Govt will not provide funds for Papua to buy Freeport shares
Friday, December 17 2004 - 02:17 AM WIB
The central government will not give any financial assistance to the Papua province in its attempt to buy a stake in gold and copper producer PT Freeport Indonesia.
Coordinating Minister for the Economy Aburizal Bakrie was quoted by Koran Tempo daily as saying on Thursday that the provincial administration must seek their own funds.
Papua has expressed interest to purchase a 9.36 percent stake in Freeport Indonesia. The shares, valued at around US$700 million, belongs to PT Indocopper Investama.(*)