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.
PT Bukit Asam Tbk (PTBA) won an award as Asia’s Most Trusted Company 2017 in category of Coal Mining Company in Asia from International Brand Consulting Corporation, USA. This award was submitted by the CEO of IBC Info Media Pvt. Ltd. (India), Hemant Kaushik and received by PTBA’s Domestic Marketing and Distribution, Biverli Binanga at the Awards Ceremony and Gala Dinner at Grand Hyatt Hotel, Bangkok, Sunday (8/26).
The Jakarta Police arrested director of oil, gas and mining company PT Mulia Graha Abadi, Richard Muljadi, on Wednesday evening, when one of its officers reportedly caught him sniffing cocaine in the toilet of a South Jakarta shopping mall where he was dining.
Jambi Police are looking for two people believed to have financed an illegal gold mine that collapsed on Sept. 2, trapping six miners.
Pertamina is expected to post its lowest first-half profit in four years for 2018, an official said, with the state energy company squeezed by government fuel polices, higher oil prices and a 9 percent slide in the rupiah.
President Joko “Jokowi” Widodo has told state-energy holding company Pertamina to buy all oil lifting, the colloquial term for ready-to-sell production from all oil and gas contractors in the country to reduce oil imports and to strengthen the rupiah.
One of the standout commodity performers this year has been thermal coal, but not all coal is created equal and disparities in pricing may help explain why India's imports have stayed strong despite the higher costs.
The contractors of the Brantas oil and gas exploration operational area in East Java have signed a gross split production sharing contract (PSC) scheme with the Indonesian government, extending a 20-year working contract with Lapindo Brantas Inc. as an operator with PT Prakarsa Brantas and PT Minarak Brantas Gas as contractors.