On 21 February 2012, Indonesia issued a Regulation (No. 24 of 2012) to increasethe share of Indonesian firms in foreign mining companies. The new regulation is an revision of a regulation from 2010 (No. 23 of 2010, see related measure).
While the 2010 Regulation required foreign enterprises to divest 20 percent (within 5 years), the latest regulation (24/2012) requires a divestment of 51 percent over ten years. Hence, all foreign mining firms will need to a have an Indonesian majority shareholder by 2022.
The provisions were replaced on 14 October 2014 by government regulation 77/2014 (cf. Related Measures).