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Indonesia Revokes Gold Mining Permit Amid Violence
January 28, 2012

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jchay
10:22am Jan 30, 2012

In Indonesia, mobs violence is the way to go! No need for sovereign laws permit investment security crap.. good bye, Moody's and Fitch!


Serigala-Berbulu-Domba
10:05pm Jan 29, 2012

It's somewhat surprising that the 'real reason' for these disturbances in Sumbawa has been identified by the press etc as a mining issue, when the reality is that it has nothing to do with mining per se, but is as a result of disatisfaction as to the outcome of a local election when 'money politics' carried the day, much to the chagrin of the folks who believe they should have won.

DrDez
3:51pm Jan 29, 2012

whats the bet they have found some... yes John correct

John Ralph
7:44am Jan 29, 2012

Find out who are sponsoring the protests and you will find out who wants to push out the mining company and take over the project for nothing. That is Indonesians reputation.

facepalm
7:17pm Jan 28, 2012

I see that investment upgrading is already producing results. Stay AWAY foreign investors is the message being sent here.


Indonesia on Saturday revoked a gold mining exploration permit granted to an Australian miner following a series of violent protests against the project left two dead last month, reports said.

The decision came after thousands of people on Thursday demonstrated in the city of Bima on Sumbawa Island, near the popular tourist destination of Bali, with government buildings set on fire.

“We decided to revoke permanently the permit for the sake of security stability here,” Bima district head Ferry Zulkarnain told local television station MetroTV.

“We’re ready to face any possible legal lawsuit by mining companies against the revocation,” he told state news agency Antara.

In 2010, West Nusa Tenggara province granted exploration rights to Australian Arc Exploration (ARX) and local miner Sumber Mineral Nusantara, a project that covers some 250 square kilometers of the island.

Critics worry the project would have a negative environmental impact.

In December police fire on anti-mining protesters in Bima, leaving two dead.

ARX halted its early-stage exploration activities following the violence.

Agence France-Presse