Hatta says contract renegotiations to complete by 2014

By Bambang Atmaja

Coordinating Minister for Economy Hatta Rajasa targeted to complete mining contract renegotiation by 2014, rather than its initial target of at the end of this year.

"We have completed the tabulation for it (the target of the renegotiation), so by 2014 all of them will be completed. It is a must," Minister Hatta told Petromindo.com at the State Palace.

Hatta said the country would receive more revenue should the renegotiation be completed, particularly from mining royalty. The government set up the the renegotiation team in January 2012, with Minister Hatta as the head of the panel. Last year, only two renegotiations completed, there are still 97 outstanding contracts to deal with.

Editing by Adianto P. Simamora