JAKARTA (Reuters): Indonesia's energy and mineral resources ministry has issued a new regulation allowing mining production plans to be valid for three years, according to a document made public on Thursday (Sept 21)
The new rules, which take effect immediately, are aimed at improving efficiencies in mining production quota approvals, officials have said.
Indonesia issues production plans, known locally as RKAB, to determine how much ore miners can dig out over a period of time. Previously such quotas were set for mining activities for a one-year period.
In recent months, nickel smelter operators have seen surging prices of ores and imports of nickel ore from the Philippines, as local miners run out of production quota.
Indonesian officials said last month that the government had reverted to an older approval process due to an ongoing investigation into illegal mining activities, causing delays in approvals of production quotas.