Regarding Vale's Investment Issues Up To 51 Percent, Jokowi Says This

Jokowi (Photo: Doc. Antara)

JAKARTA - President Joko Widodo opened his voice about the divestment of PT Vale Indonesia's shares by 51 percent.

Jokowi said that until now the process of divesting Vale's shares was still ongoing so he could not convey the progress of the divestment process.

"Not yet. Still in process," said Jokowi, quoted from the Presidential Secretariat's Youtube, Wednesday, June 21.

He also declined to comment on Vale's assets and mining reserves which are still listed at Vale's headquarters in Canada. "I can't tell you yet because it's still in process," said the Head of State.

Just so you know, PT Vale is required to release its share ownership of 11 percent to Indonesia through the holding of BUMN MIND ID as a condition for the extension of the Special Mining Business License (IUPK).

Previously in a Working Meeting with Commission VII DPR RI, Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif explained, based on the monthly report on the registration of securities holders in June 2023, the composition of PT Vale's shareholders on the exchange was as follows, Vale Canada Limited at 43.79 percent, MIND ID 20 percent, Sumitomo Metal Mining Co. Ltd at 15.03 percent, the public / public at 21.18 percent consisting of foreign investors 59.47 percent, and national investors at 40.53 percent.

Not long ago, his party held a meeting with Vale on May 4, 2023. He said that if Vale opened up opportunities for share divestment, it was greater than 11 percent, with operational control rights, and financial consolidation.

"MIND ID also wants operational control and financial consolidation rights. PT Vale has not yet conveyed the investment share price," concluded Arifin.