Pretty much as predicted, Indonesia’s nickel production cut is not applicable across the board. PT Weda Bay Nickel (WBN), a company co-owned by Tsingshan (China), Eramet (France), and Antam (Indonesia), and other nickel miners have received less than 30% of their requested quotas, but clearly not applied to Hengjaya Mine, subsidiary of ASX-listed Nickel Industries Ltd (NIC).

Indonesia’s energy diplomacy with the United States is entering a delicate phase. After granting long-term operational certainty to Freeport Indonesia—controlled by Freeport-McMoRan—Jakarta is now signaling openness to extending ExxonMobil’s role in the Blok Cepu.

A geothermal specialist company from the United States, Ormat Technologies through its subsidiary PT Ormat Geothermal Indonesia has been awarded the Telaga Ranu Geothermal Working Area (WKP) in West Halmahera Regency, North Maluku, following a competitive tender process.

President Prabowo Subianto regularly talked about protecting Indonesian natural resources and preventing ‘leakages’. Yet, when it comes to Grasberg, the world’s largest gold and copper mine, his government has just signed a memorandum of understanding regarding aa life of resource extension of operating rights for PT Freeport Indonesia.

Palm oil and derivatives enjoyed nearly 28% growth in export to US$34.36 billion last year thanks to higher volume and average price of both crude palm oil (CPO) and palm kernel oil (PKO). How about this year?

PT Hasnur International Shipping Tbk (HAIS), a coal logistic and transportation company, booked net profit of Rp87.1 billion last year, dropped significantly by 28% from 2024 on lower sales revenues and higher interest expenses.

Newcastle thermal coal inched up 0.52% to US$116.7 per ton last Friday (Feb 13), reflecting 13.6% gain year-on-year. Indonesian government’s plan to curt coal production, and, accordingly, export might have contributed to the recent rally, but mid-long term outlook of the commodity remains unchanged.

Nickel soared close to US$19,000 per ton in mid January to respond Indonesian government’s plan to cut work plan and budget (RKAB) of nickel miners, but has since retreated to as low as US$16,889 this morning. 

Indonesian Nickel Industry Forum (FINI) estimated actual nickel ore production of 265 million tons, way below the approved work plan and budget (RKAB) of 379 million WMT. The country, accordingly, imported 15.84 million WMT of ores, mostly from the Philippines. That means total demand from nickel smelters was around 280 million WMT.

Hashim Djojohadikusumo, younger brother of President Prabowo, said on Wednesday that the President was so mad with the collapse of IDX composite index (IHSG) following decisions from global institutions like MSCI and Moody’s. On Monday and Tuesday, the president met national business leaders, including those heavily influencing the index. IHSG recovered almost 2% Wednesday with the return of foreign investors.