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PT Timah eyes Canadian company to develop rare earth minerals
PT Timah Tbk (TINS) is struggling to develop its rare earth mineral business due to various challenges, including a lack of partners, limited technology, and the need for significant funding.
Oil and gas businesses association explains reasons why foreign investors are leaving Indonesia's oil and gas industry
A number of problems have caused a number of foreign PMA to leave Indonesia, ranging from weak laws, lack of incentives and complicated bureaucracy such as the never-ending Oil and Gas Draft Bill revision, and lack of interesting incentives.
KAI Commuter to purchase 16 new trains from INKA in IDR4 trillion investment
PT Kereta Commuter Indonesia (KCI) or KAI Commuter has prepared an investment of IDR 4 trillion for the procurement of 16 new trains produced by PT Industri Kereta Api (Persero) or PT INKA. This procurement will be operational in 2025-2026, according to the KAI Commuter VP Corporate Secretary Erni Sylviane Purba on Wednesday, May 3, 2023.
Waskita Karya Director named as suspect in a corruption on fictitious projects
Destiawan Soewardjono, President Director of PT Waskita Karya, was named as a suspect in a corruption case related to the use of fictitious project funds, which resulted in state losses. The Attorney General's Office (Kejagung) has named Soewardjono as suspect a corruption case for misappropriation of funds in 2016-2020.
Bulog signs rice import contracts with 4 countries
President Director of Indonesian national logistics company Perum Bulog Budi Waseso, revealed that Bulog had entered into contracts with several countries to import 500,000 tons of rice.
SVB’s collapse: lessons learned for Indonesia’s banking industry
The collapse of Silicon Valley Bank, SVB, sent shockwaves through the financial system, reviving memories of the global crisis in 2008.
State-owned banks devise strategies in facing potential recession 2023
Indonesia’s state-owned banks BRI, Mandiri, BNI, and BTN have presented a number of mitigation strategies to face the potential recession in 2023 in the meeting of the DPR Commission VI on Tuesday (28/3).
WSBP invest IDR 80 billion to build Nusantara's Presidential Palace and working roads
PT Waskita Beton Precast (WSBP) is a publicly traded Indonesian state-owned enterprise (SOE) founded in 2014 and a subsidiary of PT Waskita Karya (Persero). It is the country's largest producer of precast and mixed concrete. The company intends to invest IDR 80 billion (US$ 5.2 million) in capital expenditure (Capex) to develop Indonesia's New Capital, Nusantara, in East Kalimantan.
Indonesia, Western Australia join forces to boost EV industry
The Western Australian Government Deputy Premier Roger Cook and the Indonesian Chamber of Commerce and Industry (Kadin) Chairman Arsjad Rasjid signed a Memorandum of Understanding (MoU) in Perth, Australia, on February 21, 2023.
Government should provide favorable climate to attract tin downstream investors
To attract investors in the tin downstream industry, Indonesia must guarantee competitive investment costs, affordable gas prices, low logistic costs and infrastructure availability. President Director of state-owned tin mining company PT Timah Tbk., Achmad Ardianto, said investors in the tin downstream industry would seek a location with reasonable capital or minimal investment costs.
Energy ministry prepares exploitation of rare earth minerals
The Ministry of Energy and Mineral Resources' Geological Agency is exploring the potential of rare earth minerals in Indonesia. The exploration is carried out to identify rare earth minerals in the laterite potential areas outside the mining sites, so the government can prepare the mining operation permits.
Antam, LG Energy Solution cooperation remains unclear
A planned cooperation in developing electric vehicle battery between Indonesian state-owned mining company PT Aneka Tambang Tbk (Antam) and South Korean battery maker LG Energy Solution (LGES) is still unclear. State mining holding company MIND ID Chief Executive Officer Hendi Prio Santoso said that LG even left the negotiation of the project to a member of its Huayou Cobalt Co.Ltd. of China.