Indonesia, Canada to build mining cooperation<\/p>\n
JAKARTA (JP): The Canadian Embassy and the Indonesian Ministry
\nof Mines and Energy will cosponsor an international seminar on
\nmining to build cooperation and understanding between both
\ncountries in mining investment, the embassy said yesterday.<\/p>\n
\"I believe the seminar is an important step in building
\nCanadian-Indonesian relations, and will contribute to our mutual
\nunderstanding and trust in the mining industry,\" Ambassador Gary
\nJ. Smith said in a statement, adding the seminar would be held at
\nthe Horison Hotel on Nov. 3 and Nov. 4.<\/p>\n
Smith said the seminar would explore, among others, methods of
\nenhancing Indonesian-Canadian cooperation in mineral exploration
\nand mining and strengthening mutual understanding of mining
\ncultures and traditions, and mineral policies and regulations
\nbetween the two countries.<\/p>\n
The seminar will also explore Canada's capital markets and
\nregulatory frameworks for raising mining finances.<\/p>\n
Speakers at the seminar will include representatives from the
\nToronto Stock Exchange, the Vancouver Stock Exchange, the
\nProspectors and Developers Association of Canada, Natural
\nResources Canada and the Association of Indonesian Mining
\nProfessionals, the ambassador said.<\/p>\n
Indonesian-Canadian relations in the mining sector has
\ndeveloped strongly throughout Indonesia's mining history.<\/p>\n
One of the oldest and biggest mining company in the country is
\nnickel producer PT International Nickel Indonesia, a subsidiary
\nof Canada's Inco Ltd., operating in South Sulawesi.<\/p>\n
Canadian companies also account for 75 percent of the 164
\ncompanies applying for seventh generation contracts of work which
\nare being processed.<\/p>\n
However, relations were recently tainted by the Busang gold
\nscam which involved Canadian mining firm Bre-X Minerals and which
\nembarrassed the Indonesian government.<\/p>\n
Bre-X said last year it had discovered the world's biggest
\ngold resource in Busang, East Kalimantan, prompting several
\nmining giants and Indonesian politically well-connected
\nbusinesses to compete for stakes in the gold field.<\/p>\n
Bre-X collected a large fortune from the rising value of its
\nstocks until an independent analyst later found Bre-X's claim was
\na hoax. (jsk)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/indonesia-canada-to-build-mining-cooperation-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}