Mineral Processing Investments Update
Despite prolonged weakness in metal prices, investors continue to pouring money in the country’s mineral processing industry. Sumatra Copper & Gold Plc, listed on ASX, but controlled by Indonesians, for example, has commenced open pit mining at Tembang gold-silver project in Sumatra with first gold pour during the fourth quarter of 2015.
GR 23/2015 on Aceh Oil & Gas: Those Affected
President Joko ‘Jokowi’ Widodo has on May 5, 2015 signed Government Regulation No. 23/2015 about management of oil and gas assets in Aceh province. Politically, Jokowi-Kalla administration gains something, because the regulation has been delayed for almost eight years by the previous administration of SBY.
Palm Oil Journal No. 34/2015: El Nino is Coming…
Australia’s Bureau of Meteorology released a statement titled ‘El Nino is Steadily Strengthening’ on Tuesday (June 9). The Bureau confirmed the El Niño in the tropical Pacific is continuing to strengthen.International climate models surveyed by the Bureau of Meteorology suggest further warming of the tropical Pacific is likely, with sea surface temperatures forecast to remain above El Niño thresholds for the remainder of the year.
Barki Enters Medco Energi?
PT Medco Energi International Tbk (MEDC) is now a company with market capitalisation of Rp9 trillion or around 73% of its equity as at March 31, 2015. Encore Energy Pte Ltd, a joint venture between Panigoro family and Mitsubishi Corp, currently is the largest shareholder with 50.7%.
Energi Mega to Sell One Oil Block
Oil and gas company PT Energi Mega Persada (ENRG) Tbk, controlled by Bakrie Family, is reportedly in talks with some investors regarding divestment of its ownership in one oil and gas block.
ARMS/Berau: Sinarmas Revises Up Offer, Rothschild Gives Up
Asia Coal Energy Ventures Ltd (ACE) has revised up its cash offer for shares in Asia Resource Minerals Plc (ARMS), parent company of Berau Coal Energy (BRAU), while Nathaniel Rothschild decided to leave the game.
Palm Oil Journal No. 33/2015: The Rally
The benchmark August 2015 contracts of crude palm oil (CPO) advanced almost 1% to RM2340 per ton Friday (June 5) on Bursa Malaysia Derivatives. In Jakarta’s physical market, KPB Nusantara, the joint marketing office of state plantations, sold CPO packages in the range of Rp8769-8929 per Kg (VAT 10% included).
Eagle High Plantation: Rajawali + Malaysia
Some media outlets quoted sources that Rajawali Corpora, controlled by tycoon Peter Sondakh, would sell portion of its shares in plantation firm PT Eagle High Plantation (BWPT) Tbk to the likes of Cargill. Our sources, however, pointed to a Malaysian plantation giant as strategic partner.
Q&A with Adaro Energy on Electricity Projects
Negative sentiments against coal producers dragged down valuation of Adaro Energy (ADRO). The stock is now valued way below its equity. Like other coal producers, Adaro Energy sees potential growth in domestic consumption from the newly launched 35,000 MW program.
Oil & Gas Journal
Indonesia Crude Price (ICP) went up to US$61.86 per barrel in May 2015, higher than US$57.58/barrel in April, due to decline in US oil inventory. OPEC’s oil inventory also reportedly fell to 27.17 million barrels per day in May, down 0.03 million barrels per day compared to April.