Category: Mining
A Geothermal Holding Company in the Works
The Ministry of State-owned Enterprises (BUMN) plans to establish a holding company to manage geothermal energy this year. The plan is to merge three BUMN entities, such as PT Pertamina Geothermal Energy (PGE), PT PLN Gas & Geothermal, and PT Geo Dipa Energi (Persero).
Read MoreTsingshan Steel & Freeport Indonesia
PT Freeport Indonesia (Freeport) ‘s plan to build a US$2.1 billion smelter in Gresik, East Java, was supposedly scrapped. It’s a piece of odd news given that the Directorate General of Minerals and Coal (Ditjen Minerba) of the Ministry of Energy and Mineral Resources (ESDM) previously told the press that Freeport had begun construction in Gresik, quoting 5 percent progress. We now have another piece of news: the smelter’s location has been moved to Weda Bay, Halmahera Tengah, Maluku Utara.
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Interview with Budi Gunadi Sadikin, CEO of PT Indonesia Asahan Alumina (INALUM)
State-owned company PT Indonesia Asahan Alumina has become the center of attention after it signed the Head of Agreement with PT Freeport Indonesia. We had the chance to sit for an interview with the CEO of INALUM, Mr. Budi Gunadi Sadikin on August 30. The following is the edited text of our interview.
Read MoreJonan: Buying Rio Tinto’s Participating Interest in Grasberg Is the Right Move
Talks on the divestment of Freeport Indonesia continues. The Ministry of Finance is still evaluating the 51 percent of shares to be acquired. But there’s increasing discussion on the possible purchase of Rio Tinto’s participating interest (PI) in Freeport Indonesia’s Grasberg mine.
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An Interview with A Special Staff of the ESDM Minister on Freeport Indonesia
The Central Government’s negotiation with PT Freeport Indonesia has not yet produced a final agreement. Both sides have not agreed on the price of the to-be-divested shares, and it’s not yet clear who would be the owner of the share (whether it’s going to be a State-Owned Enterprise, or regional government). President Joko “Jokowi” Widodo had since ordered the Minister of Energy and Mineral Resources (ESDM) Ignasius Jonan to form a renegotiation team. Earlier this week, we had the chance to speak to the special staffer of Minister Jonan, Mr. Hadi Djuarait (HD) to find out the latest state of affairs on the negotiation with Freeport Indonesia
Read MoreCorporate Actions to Watch
Vale Indonesia (INCO), Indonesia’s largest nickel producer, may need to scrap its plan to build a US$500 million smelter in Bahodopi (South Sulawesi) as its strategic Chinese partner, for now, backed away from the project due to falling nickel prices. Initially both sides agreed to form a joint venture for the establishment of the smelter.
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Government to Publish A Special Regulation for Freeport?
The giant American mining company PT Freeprot Indonesia asks the Government of Indonesia to publish a special regulation in light of the Company’s change of contract type from Contract of Work to Special Mining License (IUPK). The purpose of which is supposedly to guarantee investment security. “The Government is ready to publish several new regulations to support the implementation of Law No. 4/2009 on Minerals and Coal,” said the Secretary General of the Ministry of Energy and Mineral Resources (ESDM) Teguh Pamuji yesterday (August 7). But Teguh did not specify whether the regulations he mentioned will be as Freeport Indonesia requested.
Read MoreAmman & Lay Offs
After the implementation of Government Regulation No.01/2017 on the Mining of Minerals and Coal, PT Amman Mineral Nusa Tenggara (AMNT) made adjustments. Amman obtained a mineral export license on April 2017 but they have to report on the progress of their smelter construction.
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Mahakam Block Facts & Valuation
Minister of energy and mineral resources Sudirman Said promised to make decision on the future of Mahakam Block soon. What do we know about the block and its value?
Read MoreTargeting Freeport Indonesia Shares
PT Freeport Indonesia, operator of Grasberg gold-copper mine in Papua province, has reportedly agreed to divest 20.64% shares starting next year. PT Freeport Indonesia CEO Rozik Boedioro Soetjipto hinted value for 20.64% shares could be around US$4 billion. That much?
Read MoreITMG vs ADRO in Q3/14
Shares of Indo Tambangraya Megah (ITMG) gained 1.9% to Rp20075 on Tuesday (Nov 11) even though the coal producer reported substantial weakening in third quarter, when its net profit collapsed 59%.
Read MoreMineral Export Ban: Pains & Gains
How has mineral export ban implemented since January 2014 affected mining companies in the country? Take a look at reports from Freeport Indonesia, Vale Indonesia, Aneka Tambang, Cita Mineral Investindo, and Central Omega Resources.
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