medcom.id, Jakarta: A number of foreign investors are planning to release their stocks in the local mining companies. It is considered as an opportunity for local investors to control domestic natural resources.
Former Director General of Mineral and Coal, Simon Felix Sembiring, explained that it is the perfect time for local investors to take over stocks in Indonesia's mining sector.
"Now is the time for local investors to control our natural resources," mentioned Simon as quoted in a statement in Jakarta, Tuesday (4/12/2016).
American mining company, Newmont, is gooing to release its stocks to Medco. BHP Billiton reportedly will also sell its stocks in PT Indomeat Coal (IMC). BHP owns 76 percent of stocks in IMC, as the rest is owned by PT Adaro Energy Tbk.
Simon urged the government to support local businesspeople in managing Indonesian resources. "We support the national businesspeople in managing that. It is not the 1960s, now they are capable," he continued.
Executive Director of Energy at Indonesian Resources Studies (IRESS) Marwan Batubara also supported local investors, especially state-owned companies to take more control in national mining sector.
"It still needs to be calculated so it will not cause loss to the state," concluded Marwan.
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