www.thejakartaglobe.com - Indonesia will force foreign firms to sell down stakes in mines by the 10th year of production, with domestic ownership to be at least 51 percent, in a move likely to hurt existing miners and scare off potential investors.
The new rule is the latest government move to extract greater domestic profit from the vast mineral wealth in the world’s top exporter of thermal coal and tin.
The requirement, stated in a regulation on the mining ministry’s website, comes as the government is renegotiating contracts with the leading foreign metals miners in the country, Freeport McMoRan Copper & Gold Inc and Newmont Corp . (source)
Showing posts with label freeport. Show all posts
Showing posts with label freeport. Show all posts
Thursday, March 08, 2012
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