The Indonesian unit of U.S. miner Freeport McMoRan Inc can continue to export copper concentrate even if negotiations over the company’s permit to operate the giant Grasberg mine are not resolved this month, a mining ministry official said.
Canadian-born and Indonesian-raised Phil Rickard straddles two worlds. Having lived in Jakarta from age 11, and enrolled in both Indonesian and American schools, the chief executive officer of SGX-listed BlackGold Natural Resources is passionate about South-east Asia's largest economy.
With just over two months left before the end of this year, coal miner PT Baramulti Suksessarana (BSSR) is poised on increasing production and diversifying its export market to improve its bottom line.
Bangka Belitung Governor Erzaldi Rosman Djohan announced his decision on moratorium in tin mining license to improve control of the mining of the mineral in the province.
Indigenous peoples in Papua are seeking a role in the next stage of negotiations between the central government and United States mining giant Freeport McMoRan (FCX) with the latter set to relinquish its controlling stake in gold and copper miner PT Freeport Indonesia (PTFI).
Indonesian firm Intra Asia Indonesia has entered a deal to build a coal import port in southern Vietnam, local reports said. The project will involve a $1bn investment to build a port with capacity of 15m to 20m tons of coal per year.
The government has requested that gold and copper miner PT Freeport Indonesia, a subsidiary of United States-based Freeport McMoRan.inc, sell its shares to Indonesian state-owned enterprises after the company agreed to divest 51 percent of its shares.
Outnumbered and outflanked, Freeport-McMoRan Inc. Chief Executive Officer Richard Adkerson made an about-face.
Freeport McMoran (FCX) has stated that it still controls Grasberg mine in Papua, even after the company divested 51 percent of its shares in its subsidiary, PT Freeport Indonesia, as required by Indonesian law. Freeport McMoran CEO Richard Adkerson said his company would concentrate in underground mining next year because of the depletion of reserves resulting from its open mining activities.
A recent report warns that Indonesia's coal-based electricity strategy risks wasting $76 billion over the next 25 years. The country's economic ambitions and its substantial coal reserves have encouraged developers to rely on big, centralized, coal-fired power plants.