Miners get a message

Article Abstract:

Mines and Energy Department director-general of mining, Kuntoro Mangkurubroto, has conveyed to miners that Indonesia has no intention of instituting a major revamp of its mining rules. He noted the current "contract of work" system will be retained, giving recipients a guarantee that the contract's rules will not be changed for 30 years from the time of signing. The assurance was made as the Indonesian government approved the ownership settlement on the Busang gold find. The settlement allows Bre-X Minerals Ltd. to hold a 45% stake in Busang II.

Metal Ore Mining, Gold and Silver Ores, Gold & Silver Ores, Mining industry, Gold ores, Silver ores

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Year of living dangerously: Indonesia faces struggle in '98 to combat turmoil of slowdown

Article Abstract:

Indonesia's economy is likely to experience reduced growth rates for 1998 as the country struggles to face the regional currency crisis and the occurrence of a drought which is likely to adversely affect rural production. The country, which has been posting a growth rate of about 7% each year, has reported an 8% growth rate for 1996. The drought, which is the worst to hit the country in over 50 years, will also burden the urban sector since more people from the countryside are expected to look for employment in the city.

Administration of General Economic Programs, Currency Stabilization Programs, Management, Economic aspects, Currency devaluation, Devaluation (Currency), Currency stabilization, Droughts

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Lack of tariff protection clouds outlook for new olefins factory in Indonesia

Article Abstract:

Chandra Asri Petrochemical Center (Chandra Asri) is left to make it on its own without tariff protection and with a sales agreement with polyethylene maker, PT Petrokimia Nusantara Interindo (Peni) still pending. Peni and Chandra Asri have yet to agree on a pricing formula although a 6.2-mile pipeline has already been built between the two plants. Despite such obstacles, Chandra Asri can be consoled by the fact that it enjoys a strong backing from the Suharto government.

Plastics Material and Resin Manufacturing, Plastics materials and resins, Polyethylene, Contracts, Buildings and facilities, Petroleum chemicals industry, Petrochemicals industry, PT Petrokimia Nusantara Interindo

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