Divestment Not Final, Minister Of Energy And Mineral Resources: Vale Promises To Give Cheap Prices

Minister of Energy and Mineral Resources Arifin Tasrif (Photo: dock. Antara)

JAKARTA - The process of divesting shares of PT Vale Indonesia (INCO) has not yet reached its end. It is known that the discussion process is still being carried out at the Ministry of State-Owned Enterprises (BUMN) and is tough.

Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif said that Vale had promised to give low prices in the divestment process to the state-owned mining holding company, MIND ID.

"Vale said he would not give an expensive price, we hold on to his promise," said Arfin, who was met at his office, Friday, November 3.

The ongoing discussion process is a business-to-business (B2B) process with MIND ID, while matters at the Ministry of Energy and Mineral Resources have been completed.

"This is still a problem with B2B. From the Minerba sector itself, there is no problem, yes, once it is resolved, it will automatically be resolved. Maybe it needs to be asked further to the BUMN," continued Arifin.

The number of shares that Vale will release ranges from 11 to 14 percent. This divestment is a must so that Vale can still carry out its operations in Indonesia.

Minister of State-Owned Enterprises (BUMN) Erick Thohir gave an answer regarding the progress of the divestment of shares of PT Vale Indonesia Tbk (INCO).

It is known, if currently the divestment process is already at the Ministry of SOEs.

Erick said that his party was still discussing with the Ministry of Energy and Mineral Resources and mining BUMN holding, MIND ID related to the divestment.

"This is a discussion again. Yes, it's tough!" said Erick briefly when met at the Ministry of Energy and Mineral Resources Complex, Monday, October 30.

Previously, Erick also revealed that he was still studying the process of releasing the shares.

He also admitted that he did not want to agree with things that should not be done.

"There are two things that we are studying, lest what is divested is only the outskirts but the one in the middle is still under control," said Erick.