Saturday, September 6, 2025
No Result
View All Result
Indonesia Sentinel
  • Home
  • News
  • World
  • Economic
  • Culture
  • Tech & Science
  • Home
  • News
  • World
  • Economic
  • Culture
  • Tech & Science
No Result
View All Result
Indonesia Sentinel
No Result
View All Result
ADVERTISEMENT
Home Economic

Indonesian Government Should Control Majority of Vale Indonesia Shares

by Becky
2023-05-24
in Economic, News
A A
Share on FacebookShare on TwitterShare on Whatsapp
ADVERTISEMENT

Jakarta – Member of Commission VI DPR RI from the Gerindra faction Andre Rosiade revealed the importance of divesting foreign mining companies, for the independence and sovereignty of mineral and coal mining in Indonesia.

Andre said, divestment is a mandate from Law Number 3 of 2020 which stipulates that foreign mining companies in Indonesia are required to reduce share ownership by 51 percent to be transferred to the state. He believes that the sovereignty of mining products is an important point to multiply state revenues.

“It is time for the wealth of this country to be managed and utilized as much as possible for the prosperity of the Indonesian Nation, as well as for mineral wealth. So it is time through BUMN Holding Mining we can realize this ideal,” Andre said in his official statement, Wednesday (5/24/2023).

RelatedPosts

Indonesia Seizes Rp112 Billion worth of Illegal Secondhand Clothing Imports in Bandung

25 Hikers Evacuated at Mount Penanggungan While Celebrating Indonesian Independence Day

“These ideals can be realized through the presence of various Smelter Projects which are being focused on and accelerated, so that the selling value of these mineral products can double through the Downstream program,” he said.

ADVERTISEMENT

Furthermore, Andre assessed the importance of Indonesia adding shares in PT Vale Indonesia (PTVI) which is not only used as an interest for Vale Indonesia to extend its contract from a Contract of Work (KK) to a Special Mining Business License (IUPK).

However, it must be based on the interests of the future of the Indonesian nation as well as the sustainability of mining in Indonesia. So that the addition of 11 percent, 14 percent is not enough to make Indonesia through the BUMN Mining Holding, MIND ID can have controlling control over the foreign mining company.

Furthermore, Andre views that the DPR and the government should encourage SOEs through MIND ID to become majority shareholders as well as controlling shares with a minimum ownership of 40 percent, or even up to 51 percent.

The next important point that needs to be considered is financial consolidation. Andre said this needs to be done so that all assets in the Vale Indonesia area can be recorded as assets of the Indonesian Government after MIND ID becomes the controlling shareholder of Vale Indonesia.

“Regarding the addition of share ownership in PT Vale Indonesia, MIND ID, which currently has 20 percent and will add 11 percent, does not have a maximum impact on BUMN contributions to Indonesia. Because MIND ID as an extension of the State does not have full power, because it is not yet a majority shareholder,” added Andre.

“Apart from being the majority shareholder in PT Vale Indonesia, MIND ID also needs to monitor the running of the company both from a financial perspective, such as the need for consolidation. But not only that, the absorption of local labor, the welfare of the surrounding community, as well as the handling of waste and environmental damage also need to be a concern and need to be improved,” he said. (InfoPublik.id/foto: Kontan)

Tags: Andre RosiadeVale Indonesia
ADVERTISEMENT

Related Posts

Indonesia Protests

Indonesia Responding the U.N Human Rights Office Calls, Vows Transparent Probe Into Protests Rights Violations

2025-09-05

Jakarta, Indonesia Sentinel -- Indonesia Foreign Ministry said investigations into alleged violations during recent protests will be carried out transparently,...

Investor Indonesia

Airlangga Reassure Investors, Says Ongoing Protests Won’t Affect Indonesia Long-Term Economy

2025-09-03

Jakarta, Indonesia Sentinel -- Indonesia's Coordinating Minister for Economic Affairs Airlangga Hartarto said that a wave of demonstrations across the...

Halim Sanusi University Rector

Ir. Setiadi Yazid Appointed as Rector of Halim Sanusi University Bandung

2025-09-02

Jakarta, Indonesia Sentinel -- Halim Sanusi University (UHS) in Bandung has officially reappointed Ir. Setiadi Yazid, M.Sc., Ph.D., as rector...

Lembang Fault

West Java’s Lembang Fault Activity Rises, Scientists Warn of Potential Magnitude 7 Earthquake

2025-08-27

Bandung, Indonesia Sentinel -- Indonesia’s National Research and Innovation Agency (BRIN) has warned that the Lembang Fault in West Java...

Indonesia Launches New Mineral Industry Agency to Oversee Rare Earth Resources

Indonesia Launches New Mineral Industry Agency to Oversee Rare Earth Resources

2025-08-27

Jakarta, Indonesia Sentinel -- President Prabowo Subianto inaugurated the country’s newly established Mineral Industry Agency, a body tasked with managing...

Textile sector mass layoffs

Anti-Dumping Duty Could Trigger Mass Layoffs in Indonesia’s Textile Sector, 40 Thousands at Risks

2025-08-25

Jakarta, Indonesia Sentinel -- Indonesia’s Ministry of Industry has warned of potential mass layoffs in the country’s textile sector, saying...

Measles Outbreak Sumenep

Measles Outbreak Hits Sumenep, Over 2,000 Infected and 17 Children Dead

2025-08-25

Jakarta, Indonesia Sentinel -- A measles outbreak has hit Sumenep Regency in Madura, East Java, prompting the provincial government to...

Illegal Secondhand Clothing Imports

Indonesia Seizes Rp112 Billion worth of Illegal Secondhand Clothing Imports in Bandung

2025-08-21

Jakarta, Indonesia Sentinel -- Indonesia’s Trade Ministry has seized thousands of bales of illegal secondhand clothing imports worth Rp112 billion...

Benchmark Interest Rate

Bank Indonesia Cuts the Benchmark Interest Rate to 5%

2025-08-21

Jakarta, Indonesia Sentinel -- Bank Indonesia (BI) has decided to further lowering its benchmark interest rate or BI Rate by...

QRIS Japan

QRIS Digital Payment System Officially Available in Japan, Indonesia Eyes China Next

2025-08-19

Jakarta, Indonesia Sentinel -- Bank Indonesia (BI) has officially announced that its Quick Response Code Indonesian Standard (QRIS) can now...

Load More
Next Post
Chemical Industry Plays an Important Role in National Development

Chemical Industry Plays an Important Role in National Development

Popular

  • yandex

    How to Watch Viral Video on Yandex: What You Need to Know

    0 shares
    Share 0 Tweet 0
  • The Joyoboyo Prophecy: Historical Roots and Modern Resonance in Indonesian Society

    0 shares
    Share 0 Tweet 0
  • 15 Indonesian Provinces Lead in Sex Worker Locations, West Java Ranks First!

    0 shares
    Share 0 Tweet 0
  • Suku Mante, Mysterious Tribe Living in the Vast Forests of Aceh

    0 shares
    Share 0 Tweet 0
  • One Piece Pirate Flag Rises Across Indonesia Ahead the Independence Day

    0 shares
    Share 0 Tweet 0

Recommended

PT Freeport

Jokowi Pushes Bahlil for Swift Resolution on PT Freeport Indonesia’s Share Divestment

12 months ago
Trump Cabinet

Trump Unconventional Picks Cabinet, From Fox News Host to Elon Musk

10 months ago
ADVERTISEMENT

Indonesiasentinel.com is an independent online news portal committed to providing accurate, in-depth, and up-to-date news about Indonesia. Since 2021, we have been a trusted source for millions of readers seeking relevant and reliable news.

Part of:

Information Page

  • About
  • Editorial
  • Privacy Policy
  • Disclaimer
  • About
  • Editorial
  • Privacy Policy
  • Disclaimer

Contact

  • contact@indonesiasentinel.com
© 2021 Indonesia Sentinel

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • News
  • World
  • Economic
  • Culture
  • Tech & Science

© 2024 Indonesia Sentinel