NEWS

MEMR secures nine winners in mining block auction

MINISTRY OF ENERGY AND MINERAL RESOURCES BUILDING Business/Himawan L Nugraha

The Ministry of Energy and Mineral Resources (ESDM) has secured 9 auction winners of 21 mining business permit areas (WIUP) for metal and coal minerals that opened in the second half of last year.

The auctioned blocks are spread across eight provinces consisting of gold, nickel, copper and coal commodities.

Director of Mineral and Coal Program Development of the Ministry of Energy and Mineral Resources Ing Tri Winarno said there were 9 WIUP that had completed the auction process. The rest, Tri said, the auction round was declared a failure.

“We can say that 9 are almost complete, 7 of which have been determined by the winning decree,” Tri said during a press conference in Jakarta, Tuesday (1/16/2024).

Regarding the failed WIUP auction, Tri said his ministry would continue to evaluate the bids and blocks submitted to the business entity.

However, several business entities were declared not to have passed the prequalification for the two-wave WIUP auction.

“It could be that there are enthusiasts but they do not pass the prequalification period, but there could also be those who are not interested, we are currently evaluating,” he said.

Following the enactment of Law No. 4/2009 on Mineral and Coal Mining (Mineral and Coal Law) on January 12, 2009, this two-round WIUP auction is the first auction that the government has proposed.

Tri said his ministry collaborated with the Junior Attorney General for Civil and State Administration or JAM Datun in the WIUP auction process. He made sure the whole series of auctions was conducted professionally.

“If there are other parties who raise objections, please respond during the rebuttal period,” he said.

Image source >>> Bisnis/Himawan L Nugraha

Source >>> ESDM Secures Nine Winners of Mining Block Auction (bisnis.com)