Palm Oil Journal No. 30/2015: Stronger Output
KPB Nusantara, the joint marketing office of state plantations, sold seven out of nine CPO packages (10,500 tons) auctioned off Tuesday (May 26) at Rp8530/Kg (10% VAT included), lifted by falling rupiah and higher prices in the futures market. Further appreciation of USD and downfall of commodities last night, however, might cap further gains.
Faisal Basri vs Hatta Rajasa & Suryo Sulisto on Bauxite
Faisal Basri, who gains public support for his works leading to the closure of Petral (trading arm of Pertamina), launched new war Monday (May 25). The economist openly pointed his fingers to Hatta Rajasa and Suryo Sulisto behind the ban of export of mineral ores, including bauxite.
Mining & Heavy Equipment: No Sign of Improvement
PT United Tractors (UNTR) Tbk’s Komatsu sold 203 units of equipments last month, dropped 44.5% from the same month of 2014, mainly due to continuing downfall of sales to mining industry.
Gulf Manganese & The Timor Smelter Project
ASX-listed Gulf Manganese Ltd revealed this morning its findings from the Timor Smelter Study regarding the development of a smelting facility to produce high carbon ferromanganese alloys in Timor Island, Indonesia.
Nickel Smelters to Watch: Bintang8
First unit of nickel smelter developed by Bintang Delapan Group and its Chinese partner will soon enter commercial production. President Joko ‘Jokowi’ Widodo is scheduled to inaugurate the smelter in the coming weeks or so.
Blackgold Natural & Indonesian Power Project
PT Samantaka Batubara, subsidiary of SGX-listed Blackgold Natural Resources Ltd has on May 21, 2015 entered into a non-binding memorandum of understanding with PT Nari Indonesia Forever for the development of coal-fired power plant in Indonesia.
First Oil-Gas Blocks Granted by Jokowi-Kalla Regime
The government has just signed production sharing contracts for 12 oil and gas blocks, consisted of eight conventional and four non-conventional blocks. This is the first batch of blocks granted out to various companies by Jokowi-Kalla administration.
Upcoming Gubernatorial Election in Central Sulawesi
Central Sulawesi is home to Vale Indonesia (current name of INCO), the largest nickel producer in Indonesia. The province will take part in the 2015 simultaneous regional elections on Dec. 9, 2015. And incumbent Governor Longki Djanggola, a politician from Prabowo Subianto’s Gerindra Party, will likely run in the election seeking his second term. Let’s look into the dynamics in the province ahead of gubernatorial election.
Q&A with ITMG CFO on 35,000MW Program
Like other coal producers, Indo Tambangraya Megah (ITMG)—controlled by Thailand-based energy company Banpu Plc—suffered from falling sales revenue and net profit in the first quarter of 2015 due to persistent weakness of coal prices in the seaborne market. What the Company will do next to deal with the situation?
ARMS/Berau Coal: Rothschild Drops Takeover Bid, Sinarmas Gets Closer
Shares of Asia Resource Minerals (ARMS) Plc dropped 8.5% in London Thursday (May 21) on thin trading volume as Nathaniel Rothschild dropped his plan with SUEK to acquire ARMS. The board of ARMS is now engaging with only Asia Coal Energy Ventures Limited—linked to Sinarmas Group.