Philippines President Rodrigo Duterte has attacked mining companies operating in the country, saying he will “tax you to death” for not protecting the environment.
State-owned coal miner PT Bukit Asam (PTBA) is seeking to acquire new mine sites to increase its coal production, which currently stands at 3.33 billion tons per year.
Publicly listed state-owned tin mining firm PT Timah (TINS) claims that illegal mining in Bangka Belitung Islands has declined thanks to the soft approach taken by the firm.
Freeport-McMoRan Inc shares jumped to a 16-month high on Tuesday, as soaring metal prices and progress in a long-running, costly permit dispute with Indonesia buoyed the world's biggest publicly traded copper miner.
In response to the President’s concerns about Indonesia’s business climate, the Energy and Mineral Resources Ministry has relaxed requirements for firms to seek ministerial approval when changing their top management or when transferring shares or project interests.
State-owned coal mining company PT Bukit Asam booked a 142 percent annual increase in net profit to Rp 1.72 trillion (US$129 million) in the first half of this year, following a hike in output and a drop in the stripping ratio.
Australia picks up slack from halted North Korea imports and Indonesia supply crunch. Feeding China's appetite for coal is helping to drive up Australian prices of the commodity for both electricity generation and steelmaking.
State-owned diversified mining company PT Aneka Tambang (Antam) has seen its gold sales drop by 48.29 percent to 2,788 kilograms in the first half of 2017, compared to 5,392 kilograms in the same period last year, due to technical problems in its smelting facility.
Coal prices' march to eight-month highs, driven by China's huge appetite for power consumption, looks like an interlude in a longer-term decline and is seen losing traction later this year.