Home / Directory / List News / Detail News

BYAN sues BKPM over dwindling mining area

www.idnfinancials.com

Mon 11 Apr 2022, 10:10 AM

Share

Events

Five subsidiaries of PT Bayan Resources Tbk (BYAN), a coal mining company, files a lawsuit against the Minister of Investment/Chairman of Indonesia Investment Coordinating Board (lit. Badan Koordinasi Penanaman Modal Republik Indonesia/BKPM) in the State Administrative Court, Jakarta, regarding the shrinkage of its Mining Business License Area (lit. Wilayah Ijin Usaha Pertambangan (WIUP).

Low Tuck Kwong, President Director of Bayan Resources, confirmed that the said five subsidiaries filed a lawsuit in the State Administrative Court through its legal counsellor last week (8/4). “The lawsuit was initiated due to the issuance of the Decree of the Minister of Investment/Chairman of BKPM regarding the Shrinkage and the Approval of the Adjustment of the Mining Business License during the Exploration and Production Phases of Coals for those five subsidiaries,” he explained.

The subsidiaries in question are PT Bara Sejati (BS), PT Cahaya Alam (CA), PT Dermaga Energi (DE) dan PT Orkida Makmur (OM), and PT Sumber Api (SA). These companies are directly and indirectly owned by BYAN via Kangaroo Resources Pty Ltd.

According to Low Tuck Kwong, the issued decree caused the contraction of the mining area (WIUP) and the period of the production and exploration stages of BYAN’s subsidiaries. “Our five subsidiaries have not been able to continue to operate in the moment,” he claimed. However, the total area of those subsidiaries’ WIUP, which has shrunk following the decree, is yet to be specified.

Source: 
https://www.idnfinancials.com/news/42775/byan-sues-bkpm-dwindling-mining

Advertisement

Relate News

News
27 Apr 2023, 12:00 PM

Heavy Equipment Production Increases, Coal Mining Sector is Still a Support

industri.kontan.co.id
3346 Views
News
18 Sep 2024, 14:54 PM

PT Timah Allocates IDR 37 Billion to Enhance Tin Reserve Exploration

ANTARA/HO-Humas PT Timah Tbk
1149 Views
News
23 Jan 2023, 12:34 PM

Kobexindo Tractors (KOBX) Achieves 41% Increase in Heavy Equipment Sales in 2022

www.industri.kontan.co.id
2456 Views
News
12 Jan 2023, 12:23 PM

Samindo Resources (MYOH) Targets Overburden Removal Volume of 35 Million Bcm

2514 Views
Hello! We would like to talk to you.Please fill the details below to start chatting with us.