A fundamental choice for Critical Minerals development: "Fascism or radical democracy?"

The global demand for critical minerals like lithium and copper is surging, but how we attempt to quickly extract them, argues Katherine Teh , Executive Chairman of Spektrum Development , presents a fundamental choice: embrace authoritarian tactics that disregard communities or pursue transparent, consent-based development. In this pivotal moment, the stakes are high-ranging, from environmental destruction to lost economic potential. Which path should be chosen? Katherine Teh of Spektrum Development addressing the 2024 ACFID Conference WE ARE AT a crossroads in the energy transition. The gap between what the mining industry promises and what it delivers has been widening, creating not only delays but the potential for significant socio-economic and environmental risks. As the demand for critical minerals like copper, graphite, and lithium increases, we’re facing mounting challenges in securing these resources quickly enough to support the transition to renewable energy. The Problem...

Antam to borrow $325M for nickel, gold projects

Indonesia's majority-state-owned mining company PT Aneka Tambang is seeking to borrow up to $325 million to finance its expansion plans from the Japan Bank for International Cooperation and other banks. Bimo Budi Satriyo, Antam's corporate secretary, said most of the loans would be used to provide financial support for its Tayan alumina processing plant. Money would also be allocated to its Cibaliung gold project and the Pomalaa power plant, he told The Jakarta Globe.

Antam aims to produce 18,500 t of nickel this year and will cooperate with coal miners PT Indika Energy and PT Nava Bharat Indonesia to build a coal-fired 2x75 megawatt Pomalaa power plant at its nickel project in Southeast Sulawesi province. Construction is expected to start this year and be completed in 2013.

Antam also plans to boost its gold production by expanding the Cibaliung gold mine in Banten province.The first gold output from the Cibaliung mine, acquired in 2009, is expected later this year. Antam forecasts that production will be about 500 kg this year and that it will reach full output of 2,000 kg/y from 2011. The Cibaliung gold project has a life of six years, with estimated gold reserves of 12,800 kg.

Antam’s gold mining business generated revenue of Rp 4.8 trillion last year, accounting for about 55% of the company’s revenue. It expects gold production of 2,580 kg this year.