IMPLICATIONS OF DIVESTMENT REGULATIONS INDONESIA ON FOREIGN MINING COMPANIES AS CONTRACT HOLDERS
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Abstract
Mining indonesian regulation Article 112 of Law No. 4 of 2009, requires foreign companies to divest, while Article 169 of Law No. 4 of 2009, beside requires companies holding Contracts of Work (KK) and Coal Mining Concession Work Agreements (PKP2B) to adjust the contents of their contracts no later than one year, on the other hand, KK and PKP2B which existed before the issuance of Law no. 4 of 2009 was given certainty to expire until the expiration date. This study examines the implications of divestment regulation requirements for foreign companies who are holders KK and PKP2B. The results show that the divestment obligations of several foreign contract holders have led to disputes with the Indonesian participants as the purchaser of shares, for several reasons as are the absence of the right to buy in contract KK and PKP2B and the Indonesian participant’s limited capital.
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