Feb 11, 2022 | Business, Mining
Giant coal miner Bumi Resources (BUMI) expects to raise Rp2.51 trillion from offering 34.49 billion new shares, to bondholders (private placement), for converting its bond debt into equity. It has set the exercise price for private placement at Rp73 per unit. Then...
Jan 26, 2022 | Business, Mining
The Indonesian Government will impose a progressive tax on nickel Pig Iron and ferronickel exports in 2022. Many nickel miners and companies that have built smelter plants feel that the progressive tax policy is damaging the investment climate. The Government...
Jan 20, 2022 | Business, Mining
We briefly spoke with the Director General of Mineral and Coal, Ridwan Djamaludin, on Jan. 19, regarding coal issues, exports, and contract extensions for PT Kaltim Prima Coal (KPC), a subsidiary of PT Bumi Resources Tbk under the Bakrie Group. Ridwan said that the...
Jan 17, 2022 | Business, Mining
The Indonesian Government believes that it has been thorough at lifting the coal export ban. With the new scheme, PLN is expected to enter into 5-year long-term contracts with coal companies. The expectation is that there will be no more supply problems. All coal...
Jan 14, 2022 | Business, Mining
The future of the largest coal mining concession in the country belonging to the Bakrie Group’s Kaltim Prima Coal (KPC) is uncertain. The contract expiration period for KPC’s coal mine ended on December 31, 2021. The renegotiation process started two weeks ago,...
Jan 10, 2022 | Business, Mining
We spoke briefly with the President Director of state-owned electricity company PT PLN, Dharmawan Prasodjo. He gave his assurance that the coal supply for this month was secure. “No obstacles and emergencies like before. It has been safe for the 20 days we...
Dec 21, 2021 | Business, Industries, Mining
Oil and gas firm Medco Energi Internasional (MEDC) reported an EBITDA of US$508 million in the first nine months (9M) to September of 202. It grew 25% year on year (y/y), mainly due to recovering commodity prices. Medco’s realized oil prices jumped 62% y/y to...
Mar 2, 2021 | Business, Industries, Mining
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...
Feb 9, 2021 | Business, Mining, News Group
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...
Sep 3, 2018 | Business, Mining
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...
