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Wednesday, 22 April 09
PROTECTED FORESTS FACING UNDERGROUND MINING THREAT - THE JAKARTA POST
The government is soon to issue a presidential regulation allowing mining companies to mine underground in protected forest areas, despite a recent report by the Supreme Audit Agency (BPK) highlighting poor management of mining operations by some mining companies.
Bambang Setiawan, director general for coal, minerals and geothermal at the Energy and Mineral Resources Ministry, said Monday evening that the presidential regulation was important as it would bring new legal certainties to underground mining operations.
"This regulation will not violate the existing law *the Forestry Law*, which only forbids open-pit mining in forests, not underground mining," Bambang said.
Energy and Mineral Resources Ministry Purnomo Yusgiantoro said that underground mining might be very costly, but would be worth the investment. "No problems with the higher cost as long as it provides higher profits," Purnomo said.
He added several protected forest areas were predicted to contain high reserves of coal and minerals. "Take the example of forests in Kalimantan, *where* the areas are estimated to contain huge reserves of coal."
Purnomo and Bambang did not specify when the regulation would be issued, saying only that this was under the president's authority.
Separately BPK lambasted the management of some mining operations in its audit report on coal mining management during the 2006-2007 fiscal years.
It found as many as 212 cases of irregularities in coal mining management with potential state losses reaching Rp 2.69 trillion, along with another US$778.8 million, in total.
Losses reflected halts in reclamation collateral payments by 60 mining contract (KP) holders in Kutai, East Kalimantan; 30 KP holders in Tanah Laut, South Kalimantan; and Coal Contracts of Work (PKP2B) holders PT KJA and PT MSJ.
The total amount of the halted payments reached $3.18 million and Rp 127.25 billion in total, with BPK claiming this would burden state budgets if the contractors failed to fulfill their reclamation obligations.
The audit found that 61 KP holders and 5 PKP2B contract holders did not properly manage the top soil and overburden in open cast mining areas, which could cause landslides, or erosion and reduce soil fertility.
BPK said all these irregularities were caused by a combination of policy weaknesses along with non-compliance by mining companies.
In response, Bambang said that most of the irregularities were found in KPs that were issued by regional governments. "We are conducting an internal evaluation on the BPK's findings," he said.
Source: http://www.thejakartapost.com/news/2009/04/22/protected-forests-facing-underground-mining-threat.html
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Monday, 23 March 09
STRAITS TO SELL STAKE IN COAL ASSETS TO PTT -THEAUSTRALIAN.NEWS.COM
STRAITS Resources will sell a 60 per cent stake in its Indonesian coal assets to Thailand's PTT International Co. for $US335 million.
The transa ...
Monday, 23 March 09
BMA TAKES 60 PCT CUT IN JAPAN COKING COAL PRICE-CITI - REUTERS
BHP Billiton Mitsubishi Alliance (BMA), the world's top coking coal exporter, has agreed to accept a discount of around 60 percent for the steel-ma ...
Sunday, 22 March 09
SHENHUA ENERGY'S 2009 COAL PRODUCTION MAY GAIN 8% - BLOOMBERG
China Shenhua Energy Co., the nation’s biggest coal producer, may increase production of the energy fuel by about 8 percent this year, slower ...
Friday, 20 March 09
INDONESIA ORDERS TEMPORARY HALT AT BAYAN COAL MINE - REUTERS
Indonesia has ordered a coal mining unit of PT Bayan Resources to temporarily stop production for operating outside approved areas, a government off ...
Friday, 20 March 09
COKING-COAL PRICE STRUCK AT $115-$125, CITIGROUP SAYS - BLOOMBERG
BHP Billiton Ltd., the world’s largest miner, agreed with Nippon Steel Corp. to benchmark coking coal prices of $115 to $125 a metric ton, Cit ...
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