Jakarta –
The draft issuance of PT Vale Indonesia’s Special Mining Business Permit (IUPK) Decree has been submitted directly to the Ministry of Investment/Investment Coordinating Board (BKPM). This was stated directly by the Minister of Energy and Mineral Resources, Arifin Tasrif.
Vale initially only had a Work Contract (KK) which will be transferred to an IUPK contract. In this way, Vale’s working period will be extended to a maximum of 20 years.
Minister of Investment/Head of BKPM Bahlil Lahadalia confirmed this. He said that the draft SK IUPK Vale Indonesia was already on his desk. However, currently he has not had time to follow up because he has just finished his leave for Umrah.
“Oh, that’s right (I have received the Vale IUPK SK). Now it’s in the process, it won’t be long because yesterday I just left for Umrah and I took a few days off,” explained Bahlil at the Presidential Palace Complex, Central Jakarta, Monday (8/4/2024 ).
Bahlil said that his party would try after this Eid to follow up on the draft and complete the process. In the end, Vale Indonesia will receive an IUPK contract and an extension of the work period.
“After the holiday, God willing, it will be over,” said Bahlil briefly.
Previously, Arifin Tasrif stated that currently the technical matters for PT Vale Indonesia’s contract extension had been completed. The company’s administrative, technical, environmental and financial aspects have been evaluated to obtain an IUPK.
“Vale Indonesia’s request for a KK extension has been evaluated in relation to administrative, technical, environmental, financial and business performance aspects,” explained Arifin in a working meeting with Commission VI of the DPR, last Wednesday (3/4/2024).
Currently, according to Arifin, the contract extension is just waiting for the share divestment process to complete. Previously, it was agreed that MIND ID as the government representative would obtain an additional 14% share ownership in Vale Indonesia. This makes MIND have the largest stake in Vale Indonesia at 34%.
This divestment process will begin its final stages starting this April. The target is that by July 2024 the divestment process can be completed.
(hal/ara)
2024-04-08 06:43:23
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