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Baru Gold Corp V.BARU

Alternate Symbol(s):  BARUF

Baru Gold Corp. is a Canada-based mineral resource exploration company. The Company is focused on developing and producing precious metals projects in Indonesia. The Company’s focus is on developing precious metals projects with significant resource upside potential and near-term production capabilities. The Company’s Sangihe Gold project mineral tenement consists of one block covering the southern half of Sangihe Island, located between the northern tip of Sulawesi Island (Indonesia) and the southern tip of Mindanao (Philippines). The Sangihe Project covers 42,000ha; this includes the Bawone, Binebase prospects on the eastern part of the island and Taware prospect in the south-central region with infrastructure in place. The Company has a 70% interest in the Sangihe project.


TSXV:BARU - Post by User

Post by brodeuron Mar 30, 2024 5:30am
135 Views
Post# 35960845

BARU.v - mining permit pending

BARU.v - mining permit pendingSaw this article in ceo.ca. Sounds like there is precedent and permit highly likely to allow mining?

https://kliktimur.com/beranjak-dari-kasus-gpk-tambang-pulau-kecil-terluar-oleh-mk-boleh-di-expolitasi-pt-tms-bakal-kembali-masuk-dengan-catatan/ Jakarta, Kliktimur.com – The Sangihe mining controversy, which has never ended because of lawsuits from a group of parties, looks like it will soon reach a common ground, following the Constitutional Court (MK) issuing important considerations in the decision on PT Gema Kreasi Perdana's (GKP) application, that mining activities in Indonesia's coastal areas and small islands are actually permitted as long as they do not violate the guidelines as regulated in Law (UU) Number 27 of 2007 concerning Management of Coastal Areas and Small Islands (UU PWP3K), last Thursday (21/3 ). The background to the submission of a request for a Judicial Review to the Constitutional Court by the GPK company, due to responding to the results of the Supreme Court (MA) decision in December 2022 which caused losses for the company similar to those experienced by PT. The Sangihe gold mine has been closed and cannot operate until now. According to the MK, the prohibition on mining activities in coastal areas and small islands is absolute. This condition underlies PT GKP's request for material review to the Constitutional Court which demands legal certainty regarding the meaning of the PWP3K Law, because the results of the Supreme Court's decision are deemed to be in conflict with Articles 28D paragraphs 1 and 28I paragraph 2 of the 1945 Constitution. In considering the Constitutional Court's decision, the Constitutional Court Panel of Judges did not prohibit activities outside of the priority areas, including mineral mining activities in coastal areas and small islands. The Constitutional Court judges agreed to refuse to consider the norm provisions of Article 35 k of the PWP3K Law to be interpreted as an absolute prohibition, which should be interpreted as "permissible as long as the mandatory requirements are met". Therefore, the Constitutional Court Judge assessed that the company had not suffered any harm. So, on that basis, the request for material review regarding the legal ambiguity and uncertainty of the PT GKP PWP3K Law was rejected by the MK.Observing the Constitutional Court's decision, this means that PT. Sangihe Gold Mine (PT. TMS) in the same case, will be allowed to restart its activities, namely re-preparing infrastructure to immediately exploit the Bowone Tanah Mahamu mining area provided that it carries out what is stated in the PT work contract. TMS is especially committed to the concept of profit sharing and efforts to reforest/rejuvenate former mines. (Source deticfinance)
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