Copper and gold mining company PT Freeport Indonesia spent up to US$151.7 million as of July to finance the development of its copper smelter in Gresik, East Java.
Sea disposal of mining waste could spread as Indonesia weighs adopting the technique for new nickel projects, as Papua New Guinea is doing for a gold mine proposed by Australia’s Newcrest Mining.
The government’s coal reference price, better known as HBA, continues its declining trend in line with lower international prices, with the October HBA set by the government at US$64.8 per ton, down 1.5 percent from the September HBA of $65.79 per ton.
China’s coal imports in September dropped 8.1% from a month earlier, as traders held up purchases amid an increase in domestic supply and slowing demand for the fuel from power generation companies.
Nickel prices have surged to the highest levels in five years amid global supply fears stemming from Indonesia, the world’s largest nickel producer.
* The Indonesian government on Monday lowered the coal benchmark price (HBA) for September to $65.79 per tonne, the lowest since October 2016, an energy ministry spokesman said.
Indonesia’s ban on nickel ore exports could boost the country’s earnings from the metal five-fold in the next five years through growth in industries such as stainless steel and battery materials, a minister said on Wednesday.
The Energy and Mineral Resources Ministry decided this month to increase mining company Freeport Indonesia’s copper concentrate export quota to 700,000 wet metric tons (wmt), a more than threefold increase on the previous quota of 198,282 wmt.
State-owned electricity company PLN, through its second-tier subsidiary electricity producer Indo Raya Tenaga, is slated to ink an investment deal later this year for the construction of two additional power plants at its Suralaya coal-fired power station in Cilegon, Banten province.