Fight over Busang gold mine<\/p>\n
From Bisnis Indonesia<\/p>\n
A fight over the Busang mine between Bre-X Minerals Ltd.,
\nBarrick Gold Corp. and a private company has been raging for some
\ntime, while the government is appealing to the companies'
\ngenerosity for a 10 percent share.<\/p>\n
This resignation on the part of the government is strongly
\ndeplored by many sides who see the potential of the gold mine.
\nShare ownership dominated by the government would greatly benefit
\nthe people in line with Article 33 of the 1945 Constitution.<\/p>\n
The Minister of Mines and Energy says the government does not
\ndispose of enough money to invest a lot in the project.<\/p>\n
Mining consultants Transconsult Nusantaratama says the
\ngovernment should not be a shareholder because it may give rise
\nto a conflict of interests.<\/p>\n
I think the government has a very strong bargaining position
\nand should ask for a minimum share ownership of 50 percent like
\nit does for oil production sharing contracts.<\/p>\n
If this is not possible, a number of state-owned companies can
\nbe asked to form a consortium to join their capital for a 50
\npercent participation.<\/p>\n
If this is not feasible either, why not imitate Mr. Habibie's
\nidea of PT Dua Satu Tigapuluh which collects funds from all
\nstate-owned companies and the people?<\/p>\n
This type of company allows the collection of adequate funds
\nfor the Busang gold mine so that its yield is not profitable for
\nforeigners only.<\/p>\n
If this idea can be realized, the next step is the review of
\nthe position of the Freeport mines. The House of Representatives
\nshould fight for it.<\/p>\n
JAHJA<\/p>\n
Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/fight-over-busang-gold-mine-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }