Jakarta, The Indonesia Post – State Owned Enterprises (BUMN) Minister Erick Thohir stated that the relinquish process (releasing share portion) of Vale Indonesia by Mining Industry BUMN Holding Mind ID must take place.
“Why (must happen)? Freeport is doing it, national companies are doing it. Nor should we, when giving to investors, the assets of this nation are left alone for decades, but when they are good they are processed. Now when the new good nickel is flocking investment. For decades where? What does it mean? I took that position, it was reinquished,” he said at a press conference, Jakarta, Tuesday.
According to him, building trust in foreign investors is important, but specifically for foreign investors who are responsible and have a desire to contribute to the people of Indonesia. That is, investors do not only take licenses, but do not use them.
“Process number two is when there are negotiations, it is reinquished first, then we will negotiate what percentage we have to take,” said Erick.
On this occasion, he said that the divestment of Vale Indonesia shares by Mining Industry SOE Holding Mind ID had not been completed.
“My position is clear, that Vale wants us to be open to ownership. I’m not pushing for 50, maybe 30 percent right away, but what I’m pushing for is relinquish accountability, that of course Vale owns a part of the territory that has always been its right, but the rights of the Indonesian state when the contract expires must also partially return to the state. Freeport did it, national entrepreneurs did it, why not VALE? There should be no exclusivity,” he said. (mhn/bbs)
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