Efforts of Indonesian authorities to clean up the nation's mineral and coal mining industries met resistance. Various local mining companies that saw their Mining Business Permit (in Indonesian: Izin Usaha Pertambangan, or IUP) being revoked by Indonesia's Energy and Mineral Resources Ministry object to the government's move, despite authorities' claim that they are only revoking those permits of miners that have failed to obtain the mandatory clean and clear certificate (CnC).
17 February 2020 (closed)
USD/IDR (13,735) +18.00 +0.13%
EUR/IDR (14,833) +18.07 +0.12%
Jakarta Composite Index (5,867.52) +0.58 +0.01%
Below is a list with tagged columns and company profiles.
Today's Headlines CnC
Indonesia's Ministry of Energy and Mineral Resources issued an export recommendation letter for copper and gold miner Newmont Nusa Tenggara (NNT), meaning that the company can resume copper concentrate exports for another six-month period after the previous permit expired on 22 September. Bambang Gatot, Director General for Coal and Minerals at the Energy Ministry, said NNT has met all requirements - including those related to NNT's commitment to establish domestic smelting facilities - in order to obtain the export recommendation letter.
Indonesia’s Ministry of Energy and Mineral Resources may revoke the Mining Business Permit (Izin Usaha Pertambangan, or IUP) of 4,643 local mining companies at the end of January 2015 as these companies still lack the clean and clear certificate (CnC) from regional authorities. This CnC certificate indicates that the mining company has no outstanding royalty and other tax debts, fulfilled its exploration and environmental commitments, has no property delineation issues and obtained the necessary forestry permits.
Latest Columns CnC
Indonesia's Ministry of Energy and Mineral Resources will soon issue a moratorium on new coal mining concessions. This moratorium will be implemented after the issuance of a planned presidential instruction regarding a five-year moratorium on new palm oil plantation concessions. Heriyanto, Head of the Legal Department Directorate General of Minerals and Coal at the Energy Ministry, emphasized that the moratorium in Indonesia's mining industry only involves coal, not the mining of minerals.
West Kalimantan, South Sulawesi and South Kalimantan are the three Indonesian provinces that scored the worst in the Local Government Performance Index (in Indonesian: Indeks Kinerja Pemerintah Daerah, or IKPD). This index, compiled by Indonesia's Corruption Eradication Commission (KPK), measures the degree of coordination and supervision within Indonesian provinces regarding policies and actions related to the prevention of corruption in the mining and energy sectors. The provinces that have the highest scores are Central Sulawesi and the Riau Islands.
No business profiles with this tag