Although it is well known that coal will have to be phased out eventually if countries are going to meet their climate targets, it still carries an important weight to the economy during the transition if they are to be able to move over to more clean sources of energy.
China is still investing massively in coal projects outside its shores, notably in places linked to the Belt and Road project. One reason is to offload coal overcapacity as China cracks down on the polluting industry at home.
Freeport McMoRan’s (NYSE: FCX) first-quarter profit fell sharply from a year ago as Indonesian output of gold and copper slid as mining operations transition from an open pit to underground, the company announced Thursday.
Two years into the development of a major project, the Tujuh Bukit Project in East Java, Indonesia, mining firm PT Merdeka Copper Gold has become accustomed to setting an example in the mining sector.
Indonesian anti-graft investigators have charged the head of state-owned power utility PLN, Sofyan Basir, with bribery in connection to a coal-fired plant on the island of Sumatra. Sofyan was responsible for awarding contracts for the $900 million Riau-1 plant, whose construction has been suspended following a raft of corruption allegations and arrests.
Local authorities halted the April 11 screening of Sexy Killers in Mekarsari, Indramayu, saying the coal industry documentary was a form of hate speech that targeted the two presidential candidates, Joko “Jokowi” Widodo and Prabowo Subianto.
The World Bank's private-sector arm, the International Finance Corporation (IFC), has been quietly funding some of Indonesia’s most destructive coal mining companies despite its 2013 virtual ban on coal financing, a report says.
The Ministry of Energy and Mineral Resources (ESDM) revoked the export permit of three mineral companies because their smelter (processing and refining facilities) construction were below target.
A US hedge fund is set to do battle with Indonesia’s Widjaja family in a New York courtroom on Monday in a case that echoes past clashes between foreign investors and the powerful south-east Asian business empire.