Indonesia Still Negotiating for Additional 10% Stake in Freeport Indonesia: Jakarta Globe President Joko "Jokowi" Widodo confirmed that Indonesia has not yet left the negotiation table regarding an increase in its stake in gold miner Freeport Indonesia (PTFI), a subsidiary of Freeport McMoRan, by an additional 10 percent, aiming to raise its ownership to 61 percent. Jokowi stated that Indonesia currently holds 51 percent of PTFI shares and noted that previous negotiations to gain control of this majority stake were lengthy and complex. “(The additional 10 percent?stake) is still under negotiation. When we took the 51 percent, it wasn’t a matter of one month, two months, or three months; it took years and was quite arduous,” Jokowi said after inaugurating Freeport Indonesia's Smelter Manyar in Gresik, East Java, on Monday. For the full story: https://lnkd.in/gihcg-N8
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Baru Gold Corp. (TSX-V:BARU) announced that it has engaged a specialist advisory firm to lead efforts to raise funds for production operations at its Sangihe gold project in Indonesia. The company said this decision follows increased institutional and corporate interest driven by sustained high gold prices. The retained firm, with offices in Hong Kong, Jakarta, Perth, and Singapore, is recognized for its expertise in the metals and mining industry across Asia and Australia. Its leadership team boasts extensive experience, having facilitated over $8 billion in mining-related transactions, including landmark deals in Indonesia's gold and coal sectors, Baru Gold... https://ow.ly/jshX105PvmB
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While Indonesia has typically been considered a higher-risk region for mining investment than most Western countries, the speed and tenacity at which its nickel sector has flourished has made one thing clear to investors: the country can be mined. Could this mean the nation is primed to disrupt other markets just as it has done with nickel? Read the full story at MiningNews.Net
Is nickel just the start of Indonesia's resources domination?
miningnews.net
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?? #News Freeport Indonesia'?? ???????????? ???????????? ?????????????? ???????? ?????? ???????????? ???????????????????? ???????????? ?????? ???????????? Copper miner Freeport Indonesia expects operations at its Manyar smelter to resume in the third quarter of next year after being halted by a fire in October, its spokesperson, Katri Krisnati, said on Wednesday. Due to operational issues at the smelter, ???????????????? ?????? ?????????????????? ???? ?????????????????? ???? ?????? ???????????? ?????????????????????? ???????????? ?????????????? ???????? ?????? ???????????????????? ????????????????????, which is set to expire at the end of this year. Tony Wenas, CEO of PT Freeport Indonesia, stated that the smelter must first be repaired before it can resume operations and allow exports in 2025. ?????? ?????????????? ???? ???????? ?????????????? ???? ???????????????????? ???????????? ?????????? ?????? ???????? ????????. ?????? ???????????????????? ?????? ?????? ?????? ?????????????? ?????????????? ???? ?????????????? ?????? ??????????????. According to sources, Freeport-McMoRan plans to postpone sales of refined copper from Indonesia until the second quarter of 2025. #Freeport #Copper #Miner #Mining #Indonesia #Globetrade #Markettrends
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The well-funded Far East Gold Ltd Ltd (ASX:FEG, OTC:FEGDF) plans to accelerate the growth of its portfolio with the pending acquisition of up to 100% of the #IdenburgGoldProject in Papua province of Indonesia.? The company has executed a Conditional Share Purchase Agreement (CSPA) with PT Iriana Mutiara Idenburg (IMI). Under a Contract of Work (CoW), the CSPA will initially allow FEG to acquire a 51% interest in the project, subject to meeting agreed conditions.? The Idenburg project, which spans 95,280 hectares, is in a region known for hosting world-class #gold and #copper deposits, including Grasberg (+70 million ounces of gold), Porgera (+7 million ounces), Frieda River (20 million ounces) and Ok Tedi (20 million ounces). More at #Proactive #ProactiveInvestors #ASX #smallcapstocks https://ow.ly/e97O105LoRh
Far East Gold to accelerate portfolio growth with Idenburg acquisition
proactiveinvestors.com.au
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Integrated #MiningOperations from upstream to downstream are transforming #Indonesia into a #GreenPowerhouse. The ban on mineral ore exports has spurred investment, growing smelting facilities from just three in 2012 to 54 by the end of 2023. With an additional 16 smelters set to launch by 2024 and US$11.6 billion in investments, Indonesia is on the rise. In a recent interview, dss+ Senior Global Advisor Dr Sunil Duggal highlighted the country’s potential to become a global metal mega-hub by prioritising #RiskMitigation and #ESG principles. Will Indonesia lead the charge in #SustainableMining? Discover the full interview her:?https://lnkd.in/dXr8npM8
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The Energy and Mineral Resources Ministry has reaffirmed its plan to further limit the production of nickel products in a move to improve the commodity’s price to protect the domestic industry. Tri Winarno, the ministry’s coal and mineral mining director general, said addittional curbs on production was highly relevant to maintaining national resilience amid heightened geopolitical tension and a rise in global conflicts. He did not reveal either the terms of the new restrictions or when they might be imposed. “We will begin regulating certain nickel products in the market so [as to avoid] oversupply, just the optimum level [of output]. We will restrict saturated nickel products so prices can go up,” Tri said on Tuesday at the Bisnis Indonesia Economic Outlook 2025 in Kuningan, South Jakarta. Read more:?https://lnkd.in/gEbRVcvX #business #nickel #price #global #indonesia #thejakartapost
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Baru Gold Corp. (TSX-V:BARU) CEO Terry Filbert shared a year-end update with shareholders, reflecting on the company’s achievements and setting expectations for the year ahead. “The past year has seen the company achieve several of its long-standing goals and lay the foundation for a transformative next 12 months,” Filbert said. Filbert and the company are looking forward to the anticipated approval of its Production Operation Status from Indonesia’s Ministry of Energy and Mineral Resources (ESDM). The company expects to receive approval early in 2025, which will allow the company to begin gold production shortly thereafter. Baru is also focused on raising... https://ow.ly/NQe5105Sboj
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Here is a summary of article by Dahlan Iskan, former Minister of State Own Enterprise title "Great Courage" #Freeport Smelter Fire: A Setback for Indonesia's Mining Industry The recent fire at the Freeport Indonesia smelter in Gresik, Indonesia, highlights the challenges and risks associated with large-scale industrial projects. Delayed Production: The incident has significantly impacted Freeport's production, with operations expected to remain halted until September 2025. Investment Implications: The Rp 56 trillion investment in the smelter is now at risk, raising concerns about the project's viability and the long-term impact on Indonesia's mining industry. Government Policies: The incident underscores the importance of robust project management, rigorous safety protocols, and effective government oversight in the mining sector, particularly in light of the government's ban on mineral ore exports. This event serves as a crucial reminder of the need for careful planning and execution in large-scale industrial projects to ensure their success and minimize potential disruptions. #Freeport #Indonesia #Mining #Industry #Smelter #ProjectManagement #Safety #Risk https://lnkd.in/gqycz3Ei
Nyali Besar
disway.id
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PT Freeport Indonesia, PTFI, is in active discussions with the Indonesian government to extend its copper concentrate export permit due to the temporary shutdown of its Manyar smelter. This request comes in the wake of a fire incident that halted operations and imposed storage challenges for the company. The urgency to secure export extensions is crucial as PTFI navigates the logistical complexities of managing its inventory. Indonesia remains a pivotal player in the global copper market, with 2023 exports reaching a substantial USD 8.3 billion. Critical export destinations include Japan and China, each with USD 1.9 billion worth of copper ore, followed by South Korea, India, and Spain. The country's ability to maintain this level of export activity hinges on effective management of its production and export capabilities, of which PTFI is a major contributor. The fire at the Manyar smelter in October has placed immense pressure on PTFI's operational infrastructure. With the Amamapare port and storage facilities nearing full capacity, the company is focusing on accelerated repair efforts to resume operations by mid-year. Spokesperson Katri Krisnati has emphasized the company's commitment to overcoming these challenges swiftly and efficiently. Energy and Mineral Resources Minister Bahlil Lahadalia has indicated that the government's decision on PTFI's export extension request is forthcoming. This decision will follow a critical meeting with President Prabowo Subianto. Meanwhile, efforts led by PTFI CEO Tony Wenas, in collaboration with the Coordinating Ministry for Economic Affairs, aim at expediting the smelter repair process to ensure minimal disruption to Indonesia's copper export capabilities. #CopperIndustry #ExportExtension #Indonesia https://lnkd.in/dv9esnw7
PT Freeport Indonesia Seeks Export Extension Amid Smelter Repair
indexbox.io
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