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UPDATE 1-Indonesia Issues New Mining Regulations-official
Feb 12,2010 11:50CST
industry news
Source:SMM

JAKARTA, Feb.12 -- Indonesia has issued two new regulations on mining areas and mining businesses under a new mining law to allow firms to start obtaining mining permits, Bambang Gatot Ariyono, director of coal and mining business at energy and mining ministry, told reporters on Friday.

 The new regulations should allow investors to obtain new mining permits and speed issuance for existing investors which would help boost flagging investment in the sector.

 "The regulations were issued yesterday but will be applied retroactively from February 1," Ariyono said.

 The government had stopped issuing new mining permits ahead of the introduction of the regulations.

 The regulations will also allow the government to start tenders in mining areas.

 (Reporting by Fitri Wulandari; Editing by Ed Davies)

mineral resources
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