Overdue royalties of South Kalimantan coal miners reach $38m
Friday, March 4 2005 - 02:00 AM WIB
The overdue royalties owed by coal mining companies to the provincial administration of South Kalimantan have reached a total of US$ 38 million, Investor Daily reported on Friday.
A source told the daily that several major coal mining companies such as PT Arutmin Indonesia and PT Bahari Cakrawala Sebuku had an overdue royalty of about US$ 31.9 million and US$ 6.6 million, respectively.
Other mining companies, which delayed their royalty payment, included PT Antang Gunung Meratus which owed about US$ 200,000 to the East Kalimantan government, PT Sumber Kurnia Buana (US$ 297,000), PD Baramarta (US$ 528,000) and PT Bentala Coal Mining (US$ 94,000).
The provincial administration received about Rp 24 billion in royalty payment from coal miners in 2004, far lower than the targeted Rp 27 billion due to the delay in the royalty payment. (*)