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 MoreRidwan 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 MoreFreeport Smelter Completion in 2023?
PT Freeport Indonesia has made considerable progress. The construction of its smelter in Gresik, East Java has reached 27 percent.
Read MoreAfter 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 MoreVale-Sumitomo Nickel Smelter Project in Pomalaa Fails?
PT Vale Indonesia’s smelter project in Pomalaa has reportedly failed to proceed. Akira Nozaki, President & Representative Director of Sumitomo Metal Mining, said on Monday, April 25, that Sumitomo Metal Mining Co., Ltd (SMM) had decided to stop the ongoing feasibility studies for the nickel smelter construction in Pomalaa.
Read MoreUpdate on the Delegation of Mining Licensing Authority
he Ministry of Energy and Mineral Resources (ESDM) is to delegate the authority to grant copper, nickel, and manganese mining permits to the regions with the promulgation of Presidential Regulation (Perpres) Number 55/2022. Where are things now?
Read MoreHRUM’s Expansion in Coal and Nickel Mines
Kiki Barki’s PT Harum Energy Tbk (HRUM) continues to target coal production growth in 2022. HRUM believes that energy consumption from coal will still be high in the years ahead, even though the world paradigm has slowly begun to shift toward green and environmentally friendly energy.
Read MoreADRO 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 MoreCorporations to Watch
Nickel miner Vale Indonesia (INCO) produced 13,827 metric tons of nickel-in-matte in the first quarter (Q1) of 2022, which declined 9% y/y, and it fell 19% from the previous quarter (Q4 of 2021).
Read MoreNew 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 MoreRoadmap for Rare Earth Development To Be Completed by the End of 2022
Commission VII of the House of Representatives (DPR-RI) has officially asked the Ministry of Energy and Mineral Resources (ESDM) and the Ministry of Industry to compile a road map for developing the Rare Earth Metals industry with domestically developed technology.
Read MoreSmelter Projects Stuck Because of PLN?
Smelter constructions have not progressed smoothly. Lack of funds has often been cited as a reason. Funding issues aside, there is also a problem with the electricity supply from the State Electricity Company (PLN).
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