Category: Mining

Coal Journal

Newcastle coal futures, the benchmark for top consuming region Asia, consolidated above the US$400-per-ton mark and just 20 dollars shy of its record peak, supported by continued robust demand against a tightening market backdrop.

Read More

Ridwan Djamaluddin Respond

Ridwan Djamaludin, Director General of Minerals and Coal, has been made acting governor of Bangka Belitung. Many protested against the decision. Some see it as a conflict of interest as Djamaludin is known for being close to the Coordinating Minister for Maritime Affairs and Investment, Luhut B. Pandjaitan.

Read More

After Sumitomo Left

PT Vale Indonesia Tbk (Vale) had planned to expand its business by mining the capacity of a smelter in Pomalaa, Southeast Sulawesi. The Plan was put on a halt because its business partner, Sumitomo Metal Mining Co., Ltd (SMM), decided to stop the feasibility studies to construct a nickel smelter. Nevertheless, Vale’s management later announced that it had signed a Framework Cooperation Agreement (FCA) with a mining company from China, Zhejiang Huayou Cobalt Company.

Read More

ADRO Expanding into Europe?

The Russo-Ukrainian war has led to European countries blocking coal from Russia. Indonesian coal producers benefited because it has become an alternative for European countries. Garibaldi “Boy” Thohir’s company PT Adaro Energy Indonesia Tbk (ADRO), announced that it would look at the European coal market.

Read More

New Royalty Rules

The COVID-19 pandemic and the Russo-Ukrainian war have increased the price of commodities. Producers of coal and other minerals, such as nickel, are enjoying huge profits. The company owned by Garibaldi Thohir (Boy Thohir), for example, recorded revenue of US$3.99 billion and a net profit of US$933.49 million in 2021. Compared to 2020, Adaro’s net profit increased by 535% or more than five times. This 2021 performance is also the best in the last five years. In 2020, Adaro recorded a revenue of US$2.54 billion and a net profit of US$147 million.

Read More
error: Content is protected !!