The Jakarta Composite Index (JCI) on Wednesday dropped by 2.03 percent to 6,368.27 as Energy and Mineral Resources Minister Ignasius announced the government’s plan to immediately decide a domestic coal price under the domestic market obligation (DMO).
PT Freeport Indonesia plans to build a smelter processing and refining facility in Gresik, East Java. Executive Director Tony Wenas confirmed that according to the initial plan, the company will build a smelter in Gresik, East Java. In fact, he said, the smelter development plan will still run with or without cooperation with PT Amman Mineral Nusa Tenggara (AMNT)
The government has allowed foreign investors to bid for mining concessions with a total area of more than 500 hectares, while smaller areas will be prioritized for regional administration-owned enterprises (BUMD) operating in their regions.
After a tough couple of years, the recovery of the mining industry started in 2017, and now is the time to kick it into a higher gear and benefit from being an early mover. Digital investments and new charging models are a couple of the initiatives companies will be pioneering to leverage the industry turnaround in 2018. IoT in combination with digital twins and equipping users to service their own assets are also key trends, predicts Rob Stummer, managing director at IFS Australia and New Zealand.
Rio Tinto will expand its autonomous haul truck operations to the West Angelas mine this year, giving it five iron ore sites with the driverless vehicles in the Pilbara of Western Australia.
PT Perusahaan Listrik Negara (Persero) has targeted acquisition process of 8 coal mining concessions to gain coal supply for its mine mouth thermal power plants (PLTU) in Sumatra and Kalimantan to be completed by June 2018.
“Indonesia has long and acknowledged expertise in the coal mining sector. We hope that Indonesia can share that expertise to Pakistan through joint venture or investment in the coal mining sector especially in the coal-rich Tharparkar area, Sindh Province," said Chief Minister (CM) of the Sindh Province, Mr. Syed Murad Ali Shah, in the farewell call of the Consul General of Indonesia, Dempo Awang Yuddie, in Karachi, on Wednesday (21/2).
The Energy and Mineral Resources Ministry has decided to change the implementation period of the new discounted price formula for coal sold to the domestic market, saying the policy had only taken effect since March 12 instead of the previous Jan. 1.
Contractor Macmahon has released its first half report for 2018, posting $270m in revenue ending December 2017, up $168.3m from the previous period. This has resulted in a return to profitability for the company, which posted net profits of $8.2m after tax.
Indonesia’s ambitious oil refinery development plans are prone to delays and even cancellations due to the country’s notorious policy flip-flop, according to global think tank BMI Research, a unit of Fitch Group.
The Energy and Mineral Resources Ministry says it will issue a regulation on the domestic price of coal to curb production costs as the government has decided not to increase electricity rates.