ARC's exploration license in Bima temporarily suspended
Tuesday, January 3 2012 - 02:31 AM WIB
The local authority of Bima regency in East Sumbawa, West Nusa Tenggara province has temporarily suspended the exploration license held by PT Sumber Mineral Nusantara (PT SMN), a subsidiary of an Australian mining company ARC Exploration Limited.
The exploration was temporarily suspended following a violent clash between the police and anti-mining protesters which left two people dead. The temporary suspension is effective from 23 December 2011 for a period of one year.
The company said earlier that exploration activities at Bima have been halted.
ARC and its Indonesian partner remain in full compliance with all legal and regulatory license requirements and will continue to seek a resolution to the current situation.
ARC will promptly update the market with any material information as it comes to hand.
By Ruly
Edited by Roffie Kurniawan