Indonesia plans to restrict overseas stakes in mining projects to 49%

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Source: Marketwatch
Indonesia will oblige overseas investors to cut stakes in coal and mineral mining to 49% of ownership, announced the Energy and Mineral Resources Ministry. The Ministry requires foreign owners to sell about 20% during first six years of mining to the local investors. After the seventh year about 30% should belong to the local investors, after eight year their stake has to be 37%, in the ninth year 44% and after the tenth year 51%.


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