The Energy and Mineral Resources Ministry has revised its investment target this year by 27 percent to only US$37.2 billion, with the biggest cut of more than 50 percent coming from the electricity sector. The ministry initially aimed to realize investments worth $50.96 billion this year, of which $16.76 billion in the oil and gas - will remain unchanged, $7.31 billion in the mining sector reduced to $6.26 billion, $2.01 billion in the renewable energy sector, $24.88 billion was expected to be in the electricity sector reduced to $12.2 billion.
The most drawn-out deal in the global mining industry looks set for another round. Freeport-McMoRan Inc. shares have fallen about 21 percent since they opened Monday, headed for their worst weekly performance in almost three years. The reason is a further wrinkle in the Indonesian government’s attempt to lift its stake in the Grasberg mine on the island of New Guinea, one of the world’s biggest sources of copper and gold and among the most isolated and challenging pits on the planet.
Freeport-McMoRan Inc. says it would be impossible to keep mining Grasberg, its flagship copper-and-gold asset in Indonesia, if it were to adopt new environmental standards unveiled by the state this month. Environmental claims ‘shocking and disappointing,’ CEO says.
Thousands of Acehnese people whose livelihoods rely on illegal mining were shocked by an explosion at an oil well in Peureulak, East Aceh, on Wednesday, that claimed the lives of 22 people and badly injured 37 others.
Adaro unit Adaro MetCoal Companies (AMC) has 54 million tons of metallurgical coal reserves at one of its seven mine concessions in East and Central Kalimantan provinces, AMC Director Priyadi told reporters at a company event. According to a statement provided by Adaro, AMC has 1.35 billion tons of coking coal resources "with very low ash and sulphur content".
Indonesia’s oil lifting, the colloquial term for ready-to-sell production, fell by 6.6 percent to 750,600 barrels of oil per day (bopd) throughout the first quarter because of a natural decline of reserves at various fields across the country.
The emerging market for Predictive Maintenance shows increasing growth as maintenance strategies move from what has been known as Condition-based Maintenance to Analytics- and IoT-enabled Predictive Maintenance. New IoT platforms, low-cost secure cloud storage as well as analytics vendors that offer dynamic data models play an increasing role in the technology transition.
Indonesia has declared a state of emergency around a port on Borneo island, officials said on Tuesday, after a large oil spill and fire killed four people at the weekend.
JAKARTA: Indonesia will delay until 2020 trade rules requiring exporters of coal and crude palm oil to use only Indonesian-flagged vessels, which had raised concerns over the availability of local vessels, government officials said, putting off efforts to develop local shipping and save foreign exchange reserves.