PT Alamtri Resources Indonesia Tbk (ADRO), the Jakarta-listed natural resources company, is entering a new stage of growth as its aluminium smelting investments begin to take shape alongside stronger margins from its metallurgical coal business. The outlook has strengthened Sucor Sekuritas' view of...
Indonesia's Attorney General's Office has seized assets worth IDR 338.36 billion (USD 19.1 million) and named five suspects in an alleged corruption case involving a bauxite mining permit in West Kalimantan. Indonesia's Attorney General's Office (AGO) has seized IDR 338.36 billion (USD 19.1...
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Recent tax developments by Indonesia's government aimed at promoting local mining are expected to increase prices of coal and aluminium among others as demand for metals in India and China continues to rise. Last week's announcement by Indonesia's government that it is considering a tax on the...
Japan's largest secondary aluminum alloy smelter Daiki Aluminium Industry earlier this month started up its first Indonesian plant, which has the capacity to produce 2,500 mt/month of alloys, a company official said Wednesday. Daiki Aluminium Industry Indonesia began production of secondary...
PT Indonesia Asahan Aluminium (Persero) or Inalum will potentially reduce, even stop the import of raw material alumina, as the government plans to impose disincentives for non-renewable natural resources in 2014.
Indonesia is considering imposing a tax on exports of mineral ores and concentrates such as nickel, copper and iron ore before their shipment in non-processed form is banned in 2014, Industry Minister Mohamad Hidayat said. A tax would encourage domestic processing of the metals, Hidayat said in...
State-run NALCO, which plans to set up a 1,250-MW power project and an aluminium smelter in Indonesia, will complete due diligence on a proposal for sourcing coal for the projects by the end of this month, a senior company official said. "We are in the process of evaluating the reserves of two coal...
State-owned aluminium producer Nalco plans to invest Rs 57,903 crore by 2020 on expansion, including the setting up of two large aluminium smelters in India and abroad. The Navratna firm would invest Rs 16,500 crore in Indonesia for setting up a 5 million tonne (MT) smelter, with 1,250 MW power...
According to China Customs, China imported 3.49 million mt of bauxite during June, down over 1 million mt, or 22.45%, compared with May’s 4.50 million mt. All June imports were from Indonesia and Australia, with 2.75 million mt from Indonesia, down 21.04% from May, and 742 kt from Australia, also...
Operations at Dubai-based MEC Holdings’ aluminum smelter in East Kalimantan are expected to start as soon as next year, a local government official said on Wednesday. Construction of the $5.6 billion smelter, a joint venture between MEC and India’s second-largest aluminum producer, Nalco, began in...
Japanese firm Showa Denko relishes JBIC support for its Indonesian alumina investment. The Japan Bank for International Cooperation (JBIC), Mizuho and the Sumitomo Trust have signed a ¥26.3 billion ($328 million) loan with Indonesia Chemical Alumina (ICA) to support the first alumina production...
East Kutai regent Isran Noor said Wednesday that a Dubai-based company and an Indian aluminum producer had started the development of an aluminum smelter in Muara Wahau, East Kutai, East Kalimantan. In addition to the smelter, the two companies — Mineral, Energy, Commodities (MEC) Coal and National...
India's state-run National Aluminium Co Ltd (NALCO) is in talks to invest in an aluminium smelter in Indonesia's Kalimantan province, an official at Indonesia's investment agency said on Thursday.
The government said on Tuesday that it would spend $700 million to buy the stake held by Nippon Asahan Aluminium in their joint venture Indonesia Asahan Aluminium. The government will purchase NAA’s 58.9 percent stake in the firm known as Inalum before its working contract ends in 2013, Industry...
With a stake sale of gold miner Newmont Nusa Tenggara in limbo, the government has set its eyes on the divestment in 2013 of another company controlled by foreigners — Indonesia Asahan Aluminium. “Is there a plan to buy shares in companies similar to Newmont? I think, yes,” said Soritaon Siregar,...
BS reported that Mr B L Bagra acting CMD and director finance of Nalco said that the company would choose the partner for its ambitious USD 4 billion Indonesian aluminum smelter project in the next fortnight.
Indonesian Electric Wire Plant Association chairman, Noval Jamalullail, has complained about the lack of aluminum materials for local wire production. PT Indonesia Asahan Aluminium (Inalum), the company providing the raw materials, does not have sufficient supply. “Businessmen have to import them...
Public sector aluminium major, Nalco , will hive off its non-aluminium business — power and other mineral mining into separate entities after they have reached a critical size, its chairman, BL Bagra said in Kolkata on Friday. The company is looking at earning 25% of its total turnover to come from...
National Aluminium Company Ltd has said it will decide on buying stake in an Indonesian coal mine by July-end after going through the due diligence report. “IFCI will submit the due diligence by the first week of July. After going through the report, we will take our call on buying stake in the...
Aneka Tambang, the nation’s largest publicly traded gold-mining company, secured a $292.5 million loan from Japanese banks to help finance the construction of a chemical grade alumina project on an island off West Kalimantan. The Japan Bank for International Corporation and two other commercial...
