INTERCEPTS Wed 20/08/2014

Indo ownership risks manageable

14th Mar 2012

SYDNEY, Mar 14 – Diversified energy company Jatenergy believes it can manage the regulatory risks that might affect its Indonesian projects following the publication of amendments to the foreign ownership of mines.

Local ownership requirements, currently 20%, will be increased progressively after the fifth year of commercial production to reach 51% after 10 years.

Jatenergy says the mining licences for its smaller East Kalimantan coal operations, Jongkang I and II mines and the Atan Bara development, are held by local companies and should not be affected.

The company is purchasing the potentially larger Katingan project in Central Kalimantan by acquiring 80% of local company PT Coal Soil Brik, which is being converted into a foreign investment vehicle.

 

HighGrade

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