#Corporate
Government to ban bauxite ores export starting June 2023
President Joko "Jokowi" Widodo announced that Indonesia would start banning the export of bauxite ores starting June 2023 to encourage the development of bauxite processing and refining industry at home. His statement came days after Indonesia filed an expected appeal against a World Trade Organization (WTO) panel ruling that was in favor of the European Union (EU) in a dispute over the ban on nickel ore exports.
Pertamina Hulu Energy, Pertamina Geothermal Energy to go public
The Ministry of State-Owned Enterprises has planned to launch an IPO for two state oil and gas giant PT Pertamina's subsidiaries, namely PT Pertamina Hulu Energy (PHE) and PT Pertamina Geothermal Energy (PGE).
Ministries have split opinions on Freeport smelter progress and export tax reduction
Gold and copper mining giant PT Freeport Indonesia (PTFI) has yet to receive export tax reduction for their copper concentrate export as Indonesian ministers have not agreed on the percentage of the company's smelter progress in Gresik, East Java.
G20 electric vehicles are up for sale with a discount and allocated for government needs
The electric vehicles used for the G20 Summit in Bali in November 2022 are currently being sold at a discounted price or allocated for other government needs. Indonesia has committed to switch from fossil fuels to renewable energy by using electric vehicles - cars, motorcycles and buses - for the event’s mobility needs.
China controls Indonesia's nickel industry
China has dominated Indonesia's nickel industry, according to a lawmaker and an observer. A member of the House of Representatives' Commission VII overseeing energy and mineral resources and industry, Zulfikar Hamonangan, probed Minister of Energy and Mineral Resource Arifin Tasrif in a hearing that 90% of nickel mines in Indonesia was under China's control.
10 largest oil palm plantations in Indonesia
Indonesia is the world’s largest producer of palm oil, producing around 46.2 million metric tons in 2021 alone. Being the largest producer, consequently Indonesia has the largest oil palm plantations, especially in Sumatra and Kalimantan islands.
German businesses see diversification is key, not decoupling from China
German businesses attending the 17th Asia-Pacific Conference of German Business (APK) in Singapore on November 13-14, 2022, have seen that decoupling from China is not the right way to deal with the country’s dependency to one particular country.
PT PAL to buy Scorpene submarines from Naval
State-owned shipbuilder PT PAL Indonesia and French defense company Naval Group are under negotiation on several issues in the purchasing of Scorpene submarines. A source from Naval told Indonesia Business Post that the discussion was focusing on the number of Scorpene submarine that will be purchased and the price of a submarine unit.
Defense industry develops well as showcased in Indo Defense Expo & Forum
The domestic defense industry has continued to develop as the government provides ample space for the private sector to help build Indonesia's defense industry, President Joko "Jokowi" Widodo said.
China's coal-fired power plants should be terminated over public concerns
The government should terminate all captive coal-fired power plant projects funded by the Chinese Belt and Road Initiative (BRI) since the projects have yet to comply with China's commitment to cease the development of coal-fired power plants at home and overseas since September 2021. Ironically, several nickel-based industrial parks are powered by coal to produce nickel-based batteries for electric vehicles (EVs).
Michelin allegedly involves in deforestation, intimidation against Jambi local community
French tire company Michelin's local subsidiary, PT Lestari Asri Jaya (LAJ), has been allegedly involved in deforestation and intimidation against local farmers although the company had secured green bonds.
Counting the days for minerals ore export total ban
The government has planned to issue a roadmap and a regulation to fully ban the export of several minerals ores like coppers, tins and bauxite next month. Minister of Investment/Head of Investment Coordinating Board (BKPM) Bahlil Lahadalia said the government was discussing the regulation on the downstream industry system and the economic tree of the downstream industry of minerals.