Fate Of Divestment Announced The Day After Tomorrow, Minister Of Energy And Mineral Resources: Indonesia Controlling

Minister of Energy and Mineral Resources Arifin Tasrif. (Photo: Doc. ANTARA)

JAKARTA - The sustainability of the divestment of shares of PT Vale Indonesia Tbk (INCO) found a bright spot.

Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif revealed that the fate of Vale's share release will be announced on Friday, November 10, 2023.

"It's Friday. Friday," Arifin told the media, Wednesday, November 8.

When asked about the amount of shares that Vale will release, Arifin was reluctant to give an answer.

However, he ensured, Indonesia through the BUMN mining holding, MIND ID, would become the largest shareholder and act as controller.

"Yes, the majority is Indonesia," added Arifin briefly.

Regarding the size of the nickel mining concession land to be investigated, Arifin said there would be no land shrinking.

"There is no (land shrinking)," concluded Arifin.

Previously, Arifin said, Vale had promised to give low prices in the divestment process to the company of the state-owned mining holding, 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.

Meanwhile, President Director of the Mining BUMN Holding, MIND ID Hendi Prio Santoso, revealed that the divestment of vale shares of 14 percent is not final and there is a possibility of more than that amount.

"Not necessarily (only 14 percent). Still being negotiated," Hendi told the media quoted on Tuesday, August 15.

This divestment is a must so that Vale can still carry out his operations in Indonesia.

It is known, if the term of operation and contract of Vale Indonesia will end on December 28, 2025.