Bumi Resources Minerals, an Indonesian (non-coal) mining company, targets to settle its USD $350 million debt to Credit Suisse AG in November 2016. The miner will use funds generated through the sale of its 24 percent stake in Newmont Nusa Tenggara (to Amman Mineral Internasional). Herwin Hidayat, Investor Relations Head at Bumi Resources Minerals, informed that the miner is currently still in talks with Credit Suisse and Amman Mineral Internasional regarding the debt repayment.
20 January 2022 (closed)
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Berita Hari Ini Newmont
Copper and gold miner Newmont Nusa Tenggara, the local unit of US-based mining giant Newmont Mining Corp, requested for a new recommendation letter from Indonesia's Energy and Mineral Resources Ministry. This recommendation letter is required to extend Newmont's six-month copper concentrate export permit at the nation's Trade Ministry. This would be the fourth time Newmont's export permit is extended. Whether Indonesia's Energy and Mineral Resources Ministry issues the export recommendation letter depends on progress made with the construction of smelting facilities.
Indonesian oil & gas exploration and production firm Medco Energi Internasional is reportedly eager to acquire a majority stake in copper and gold miner Newmont Nusa Tenggara (NNT), subsidiary of the US-based mining giant Newmont Mining Corp, which operates the Batu Hijau copper and gold mine on Sumbawa (West Nusa Tenggara). On Wednesday (25/11), the Medco Group informed Indonesian Coordinating Minister for Maritime Affairs Rizal Ramli that a MoU has already been signed between Medco and NNT to purchase a 76 percent stake, valued at USD $2.2 billion.
Indonesia's Ministry of Energy and Mineral Resources issued an export recommendation letter for copper and gold miner Newmont Nusa Tenggara (NNT), meaning that the company can resume copper concentrate exports for another six-month period after the previous permit expired on 22 September. Bambang Gatot, Director General for Coal and Minerals at the Energy Ministry, said NNT has met all requirements - including those related to NNT's commitment to establish domestic smelting facilities - in order to obtain the export recommendation letter.
Artikel Terbaru Newmont
Although the United States continues its traditional focus on direct investments in developed countries, primarily in Western Europe, there has been a significant rise in US investments in Indonesia in recent years. Whereas US investments in the developed economies of Western Europe is mostly found in the financial sector and through holding companies, in developing Asia, the US is more focused on the manufacturing sector due to lower production costs. In the last two years, the US emerged as the second-largest investor in Indonesia after Japan.
There has been quite some commotion regarding Indonesia's mining industry in recent years. The New Mining Law of 2009 implied a number of rigorous changes that are controversial up to the present day. The law was designed to increase Indonesia's profits from its own abundant natural resources, a sector in which many foreign companies are active. For foreigners the new law contains a number of protectionist measures that make Indonesia's mining industry less appealing.
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