(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 Read more
(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 Read more
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 Read more(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 Read more
(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 Read more
(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 Read more
(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 Read more
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