Freeport-McMoRan Inc shares jumped to a 16-month high on Tuesday, as soaring metal prices and progress in a long-running, costly permit dispute with Indonesia buoyed the world's biggest publicly traded copper miner.
In response to the President’s concerns about Indonesia’s business climate, the Energy and Mineral Resources Ministry has relaxed requirements for firms to seek ministerial approval when changing their top management or when transferring shares or project interests.
State-owned coal mining company PT Bukit Asam booked a 142 percent annual increase in net profit to Rp 1.72 trillion (US$129 million) in the first half of this year, following a hike in output and a drop in the stripping ratio.
Australia picks up slack from halted North Korea imports and Indonesia supply crunch. Feeding China's appetite for coal is helping to drive up Australian prices of the commodity for both electricity generation and steelmaking.
State-owned diversified mining company PT Aneka Tambang (Antam) has seen its gold sales drop by 48.29 percent to 2,788 kilograms in the first half of 2017, compared to 5,392 kilograms in the same period last year, due to technical problems in its smelting facility.
Coal prices' march to eight-month highs, driven by China's huge appetite for power consumption, looks like an interlude in a longer-term decline and is seen losing traction later this year.
A mission critical challenge on any long haul road way is the method that operators keep a strong focus on the job at hand which, in some cases, proves problematic due a number of factors.
While Indonesian authorities try to curtail the nation's coal production in order to safeguard plenty of supplies for future use (particularly to fuel Indonesia's coal-fired power plants), it is difficult for local coal miners to resist producing and exporting more coal now coal prices are still about 50 percent higher compared to the situation one year ago.
The West Kalimantan Police have launched an operation against illegal gold-mining activities in a number of regions in the province in the wake of a fatal accident at an illegal gold mine in Landak regency last week.