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...

ITM to meet sales target despite mine closure

PT Indo Tambangraya Megah, Indonesia's fourth-largest coal producer, said it will meet its 2010 sales target despite the police’s closure of its Jorong operation in South Kalimantan last month.

Somyot Ruchirawat, president director of the company owned by Thailand’s top Banpu, said it would cover the Jorong shortfall by ramping up production at its Trubaindo and Bharinto mines in East Kalimantan. He could not offer a date for Jorong to reopen, saying the Forestry Ministry was still processing the permit.

Police in February temporarily shut Jorong, saying ITM’s land-use permit had expired. The industry has long been hindered by a tangle of conflicting regulations that has resulted in other closures as well.

Trubaindo is targeted to produce 6 Mt of coal, up from 5.2 Mt last year, Ruchirawat told The Jakarta Globe. He added that the Bharinto mine was due to start production by the end of this year with an initial production target of 0.2 Mt. Jorong had been slated for output of 2 Mt  this year.

ITM earlier reported profit of $335.51 million last year, a 42.8% rise compared with $234.92 million in 2008, mainly on stronger sales and lower operational costs. Total sales in 2009 were up 15% to $1.5 billion, while operational costs fell 2.3% to $134.5 million.