Miners required to report reserves data

The Directorate General of Mineral and Coal plans to issue a new policy requiring mineral and coal mining companies in the country to report their reserves data with the government, using the Indonesia Mineral Reserves Code (KCMI) system, instead of Australia?s JORC and Canada?s NI 43-101 normally used by many miners.

Director General of Mineral and Coal R. Sukhyar was quoted as saying Tuesday by Kontan that his office is currently drafting the regulation aimed at obtaining proper reserves data of the country?s strategic mining sector.

He added that the Indonesia Stock Exchange has required the use of KCMI for mining firms planning to go public and list their shares in the exchange. (*)