heNewswire - Baru Gold Corp. (TSXV:BARU) (OTC:BARUF) (“Baru” or the “Company”) wishes to affirm its ownership rights of the Sangihe Gold Project in response to recent media reports of the Indonesian government revoking mining permits in the country and provides information on a lawsuit recently filed in Indonesia by the Company’s subsidiary PT Tambang Mas Sangihe (“TMS”).
Ownership Rights of TMS
Indonesia’s Investment Minister Bahlil Lahadalia recently announced the Investment Ministry (the “Ministry”) had revoked 2,065 permits covering more than 3.1 million hectares (7.66 million acres) of land across the country to tighten the sector’s governance and land redistribution. This follows Indonesian President Joko Widodo’s decree in January 2022 ordering thousands of mining, plantation and forest-use permits be revoked due to non-compliance or inactivity. The action being taken by the Ministry has no impact on Baru or its operations.
Baru’s permits and licences have not been revoked and remain valid. Baru is compliant in all respects, with the AMDAL (environmental) assessment and Indonesian feasibility study. Most recently, the Company secured its operation and export licence for the mine site.
The Company continues to conduct its daily activities at the site and on the island. The Company continues to generate jobs, hiring locals to fill these positions. Construction is underway on the heap leach pad and a drilling program has been planned. The Company does not anticipate its permits or licences will be affected by the Ministry’s mandate.
Concerned stakeholders and investors are invited to contact the Company directly at info@barugold.com or kevin@jeminicapital.com for accurate information regarding the Sangihe Gold Project.
Lawsuit Filed by TMS
The Company also wishes to provide information on a recent lawsuit filed by its subsidiary, TMS. The lawsuit has no connection to the ownership rights above.
On August 24, 2022, TMS filed a lawsuit in Jakarta against multiple parties including President Joko Widodo; the Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan; National Police Chief Listyo Sigit Prabowo; Minister of Law and Human Rights Yasonna H. Laoly, Komnas HAM; Regent of Sangihe Islands; Mardi Posumah; Grace Kapal; Sonny Posungulah; and Andri Mailoor. TMS is seeking damages to compensate for material losses amounting to US$37 million and Rp. 31.9 billion; and immaterial losses of Rp. 1 trillion.
Baru Gold CEO, Terry Filbert, commented, “TMS holds a valid production/operation licence which has the legal right to explore, construct, and produce gold on the island of Sangihe. To clarify, the island is approximately 71,000 ha and our licence for exploration covers 42,000 ha. TMS has applied to have the exploration area reduced to 25,000 ha. Our exploration activities have been conducted on less than 10% of our licenced area and construction has commenced on a small 65 ha parcel. Our construction activities have been continually delayed by a group supported by illegal miners, whose numbers have expanded significantly since the re-start of operations on the island. TMS has received little to no support from the local police or government departments for operational activities or to ensure the safety of our employees and suppliers. Inadequate effort has been made by local officials to close the illegal mining operations on the island. Despite these obstacles, TMS continues to move ahead with its planned activities. Although this lawsuit does not affect our daily operations at the Sangihe Gold Project, we hope it will draw attention to the situation so action can be taken and TMS can be compensated for the economic losses it has incurred.”
Source: https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2203-tsx-venture/baru/126909-baru-gold-affirms-land-ownership-of-the-sangihe-island-gold-mine-project-contract-of-work-and-provides-information-on-lawsuit-filed-by-tms.html
