This is from petitemort's post on 14/01...

This is from petitemort's post on 14/01 (https://hotcopper.com.au/threads/gmc-contact.3160619/page-58?post_id=21893852):

"The Energy Ministry of Indonesia needs to give a recommendation to a miner before the miner is allowed to export mineral ore (this recommendation, which is valid for one year, forms the basis for the Trade Ministry to issue an export permit). However, it will only grant a recommendation to miners with the IUPK status that show progress with the development of local processing facilities. Every six months the Energy Ministry will check whether there has indeed been progress with smelter construction. If there has not been sufficient progress, then it can revoke the export permit. Therefore, miners will still need to develop smelters in Indonesia."

"The mandatory mining divestment rules require foreign owned mining companies to divest their shares in stages to Indonesian Participants commencing after 5 years of production. The timeline requires that companies divest at least 20% of their shares after 6 years, 30% after 7 years, 37% after 8 years, 44% after 9 years and 51% after 10 years."