The Indonesian government has dropped its fraud claim in a legal battle with over ownership of the East Kutai Coal Project in Kalimantan.
A number of documents have been submitted by Indonesia to the arbitration hearing in the US which Churchill said showed that it had received licence survey approval and that government witness statements were inaccurate in critical respects.
Indonesia and its Southeast Asian peers need to revamp their information technology infrastructure, update regulations and encourage an entrepreneurship ecosystem to generate an additional $1 trillion in its gross domestic product in the next decade, according to a report published by a consulting firm on Tuesday (23/02).
Gold’s progression continues, as the metal climbs back over the US$1200 mark for the first time since June last year. Much of this is due to investors flocking to gold and gold back funds as the market continues to face uncertainty and the oil price stagnates, with the metal representing a safe haven for investors.
Not even Chuquicamata, the world's largest open pit copper mine, seems to be able to rescue Chile at the moment. CourtesyPic of Codelco via Flickr
Resilience in the copper industry, its producers and investors, continues to be tested this year, as the metal price has touched fresh lows, falling last week to $1.95 per pound, a price last seen in May 2009, and analysts don’t see a clear end to China’s slowdown.
Indonesia loses $4 billion every year due to poor procurement practices in the public sector, according to a recent study by consultant firm A.T. Kearney. “This equals 40 years of operational cost for 32,000 schools in Indonesia. It also represents 20 percent of Indonesia’s public infrastructure spending,” said ShirleySantoso, a principal at Kearney, in a statement, a copy of which was obtained by the Jakarta Globe on Monday.
The Iron ore spot price has risen to a three-and-half month high in a positive session for metals. The 62% iron ore fines price rose by 2.9% or $US1.38 to $48.52 per tonne, its highest level since November 11. Base metals also gained ground on Friday, with zinc up by almost 2.9% to $1748.25/t, its best price since October. Nickel gained close to 2.8% to $8557.50/t, while aluminium was up by more than 2% to $1562.75/t.
The years of President Joko “Jokowi” Widodo’s administration are a crucial time for reducing Indonesia’s oil and coal dependency and turning to the abundant sources of renewable energy in Indonesia such as wind, hydro, biomass, sea-wave, solar, and geothermal energies, experts have said.
Silicon Valley - President Joko Widodo has asked Google to support the development of Indonesia’s digital economy, adding that he wanted to produce 1,000 technopreneurs by 2020.
“We expect support in education for IT developers,” said Jokowi when meeting with Sundar Pichai, Google’s CEO, in Googleplex, Silicon Valley, San Francisco, Wednesday, February 17, 2016.
Anglo American soared by 20%, while Glencore was up by 16%. Antofagasta gained close to 15%, while BHP Billiton and Rio Tinto each rose by more than 10% each. According to Bloomberg, it was the biggest one-day gain for miners since 2008. It came despite only moderate gains for metals in London, with copper and zinc the best performers with rises of around 1.1% each.
Indonesia the fourth most populous nation is ranked 109th among 189 economies. In a world where everything moves so fast and economic rivalry becomes fiercer among nations, Indonesia should no longer take anything for granted, or it will be left behind, says President Joko “Jokowi” Widodo.
New coal seam gas field testing of Tight Radius Drilling (TRD) technology at an operation in the Bowen Basin is delivering successful results. These tests, of the technology developed by CRCMining, are the first time that the radial drilling system has been deployed under the Petroleum and Gas legislation. Originally developed for coal mine gas drainage, Tight Radius Drilling is an alternative to fracking.