September 24, 2012 / 7:36 AM / in 5 years

Indonesia govt eyes increasing royalties paid by some coal miners

JAKARTA, Sept 24 (Reuters) - Indonesia’s government is considering increasing the royalties that coal miners holding “IUP” business licenses pay to 13.5 percent from 5-7 percent now, an official at the mining ministry said on Monday.

IUP licenses are normally held by smaller or newer miners and so the move will not affect major miners with long-standing Coal Contract of Work (CCoW) licenses, such as top producer PT Bumi Resources, which already pay 13.5 percent.

“It’s something we’re thinking about,” Edi Prasodjo, coal mining chief at the ministry, said on the sidelines of a conference. (Reporting by Fergus Jensen; Writing by Neil Chatterjee; editing by Miral Fahmy)

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