Court rules in favor of Bayan coal unit
Wednesday, August 23 2017 - 02:22 AM WIB
The Jakarta State Administrative Court (PTTUN) has ruled in favor of coal miner PT Orkida Makmur (PT OM), an indirect subsidiary of IDX-listed coal firm PT Bayan Resources Tbk, over concession dispute with coal firm PT Senyiur Sukses Pratama in East Kalimantan.
Bayan said in a statement on Tuesday that the court has maintained a May 2016 decision by the East Kalimantan Regional Investment Coordinating Board (BKPMD), which reduced the 1,061-ha mining concession of PT Senyiur in Tabang District, Kutai Kartanegara Regency, East Kalimantan Province, by about 748-ha because it overlapped with the mining concession of PT OM.
Bayan said that with the court?s ruling to maintain the BKPMD decision, the OM concession is no longer overlapping with part of Senyiur?s concession. Bayan indirectly owns OM via ASX-listed Kangaroo Resources Ltd.
Senyiur had previously filed a lawsuit against BKPMD for the decision reducing the size of the company?s concession. OM then filed request for ?intervention? with the court to also defend its interest.
Editing by Reiner Simanjuntak