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09 Jul 2024, 14:44 PM

Central Omega (DKFT) Becomes Controller of Smelter Company

emiten DKTF
PT Central Omega Resources Tbk (DKFT) announced that there had been a sale of shares by PT Mocrolink Nickel Development (MND) in two subsidiaries, namely PT Macrolink Omega Adiperkasa (MOA) and COR Industri Indonesia (CORII). This sale will take place on July 1, 2024.DKFT Director, Feni Silviani Budiman, stated in his written statement that MND had sold 4,500,000 MOA shares, which is equivalent to 60%, to DKFT with a transaction value of IDR 1.Apart from that, MND also sold 268,892 CORII shares, equivalent to 40%, to MOA with a transaction value of IDR 1.With this transaction, DKFT now owns 7,499,900 MOA shares, equivalent to 99.99%, while Andi Jaya owns 100 shares, equivalent to 0.001%.On the other hand, DKFT also owns 391,776 CORII shares, equivalent to 59.30%, while MOA now owns 268,668 CORII shares, equivalent to 40.70%.Feni added that with this transaction, DKFT is now the controlling shareholder in MOA and remains the controlling shareholder in CORII. This shows DKFT's strategic steps in strengthening its position in the nickel industry.CORII is a subsidiary of the Company which operates in the field of nickel ore processing (smelter). Since November 2021 until now, CORII is not operating due to the maintenance program.There are similarities in the members of the Board of Commissioners and Directors between CORII and MOA. Meanwhile, MIM is a party that is not affiliated with the Company. "However, this affiliate transaction is not a conflict of interest transaction as intended in POJK 42/2020," wrote management.
09 Jul 2024, 14:42 PM

Building a Nickel Smelter, HRUM Disburses Loans of Up to IDR 9.49 trillion to Subsidiaries
PT Harum Energy Tbk's ambition to develop the nickel business seems to be no joke. HRUM, through its subsidiary, namely Tanito Harum Nickel (THN), disbursed a loan of up to USD 580 million or the equivalent of Rp. 9.49 trillion to PT Blue Sparking Energy (BSE). Both parties have signed a loan agreement on June 26, 2024.Withdrawals on loans can be made more than once. This loan bears interest on the principal amount outstanding at a Secured Overnight Financing Rate (SOFR) of 2.7% per year.This is an affiliate loan. For your information, Blue Sparking Energy is a subsidiary of HRUM. The reason is, HRUM through Tanito Harum Nickel owns 51% of Blue Sparking Energy shares. Meanwhile, HRUM controls 99% of the shares in Tanito Harum Nickel.In an information disclosure on the Indonesian Stock Exchange, HRUM Management explained that this loan transaction was a form of continuation of the nickel mining and processing business. Blue Sparking Energy is currently in the development and construction stage of a nickel processing project, namely high pressure acid leaching (HPAL) located in Central Halmahera.This project is designed to produce nickel-cobalt hydroxide intermediate product, namely MHP or mixed hydroxide precipitate with an installed capacity of around 67,000 tons (plus or minus 10%) of nickel equivalent and around 7,500 tons (plus or minus 10%) of cobalt."The loan agreement is to finance the development and construction of Blue Sparking Energy's project, working capital, and for general purposes and company investment," explained HRUM management.Depressed performanceAs of quarter I-2024, HRUM posted revenue of USD 265.97 million or a decrease of 9.68% from revenue in quarter I-2023 which reached USD 294.50 million. There are several factors that influence HRUM's performance.First, coal sales volume in the first quarter of 2024 fell 9.6% quarterly and 9.1% annually, aka year on year (yoy) to 1.7 million tons.Second, the average selling price (ASP) of HRUM coal fell 37.9% yoy to USD 99.9 per ton compared to the ASP of coal in the same period last year which reached USD 160.9 per ton.From the bottom line, HRUM's net profit shrank 99.04% to only USD 987,319 from previously reaching UD 103.02 million in the same period last year. One of the causes of this decline in net profit is the completion of the nickel company acquisition process.In January 2024, HRUM's subsidiary, namely PT Harum Nickel Industry (HNI), acquired an additional 60.7% stake in WEstrong Metal Industry (WMI) with an acquisition cost of USD  215 million. This additional acquisition resulted in an increase in share ownership in WMI from only 20.0% to 80.7%.With the completion of the transaction, there is an adjustment to the fair value of the asset, where WMI's liabilities identified before the transaction date are remeasured and reflected as an accounting adjustment. The negative adjustment resulting from this remeasurement amounted to USD  30.7 million which will be charged in the first quarter of 2024. This combination of factors is what makes HRUM's net profit depressed.
09 Jul 2024, 14:17 PM

Merdeka Copper Gold (MDKA) Aims to Improve Operational Performance in 2024

KONTAN/Akmalal Hamdi
PT Merdeka Copper Gold Tbk (MDKA) is aiming to improve operational performance in 2024 in line with the trend of increasing commodity prices.General Manager Communications of PT Merdeka Copper Gold Tbk Tom Malik said that the Tujuh Bukit Gold Mine Project targets production in the range of 100,000 ounces to 120,000 ounces. Meanwhile, Wetar Copper Mine production is targeted at 14,000 tons to 16,000 tons."The increase in prices of metal commodities such as copper, gold and nickel due to various global events will certainly have a positive influence on the performance of the Merdeka Group. As a mining company, we are price takers because the price of metal commodities depends on global supply-demand," said Tom to Kontan, Wednesday ( 3/7).Tom explained that the price of gold is currently at USD 2,300 per troy ounce and is predicted to increase this year. Meanwhile, the price of copper, which is now USD 9,400 per ton, is also predicted to increase.Optimism for growth in operational performance, especially in the copper sector, is also supported by a new source of income, namely pyrite ore which is sent to the AIM (Acid Iron Metal) Project belonging to PT Merdeka Tsingsan Indonesia, which is a subsidiary of PT Merdeka Battery Materials Tbk (MBMA) in Morowali."The Merdeka Group continuously optimizes mining and efficiency of production costs to increase margins," explained Tom.Meanwhile, development of the Pani Gold Project is said to be running smoothly with a production target at the end of 2025. So far, MDKA has invested more than USD 114 million since 2022. MDKA is targeting additional investment of USD 200 million for phase 1 production levels.Tom continued, the development of the Tujuh Bukit Copper Project, which is an underground mine under the Tujuh Bukit Gold Mine, is also running smoothly.The total investment that MDKA has disbursed has reached USD 185 million since the start of development in 2018."We are currently carrying out various studies and exploration to determine the mineral content and optimize the project value with a production target at the end of 2026," continued Tom.Throughout the first quarter of 2024, MDKA posted revenue of USD 541.05 million or grew 152.57% year on year (yoy) compared to the first quarter of 2023 which amounted to USD 214.21 million.Meanwhile, in terms of the bottom line, MDKA recorded a net loss of USD 15.22 million in the first quarter of 2024. Previously, in the first quarter of 2023 MDKA was able to record a net profit of USD 3.11 million.
09 Jul 2024, 14:10 PM

PTBA Awarded Gold Category at BISRA 2024

PT Bukit Asam Tbk (PTBA)
PT Bukit Asam Tbk (PTBA) received the Gold category award at the 2024 Bisnis Indonesia Social Responsibility Awards (BISRA) in Jakarta on Thursday, June 27, 2024.This award was granted in recognition of PTBA’s Eco Agrotomation Program, a social innovation that encourages environmentally friendly, automation-based plant cultivation to support reforestation and reclamation programs.Eco Agrotomation program was also designed to meet the local community’s vegetable and fruit needs, thereby supporting the concept of sustainable food in Muara Enim Regency."We are both proud and grateful for this award. Of course, this appreciation further motivates us to continue contributing to environmental conservation and community empowerment, especially around the operational area," said Niko Chandra, PT Bukit Asam Tbk (PTBA) Corporate Secretary.PTBA's Eco Agrotomation Program empowers farmers in Tanjung Karangan and Keban Agung to establish nurseries on unproductive land. PTBA works with farmers to provide planting media and seeds, as well as to cultivate plants. PTBA also provides regular training and assistance to the farmers.Plant cultivation is made simpler by the automation system. Farmers can now monitor and manage their crops more easily by accessing a monitoring dashboard that is linked to a smartphone. Standard measurements are used to automatically water and fertilize.The energy source for this automation system is based on renewable energy, Solar Power Plants, thus it reduces emissions from the plant cultivation process and also lowers daily operational costs.The plant seeds produced from this activity are not only used by PTBA for reclamation activities, but also by a number of other companies who have participated as buyers."PTBA always implements the principle of sustainability in our business activities. This commitment is an important aspect in Bukit Asam's efforts to provide continuous energy to the country, which aligns with our vision to become a world-class energy company that cares about the environment," said Niko.The 2024 BISRA Award is dedicated to companies in Indonesia who have made a significant contribution and commitment to improving the quality of human life and the environment through their Social & Environmental Responsibility (CSR) programs.The 2024 BISRA Award, themed "Paving the Way to Sustainable Business: Innovation in CSR", aims to provide education about effective, broad and sustainable CSR management.
09 Jul 2024, 14:06 PM

Bumi Resources Minerals (BRMS) Aims to Operate Third Gold Plant by September 2024

ILLUSTRATION, PT Bumi Resources Minerals Tbk (BRMS)
PT Bumi Resources Minerals Tbk (BRMS) is targeting its third gold factory in Palu to start operating in September this year. With the operation of the factory, BRMS is confident that they will achieve their production targets and improve their performance by the end of the year.Director & Chief Investor Relations Officer of PT Bumi Resources Minerals Tbk Herwin Hidayat stated that his party hopes that the third gold factory in Palu can also complete its construction period and start operating in September - October this year.Herwin revealed that the performance of gold mines in the first quarter of 2024, production from gold mines in Palu had reached 9,623 oz gold (299 kg gold). The company's target for the full year 2024 is to achieve production of 35,000 oz of gold."We are quite confident that this target can be achieved," he told Kontan, Friday (5/7).According to Herwin, looking at the company's performance in the first semester of 2024. Currently production figures in the first semester of 2024 are still being finalized, but the party is quite confident that there will be an increase in production in the second quarter of 2024 because the gold content processed is higher than the gold content processed in the first quarter of 2024. The production figure in the first quarter of 2024 is 9,623 oz of gold."We are quite confident that BRMS will achieve its production target in full year 2024 of 35,000 oz, supported by a second gold factory which has been operating at full capacity since the second quarter of this year," he concluded.
09 Jul 2024, 14:02 PM

MIND ID Officially Becomes the Largest Shareholder of PT Vale Indonesia Tbk

BUMN Holding the Mining Industry, PT Mineral Industri Indonesia (Persero) (MIND ID) announced the completion of the transaction of 14 percent of PT Vale Indonesia Tbk's divestment shares from Vale Canada Limited (VCL) and Sumitomo Metal Mining Co., Ltd. (SMM).On June 28 2024, MIND ID has completed the acquisition of new shares as an exercise of all Pre-emptive Rights (HMETD) obtained by MIND ID in Capital Increase by Providing PT Vale's HMETD I and the purchase by MIND ID of some of the old shares belonging to VCL , SMM, and Vale Japan Limited at PT Vale through the negotiation market on the Indonesian Stock Exchange.With this settlement, MIND ID officially becomes the largest shareholder in PT Vale with its share portion increasing from 20.0% to around 34.0%.Meanwhile, VCL ownership reduced from 44.4% to around 33.9%, and SMM ownership reduced from 15.0% to around 11.5%.This share divestment is part of the obligation to extend the operating permit for 10 years obtained by PT Vale through the issuance of a Special Mining Business Permit (IUPK) until 28 December 2035.PT Vale received the IUPK issuance on May 3 2024 as legal certainty for the company to continue operating in its concession area.MIND ID Corporate Secretary, Heri Yusuf appreciates the support from the Coordinating Ministry for Maritime Affairs and Investment, the Ministry of State-Owned Enterprises, the Ministry of Energy and Mineral Resources, the Ministry of Finance, the Ministry of Investment/Investment Coordinating Board, the Financial Services Authority, as well as Ministries and Institutions others in this divestment process.He emphasized that MIND ID will collaborate with VCL and other PT Vale stakeholders in developing PT Vale."We will optimize the downstream process for PT Vale's mining products so that it can support domestic industry as well as export needs to support the downstream program," said Heri.The acquisition of PT Vale shares is a strategic step for MIND ID so that Indonesia can take a stronger position in securing the supply of nickel-based downstream industry raw materials.Moreover, nickel is a strategic and important mineral resource for the world, where nickel has become the main raw material for batteries for electric vehicles and electricity storage infrastructure. "This corporate action is momentum in strengthening Indonesia's position in the battery and electric vehicle industry in the future," concluded Heri.
09 Jul 2024, 13:27 PM

Adaro Energy (ADRO) Aims for 50% Non-Coal Revenue by 2030

PT Adaro Energy Indonesia Tbk (ADRO) continues to develop non-coal business diversification to balance the company's revenue. The company, affiliated with Garibaldi 'Boy' Thohir, is targeting 50% of its total revenue to be contributed by non-coal businesses by 2030.Head of Corporate Communication at Adaro Energy Indonesia (ADRO), Febriati Nadira, said that in the transition to green energy, Adaro remains committed to meeting current energy needs while continuing to prepare for the transition to more sustainable operations."For this reason, we ensure that operational activities can run well by continuing to focus on operational excellence and cost efficiency, so that we can produce healthy margins and cash flow," said Febriati to Kontan, Thursday (4/7).According to Febriati, the prospects for the green energy business in the future are extraordinary, but of course investing in green business requires a lot of time and is a process."The hope is that in 2030, 50% of Adaro's total revenue will be generated by non-thermal coal businesses, in line with our commitment in the NZE statement that we published in 2023," said Febriati.Febriati added, this target will be achieved by increasing business in fields that support the green economic ecosystem in Indonesia, including through building aluminum smelters, expanding the metallurgical coal market, exploring opportunities in various green mineral products, and developing renewable energy businesses.If carried out successfully, continued Febriati, this will enable ADRO to accelerate the business transformation process through long-term environmentally friendly initiatives, one of which is through downstream mineral processing in line with the Indonesian government's plans.Since 2022, Adaro has started carrying out sustainable business development by transforming from 8 pillars to 3 business pillars; Adaro Energy, Adaro Minerals, and Adaro Green. The company has also started implementing non-coal business projects.In 2018, ADRO built a rooftop solar power plant (PLTS) with a capacity of 130 kWp in Kelanis, Central Kalimantan, to serve electricity needs in the Adaro mining area."After being successful in building and operating a 130 kWp rooftop PLTS, we are developing it by adding a capacity of 468 kWp PLTS with a floating system," said Febriati.Apart from that, Adaro also supports the government's downstream initiatives in the green industry by building an aluminum smelter in the largest Indonesian Green Industrial Zone in the world.To date, construction of the aluminum smelter and related infrastructure is progressing as expected and the company targets to complete phase I of 500,000 tons per year in 2025.Next, Pillar Adaro Green through PT Adaro Clean Energy Indonesia signed a memorandum of understanding on the development of renewable energy (EBT) as well as the supply chain of Solar Photovoltaic (PV) and Battery Energy Storage Systems (SPEB) in Indonesia with several PV and battery manufacturers (OEM/Original Equipment). Manufacturer).The Mentarang Main Hydroelectric Power Plant with a capacity of 1375 MW is planned to operate in 2030 and provide green energy for green industrial areas in North Kalimantan."The hydroelectric power plant construction that we are working on is progressing well," said Febriati.Finally, Adaro together with Total Eren, and PJBI, signed an electricity purchase and sale agreement for the Tanah Laut PLTB project with a capacity of 70 MW which is equipped with a 10 MW / 10 MWh battery energy storage system in Tanah Laut, South Kalimantan with PT PLN Persero (PLN) for the sake of supporting the Government's program in achieving the New Renewable Energy (EBT) source mix target in Indonesia. Estimated Commercial Operation Date (COD) of PLTB Tanah Laut in 2025.
09 Jul 2024, 13:22 PM

Aneka Tambang (ANTM) Boosts Gold Production in the Q2 of 2024

KONTAN/Cheppy A. Muchlis
PT Aneka Tambang Tbk (ANTM) or Antam believes that the prospects for the gold commodity business will continue to be promising in the future, so the company continues to optimize production from mines operated by the gold mining business unit in West Java to support the achievement of gold sales targets in 2024 it will be 37 tons.PT Aneka Tambang Tbk Corporate Secretary Syarif Faisal Alkadrie said, amidst the current gold price conditions and the safe haven nature of gold, Antam believes that the gold commodity will have a positive impact on the Company's precious metal gold sales performance."We see this as a significant opportunity to explore new markets and strengthen Antam's presence in existing markets," he said to Kontan, Friday (5/7).Antam will take advantage of this opportunity by continuing to develop innovative products that can meet broader consumer needs, including digital services for purchasing gold online.Faisal said that to meet community needs, Antam continues to strive to maintain quality and gold standards through strict quality control and compliance with international standards (LBMA). Antam is committed to providing quality products and services in all aspects by continuing to strive to maintain product availability in the Company's sales channels to meet customer needs.This year, said Faisal, Antam is also refocusing on the domestic market as a target market for precious metal products by expanding gold sales transaction services through various sales channels.
02 Jul 2024, 10:35 AM

PTBA Strengthens Efficiency to Maintain Positive Performance

ANTARA FOTO/Nova Wahyudi
PT Bukit Asam Tbk (PTBA) continues to strengthen efficiency in operations and production. This was done to maintain the positive performance of the member of the MIND ID Mining BUMN Holding.In the first quarter of 2024, the realized stripping ratio was maintained at 6.3x. For comparison, the stripping ratio in the same period in 2023 was 7.1x.The stripping ratio reflects the ratio between the volume of overburden and the volume of coal in the mined area.In addition to maintaining the stripping ratio, the company has also cut the hauling distance of soil and coal, one of which is the use of conveyors.The company continues to optimize the role of its subsidiary engaged in the mining services sector, PT Satria Bahana Sarana (SBS). During January-March 2024, the contribution of PT SBS reached 1.5 million tons or 21 percent of total production. This amount increased by 29 percent on an annual basis."These efficiency efforts create room for increased profitability, and make the company more agile in facing various challenges in the coal mining industry going forward," said PT Bukit Asam Tbk (PTBA) Corporate Secretary Niko Chandra through an official statement, Thursday (27/6).Niko added that the company also has an Eco Mechanized Mining Program, aka replacing mining equipment that uses fossil fuels to electricity.Some of the electricity-based tools that PTBA has used include 7 PC-3000 shovel-type electric excavators, 40 100-ton hybrid (diesel and electric) dump trucks, and 6 electricity-based mining pumps. From this eco mechanized mining program, the company can save the use of diesel fuel oil (BBM) and reduce emissions.Not only that, there is the E-Mining Reporting System program, which is a production reporting system in real time and online so as to minimize conventional monitoring that uses fuel.Thanks to these various efficiency efforts, PTBA's cash cost in the first quarter of 2024 decreased by 10 percent to IDR 867 thousand per ton. In the first quarter of 2023, cash costs reached IDR 965 thousand per ton."The company is focused on implementing sustainable mining practices, in accordance with the company's vision of a world-class energy company that cares about the environment. We are optimistic that we can maintain good performance and be in line with the target until the end of 2024," concluded Nico.



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