Newmont announced plans to boost its dividend by at least 50% for 2018 “We expect to deliver steady gold production at competitive costs over the next five years, and to continue investing in margin and Reserve growth. This commitment is backed by our proven strategy and track record and our differentiated technical and operating talent, project pipeline and global footprint.”
State-Owned Enterprises (SOEs) Minister Rini Soemarno has signed on Tuesday a document officiating the establishment of state-owned aluminum producer PT Indonesia Asahan Alumninium (Inalum) as the holding company of state mining companies.
State-owned PT Indonesia Asahan Aluminium (Inalum), which has been appointed to lead a state-owned mining industry holding, has said that it will focus on purchasing 40.64 percent shares of gold and copper miner PT Freeport Indonesia (PTFI).
The House of Representatives has rejected the government’s plan to establish a state-owned mine holding company involving several mining firms such as aluminum producer PT Inalum, diversified mining company PT Aneka Tambang (Antam), tin mining company PT Timah and coal mining company PT Bukit Asam.
Indonesia's Ministry of Energy and Mineral Resources has revoked the mining license of the country's only hard coking coal miner Asmin Koalindo Tuhup, with the miner looking to contest the ruling, sources aware of the matter confirmed Monday.
Indonesia's plan to establish a holding company for state-owned miners could create a new giant with Rp 90 trillion ($6.6 billion) in assets, putting the miners in a better position to raise new funding to manage the country's natural resource wealth.
* Indonesia, Australia thermal coal output down from 2013 peaks
* At the same time, North Asian coal demand has risen
* Newcastle coal prices doubled between 2016-2017
* Outlook for 2018 is less firm as output rises, demand stutters
The government is preparing to make a detour from its course to acquire gold and copper miner PT Freeport Indonesia (PTFI), in which it might have to persuade Anglo-American miner Rio Tinto to sell its participating interest in Papua’s Grasberg mine, the world’s largest gold and second-largest copper mine.