Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Miners look to S. Korea, China amid low investment

  • Stefanno Reinard SulaimanĀ 

    The Jakarta Post

Jakarta   /   Fri, May 17, 2019   /  04:35 pm
The Jakarta Post Image
Activities at one of the coal mining sites owned by PT Adaro Indonesia in Balangan, South Kalimantan.(The Jakarta Post/R. Bertho Wedhatama)

Indonesia’s second-largest coal producer, PT Adaro Energy, has started looking to China and South Korea for potential funding sources as countries in Europe have shifted away from investing in coal-related businesses such as power plants and mining due to climate concerns. A report released in February by global energy think tank Institute for Energy Economics and Financial Analysis (IEEFA) shows that over 100 global financial institutions have shifted away from thermal coal, including 40 percent of the top 40 banks and 20 insurers. Dharma Djojonegoro, the vice president of Adaro Energy’s power subsidiary PT Adaro Power, told the press on Wednesday that finding new financing for a coal-fired power plant (PLTU) project has become difficult. However, he remains upbeat about financing options from China and South Korea.   “It’s hard for us to fi...