Following the divestment deal and the 20-year contract extension, gold and copper miner PT Freeport Indonesia (PTFI) plans to focus on develop a smelter and the underground mine at its Grasberg facility in Papua.
Critics have questioned the acquisition of the world’s second-largest copper and gold mine, asking why the government did not wait until PTFI’s current contract ended in 2021 — by which time it could simply take over the mine without paying a single rupiah.
The government is also expected to make a decision in January on domestic market supply requirements for coal miners
Indonesian nickel mining group Silkroad Nickel’s subsidiary PT Teknik Alum Service has signed an offtake agreement to supply nickel ore to PT Transon Bumindo Resources (PT TBR).
We have a positive view on Nickel and negative view on Lead and Zinc. Copper and Aluminum are expected to maintain downward trajectory during the early part of 2019
Pongkor Geopark, which is located in the gold-mining area of its namesake, is now a star tourism attraction in Bogor regency.
Progress in the construction of smelters by three mining companies in West Kalimantan has been slow.
US mining giant Freeport finally reaches terms on the state-forced divestment of the Grasberg mine, a $3.8 billion deal President Joko Widodo characterized as an 'historic moment'.