Indonesia digs hole for itself with new mining laws

One evening in late September, Peter Wesser and his club of veteran minerals explorers met at Jakarta’s Hotel Kristal to swap stories and exchange news. Beer and roast beef were on the menu - on the agenda was trying to figure out how to stay in business.

For decades explorers have enjoyed a place on the cutting edge of the country’s mining boom as they scoured the earth for fresh mineral deposits, a process that can take years and cost hundreds of millions of dollars before payback.

via Business feed http://www.scmp.com/business/economy/article/1051422/indonesia-digs-hole-itself-new-mining-laws