Chinese battery firm GEM is reportedly partnering with four companies to set up a joint venture (JV) to produce battery-grade nickel chemicals in Indonesia, with a total investment of around $700m.
Asia-Pacific coal prices gained ground this week amid an upturn in physical trading activity, despite a week-long Chinese national holiday, participants said on Thursday.
Indonesian company PT Adaro Energy Tbk and its four partner companies have agreed to boost transactions in rupiah to help maintain a balance between the US dollar supply and demand.
The government has issued another temporary permit extension for gold and copper miner PT Freeport Indonesia (PTFI) as the divestment process of shares from Freeport-McMoran (FCX) to state-owned mining holding company PT Indonesia Asahan Aluminium (Inalum) is still incomplete.
Asia-Pacific coal prices gained ground this week amid an upturn in physical trading activity, despite a week-long Chinese national holiday, participants said on Thursday.
The most liquid Indonesian market, the GAR 4,200 kcal/kg (NAR 3,800), stayed on course for a mild recovery this week as bid and trade levels firmed amid tightening supply and some Chinese short covering.
PT United Tractors Tbk (UNTR) recorded a revenue of Rp 38.9 trillion in the first semester of 2018, growing 32% from the same period of 2017 at Rp 29.4 trillion. The largest contributor to the revenue came from the mining contracting business segment at about 45%.
The Comprehensive Economic Partnership Agreement, which was finalised on 1 September, is anticipated to benefit both the Australian and Indonesian resources sectors.
Gold and copper mining company PT Freeport Indonesia (PTFI) has been given a one-month special mining permit (IUPK) extension, which is required for the company to import its copper concentrates.
United Tractors, a heavy equipment distributor controlled by Astra International, one of the largest Indonesian conglomerates, is acquiring a 95 percent stake in the Martabe gold mine in North Sumatra from Singapore-based Agincourt Resources.
