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Indonesian Mining investment is Expected to Hit USD 2.5 Billion in 2011 - Dr. Ir. Bambang Setiawan

Posted on : 06 Jan, 2010

 

In an interview with Reuters, Dr. Ir. Bambang Setiawan, Director General of mineral, coal and geothermal at the energy and mining ministry, has commented that Indonesian mining investment is expected to hit USD 2.5 billion next year, up from USD 1.81 billion in 2009, supported by greater certainty after the introduction of new mining regulations.

 

Major global resource firms operating in Indonesia include Freeport McMoRan Copper & Gold Inc and Newmont Mining Corporation, but much of the investment was made decades ago.

 

Some foreign firms have already shelved investment plans since last year, partly due to uncertainties over the new mining law, which also includes contentious items such as shorter term mining permits rather than longer-term contracts of work.

 

Those who are keen to find out more on Indonesia's new mining law should attend the Asia Coal Power - Jakarta on 20-21 January, where panellist from Ministry of Energy & Mineral Resources (MEMR), Indonesia Coal Mining Association (ICMA), Bhakti Energy Persada Group, and more, will define the new regulation and it's impact on Indonesia's power scene.

 

For more information, contact Ms Lee Lin at leelin@cmtsp.com.sg.