Govt to prepare investment guide for mining sector

Minister of Energy and Mineral Resources Purnomo Yusgiantoro has said the government will prepare an investment guide for the general mining sector, the Koran Tempo newspaper reported in its Monday edition.

It will be a temporary mining guide as the government would submit a new bill on general mining to the House of Representatives next year, replacing the existing law No. 11/1967, Purnomo said.

As a temporary investment guide, it will adopt several contents from the Regional Autonomy Law and the existing general mining law.

The guide will also incorporate new ideas from the business sector so that it can be accepted by all the stakeholders in the general mining sector.

“The guide will function as a temporary format for the investment in the general mining, especially new generation work contracts for mining companies issued by the government,” Purnomo said in Jakarta last week.

In principle, according to the minister, the guide will has three functions. The first function is to work as material for new general mining draft bill, which will be submitted next year.

Besides this, the guide as an instrument will provide industrial and trade houses, ministry of finance and the coordinating minister for economy a common perception toward general mining.

“The guide will also be a mechanism for attracting new investors,” Purnomo said. (*)