Mining companies await new mining law to resume investment

Mining companies are still waiting for the implementation of the new mining law to resume their investment in Indonesia because they mostly still considered the existing mining regulations still create uncertainties for their operation, Noke Kirayon, the president of PT Newmont Pacific Nusantara has said.

"We and other mining investors are waiting for the new mining law to make new investment," Noke Kiroyan was quoted as saying. According to him, the investors still delayed their investment because they did not know which would be regulated by the new mining law.

"Legal certainty is very important for investors either to resume their existing investment or to make new investment," he said when commenting the draft law on mineral resources and coal which is currently being deliberated by the government and House of Representatives.

Noke, the former president of major coal mining company PT Kaltim Prima Coal, said that mining companies hoped that the new mining law would be able to ensure a legal certainty to their investment in Indonesia. (godang)