Jakarta places conditions on old coal contracts

摘要

The chief of Indonesia's directorate-general for minerals, coal and geothermal, Bambang Setiawan, has said that existing coal contracts agreed before the passage of the new minerals and coal mining law will be honored. However, it is clear that they will not escape modification as a result of the new law, which was approved by the legislature on December 16, and was signed by President Susilo Bambang Yudyohono on January 12. Setiawan acknowledged that the reactions to the passage of the new mining law have been mixed. He said that the directorate general's office is currently "preparing the government regulations" which will implement it. Setiawan said he is hopeful that the new Indonesian president - to be elected in July - will sign the four implementing regulations by October.