Jokowi’s East Indonesia Visit (1): Masela Block & Beyond
President Joko “Jokowi” Widodo is on his five-day domestic working visit to the country’s easternmost resource-rich provinces of Maluku, North Maluku, West Papua, and Papua. The President first stop was in Maluku, where he was asked to pay serious attention on local demands for 10% participating interest in the lucrative offshore oil and gas Masela Block developed by Inpex and Shell.
Berau Coal: From Risjad to Bakrie, then Widjaja
Sinarmas Group has formally launched an acquisition of Asia Resources Minerals Plc (ARMS), parent of PT Berau Coal Energy (BRAU) Tbk, for around US$150 million, around 10% the price paid by Bakrie Group & Recapital Advisors to Rizal Risjad and his friends six years ago.
Pressures to Change Foreign Ownership in Berau Coal: A Litmus Test!
Director of mineral and coal at ministry of energy and mineral resources has on April 23, 2015 sent a formal letter to owners of PT Berau Coal, which signs coal contract of coal (PKP2B) with Indonesian government, to immediately divest 51% shares in the Company to Indonesian participants.
New Leaders at Energy & Mineral Resources Ministry
We have recently talked about I Gusti Nyoman Wiratmaja Puja, the new director general of oil and gas. Other than Mr Puja, President Joko ‘Jokowi’ Widodo has appointed three other director generals and secretary of the ministry of energy & mineral resources. Who are they?
Bright Spots of Indonesian Economy: Copper & Gold?
Tired of depressing news on Indonesian economy? Well, you might have to look deeper into Indonesia’s copper and gold industry. We understand that some were not convinced because gold price was still hovering around US$1200 per ounce. Dr. Copper, however, has gained significantly in recent weeks. Will it help Indonesian economy?
Bauxite Smelters So Far (1): Hongqiao – Harita Group
Other than chemical grade alumina (CGA) built by state-owned mining company PT Aneka Tambang (ANTM) Tbk, there are some companies with serious efforts to build bauxite smelters in Indonesia to respond government’s policy, which bans export of mineral ores since January 2014.
Rally of Commodities & Related Shares
WTI crude oil advanced 2.67% to US$62.01 per barrel in Asian trading, reportedly as US crude supply glut eases. The benchmark July contracts of crude palm oil (CPO), meanwhile, ended higher by more than 1% to RM2183 per ton on Bursa Malaysia Derivatives Wednesday (May 6).
Market Snapshots: Metals & Coal
Composite index of Indonesia Stock Exchange (IDX) returned to positive territory within one hour of trading Wednesday (May 6), thanks to the surge of metals-related shares and blue chip stocks. Rally in crude oil has also lifted resources stocks in most part of the world.
Nickel Smelters So Far (2): China Hanking
Out of so many companies announcing plans to build nickel smelter after implementation of mineral ore export ban in January 2014, China Hanking Holdings Limited, a company listed on the stock exchange of Hong Kong, might be considered among serious players. Why?
Wiratmaja Puja Named New DG of Oil & Gas, SKKMigas Appoints New Deputies
After months of selection process, President Joko ‘Jokowi’ Widodo has finally appointed IGN Wiratmaja Puja as new director general of oil and gas at energy and mineral resources ministry.