30 foreign mining investors delay and cancel investment

A total of 30 foreign mining investors had decided to delay and cancel their investment plan in the country, a top official of the Ministry of Mines and Energy said on Tuesday.

The ministry's director of mining ventures supervision Simon Sembiring said some of them had decided to cancel their investment plans due to failure to find mining deposits with commercial value, while the others delayed the investment due to financial difficulties.

He denied that concerns over the country's political condition and rampant illegal mining activities were factors behind the investment cancellation and delay.

The investors that decided to cancel the investment plans included six holders of the Seventh Generation Contract of Work. They are Obi Minerals, Aurum Ketapang Lestari, Solok Minerals, Samideco Metalindo, Aurum Ketapan Indomitra, Sameco Mas Jaya.

Other contractors which decided to cancel and delay their investment are Newmont Bengkulu Mineral, Alahan Panjang Mineral, Tambang Kuling Mineral, Marunda Wahau Mining, Tebolai Seng Perdana, Masmindo Eka Sakti, Ingold Antares, Barrick Mutiara Flores, Barrick Mutiara Ransiki, Barrick Mutiara Van Daalen, Bukti Tiang Minerals, Danfort Development Indonesia, Gunung Faumai Mining, Indo Diatreme Minerals, Indo Luwuk Mas, Intan Laut Kalimantan, Newcrest Sumatera Minerals, North Mining Alor, Prima Gauttier Mining, Prima Nawan Mining, Prima Wetar Mining, Scorpion Mangani Mas, Scorpion Salido Mas, Scorpion Schwaner Minerals and Tamrau Jaya Mining. (*)