#Corporate
Petrosea signsmining services term sheet renewal, worth US$1.08 billion
Indonesia private mining service company PT Petrosea has signed an amendment and restatement of mining services agreement term sheet with PT Global Bara Mandiri, a subsidiary of PT Singaraja Putra, for overburden removal and coal getting at a mine area located in Central Kapuas district, Kapuas regency, Central Kalimantan, on July 3, 2024.
Shopee and Shopee Express sign ‘Behavioural Change Integrity Pact’
PT Shopee International Indonesia (Shopee) and PT Nusantara Ekspres Kilat (Shopee Express) signed an Integrity Pact concerning alleged violation of Article 19 letter d and Article 25 paragraph (1) letter a of Law No. 5/1999 Related to Delivery Services (Courier) on the Shopee Platform in the Assembly Session of the Business Competition Supervisory Commission (KPPU) on Tuesday, July 2, 2024.
Luhut: Indonesia poised to become key player in EV global supply
In an effort to meet global demand for electric vehicles, the Governments of Indonesia and South Korea inaugurated the Battery and Electric Vehicle Ecosystem in Karawang, West Java, on Tuesday, July 2, 2024.
MIND ID officially the largest PT Vale Indonesia’s shareholder
JAKARTA − State-owned Mining Industry Holding Company, PT Mineral Industri Indonesia ("MIND ID"), has completed the purchase of approximately 14 percent ofthe divested shares of PT Vale Indonesia from Vale Canada Limited ("VCL") and Sumitomo Metal Mining Co., Ltd. ("SMM").
Bahlil: Gresik smelter makes electric battery ecosystem in Indonesia more complete
Minister of Investment/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia said the latest copper smelter built by PT Freeport Indonesia (PTFI) will further strengthen the electric battery ecosystem in Indonesia.
Delta Dunia completes acquisition of Atlantic Carbon
PT Delta Dunia Makmur, through American Anthracite SPV I, LLC, a controlled entity under PT Bukit Makmur Internasional (BUMA International), has completed the acquisition of Atlantic Carbon Group, Inc. (ACG) for US$122.4 million.
ESDM minister: Indonesia to seek new investors for Sonic Bay project
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif says the government will seek for new partners and investors after Germany's BASF and French's Eramet decided to withdraw from the Sonic Bay project in Weda Bay Industrial Estate, North Maluku.
Harita Nickel books Rp23.86 trillion in revenue in 2023
Indonesian private integrated mining and metallurgy company PT Trimegah Bangun Persada (NCKL) or Harita Nickel, booked a revenue of Rp 23.86 trillion (US$ 1.45 billion) in 2023, up 149.4 percent from the previous year. In addition, the company also recorded profit of Rp5.62 trillion in 2023, or an increase by 20.4 percent from the previous year.
Seven bauxite smelters show no progress: ESDM ministry
The development of bauxite downstream industry is far promising as out of the eight smelters in the government’s pipeline, only one has shown significant progress, a senior government official says.
ESDM ministry: Freeport export permit under review by Finance Ministry
An expert staff to Indonesian Minister of Energy and Mineral Resources (ESDM) says that the government is finalizing its review into the request for export permit of copper concentrates by PT Freeport Indonesia, with export technicalities being assessed by the Ministry of Finance.
Mining companies to be impacted by weakening rupiah: Ministry
An expert staff to the Minister of Energy and Mineral Reources (ESDM) has hinted that a number of mining companies will be hit by the weakening Rupiah, while others may enjoy the benefit of the drop of the Indonesian currency.
PLN committed to hydrogen ecosystem development in Indonesia
State electricity company PT PLN is pioneering the development of the hydrogen ecosystem in Indonesia, citing its commitment to support energy transition in the country. PLN President Director Darmawan Prasodjo said that PLN is fully committed to the development of hydrogen in Indonesia. This is in line with PLN's commitment to support the energy transition in Indonesia.