• INDONESIA - Bukit Asam increases resources

    PT Bukit Asam has acquired two Central Kalimantan-based companies in a move which will provide it with an additional 292 million tonnes of coal resources. Bukit Asam has taken over coal miner Tabalong Prima Resources (TPR) and coal transport company Mitra Hasrat Bersama (MHB) in a transaction worth US$36 million.

  • INDONESIA – Wetar expansion work continues

    Work continues on construction of the 25,000 tonnes/annum copper cathode SX-EW plant at Finders Resources’ Wetar Copper Project.

  • INDONESIA - Churchill cleared of fraud

    The Indonesian Government has dropped its fraud claim against Churchill Mining in their protracted legal battle over ownership of the East Kutai Coal Project in East Kalimantan. East Kutai is a huge deposit with an estimated 2.73 billion tonnes of thermal coal.

  • INDONESIA - Pepcap secures coal concessions

    Pepcap Resources Inc has closed the acquisition of 51% of the total issued and outstanding shares of Asia Mining Management BV. As a result of completing the qualifying transaction Pepcap holds an indirect controlling interest in PT Krida Darma Andika, a 99.6%-owned subsidiary of Asia Mining that owns coal mining concessions in Sumatra.

  • INDONESIA – Positive study for manganese smelter

    A new study has highlighted the robust financial project economics of a proposal by Gulf Manganese Corporation to construct a smelter near Kupang in West Timor to produce high carbon ferromanganese alloys. The study show the smelter could return EBITDA of US$623.8 million over 20 years.

  • INDONESIA – Resource update at Tembang project

    Completion of a 52 hole, 4380 metre drilling program at the Tembang Gold-Silver Project in South Sumatra has enabled Sumatra Copper & Gold to release updated resource estimates. The new estimates are for the Berenai, Siamang and Bujang deposits.

  • INDONESIA – Finders bank facility finalized

    Emerging low-cost copper cathode producer Finders Resources has passed the final milestone in financing of the Wetar Copper Project on Wetar Island. Finders’ Indonesian subsidiary PT Batutua Tembaga Raya (BTR), which operates the project, has completed the mandatory hedging program under its US$165 million senior project finance facility agreement.

  • INDONESIA - PHI to acquire BDM concession

    PHI Group has signed an agreement to acquire 70% ownership in CV Berkat Do’A Mama (BDM), an Indonesian company that owns a 6200-hectare coal concession in Kapuas, Central Kalimantan. The concession has an estimated deposit of 33 million to 50 million tonnes and the calorific value of the coal is GCV 5800-5600 Kcal/kg ADB.

  • INDONESIA - Strong BKM assay results

    Assay results from the first four holes drilled at Kalimantan Gold Corporation’s flagship Beruang Kanan Copper Project (BK) in 2015 have revealed high-grades of copper and have, therefore, confirmed the project’s potential. Three of the holes unearthed high-grades, some of it near surface and one revealed three distinct mineralized sections.

  • INDONESIA – Western Mining graphite offtake

    Western Mining Network has signed its first long-term offtake agreement for graphite from the Tamboli Graphite Project in Sulawesi. Korean industrial supply company Dongsung Highchem Co Ltd will annually purchase up to 50,000 tonnes.

  • INDONESIA – Martabe has best quarter to date

    The first quarter of 2015 was the best quarter to date at G-Resources’ Martabe Gold-Silver Project in North Sumatra. With 84,220 ounces of gold and 657,364 ounces of silver poured, G-Resources has revised its full year 2015 guidance to 285,000 ounces of gold and 2.3 million ounces of silver, up from 250,000 and 2.2 million ounces respectively.

  • INDONESIA - Design work continues for pig iron project

    The basic engineering design (BED) of the beneficiation plant for Indo Mines’ pig iron project at Kulon Progo is expected to be completed by the end of the month. The work is being carried out by Ferrostaal Indonesia.

  • INDONESIA – CKRA and Cokal enter agreement

    PT Cakra Mineral Tbk (CKRA) and Cokal Limited have entered into a bid implementation agreement under which CKRA will make a conditional off market takeover bid for all of the shares in Cokal. The cash consideration of the offer values Cokal at approximately Aus$75.45 million.

  • INDONESIA - Gulf considers name change

    Gulf Minerals Corporation will seek approval from shareholders later this month to change its name to Gulf Manganese Corporation. The company believes the name change will better reflect operations as it develops an Indonesian based manganese ore and alloying enterprise, and proposes to make application to list on the Singapore Exchange Catalyst Board.

  • EPCM contract for Wetar expansion

    FINDERS Resources’ subsidiary PT Batutua Tembang Raya has awarded a contract to Perth-based GR Engineering for provision of engineering, procurement and construction management (EPCM) for the Wetar Copper Project expansion. The contract involves provision of EPCM services for a 25,000 tonnes/annum processing plant and associated infrastructure for the expansion project.

  • Robust granted production licences

    THE Indonesian Government has granted Robust Resources 11 mining business licences (Production IUPs) for the mining of precious and base metals, from its Romang Island projects. These licences allow the right to conduct full-scale production activities within the concession area for a period of 20 years.

  • ANTAM plans nickel pig iron plant

    PT ANTAM (Persero) Tbk and Ocean Energy Pte Ltd of Singapore have entered a cooperative relationship through which ANTAM’s subsidiary PT International Mineral Capital and Ocean Energy intend to develop a nickel smelter in East Halmahera, North Maluku. The companies have signed a shareholders agreement and plan to develop a nickel pig iron plant in two stages.

  • Martabe production exceeds expectations

    PRODUCTION at G-Resources’ Martabe Gold-Silver Project in 2014 exceeded expectations with 275,515 ounces of gold produced and more than 2.2 million ounces of silver. Costs for the 12 months were well within guidance at an all-in sustaining cost (AISC) of US$700 per ounce of gold sold compared to US$799 in 2013.

  • INDONESIA - Borneo negotiating funding

    Borneo Resource Investments says it is close to completing an agreement which will see a Chinese-based group invest a total of US$3 million in the company through the purchase of common shares. This is expected to occur before the end of the second quarter.

  • INDONESIA - Churchill accused of breaking AIM rules

    Churchill Mining, which is locked in a court case with the Indonesian government over coal assets, is now involved in a regulatory issue after the London Stock Exchange (LSE) accused it of breaching AIM rules.

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