Mining Business Permit ("Izin Usaha Pertambangan" – "IUP") and Special Mining Business Permit ("Izin Usaha Pertambangan Khusus" – "IUPK"), which are owned or controlled by foreign investors, to gradually divest at least 51% of their total shares after the fifth year of production. The divested shares
Indonesia Regulatory Update January 2017 KPMG
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