent stake in the PT Freeport. (*)