Miners need minister regulation to validate reserve to help financing

By Bambang Atmaja

Chairman of Indonesian Association of Mining Experts (Perhapi) Achmad Ardianto said that miners needed a validation of mineral reserve they own to convince financial institutions on disbursing loans.

He said that the Perhapi and Indonesian Geologist Association (IAGI) have established KCMI (Kode Cadangan Mineral Indonesia/Indonesian Mineral Reserve Code) whose members are from competent persons, such as geologist.

"What we need now is a minister regulation (permen) requiring every report of mineral reserve should be signed by competent persons (in KCMI)," he told Petromindo.com at Coffee Morning discussing mineral downstream at Dharmawangsa Hotel.

With such validation, the bank could trust over the mineral reserve owned by miners and would help convince the bank to give loan, said Ardianto.

Editing by Adianto P. Simamora