Media widely reported two days ago that Iranian oil firm Nakhle Barani Pardis and Indonesia’s PT Kreasindo have signed agreement to build a US$3 billion oil refinery in Indonesia. This morning, media quoted vice minister of finance Bambang Brodjonegoro, that six...
EMP Holdings Singapore Pte Ltd, subsidiary of Energi Mega Persada (ENRG), signed the acquisition of 49% shares in EMP International (BVI) Ltd held by Owen Holdings Ltd for Rp2.31 trillion on August 1st, 2013. ENRG shares rallied to above Rp110 for several days, but...
Thermal coal prices continue to decline. Both Indonesian benchmark price and Newcastle weekly spot index declined from January 2014, indicating weak recovery of the commodity. Changing dynamics in China threaten longer term prospect of the country’s demand for...
Newmont Mining and Freeport McMoRan might curtail Indonesian operations following disputes over export tax on copper concentrates. Gulf Mines Limited, meanwhile, claimed that Asia Minerals Corporation is excempted from the ore export ban. How about Peter...
PT Indo Muro Kencana, wholly-owned subsidiary of Straits Resources Ltd, has lodged a petition with the Indonesian Commercial Court to commence voluntary bankruptcy proceedings. PT Indo Muro Kencana is owner and operator of Mt Muro gold mine in Kalimantan. This follows...
Antam shares crashed from as high as Rp4500 in late 2007 to Rp1000 in late 2008, but then recovered to around Rp2500 in Q3/09. It moved in the range of Rp2000-2500 until January 2011, but has since dropped to below Rp1000 last July. The stock recovered to Rp1620 late...
Newcastle Port, the largest coal exporting terminal in the region, shipped out 3.07 million tons of coal in the week ended January 27, grew 13.7% from the previous week. Overall the port was busier, which might lead to higher volume of shipment this week. In the...
About 2,700 workers of a mining contractor for bauxite ore miner in West Kalimantan have been sent home following the mineral export ban effective January 12. Soon, 1,800 workers of the mine concession will also leave the job market. One company based in Hong Kong has...
It is official that companies like Central Omega Resources (DKFT) are not allowed to export nickel ores (usually with nickel content below 2%). Companies like Cita Mineral (CITA), subsidiary of Harita Group, are also banned from exporting bauxite ores. Hundreds of...
Minister of Finance Chatib Basri has issued Regulation No 6/PMK.011/2014 on January 11, 2014 about export tax of minerals exported pursuant to the new mineral policy (i.e. Minister of Energy and Mineral Resources Regulation No 01/2014 and Government Regulation No...
