Asiamet Resources Ltd (AIM:ARS, OTC:KMGLF) has taken significant steps forward in the development of the BKM copper project by securing early partnerships with its preferred project execution partners.The appointments of PT Rexline Engineering Indonesia and Beijing Research Institute of Mining and Metallurgy (BGRIMM) are aimed at optimizing project integration and ensuring accuracy in cost estimation.Chief executive Darryn McClelland said the company's approach to project execution for BKM has "evolved" by taking into consideration the feedback from the independent technical expert (ITE) and the 2023 feasibility study.PT Rexline will work on the comprehensive engineering design of materials handling and non-process related infrastructure, providing cost estimation for all construction execution excluding scope related to project bulk earthworks and mine operations.BGRIMM has been engaged to deliver engineering for solvent extraction, electrowinning, water treatment (SX-EW), and reagent preparation process infrastructure, with the collaboration aiming to build on the past successful partnership in the feasibility study update.Optimization efforts for BKM include the proposed improvement of the heap leach facility location and detailed modeling of a new facility layout.McClelland said, "Effective project execution in the mining industry remains a priority focus, and it is essential that we advance the BKM project in a manner that optimizes management of risk for all stakeholders."Involving EPC partners early significantly reduces project execution risk and aligns with key requirements outlined in the ITE feedback during the debt financing process."He said that the news on the project earthworks contractor engagement will be provided in due course."The positive trajectory of copper prices and growing market optimism regarding copper's supply/demand dynamics underscore the strategic significance and inherent value of our assets."Our advanced projects and high-quality JORC-compliant copper resources at both projects are attracting significant inbound interest, and with the mobilization of execution partners, the BKM copper cathode project takes a further step towards financing and production."Shareholders should expect further updates as our efforts intensify." Image source: Asiamet ResourcesSource: https://www.proactiveinvestors.co.uk/companies/news/1044221/asiamet-resources-appoints-engineering-partners-for-bkm-1044221.html 

Medco Group's PT Amman Mineral Internasional Tbk (AMMN) is targeting to produce up to 1 million ounces of gold by 2024, doubling its production from 2023’s 463,000 ounces.President Director of Amman Mineral Internasional Alexander Ramlie said AMMN's production target is driven by fresh high-grade ore from phase 7 that will be mined and processed. In 2024, AMMN expects to produce 833,000 dry metric tons of concentrate."The concentrate is projected to contain 456 million pounds of copper and slightly more than 1 million ounces of gold," Alexander said on Wednesday (27/3/2024).In more detail, AMMN targets 1,009-kilo ounces of gold production and 456 million pounds of copper production throughout 2024. Meanwhile, the Adjusted C1 cost was recorded at USD 0.35 per pound.During 2023, AMMN produced 312 million pounds of copper, a 33% decrease from 2022 production of 464 million pounds. Sales decreased by 33%, down to 304 million pounds from 451 million pounds in the previous year.Meanwhile, AMMN's gold production reached 463 kilo ounces, a 37% decrease from 2022 production of 731 kilo ounces. The gold sales also decreased by 35%, to 455 kilo ounces from 703 kilo ounces in the previous year.Despite the decline in copper and gold sales, the selling prices rose by 6% and 12% respectively. Copper selling price reached USD 3.78 per pound, up from USD 3.56 per pound in 2022. Meanwhile, the selling price of gold reached USD 1,948 per ounce, up from USD 1,737 per ounce in the previous year.AMMN Financial PerformanceBased on the financial report as of December 2023, Amman Mineral Internasional posted a decline in sales to USD 2.03 billion, equivalent to IDR 31.27 trillion (estimated exchange rate of IDR 15,384.61 per US dollar). The achievement fell 28.15% compared to the same period of the previous year, USD 2.83 billion.  AMMN's sales in 2023 were mainly generated by its copper sales of USD 1.14 billion, equivalent to IDR 17.65 trillion, and gold sales of USD 885.45 million, equivalent to IDR 13.62 trillion. Each sale decreased from the realization in 2022 of USD 1.60 billion and USD 1.22 billion.AMMN's management explained that the net sales fell due to the extension of the export license delay from April 1 to July 23, 2023. After obtaining an export permit on July 24, 2023, AMMN accelerated concentrate shipments in Q3/2023 to catch up on lost sales.Alexander Ramlie said the company faced various challenges in 2023, such as bad weather, regulatory changes that negatively impacted the company, and increased compliance costs. Heavy rainfall forced AMMN to produce concentrate from ore stockpiles in the first seven months of 2023, which has a lower grade than fresh ore."The extreme weather had a significant negative impact on AMMN's net profit," he explained in a press release on Wednesday (27/3/2024).In Q4/2023, AMMN recorded its strongest performance of the year, with sales growth of 55% and EBITDA of 60% compared to the previous quarter. By the end of 2023, AMMN sold 312 million pounds of copper, down 33% from the previous year's 464 million tons. Juja gold sales fell to 455,000 troy ounces, a 37% correction from 731,000 troy ounces in 2022.Then, AMMN booked a cost of goods sold of USD 1.13 billion in 2023. The expense decreased compared to the previous year by USD 1.19 billion.  AMMN's net profit attributable to owners of the parent entity was recorded at USD 252.14 million or equivalent to IDR 3.87 trillion. AMMN's net profit fell 76.94% compared to the previous year of USD 1.09 billion.  AMMN's liabilities were recorded at USD 4.46 billion, an increase compared to the end of 2022 of USD 2.88 billion. The details of short-term liabilities were recorded at USD 774.12 million, and long-term liabilities were recorded at USD 3.68 billion.  Meanwhile, its equity stood at USD 4.63 billion, up from USD 3.60 billion at the end of 2022. AMMN's assets were recorded at USD 9.09 billion, drastically higher than 2022's USD 6.49 billion. Image source: Bisnis.com / AmmanmineralSource: https://market.bisnis.com/read/20240331/192/1753990/amman-ammn-targetkan-produksi-emas-1-juta-ons-pada-2024 

Archi Indonesia (ARCI) recorded a net profit of USD 14.56 million throughout 2023. The growth was only 0.06 percent from the previous year's position of USD 14.55 million. Hence, basic earnings per share remained stagnant at around USD 0.0006 from the same period the previous year of USD 0.0006.The revenue from contracts with customers was USD 249.63 million, increasing by 15% from the same position in the previous year at USD 216.47 million. The cost of goods sold was USD 179.86 million, slightly higher than the previous period of USD 156.94 million. The group earned a gross profit of USD 69.76 million, a slight increase from USD 59.53 million.Expenses of sales were at USD 1.09 million, from USD 901.93 thousand. For general and administrative expenses, the total was USD 9.51 million, slightly up from USD 8.69 million. Other operations income was USD 5.14 million, lower than the previous year's USD 11.58 million. As for expenses from other operations, it was USD 8.66 million, a decrease from the previous USD 13.99 million.The operating profit was USD 55.63 million, an improvement from USD 47.52 million. The financial income was USD 186.70 thousand, lower than the previous record of USD 220.82 thousand. The financial expenses were USD 31.27 million, higher than the previous year's USD 20.51 million. The company's share of profit of associates was USD 3.66 million, soaring from the previous year's USD 1.33 million. The profit before income tax expense was USD28.20 million, down from USD 28.57 million.Total income tax expense amounted to USD 13.44 million, decreased from USD 14.03 million. Current year earnings at USD 14.75 million and rose from USD 14.53 million. The total equity was USD 262.62 million, raised from USD 247.75 million. While the total liabilities were at USD 540.95 million, up from USD 470.06 million last year. The company's total assets were USD 803.58 million, a jump from USD 717.81 million.Image source: EmitenNews / Foto - IstimewaSource: https://www.emitennews.com/news/nyaris-stagnan-archi-arci-2023-bukukan-laba-usd1456-juta 

From 2023 to 2024, the investment in smelters in Indonesia is projected to amount to USD 11.6 billion (IDR 182.3 trillion) for 16 smelters' development.During a parliamentary hearing in Jakarta on Tuesday, the Acting Director General of Minerals and Coal at the Energy and Mineral Resources Ministry, Bambang Suswantono, said that out of the 16 planned smelters, seven will be for nickel, seven to bauxite, one to iron, and one to copper.Bambang Suswantono noted that the seven nickel smelters entail a USD 2.67 billion investment, with five already operational since 2023. State-owned mining company Antam's nickel smelter is nearing completion at 99 percent, while Ang And Fang Brother's smelter is still under construction.In addition, the seven bauxite sector smelters are valued at USD 5.85 billion, with USD 51.5 million invested in iron smelters. The highest investment, totaling USD 3.08 billion, is directed towards Freeport Indonesia's copper smelter, currently at 90 percent completion.Furthermore, Bambang Suswantono stressed the importance of efficient industrialization policies in the mineral industry. The ministry is implementing strategies to integrate the supply chain between mining and smelting, involve stakeholders in downstream policies, and foster the development of advanced industries.Image source: B-Universe Photo/Rifqi DanwanusSource: https://jakartaglobe.id/business/116-billion-invested-in-indonesias-smelters 

PT Multi Harapan Utama (MHU), a business unit of MMS Group Indonesia (MMSGI), has agreed on a coal sale and purchase cooperation with Shaanxi Shaanmei Supply Chain Management Co., Ltd. (SHAANMEI). The agreement was marked by a Memorandum of Understanding (MoU) signing at Shangri-La Hotel, Central Jakarta, represented by Saly Putra from MHU and Li Ce from SHAANMEI.The MoU signifies the commitment of both parties to establish coal buying and selling cooperation throughout 2024. MHU, a coal mining company operating in East Kalimantan, will supply 1.5 million metric tons (MT) to SHAANMEI, one of the largest coal importers in China."The Chinese market is one of the largest coal markets in the world, and this cooperation opens up great opportunities for MHU to increase export volumes and strengthen our position in the global market, in line with MHU's vision to become a progressive and leading coal producer in Indonesia," said MHU Marketing Division Head Saly Putra in a written statement, Thursday (3/21/2024).Saly Putra explained that MHU has achieved the company's sales targets in recent years. In 2022, MHU penetrated the Chinese market and became one of the top three coal exporters through the cooperation of the Indonesian Coal Mining Association (APBI) and the China Coal Transportation and Distribution Association (CCTDA) facilitated by the government."The MoU signing is a clear proof of MHU's trust and credibility in the international market, especially in China," he said.SHAANMEI President Director Li Ce welcomed this synergy. He believes MHU can be a reliable partner and is confident that this collaboration will provide significant benefits for both parties.The partnership not only signifies MHU's innovative strides in the global arena but also strengthens bilateral trade ties between Indonesia and China, with projected significant contributions to both countries' economies.MHU has set its positive vision to expand its export volume to China, which reflects its commitment to job creation to drive sustainable business improvement and growth in harmony with social welfare in Indonesia.Image source: ANTARA FOTO / NOVA WAHYUDISource: https://finance.detik.com/energi/d-7252950/perusahaan-ri-mau-pasok-1-5-juta-mt-batu-bara-ke-china 

PT Ifishdeco Tbk (IDX: IFSH) is seeking capital by inviting new investors for the acquisition or purchase of shares in companies similar to the company, such as nickel mining.IFSH will offer as many as 425 million new shares with a nominal value of IDR 100 per share, equivalent to 20 percent of the issued and paid-up capital.The new shares will be offered through a series of Capital Increases with Pre-emptive Rights (PMHMETD) or rights issues."The plan is expected to strengthen the capital structure in the context of business development by inviting potential new investors, both local and foreign, to participate in capital investment to provide added value to the company's performance," wrote the company's management.The corporate action will be held within twelve months after the approval of investors at the Extraordinary General Meeting of Shareholders (EGMS) on April 30, 2024.Image source: Pasardana.idSource: https://pasardana.id/news/2024/3/22/ifsh-cari-pemodal-baru-guna-caplok-tambang-nikel/ 

PT Harum Energy Tbk (HRUM) is focusing on the nickel business. For the record, through its subsidiary, PT Harum Nickel Industry (HNI), HRUM purchased shares owned by Prime Investment Capital Limited and Walsin Singapore Pte. Ltd. in PT Westrong Metal Industry (WMI) last January.Harum Nickel Industry purchased 1,214,000 shares, representing 60.7% of the issued and paid-up capital of Westrong Metal Industry. The value of this share purchase transaction reached USD 215.21 million.With the completion of this share purchase transaction, Harum Nickel Industry's share ownership in Westrong Metal Industry increased from the previous 20% to 80.7% of the issued and paid-up capital.Harum Energy President Director Ray Antonio Gunara said HRUM is still formulating a nickel production target in 2024. HRUM's second smelter will only start commercial operations this March.  "We currently have a consolidated annual installed production capacity of more than 80,000 tons of nickel," he told Kontan on Thursday (21/3).According to Ray, the government's focus on downstream policies is expected to continue to maintain positive sentiment, not only for HRUM's nickel business line but also for the Indonesian nickel industry in general."Given that the nickel sector and its derivative products have become one of the mainstays of Indonesia's exports," he said.Regarding fluctuations in nickel prices, Ray sees the upheaval as short-term.Launching Trading Economics on Friday (3/22), nickel prices rose 0.99% in the past month. However, nickel prices have corrected by 21.65% over the past year.According to Ray, this is due to an imbalance in demand and supply."However, in the long term, we are optimistic about the prospects for nickel prices, seeing the growth in nickel commodities that continues to increase," he said.MNC Sekuritas analyst Herditya Wicaksana said the HRUM stock movement is at the support level of IDR 1,280 per share and resistance of IDR 1,420 per share. Herditya recommended buying on weakness for HRUM with a target price of IDR 1,450 - IDR 1,520 per share.Kanaka Hita Solvera Equity Analyst William Wibowo sees that the movement of HRUM shares is at the support level of IDR 1,200 per share and resistance of IDR 1,510 per share.William also recommended buying on weakness for HRUM with a target price of IDR 1,510 per share.Image source: KONTAN / PT Harum Energy Energi Tbk (HRUM)Source: https://investasi.kontan.co.id/news/smelter-nikel-kedua-milik-hrum-akan-beroperasi-maret-ini-cek-rekomendasi-sahamnya 

PT Kaltim Prima Coal (KPC), as a subsidiary of PT Bumi Resources Tbk (BUMI), revealed that the company will open two new coal mining locations (pits) shortly.KPC Chief Operation Officer and Head of Mining Engineering, Hendro Ichwanto, said the company will open two new pits expected to start operating in the second semester of 2024. "There may be two additional pits this year," Hendro said when met at his office, Sangatta, East Kalimantan, quoted on Friday (3/22/2024).Furthermore, with the plan to add the two pits, the total pits operated by KPC will be 12 pits this year. "As of now, our total operating pits are 12 mines until the end of the year, twelve different pits," he explained.Later, the two pits, which will be in operation in the second quarter of 2024, will increase KCP's production capacity to one million tons of coal cumulatively annually.The location of the two newest KPC pits is in the Bengalon and South Pinang East areas. He also said that the operation of the two pits is targeted to be carried out in close proximity, to be precise, around August and September 2024."We are targeting in the second semester of this year between September and August, at most," he said.During the same occasion, Hendro also said that KPC's production, which has been approved in the company's RKAB or Work Plan and Budget for 2024, is 53.5 million tons and will apply flat or the same until 2026. "This year, we are at 53.5 million tons. (Per year until 2026) It will be the same, flat 53.5 million tons," he explained.In his explanation, the realization of coal production in 2023 was higher than the company's production plan in 2024. Hendro said that in 2023, the realization of KPC's coal production reached 54.2 million tons."Last year, we reached 54 million tons, while the RKAB was also 53.5 million tons. However, (the 2023 RKAB) was revised to 54 million tons," he concluded.Image source: CNBC Indonesia / Firda Dwi MuliawatiSource: https://www.cnbcindonesia.com/news/20240322091541-4-524355/genjot-produksi-kpc-bersiap-buka-2-lahan-tambang-baru-tahun-ini 

PT Vale Indonesia Tbk (INCO) is exploring potential investment in a high-pressure acid leach (HPAL) nickel smelter in Sulawesi. The estimated cost is IDR 30 trillion (around USD 1.91 billion), the Ministry of Investment said on Monday (18/3/2024).The "SOA HPAL" plant will be the company's third project to convert nickel ore into mixed hydroxide precipitate (MHP).The MHP material is used to make electric vehicle (EV) batteries, according to presentation materials shown by Indonesian Investment Minister Bahlil Lahadalia.A spokesperson for Vale Indonesia declined to comment, according to a Reuters report following the news.The ministry said the INCO-listed smelter could have an annual production capacity of 60,000 metric tons (MT) of nickel at MHP. Bahlil added that INCO is completing the final stages of exploration and will partner with a car manufacturer.INCO already has two HPAL plants under construction in Pomalaa and Sorowako, Sulawesi. Both projects are in partnership with Zhejiang Huayou Cobalt.Last month, state-owned mining holding company MIND ID, or Mineral Industry Indonesia, agreed to acquire a 14% stake in Vale Indonesia (INCO) from Vale Canada and Japan's Sumitomo Metal Mining to become a major shareholder.Image source: REUTERS / Ajeng Dinar UlfianaSource: https://investor.id/market/356826/penambang-nikel-vale-berencana-bangun-pabrik-hpal-rp-30-triliun 

PT Merdeka Copper Gold Tbk (MDKA) is removing the stigma that jobs in the mining sector can only be done by men. 120 women are empowered as haul truck operators at the Wetar Copper Mine Operation managed by PT BKP-BTR (a subsidiary of MDKA).As of February 2024, MDKA employs 796 female employees out of a total of 7,390 employees (approximately 11% of employees) spread across Jakarta and some of MDKA's mining operations in Indonesia. There has been a 2.5% increase in the number of female employees since March 2023 and some of them are at the managerial level."In other words, Wetar Copper Mine operates its haul trucks with 100% female employees. In addition, the Green Operator program at the Tujuh Bukit Banyuwangi Mine Operation, which is managed by PT Bumi Suksesindo (a subsidiary of MDKA), also conducts training and produces a majority of female employees as operators of heavy haul equipment at the Tujuh Bukit mine operation," said MDKA Director of Human Resources Titien Supeno in a written statement, Tuesday (12/3/2024).In terms of organizations, MDKA has also joined national and international organizations related to women, such as Women in Mining & Energy (WiME) and the Indonesia Business Coalition for Women Empowerment (IBCWE). Not just a member, MDKA also actively participates in activities organized by these organizations to strengthen the company's commitment to supporting inclusiveness in the work environment."In addition to the growing number of female workers, as a form of commitment to the principle of human rights, MDKA has also opened equal employment opportunities to our brothers and sisters who have disabilities to work with other employees within the MDKA Group," she said.For the record, MDKA also held a series of International Women's Day 2024 with the theme 'Inspire Inclusion' on March 7-8, 2024. This series of activities is a form of appreciation and pride for the contribution of female workers in MDKA. In the series of events, MDKA supported MSMEs owned by employees and colleagues with disabilities by holding a bazaar and a skills workshop by cooperating with the disabled community forum, namely Setara Berdaya and Precious One.In addition, MDKA also discussed with Komnas Perempuan RI. The theme of the discussion was 'Empowering Women and Promoting Inclusiveness for a Sustainable Economy.' The series of activities is a momentum for the future in increasing support for diversity in the work environment, inclusiveness, and improving facilities aimed at providing comfort for female workers in the company."Going forward, MDKA will continue to develop policies and facilities so that MDKA can be a safe and comfortable workplace for all employees, especially women and people with disabilities. We have facilitated employees with a comfortable lactation room, two days of menstrual leave, female operator positions on site, and a whistleblowing system, professionally managed by an independent consultant, Price Waterhouse Coopers (PWC), specifically designed in the event of violations in our workplace," Titien concluded.Image source: Detik.com / Doc. Merdeka Copper GoldSource: https://news.detik.com/berita/d-7237814/merdeka-copper-gold-berdayakan-120-perempuan-jadi-sopir-truk-tambang