HI folks, is this going to be the next big news for ORP?
It has been recently reported in Indonesian Mining Association's web site that Indonesian Forestry minister will allow 13 mining companies to mine in protected forest areas, Sorikmas mining ( 75% owned by ORP ) is on the list.
Here is the link : http://ima-api.com/news.php?pid=1409&act=detail
I googled to find out more, It has also been widely reported in local news.
IMA Hopeful Mining Operations Will Not Face Onerous Requirements
JAKARTA - The Indonesian Mining Association (IMA) welcomes the agreement between the Ministry of Forestry and the Ministry of Energy and Mineral Resources (ESDM) that will allow 13 mining companies to mine in the protected forest areas. However, the Forestry Minister’s Regulation No. 14 Year 2006 has to be revoked first in order for mining activities to be able to proceed without cumbersome conditions.
The IMA Chairman who is concurrently the President Director of PT International Nickel Indonesia Tbk. (Inco), Arif S. Siregar after receiving the Investor Award in Jakarta last week said that he agrees with the upcoming issuance of this new presidential regulation that will regulate the mining activities in a protected forest area. “It is excellent, but I request that the Forestry Minister Regulation No. 14 Year 2006 be withdrawn first,” Arif said to Investor Daily.
He continued to say that by allowing companies to mine in a protected forest without any cumbersome conditions, such as obligation to submit the leased land or 1% non-tax revenue (PNPB) of the production, will greatly improve the investment climate in Indonesia. “If this will indeed take place it will bring about a conducived investment climate to the general mining sector,” he iterated.
After a meeting between the Forestry Minister, MS Kaban and the ESDM Minister, Purnomo Yusgiantoro and the Director General ESDM, Simon Felix Sembiring last Wednesday, MS Kaban said that the agreement between the two Ministries would be integrated into a new regulation in the form of a presidential regulation.
“All matters related to the protected forest most probably will be proposed in the form of a presidential regulation, on how to utilize the permit to mine in a protected forest. Eventually, the existing regulation will be sent to the Attorney General or the Ministry of Law and Human Resources for ruling,” he reiterated.
The 13 companies that are allowed to mine in protected forest areas by the government are: PT Freeport Indonesia for exploration and production of copper and gold and other products in Papua; PT Aneka Tambang Tbk. for nickel production in North Maluku and nickel exploration in Southeast Sulawesi; and PT Karimun Granit for granite production in the Riau Islands.
In addition, PT International Nickel Indonesia Tbk. (Inco) for nickel production in South Sulawesi, Central Sulawesi and North Sulawesi; PT Indominco Mandiri for coal production in East Kalimantan; PT Natarang Mining for gold mining construction in Lampung; and PT Nusa Halmahera Minerals for production, construction and exploration of gold in North Maluku.
Other companies permitted to mine in protected forests are PT Pelsart Tambang Kencana for gold exploration in South Kalimantan; PT Interex Sacra Raya for a feasibility study for coal mining in East and South Kalimantan; PT Weda Bay Nickel for nickel exploration in North Maluku; PT Gag Nickel for nickel exploration in Papua; and PT Sorikmas Mining for gold mining exploration in North Sulawesi.
Kaban explained that the new regulation no only applies to these 13 companies, but is also applicable to all companies using an area that overlaps with a protected forest area.
On Tuesday, (5/5) Simon Sembiring said that he would summon the 13 companies in question to follow up on this regulation to realize production for 2009.
In connection with one of the clauses in Forestry Minister’s regulation No.14 Year 2006 which is a derivation from Law 41 Year 2004 regarding Forestry, which requires each company operating in a protected forest area to submit 1% non-tax revenue (PNBP) from its production, Simon said that this issue will be decided at the Economic Minister level. “There are extremely complex formulations and these will be dealt with more in-depth by the stakeholders,” he explained.
ORP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
