Indonesia estimates the value of a 10.64 percent stake in the local unit of miner Freeport McMoRan Inc at about $630 million and has asked the U.S.-based parent to revise its offer, a mining ministry spokesman said on Tuesday.
“Based on the replacement value the government calculates [the stake] to be worth around $630 million,” ministry spokesman Sudjatmiko told Reuters.
“We have asked Freeport to revise their offer. Once we reach an agreement on price we can make a timeline,” he added.
(Reporting by Fergus Jensen; Editing by Christian Schmollinger)
Read more from original source: http://www.reuters.com/article