Mining firms sign contract amendment
Wednesday, December 23 2015 - 06:48 AM WIB
A total of 21 mining firms signed on Wednesday contract amendment with the government, represented by Minister of Energy and Mineral Resources Sudirman Said.
The firms comprise of 12 coal miners holding PKP2B coal contracts of work and 9 mineral mining firms holding the KK mining contracts of work.
The contracts are amended to comply with the terms set in the 2009 Mining Law.
The 9 KK mining firms which signed contract amendment Wednesday are as follows.
PT. Karimun Granit
PT.Gorontalo Sejahtera Mining
PT. Paragon Perdana Mining
PT. Iriana Mutiara Idenberg
PT. Mares Soputan
PT. Tambang Tondano Nusajaya
PT. Iriana Mutiara Mining
PT. Sorik Mas Mining*
PT. Tambang Mas Sangihe
* to be signed later as the CEO of PT Sorik Mas Mining could not attend the signing event.
Meanwhile the 12 PKP2B coal miners are as follows.
PD Baramarta
PT. Tanjung Alam Jaya
PT. Bara Pramulya Abadi
PT. Banjar Intan Mandiri
PT. Ekasatya Yanatama
PT. Sumber Kurnia Buana
PT. Batu Alam Selaras
PT. Astaka Dodol
PT. Baturona Adimulya
PT. Selo Argodedali
PT. Selo Argokencono Sakti
PT. Karya Bumi Baratama
With the signing of the contract amendment, the 21 mining firms have agreed to pay financial obligations to the state in accordance with prevailing law, except on the 30-35 percent corporate income tax which still follows existing contract (nailed down), the ministry said.
The government had been engaged in lengthy negotiations with 34 KK miners and 73 PKP2B miners to amend their contracts. In October 2014, PT Vale Indonesia Tbk was the first to sign contract amendment, which was followed by 10 PKP2B coal miners in August 2015.
Editing by Reiner Simanjuntak