• OT sets new production records

    TURQUOISE Hill Resources’ Oyu Tolgoi Copper-Gold Project set new records for concentrate production and throughput during the June quarter. Copper and gold in concentrates increased 64.6% and 176.7% respectively from the previous quarter.

  • Gold production under way at Tembang

    SUMATRA Copper & Gold expected to start pouring gold at its Tembang Gold-Silver Project in South Sumatra by the end of September. The carbon-in-leach (CIL) process plant achieved practical completion in early September with waste material being fed into the facility eight weeks ahead of schedule.

  • Positive study for manganese smelter

    GULF Manganese Corporation’s proposal to construct a smelter to produce high carbon ferromanganese alloys has robust economics. A financial study shows the smelter, proposed to be constructed near Kupang in West Timor, could return EBITDA of US$623.8 million over 20 years.

  • Increased resources at Tembang project

    SUMATRA Copper & Gold has released updated resource estimates for the Berenai, Siamang and Bujang deposits at Tembang Gold-Silver Project in South Sumatra. There are now 200,000 ounces of gold and 3.175 million ounces of silver, up from 167,500 and 2.618 million ounces a year earlier.

  • Design work for pig iron project

    THE basic engineering design (BED) of the beneficiation plant for Indo Mines’ Pig Iron Project at Kulon Progo in Java was expected to be completed by the end of the June quarter. The work has been carried out by Ferrostaal Indonesia and is a key element for the iron plant’s BED as concentrate produced over the life of mine must be consistent in terms of its chemical and physical properties such as iron, silica and phosphorous content.

  • Antam gold sales up by 180%

    Gold sales by Indonesia’s PT Antam (Persero) TBK increased by 180% to 353,530 ounces in the first half of 2015 compared to the corresponding period of 2014. Ferronickel sales also grew by 27% to 11,307 tonnes.

  • Program to expand Martabe resources

    G-Resources continues its successful exploration program at the Martabe Gold and Silver Project in North Sumatra, Indonesia, with recent work focusing on expanding the mineral resource estimates and regional exploration targets.

  • Indonesian coal royalty increase postponed

    The Government of Indonesia has postponed its plan to raise royalties for the country’s coal miners as a result of the coal sector’s current troubled climate caused primarily by low prices.

  • INDONESIA - New tax on thermal coal exports

    The Indonesian government plans to levy a new 1.5% tax on thermal coal exports from next month in a move aimed at keeping more of the coal at home and boosting state revenue. However, it is also a move that will hit miners hard in light of the fact they are already having difficulty coping with weak prices.

  • INDONESIA - Another strong Martabe quarter

    After a record first quarter for 2015, G-Resources Group has continued its strong performance at the Martabe Gold-Silver Project in Sumatra. During the second quarter the mine and process plant treated 993,000 tonnes of ore at 2.81 grams/tonne head grade, yielding gold production of 72,096 ounces and silver production of 631,189 ounces.

  • INDONESIA – Belinau portal access reached

    Portal access for the planned decline has been reached at the Belinau underground mine at Sumatra Copper & Gold’s Tembang Gold-Silver Project in Sumatra. Ground support preparations are now under way with decline development on schedule to begin in early August.

  • INDONESIA - East Asia to sell Sangihe stake

    East Asia Minerals has entered into a definitive agreement with PT Arsinali which provides for the sale of 50% of the company’s interests in Sangihe Gold Corporation, which holds a 70% interest in PT Tamang Mas Sangihe, an Indonesian company holding the company's interests in the Sangihe Gold Project in North Sulawesi.

  • INDONESIA - New Ratatotok production run

    Following successful completion of a test run, Borneo Resource Investments has commenced full production at its recently completed leach pad on the 8 hectare Ratatotok Gold Project in Sulawesi. The property was acquired by the company late last year.

  • INDONESIA – Bukit Asam upgrades port

    PT Bukit Asam (Persero) Tbk (PTBA) has inaugurated a new jetty at Tarahan Port in Bandar Lampung, South Sumatra. The jetty’s annual capacity has been upgraded to 25 million tonnes with capacity up to 210,000 DWT (Capesize).

  • INDONESIA – Smelter licence process time reduced

    The licensing process time for Gulf Manganese Corporation’s planned Timor smelter has been substantially reduced as a result of the Indonesian Government’s introduction of the Investment Coordination Board’s (BKPM) ‘one stop shop’ procedure. Gulf has been advised that the Industrial Business Licence (IUI) will take 20-25 days from application to be approved.

  • INDONESIA - Asia Resource Minerals fined

    Asia Resource Minerals, formerly known as Bumi Resources, has been slugged with a £4.65 million fine by the UK’s Financial Conduct Authority(FCA) for listing irregularities. The FCA said the company had committed serious breaches in relation to a number of disclosure and transparency rules between listing in 2011 and July 2013.

  • INDONESIA - Pan Asia to sell TCM stake

    Pan Asia Corporation has entered into an exclusive Heads of Agreement with Universal Coal Resources of Singapore for the commercial sale of its 75% interest in the PT Transcoal Minergy (TCM) high CV thermal coal project in South Kalimantan. Universal has agreed to purchase Pan Asia’s 100%-owned Singapore subsidiary, Innovation West Mantewe (IWMPL), owner of the 75% interest, for Sin$30 million.

  • INDONESIA – Open pit mining begins at Tembang

    Open pit mining has started at Sumatra Copper & Gold’s Tembang Gold-Silver Project in Sumatra. Construction of the carbon-in-leach (CIL) process plant and infrastructure remain on track for first gold pour in the fourth quarter of 2015.

  • INDONESIA - Gulf shareholder increases stake

    Gulf Manganese Corporation’s substantial shareholder Leprechaun Holdings has increased its stake in the company to 33.88% from 27.25% through the conversion of convertible notes. Leprechaun converted the notes into 7.5 million shares at $0.03 each, taking its total holding to 27.6 million shares.

  • INDONESIA – Cakra receives underwriting agreement

    Metallurgical coal group Cokal Limited has been advised by PT Cakra Mineral Tbk (CKRA) that an underwriting agreement has been entered into for the US$100 million rights issue which is a key part of its takeover bid for Cokal. CKRA intends to raise approximately US$100 million by way of a rights issue fully underwritten by PT Sinamas Sekuritas.

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