Commodity
China coal imports rise 14.5 per cent in April - Wires | Sector data
(The Insider Stories) - China’s coal imports rose 14.5% on month in April as cheaper import prices encouraged end-users to raise orders, with shipments from Indonesia and the U.S. gaining the most, wire services report. Traders said most of the deals were signed earlier in the year. High supply levels have weakened regional prices but Full Article
Four rescued after Freeport Indonesia mine collapse, two die; 37 were trapped | Company data
(The Insider Stories) - Four workers have been rescued after a tunnel collapsed at PT Freeport Indonesia’s Grasberg mine in Papua province in eastern Indonesia and trapped 37 workers, while two have died, the Freeport-McMoRan Copper & Gold Inc. (FCX) subsidiary says in a statement. Indonesian media report one man was treated at a nearby hospital Full Article
Azerbaijan may build $4.8 bln oil refinery, aluminum plant in Indonesia - Jakarta Post | Sector data
(Insider Stories) – Major Indonesian oil supplier Azerbaijan is planning a $4.8 billion refinery on Batam island in Riau province and an aluminum plant in Kalimantan, the South Caucasus nation’s ambassador tells The Jakarta Post. The Post quotes Tamerlan Karayev as saying at an embassy event. State Oil Co. Of Azerbaijan Republic (SOCAR) is in Full Article
Power Capital Global in coal offtake agreement with Perdana Maju Utama | Company data
(Insider Stories) - Asia-based natural resources trading and logistics group Power Capital Global (AIM:PCGB) via joint venture PCG Coal (Indonesia) has entered an offtake agreement with PT Perdana Maju Utama to acquire up to 1m metric tons of thermal coal, the company says on its website. Below is a statement from Power Capital Global. Joint Venture and Full Article
Killara Resources acquires 80% of coal producer Borneo Emas Hitam | Company data
(Insider Stories) – Australia’s Killara Resources (ASX:KRA) has acquired 80% equity interest in Indonesian coal producer PT Borneo Emas Hitam, located in East Kalimantan province, from major shareholder the Zulkarnaen family. Killara will pay, pending due diligence, a minimum of US$2.2 million, a statement says. This transaction underscores the board’s strategy of establishing an Indonesian Full Article
Sumatra Copper & Gold seeks to raise $20 mln from rights issue | Company data
(Insider Stories) – Indonesia’s Sumatra Copper & Gold plc (ASX: SUM) is seeking to raise $20 million through a rights issue as a key financial plank of development of the Tembang Gold-Silver Project in Sumatra. The rights issue is two new CDIs for every five CDIs and will involve the issue of up to 117.8 Full Article
Indonesia releases first Extractive Industries Transparency Initiative report | Regulation data
(Insider Stories) - Indonesia has taken a significant step forward in introducing transparency into governance of its extractive resources industry, a sector that is the economy’s mainstay and provides a third of the national budget but where a lack of transparency has led to corruption and conflict, with the Coordinating Ministry for Economic Affairs releasing Full Article
Cargill breaks ground on $100 mln Indonesia cocoa plant | Company data
(Insider Stories) – Cargill Inc. has broken ground on a state-of-the-art cocoa processing facility in Gresik, East Java province, with the company reportedly prepared to invest $100 million in the project. Cargill’s first cocoa processing facility in Asia, the plant will “meet the growing demand among customers for cocoa products and to encourage the development Full Article
Indonesia’s Cement Production 66.60 MT in 2014
(The Insider Stories) - Indonesia cement production will reach 66.60 million tons (MT) of cement in 2014 or a surplus of 0.7% from national demand 65.90 MT of cements. By then, utilisation is estimated to reach 99% of total production capacity. This year the total production estimated at 60.75 MT of cement or a surplus Full Article
Interra’s Indonesia well raises oil production - Wires | Company data
(The Insider Stories) — Singaporean oil and gas explorer and producer Interra Resources Ltd. (ITRR) says its gross production of oil in Indonesia’s Tanjung Miring Timur (TMT) well improved 38% on quarter to 35,322 in the quarter ended March 31, up from 25,555 barrels, according to a wire report. Well TMT 53 has had a Full Article
PTBA switches export market from China to Taiwan and Vietnam | Company data
(The Insider Stories) – State-owned coal producer PT Bukit Asam (PTBA) is planning to switch its export market to Taiwan and Vietnam from China due to recent slower economic growth in China, and started coal exports to Taiwan in the first quarter of 2013, shipping about 487,080 metric tons to Taiwan from total exports of Full Article
Selected fuel price policy review - Danamon | Outlook Data
(The Insider Stories) - The president has confirmed that the subsidized fuel price will be raised in May, though details on the policy is still not yet clear. The policy was highly anticipated as domestic fuel consumption has currently exceeded its monthly quota in the state budget by around 6%. If the government does not Full Article
Salim Ivomas, London Sumatra plan share buybacks with CPO prices slumping
(Insider Stories) – Plantation companies PT Salim Ivomas Pratama (IDX:SIMP) and PT London Sumatera (IDX:LSIP) have announced they plan to buy back shares from Indonesia Stock Exchange and are preparing funds of around 410 billion rupiah ($42 million) from retained earnings for the deals. Weriyanti Setiawan, a spokesperson for the Indofood Group, which owns the Full Article
United Tractors sees heavy equipment sales falling a fifth in 2013 | Company data
(The Insider Stories) – Indonesia heavy machineries company PT United Tractors Tbk (UNTR) is forecasting a 19.4% drop in the number of units it can sell this year as businesses refrain from expanding mines and plantations with global commodity prices sluggish. United Tractors may only sell 5,000 units of heavy equipment including Komatsu, UD Trucks, Full Article
Malaysia to enforce antidumping duties on polypropylene, including from Indonesia - Bernama | Sector data
(The Insider Stories) — Malaysia’s government will enforce antidumping duties for the next five years on imports from producers — including Indonesia - of biaxially oriented polypropylene, used as packaging for snack foods and fresh produce, Bernama reports. The full story is below: The Royal Malaysian Customs Department will enforce the collection of anti-dumping duties on the import Full Article
