Avoiding Rent Seekers
Monday, July 18, 2022
Vale Indonesia prepares to fulfill its obligation of transferring a majority of shares to the states while being overshadowed by the decline in production and performance.
arsip tempo : 171354605510.
THE mandatory transfer of shares of foreign mining companies to the Indonesian government always leaves behind the bad aftertaste of the dominant role of rent-seekers. The plan to divest 11 percent of Vale Indonesia’s shares, which must be completed by 2025, is no exception.
In accordance with Law No. 3/2020 in mineral and coal mining, mining companies are required to relinquish 51 percent of their ownership. Vale had previously divested 40
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