Ahad 30 Mar 2014 16:41 WIB

Freeport blames gold sales as reason for not paying its dividend

Rep: Aldian Wahyu Ramadhan/Mutia Ramadhani/ Red: Yeyen Rostiyani
In this photo taken and released by PT Freeport Indonesia, on May 17, 2013, the Indonesian unit of Arizona-based Freeport-McMoRan Copper & Gold Inc, rescuers gather inside a tunnel that collapsed in May.
Foto: AP/PT Freeport Indonesia
In this photo taken and released by PT Freeport Indonesia, on May 17, 2013, the Indonesian unit of Arizona-based Freeport-McMoRan Copper & Gold Inc, rescuers gather inside a tunnel that collapsed in May.

REPUBLIKA.CO.ID, JAKARTA - PT Freeport Indonesia (PTFI) blames poor gold and copper sales as its reason after the giant mining company does not pay its dividend to Indonesian government. The company also said some disruptions occuring on its mining operation and lower price in global market as other reasons. 

In a recent written statement, Vice President Corporate Communication Daisy Primayanti said that dividend payment depended on decision made by the company's board of directors, and approved by board of commissioners and shareholders including Indonesian government. Then they also considered the company's financial performance and its cash flow. 

Currently the cash flow are used to maintain the company's production at current level volume. The company does not pay dividend of its all stakeholder including Indonesian government for 2013. Yet, Primayanti argued that Freeport had paid 500 million USD in taxes and royalties to Indonesian government.

 

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