INDONESIA - New foreign ownership regulation slammed

Industry commentators say the Indonesian government’s new regulation which will cut foreign ownership in local mining projects from 80% to 49% will cost the sector billions by deterring international investors. The law is applicable to new contracts and means the foreign stake can be no more than 49% by the 10th year of production. 1

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INDONESIA - Strong Bising results at depth

Southern Arc Minerals has announced the results from an eight hole drilling program at the Bising target within the Mencanggah prospect at its key West Lombok property in Indonesia.  1

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INDONESIA - Tembang environmental plan accepted

Sumatra Copper and Gold says the environmental management plan and environmental impact assessment of its flagship Tembang gold-silver project in Sumatra have been accepted by the local authority.

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INDONESIA - Wetar forest rezoning approved

Proposed changes for the designation and function of forest areas in Maluku province have been approved by Indonesia’s Forestry Minister, paving the way for Finders Resources to continue development of its Wetar Copper Project.  1

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