Law Minister to Decide Eligible Party for Newmont Stake

JAKARTA, KOMPAS.com - The ’dispute’ between the finance minister and the House about the party most eligible to purchase shares to be divested by PT Newmont Nusa Tenggara (NNT) is expected to be solved after the law and human rights minister issues a legal opinion.

"We will wait for the legal opinion of the ministry of law and human rights," Energy and Mineral Resources Minister Jero Wacik said here on Wednesday after he had decided to leave the issue to the Law and Human Rights Ministry.

The local government of West Nusa Tenggara (NTB) has been struggling for the right to purchase seven percent of PT NNT shares in the last phase of a mandatory divestment process although Finance Minister Agus Martowardojo wanted the government to buy the stock through the Government Investment Center (PIP).

Earlier, the House of Representatives (DPR)’s Commission XI on financial affairs said it would summon the finance minister about the government’s decision to purchase the seven percent stake in NNT.

"The finance minister will be summoned as soon as possible to cancel the government’s plan to purchase the NNT divestment shares," said Commission XI Deputy Chairman Harry Azhar Azis.

A mining observer even suggested that the government cease its efforts to acquire the NNT stake and sit together with all parties involved to discuss the problem.

"I think all parties involved should sit together to discuss the problem and try to reach a new agreement," Khomaidi, a mining observer, who is also deputy director of the Reforminer Institute, said.

The parties involved are the government, NNT, the Government Investment Center (PIP), the finance ministry, the House of Representatives (DPR), and the State Audit Board (BPK) which audited the process the government had initiated to buy MNT shares. The State Audit Board (BPK) in its opinion said the acquisition process the government had begun called for the use of funds from the state budget.

"The BPK said in its opinion that its audit had shown there was the potential of violations in the government’s plan to fpurchase the MNT shares. So, we will soon summon the minister," Harry said.

He said that there were two points in the opinion of the state audit board that had needed to be heeded by the government.