#Natural Resources
Government prepares for departure of international oil companies
International oil and gas companies are slowly leaving projects in Indonesia. Chevron will be leaving the Indonesia Deepwater Development (IDD) project in East Kalimantan, while Shell will be leaving the Masela Block, which is a giant natural gas project in Maluku.
Indonesian government set deadline for Vale divestment
The Ministry of Energy and Mineral Resources has set a deadline for PT Vale Indonesia Tbk (INCO) until the end of 2024 to submit a proposal for divestment price.
Vale insists on becoming controlling shareholder after divestment
Indonesian Minister of Energy and Mineral Resources Arifin Tasrif stated that Vale Canada Limited (VCL) insisted on being the controlling shareholder of PT Vale Indonesia Tbk. (INCO) after the planned divestment. As previously reported, the divestment is part of the requirement to convert Vale's work contract into a special mining business permit (IUPK).
Ministry yet to issue export recommendation letter for mining companies
The Ministry of Energy and Mineral Resources is yet to issue the recommendation letter allowing mineral export for five companies that have obtained mineral export license.
Ministers race to finish sand export implementing regulation
Several of President Joko "Jokowi" Widodo's ministers are racing to complete the implementing regulation for the recently permitted sand export. One of the main focus of the regulation is the rendering of sand export license.