Govt declares Agincourt?s gold mine as vital asset

By Romel S. Gurky

The Ministry of Energy and Mineral Resources has issued Decree No 2684 K/90/MEM/2015, declaring the gold and copper mine of PT Agincourt Resources in Aek Pinning Village, Batangtoru District, South Tapanuli Regency, North Sumatra, as a national vital object in the mineral sector.

According to the copy of the decree obtained by this portal on Monday, with such status, Agincourt is obliged to ensure security of the mine asset in line with the procedures set for vital national asset.

The company is also required to complete within one year after the issuance of the decree an MoU with the National Police for cooperation in implementing security measure at the gold and copper mine.

Agincourt must also make regular report (every six months) to the ministry regarding the security operation and for any threat faced by the mine asset.

The decree says that Agincourt?s permit over the asset will be revoked if the company fails to carry out its obligation. It also says that the status of Angincourt mine as vital national object is valid for five years.

Editing by Reiner Simanjuntak