NOT only is the Indonesia economy South East Asia’s largest, it is also one of Asia’s most resilient and one of the hottest emerging economies in the world. Much is written about the continuing growth of China and India but Indonesia’s strengthening domestic situation, its abundance of natural resources, supportive government and strong private sector are attracting global interest.
SOCIETY needs to realize that the world’s financial problems cannot be solved by governments printing more paper money and creating more debt, as has been the case since the link between gold and money was removed more than 40 years ago. Gold is the purest form of currency, followed by increasingly attractive silver, and the gold standard needs to be reintroduced.
Until now the strongest protests and only significant voice raised against the Australian Federal Government’s proposed Mineral Resource Rent Tax (MMRT) has come from the mining industry itself and primarily from the iron ore and coal sectors which will be directly affected.
The Asia Pacific region will continue to be the sole source of market impetus for the coal industry during the remainder of 2011 and throughout 2012, with China, and to a lesser extent India, driving demand and Australia, Indonesia, and to a lesser, but increasing, extent Mongolia, the supply side. South Africa will also play a major role in satisfying Asian demand.
Based in Melbourne, Victoria, Australia, John Miller has been working as a mining journalist for The ASIA Miner for the past seven years, focusing on mining developments throughout Asia and Australia. He was promoted to editor, The ASIA Miner, during July 2010, is editor of Coal Age Indonesia and has responsibility for E&MJ Australian coverage. John has more than 30 years experience as a journalist. He is also an author with more than five historical books published and a biography published. He has also served his community as a city Councillor and was mayor of Orange from 2002 to 2004.