The Conflict of Private-National Interest in the Divestation of PT. Newmont Nusa Tenggara's Shares (The Study on Newmont Divestation 2008-2016)

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Abstract

The 1945 Constitution mandates that strategic mining must be controlled by the state. Not by foreign corporations. Based on that mandate, Indonesian government is struggling for the shares divestment of Newmont Nusa Tenggara (NNT), an American based mining company. NNT operates the Batu Hijau and the Elang Dodo Rinti mine. NNT’s Contract of Work mandates NNT to divest shares of 51 percent. NNT disobeyed the divestment order. In the divestment process, there is a conflict of private-national interests. The divestment process becomes an event to seize the oligarchy. In some term, a new oligarchy regulates Newmont. Keywords: Newmont Nusa Tenggara, Constitution’s mandate, strategic mining, Contract of Work, divestment order, Law No.4 / 2009, Agus Martowardoyo, Bakrie Group, PT. Multi Daerah Bersaing, Oligarchy, Winters, state-owned company, foreign company, Medco, civil society, Arifin Panigoro.
Original languageEnglish
Pages (from-to)54-67
JournalLiterasi Hukum
Volume2
Issue number2
Publication statusPublished - 2018

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