Marathon Oil Corporation announced that its subsidiary, Marathon Indonesia New Ventures Limited, has been awarded a 49 percent interest and operatorship in the Bone Bay Block offshore Indonesia.
The Bone Bay Block is approximately 1.23 million acres (or equivalent to 213 Gulf of Mexico lease blocks) and is located predominantly offshore southern Sulawesi Island, in the [...]

Serica Energy plc announces that it has been awarded the East Seruway Production Sharing Contract (”PSC”) offshore north Sumatra, Indonesia.
The East Seruway PSC covers approximately 5864 sq km (2264 sq miles) of the offshore North Sumatra Basin, Indonesia. Serica will be the operator of the PSC and will hold a 100% interest in the [...]

Indonesia has denied that it will set a quota for coal exports as it wants to reserve the coal for future use.
The reports had prompted rising interest in the country’s natural resources from energy-hungry China and India.
The reports were baseless and the new mining law likely to be passed by Parliament by June would in [...]

Indonesia plans to limit the area that metal and coal miners can explore to prevent domination by a few companies, a legislator said on Monday, a move analysts said could hurt already poor levels of investment.
Indonesia has some of the world’s largest deposits of coal, copper, tin, nickel and gold, and is keen to earn [...]

Thousands of workers from a giant US-run mine in Indonesia’s remote Papua province staged a noisy but peaceful protest Wednesday amid tight security to demand better wages and welfare.
Police, including from the paramilitary Brimob unit, stood guard as thousands of workers from the Grasberg gold and copper mine demonstrated outside the Indonesian headquarters of Freeport-McMoRan [...]

Nickel and tin hit new highs amid supply-side concerns and continued thin trading conditions as Chinese players celebrate the lunar year.
China is expected to resume trading next week.
Tin hit a new contract high of 13,850 usd a tonne amid falling inventories and continued concerns over supply disruptions in Indonesia.
Meanwhile another drop in LME stocks sent [...]

Nickel fell in London, erasing an earlier gain that took the metal to a record, on speculation growth in global demand for stainless steel will slow. Lead rose to its highest ever.
Stainless-steel production will expand 8 percent this year, from 13.2 percent in 2006, Michael Widmer, director of metals research at Calyon, said by phone [...]

Indonesian state-owned miner PT Aneka Tambang Tbk (Antam) said on Thursday its ferro-nickel sales in 2006 nearly doubled from the previous year thanks to higher output.
Antam said in a statement sales of ferro-nickel in 2006 rose 92 percent to 13,389 tonnes from 6,988 in the previous year.
Last year, output of ferro-nickel, a raw material for [...]

A mud volcano that inundated dozens of villages was probably triggered by commercial gas drilling, research published in a respected scientific journal shows, contradicting an Indonesian government minister who insists it was a natural disaster.
It is “very likely” that the mud flow on the island of Java, which has spewed a million barrels of mud [...]

Newmont Mining and other foreign owners are selling a combined 3 percent stake in a big copper and gold mine in Indonesia to local firm PT Trakindo Utama for about $100 million, two sources told Reuters on Friday.
“They will sell 3 percent to Trakindo. That is quite certain,” said one source who is familiar with [...]