Indonesia Mining News and Commentary

Indonesia jumps on the mining exports tax wagon

Cecilia Jamasmie | May 3, 2012

Indonesia has decided to have its mining cake and eat it too, as the country, one of the world’s largest exporters of copper and coal, will start imposing a 20% tax on mining exports beginning next week.

Indonesian Ni Ore export tax levied 20pct

Steel Guru | May 13, 2012

The Indonesian government enforced an export tax system effective May 6th 2012 in which 20% export tax is levied on 14 mineral products of Indonesian origin including nickel ore. As a result Japan and China, two major importers of the nickel ore from…
Indonesia plans new quotas to limit mineral exports

Mineweb | May 11, 2012

The quotas, which will be initially introduced between June and August, will apply to all mineral exporters, a Trade Ministry official said Friday.
Social responsibility in mining is basic risk management, not feel-good projects

Frik Els | April 27, 2012

Corporate Social Responsibility initiatives by mining companies operating in emerging markets in South America, Africa and Asia have become a crucial part of doing business as “above-ground risks are quickly gaining equal footing to traditional geological and engineering considerations for mining projects.”
Policy maker behind Indonesia's 25-percent mining tax dies while mountain climbing

Michael Allan McCrae | April 21, 2012

The key policy maker behind a drive to impose a 25% tax on Indonesia's mining exports passed away unexpectedly on Saturday.
Indonesian export ban to make many nickel mines viable again

MINING.com News | April 19, 2012

Anton Berlin, head of marketing for Norilsk, says if prices rise above $20,000 a tonne on the back of Indonesia’s proposed ban on the export of ore, many idled mines can re-open.
Indonesia readies ban on unprocessed metal-ore shipments

Bloomberg | April 18, 2012

Indonesia, Southeast Asia’s largest economy, will proceed with a plan to ban exports of unprocessed metal ores including bauxite from next month, while confirming an exemption for producers that intend to treat output locally.
Freeport McMoRan ripe for takeout, analysts say

Andrew Topf | April 17, 2012

Freeport McMoran Copper & Gold is currently valued so low that it is an excellent target for a takeover, according to media reports today.
Churchill Mining to seek over $2 billion from Indonesia

Intellasia.net | April 14, 2012

London-listed Churchill Mining will take the Indonesian government to international arbitration and seek more than $2 billion in compensation in a dispute over a huge coal asset.
Indonesia not only wants to own foreign mining co's, now it will impose higher taxes on them too

Cecilia Jamasmie | April 12, 2012

Indonesia wants to have its mining cake and eat it too, as the country, one of the world's largest exporters of copper and coal, will speed up a tax on mining exports, the industry minister Mohamad S. Hidayat told Reuters today.
1/2-million ounce gold reserve confirmed at Tembang, Sumatra

Andrew Topf | April 11, 2012

Sumatra Copper & Gold has released a new reserve estimate for its Tembang gold-silver project in southern Sumatra, Indonesia.
Massive quake in Indonesia triggers tsunami alert

Cecilia Jamasmie | April 11, 2012

An undersea 8.6 earthquake struck Indonesia this morning at 04:38 ET, announced the U.S. Geological survey (USGS). The movement, which triggered a tsunami alert across the Indian Ocean, has forced all mining companies in Indonesia to halt their operations until further notice.
Top 10 gold producers: Indonesia leaves 31 tonnes underground

Frik Els | April 6, 2012

The price of gold averaged $1,571 an ounce in 2011 meaning the South East Asian country missed out on $1,7 billion in potential revenue.
Indonesia's proposed export tax has Indian power companies scrambling

Andrew Topf | April 4, 2012

Indonesia's proposed tax on mining exports is having a ripple effect on Indian power companies that buy fuel for coal-fired power plants.
Indonesia puts on hold talks to impose an export tax for coal

Steel Guru | April 1, 2012

Reuters reported that Indonesia, a major global producer of raw materials, has put on hold talks to impose an export tax for coal and base metals, but still expects to introduce the charge later in 2012.
Zijin Mining looking to Asia for more gold, copper assets

Andrew Topf | March 29, 2012

Chinese copper-gold giant Zijin Mining Group is on the move again with plans for more acquisitions.
World's largest coal company muscling in on world's largest metallurgical deposit

Frik Els | March 26, 2012

"Shenhua is the most competitive bidder for the project given its technology, transport infrastructure, access to the Chinese market and the backing of the Chinese government," Shenhua CEO Ling Wen told reporters.
FGB Signs $350 million financing deal with Indonesian Coking Coal producers

Poten & Partners | March 25, 2012

First Gulf Bank (FGB)'s international business division has recently signed an agreement worth $350 million with PT Asmin Koalindo Tuhup (AKT), one of Indonesia's largest producers of Coking Coal. This deal is one of the largest bilateral Pre-Export…
Anglo looking for new coal assets

Business Report | March 20, 2012

Anglo American is looking for thermal coal assets in Australia and Indonesia, especially as prices of potential targets have come down, the head of its thermal coal unit said in an interview.
Indonesia May Lose US$ 916 M from Coal Export Ban

Indonesia Finance Today | March 20, 2012

Indonesia could incur a potential loss of up to US$ 916 million from the low-calorie coal export ban starting in 2014, according to mining experts.
Grasberg strike bites into Freeport's production outlook

Andrew Topf | March 15, 2012

Freeport McMoRan Copper & Gold Inc will produce 80 million pounds less copper and 125,000 ounces less gold due to labour strife at the company's Grasberg mine in Indonesia.
Vale, Newmont Retain Appetite for Indonesia Mines Amid Stake Cut

Bloomberg | March 15, 2012

Global companies led by Vale SA (VALE5) and Newmont Mining Corp. (NEM) plan to invest in Indonesia’s mines, undeterred by a new rule cutting foreign ownership, as they hunt for resources in the world’s biggest exporter of tin and thermal coal.
Prosperity Resources increases interest to 80 pct in two gold, copper licences in Indonesia

Proactive Investors USA | March 14, 2012

Prosperity Resources ' ( ASX: PSP ) 81%-owned Indonesian subsidiary PT Prosperity Surya Persada has acquired an 80% equity interest in two key gold-copper licences in Aceh Province in Indonesia.
Indonesia's Rule No. 24 likely to embolden other nations to grab more from mining

Frik Els | March 11, 2012

Indonesia surprised the global mining community last week after a new rule – Government Regulation No. 24 of 2012 – was quietly announced on the mining ministry's website. A growing list of nations – and not just radical fringe territories such as Zimbabwe or Venezuela – are pushing for greater control and ownership of the resource sector on top of higher taxes and royalties.
BRIIC is a better BRIC

Russell Hoss - EuroPac Asia Small Companies Fund | March 11, 2012

For a variety of reasons, Indonesia has earned the right to be considered as a premiere destination for emerging market investment.
Reliance puts the record straight on new Indonesia mining law, but not before investors take it down 11%

MINING.com News | March 9, 2012

Reliance Resources on Friday issued an update in relation to the recently announced Indonesian Government Regulation No. 24 of 2012, regarding foreign ownership of mining projects after its share price took an 11% knock.