The perception of mining outside of the industry itself has not always been positive. In Australia, mining is a standout contributor to the local economy. During the global financial crisis of a decade ago, it was a crucial reason why Australia wasn’t as impacted as many nations around the world were.
Rio Tinto has confirmed that PT Indonesia Asahan Aluminium (Inalum) is interested in buying its share in the Grasberg copper-gold mine in Indonesia. Media reports have suggested that Rio Tinto is ready to accept a $3.5 billion deal for its interest in the Grasberg operation. “No agreement has been reached, and there is no certainty that binding agreements will be signed,” Rio Tinto stated.
Local fishermen in Samarinda Anchorage have been demonstrating against the Port Authority since 13th May 2018.
Under the planned $2.25 billion transaction, Adaro will take a 48 percent stake of Rio's current 80 percent interest in the mine, while its joint venture partner EMR Capital will take the remaining 52 percent.
Indonesia Coal Benchmark Price (HBA) for the month of June is set at $96.61 per tonne, up from $89.53 in May, energy ministry spokesman Agung Pribadi said on Monday. "The higher HBA was triggered by China's restricted coal production and impact of global oil price increase," Pribadi said.
Energy and Mineral Resources Minister Ignasius Jonan is optimistic the handover of 12 on-production oil and gas blocks is enough to give state-owned energy giant Pertamina a boost.
Global oil demand growth was a much heralded sidekick to supply cuts that rebalanced the market in record time. Now the Saudi Arabia-Russia pronged pact is considering reversing course on its output cut deal, while demand growth shows little sign of letting up.
Freeport McMoRan president and CEO Richard C. Adkerson arrived at the Energy and Mineral Resources Ministry on Friday at 11:20 a.m. for a meeting with the minister, although details on the meeting were not disclosed.
Coordinating Maritime Affairs Minister Luhut Pandjaitan says PT Chevron Pacific Indonesia (CPI), the local unit of the United States-based oil and gas giant Chevron Corp., has expressed interest in continuing its operation of the Rokan block in Riau, one of the most productive oil blocks in the country.
Energy and Mineral Resources Ministry oil and gas Director General Djoko Siswanto has said PT Chevron Pacific Indonesia has proposed a higher split from the oil extracted in Rokan Block if the company gets a contract extension.