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Hot Isue
07-07-2017
China's Zijin Mining Group Company Limited ready to take over Freeport Indonesia?
Author : Hendrajit, Geopolitical analyst of the Global Future Institute (GFI)

Speculations circulated in recent months about the possibility of a Chinese company taking over the ownership of PT Freeport Indonesia from the Freeport McMoran United States, seem more reasonable. Some time ago, Freport McMoran sold its majority stake in the Tenke Fungurume bronze mine in the Democratic Republic of Congo to Chinese Molybdenum amounted to USD 2.65 billion (about Rp35.35 trillion).


In addition, Barrick Gold owned by Aaron Regent that also the right-hand man of Li Khai Shing and a mining company in Tenke Fungurume in the Democratic Republic of Congo by Chinese Molybdenum, has also bought Freeport's shareholding opertaing in Chile.
 
So media reports that a Chinese consortium will buy PT Freeport Indonesia's shareholdings is becoming more and more trustworthy, and should not be taken lightly.
 
In February 2017, the Pro-Democracy Network was concerned about the possibility of Freeport Indonesia taken over by a Chinese company. In terms of concerns about the Pro-democracy Network if China succeeds in seizing Freeport's shareholding, China will likely bring its workers to fill the entire Freeport management structure at all levels, from upper to lower-level management.
 
Unfortunately, amid the rampant mass media rolling out the issue of the possibility of China to take over Freeport Indonesia, it has not been revealed a Chinese company willing to buy majority stake of Freeport Indonesia.
 
According to information gathered by the Global Future Institute research team, there is a Chinese mining company that is currently seriously preparing for a takeover of Freeport Indonesia's majority stake currently controlled by Freeport McMoran. The Chinese company is Zijin Mining Group Company Limited. How serious the Chinese mining company intends to acquire a majority stake in Freeport Indonesia, till now there has been no clarity.
 
What is clear is that Freeport makes a huge profit from mining in Indonesia, especially Papua. The Chinese economic intelligence apparatus must know that Indonesian mining is a gold mine for Freeport. How Indonesia has contributed 93.6% of Freeport gold sales over the years. In other words, Indonesia is the largest gold mine for Freeport McMoRan
 
Mining in Indonesia has contributed some 29 billion lbs (28%) of the total copper reserves of Freeport's total of 103.5 billion lbs worldwide. However, Indonesia contributed Au 28.2 million ozs or reached 98.9% of the worldwide Freeport gold reserves amounted to Au 28.5 million ozs.
 
In other words, Indonesian mining is indeed a gold mine for Freeport. Apparently, these facts have already been analyzed and taken into account by Zijin Mining Group Company Limited that the Chinese company, which, of course, also with the approval and support of the Chinese Consortium, is indeed seriously taking over Freeport Indonesia from the hands of Freeport McMoran of the United States.



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Author : Hendrajit, Dkk
Japanese Militarism : Japan, Between Love And Resentment

A book entitled Japanese Militarism and Its War Crimes in Asia Pacific Region (Hendrajit, ed) was recently sent to me, by the publisher, The Global Future Institute. No doubt, this book made me re-think and recollect my trip to Japan in 1996. At that time, I was warmly received by Japanese families who became my host, invited to travel to various places, and bought souvenirs. The psycological effect of my short visit is that it is hard to imagine that the Japanese people were cruel ones, perpetrators of the massacre of our ancestors, raping Indonesian girls, making them as prostitutes and enslaving our grandfathers to work on various projects.

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