November 14, 2017 / 10:55 AM / a year ago

Indonesia amends contracts with 13 coal miners including Bumi, Berau

JAKARTA, Nov 14 (Reuters) - Indonesia has amended its Coal Contracts of Work (CCOWs) with 13 coal mining companies, including some of the country’s biggest producers of the fossil fuel, as part of a shift toward a new mining permit system.

Under the amendment, coal mining companies can apply for an extension under a Special Mining Permit (IUPK) up to 2 years before their current contracts expire.

The amendments also set out new terms for land rent and royalties.

Among the companies that signed contract amendments at an event in Jakarta on Tuesday were PT Bumi Resources Tbk units PT Kaltim Prima Coal and PT Arutmin Indonesia, as well as PT Berau Coal Energy Tbk and PT Kideco Jaya Agung.

Others include PT Barasentosa Lestari, PT Intitirta Primasakti, PT Juloi Coal, PT Kalteng Coal, PT Lahai Coal, PT Maruwai Coal, PT Pari Coal, PT Ratah Coal and PT Sumber Barito Coal. (Reporting by Wilda Asmarini; Writing by Fergus Jensen; Editing by Louise Heavens)

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