Putusan arbitrase itu sendiri tidak memenangkan gugatan pemerintah Indonesia yang menginginkan diterminasinya Kontrak Karya PT NNT. Tapi, jika PT NNT tidak segera melaksanakan kewajibannya mendivestasi 17% saham dalam jangka waktu 180 hari ke depan, menurut pengacara Indonesia, KK akan diterminasi dengan sendirinya.
Ini, saya kira, sebuah saat yang penting bagi Indonesia, sekaligus juga memberikan pelajaran penting agar kejadian ini tidak terulang lagi. Walaupun biaya arbitrase dibebankan pada pihak yang kalah [PT NNT] tapi waktu dan sumberdaya lain tersita untuk sebuah masalah yang jika saja pemerintah Indonesia dengan baik dan konsisten melaksanakannya serta memberikan ruang waktu persiapan yang cukup, kejadian ini tidak harus terjadi.
Tentu saja persoalannya tidak berhenti di putusan arbitrase itu. Setelah 17% dapat didivestasikan dengan baik, menunggu 14% lainnya [masing-masing 7% sampai thn 2010]. Uang harus disediakan, pihak nasional mana yang lebih baik diajak, dst. Perlu juga dilihat berapa harga saham yang dilepas oleh PT NNT: apakah wajar? Apakah perlu juga penentuan harga ini dinegosiasikan? [mengingat - pada dasarnya - cadangan mineral harus diperhitungkan sebagai aset negara; belum menjadi aset perusahaan [yang nantinya masuk dalam komponen harga]]
Kemudian: apakah bisa dibuka kemungkinan cara lain dalam divestasi ini?Proses divestasi sekarang terlalu "government-heavy": pemerintah sangat menentukan pihak siapa yang bisa diajak atau uang mana yang mau dipakai. Banyak yang mengira, terutama pihak nasional mana yang memberi "uang talangan" pada pemerintah daerah, adalah alasan kenapa PT NNT enggan melakukan divestasi [walaupun aneh juga, masa PT NNT tidak tahu sedari awal ada aturan kontrak yang mewajibkan divestasi pada masa operasi tambang]. Mungkin, perlu ada sebuah mekanisme - biarpun akhirnya ini masalah bisnis - dimana masyarakat luas bisa memiliki saham PT NNT. Sehingga - terlalu jauh berharap masyarakat Indonesia biasa bisa sampai menentukan kebijakan internal perusahaan - setidaknya akan ada transparansi kegiatan operasi PT NNT.
Berikut beritanya dari platts, tempointeraktif dan mineweb:
Newmont Mining asked to sell 17% stake in Indonesian unit
Jakarta (Platts)--1Apr2009
Indonesia is declaring a win in the arbitration case against the local
unit of US-based Newmont Mining after arbitrators ruled that the copper and
gold miner must divest its 17% stake in Newmont Nusa Tenggara within 180 days
from Tuesday.
"It's final. Indonesia has won the arbitration," Energy and Mines
Minister Purnomo Yusgiantoro said Wednesday.
"If Newmont does not comply with the arbitration's final award, the
government can terminate the company's contract," the government lawyer said.
Under Indonesian law, foreign mining companies have to divest up to 51%
of their shares to local owners after five years of commercial production.
However, in this case, Newmont Nusa Tenggara has to sell only 31% of the
mandatory divestment as the local partner, Pukuafu Indah already owns 20%.
Newmont Nusa Tenggara is currently owned by Newmont Mining Corp. (45%),
Japan's Sumitomo Corp. (35%) and Pukuafu Indah (20%).
Newmont Mining had to divest 3% in 2006, 7% in 2007 and 7% each year
after that till 2010, under the work contract. It was supposed to offer the
shares to the government and if the government did not take up the offer, to
other local buyers.
Newmont Mining offered the 3% stake for $109 million and the next 7% for
$282 million. However, the dispute over the pricing of the shares and
potential buyers appointed by the government led both parties to finally agree
that they would settle their differences through international arbitration in
March 2007.
The 17% that Newmont Mining has been asked to divest comprises the 3%
it should have sold in 2006, the 7% it should have sold in 2007 and the 7% it
should have sold in 2008.
Newmont has been ordered to pay arbitration costs to the government
within 30 days, Yusgiantoro said.
Meanwhile, Newmont Nusa Tenggara has said that it is committed to
divesting its stake under Indonesian mining law and in accordance with the
arbitration ruling.
"We are currently reviewing the decision and look forward to outlining a
path forward with the government to implement the arbitration panel's
decision," said Richard O'Brien, the president and CEO of Newmont Mining
Corp., in a statement issued Wednesday. "We are committed to following the
divestiture process as required under the contract of work and clarified in
the decision."
--Anita Nugraha, newsdesk@platts.com
Pemerintah NTB Sambut Gembira Putusan Arbitrase
TEMPO Interaktif, Mataram: Pemerintah Provinsi Nusa Tenggara Barat akan menerima hak pembelian saham PT Newmont Nusa Tenggara (NNT) sesuai putusan arbitrase. Keputusan itu menetapkan 17 persen saham yang bebas sebagai agunan harus dialihkan kepada pemerintah Indonesia atau pengusaha yang ditunjuk.
Kepala Humas Pemprov NTB Andy Hadianto menyebutkan putusan itu disambut gembira. 'Kami tangkap karena diberikan hak untuk membeli,'' ujarnya sewaktu dikonfirmasi wartawan di kantornya, Rabu (1/4) pagi.
Menurut dia, apabila putusan tertulisnya sudah diperoleh, akan didiskusikan untuk membayar saham tersebut. Pemerintah NTB bisa mencari dananya dengan meminjam sepanjang menguntungkan. ''Tentunya harus ada share yang menguntungkan,'' katanya. Termasuk kemungkinan dananya pinjaman dari PT NNT.
Sesuai kontrak karya PT NNT harus mendivestasikan sahamnya hingga 2010 sebanyak 31 persen. Untuk jatah divestasi 2006 sebanyak tiga persen nilainya US $ 109 juta, 2007 sebanyak tujuh persen nilainya US $ 282 juta dan 2008 sebanyak tujuh persen senilai lebih US $ 400 juta.
Sebenarnya, PT NNT sudah merilis proposal pembiayaan pinjaman jangka panjang bebas risiko kepada Pemerintah Kabupaten Sumbawa Barat (KSB), Pemerintah Propinsi Nusa Tenggara Barat (Pemprop NTB) dan Pemerintah Kabupaten Sumbawa untuk memperoleh saham divestasinya.
Selain itu, pemegang saham asing PT NNT juga menjamin KSB dan Pemprop NTB akan menerima dana yang telah dijamin sebesar US $ 333.333 per tahun untuk setiap satu persen saham yang dimilikinya. Dana ini diperuntukkan peningkatan layanan pemerintah kepada masyarakat antara lain berupa penyediaan sarana pendidikan, fasilitas kesehatan dan infrastruktur.
SUPRIYANTHO KHAFID
NUSA TENGGARA MUST DIVEST 17% OWNERSHIP
Arbitration panel says Indonesian Govt. can't revoke COW covering Newmont's Batu Hijau
The Indonesian Government and Newmont Mining both claim victory in an international arbitration panel ruling concerning the divestiture of part ownership of
the Batu Hijau mine.
Author: Dorothy Kosich
Posted: Wednesday , 01 Apr 2009
RENO, NV -
A Swiss-based international arbitration panel has determined that the Indonesian Government cannot terminate the Contract of Work for PT Newmont Nusa
Tenggara, which operates the Batu Hijau copper-gold mine in Indonesia.
Newmont Nusa Teggara was supposed to reduce its ownership the Nusa Tenggara Mining Corporation from 80% to 49% by the 10th year of operation or 2010.
Provincial and regional governments--who are supposed to acquire shares of Nusa Tenggara Mining--have had a difficult time either acquiring sufficient
capital for the acquisition or may have been clandestinely backed by Indonesian mining companies competing with Newmont.
However, Indonesian officials told reporters Tuesday that the international panel also ordered foreign shareholders in Nusa Tenggara Mining- Newmont and
Sumitomo, which respectively own 45% and 35%--to sell a 17% stake in their joint venture within 180 days.
Indonesian prosecutor Joseph Suwardi Sanda told Reuters that Newmont's unit was ordered to pay $1.8 million to the Indonesian Government in compensation for
the arbitration trial costs.
In a statement, Newmont President and CEO Richard O'Brien said, "We are currently reviewing the decision and look forward to outlining a path forward with
the government to implement the arbitration panel's decision. Until we meet with the government to discuss the path forward, we are not in a position to
comment further on the specifics of the decision, other than to state that the Contract of Work was not terminated and remains in full force and effect and
we are committed to following the divestiture process as clarified in the decision. We appreciate the government's willingness to resolve through arbitration
our apparent misinterpretation of the divestiture provisions in the Contract of Work."
Nonetheless, a lawyer for the Indonesian Government told reports that if Newmont does not comply with the arbitration ruling, "we can terminate. That is very clear."
Previously, Newmont has questioned the sources of funds backing regencies and other local governments in buying shares of PT Newmont Nusa Tenggara. Among
those suspected to be financially supporting local government bids is coal miner PT Bumi Resources, a subsidiary of the Bakrie Group, considered to be one of Indonesia's more controversial business families.
Reuters reports that, "Despite a long history of foreign involvement in the economy, some firms have run into trouble in Indonesia, with the situation often made worse by red tape, graft and a weak legal system."
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