Rabu, September 14, 2022

Govt. Adjusts WIUP and WIUPK Data, Information Compensation Data and Information Pricing Calculations

In an attempt to attract further investment to the mining sector, the Minister of Energy and Mineral Resources ("Minister") has decided to readjust the calculation formula that applies in relation to compensation pricing for Mining Business License Areas (Wilayah Izin Usaha Pertambangan – "WIUP") and Special WIUP ("WIUPK") information and data ("Formula") through the issuance of Decree No. 224.K/MB.01/MEM.B/2022 ("Decree 224/2022").
Data and information relating to WIUP and WIUPK comprise the following elements: 1) Metal or coal mineralization indication data; 2) Data on potencies and/or reserves relating to the matters set out in point (1); and 3) Exploration, resource and/or reserve reports.
In terms of the applicable Formula, Decree 224/2022 introduces the following: KDI = {C x [(A₁ x H₁ x M₁) + … + [(A_n x H_n x M_n)]} + {V x [(D₁ x P₁) + … + (D_nx P_n)]}.
The above Formula breaks down as follows: 1) KDI = compensation data and information; 2) C = Data relevance coefficient; 3) A = Exploration area in hectares; 4) H = Exploration area price; 5) M = Area maturity; 6) V = Data valuation; 7) D = Data type; 8) P = Data price; and 9) n = amount of data.
Decree 224/2022 has been in force since 8 September 2022.

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In an attempt to attract further investment to the mining sector, the Minister of Energy and Mineral Resources ("Minister") has decided to readjust the calculation formula that applies in relation to compensation pricing for Mining Business License Areas (Wilayah Izin Usaha Pertambangan – "WIUP") and Special WIUP ("WIUPK") information and data ("Formula") through the issuance of Decree No. 224.K/MB.01/MEM.B/2022 ("Decree 224/2022").
Data and information relating to WIUP and WIUPK comprise the following elements: 1) Metal or coal mineralization indication data; 2) Data on potencies and/or reserves relating to the matters set out in point (1); and 3) Exploration, resource and/or reserve reports.
In terms of the applicable Formula, Decree 224/2022 introduces the following: KDI = {C x [(A₁ x H₁ x M₁) + … + [(A_n x H_n x M_n)]} + {V x [(D₁ x P₁) + … + (D_nx P_n)]}.
The above Formula breaks down as follows: 1) KDI = compensation data and information; 2) C = Data relevance coefficient; 3) A = Exploration area in hectares; 4) H = Exploration area price; 5) M = Area maturity; 6) V = Data valuation; 7) D = Data type; 8) P = Data price; and 9) n = amount of data.
Decree 224/2022 has been in force since 8 September 2022.

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