Tue, 05 Oct 2010

Jakarta (ANTARA News) - The government has issued an energy and mineral resources ministerial decisiion no 17 of 2010 on mineral and coal sales check prices.

"The regulation took effect September 23, 2010, must be followed by all mineral and coal producers," Mineral and Coal Director General of the Ministry of Energy and Mineral Resources Bambang Setiawan said here Monday.

Bambang said the regulation as stated in article 27, did not apply to companies which had signed spot and term sales contracts and conducted renegotiations on price adjustment required by the minister and director general.

The producers who had already signed spot sales contracts in not later than six months are required to adjust the ministerial decision.

In the meantime, those who had signed term sales contracts will be given not more than 12 months to adjust them with the ministerial decision.

Bambang said for the state, the check prices will serve as a reference in setting state revenue, by BPK (State Audit Board) and BPKP (Financial and Development Supervisory Agency).(*)