Indonesia revokes 50 bauxite mining business licenses
2022-05-06 13:39:08 [Print]
Bahlil Lahadalia, the Ministry of Investment/ Investment Coordinating Board of Indonesia (BKPM), announced that the investment acceleration task force has officially revoked 1,118 Mining Business Licenses (IUPs) as of April 24. The revoked IUPs covered an area of 2,707,433 hectares.
Bahlil detailed that the 1,118 IUPs include 102 IUPs for nickel, 50 IUPs for bauxite, 271 IUPs for coal, 237 IUPs for tin, 14 IUPs for copper, 59 IUPs for gold, and 385 IUPs for other minerals. President Joko Widodo in January this year announced that he would revoke 2,078 IUPs.
The government explained that these IUPs were revoked for not being used properly, like being mortgaged in a bank or traded, which is not allowed.
Bahlil detailed that the 1,118 IUPs include 102 IUPs for nickel, 50 IUPs for bauxite, 271 IUPs for coal, 237 IUPs for tin, 14 IUPs for copper, 59 IUPs for gold, and 385 IUPs for other minerals. President Joko Widodo in January this year announced that he would revoke 2,078 IUPs.
The government explained that these IUPs were revoked for not being used properly, like being mortgaged in a bank or traded, which is not allowed.
Bauxite Indonesian 47%min CIF China
Unit:USD/dt
African bauxite producers' sales to production ratio statistics by country by month
Unit: %
