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News and Commentary
Contract to be extended to 2041 as Freeport agrees to divest 51% shares - 16/8/2017
Coordinating Maritime Affairs Minister Luhut Binsar Pandjaitan has said that the contract of gold and copper miner PT Freeport Indonesia will be extended to 2041 as the company agreed to divest 51 percent of its shares to Indonesia's entities.
For the complete story see:
http://www.thejakartapost.com/news/2017/08/16/contract-to-be-extended-to-2041-as-freeport-agrees-to-divest-51-shares.html
Mongabay.com - Indonesian coal firms shut down for violations fight back in court, with mixed results - 15/8/2017
As Indonesian authorities move to strip thousands of mining licenses from firms that have failed to meet legal requirements, some companies are fighting back in the courts.
For the complete story see:
https://news.mongabay.com/2017/08/indonesian-coal-firms-shut-down-for-violations-fight-back-in-court-with-mixed-results/
Reuters - Union federation accuses Freeport of treating 'fired' Indonesia mine workers 'with contempt' - 11/8/2017
IndustriALL Global Union, a federation of labour unions, said the Indonesian unit of copper miner Freeport McMoRan Inc and metal smelter PT Smelting had treated "fired" workers "inhumanely and with contempt", urging both to reinstate staff and contractors.
For the complete story see:
https://www.reuters.com/article/us-indonesia-freeport-strike-idUSKBN1AR0B5
Reuters - Indonesian mine 'stolen' from Intrepid could return to the ASX - 10/8/2017
Nickel producer Vale Indonesia said Indonesia's recent policy shift to allow ore exports is helping keep global prices of the metal low, and complicating efforts to establish partnerships for new smelter investments.
For the complete story see:
https://www.reuters.com/article/vale-indonesia-nickel-idUSL4N1KV4A2
The Jakarta Post - Antam gold sales drops due to technical problems in smelting facility - 7/8/2017
State-owned diversified mining company PT Aneka Tambang (Antam) has seen its gold sales drop by 48.29 percent to 2,788 kilograms in the first half of 2017, compared to 5,392 kilograms in the same period last year, due to technical problems in its smelting facility.
For the complete story see:
http://www.thejakartapost.com/news/2017/08/07/antam-gold-sales-drops-due-to-errors-in-smelting-facility.html
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Media Releases
Asiamet Resources Limited - Asiamet Resources files BKM Resource Update Report for the Beruang Kanan Prospect, KSK CoW, Indonesia - 15/8/2017
Asiamet Resources Limited ("ARS" or the "Company") has filed a technical report supporting the independently estimated updated Resource at the Beruang Kanan Main Zone, KSK CoW, Indonesia.
As announced on June 28, 2017 the highlights of the updated Resources are:
HIGHLIGHTS
Resource confidence significantly upgraded with contained copper in Measured and Indicated Resources increased...