After Canadian Vale SA’ unit, PT Vale Indonesia Tbk (INCO) has completed the divestment of 20% shares, there are four other miner which are required to divest their shares to local entities. Said companies must complete the divestment offer process to fulfill 51% of Indonesia’ ownership. The four companies are three gold miner, PT Natarang Mining, PT Ensbury Kalteng Mining, PT Kasongan Bumi Kencana, and diamond producer, PT Galuh Cempaka. Natarang has a divestment obligation of 22%, Kasongan Bumi Kencana 19%, Galuh Cempaka 31%.
