The Indonesian government recently issued a new regulation that contains provisions related to radioactive material mining area. The issuance of the new regulation is said to support the government’s plan to divert from coal and to further develop nuclear energy.
Minister Airlangga Hartarto, met with the United States Trade Representative (USTR) during the Indo-Pacific Economic Framework (IPEF) event in Detroit, US. Airlangga discussed various strategic economic topics with Deputy of the United States Trade Representatives Sarah Bianchi.
Businesses face finance problems resulting in the postponement of construction of many bauxite smelters. Businesses are having difficulty to obtain funds from banks.
The Minister of Energy and Mineral Resources, is urged to expedite the creation of Indonesia Nickel Prices Index for domestic transaction. Businesses asserted that the index is important for them to be used as a reference for royalty payment.
Coal and electric vehicle company PT TBS Energi Utama Tbk (TOBA) – which 10% of shares are owned by Coordinating Minister for Maritime Affairs and Investment Luhut Panjaitan – has allocated between US$ 50 million and US$ 60 million of capital expenditure (Capex) for the year 2023. The Capex would be allocated for the development of the new EVs and the renewable energy with its subsidiaries.
PT Bayan Resources Tbk. (BYAN) has absorbed capital expenditure (Capex) of US$ 166.2 million on the construction of a coal transport road, overland conveyor and a barge loading facility in Muara Pahu, East Kalimantan. The company seeks to increase its 2023 coal production targets to over 45 million tons, an increase compared to 2022 which was below 40 million tons.
Investment Minister/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia announced that investment realization from January to September 2022 has reached IDR 892.4 trillion – or 74.4% of the target – both foreign and direct investments. He was upbeat that his ministry could reach a targeted investment of IDR 1,200 trillion for the year 2022.
PT Galva Technologies Tbk (GLVA) has planned to allocate IDR 80 billion of Capex for 2023 to strengthen the company’s recurring income through managed services business model.
