Latest News

Minister: Indonesia has issued a rule that will help small mining firms to win concessions.

Indonesia's mining minister announced on Thursday that the country has released a regulation to assist small and medium-sized businesses as well as cooperatives in securing mining concessions, without going through a competitive process.

The new regulation is a follow-up to a law that was passed in February, which gives priority access to small firms, such as the business units of religion groups, to some mining areas. Prior to this law, the only companies that had priority access to certain mining areas in the resource rich country were state-owned firms.

Bahlil lahadalia, the mining minister, told a conference of economics that only those cooperatives and SMEs that meet certain criteria would be given priority access.

When will justice be served if the tendering process is continued? Bahlil made a speech.

Indonesia awarded a coal mine concession to each of the islamic groups Nahdlatul Ulama (Nahdlatul Ulama) and Muhammadiyah on Borneo Island last year.

Indonesia is a major producer of nickel and thermal coal, and also has deposits of bauxite and copper.

The country is also trying to extract rare Earths that are found in nickel and tin by-products. (Reporting and writing by Fransiska Naangoy, Gayatri Suryo; editing by David Stanway).

(source: Reuters)