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Inco Will Not Relinquish Concession Area

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JAKARTA: PT International Nickel Indonesia Tbk (Inco) has denied it will relinquish several blocks in its contract of work concession area at the regions request.

Inco Corporate Communications and Media Director Jannus T.H. Siahaan said to date the company had no plans to relinquish any areas under its Contract of Work.

"We remain committed to long-term investment in our entire contract of work area in South Sulawesi, Southeast Sulawesi and Central Sulawesi, through proper mine management,” he informed Bisnis, yesterday. INCO’s contract of work area straddles South Sulawesi (the lake area), Central Sulawesi (Bahudopi, Lingke, Bulubalang, Kolonodale), and Southeast Sulawesi (Latao, Suasua, Paopao, Pomalaa, Torobulu, Malapulu, Matarape, Lasolo).

The total area of this concession comes to 218,528.99 hectares. Out of this total area, Inco has only worked on around 6,000 hectares.

Inco first signed its Contract of Work on July 27, 1969 for a period of 30 years from the beginning of commercial production, or April 1, 1978 to March 31, 2008.

On January 15, 1996, Inco had its Contract of Work renewed for another 30 years, until 2025.

Recently a Bisnis source disclosed that some regional governments had requested several blocks inside the Inco contract of work area
But Inco was yet to decide whether or not to grant the requests.

He said relinquishment by INCO of four blocks in the fourth quarter of 2010 was made at the request of the Southeast Sulawesi provincial government.

"Relinquishment of the four blocks was made at the request of the regional government. We received no compensation at all for the relinquishment,” he said. (1o)

Source : Bisnis Indonesia, Jauary 10, 2011