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Mining, oil & gas

A nuclear future?

Down to Earth No. 72 March 2007

The Indonesian government is putting in place arrangements to develop its highly controversial nuclear power programme - starting with a reactor on the Muria peninsula in densely populated Central Java.

In December 2006, Indonesia made an agreement with South Korea which paves the way for cooperation on Indonesia's nuclear power programme.

Freeport investor quits

Down to Earth No. 71, November 2006

Freeport McMoRan Copper and Gold, operator of the Freeport-Rio Tinto gold and copper mine in West Papua, has been dropped from the US$240 billion Norwegian government pension fund for ethical reasons.

DTE Factsheet: FOREIGN DIRECT INVESTMENT

DTE Factsheet, May 2006

What is FDI?

Foreign Direct Investment (FDI) is an important feature of an increasingly globalised economic system. It occurs when a company based in one country makes a long-term investment in a company located in another country. The 'home country' company may gain partial or total control of the 'host country' company. The direct investor does this by purchasing an existing overseas enterprise, providing capital to start a new one or buying 10% or more of it.

ADB to fund BP's Tangguh gas project

Down to Earth No 68  February 2006

Despite protests from NGOs, the Asian Development Bank has approved a loan for BP's giant Tangguh gas project in West Papua.

In December 2005, the Asian Development Bank (ADB) decided to put US$350 million towards the $5.5 billion gas extraction and liquefied gas processing plant, now being developed by Anglo-US multinational BP, in Bintuni Bay, in the western part of West Papua.

This project has attracted critical attention because of the actual and potential impacts on local people and the e

Mass protests challenge Inco

Down to Earth No 67  November 2005

This article, contributed by YL Franky of the Alliance of Indigenous Peoples of the Archipelago (AMAN), highlights ongoing protests against Inco, the Canadian-owned nickel mine at Sorowako, South Sulawesi.

Indigenous people affected by Inco's mining in Sorowako*, mineworkers, students and NGOs who have formed the Mine Victims' Solidarity Forum (FSMT), mounted a four-day occupation of the company's regional office in Makassar, South Sulawesi, from September 15 - 19th.

On 12 September, the FSMT

Energy policy ignores renewables

Down to Earth No 67  November 2005

Indonesian NGOs are concerned that fuel price rises are increasing poverty, while long term energy plans are failing to encourage alternatives to fossil fuels.

Indonesian politics have been dominated throughout the fasting month of Ramadan by the government policy to reduce fuel subsidies. The move breaks a promise made by SBY that fuel price rises in March would be the last this year. It has sparked weeks of angry protests and is already causing hardship for ordinary people.

Book Review - THE RISKS WE RUN: Mining, Communities and Political Risk Insurance

Down to Earth No 67  November 2005

by Roger Moody

International Books 2005, pp322 Available from info@minesandcommunities.org

Political risk insurance and export credit guarantees are not terms that normally grab people's interest - except those working in the financial sector. The Risks We Run should change this. This book shows how political risk insurance (PRI) helps to make the world safe for investors.