Indonesia stands ground with foreign miners

  • World Premium
  • Friday, 09 Mar 2012

JAKARTA (Reuters) - Indonesia's government offered a clearer view on Friday of a new regulation that limits foreign ownership in mines to no more than 49 percent, saying the rule applies to existing as well as new contracts.

The comments by senior officials in the Ministry of Energy and Minerals could unnerve foreign companies owning mines in Indonesia, including Australian miners who have played down the impact of the rule signed last month by President Susilo Bambang Yudhoyono.

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