"Renegotiation contracts are a normal thing but we do not want them to suffer any loss by the renegotiations," Energy and Mineral Resources Minister Jero Wacik said.Jakarta (ANTARA News) - The government hopes mining companies that have made a lot of profits in Indonesia will be willing to re-negotiate their contracts, a minister said.
"Renegotiation contracts are a normal thing but we do not want them to suffer any loss by the renegotiations," Energy and Mineral Resources Minister Jero Wacik said here on Tuesday.
According to informed sources, a number of companies have refused to re-negotiate their contracts such as PT Freeport Indonesia and PT Nabire Bakti Mining.
Among the companies that were said to be prepared to renegotiate certain articles in their contracts, are PT Newmont Nusa Tenggara and PT Vale Indonesia Tbk, formerly named PT International Nickel Indonesia Tbk. (Inco).
Companies that were willing to renegotiate all articles in their contracts were PT Koba Tin and PT Agincourt Indonesia.
Jero Wacik said re-negotiating mining contracts, especially those considered as generating too little benefit for the state or those signed 30 years ago, was something normal.
"So, when we ask for a renegotiation, please welcome it," he said.
The minister also said that Indonesia had been practicing democracy for a relatively short time so that demands for improvement in the welfare of workers and local inhabitants were also something normal.
However, he said, demands for better welfare must also be reasonable. This also applied tor PT Freeport workers, he added.
Jero said foreign investors who intended to operate in Indonesia for a long time should also listen to the local people`s voice.(*)
Editor: Heru Purwanto
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