#Primary
Indonesia plans to increase shares in Freeport as government grants mining permit extension
PT Freeport Indonesia (PTFI) has responded positively to the Indonesian Government's plan to grant Special Mining Business Permits (IUPK) for the company after 2041. Currently, Freeport permits is still valid until 2041.
Indonesia surpasses Australia and the Philippines to become the second largest cobalt producer
Indonesia has become the second largest cobalt producer in 2022 below the Democratic Republic of Congo which has 5% of global cobalt production, also surpassing Australia and the Philippines.
Shandong Nanshan's biggest US$ 6 billion investment for its aluminium smelters
One of Chinese major companies, Shandong Nanshan, will expand its aluminium plant in Indonesia to become a US$ 6 billion smelting complex in 2028. The company will also be constructing an aluminum smelting unit with an annual capacity of 250,000 tons later this year.
Coal mining investment remains strong despite declining commodity prices
Investment in the coal mining sector is predicted to remain strong in the short term because it is supported by the annual production target set by the government. Currently, the flow of investment in coal has not been disrupted by its selling price, which is currently dropping drastically.
Indonesia’s poultry industry expands with first-ever live chicken export to Singapore
Indonesia marked a new chapter in its trade relations with Singapore as it exported 23,040 live chickens, weighing a total of 41.46 tons on Saturday (13/5), according to the Indonesian Ambassador to Singapore Surya Pratomo.
Adaro mineral build aluminum refining facility to reduce Indonesia's dependence on imports
One of Indonesia's largest mining companies, PT Adaro Minerals Indonesia (ADMR), stated that it will focus on assisting Indonesia to advance the mineral downstream business by building an aluminum refining facility or smelter in North Kalimantan, which is targeted to start operating in Q2 2025.
MIND ID continues acquisition of Vale Indonesia's shares
Indonesian mining industry holding MIND ID is ready to acquire shares in PT Vale Indonesia Tbk (INCO) and tap into the company's enormous potential in nickel reserves.
TSE Group commits to zero emissions to combat climate crisis using SBTi method
Plantation company Tunas Sawa Erma Group or TSE Group is starting to focus on committing to zero emission contributions until 2050 following the recent rapid increase of global temperature. The company is reported to use the SBTi method to achieve its target.
Vale Indonesia allocates US$ 580 milion for smelter projects in Pomalaa and Bahodopi
One of the largest nickel smelter company in Indonesia, PT Vale Indonesia Tbk (INCO) allocates US$ 580 million (IDR 8.43 trillion) in capital expenditure (Capex), which will be used for the development of smelters in Pomalaa and Bahodopi. The company hoped to increase both smelter's production capacity.
Indonesia cuts tax incentives to limit investment in lower quality nickel products
Indonesia has reduced tax incentives to restrict investment in lower-quality nickel products, including nickel pig iron (NPI) and second-class nickel ore processing products. The government has made the decision to make the most of its abundant nickel reserves and to encourage more high-value investments in the downstream.
Indonesia revokes tax holiday incentives for new nickel smelter to promote hydrometallurgical investment
The government has started to revoke the tax holiday for new Rotary Kiln-Electric Furnace (RKEF) nickel smelters under the consideration that high grade nickel ore processing plants are sufficient and do not need to get tax holiday facilities.
Non-oil and gas driven by natural resource exports is seeing a surplus for Indonesia
Bank Indonesia (BI) reported that Indonesia has a surplus of trade balance in March 2023. This surplus was driven by the continuing surplus in the non-oil and gas trade balance, which includes natural resource commodities such as coal, precious metals, metal ore, and iron & steel.