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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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Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...


Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...


Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...


Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...


Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...


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