can some put this in english , page-13

I know that you are challenging Robot, but I think that I may help a bit here by firing the first salvo in reply.

To my understanding until some years ago mining investment in Indonesia was contractual in nature with contracts between investors (local or foreigners) and the central gov. However this has moved to a license based system issued by the Central, Provincial and Regional governments.

When the law changed, some time in 2007 if I am not mistaken, the old contracts were declared has being still valid but needing to be converted to the new licensing scheme by some time during 2010 or 2011.

I am not sure,but what I think that it has happened is that Iau's Indonesian partner failed or refused to do that when pressed by Iau to do so.

Foreigners are allowed to have 100% ownership of an IUP investment, but are, due to a recently implemented law, required to divest a large portion withing five years of starting production. In terms of this new law processing of the ore has also to be done locally.