METALS PEOPLE - Head of Freeport's Indonesia unit resigns - reports

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Vivian Teovivian.teo@fastmarkets.comJoint News Editor - Asia

Singapore 19/01/2016 - Maroef Sjamsoeddin, the president director of PT Freeport Indonesia – the Indonesian operations of Freeport-McMoRan – has resigned on Monday, according to several media reports on the same day.

The reports mostly cited Riza Pratama, a company spokesman, as confirming the resignation.

The Jakarta Post said Maroef in a memorandum sent to Freeport Indonesia employees on Monday, explained that his resignation was because his employment contract had expired.

Although Freeport-McMoran had offered him a contract extension, Maroef has decided not to remain with the company, said the Indonesian paper.

Before serving as Freeport Indonesia president director, Maroef was the deputy head of Indonesia's State Intelligence Agency during 2011-2014, the paper said.

Maroef was involved in controversy last year when he secretly recorded a conversation with former Indonesian parliament speaker Setya Novanto in which the lawmaker appeared to ask Maroef for shares of the company in exchange for approving Freeport’s mining permit extension. The politician has denied any wrongdoing and has since resigned from his post.

Just last month, Freeport-McMoRan’s co-founder James Moffett had stepped down as chairman of the board.

Calls to PT Freeport Indonesia by Fastmarkets went unanswered.



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