MEMR has yet to offer ex-Vale concessions to new investors
Monday, June 13 2016 - 02:55 AM WIB
The Ministry of Energy and Mineral Resources (MEMR) has yet to start offering, via tender, the former nickel concessions of IDX-listed mining firm PT Vale Indonesia Tbk to new investors following recent instruction from President Joko Widodo for a moratorium in the mining sector, Kontan reported on Monday.
The paper quoted ministry Director General of Mineral and Coal Bambang Gatot Ariyono as saying that the ministry is still waiting for further clarification over the moratorium policy whether it is only limited to the opening of new mines or also include concessions that have been returned to the state.
As part of its mining contract amendment, Vale has returned a combined 72,074.44 hectares concessions in Sulawesi to the government. The paper said that 30,309.48 hectares would be offered to other investors, while the remainders have been declared as state reserve area. (*)