Barito Intan, Nusaminera return their mining areas to government

Two mining companies PT Barito Intan Mas and PT Nusaminera Utama have formally returned their mining areas in Kalimantan to the government after they could not find mineral deposits in their concession areas, Bisnis Indonesia reported on Wednesday.

The Ministry of Energy and Mineral Resources said in a statement that the companies had terminated the contract of works issued in 2005 to operate mining areas in Central and East Kalimantan.

Although the termination of their contract of works had been approved by the government, the two companies have to settle their obligation to other parties made before the end of their contracts. The two companies should also carry out liquidation process according to the existing regulation.

PT Barito Intan Mas received a contract of works from the government in 2005 to operate 36,628 hectares of mining areas in three regencies in Central Kalimantan, while PT Nusaminera obtained its contract of works, also in 2005 to operate mining areas in Kutai Kartanegara regency, and Samarinda, East Kalimantan. (*)