Indonesia's march towards becoming a key player in the global electric vehicle (EV) ecosystem takes a significant leap forward with the commencement of mass production at T Hyundai LG Indonesia (HLI) Green Power's battery factory. Located in Karawang, West Java, this facility is poised to start operations in April, focusing on exporting the majority of its output to South Korean and Indian markets, especially. This venture promises substantial employment opportunities for the local workforce and places Indonesia on the EV map.Strategic Location and Production CapabilitiesThe HLI Green Power factory, boasting a production capacity of 10 gigawatt-hours, can produce up to 32.6 million battery cell units each year. These cells, each with a power capacity of up to 81 ampere-hours or 300 watt-hours, will be crafted using essential materials such as nickel, manganese, cobalt, and lithium. Indonesia's abundant nickel reserves play a crucial role in this equation, providing a strategic advantage in the competitive EV market.Empowering the Local EconomyOne of the factory's notable commitments is to local employment, with over 90 percent of its workforce comprising Indonesians, including positions for junior engineers. This initiative is expected to significantly reduce unemployment rates in the region, offering a beacon of hope for economic growth and stability. The focus on local talent underscores Indonesia's broader ambitions to nurture a skilled workforce that can propel the country forward in the high-tech industry sector.Global Impact and Future ProspectsAs Indonesia gears up to export the majority of its EV battery production, the move is set to redefine the country's position in the global supply chain. This strategic pivot caters to the growing demand for EVs worldwide and aligns with the global efforts to transition towards cleaner, more sustainable modes of transportation. The successful operation of the HLI Green Power factory could pave the way for further investments and advancements in Indonesia's EV infrastructure, potentially making it a hub for green technology in Southeast Asia.The launch of Indonesia's first EV battery factory marks a milestone in the country's industrial evolution. By embracing the global shift towards electric vehicles, Indonesia contributes to environmental sustainability and propels its economy into a future powered by green technology. This development promises to set a precedent for other nations to follow while highlighting the importance of innovation, sustainability, and local empowerment in the journey towards a cleaner planet. Image source: BNNSource: https://bnnbreaking.com/world/asia/indonesia-powers-up-first-ev-battery-factory-targets-global-exports-boosts-local-jobs 

The Ministry of Energy and Mineral Resources proposes that seven bauxite companies with stalled refinery projects may form a consortium to build a joint refining facility.The Special Staff of the Minister of Energy and Mineral Resources for the Acceleration of Mineral and Coal Governance, Irwandy Arif, explained that many companies have begun to develop bauxite refining facilities.Out of 12 refineries built, four refineries are already operating, and one refinery owned by PT Borneo Alumina Indonesia will be completed. Therefore, seven residential facilities have not yet made any progress."Seeing this condition, the idea emerged that the seven companies join together to make one refinery. However, in my opinion, the coordination between companies in Indonesia is quite difficult," he explained at the Mining for Journalist 2024 event in Jakarta on Thursday (29/2/2024).He admitted that until now, he has not received any feedback from the industry regarding the idea offered.As another option, Irwandy also proposed that State-Owned Enterprises (BUMN) create a new refinery. If there are no objections, the solution is expected to make bauxite mining work again.Previously, the government took firm action against the slow pace of refinery development with a ban on bauxite ore exports in June 2023.Yet, the policy is even more burdensome for mining businesses. They struggle to obtain funds to cover refining facility projects. Hence, bauxite refinery development has not made any significant progress.Director of Mineral and Coal Downstreaming at the Ministry of Investment/BKPM, Hasyim Daeng Barang, explained that the implementation of bauxite downstreaming had a few obstacles in several companies. The construction process was halted due to the COVID-19 pandemic, resulting in several investors withdrawing from the project."We try to facilitate the companies that have started their constructions to get (new) investors so that the factories can be built immediately. Apart from that, we also identify any obstacles the companies face," he said on the sidelines of the IMEC 2023 event in Jakarta on Tuesday (19/12/2023).Hasyim said, without elaborating, that there have been several bauxite smelters whose construction has reached 30% to 40% based on BKPM data. Hasyim said he has seen several interests from foreign investors to enter the bauxite smelter project."We try to help facilitate, and there are several interested investors. Although we can't enter the business-to-business process because it's a company issue, we are trying to do it. One thing for sure is that there are Chinese investors interested," he explained.However, the ongoing process is merely an assessment with the company that owns the project and concession. Later on, the agreement and business process will proceed in B2B.BKPM hopes that this process can run quickly because, by 2024, there will be a new bauxite smelter in operation. The reason is that many bauxite ores are currently lying idle and cannot be utilized."There are a few that may be able to operate in mid-2024 since the progress is already 50%. That's what we're after," he added.Image source: ANTARA FOTO / PanjiSource: https://industri.kontan.co.id/news/7-perusahaan-bauskit-diusulkan-bentuk-konsorsium-untuk-bangun-refinery 

SET-listed energy conglomerate Banpu is setting its sights overseas, aiming to significantly enhance its revenue streams through strategic acquisitions in the mining sector. With a keen focus on nickel, copper, and gold mining in Indonesia and Australia, Banpu is leveraging its existing operational footprint and expertise in these countries to diversify and strengthen its portfolio. Newly appointed CEO Sinon Vongkusolkit announced the ambitious expansion plan as he took the reins, promising a blend of technical prowess and strategic acquisitions to drive growth.Strategic Expansion and InvestmentBanpu's expansion strategy into the nickel, copper, and gold mining sectors is not just a diversification move but a calculated step towards securing its future in the rapidly evolving energy and minerals market. The decision is influenced by the current global demand for these minerals, especially nickel, which is crucial for electric vehicle (EV) battery production. With a capital spending budget of almost $700 million earmarked for 2024, Banpu is poised to explore and exploit growth opportunities across its operational spectrum, from gas exploration in the U.S. to energy technology advancements through its subsidiary, Banpu Next.Emphasizing Sustainability and Smart EnergyUnder Vongkusolkit's leadership, Banpu is not only expanding its mining interests but also reinforcing its commitment to a greener and smarter energy strategy. The plan includes partnering with battery and energy storage system companies, such as the collaboration with Svolt Energy Technology, to develop lithium-ion battery production facilities. This move aligns with the global shift towards cleaner energy sources and positions Banpu as a forward-thinking player in the energy sector, ready to meet the demands of the EV market and beyond.Future Outlook and ImplicationsThe strategic pivot to minerals critical for future technologies, which paired with sustained investments in clean energy, underscores Banpu's vision for growth and sustainability. As the company embarks on this ambitious journey, the implications for the global energy and mining landscapes are profound. Banpu's expansion could not only bolster its revenue and market positioning but also contribute to the broader transition towards sustainable and smart energy solutions worldwide.Image source: BNNSource: https://bnnbreaking.com/world/australia/banpu-targets-nickel-copper-gold-mining-expansion-in-indonesia-australia-for-revenue-boost 

Asiamet Resources Ltd (AIM:ARS, OTC:KMGLF) said it had ticked off more key milestones at its BKM copper development in Indonesia since the start of the year.Darryn McClelland, the chief executive, said that in project financing, bank financial modeling had been completed. The meeting key requirements are in the approvals process.“In our strategy for engineering, procurement, and construction workstreams, we have prioritized early engagement with project execution partners, a move aimed at enhancing project delivery efficiency," he added.“Details regarding the appointments of BKM's delivery partners will be made over the next few weeks and before the end of this quarter.“Additionally, we also anticipate completing the Biomass Power Station study by the end of quarter one of 2024.“As with any mining project, securing a power source is paramount, and the proposed renewable energy source of Biomass Power Station would also enhance the environmental sustainability of the BKM project."On the corporate development front, we are experiencing elevated levels of new interest in both our KSK and Beutong assets. Data room due diligence processes and site visits for multiple parties are currently being facilitated.McCelland reiterated that with copper a key part of electrification, "Our company's assets are cornerstones of strategic value, comprising advanced projects endowed with high-quality resources/reserves and a path forward to production.”Image source: proactive InvestorsSource: https://www.proactiveinvestors.co.uk/companies/news/1042173/asiamet-resources-ticks-off-more-milestones-at-bkm-1042173.html 

PT Amman Mineral Internasional Tbk (AMMN) shares shot up on February 29, 2024. AMMN shares closed at a new high of IDR 8,500, or an increase of 6.25%.A total of 106.59 million shares were traded, with a frequency of 7,598 times, and the transaction value of Amman Mineral shares was IDR 884.65 billion.As previously reported, PT Amman Mineral Industri, a subsidiary of PT Amman Mineral Internasional Tbk (AMMN), remains committed to completing the national strategic project of copper smelter facilities and precious metal refining (PMR).The results of the quarterly progress verification from the independent verifier for October 2023 to December 2023 stated that the progress of AMMAN's copper smelter construction has reached 76.1% of the construction plan of 72.4% (105.1%). Meanwhile, the progress of PMR construction has reached 72.7% of the construction plan of 72.1% (100.7%).AMMAN's Vice President of Corporate Communications and Investor Relations, Kartika Octaviana, stated that the company is confident that the physical construction progress of the smelter and PMR is going well to meet the construction completion target at the end of May 2024 and start the commissioning process in June 2024."This achievement is a manifestation of AMMAN's commitment as one of the largest copper and gold mining companies in Indonesia to always be involved in the development of the national mining industry that brings benefits to the regional and national economy," Kartika explained in an official statement dated February 5, 2024.Once in operation, the total input capacity of AMMAN's copper smelter and PMR facility is estimated to reach 900 thousand kilo tons per year (ktpa) of concentrate from the Batu Hijau mine and Elang project later. The products of this processing will be copper cathode reaching 222 ktpa and sulfuric acid reaching 830 ktpa.Meanwhile, the PMR facility will produce 18 tpa of gold bullion, 55 tpa of silver bullion, and 70 tpa of selenium.In September last year, AMMAN also signed a preliminary agreement with PT Pertamina (Persero) to ensure the supply of a more environmentally friendly energy source, liquified natural gas, for the gas and steam power plant currently under construction to support the operations of the copper smelter and PMR facilities.In addition, Amman Mineral Internasional (AMMN) management expects to return to stronger financial performance after a challenging H1/2023 and remains on track to deliver better H2/2023 performance and achieve FY2023 targets.Samuel Sekuritas analysts Juan Harahap and Haikal Putra Samsul, in their research last November 2023, predicted that AMMN will record a big jump in profit in 4Q23, driven by increased input of higher-grade ore from the Phase 7 project (higher grade from the company's deposit ore), which will boost copper and gold production.For the record, new ore contributed about 50% of AMMN's total mill production in 3Q23 (1H22: 100% from stockpiles)."Therefore, we expect AMMN to book 27.5% and 74.5% QoQ growth in copper and gold production volume in 4Q23. For reference, we provide more conservative numbers compared to the company's copper and gold guidance of 337 Mlbs and 502 Koz (our estimates: 292 Mlbs and 453 Koz)," Juan Harahap and Haikal Putra explained.In addition, there is a potential increase in copper prices. Juan Harahap and Haikal note that global copper production will increase due to rising production from the Qualleveco and Kamoa Kakula mines.However, they believe that supply growth in the long term will not be very significant as limited capital expenditure on exploration could potentially result in reduced reserves and lower ore grades."On the other hand, global copper demand will increase rapidly as renewable energy and electric vehicles become more popular (copper is an important material in the production of renewable energy and electric vehicle batteries). Hence, we expect global copper demand CAGR to exceed global copper supply (projected CAGR 2023F-2023F: 3.9% vs 2.2%)," he explained. Image source: Investor.id / prospektus perseroanSource: https://investor.id/market/355218/amman-mineral-ammn-sahamnya-cetak-rekor-ada-apa  

JAKARTA, Indonesia, February 26, 2024 – Trinitan Green Energy Metals (“TGEM” or the “Company”) is thrilled to announce a groundbreaking investment from PT Lima Pilar Resources (“LPR”) in TGEM’s subsidiary, PT Gostal Nickel Indonesia (“GO STAL”). This strategic investment, inaugurated at a signing event on February 23rd, 2024, underscores TGEM’s relentless pursuit of environmental excellence and technological breakthroughs, positioning the Company at the vanguard of the nickel industry’s sustainable transformation. This investment is a testament to TGEM and GO STAL’s robust strategic initiative to scale up sustainable Class 1 nickel production, focusing on Mixed Hydroxide Precipitate (“MHP”) manufacturing. It signals a shared vision between TGEM and LPR, highlighting their commitment to cater to the surging global demand for high-quality, sustainable nickel, pivotal for the Electric Vehicle (“EV”) market and associated green technologies. Central to TGEM’s operational ethos is its proprietary STAL (Step Temperature Acid Leach) Technology, a result of 15 years of dedicated research and development. This proprietary hydrometallurgical process sets new benchmarks for efficiency and sustainability in nickel processing, aligning with stringent Western market standards, particularly the US Inflation Reduction Act’s requirements.TGEM’s process technology and environmental initiatives are epitomized by the STAL One Ecopark project, aimed at drastically reducing the environmental footprint of Class 1 nickel production. Complementing this is TGEM’s Zero Waste Initiative, which embodies the Company’s commitment to a circular economy, enhancing resource efficiency and eliminating waste. PT Lima Pilar Resources, with its diversified investment portfolio, views this investment as a strategic move to bolster resource development and environmental conservation. LPR’s investment philosophy aligns with sustainable and innovative growth across various sectors, underpinning its commitment to the circular economy and responsible environmental stewardship. “Through this strategic investment from LPR, TGEM is set to redefine the global Class 1 nickel production landscape,” states Richard Tandiono, Executive Chairman of TGEM. “Our shared commitment to sustainability, innovation, and responsible resource development will not only advance our operations but also contribute significantly to the global shift towards green energy solutions.” Hanny Hendarso, Chief Executive Officer at LPR added, “Investing in TGEM’s GO STAL is more than a financial decision; it’s a testament to our belief in sustainable development and technological innovation as catalysts for change. Together, we are poised to make a significant, positive impact on the industry and the planet.” The investment from LPR not only cements TGEM’s leadership in sustainable Class 1 nickel production but also highlights the strategic investments essential for fostering innovation and sustainability within the industry. With LPR’s backing, GO STAL is primed for accelerated growth, further enhancing TGEM’s global footprint in the Class 1 nickel market. About Lima Pilar ResourcesLima Pilar Resources is an investment and operating (trading) company focused primarily on the energy sector, sustainable growth, and innovation. Committed to fostering positive environmental and social impact, LPR’s diversified portfolio spans various sectors, including energy, technology, and resource development. Guided by principles of sustainability, LPR actively supports initiatives that advance the circular economy and promote responsible practices. About Trinitan Green Energy MetalsTrinitan Green Energy Metals (TGEM) is a leader in sustainable Class 1 Nickel production in Indonesia, committed to environmental stewardship and technological innovation. Leveraging proprietary STAL Technology, TGEM is a pioneer in efficient and sustainable nickel processing, catering to the global demand for electric vehicles and advanced technologies. Dedicated to a zero waste and circular economy approach, TGEM sets new industry standards in metal processing, adhering to international environmental and quality regulations. For more information about Trinitan Green Energy Metals and its innovative solutions, visit: https://tgem.groupFor further information, please contact:Ian FayHead of Corporate DevelopmentEmail: ian.fay@trinitan.com SOURCE Trinitan Green Energy Metals

Global cobalt production is expected to rise for the fourth time in a row to 231.5 kilotonnes (kt) in 2024, an increase of 6.5% over 2022. Increased supply from the DRC and Indonesia will primarily support the growth in 2024.Meanwhile, growing interest in cobalt, combined with government and private sector investment to meet rising demand, increased the number of countries producing cobalt from seven in 2000 to 16 in 2023.The DRC accounted for 68.6% of global cobalt output in 2023. Although the DRC will continue to dominate the world’s cobalt supply in the coming years, its share will gradually decline to 56.5% by 2030. In contrast, Indonesia’s share is expected to rise from 8.3% in 2023 to 20.8% by 2030. Production growth in the DRC will be supported by the restart of the Kinsanfu or KFM mine in the second quarter of 2023.Meanwhile, Indonesia, which became the second-largest cobalt producer in the world in 2022, surpassing established producers including Russia, Australia, Canada, Cuba, the Philippines, Papua New Guinea, and Madagascar, is expected to produce 14.1kt in 2023, up by 40.7% over 2022. Projects started in 2021 and 2022 have ramped up to support production in 2023. For example, PT Halmahera Persada Lygend (PT Lygend) continued to expand in 2022, with Phase II also beginning.Looking ahead, during the forecast period, global cobalt production is expected to increase at a CAGR of 5.1% to reach 311.8kt by 2030. Output from Indonesia will be a major contributor to this growth, with the commencement of several projects, including the Weda Bay Expansion Project (Sonic Bay), Sorowako, and Pomalaa.Image source: GlobaldataSource: https://www.mining-technology.com/analyst-comment/output-from-drc-indonesia-global-cobalt-supply/ 

Chery in Indonesia still uses lithium ferroposphate (LFP) batteries for the Chery Omoda E5 line-up. The Coordinating Minister for Economic Affairs, Airlangga Hartarto, has specifically encouraged this manufacturer to use nickel-based batteries, which are abundant in Indonesia.PT Chery Sales Indonesia (CSI) Assistant Vice President Zeng Shuo has considered using nickel batteries as raw materials for Chery batteries. However, the line-up that has been released at this time still uses LFP batteries."For the Omoda E5, we are using LFP, but in the long run, we plan to change the battery to a nickel-based battery. It's to support the local economy and to meet our commitment to the government to achieve a 60% localization rate," Zeng Shuo said in an interview with CNBC Indonesia, quoted Monday (19/2/2024).However, it will take time for manufacturers to switch to nickel batteries because car manufacturing requires lengthy technological research. Therefore, there are no plans to change the raw materials of cars that have already been released, such as the Omoda E5, to use nickel. For manufacturers, it is more realistic to use the battery in the next line-up."I suppose maybe for the next product, perhaps the new model will be nickel-based. Well, there are a lot of batteries being produced here in the future. We have started to develop more power battery factories here. So, in the new model, we can collaborate. Will it be next year? Or this year? It might be next year, but I can't give an accurate timeline," he said.Moreover, manufacturers must increase the level of domestic consumption (TKDN) from time to time. The minimum TKDN this year is still 40%, but by 2027-2029 it must increase to 60%. Therefore, manufacturers must find ways to raise their TKDN, one of which is localizing their resources.The TKDN regulation is contained in Government Regulation Number 79 of 2023 on Amendments to Presidential Regulation Number 55 of 2019 concerning the Acceleration of the Battery-Based Electric Motor Vehicle Program for Road Transportation."However, one important thing is I am sure in 2026, we will have used local batteries. By then, as per the government’s rules, the localization of electric cars must reach 60%. So we are trying our best to fulfill it," he said."We are working with CATL, for example. They already have plans to invest and build a factory to produce nickel-based electric batteries in Indonesia. We are already partners in China. So, for Chery Electric Cars, we have many different suppliers. Some of the main suppliers are Goshen. One is CATL and some others," he concluded.Image source: CNBC Indonesia / Tri SusiloSource: https://www.cnbcindonesia.com/news/20240219115224-4-515598/mobil-listrik-china-ini-janji-pakai-baterai-nikel-ri-mulai-kapan 

PT Pupuk Indonesia Niaga, a PT Pupuk Indonesia (Persero) subsidiary, is developing its business in nickel commodities to meet domestic needs.PI Niaga Commercial & Operations Director Trudo HDM Nainggolan said, as the initial step, PI Niaga conducted a joint operation with a national private company and successfully sold 34,000 MT of nickel to be sent to a nickel smelter in Morosi, Southeast Sulawesi.He explained that business development in the nickel commodity is part of PI Niaga's business in the field of non-fertilizer trading. The demand for nickel commodities could be expected to continue to increase.According to Trudo, this is following the government programs that continue to encourage the use of electric cars, where nickel is one of the main raw materials for electric vehicle batteries."The shipment was carried out in three shipments where two shipments of 24,000 MT were completed at the end of 2023, and one shipment of 10,000 MT was completed in early 2024," Trudo said in his official statement on Friday (23/2).According to Trudo, PI Niaga strives to increase this nickel business so it can contribute to increasing revenue and achieving the company's target in 2024.“Moreover, it supports the government's efforts in the green energy program through raw materials for electric vehicles,” Trudo concluded.As a matter of information, nickel is a metal usually used as the cathode part of batteries. Nickel plays an important role in making batteries for electric vehicles because it is the main raw material.For lithium-ion batteries, the most common type of battery used in electric vehicles, nickels are combined with cobalt and manganese. Apart from being rust-resistant, this composition is excellent in density and cheaper than other raw materials.The use of nickel in the future is believed to increase significantly along with the growth of electric vehicles in Indonesia.Image source: REUTERS / Yusuf AhmadSource: https://industri.kontan.co.id/news/anak-perusahaan-pupuk-indonesia-kirim-34000-mt-nikel-ke-smelter-di-morosi-sulteng 

The government ensures efforts to boost the downstream of nickel into electric vehicle batteries will continue to be carried out.The commitment was conveyed amid the fierce competition of Lithium Ferro Phosphate (LFP) and NMC-based battery technology, which is a combination of Nickel, Manganese, and Cobalt.The Minister of Energy and Mineral Resources (ESDM), Arifin Tasrif, explained that the several automotive manufacturers that adopted LFP battery technology for electric cars are quite dominant."We indeed have a problem. The downstream lithium (NMC) batteries have not moved. That's what needs to be developed," said Arifin at the Directorate General of Oil and Gas Office of the Ministry of ESDM on Friday (16/2).Arifin explained the potential of the nickel industry in Indonesia in the future is still very potential. Nickel-based batteries will still be needed, with a two-wheeled vehicle population reaching 120 million units and four-wheeled as many as 24 million units.In addition, each type of electric battery is considered to have its own market."What we need to pay attention to is quality, and on the other hand, we need to encourage the industrialization of our mineral natural resources to be able to produce electric batteries," added Arifin.  Previously,  Special Staff of the Minister of ESDM for Acceleration of ESDM Sector Industry Development, Agus Tjahjana, revealed that these two types of batteries each have their market."(There is a market) for low-end and high-end. Both are profitable. High-end is expensive. Why use LFP, which has a short range and then heavy," explained Agus at the Ministry of ESDM on Friday (28/1).Agus revealed low-end electric vehicles will use LFP batteries. Meanwhile, the high-end electric vehicle market will use NMC. His example is Hyundai's electric vehicle type Ioniq has been confirmed to use NMC batteries.Meanwhile, the density or energy capacity of these two types of batteries is generally different.  The density level of LFP is considered lower. Then, if LFP technology wants to increase its capacity, its volume will also increase. This method is considered not suitable to be applied to high-end vehicles."Imagine you use an expensive car (but) it's heavy with batteries, it's not suitable," Agus explained.Agus explained that for expensive or high-end electric vehicles, it is better to use expensive battery technology like NMC because it can save space and is lighter.Meanwhile, cheap or low-end vehicles and transportation fleets such as trucks or buses can use LFP technology.In terms of usage age, LFP is considered superior to NMC. One of the factors is the level of absorption or consumption of LFP energy is lower.Although in terms of price, NMC technology is still more expensive, the trend of price decline is considered to continue to occur.Agus also emphasized that an international-scale factory with a fairly large investment is needed to build a battery factory."The battery factory can't just be on a national scale, whether it's LFP or NMC, it has to be international scale. If we limit it to use NMC because we have NMC, people will run away," said Agus.Image source: KONTAN / Cheppy A MuchlisSource: https://english.kontan.co.id/news/indonesia-promotes-nmc-batteries-amid-lfp-domination-in-electric-vehicles