Right now democracy helped international capitalists to steal the local resources.
Democracy helps Indonesia take back their own resources from multinational companies
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An Indonesian state-owned enterprise has acquired a majority stake in a copper, gold and molybdenum joint venture in a multi-billion-dollar deal.
Inalum will acquire for cash consideration of $3.85bn all of Rio Tinto’s interests associated with its joint venture with PT Freeport Indonesia (PT-FI) and 100% of Freeport McMoRan’s (FCX) interests in Indocopper Investama, which owns 9.36% of PT-FI.
An Indonesian state-owned enterprise has acquired a majority stake in a copper, gold and molybdenum joint venture in a multi-billion-dollar deal. Inal...
miningglobal.com
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State-owned energy giant Pertamina has taken over Indonesia’s largest gas block Mahakam from France’s Total E&P Indonesie and Japan’s Inpex Corporation, with a pledge to curb its declining production rate in the future.
The move, carried out through Pertamina’s subsidiary PT Pertamina Hulu Indonesia (PHI) right after the new year, ends the tenure of the two foreign companies operating the block since Oct. 6, 1966.
State-owned energy giant Pertamina has taken over Indonesia’s largest gas block Mahakam from France’s Total E&P Indonesie and Japan’s Inpex Corporation, with a pledge to curb its declining production rate in the future.
www.thejakartapost.com
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Jakarta. Indonesia has decided Pertamina will take over operation of the Rokan oil block, the country's second-biggest crude producing field, once Chevron's operating contract there expires in 2021, Deputy Energy Minister Arcandra Tahar said late on Tuesday (31/07).
Rokan has been a focus area for Chevron, which asked Indonesia earlier this year to extend its operating contract beyond 2021.
Indonesia has decided Pertamina will take over operation of the Rokan oil block.
jakartaglobe.id