tag:blogger.com,1999:blog-19204424918396239942012-01-30T05:19:16.876+07:00The Asian Journal of Mining was founded in 1986 (alongside the Australian Journal of Mining) to provide indepth coverage of the projects, people and policies of minerals and energy exploration and mining in Asia. Published in quarterly print format until 2003, the journal is currently available by email subscription.MGnoreply@blogger.comBlogger1921100tag:blogger.com,1999:blog-1920442491839623994.post-85075952568861176542012-01-29T05:00:00.000+07:002012-01-30T05:00:55.876+07:00

Bangladesh's state-owned Power Development Board (PDB) has signed a $1.5 billion, 50:50 joint venture deal with India's state-owned National Thermal Power Company (NTPC) to build a 1,320 MW coal-fired power plant, the country's biggest, to provide electricity to Bangladesh's grid. The plant is scheduled to be operational by 2015 and will be located at Bagerhat's Rampal. "Coal will be imported to

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-6699045041982968732012-01-28T04:57:00.000+07:002012-01-30T04:58:39.198+07:00

In a shock move, US mining giant Freeport-McMoran Copper & Gold (FCX) has removed the President Director of its 90.68% subsidiary, PT Freeport Indonesia, after the resolution of a dramatic three month's strike by over one-third of the companies 23,000 workers at the Grazberg gold-copper mine in Papua province, Indonesia. Dr Rozik B. Soetjipto, a Commissioner of PTFI since 2000 has been appointed 

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-10556051439231069932012-01-27T04:52:00.000+07:002012-01-30T05:01:50.050+07:00

Following Rio Tinto's 24 January announcement that it had increased its ownership stake in Ivanhoe Mines to 51%, from 49%, the Anglo-Australian company has informed the US Securities and Exchange Commission that it anticipated it would gain more than a majority of the seats on the Ivanhoe Mines board by seeking the replacement of a majority of the present roster of directors who were not

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-68683197460866349562012-01-26T04:48:00.000+07:002012-01-30T05:02:00.645+07:00

With revenues of $60 billion last year following a huge merger with Bucyrus, US earthmoving equipment manufacturer, Caterpillar Inc, saw a 83% increase in profits to almost $5 billion, up 83% from last year. According to its annual report, the company is also bullish about the immediate future: “We expect mining to continue to be strong globally, and we have a sizable order backlog for mining

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-66103208220723492282012-01-25T04:42:00.000+07:002012-01-30T05:02:10.983+07:00

China's domestic coal sector may lose its competitiveness to imports by 2015, forcing state companies to buy and import increased amounts of foreign coal, UK-based consultancy Wood Mackenzie stated in a new report. It projects it will be cheaper for six provinces and municipalities that account for much of China's manufacturing to source 90% of their coal from overseas by 2015 due to the

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-74250304380129173242012-01-24T04:38:00.000+07:002012-01-30T04:48:28.072+07:00

The Chamber of Mines of the Philippines is pushing for reforms in 2012 to straighten provincial open-pit mining bans and other issues in Mindanao that jeopardize existing and proposed mines. The chamber is urging President Aquino's Minerals Policy Group to pay closer attention to conflicting local ordinances in South Cotabato and Zamboanga del Norte that have left investors and owners uncertain

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-27545253768943089632011-06-24T01:35:00.003+07:002011-08-05T01:38:18.825+07:00

Australian-listed Southern Cross Exploration has acquired an option for the Batangas gold project in the Philippines, 110 km south of Manila. Consideration for the initial acquisition of a 5% interest will be satisfied as a combination of cash and scrip and Southern Cross has the right to acquire up to 100% of the project progressively over a period of three years. The property is

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-18020583236970574112011-06-24T01:23:00.003+07:002011-08-05T01:26:44.558+07:00

Australia-listed Aspire Mining said it has raised the eventual production target for its wholly-owned Ovoot coking coal project in Mongolia to 12 Mt/y, from 10.5 Mt/year. Recent coal washability test results confirmed a high theoretical yield of 80% with 8% ash content, giving Ovoot the potential to be the lowest-ash coking coal producer in Mongolia, Aspire said. "It is clear from the results

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-39753874524291155862011-06-24T01:18:00.000+07:002011-08-05T01:20:28.449+07:00

Vietnam's Finance Ministry is considering raising the export tax on coal from 15% to 20% to protect dwindling reserves, news website VnExpress reported. It cited a ministry source as saying a higher tax rate will help restrict exports as coal reserves are thinning and the country, a major coal exporter, imported coal from Indonesia for the first time last week. State-owned Vinacomin plans to

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-25166243634778122812011-06-24T01:11:00.002+07:002011-08-05T01:15:05.899+07:00

PT Timah, the world's largest integrated tin miner, believes tin will be trading at $23,000 to $27,000 per tonne in the second half of 2011, lower than its full year target price. "In the next three to six months demand will still be impacted by Japan's earthquake, but it may steady helped by demand from South Korea," said Gatut Hari Prasetyo, Timah's commercial and business development director.

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-83465080159043793122011-06-24T01:03:00.001+07:002011-08-05T01:09:12.792+07:00

Olympus Pacific Minerals Inc has successfully poured its first gold dore bar weighing 11.1 kilos at the newly commissioned Phuoc Son Gold Plant in Vietnam. Previous production from the plant had been processed through the company's Bong Mieu Gold Room while technicians finished commissioning the Phuoc Son gold room. The Phuoc Son Gold Plant has a plated capacity of 500 t/d with features

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-12041792140319500632011-06-23T00:58:00.001+07:002011-08-05T01:01:12.091+07:00

Indonesia's Berau Coal Energy will spend $126 million to increase production to 20.3 Mt of coal in 2011. Berau President Director Rosan P. Roslani said the company will need as much as $350 million for business development until 2014. “Our internal funds are enough to fund this project. We don’t see the need to use loans,” Rosan said as reported by detikfinance.com. In the long term, he said,

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-3576486689299626942011-06-23T00:53:00.003+07:002011-08-05T00:55:29.417+07:00

Prophecy Coal Corporation's Ulaan Ovoo coal mine in Mongolia, near the Russian border, has produced nearly 230,000 t of thermal coal, removing over 1.5 million bank-cubic-metres of waste in the process. The Canadian-based company has also added 20,000 tonnes of coal, ready for export, to its stock yard. Similarly, the Chandgana Power Plant, Prophecy’s flagship operation, which is located on the

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-1170442983659091862011-06-23T00:46:00.003+07:002011-08-05T00:48:41.138+07:00

The OHS authority in China's Inner Mongolia autonomous region has shut down 205 non-coal mines and ordered 136 others to suspend operations in a six-month campaign to boost safety supervision in the resource-rich region. "Illegal operations have prominently existed in Inner Mongolia's non-coal mining sector for years," the regional government's work safety bureau announced. "The campaign has

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-76092325122453151312011-06-22T00:39:00.000+07:002011-08-05T00:42:51.412+07:00

Philippine-focussed Philex Mining said a recently-completed, independent mineral resource estimate indicates its Boyongan-Bayugo copper-gold prospect contains 5 B lb of copper and 9 M oz of gold. The findings by SRK Perth, Australia, for the Silangan project managed by wholly-owned Silangan Mindanao Mining Co Inc, were based on results from more than 80,000 metres of drilling by Philex by June

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-5268177524757303032011-06-21T22:23:00.001+07:002011-08-04T22:29:48.273+07:00

Indonesian state-owned inspection, supervision, analysis and testing specialist, PT Sucofindo (Persero), now has its own lab for coking coal, the first in Indonesia, located in Balikpapan, East Kalimantan. "We have develop this lab to assist businesses in obtaining accurate lab analysis results with reduced time and cost. Companies will also experience ease in obtaining speedy lab analysis

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-61670727992034351012011-06-21T22:05:00.000+07:002011-08-04T22:10:29.675+07:00

Fitch Ratings says coal will remain the dominant fuel for the Indian power sector, given the lower-than-expected gas production from existing fields and no new major gas discoveries. Additionally, the majority of the future generation capacity additions will be coal-fired. State-owned Coal India Limited (CIL) dominates the domestic coal supply market with a 80% market share, although some

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-84411544155995548702011-06-21T21:51:00.003+07:002011-08-04T22:05:16.966+07:00

Bumi, the renamed venture founded by global financier Nathaniel Rothschild and majority-owned by Indonesia’s Bakrie family, has detailed fraud and graft allegations among risks to investors eyeing its shares when it lists next week. “It may not be possible for the group to detect or prevent every instance of fraud, bribery and corruption in every jurisdiction,” Bumi said in its prospectus. Bumi

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-61432800186087306562011-06-21T00:11:00.000+07:002011-08-05T00:35:15.209+07:00

Mongolia's coal exports are expected to jump 50% to 25 Mt this year and rise further to between 30-35 Mt in 2012, A. Erdenepurev, general-director of the fuel policy department at Mongolian's Ministry of Mineral Resources and Energy, told Reuters. Mongolia's coal exports are expected to reach 50 Mt as the eastern section of the huge Tavan Tolgoi mine comes onstream by 2014 to 2015, he said,

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-43312834131538956142011-06-20T21:34:00.001+07:002011-08-04T21:37:19.198+07:00

Indonesia's state-owned coal company, Bukit Asam (Perusahaan Tambang Batubara Bukit Asam), expects its net profit to increase about 50% this year. “As coal production and prices increase, I believe that we can earn a net profit of more than Rp 3 trillion ($348 million) this year,” its President Director, Sukrisno, said at the hearing at House of Representatives Commission VII, which oversees

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-31370850889425569282011-06-20T20:15:00.000+07:002011-08-04T21:27:24.383+07:00

Australian-listed Sovereign Gold Company has entered into a 50% joint venture in the advanced Ibam Hill gold exploration project in Malaysia through Almusyarakah Mining Minerals SDN BHD. AAM's founder and chairman is Abdul Hakam, a prominent banker. Through its 100% subsidiary MAS Gold Pty Ltd, Sovereign Gold will fund development of the project up to A$1.5 million and also provide expertise.

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-25972185972966673592011-06-20T20:05:00.001+07:002011-08-04T20:14:27.132+07:00

PT Merukh Enterprises, a major Indonesian-owned gold, copper and coal mining company, has secured a minimum funding commitment of $14 billion through a bank syndicate and international financial institutions. “Two US hedge funds have committed to disburse $7 billion each for the needs of our projects investments,” Merukh Enterprises president director and CEO Rudy Merukh said in statement.

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-62636436548821117992011-06-19T21:44:00.003+07:002011-08-04T21:46:22.251+07:00

China’s National Energy Authority (NEA) is researching protective measures on "rare coal resources" such as coking coal, China Securities Journal reported, citing unnamed channels. "Coking coal accounts for 25% of China’s total coal reserves while the proportion of combined prime and rich coal was less than 9%. The scarcity hits China hard, as coking coals are widely used in the manufacture of

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-77596255824983769412011-06-18T19:37:00.000+07:002011-08-04T19:41:39.091+07:00

THE government of Australia's NSW state has directed staff to help the Chinese miner Shenhua search for new coalmines south of Sydney. According to the Sydney Morning Herald, the move is "part of a secret and ambitious plan to divert trains carrying millions of tonnes of coal from Gunnedah through Sydney to Port Kembla, bypassing Newcastle." Shenhua Watermark Coal, a subsidiary of the world's

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-31964407866560377922011-06-17T19:29:00.000+07:002011-08-04T19:32:21.406+07:00

Xanadu Mines has finalised a farm-in agreement with the Noble Group for the Nuurstei coking coal project in Mongolia. Through Ekhgoviin Chuluu LLC, a company set up as the vehicle for Xanadu Noble alliance projects, Xanadu can earn up to 80% of the Nuurstei coking coal licenses over four years by spending up to $1.5 million on drilling to earn the first 60% followed by a commitment to complete

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-63502371314443835442011-06-17T19:17:00.001+07:002011-08-04T19:19:51.713+07:00

Japan's Itochu Corp will partner with USA-based Drummond Coal in a $1.5 billion deal to market Colombian coal in Asia. Itochu will take a 20% stake in a new company, Drummond International, with the privately owned US firm holding the balance. "Specifically, this transaction is tied to a capital program in Colombia over the next five years projected to be over $1.3 billion," Drummond said.

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-90480694486054360402011-06-17T19:06:00.001+07:002011-08-04T19:10:20.027+07:00

OceanaGold will start producing copper in concentrate from its long-delayed Didipio project in the Philippines in 2013 at 18,000 t/y,  Mick Wilkes, CEO, told Reuters. Gold production from the mine, under construction in Luzon island, will ramp up to 100,000 oz/y by the end of 2014. Wilkes said compensation agreements were reached with local landowners, a trust fund established and sponsorship

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-88056868262803297962011-06-17T18:53:00.002+07:002011-08-04T18:59:39.062+07:00

According to 2011 edition of the annual BP Statistical Review of World Energy, coal’s share of global energy consumption rose to 29.6% last year, the highest since 1970 and up from 25.6% a decade ago. BP said coal consumption grew by 7.6% in 2010 the fastest growth rate since 2003. China which overtook the US as the world largest energy consumer saw its consumption grow by 10% and consumed

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-59235728768921474262011-06-16T14:40:00.000+07:002011-06-16T14:40:28.285+07:00

China produced 1.4 Mt of manganese in 2010 but future output may fall dramatically due to shrinking ore bodies. “China may lose 500,000-700,000 t/y of metal capacity in the next 3-5 years if no new resources are found,” stated Zeng Xianbo the General Secretary of China’s Sodality of Manganese Plant Directors in a recent report from Metal Pages. This massive reduction in supply is likely to

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-48489208699582596762011-06-16T14:24:00.000+07:002011-06-16T14:24:12.160+07:00

China's gold production may grow by more than 10% in 2011, Cui Jianguo, vice president of the China Gold Association, told Beijing media, adding that world gold prices would be pushed higher. "Prices (for gold) in the second half will definitely rise because the factors behind the recent price increases have not changed; there is the European debt crisis, there is Libya and all kinds of economic

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-63472002141380199342011-06-16T14:17:00.000+07:002011-06-16T14:17:29.144+07:00

The Singapore Exchange (SGX) became the first exchange to clear over-the-counter Indonesian sub-bituminous coal swaps last November and business is reportedly booming. "We're seeing brokers jumping up and wanting to join in," Zenny Tran, the leader of Singapore-based broker Ginga Petroleum's coal team, told Business Times. "They now believe the market liquidity is sufficiently big enough for

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-47062409270587767292011-06-16T00:28:00.000+07:002011-06-16T00:28:18.784+07:00

The UK P&I Club has published a checklist and guide to avoiding fires when carrying Indonesian coal cargoes in bulk. It is an ‘aide memoire’ for the guidance of shippers, shipowners, charterers, surveyors, ships’ crews and other parties involved in the loading and carriage of cargoes of coal. Self-heating incidents involving coal cargoes loaded at Indonesian ports have become increasingly

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-79850736810149337872011-06-16T00:14:00.000+07:002011-06-16T00:14:05.228+07:00

Australian-listed Finders Resources Limited has been granted mining permits for the development of the Wetar Copper Project in Indonesia. The company reports that the IUP permits, issued on 9 June by the District of Maluku Barat Daya are valid for 20 years, and comprise a Mining Business Permits for Copper Mining Operations to PT Batutua Kharisma Permai and a Mining Business Permit for Copper

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-11020502973938632122011-06-15T23:52:00.001+07:002011-06-15T23:53:19.284+07:00

Indonesian-listed coal miner PT Indika Energy plans to boost the capacity of the mines it controls through PT Kideco Jaya Angung to 50 Mt in the next two to three years from 40 Mt, President Director Arsjad Rasjid told the Wall Street Journal. With annual revenue of around $440 million last year, Indika is Indonesia's third-largest coal miner, behind PT Adaro Energy and PT Bumi Resources.

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-75172945985442122472011-06-15T23:38:00.000+07:002011-06-15T23:38:44.461+07:00

Australian-listed Voyager Resources believe its forthcoming deep drilling will unlock the potential of its Khongor copper-gold project in Mongolia, 250 km to the west of the giant Oyu Tolgoi project. Its managing director, Kell Nielsen, draws parallels to Ivanhoe Mines’ early deep drilling at Oyu Tolgoi in 2001. "We own it 100%. This is our main project. We went to Mongolia to acquire a project

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-4194978415912072682011-06-15T02:24:00.000+07:002011-06-15T02:24:00.003+07:00

Mining is contributing to local and national development outcomes in Laos, according to a new report by the International Council on Mining and Metals (ICMM). 'Utilizing mining and mineral resources to foster the sustainable development of the Lao PDR' found that mining has come to represent 80% of foreign direct investment in this mineral rich country. The mining industry is a significant

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-77366275479307133372011-06-14T02:04:00.000+07:002011-06-15T02:17:05.903+07:00

Australian-listed Kangaroo Resources has received shareholder approval to complete the $277-million acquisition of the Pakar coal project, in Indonesia. Kangaroo has now issued more than 2.3-billion new shares to project owner PT Bayan Resources, as well as other parties, in order to acquire the Pakar project, giving Bayan a controlling 56% shareholding in Kangaroo. Kangaroo hopes to have four

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-27328490328374895912011-06-14T01:57:00.001+07:002011-06-15T02:03:59.380+07:00

A shipment of more than 9,575 tonnes of coal from Indonesia arrived at Vietnam's Cai Lai seaport on 13 June to provide fuel for power generation facilities in the country's central and southern regions. Remarkably it was reported as the first batch of coal that Vietnam, a nation rich in this resource, had imported. The Vietnam National Coal and Mineral Industries Group (VINACOMIN) will import

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-48116929405820405192011-06-14T01:51:00.001+07:002011-06-15T01:57:01.325+07:00

PT Newmont Nusa Tenggara has secured a six-year credit of $600 million to fund expansion at the Batu Hijau gold and copper mine in Indonesia's Nusa Tenggara barat province. NNT president director Martiono Hadianto said the loan came from a syndicate of 16 banks led by Bank Mandiri, BNP Paribas and Sumitomo Mitsui Banking Corporation. Martiono said the credit would ensure that his company would

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-85906025365836444022011-06-13T01:38:00.000+07:002011-06-15T01:51:28.021+07:00

A surge in interest in Indonesian sub-bituminous coal swaps beginning in April has convinced some major coal players that the swaps could become the world's biggest coal derivatives market. "Indonesian sub-bit is fast emerging as an important supply source in the Pacific," Zenny Tran, coal team leader at Singapore-based brokers Ginga, told Reuters' Jackie Cowhig. "The physical seaborne traded

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-19958992260468675912011-06-13T01:26:00.001+07:002011-06-15T01:37:44.279+07:00

The USA's Commerce Department's International Trade Administration, US and Foreign Commercial Service is organizing an executive-led trade mission to China and Mongolia for at least 15 American companies that manufacture or distribute mining and mining safety equipment. The 23-28 October executive-led mission will include individual and government meetings to boost exports to an industry on which

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-10009242771926842242011-06-13T01:10:00.006+07:002011-06-15T01:13:59.585+07:00

Vietnam plans to build 90 coal-fired plants over the next 15 years because the economically booming nation has undergone frequent energy shortages, recently exacerbated by drought that diminished the output of the country's hydroelectric dams. The government  reportedly stated it will invest $83 billion to build the coal plants, which will double the country's energy production by 2020,

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-47089478516534199702011-06-13T00:51:00.001+07:002011-06-15T01:08:54.295+07:00

Indonesia may soon cease to be the favourite destination for coal-buying Indian power firms. This is due to the Indonesian government linking the price of coal exported from the country with a benchmark based on international prices of coal. The coal could be dearer by up to $40 a tonne. The new rule will also be applicable retrospectively to all contracts with mining companies having to modify

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-21540375873720619762011-06-10T00:41:00.000+07:002011-06-15T00:50:57.863+07:00

According to Vietnam's general statistics office, Vietnamese coal exports totaled 6.64 million tonnes in the first five months of 2011, down 25% year on year. In the first four months, over 70% of the coal exports went to China, 13% to South Korea and 11% to Japan. However state-owned Vietnam National Coal and Mineral Industries Group (Vinacomin) reportedly projects that its coal output will

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-19306753616077184982011-06-09T01:18:00.001+07:002011-06-15T01:26:05.707+07:00

Christian DeHaemer, Editor, Energy and Capital, writes: "In the next year, there will be a Mongolian energy IPO that will make headlines around the world and increase the wealth of the average Mongolian by a factor of 53. This company is known as Erdenes-Tavan Tolgoi ... commonly referred to as TT [which] has a massive deposit of coking coal. In fact the 6.4 billion metric tons is the world's

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-73671235198595898502011-06-07T23:38:00.000+07:002011-06-15T00:38:58.686+07:00

China is unlikely to cut the value-added tax on coal imports as such a move will only drive up international prices and in turn erase the price advantage of overseas supplies, traders and analysts told Reuters news agency. Industry watchers reportedly said there was little incentive for the Chinese government to give importers such a boost, as the country was already well-supplied with coal, with

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-50663822495013267642011-03-25T00:01:00.002+07:002011-03-25T00:01:00.323+07:00

“Indonesia is facing a future drop in export earnings from minerals and increased costs from importing industrial minerals if its exploration sector remains in difficulty,” Mr Malcolm Baillie, a three-decade pioneer in international best-practices in minerals exploration in Indonesia, said today. Mr Baillie is Chairman of the Forum for Exploration and Mining Development Indonesia / Forum

MGnoreply@blogger.com1tag:blogger.com,1999:blog-1920442491839623994.post-36351536916621621312011-03-24T23:52:00.000+07:002011-03-24T23:52:16.236+07:00

Thai shipping firm Thoresen Thai Agencies plc will invest in a new company, Qing Mei Pte Ltd, to develop a coal mining project in Indonesia. Incorporated in Singapore, Qing Mei will be a partnership between Thoresen Thai's wholly-owned subsidiary Soleado Holdings Pte Ltd, Soleado associate Merton Group (Cyprus) and Britmar (Asia) Pte Ltd, with a share capital of $4.84 million.

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-10717384513339854952011-03-24T23:45:00.000+07:002011-03-25T00:03:48.158+07:00

PT Newmont Nusa Tenggara (NNT), a partly-owned affiliate of Newmont Mining Corporation, has expressed its “shock” over a letter from the municipal head of West Sumbawa Regency in Nusa Teggara Barat province, stating he would stop the copper-gold mine operating from April. The ban will reportedly be implented if the Government of Indonesia does not grant the local government the right to purchase

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-15955924441080379632011-03-23T13:35:00.000+07:002011-03-23T13:35:52.332+07:00

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-37034602656258804112011-03-23T00:06:00.001+07:002011-03-25T00:14:33.396+07:00

The International Council on Mines & Metals’ Annual Review 2010 – Making progress through dialogue, reviews a year of "consensus-building and collaboration." In the foreword, ICMM President Anthony Hodge talks about the value of building strong relationships and highlights achievements made in 2010. These included an opinion survey on mining and sustainable development, which drew responses

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-47271440963316887322011-03-22T00:30:00.000+07:002011-03-25T00:51:39.666+07:00

TSX-V-listed Challenger Deep Resources Corp has entered into three separate Memorandums of Understanding which give its wholly-owned subsidiary, PT Bestindo Energy, the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects. Each of the coal projects is 100% owned by

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-64475507658764456702011-03-21T01:40:00.000+07:002011-03-25T01:42:02.024+07:00

The Indian government has "cleared" 77 Coal India projects with a production capacity of almost 185 Mt. According to the Outcome Budget 2011-12 document, the projects are among 142 projects identified by CIL and included in the XI Plan (2007-2012). The remaining 65 projects, with a capacity of 195 Mt are at different stages of approval. The Coal Ministry had earlier said that 46 CIL projects

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-57237055012889631892011-03-18T01:04:00.002+07:002011-03-25T01:08:56.385+07:00

Green Technology Solutions Inc’s joint venture with Rare Earth Exporters of Mongolia has hired SGS Mongolia Minerals to analyze the mineral content of a new mining property, owned by Mongolian trading and mining company Ar Erkhes, that the jv hopes to help develop. The Mongolian agent company for GTSO and REE signed a letter of intent earlier to assist in the marketing and development of a new

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-74233798417514926052011-03-17T01:11:00.000+07:002011-03-25T01:12:48.838+07:00

Nearly four years after the mining project received approval, work has commenced at the Lam Dong Bauxite-Alumina Complex in Bao Lam district, in the Central Highland province of Lam Dong, Vietnam. The project, conducted by the Ha Tu Coal Joint Stock Company under the Vietnam Coal and Mineral Industries Group (Vinacomin), will supply bauxite ore for aluminium processing at the complex, which is

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-71333358329414891292011-03-16T02:04:00.000+07:002011-03-25T02:09:47.284+07:00

With upwards of 2.7 Bt of thermal coal resources in East Kutai Regency in East Kalimantan province, Indonesia, Churchill Mining's shares rose earlier this year on reports that it was in talks with Indian power companies with a view to selling the its concessions. They were also supported by thermal coal prices, which are expected to break their record $125 a tonne peak set in 2008-09. However,

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-78214318135742389732011-03-15T01:43:00.000+07:002011-03-25T01:49:28.942+07:00

Australian-listed global coal group, Cokal Limited, has commenced drilling at its flagship Bumi Barito Mineral project in the Indonesian province of Central Kalimantan. “The first drill is in place on the BBM project and we have commenced the first hole of a program aimed at defining the coal quality, and ultimately the resource potential of the project area,” Cokal Executive Chairman Peter Lynch

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-40524502578377714562011-03-14T01:23:00.000+07:002011-03-25T01:25:26.563+07:00

New York-based Ash Improvement Technology Inc has signed an agreement for implementation of its CleanCem™ ash treatment process at a coal-fired power plant located in Chhattisgarh, India. This is AIT's first operation in India, with an expected production of over 350,000 tons of treated ash annually. Coal-fired plants have been in the spotlight in the US and abroad, spurring debate about coal

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-22813406013406096752011-03-09T01:30:00.000+07:002011-03-25T01:35:11.563+07:00

Fred Palmer, the chairman of the  World Coal Association and a key executive at Peabody Energy, the world's largest privately owned coal company, says the vast reserves of coal in the far west of China mean it is set to become the "new Middle East." He added that China is leading the US in efforts to develop technology to "clean" coal of its carbon emissions by burying them underground. In an

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-79307606417484297802011-03-08T01:19:00.000+07:002011-03-25T01:22:13.771+07:00

According to Prime Minister Sukhbaatar Batbold, Mongolia needs to look beyond the coal and copper mines that are driving its economic boom to find a more balanced model of growth. “It is important to have a good mining industry,” Batbold said in an interview with Bloomberg at a forum in Mongolia’s capital Ulan Bator. “But it is a tool of moving many other things forward. What we want to focus on

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-72098088469125337222010-09-17T20:32:00.000+07:002010-09-17T20:32:10.362+07:00

It seems every day a new chum is arriving in Jakarta to check out opportunities in Indonesia’s steadily reviving mining sector. Old hands are also gearing up for a new tilt, particularly now that Indonesia no longer strikes fear amongst investors on the TSX and ASX. This is all very good for Indonesia which has experienced a more than decade-long drought of significant exploration investment -

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-74258589628608589442010-08-03T10:02:00.000+07:002010-08-03T10:02:40.533+07:00

JAKARTA: Following 15 years of business development in Indonesia, South East Asia’s largest nation, leading international resource industry consultancy, CSA Global, has opened a new full-service facility in Jakarta to assist clients in a variety of gold, nickel laterite, tin, base metals and coal projects. “Our investment is significant and long-term and reflects the dynamic growth and

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-3268208721544341612010-05-25T12:16:00.002+07:002010-05-25T12:32:33.032+07:00

Australia's Australian Labor Party federal government knew it would generate a storm of industry and political protest when it unexpectedly announced the introduction of a Resource Super Profits Tax (RSPT) on mining companies commencing on 1 July 2012. Profits made on Australia's non-renewable resources will be taxed at a rate of 40% which will cut in at the government’s bond rate of 6%.

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-29833810985868270282010-03-31T23:45:00.001+07:002010-05-14T23:52:35.926+07:00

Indonesia’s provincial mining departments warn that the new national mining law may find difficulties in implementation because of the lack of discipline and management skills at the local government level and the failure of the central government to monitor and supervise the municipalities or empower to the provinces to do so on its behalf. Addressing the session of the regional government

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-88340008776821423062010-03-31T20:18:00.001+07:002010-05-14T20:20:45.997+07:00

Canadian-listed Ivanhoe Mines has finalised an investment agreement with its partners to develop the Oyu Tolgoi copper-gold project in Mongolia, and full-scale construction is set to begin in the second quarter. The company said the Mongolian government has confirmed that procedural and administrative conditions in the investment agreement have been satisfied. The Mongolian government will

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-52697650472233394082010-03-31T20:14:00.005+07:002010-05-14T20:18:00.482+07:00

Indonesian-listed PT Indika Energy Tbk has obtained contracts for 4 Mt of low-calorie coal sales to India and Finance Director, Arman Aziz, said the company is projected to achieve revenue growth of 25% this year. The company obtained 46% of its total net profit from coal mining subsidiary Kideco Jaya Agung, which recorded a net profit of $280 million, up by 22.05% from $229.4 million in 2008.

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-67910854350132978092010-03-31T20:12:00.001+07:002010-05-14T20:14:02.988+07:00

Indonesia's majority state-owened tin miner PT Timah Tbk has announced its 2009 net profit fell 77% to a better-than-expected Rp 313.8 billion ($34.5 million), from Rp 1.342 trillion rupiah in 2008. Analysts had forecast 2009 net profit of Rp 206 million, according to Thomson Reuters, reflecting a sharp decline in tin sales. The world's largest integrated tin miner also said revenue fell 15% to

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-39645688639536316852010-03-31T20:08:00.002+07:002010-05-14T20:11:59.776+07:00

The transfer of the Petroleum Resources Rent Tax model to the Australian minerals sector can provide advantages to the mining industry, but without adaptation it risks future investment, according to an article by BDO tax director Russell Garvey published in the Australian Journal of Mining. He said a shift to a Resources Rent Tax (RRT) for the mining sector would be ground breaking, but would

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-81964605836803468432010-03-31T20:05:00.002+07:002010-05-14T20:08:12.203+07:00

BHP Billiton Ltd has entered into a joint venture with a subsidiary of Indonesian-listed PT Adaro Energy for a coal project in Indonesia. Adaro will take a 25% stake in BHPB's Maruwai project, which covers seven contract areas in East and Central Kalimantan provinces, where undeveloped metallurgical and thermal coal resources are estimated at 774 Mt. "These agreements with Adaro provide a strong

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-89672081354207903732010-03-30T20:01:00.002+07:002010-05-14T20:04:17.852+07:00

Vedanta Resources Plc, a UK-based metals company listed on the FTSE-100 index , is awaiting the Indian government’s final clearance to start mining the Niyamgiri hills for bauxite for its alumina refinery close by. Its subsidiary, Sterlite Industries, which is co-owned by the Orissa state government, will operate the mine. The Christian Science Monitor reports that a rising tide of protest – by

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-11395024128376042672010-03-30T19:55:00.006+07:002010-05-14T20:00:58.855+07:00

PT Indo Tambangraya Megah, Indonesia's fourth-largest coal producer, said it will meet its 2010 sales target despite the police’s closure of its Jorong operation in South Kalimantan last month. Somyot Ruchirawat, president director of the company owned by Thailand’s top Banpu, said it would cover the Jorong shortfall by ramping up production at its Trubaindo and Bharinto mines in East Kalimantan

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-35890694696017591532010-03-30T19:52:00.000+07:002010-05-14T19:55:46.982+07:00

Subhash Projects & Marketing, India's Kolkata-based infrastructure company, will start commercial production of coal from its block in Indonesia in April, chief operating officer Rishabh Sethi said. The company had begun mining at the PT Bism mine in December. “We were waiting for the barge load conveyors to be readied,” he said. The conveyors are used to move the coal to a barge which then

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-45614041554397557632010-03-30T19:49:00.002+07:002010-05-14T19:52:04.566+07:00

Australian-listed Hillgrove Resources Limited announced that its Indonesian partner, PT Akram Resources, has been granted an Exploration Mining Business Licence (IUP Eksplorasi) for its 99,230 ha project in the Indonesian province of West Papua. Hillgrove has an 80% economic interest in the gold-copper prospect. The license gives PT Akram Resources the right to continue its exploration programs

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-31203045641048605312010-03-29T19:46:00.000+07:002010-05-14T19:49:22.482+07:00

Stern Hu, the Australian executive who led Rio Tinto Group’s China iron ore unit, was sentenced by a court in Shanghai, China, to 10 years jail after being found guilty of taking bribes from steel mills and infringing commercial secrets. His colleagues Liu Caikui, Wang Yong and Ge Minqiang were also found guilty and sentenced to between 7 and 14 years, Chief Judge Liu Xin said in the Shanghai No

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-49121366108151715882010-03-29T19:43:00.003+07:002010-05-14T19:46:32.822+07:00

Philippines-based Philex Mining Corp is exploring international mining acquisitions while bidding for a mine at the Mt. Diwalwal gold-rush area in Mindanao, Philippines. “We are taking a look at Mt. Diwalwal [but] that is not the only mining tenement [that we are interested in.] We are looking at other mining opportunities here and abroad,” Philex Mining Chairman Manuel V. Pangilinan told

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-25921306237831632812010-03-29T19:42:00.001+07:002010-05-14T19:43:39.482+07:00

Indonesia's biggest coal producer, Bumi Resources, expects coal production to increase by 10% in 2010 to 66 Mt, from 60 Mt in 2009, a company official told Reuters. The company produced 60 Mt in 2009, with sales above 58 Mt.

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-20956139302684303642010-03-29T19:38:00.001+07:002010-05-14T19:42:06.290+07:00

Chinese demand for gold is set to double in tonnage terms within just ten years according to the latest World Gold Council analysis, Gold in the Year of the Tiger . Over the past five years, demand for gold in China has increased at an average rate of 13% per year. Chinese gold consumption was worth more than $14 billion in 2009, which is equivalent to 11% of global gold demand. “The excitement

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-80271539911704835362010-03-29T19:34:00.001+07:002010-05-14T19:37:54.292+07:00

Indonesian prosecutors have reportedly secured evidence indicating misappropriations in a $33 million (IDR 300 million) tender for shipment, loading and uploading services of its coal at the Tarahan Port (Lampung province) of state-owned coal mining firm PT Tambang Batubara Bukit Asam. “We also have searched the office at Muara Enim [South Sumatra] and seized [documents]. We have questioned only

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-89780837903503807702010-03-27T19:32:00.000+07:002010-05-14T19:34:06.647+07:00

The CEO of Sindh Engro Mining, Khalid Mansoor, has announced his company is investing millions of dollars to develop Pakistan's Thar Coal reserves. Addressing the seminar on Energy Solutions from Coal and Bio Mass organised by University of Engineering And Technology in Lahore, he said the investment will guarantee energy security to Pakistan in decades to come and help lower the adverse impact

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-67844472607574886122010-03-27T19:29:00.001+07:002010-05-14T19:32:11.049+07:00

More than 1,100 striking workers at Bangladesh's state-owned Barapukuria Coal Mine Co Ltd (BCMCL) have returned to work after their demand for demand higher wages and shorter hours was met. The five day strike affected coal production at the Barapukuria mine, 415 km north of the capital, Dhaka. "All the miners have resumed work with satisfaction as their basic demand to raise wages was fulfilled

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-50930363224229223422010-03-27T19:27:00.001+07:002010-05-14T19:29:19.025+07:00

A joint study by India's national environment and coal ministries has found that as much as 35% of coal mining areas across the country are located in ‘no go’ zones, where environmental clearances cannot be given, DNA newsagency reported. A ‘no go’ zone is a densely forested area where mining cannot be allowed. The major coal mining areas in ‘no go’ zones are located in Chhattisgarh, Jharkhand,

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-27951749792956667782010-03-27T19:24:00.003+07:002010-05-14T19:27:18.520+07:00

Rebutting criticism by environmentalists, Australian government officials said mining could pose minimum risk to environment as long as it is conducted legally with modern equipment and in-depth study. "I agree with accusation by non governmental organizations about environmental damage caused by mining but it refers to small, illegal and traditional mining, not modern and legal," Australia's

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-11376940462895704582010-03-26T19:19:00.003+07:002010-05-14T19:22:19.105+07:00

Six Australian mining companies planned to invest at least $1 billion in Indonesia this year, an Australian government official has told Indonesian media. "This year, six big Australian mining companies will invest at least $1 billion compared with some $200 million last year," Australia's Senior Trade Commissioner for Indonesia, Rod Morehouse, told a press conference in Jakarta. However,

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-59359166464190347242010-03-26T19:17:00.001+07:002010-05-14T19:19:55.229+07:00

The number of private, fully-mechanised coal ports under construction or expansion in India and their sheer size has taken the international coal market by surprise. "We're going to have to revise our projections for Indian coal imports and look at the impact of the ports being built," John Kearsey, head of research at ship brokers Simon Spence & Young, told The Economic Times. India will need

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-17380371336002487722010-03-26T19:13:00.000+07:002010-05-14T19:23:45.223+07:00

Indonesia's state-owned electricity utility, Perusahaan Listrik Negara, has announced four joint ventures and one company have won coal supply contracts for power plants for the next 20 years: PT Bina Insan Sukses Mandiri and PT Tiramana, PT Energi Batubara Lestari and PT Batara Batari Sinergy Nusantara, PT Selatan Selabara and PT Fajar Visikalam, CV. Karya Utama Banua and PT Daya Bambu Sejahtera

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-50690037304034219392010-03-26T11:55:00.000+07:002010-03-28T12:14:47.361+07:00

Legislation that takes effect next month will give Indonesia’s Environment Ministry power to revoke business licenses and permits without having to go through police. The ministry will first use the new law to crack down on coal producers in the Kalimantan provinces “because there are companies that have built mines in forested areas without approval,” Indonesia's state minister for environment

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-16033962890268190552010-03-26T11:41:00.001+07:002010-03-28T11:49:55.773+07:00

Despite tensions between Australia and China over the charging of Rio Tinto executives for corruption and stealing of state secrets, Australia's Deputy Treasurer, Senator Nick Sherry, Has stated his government still welcomes foreign investment from all countries. "I, as a minister, and the government, strongly support, in the strongest terms, foreign investment into Australia," he said. "If you

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-61601773635396240472010-03-26T11:23:00.004+07:002010-03-28T11:41:19.048+07:00

China Sci-Tech has announced its acquisition of Canadian listed Chariot Resources Ltd. for $ 232 million. The Hong Kong-based company is also acquiring Queensland Lady Annie copper project from Cape Lambert Group. Chariot owns 70% of the Marcona copper property which has the Mina Justa project in southern Peru. Marcona covers over 32.000 hectares and comprises five prospects with Mina Justa

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-32517359025819294202010-03-25T14:24:00.001+07:002010-03-28T14:29:49.780+07:00

Indonesia's majority-state-owned mining company PT Aneka Tambang is seeking to borrow up to $325 million to finance its expansion plans from the Japan Bank for International Cooperation and other banks. Bimo Budi Satriyo, Antam's corporate secretary, said most of the loans would be used to provide financial support for its Tayan alumina processing plant. Money would also be allocated to its

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-68629393707387154782010-03-25T12:52:00.000+07:002010-03-28T12:54:15.314+07:00

China Railway Group has won a contract with Indonesia's Bhakta Hill Pan Pacific Railway Corporation worth $4.8 billion. China Railways will be responsible for the design, construction and maintenance of the South Sumatra project, with design and construction priced at $1.3 billion and maintenance at $3.5 billion. The contract includes four years of construction with an operational period of 20

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-56610480831322256002010-03-25T12:15:00.000+07:002010-03-28T12:51:03.769+07:00

India's Essar Group has signed an agreement to buy the coal mines of PT Aries Internasional Indonesia. The deal will reportedly give Essar Power access to an estimated base of 100 Mt of thermal coal and mineable reserves of 64 Mt, in addition to existing thermal coal reserves of about 275 Mt in India. The Aries coal mines are located in the Kutai region of East Kalimantan. Essar expects to close

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-78809541869280194172010-03-24T14:21:00.000+07:002010-03-28T14:23:24.680+07:00

Australian-listed Kingsrose Mining Limited is applying the finishing touches to its high-grade Way Linggo gold and silver mine in Indonesia's Lampung province in Sumatra with aim being to start commissioning the processing plant near the end of next month. Stockpiling ore from the mine has started with 14,000 t of material assaying 21.9 g/t gold and 293 g/t silver is ready for the process plant.

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-67631021799710854642010-03-23T14:29:00.002+07:002010-03-28T14:32:23.247+07:00

India's top power utility, NTPC Ltd, is expected to import 14 Mt of coal in the coming financial year 2010/11. "This financial year our target was to import 12.5 Mt, out of which we have imported only 5-6 Mt so far," R.S. Sharma, chairman of NTPC, told Reuters. The 14 Mt target for the next fiscal year will include a spillover of 8-9 Mt from some of the orders placed in the current financial

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-34340209664238582062010-03-22T23:08:00.002+07:002010-03-28T23:17:11.315+07:00

Australian-listed Pan Asia Corporation Ltd has reported on drilling results at its TCM Coal Project in Indonesia's South Kalimantan province. Ten drill holes were completed with the recently completed TCM 10 and TCM 11 drill holes also returning significant intersections of coal. TCM 10 returned six coal intersections over the length of the hole, with a cumulative thickness of 4.94 m. TCM 11

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-60115981060258615292010-03-22T22:32:00.003+07:002010-03-28T22:39:21.688+07:00

Robert Friedland, Executive Chairman of Canadian and USA-listed Ivanhoe Mines has announced that the company has closed its private placement with Rio Tinto. Ivanhoe Mines has issued 15 million common shares to Rio Tinto for $241.1 million and has used $195.4 million of the proceeds to purchase from Rio Tinto key mining and milling equipment for the Oyu Tolgoi copper-gold mining complex in

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-23536292160500707942010-03-21T14:19:00.001+07:002010-03-28T14:21:15.988+07:00

Indonesia's Merukh Enterprises Inc has gained a high calorie coal export contract from TMM Coal, a Mexican mining company, in a deal worth $3 billion. The first shipment of 20 Mt is to commence this year. Group chairman, Jusuf Merukh, said the export of coal with calorie between 6,835-7,414 cal/g will be supplied by Merukh Flores Coal, from production of operation located at Ngada regency, East

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-22109725151344576992010-03-19T14:16:00.000+07:002010-03-28T14:18:02.921+07:00

A $1 million scholarship program for Papuans to study in the USA, part of PT Freeport Indonesia’s corporate social responsibility program, has been welcomed by Indonesia's Deputy Minister of National Education, Fasli Jalal. “[This program] is strategic for Papua because the standards of Papuan universities, such as Universitas Cendrawasih and Universitas Negeri Papua, can increase through

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-14276249018426229202010-03-18T22:17:00.000+07:002010-03-28T22:19:48.285+07:00

Origo Partners, an AIM-listed private equity firm focused on China-linked core economic growth opportunities, has opened a new office in the Mongolian capital of Ulan Bator and created a new fund, Origo Altai Partners, to invest in the country. Origo sees Mongolia as a country of significant mineral wealth with resources encompassing gold, iron ore, molybdenum, uranium, oil, copper and coal and

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-22650909271887360572010-03-18T16:52:00.000+07:002010-03-28T17:02:20.739+07:00

Australian-listed OZ Minerals has reported that early work at its Mondulkiri province gold project in Cambodia has identified inferred mineral resources of 8.1 Mt of ore at grades of 2.3 g/t for 605,000 oz of gold at its interests in Okvau District. The company has drilled a total of 10,559 m at its 100% interest since 2006. It described the resource as a “foundation asset from which to build a

MGnoreply@blogger.com0tag:blogger.com,1999:blog-1920442491839623994.post-71610929573310560462010-03-18T13:49:00.000+07:002010-03-28T13:52:26.411+07:00

Indonesia's Mines ministry has ruled that Mining permit holders (KP) and regional government-issued mining permits must complete the transition process to the new mining permit (IUP) or local mining permit (IPR) by the end of April 2010. Director of Mineral and Coal Management of the Directorate of Mineral, Coal and Geothermal, Bambang Gatot Aryono, said the IUP completion deadlines has been

MGnoreply@blogger.com0