The recently-created Directorate for Mining Promotion and Sustainability will be in charge of identifying the regions with the mining highest potential.
The Swiss asset manager and commodities trader will use blockchain technology to account for trades and aims to offer investors the option to use its coin as a digital currency.
Agreements give a majority stake in the giant Grasberg copper and gold mine to a local state-owned firm, becoming the country’s biggest divestment by a foreign resources company.
Two major shareholders of Brazilian mining company Vale SA are likely to reach an agreement on Wednesday to pay 2.82 billion reais ($692 million) to Eletron to settle a dispute over Vale shares.
The illegal action saw a group of locals spend seven days blocking the only access to the mine in protest for what they call “repetitive abuse” to community members and increasing pollution of their land and only water source.
