Timah questions government decision to revoke mining permit

IDX-listed tin giant PT Timah Tbk questioned the government?s decision to revoke the IUP mining permit of its huge 5,277 hectares concession in Central Bangka Regency, Bangka Belitung Province.

Timah Corporate Secretary Agung Nugroho was quoted by Kontan as saying Saturday that his company would soon meet with the government to discuss the revocation of the mining permit, which would affect the company?s business as it covers a huge area.

The Ministry of Energy and Mineral Resources has recently revoked 179 IUP mining permits based on decrees made by regency and provincial administrations.

Agung said that his company had previously talked to the regency administration, but was explained that the local administration did not revoke the mining permit of the aforementioned concession as it is already in clean and clear status.

He suspected that the revoked IUP permits were part of the voluntary reduction of Timah?s concession area. ?But the size is not that huge,? he said.

Other mining firms whose IUPs were revoked among others are PT Angso Dua Permai, PT Anugerah Cipta Permai, PT Tambesi Coalindo, and PT Cosmos Inti Mineral. (*)