#Corporate
Freeport seeks copper export relaxation extension until year end
Gold and copper miner PT Freeport Indonesia hopes to get an extension of its copper concentrate export relaxation licence from the Indonesian government until the end of 2024 over operational technicalities.
Operational commencement of Cleo mineral water factory in IKN
The mineral water factory belonging to the mineral water emitter affiliated with conglomerate Hermanto Tanoko, namely PT Sariguna Primatirta (CLEO) of Tanobel Group, is officially operational in the New Capital City (IKN) of Nusantara.
Two nickel mining company go public early this year
Robust sales of electric vehicle (EV) and its key component − battery − have led to increase demand of solid nickel, which subsequently lure mining business players to increase their production capacity and profiles, including two nickel mining companies − PT. Sumber Mineral Global Abadi and PT. Adhi Kartiko Pratama − which have decided to go public in early 2024.
Djarum and Wings Group opt for non-commercial investment in IKN
Two Indonesian conglomerates, Djarum Group and Wings Group, have declared their decision to refrain from participating in the commercial projects of the Nusantara Capital City (IKN). Instead, both conglomerates have opted to engage in the development of a Botanical Garden, a non-commercial project within the IKN.
Energy ministry still reviews Freeport's work plan, budget
The Ministry of Energy and Mineral Resources (ESDM) is still evaluating the Work Plan and Budget (RKAB) of Copper and Gold mining company PT Freeport Indonesia (PTFI).
China asked to improve investment governance in Indonesian smelter industry
Minister of Industry Agus Gumiwang Kartasasmita says he has urged the Chinese government to assess and enhance the governance of Chinese smelter industries in Indonesia. Agus conveyed the issue during a meeting with the Chinese Minister of Industry, who recently visited the Indonesian Ministry of Industry.
Energy minister: 117 mining companies have yet to pay PNBP obligations
The Ministry of Energy and Mineral Resources (ESDM) is still waiting for several mining companies that have not deposited their obligations to the state. These obligations include deposits of non-tax state revenue (PNBP).
Nestlé partners with Foodbank of Indonesia for food donation program
Nestlé Indonesia has signed a collaboration agreement with Foodbank of Indonesia (FOI) at its headquarters, reinforcing its commitment to actively contribute to consumer health.
Securing IDR 600 Billion, Toll Company Owned by Jusuf Hamka (CMNP) to Construct This Toll Road
PT Citra Marga Nusaphala Persada Tbk. (CMNP), a toll road company owned by Jusuf Hamka, has recently reported receiving a credit injection of IDR 600 billion from PT Bank Capital Indonesia Tbk. (BACA). In its report, the loan is intended to support the construction of the 9.6-kilometer-long Harbour Road II Toll Road. "To finance the construction of the Ir. Wiyoto Wiyono, M.Sc, Section Harbour Road II [elevated] from Ancol Timur to Pluit, spanning approximately 9.6 kilometers," explained CMNP management in a disclosure, quoted on Wednesday (1/3/2024). CMNP, owned by Jusuf Hamka, received funds through two different credit facilities. A sum of IDR 50 billion was borrowed through the Current Account Loan (PRK) facility, while the remaining IDR 550 billion was borrowed through the Money Market Acceptance Loan (PA MM) facility.
Nickel workers union demands for workplace safety
The nickel workers’s union staged a protest on Wednesday, demanding companies to adhere to occupational health and safety laws. This ultimatum follows the recent explosion at the smelter furnace owned by PT Indonesia Tsingshan Stainless Steel (ITSS) in Morowali, Central Sulawesi.
SOE's Minister Warned Vale About Divestment: The Price Must be Fair!
State Owned Enterprise Minister Erick Thohir reminded PT Vale Indonesia Tbk (INCO) on the divestment plan of 14 % of its shares to Indonesia Mining Holding Company MIND ID .
Freeport Indonesia plans to increase shares in PT Smelting as part of its long term commitment
President Joko 'Jokowi' Widodo officially inaugurated the operational expansion project of the copper smelter owned by PT Smelting in Gresik, East Java.