news From the Press Government to Repossess Poorly Used Mining Concessions
Under regulations expected to be attached to the recently passed mining law, holders of mining rights, or KPs, including state-owned companies, may lose some of their concessions if they fail to properly develop the sites, a senior government official said on Wednesday... Read more
Mining Commodities Almost Back To Normal
Bambang Setiawan, director general of minerals, mining and geothermal energy, says that prices of mining commodities such as coal nickel and tin which have previously tumbled 50% in early 2008 are now nearing normal value.
He said that at the current price position the producers of the mining commodities can still gain profit. “The current price of tin is US$10.000 which is not tool low and still provides a profit margin to the producers,” he stated to the media after a seminar in connection with the new Minerba Bill in Jakarta, yesterday... Read more
Three Investors To Develop US$ 4.1 Billion Smelters
JAKARTA – Three investors are earmarking US$ 4.1 billion or around Rp 45.5 trillion to develop smelters in a number of places across Indonesia. The three investors are PT Nusantara Smelting, which will build a US$1.04 billion copper-nickel smelter in Bontang, East Kalimantan, and PT Smelting Gresik, a copper cathode smelter in Gresik, East Java worth US$ 1.4 billion... Read more
West Sumbawa Set To Open New Gold Mine
A domestic mining company plans to mine gold in Batu Hijau, West Sumbawa regency, West Nusa Tenggara, where U.S.-based copper and gold mining company PT Newmont Nusa Tenggara also operates.
The West Sumbawa regency administration has issued a mining concession to PT Sumbawa Barat Sejahtera Bersama (SBSB), allowing it to operate in Brang Ene district.
West Sumbawa Regent Zulkifli Muhadli told the media recently his office had initially issued SBSB with prospecting rights entitling it to carry out research and soil analysis at the designated site in Brang Ene... Read more