JAKARTA: Government is currently negotiating the content of contract agreement for coal and mineral resources companies to provide optimal benefit to the state revenue.Director General of Mineral and Coal Thamrin Sihite said the renegotiation process is conducted against 118 companies comprised 42 contract work holder (KK) and 76 companies with Work Agreement for Coal Mining Enterprises (PKP2B).The directorate is currently renegotiating the validity period or contract duration, area and the amount of royalties.Several companies have agreed and its already adjusted with Coal and Mineral Law [No.4/2009]. We are now waiting for the new contract to be signed," he said today.According to him, the renegotiation process ran hard since it needs to adjust with the old contract regulation based on Law No. 11 year 1967 and turn into new regulation based on new Coal and Mineral Law.Several company contracts that being renegotiated includes KK PT Freeport Indonesia, PT Newmont Nusa Tenggara, and PT Inco.According to Coal and Mineral Law article 169 a, the KK and PKP2B that existed before the new law is applied remains applicable until its contract or agreement ends.Meanwhile, article 169 b stated that the regulation mentioned in article KK and PKP2B or refers to a alphabet is adjusted no longer than 1 years after the law is applied, except on state revenue. (t06/msw)

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