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JAKARTA — Indonesia’s new President, Joko “Jokowi” Widodo, promised to make life simpler for investors by beefing up the country’s threadbare infrastructure, untangling near-impenetrable regulations and sacking his ministers if they aren’t up to the job.

“We need to get our economy growing. To do that we must have more investment and also deliver in terms of infrastructure,” Jokowi told Reuters in an interview on Saturday, given on the condition that it not be published until after he was officially named winner.

A lack of roads, ports, electricity and other basic services, along with corrupt bureaucracies, is beginning to disenchant foreign investors, essential for the resource-based economy to grow.

Read more at: http://jordantimes.com/indonesias-new-leader-promises-to-make-life-easier-for-investors

Under current law, shareholders of a U.S. company that merged with an offshore entity would have to own less than 80 percent of the combined entity to take advantage of a lower foreign tax rate. Obama’s budget proposes slashing that cutoff to 50 percent.

Administration officials estimate the deals, if allowed to continue, will cost the U.S. Treasury $17 billion in lost revenue over the next decade.

Read more at: http://www.statejournal.com/story/26100882/obama-wants-limits-on-us-company-mergers-abroad

(Reuters) – Indonesia will cut the tax levied on mineral concentrate exports to less than 10 percent from 20-25 percent for miners that pay a bond as a guarantee they will build a smelter later, a government official said on Thursday.

The move will allow mining companies to restart exports even if they have yet to complete smelters that would allow them to process more ore on Indonesian soil.

“If you want to build a smelter then you’re eligible for a lower tariff for the concentrate export tax,” fiscal policy chief Andin Hadiyanto told Reuters, adding that no export tax would apply to finished metals.

Read more at: http://www.reuters.com/article/2014/07/24/indonesia-minerals-exports-idUSL4N0PZ4BS20140724

MOSCOW, July 24 (Reuters) – The Russian government said it would cancel export duties for nickel and copper ahead of schedule, as expected, signalling support for a project by Norilsk Nickel, the world’s largest nickel producer.

Prices of nickel, used in making stainless steel, have gained 38 percent this year after top exporter Indonesia in January banned shipments of unprocessed ore, leading to fears that shortages would develop.

Russia’s decision on Thursday to cut duties to zero from the current 3.75 percent for unalloyed nickel and 10 percent for copper cathodes will come into affect in 30 days after its official publication, which is expected in a few days.

The cut to zero was originally slated for 2016.

Read more at: http://af.reuters.com/article/metalsNews/idAFL6N0PZ3PA20140724

 

The biggest nickel mine in Central America has restarted operations amid violent clashes between indigenous people and security forces, disputes over land ownership, and ongoing lawsuits for gang-rape and murder.

The Fenix mine in Guatemala had been closed for 30 years, and was inaugurated by a visit this month to the site by president Otto Pérez, who called it the biggest investment in the history of the country.

But just one week later a community bordering Fenix known as Lot 8 Chacpayla, who are part of the predominant Maya Q’eqchi’ group in the region, say there were invaded by private security forces working for the firm which runs the mine, Compañía Guatemalteca de Níquel, now a subsidiary of the Cyprus-based Solway Investment Group.

Read more at: http://www.theguardian.com/environment/2014/jul/24/central-american-guatemala-biggest-nickel-mine-reopens-amid-violent-clashes

Goldman Sachs Group Inc. raised its price forecast for nickel as the market is swinging to a deficit next year following an ore-export ban in Indonesia.

The bank’s 12-month estimate is now $22,000 a metric ton, up 38 percent from the previous projection of $16,000, analysts led by Max Layton wrote in a report. They increased zinc and aluminum by at least 11 percent to $2,500 a ton and $2,100 a ton, respectively, saying iron ore, gold and copper have “the greatest downside” among the mining commodities.

Read more at: http://www.bloomberg.com/news/2014-07-24/goldman-raises-nickel-price-forecast-as-deficit-looms-amid-ban.html

JAKARTA, July 24 (Reuters) – Indonesia’s top two copper miners signalled they are nearing a breakthrough to allow a restart of concentrate exports, which have been halted for more than six months due to a dispute with the Southeast Asian country over new mining rules.

The comments come as Indonesian president-elect Joko Widodo prepares to assume power in October, and will take pressure off the new government to resolve the dispute, which has halted about $200 million a month in copper exports.

Read more at: https://finance.yahoo.com/news/u-mining-giants-nearing-indonesia-021225738.html

LAUNCESTON, Australia, July 24 (Reuters) – The election of reformist Joko “Jokowi” Widodo as Indonesia’s new president has spurred hopes of a rapprochement with global miners and the scaling back of some of the nationalistic resource policies.

Certainly the new leader of the world’s fourth-most populous nation is making the right noises, telling Reuters in an interview published July 22 that he wants to sit down with mining companies and resolve differences.

And indeed this was followed by Freeport-McMoRan, which owns the giant Grasberg copper mine, saying it expects to “imminently” sign an agreement with Indonesia that will allow for the resumption of exports of copper concentrate.

Read more at: http://in.reuters.com/article/2014/07/24/column-russell-indonesia-commodities-idINL4N0PZ0XQ20140724

With a healthy metal 3-D printing backlog reported last quarter, 3D Systems cannot seem to build its metal 3-D printers fast enough to keep up with demand, despite continuing to add capacity to produce more metal 3-D printers. Going forward, 3D Systems investors should look forward to EuroMold 2014 in November, when 3D Systems is likely to make new metal 3-D printing product announcements, to determine how 3D Systems continues differentiate itself from the competition.

Read more at: http://www.fool.com/investing/general/2014/07/22/how-3d-systems-corporations-metal-3-d-printers-are.aspx

(Reuters) – Indonesia’s new president Joko “Jokowi” Widodo said he wants to sit down with mining companies and other parties in a bid to resolve a row over mining policies that has halted $500 million of metal exports a month in Southeast Asia’s biggest economy.

The comment by the former Jakarta governor, who has a reputation for tackling entrenched interests, appeared to be a positive sign after an increasingly bitter dispute between the mining sector and the outgoing government.

Read more at:  http://www.reuters.com/article/2014/07/22/us-indonesia-election-jokowi-mining-idUSKBN0FR1YN20140722