PT Bayan Resources Tbk (BYAN) terminates mining activities in Long Bangun District, West Kutai, East Kalimantan, over an area of 5,000 hectares (Ha). The mining area is handled by PT Mahakam Bara Energi (MBE) and PT Mahakam Energi Lestari (MEL), subsidiaries of BYAN.
In the information disclosure quoted Thursday (23/2), Jenny Quantero, Director of Bayan Resources, claimed that based on the Report of Mineral Resources and Coal Reserves of Open-Cut Mining Area dated April 1, 2022, the coal reserves of MBE and MEL are down to nil. “MBE and MEL will not resume its mining activities in their work areas,” she confirmed.
The termination of mining activities will not be entailed with a lawsuit regarding the mining termination decision issued by East Kalimantan Governor on July 16, 2018.
Prior to this, the company had received a copy of East Kalimantan Governor’s decree regarding the termination of Exploration Mining Business License on July 4 and 16, 2018.
According to Quantero, the decision letter regarding the mining termination was issued at the time MBE and MEL were under suspension of exploration activities. The suspension decision letter was issued by East Kalimantan Governor on July 1, 2015, and was extended on July 22 and 23, 2020.
MBE and MEL then submitted the suspension extension request to East Kalimantan Governor as the suspension came to an end. Furthermore, there was also transfer of power over mineral and coal mine management from regional to central government, as dictated in Act No.3/2020 regarding the Amendment of Law No.4/2009 regarding Mineral and Coal Mining.
Source: https://www.idnfinancials.com/news/46102/byan-mining-activities-west-kutai
