Prabowo orders a greater state share of mining benefits in Indonesia, saying at least 70% from permits should go to the government . Read more at straitstimes.com.
Hey there, fellow earthlings! Grab your helmets and hard hats because we’re diving into the rocky world of mining in Indonesia—where the gold and minerals are plentiful, and apparently, so are the demands from the government!
Recently, President Prabowo Subianto made quite the splash (and not the good kind that comes from a refreshing pool) by declaring that the Indonesian state needs to get a bigger slice of the mining pie. I mean, who wouldn’t want a bigger piece of the cake? Especially when it’s a cake made of precious minerals and resources!
In a speech to the members of Muhammadiyah—one of Indonesia’s largest Islamic organizations—Prabowo stated that at least 70% of the benefits from all mining permits should go to the state. Yes, you heard that right. Seventy percent! That’s more than just a generous tip at your favorite restaurant. He even mentioned the possibility of the state holding controlling stakes in mining assets. So, if you thought your landlord was tough, just wait until you see the government in action!
Now, let’s break this down a bit. The president’s statement isn’t just a whimsical idea he pulled out of a hat. This 70% chunk refers specifically to the proceeds from the management of mining permits. It seems that Prabowo is sending a clear message:
“Hey, investors! You can come play in our sandbox, but you better be ready to share your toys… and by toys, I mean profits!”
But wait, there’s more! Earlier this year, Deputy Energy Minister Yuliot Tanjung hinted at a gross-split scheme where 70% of the output would go to the government and a mere 30% to the mine operator. Sounds fair, right? Well, not so fast. Energy Minister Bahlil Lahadalia later said that this proposal was dropped after some good old-fashioned consultations with Prabowo. So, it looks like the idea of the 70/30 split went the way of the dodo bird—gone but not forgotten.
What’s interesting here is that while Prabowo is open to investors in the mining sector, he’s making it crystal clear that the profits should predominantly benefit the Indonesian people. Because, let’s be real, who wants to see all that wealth just trickle into the pockets of a few lucky mine operators? Not on his watch!
Now, you might be wondering: what does all this mean for the average Joe on the street in Indonesia? Well, if the government successfully secures this larger share of mining profits, it could mean more funds for public services, infrastructure, and perhaps even a little something extra for the citizens. Or, you know, it could just mean more bureaucratic red tape. Who doesn’t love that?
In conclusion, President Prabowo’s bold move to demand a larger share of mining benefits is certainly a conversation starter. Whether this will lead to more significant improvements for the Indonesian people or just more complicated regulations remains to be seen. But one thing’s for sure: the mining game in Indonesia is about to get a lot more interesting. So, keep your eyes peeled and your hard hats on—this is one rocky road to watch!
Inspired by: “Indonesian president orders greater share of mining benefits for the state” (r/News)