Unlike nickel smelters, which suffered from falling price and squeezed margins in the past two years, companies operating smelter grade alumina (SGA) in Indonesia reported strong profit margin in recent years, thanks to a relatively resilient price of aluminium.
Read MoreFaster growth of energy transition, particularly in China, has contributed to more demand for aluminium. As such, more companies have committed new investments in processing bauxite resources in Indonesia, especially West Kalimantan province.
Read MoreAluminium, a critical material for the world’s energy transition, ended higher by 1.23% to US$2,635 per ton for April 2025 delivery at the London Metal Exchange (LME) Thursday (Jan 16). Used in low-carbon technologies, including wind turbines and batteries, aluminium is among the best performing metals with 21% gain year-on-year.
Read MoreThe Government has set a target of increasing the electricity capacity in Indonesia to 71 GW in the 2025-2034 Electricity Supply Business Plan (RUPTL) with the majority fulfilled by new and renewable energy (NRE) sources. The RUPTL 2024-2034 reflects Indonesia’s ambition to accelerate the energy transition and the government’s commitment to supporting the global agenda to reduce carbon emissions.
Read MoreShares of Indika Energy (INDY) gained 6.64% to Rp1,605 on Thursday (Jan 9) as some anticipated positive impact from the company’s entry into gold mining business. Gold remains among the best performing metals with 32% gain year-on-year to US$2,670 per troy ounce this morning.
Read MorePalm oil futures declined further by 2.43% to MYR4,336 per ton Thursday (Jan 2) in Malaysia on weak trading from extended holidays of market participants, tradingeconomics.com reported. At home, environmental activists are irked by President Prabowo’s statement to expand plantation without necessarily afraid of deforestation allegations.
Read MoreIndonesia has great potential and opportunities in permanent carbon emission storage through CCS technology. The potential for carbon storage in Indonesia is currently estimated to reach 400 gigatons from oil and gas basins. This certainly presents significant business and investment opportunities for Indonesia.
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“In Indonesia, you’re not considered a conglomerate without ownership in gold mining,” one businessman once said. Salim-Medco Group, Saratoga-Merdeka Group, Rajawali Corpora, and Astra Group are now non-State players in the gold-copper. New player is coming: Hashim Djojohadikusumo, brother of president Prabowo Subianto.
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Prajogo Pangestu (owner of Barito Renewables) and Garibaldi ‘Boy’ Thohir were among conglomerates joining president Prabowo Subianto and his brother Hashim Djojohadikusumo in some business meetings in China. Hashim meanwhile was seen accompanying Burhanuddin Abdullah, long-time economic advisor of Prabowo and chairman of state electricity utility PLN, in witnessing the signing of green financing last week at the sidelines of COP29 in Azerbaijan.
Read MoreIn Washington DC, President Prabowo Subianto and US president Joe Biden have reportedly discussed possible partnership in the development of small modular reactor (SMR) technology in Indonesia. Far away in Baku, Azerbaijan, Prabowo’s brother Hashim Djojohadikusumo, in his capacity as leader of Indonesian delegation to COP29, talked about nuclear power as part of Indonesia’s transition to clean energy.
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