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  • Indonesia has shipped 30.64 Mmt of coal in March 2012 - Source
  • Indonesia has set the MAY 2012 Coal Reference Price at US$ 102.12 per ton
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Monday, 23 May 11
BRMS IS TO START PRODUCTION FROM DAIRI PRIMA MINERALS


COALspot.com - The Presidential Decree No. 28 Year 2011 that allows conditional underground mining in the protected forest areas was issued on 19th of May 2011.

The Presidential Decree will be followed up by first, the Principal Agreement by the Ministry of Forestry (up to 2 years and can be extended), and second, the Borrow and Use Permit by the Ministry of Forestry (up to 20 years and can be extended). 

"The long awaited Presidential Decree issuance is truly great news to our zinc concession operated by our 80% owned subsidiary, PT Dairi Prima Minerals (“Dairi”), in North Sumatera. Our team is now in the process of submitting the formal request to ultimately obtain the Borrow and Use Permit to conduct the underground mining activities in the Dairi’s concession” said, Kenneth Farrell, the CEO of PT Bumi Resources Minerals Tbk.

Mr. Farrell further added,”The Presidential Decree which supports the conditional underground mining in the protected forest area is a huge improvement in the Indonesia’s mining industry. It will allow a lot of concession owners to monetize their mining reserves in the near future".

"This also means more added value royalties for the country (Indonesia). We remain optimistic that the Borrow and Use Permit for the underground mining in Dairi will be in place soon. This will lead to Dairi commencing its first production early in 2013 subject to the availability of such Permit and all other conditions being satisfied,”  he further said.


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Recent News

Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy The market remained variable. Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...


Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...


Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s be ...


Tuesday, 15 May 12
POTENTIAL BOOM OF CHINA’S COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...


Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points. The cape index was up by 2.41 pct closing at 1,61 ...


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