Indonesia started 2020 with two important policies in the mining sector: the ban on nickel ore exports and the requirement that coal companies export coal using local ships.
Indonesia’s oil and gas industry will continue to face challenges this year as the government projects lower crude oil prices, production and investment while demand continues to grow.
President Joko “Jokowi” Widodo announced on Friday that Indonesia became the majority owner of PT Freeport Indonesia (PTFI) after increasing its share ownership from 9.36 percent to 51.23 percent through a US$3.85 billion deal.
The Energy and Mineral Resources Ministry has fixed this year’s coal domestic market obligation (DMO) rate at 25 percent of each mining company’s production with a selling price of US$70 per ton for power production.
Indonesia has launched the operation of its largest coal-fired power unit to date, which offset all renewable energy power progress in the Southeast Asian country last year.
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Environmental activists have criticized President Joko “Jokowi” Widodo for rolling out the red carpet to mining investors at the expense of local people and have called for abstention during the 2020 regional elections as a form of protest.
The global collapse in coal prices this year has dealt a particularly heavy blow to miners in Indonesia, the top exporter and one of the largest producers of the fuel.
PT Bumi Resources Tbk. (“BUMI”) and business units, PT Kaltim Prima Coal (KPC) jointly won the Gold Rank in the Asia Sustainability Reporting (ASR) Rating 2019 from the National Center for Sustainability Reporting (NCSR) in collaboration with the Institute of Certified Sustainability Practitioners (ICSP). The award was presented by the Executive Director of NCSR Mr Ali Darwin and Chairman of ICSP Prof. Eko Ganis Sukoharsono at the ASR2019 Awards which took place in Bali (11/23/2019).
Coordinating Maritime Affairs and Investment Minister Luhut Binsar Pandjaitan has said Indonesia will fight the European Union's lawsuit on the country’s nickel export ban.