Some of the leading names in Australian mining will be attending the Queensland Mining and Engineering Exhibition (QME) in Mackay, 26th – 28thof July. New technologies and methods of production within the mining sector will be the main focus throughout the exhibition’s agenda, as well as discussion for the future of the coal mining industry globally.
The Indonesian government has transferred contract for East Ambalat's oil and gas block, previously held by Chevron, to Pertamina, Jakarta Globe reported last week. Chevron gave up the block citing rising tensions in the maritime border areas between Malaysia and Indonesia.
State-owned oil company Pertamina has signed a memorandum of understanding ( MoU ) with Saudi Aramco to upgrade the capacity of the Cilacap refinery. The project is expected to be completed within six years.
Russia’s Rosneft, and Pertamina have paved way for long term partnership in multiple fields.
The two parties signed a framework agreement on cooperation. They have agreed to perform a bankable feasibility study to finance the project of construction of the new refining and petrochemical complex Tuban in the eastern part of Java, Indonesia and establish a joint venture for the project implementation.
‘The Oil and Gas Blocks Fail To Entice Investors’article was published in The Jakarta Post on May 9. In the article, it is quoted that the failure to find a winning bidder for all of the eight oil and gas blocks put up for tender last year stemmed from “weak oil prices” and “the terms and conditions that are offered by the government”.
How to identify the correct indicators and reward system to improve safety performance. I recently was asked by a global client in the mining industry for advice on the company’s plans to introduce a new variable compensation system for employees related to safety performance.
Former Rio Tinto CEO Tom Albanese believes the commodity downturn has reached the bottom of the trough, and is on its way up once more.
Over the year to date iron ore has moved from strength to strength, with its rally only now begin to falter, whilst gold and silver have outperformed market expectations, reaching their highest point since January 2015, a massive shift away from the spiraling markets seen at the end of last year.
Dashcam gives witness to the driver accused by third party witnessof speeding and poor lane discipline. There are many reasons why the inc-cab Vehicle CCTV equipment is taking a foothold in transportation, mining, public transport and school buses, but safety is the primary reason. In developed countries the surveillance of public transportation, commercial vehicles, stations and terminals are just a matter of good business practice.
Gloomy Outlook as BHP Billiton is considering quitting its coal assets in Indonesia, where it recently started shipping steel-making coal from a small mine, amid uncertainty over Indonesian regulations and a weak outlook for coal.
BHP owns a 75 percent stake in the IndoMet Coal project, having sold the rest to Indonesia's Adaro Energy in 2010 for US$335 million. Coal asset prices have collapsed since then, and analysts said BHP would be lucky to fetch $200 million now for the stake in a largely undeveloped resource.
State-controlled mining company PT Bukit Asam reported a 14 percent year-on-year (yoy) sales increase during this year’s first quarter amid gradually rising coal prices. The company reported that during the first three months of the year it sold 5.23 million tons of coal compared to 4.57 million tons during the same period last year.