Tag Archives: Indonesia

New tracking system to prevent fraud in #Nickel, #Tin mining

The government has launched an online tracking system for nickel and tin shipments to increase state revenue and improve governance in the mining sector. Already implemented for coal shipments since 2022, the Mineral and Coal Information System (Simbara) has now been expanded to encompass nickel and tin and is to be applied to other metallic minerals in the future.

Resource-rich Indonesia is the world’s biggest producer of nickel and one of the largest producers of tin. Simbara will enable the government to track the supply of nickel and tin from mines to domestic smelters. Finance Ministry Budget Director General said the government had launched the online tracking system for nickel and tin shipments given the two commodities’ increasingly strategic role in national and global economic development.

Read more at: https://www.thejakartapost.com/business/2024/07/22/new-tracking-system-to-prevent-fraud-in-nickel-tin-mining.html.

Vale Indonesia Blames Falling Nickel Price for Profit Dip

Net income at the Indonesian unit of global nickel giant Vale last year fell to less than a quarter of the figure a year earlier, unaudited results released on Thursday showed, a dramatic plunge the company blamed on lower global prices for the metal.
Vale Indonesia posted a net income of $67.5 million in 2012, down 80 percent from $333.8 million the previous year. Revenue fell to 19 percent to $967.3 million from $1.2 billion.

http://www.thejakartaglobe.com/business/vale-indonesia-blames-falling-nickel-price-for-profit-dip/575503