Jayapura`s Mt. Cycloops areas rich in nickel deposit

Jayapura (ANTARA News) - The Cycloops mountain range which stretches from Jayapura city to a number of districts in Papua, sits on a huge nickel deposit believed to be the biggest in the world, a local official said. "But the mining resource could not be exploited because the...

Inco, govt discussing review of royalty rate

"PT International Nickel Indonesia (INCO) and the energy and mineral resources ministry are currently discusssing a plan to review the rate of the company`s royalties to the government, the company`s chief said."We and the mineral resources ministry are discussing the rate of...

Indonesia`s Inco says strike over, production on target

"Around 500 of the 3,500 permanent workers had gone on strike initially, demanding higher wages and bonuses due to high nickel prices.But the number on strike dwindled to 150 to 200.Inco will pay a special bonus in the fourth quarter this year to all workers under the deal...

Indonesian shares outlook - Mixed ahead of central bank meeting

"Most economists polled by Thomson Financial are expecting Bank Indonesia to leave interest rates on hold tomorrow. They said the 75 basis point reduction in US interest rates in the past two months should give the Indonesian central bank greater leeway to reduce its key rate...

PT Inco Tbk Approves An Interim 2007 Dividend of $0.9787 Per Share

"PT International Nickel Indonesia Tbk (the "Company", JSX: INCO) today announced that the Board of Commisioners of the Company approved the proposal of the Board of Directors to distribute an interim 2007 dividend of $0.9787 per share, consisting of a nominal interim...

Antam`s Net Profit Surges 374% Billion (US$421M)

"Antam's President Director, Mr. Dedi Aditya Sumanagara said: "We are very happy with our record-setting financial performance for the first nine months of 2007. Together with higher nickel prices, we can see the significant benefits of boosting our production volumes, while...

PT Antam dan China`s Tshingshan eye steel project

"Tsingshan is China's top private stainless steel producer. Antam, 65 percent owned by the Indonesian government, is involved in exploration and production of nickel ore, smelting of ferro-nickel, exploration, production and refining of gold, silver, bauxite and iron...

PT International Nickel Indonesia Tbk. Reports That Q3 Earnings Doubled To $2...

""Third quarter 2007 production was 42.0 million pounds of nickel-in-matte, compared to production of 37.8 million pounds in the same period last year. Production during the third quarter was excellent, taking into consideration that we shut down furnace no.1 and furnace no.2...

Antam Operates FeNi III Smelting Plant At 20 MW

"Antam will continue to carefully monitor the furnace and ramp up to no higher than 25MW. Antam will operate at lower levels during the investigation as to what caused a leak to occur on June 16th, 2007. Antam's 2007 revised production forecast remains at 16,000 tonnes of...