The Indonesian unit of Rio Tinto Ltd has announced that it will remain committed to a USD 2 billion nickel project in Indonesia’s Sulawesi island, although it is waiting for more clarity under a new mining law. Rio Tinto previously applied for a contract of work, but under the new law, along with other firms with applications underway, can continue the project with a mining permit. It also does not have to go through a tender process, although the government is currently drafting new regulations and has said new permits would not be approved until this was done.
