Indonesian Mining Association


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Newmont Protests Mining Tax Levied by Sumbawa

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By Faisal Maliki Baskoro

Newmont Nusa Tenggara, the Indonesian unit of the United States mining giant, is contesting a local government’s new tax on miners designed to boost revenue.

The West Sumbawa regional government, where Newmont’s Batu Hijau gold and copper mine is located, issued a regulation in an attempt to generate around Rp 200 billion ($22 million) to fund its budget.

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Renegotiation Considered Strange

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JAKARTA - The Ministry of Energy and Mineral Resources (ESDM) considers a request by PIP (Government investment Center) to renegotiate the price of the 7% PT Newmont Nusa Tenggara divestment shares for the 2010 period strange.

Bambang Setiawan, ESDM Director General for Mineral and Coal stated that the price of the 7% PT Newmont Nusa Tenggara divestment shares for the 2010 period totaling US$271.6 million is a mutual agreement reached by the team appointed to conduct the negotiation.

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Papua-Freeport Reach Agreement

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JAKARTA – Papua Provincial Administration and PT Freeport Indonesia have reached agreement on the release of 9,36% stake owned by Freeport Indonesia.
"Both parties have agreed. We just need to decide on the criteria," said Bambang Setiawan, Director General of Mineral and Coal (Minerba) at the Energy and Mineral Resources (ESDM) Ministry on Thursday (1/6) in Jakarta.

Bambang said business negotiations were underway between Freeport Indonesia management and Papua Province. ESDM Minerba Directorate General has also ascertained it will not intervene in the financing scheme for the acquisition. “That is their business. We will only receive a report on the progress of negotiations between Papua and Freeport,” he said.

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Investments in Mining Industry May Reach $3.2b In 2011

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By Rangga D. Fadillah

The Energy and Mineral Resources Ministry said it expected investments in the mineral and coal mining sector to reach US$3.2 billion this year, a slight increase from last year’s $3.18 billion.

The ministrys director general for minerals and coal, Bambang Setiawan, said coal mining would remain the largest draw for investors sector due to soaring coal prices.

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