Ministry to annul 70 mining contracts

The ministry of energy and mineral resources would revoke the mining contracts that it had awarded to 70 local investors by the end of this year for making no activities, a senior official of the ministry said on Thursday.

Director general of mining Surna T. Djajadiningrat told reporters the ministry had decided to revoke the contracts of the "sleeping" investors to prevent them from trading in their contracts.

"Of the 300 local investors, who have received mining contracts, 70 are considered sleeping because they have not yet made any reports on their activities.

"We shall revoke their contracts by December 30, this year to prevent them from trading in the contracts," Surna said during the seminar on low-grade coal. (Alex)