Nuclear power firm ThorCon International Pte Ltd is the closest among nuclear energy firms to start construction of Indonesia’s first nuclear power plant. ThorCon has officially received approval for the Kelasa site evaluation plant and the site evaluation management system plan from nuclear regulator, BAPETEN. 

What a waste. Freeport McMoRan, co-owner of PT Freeport Indonesia, recorded average gold price off US$3,260 per troy ounce in the first half of 2025, jumped by 46% from the corresponding period of 2024, thanks to global economic uncertainties stemmed from Trump administration’s tariff policies.

Newcastle thermal coal ended at US$114.9 per ton last Friday (Aug 1). The commodity gained 24% from its recent low in late April, but still losing 20.3% year-on-year due to a combination of high supply in seaborne market and demand correction in key importing countries like China and India. 

The devil is indeed in the detail. It looked straightforward when Indonesian government announced its concessions to the Trump administration, including importing more oil and gas products to reduce the trade deficit. Turned out that the country should invest US$8 billion to build modular refineries, which will process the projected crude oil import. 

Indonesia officially has tens of CCS/CCUS projects, but only two projects that can be considered entering advanced development stage. More companies pledged to speed up the projects amidst growing interest from global private equity firms.

PJBumi Bhd, through its subsidiary PT Petra Jaya Bumi by PT Inovasi Gerakan Masyarakat (INGRAM) or popular as Bank Sampah Bersinar, has secured a contract for the supply of its ADiRA BioReactor technology to process up to 20 tons per day of municipal solid waste in Indonesia.

As of June 2025, Indonesia’s oil lifting reached 578,000 barrels per day, still way below target stated in the State Budget 2025 (605,000 bpd). Oil production increased in July from commercial operation of two small fields in Riau Islands, but not enough to fill the gap.

We have talked about nuclear power plant project since Soeharto regime, which ended in 1998. Talks intensified in recent years, particularly since Prabowo Subianto took the office in October 2024 with steady interest from global technology powers: USA, France, Russia, China, and Japan.

Newcastle thermal coal retreated to below US$110 per ton this week on ample supply, concerns about demand in Japan and South Korea related to uncertainties on trade talks, and strong supply of renewable energy in China. 

Growing demand for ‘green nickel’, especially in the West, has pushed nickel processing centers in Indonesia to gradually reduce consumption of fossil fuel by transitioning to renewable like solar or at least cleaner energy source like natural gas.