Indonesia limits foreign ownership of mining industry | Connect Asia

Indonesia limits foreign ownership of mining industry

Indonesia limits foreign ownership of mining industry

Updated 12 March 2012, 15:35 AEDT

Indonesia has issued a new law limiting the foreign ownership of the country's mining industry to 49 per cent.

The decree insisting on Indonesian majority ownership was signed off last month by the president, but was only published late last week.

It builds on the 2010 ruling that forces foreign companies to divest 20 per cent of mining projects into Indonesian hands within the first 5 years of production.

Nonetheless there seems to be a number of uncertainties as to which companies would be affected and if the ruling applies to existing projects.

Presenter: Tom Fayle

Speaker: Adi Tahir, member of parliament heading the committee dealing with trade, industry and state owned companies

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