Indonesia Plans to Limit Foreign Ownership in Mines

Bloomberg reported Indonesia says it will limit foreign ownership of mines to 49%.

As quoted in the market news:

Foreign holders of mining licenses will have to cut their stakes to 49 percent within 10 years of starting production, from 80 percent, according to a decree signed by President Susilo Bambang Yudhoyono on Feb. 21.

Click here to read the full Bloomberg report.