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Bisnis.comJAKARTA — Commission VII DPR RI has asked the government to strengthen the position of PT Mineral Industri Indonesia (Persero) or MIND ID in efforts to negotiate majority share of PT Indonesia To know. (INCO) in the dynamics of extending the mining concession of the integrated nickel company.

DPR Commission VII member Gerindra Fraction Ramson Siagian said MIND ID must secure operational control rights until INCO’s financial consolidation ensures the company’s potential nickel resources can become listed assets. in Indonesia.

“So that the resources and asset reserves of PT Vale Indonesia are consolidated in the Indonesian state asset book, and not in Canada, because that is our resource,” Ramson said during an interview. a working meeting with Minister of Energy and Mineral Resources (ESDM) Arifin Tasfrif, Jakarta. , Tuesday (13/6/2023).

Thus, Ramson asked the government to support efforts to acquire the majority stake in INCO to become the controller of the integrated nickel mining company.

“That is to say the transfer of shares for instruments which represent the State SPIRIT ID we can add to it, which means that from Sumitomo Metal and Vale Canada Limited, the main ones are so that the resources and the reserves can be consolidated,” he said.

Earlier, Energy and Mineral Resources Minister Arifin Tasrif revealed that Vale Canada Limited (VCL) wants to retain control of PT Vale Indonesia Tbk. (INCO) after fulfilling the remaining divestment obligations for the transition from employment contract (KK) to special mining authorization (IUPK) status.

Arifin said Vale has opened up the opportunity to offer a stock transfer share of more than 11% to MIND ID. However, society still wants to be the controller.

“Vale opens up opportunities for disposals of more than 11% of the shares, with rights of operational control and financial consolidationn,” Arifin said.

The position of INCO’s board, Arifin said, was communicated in a joint meeting with the government chaired by the deputy minister of public enterprises, which was also attended by senior officials from the ministry of government. Energy and Mineral Resources on May 4, 2023.

“MIND ID also wants operational control rights and financial consolidation because if you only buy an additional 11% of the transfer shares without these rights, MIND ID will not benefit and risk incurring losses,” Arifin said.

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