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jakarta post ore mining

jakarta post ore mining

Minister for Energy and Mineral Resources Mr Ignasius Jonan said this process would be done in a maximum of 14 days with no requirement for a tender. Upon attaining an IUPK licence, miners are given an extra five years during which they are permitted to export approved concentrations of mineral ores, provided they are willing to develop domestic refining facilities. The new regulations appear to conflict with the provisions of the 2009 Mining Law which stipulates that there is no requirement to convert CoW into IUPKs. Moreover, the Mining Law requires IUPKs granted to private entities on the basis of a tender. As such, with many mining companies having recently re negotiated their CoW contracts, the new regulations will render these obsolete and many miners are now fo... Just the Ticket to Improve Logistics), ports , as well as maintain a large amount of electricity supply . Despite a doubling of total electricity generation in the past decade, Indonesia still only has a low electrification rate compared to that of its ASEAN neighbours. Given the challenges in getting infrastructure projects approved, such complementary investments may not materialise in time as the country aims to add value to its downstream metal mining...

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The high profile dispute involving Freeport Indonesia places into context the difficult situation major mining companies in Indonesia are facing. As the operator of the Grasberg Mine, Freeports existing Contract of Work was signed in 1991, granting the company the right to operate until 2021. With the introduction of the 2009 Mining Law, the Indonesian government deemed it fit for Freeport Indonesia to convert its old contracts to be in line with the new law. According to Freeport, the company wants the same legal and fiscal certainty currently laid out under its CoW and is prepared to take the Indonesian government to an international arbitration tribunal to settle the dispute. Under the new regulations, Freeport Indonesia would be liable to a dividend tax, 10% value added tax, and an export duty of up to 7.5%. Furthermore, the company would have to divest up to 51% of its Indonesian unit shares compared to the current mandatory 30% and c...

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For decades, Indonesia has been relying on its natural resources as a key source of government revenues. The countrys fourth revision to its mineral mining laws sent ripples through the global metal mining industry with the price of nickel, copper, and bauxite fluctuating since the implementation of the new regulations. The Indonesian government should get a boost from the resumption of mineral exports and greater control over foreign mining projects appeals to national sentiment. With the Indonesian governments prioritising other infrastructure projects outside of the mining industry, allowing miners to export in return for investment in downstream smelting facilities should generate thousands of jobs, boost local economies, and meet domestic demand for infrastructure development . Yet among mining companies and investors in Indonesia, there is growing concern over the sudden change of heart in the countrys mining poli...

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