Tag: BHP Billiton

Global Players in Extractive Industry

Indonesian extractive industry used to have global names in it. BP and BHP Billiton in coal, Newmont in gold-copper, and Rio Tinto in nickel. Bakrie Group took over BP and BHP’s thermal coal assets, while Adaro Energy took over BHP’s coking coal. Some groups acquired gold-copper-silver assets from Newmont. Medco/Panigoro for Newmont’s Batu Hijau, Martua Sitorus-Djarum for Martabe gold (indirectly), etc.

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Coal Journal

Thermal coal stays closer to US$106 per ton in international market, supported by, among others, weak output in China and United States. Energy and mineral resources Ignasius Jonan jokingly pointed to the relatively strong price behind willingness of mining companies to sign amendment of their respective coal contract of works (CCoWs). Adaro Indonesia and subsidiaries of Bayan Resources, as you know, have recently signed the amendments.

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