MEMR propose changes to procedure for extension of mining permits
Thursday, September 24 2015 - 02:42 AM WIB
Ministry Secretary General Teguh Pamudji said in a statement Wednesday that the proposed revision would cover changes in a number of chapters in the regulation on the procedure to obtain extension of mining permits, both coal contract of work (or also known as PKP2B) and mineral contract of work (KK) in a bid to help create certainty for mining investors.
Teguh cited as an example that under Government Regulation No 77/2014, metal mineral miners, which require huge investment in operating the mines, can only apply for extension of their mining contracts two years before their expiry. He said this is clearly ?not proportional,? and creates uncertainty for the miners in making the required huge investment.
?So, the spirit is to provide legal certainty for the mining companies,? Teguh said, but did not provide further details.
The planned revision of Government Regulation No 77/2014 is part of an overall new economic package policy being prepared by administration of President Joko Widodo to help revive investment in various sectors and accelerate economic growth.
Editing by Reiner Simanjuntak