REPUBLIKA.CO.ID, JAKARTA -- The green light is achieved in talks between PT Freeport Indonesia and Indonesian government. Coordinating Minister for Economic Affairs, Chairul Tanjung said that the US based mining company had agreed to negotiate related to mining regulations in Indonesia.

"Freeport agreed all articles written in the Mining Law and its regulation," Tanjung said after chairing a coodination meeting in his office on Monday.

This agreement has been reported by a negotiation team led by Deputy Minister of Energy and Mineral Resources, Susilo Siswoutomo. Tanjung hopes that formal agreement will be signed soon.

"We still have to ask for the approval in cabinet meeting," Tanjung added.

Government has announced two new regulations in January 2014 concerning the continuity of national mining company. First, Government Regulation (PP) No. 1/ 2014 on the implementation of mineral and coal mining. Second, Minister of Energy and Mineral Resources Regulation No. 1/2014 on the criteria of value added.

Mining company is also required to comply Law No. 4/ 2009 on the prohibition of mining companies selling raw material abroad.

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