Indonesia's biggest copper and gold miner, PT Freeport Indonesia, is awaiting clarity from the government in relation to a contract extension for its operations at the Grasberg mine in Timika, Papua.
Ramdani Sirait told the Jakarta Post that Freeport Indonesia, whose parent company is US-based Freeport McMoran Copper & Gold Inc, needs assurance from the government regarding its contract extension.
Freeport's current contract, which is its second Contract of Work, was signed in 1991 and is set to expire in 2021.
However, the agreement stipulates there is an option for the mining industry's largest taxpayer to extend its contract until 2041.
Mr Sirait says Freeport Indonesia is planning to invest 17 billion US dollars for the 2012-2041 period, but clarity is needed before any money is spent.
He says Freeport is ready to sit with the government in order to discuss the amendment of the contract.