Cempaka Business and Economy: Freeport to Pay Higher Royalties After Months of Contract Talks

"A Summary" – Apr 2, 2011 (Kryon channelled by Lee Carroll) (Subjects: Religion, Shift of Human Consciousness, 2012, Intelligent/Benevolent Design, EU, South America, 5 Currencies, Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Middle East, Internet, Israel, Dictators, Palestine, US, Japan (Quake/Tsunami Disasters , People, Society ...), Nuclear Power Revealed, Hydro Power, Geothermal Power, Moon, Financial Institutes (Recession, Realign integrity values ..) , China, North Korea, Global Unity,..... etc.) - (Text version)

"The Timing of the Great Shift" – Mar 21, 2009 (Kryon channelled by Lee Carroll) - (Text version)

“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.
They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."

"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)

"The Recalibration of Awareness – Apr 20/21, 2012 (Kryon channeled by Lee Carroll) (Subjects: Old Energy, Recalibration Lectures, God / Creator, Religions/Spiritual systems (Catholic Church, Priests/Nun’s, Worship, John Paul Pope, Women in the Church otherwise church will go, Current Pope won’t do it), Middle East, Jews, Governments will change (Internet, Media, Democracies, Dictators, North Korea, Nations voted at once), Integrity (Businesses, Tobacco Companies, Bankers/ Financial Institutes, Pharmaceutical company to collapse), Illuminati (Started in Greece, with Shipping, Financial markets, Stock markets, Pharmaceutical money (fund to build Africa, to develop)), Shift of Human Consciousness, (Old) Souls, Women, Masters to/already come back, Global Unity.... etc.) - (Text version)

“… The Shift in Human Nature

You're starting to see integrity change. Awareness recalibrates integrity, and the Human Being who would sit there and take advantage of another Human Being in an old energy would never do it in a new energy. The reason? It will become intuitive, so this is a shift in Human Nature as well, for in the past you have assumed that people take advantage of people first and integrity comes later. That's just ordinary Human nature.

In the past, Human nature expressed within governments worked like this: If you were stronger than the other one, you simply conquered them. If you were strong, it was an invitation to conquer. If you were weak, it was an invitation to be conquered. No one even thought about it. It was the way of things. The bigger you could have your armies, the better they would do when you sent them out to conquer. That's not how you think today. Did you notice?

Any country that thinks this way today will not survive, for humanity has discovered that the world goes far better by putting things together instead of tearing them apart. The new energy puts the weak and strong together in ways that make sense and that have integrity. Take a look at what happened to some of the businesses in this great land (USA). Up to 30 years ago, when you started realizing some of them didn't have integrity, you eliminated them. What happened to the tobacco companies when you realized they were knowingly addicting your children? Today, they still sell their products to less-aware countries, but that will also change.

What did you do a few years ago when you realized that your bankers were actually selling you homes that they knew you couldn't pay for later? They were walking away, smiling greedily, not thinking about the heartbreak that was to follow when a life's dream would be lost. Dear American, you are in a recession. However, this is like when you prune a tree and cut back the branches. When the tree grows back, you've got control and the branches will grow bigger and stronger than they were before, without the greed factor. Then, if you don't like the way it grows back, you'll prune it again! I tell you this because awareness is now in control of big money. It's right before your eyes, what you're doing. But fear often rules. …”

Monday, July 23, 2012

Freeport to Pay Higher Royalties After Months of Contract Talks

Jakarta Globe, Tito Summa Siahaan, July 23, 2012

This 2009 file photo shows local parliament members walking inside a tunnel
of the Freeport mining company. After months of negotiations, Freeport Indonesia
has agreed to raise its royalty payment to the government, according to a statement
from Coordinating Minister for the Economy Hatta Rajasa. (AFP Photo/
HUSYEN OPA)

Related articles

Freeport Indonesia has agreed to raise its royalty payment to the government, according to a statement from a top economic minister on Monday.

The announcement represents progress in the government’s protracted renegotiations with Freeport Indonesia, a subsidiary of US based mining giant Freeport-McMoran Copper & Gold, who was one of the first foreign companies to invest in Suharto’s New Order Regime in the 1960’s.

Freeport operates the world’s biggest gold and second-biggest copper mine in the restive province of Papua.

“[Freeport] is willing to increase the royalty,” said Coordinating Minister for the Economy Hatta Rajasa. He did not, however, specify the percentage increase.

In February, the government created a team to renegotiate older mining contracts that generally asked for smaller royalties. And in March, Indonesian authorities announced a new law cutting maximum foreign ownership in mining companies from 80 percent to less than half.

Both actions were a bid to keep a larger portion of revenues from the country’s vast natural resources, and increase the participation of local entities in the mining sector.

At present, Freeport pays a 1 percent royalty to the government on its total gross sales of gold.

A 2003 government regulation requires mining companies to pay a royalty of 4 percent for copper exports, 3.25 percent for silver, and 3.75 percent for gold. But Freeport’s contract was established before 2003, and the Indonesian legal system does not recognize the principle of retroactivity.

Terms agreed to in contracts signed before the 2003 law, in other words, take precedent.

“Now, [the royalty] is only at 1 percent, it is very small,’’ Hatta said in February.

Royalties have been just one issue on the negotiating table, however. Government revenue, requirements for miners to process raw materials in Indonesia and divest a stake to local owners, the size of mining concession areas and the use of local content in operations have also been up for discussion.

On these matters, Hatta said Freeport was willing to build a smelter to comply with the government requirement to process ore minerals locally. He also said the mining giant was willing to give up some of its land due to a reevaluation of its mining concession area and increase the participation of the local government and regional companies.

Hatta, who is chairman of the National Mandate Party (PAN), a close ally to President Susilo Yudhoyono’s Democratic Party, also said Freeport-McMoran had agreed to sell part of their interest in their Indonesian operation.

“[Freeport Indonesia] agreed to divest a stake, but there’s no agreement on the 51 percent that we requested,” Hatta Rajasa told reporters on Monday.

Details on other terms of the IPO, including the time frame, have not been shared.

Freeport Indonesia’s president director, Rozik B. Soetjipto, had said early this month that the miner was willing to increase its royalty, but asked the government to reduce the amount it must pay in corporate income tax.

Indonesian companies typically pay a 25 percent income tax, while Freeport pays 35 percent.

Additional reporting by Agence France-Presse

Related Article:

Freeport Indonesia Agrees to Partial IPO: Minister

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Monday, July 23, 2012

Freeport to Pay Higher Royalties After Months of Contract Talks

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