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10 Aug 2022, 11:04 AM

Hyundai Interest in Adaro Aluminum Project

www.cnbcindonesia.com
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PT Adaro Minerals Indonesia Tbk (ADMR) through its subsidiary, PT Adaro Aluminum Indonesia, will work on an aluminum smelter project in North Kalimantan. This plan seems to attract foreign investors. South Korean automotive giant, Hyundai, is reportedly interested in investing in the project, which is estimated to require an investment of around Rp 10.4 trillion. The Hyundai Consortium is even said to have met several times with representatives of the Adaro Group.The meeting was to discuss details related to aluminum investment opportunities used for electric car components in Indonesia. From the discussion process, Hyundai showed interest in investing with the Adaro Group. Adaro's Head of Corporate Communication , Febriati Nadira, was not ready to confirm this news. However, he did not deny that Adaro Minerals has indeed opened the door for foreign investors who already have a track record, experience, and the latest technology in the aluminum industry."Currently we are in a more detailed planning process to develop an aluminum smelter, among others, by cooperating with partners from abroad who already have a track record, experience, latest technology and thorough knowledge in the aluminum industry," he told CNBC Indonesia, Wednesday. (10/8/2022). He hopes to be able to immediately realize the investment and start construction by the end of this year. The construction process is expected to take 2 years. "Our hope is that we can immediately realize the investment and start construction by the end of this year, the construction process is estimated to take 24 months," he concluded.Source: https://www.cnbcindonesia.com/market/20220810122826-17-362619/kode-keras-adaro-soal-minat-hyundai-di-proyek-aluminium
News
10 Aug 2022, 08:56 AM

Indo Tambangraya ITMG Net Profit Soars 291 Percent in Semester I/2022

www.market.bisnis.com
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The listed coal mining company, PT Indo Tambangraya Megah Tbk. (ITMG) posted an increase in performance during the first semester of 2022. ITMG's net profit shot up 291.77 percent YoY in the first semester of 2022 to US$460.82 million or equivalent to Rp6.85 trillion (Jisdor exchange rate on June 30, 2022 Rp14,882 per US dollar). In semester I/2021, ITMG only pocketed a net profit of US$117.62 million. The large increase in ITMG's net profit can not be separated from the increase in the company's net income during January-June 2022. In this period, ITMG's net income reached US$1.42 billion or around Rp.21.15 trillion, 110.19 percent higher than the net income of the first semester. 2021 amounting to US$676.30 million.Meanwhile, sales of coal to related parties during this period was recorded at US$41.66 million. The increase in the company's revenue also helped to raise the cost of revenue to US$672.38 million during the first semester of 2022, up 49.76 percent from US$448.95 million in the first semester of 2021. The increase in expenses was mainly due to an increase in royalties/exploitation fees by 134.42 percent to US$185.93 million, from US$79.31 million in the same period in the previous year. The cost of purchasing coal also increased by 190.17 percent on an annual basis, from US$48.10 million in semester I/2021 to US$139.59 million in semester I/2022. ITMG recorded an increase in total assets of US$307.52 million to US$1.97 billion on June 30, 2022, from US$1.66 billion at the end of 2021. In addition to assets, the company's total liabilities at the end of June 2022 also increased by US$27.15 million to US$491.83 million, from US$464.68 million at the end of December 2021.Previously, Director of Corporate Communications & Investor Relations of Indo Tambangraya Megah Yulius Gozali stated that ITMG targets a coal production volume of 17.5 million tons to 18.8 million tons and sales volume of 20.5 million to 21.5 million tons. "Currently, the company still maintains the same production target for 2022," said Yulius. Throughout 2021, ITMG produced 18.2 million tons of coal with a sales volume of 20.1 million tons. Meanwhile, net sales in 2021 were recorded at US$2.1 billion and gross profit margin rose from 17 percent last year to 44 percent.Source: https://market.bisnis.com/read/20220810/192/1565413/laba-bersih-indo-tambangraya-itmg-melesat-291-persen-pada-semester-i2022
News
08 Aug 2022, 13:45 PM

Indonesia says Tesla strikes $5 billion deal to buy nickel products

www.mining.com
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US carmaker Tesla has signed contracts worth about $5 billion to buy materials for their batteries from nickel processing companies in Indonesia, a senior cabinet minister told CNBC Indonesia.Southeast Asia’s biggest economy has been trying to get Tesla to set up a production facility in the country, which has major nickel reserves. President Joko Widodo met with Tesla founder Elon Musk earlier this year to drum up investment “We are still in constant negotiation with Tesla … but they have started buying two excellent products from Indonesia,” Coordinating Minister for Maritime and Investment Affairs Luhut Pandjaitan said in an interview broadcast on Monday.He said Tesla signed a five-year contract with nickel processing companies operating out of Morowali in Sulawesi island. The nickel materials will be used in Tesla’s lithium batteries.Tesla did not immediately respond to a Reuters email seeking comment. Indonesia is keen to develop electric vehicles and batteries industries at home and had stopped exports of nickel ore to ensure supply for investors. The move had successfully attracted investments from Chinese steel giants and South Korean companies like LG and Hyundai.However, most nickel investment so far have gone to production of crude metal such as nickel pig iron and ferronickel. The government plans to impose export tax on these metals to boost revenue while encouraging more domestic production of higher-value products, a senior official told Reuters last week.(By Fransiska Nangoy; Editing by Kanupriya Kapoor)Source: https://www.mining.com/web/indonesia-says-tesla-strikes-5bn-deal-to-buy-nickel-products-media/
News
02 Aug 2022, 09:42 AM

Archi Indonesia (ARCI) Confident Performance Improvements by the End of the Year

www.industri.kontan.co.id
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The performance of PT Archi Indonesia Tbk (ARCI) experienced a decline in the first semester of 2022. This gold producer posted a decrease in revenue and net profit throughout the period. ARCI posted net profit for the period attributable to the parent company of US$ 14.15 million. This figure decreased 56.56% from net profit in the same period last year of US$ 32.57 millionThus, ARCI's basic earnings per share decreased to US$ 0.0006 from the previous US$ 0.0016 per share The decline in ARCI's net profit was in line with the decline in its revenue. ARCI posted revenue from contracts with customers worth US$ 119.63 million, a decrease of 15.96% from revenue in the first half of 2021 which reached US$ 142.35 million.ARCI Corporate Secretary Harry Margatan Sopandi said that the decline in ARCI's performance in the first six months of 2022 had something to do with the natural disaster that hit ARCI's pit . Currently, management estimates that ARCI's gold production will decrease from the previous year by around 25%, which was caused by a natural disaster that hit one of the pits . However, ARCI believes that the current remediation process will be able to increase ARCI's productivity and financial performance in the fourth quarter of 2022.The pit wall or working wall of the Araren pit mine, which was damaged due to high rainfall in early January 2022, has entered the remediation process. ARCI targets this pit to resume production in the fourth quarter of 2022.Archi Indonesia President Director Rudy Suhendra said the remediation or recovery process had gone very well and according to plan. "We believe that the optimal return of pit operations will have an impact on ARCI's gold production in the fourth quarter of 2022 and the following year," said Rudy, Monday (1/8). Rudy added that ARCI has optimized mining activities in the other three pits , so that operational performance can be maintained. Until the first semester of 2022, ARCI has achieved its gold production target of 58.3 kilo ounces.Looking ahead, Harry saw that the prospect of gold was still quite gleaming. He considered gold is a safe haven asset ."So Archi hopes that gold will always be the choice of investors in uncertain situations . Global economic conditions could affect the movement of gold this year," said Harry to Kontan.co.id, Monday (1/8).Source: https://industri.kontan.co.id/news/archi-indonesia-arci-yakin-bisa-catatkan-perbaikan-kinerja-hingga-akhir-tahun-nanti
News
01 Aug 2022, 18:27 PM

Establishing a copper smelter, MDKA to grant a facility of USD 50 million

www.idnfinancials.com
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PT Merdeka Copper Gold Tbk (MDKA), a mining company under PT Saratoga Investama Sedaya Tbk (SRTG), has signed a financing facility agreement in order to support the copper smelting plant managed by one of its subsidiaries.Said facility agreement was signed along with PT Merdeka Tsingshan Indonesia (MTI), the subsidiary in question, which is indirectly owned by MDKA through PT Batutua Pelita Investama (BPI). Until May 10, 2022, BPI is listed as the owner of 80% of MTI.The financing facility provided by MDKA for MTI amounts to USD 50 million. Both companies also agree to set the interest rate of this facility to LIBOR+5% per year. Then, the agreement will last for five years.As mentioned in the information disclosure in Indonesia Stock Exchange (IDX), the credit facility given by MDKA will be utilised to fund MTI’s copper smelting facility project. It includes all processes, such as design, procurement, construction, and expansion. “It is to manufacture coppers that are ready for export,” the management stated.For the record, this financing facility is categorised as an affiliate transaction as regulated by the Financial Services Authority (OJK). On top of being the shareholder of MTI, some of MDKA’s directors also take office as director and commissioners of MTI.Source: https://www.idnfinancials.com/news/43858/establishing-copper-smelter-mdka-grant-facility
News
01 Aug 2022, 15:13 PM

Harita Nickel Commitment to Increase Added Value Through Downstream

www.tambang.co.id
50 Views
Mining and downstream company, Harita Nickel is committed to increasing added value through downstream nickel starting from high grade and low grade. This was revealed by the Director of Harita Group, Tonny H Gultom during the Indonesia Nickel Summit held by TAMBANG Magazine in Nusa Dua, Bali some time ago.According to him, the processing of high grade nickel using Rotary Kiln Electric Furnace (RKEF) pyromatalurgical technology is under its two subsidiaries, namely PT Megah Surya Pertiwi and PT Halmahera Jaya Ferronickel (HJF).In addition, the company, which is located in South Halmahera Regency, has also developed a low grade nickel refining system using Hydrometallurgical High Pressure Acid Leaching (HPAL) technology. The factory is under the control of PT Halmahera Persada Lygend (HPAL), which is also a subsidiary of Harita.“This technology is a pioneer industry in Obi Island, North Maluku that utilizes low grade nickel as raw material (limonite). Before HPAL, low grade nickel was not utilized, only treated as overburden,” said Tonny. In the process, HPAL uses seawater and has low energy that is environmentally friendly. The extraction process involves leaching of limonite ore with sulfuric acid.According to Tonny, the product from HPAL will be nickel sulfate which is predicted to reach 247,000 tons per year and cobalt sulfate to reach 32,000 tons per year. In addition, there are also intermediate products, namely Mixed Hydroxide Percipitate (MHP), a mixture of nickel and cobalt as raw material for electric vehicle batteries."The result of HPAL is Mixed Hydroxide Percipitate (MHP), the raw material for electric batteries," added the man who is familiarly called Gultom.He went on to say that nickel is still primarily used as an ingredient in stainless steel whose market share is predicted to drop to 47% by 2050. This is because battery precursors for electric vehicles and energy storage are becoming increasingly important."In the future, the use of nickel is for electric batteries. Solar PV and electric vehicles will be massively developed, targeted to support the supply of 2 million four-wheeled vehicles and 13 million two-wheelers," he said.Source:https://www.tambang.co.id/harita-nickel-komitmen-tingkatkan-nilai-tambah-melalui-hilirisasi
News
01 Aug 2022, 14:14 PM

Commitment to Implement ESG and Good Mining Practices, Adaro Indonesia Receives Platinum Award from ...

www.investor.id
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PT Adaro Energy Tbk (ADRO), through its subsidiary PT Adaro Indonesia Tambang Balangan, South Kalimantan, has won an award with Platinum predicate from the Energy and Mining Editor Society (E2S). The Kalulut Palace social and environmental responsibility program was the best in the “Sustainability Program” category at the E2S Proving League 2022.Febriati Nadira, Head of Corporate Communication at Adaro Energy, said that the Kalulut Palace Program is Adaro Indonesia's flagship CSR program. This community empowerment program, which is primarily based on environmental sustainability, has proven to be able to have a positive impact on the environment, economy and society.  According to Nadira, Adaro Indonesia, as one of the largest coal mining companies in Indonesia, always applies ESG (environment, social, governance) and good mining practices (good and correct mining practices). The environment and community have always been an important part of mine planning. One of the references is the Minister of Environment and Forestry Regulation No. 1 of 2021 concerning the Company Performance Rating Program in Environmental Management or commonly called Proper. To date, Adaro Indonesia has managed to get Gold Proper 4 times, namely in 2012, 2019, 2020 and 2021, among others through our flagship CSR program, the Kalulut Palace Program.“We are proud of the award given by the E2S Forum in the form of a Platinum Rank Award in the Sustainability Program Category in the Proving League event. This award will further spur Adaro to continue to present various sustainability programs, while continuing to carry out its role as a provider of energy sources for development," said Nadira, Sunday (31/7/2022).Kalulut Palace is a Kalulut honey cultivation group with Garang Tama or Itama Honeycomb Reproduction. Garang Tama has changed people's behavior from resource extraction by illegal logging to cultivation. "The foster partner or local hero of Istana Kalulut is Mr. Maskuni," said Firmansyah, CSR Section Head of Adaro Indonesia. Maskuni and Firmansyah appeared on behalf of Adaro Indonesia at a presentation at the E2S Proving League which involved three judges, namely Risna Resnawaty (CSR expert and Head of the Social Welfare Study Program FISIP Universitas Padjadjaran, energy observer and Executive Director of the ReforMiner Institute Komaidi Notonegoro, and Deputy Leader World Editor of Energy Lili Hermawan).According to Firmansyah, the "Istana Kalulut" program is the implementation of PT Adaro Indonesia's CSR program which began in 2018. In the Kalulut Palace program, Adaro Indonesia seeks to change the mindset and behavior of the community, which initially harvested honey by hunting and felling trees, turning it into harvesting. with cultivation. The output of this program is an increase in the number of Kalulut bee farmers, a decrease in the number of trees cut in the PT Adaro Indonesia reclamation area, and the community utilizing Kalulut bee cultivation as their livelihood. In addition, the Kalulut Palace is a center for Kalulut cultivation education."Through the Kalulut Palace Program, we are trying to encourage the community to cultivate and social innovation in the form of ways to develop Kalulut honey that can be carried out post-mining so that the duplication results can benefit the community," he said.  The Kalulut Palace Program is one of the programs that Adaro Indonesia continues to foster in relation to disaster sensitivity for the empowerment of small and medium enterprises (SMEs) in the company's operational areas. This was done with a focus on Kalulut honey products which can be used as supplements to support the prevention and control of Covid-19.Risna Resnawaty, Chair of the E2S Proving League 2022 Jury, said that the CSR programs included in the 2022 Proving League are very special and have a tremendous impact on the community around the company's operational locations. "Each program has its own advantages, uniqueness, and characteristics based on the needs and solutions to problems that arise in the community," he said.Adaro is one of 22 participants and gold candidates for PROPER 2020-2021 in the Energy and Mineral Resources (ESDM) sector participating in the 2022 E2S Proving League entitled "CSR Collaboration: Building Community Resilience and Local Livelihoods Generation" which was held on Saturday-Sunday , 23-24 July 2022.Source: https://investor.id/business/301465/komitmen-terapkan-esg-dan-good-mining-practises-adaro-indonesia-raih-penghargaan-platinum-dari-e2s
News
31 Jul 2022, 11:37 AM

Golden Energy Mines (GEMS) Increases Production in Second Quarter 2022

www.industri.kontan.co.id
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PT Golden Energy Mines Tbk (GEMS) recorded an increase in production and sales performance in the second quarter of 2022. GEMS Corporate Secretary Sudin Sudiman revealed that the increase in production performance occurred for the second quarter of 2022 compared to the first quarter of 2021"(Realization) 9.7 million metric tons for production and 9.6 million metric tons for sales," said Sub-Department to Kontan.co.id, Sunday (31/7).Sudin continued, this achievement was better than the first quarter of 2022. In the first three months, production and sales were respectively 7.9 million metric tons and 8.5 million metric tons.Thus, in total, until the first half of 2022, GEMS posted production of 17.6 million metric tons and sales of 18.1 million metric tons. "This is in accordance with our capabilities and production targets. Compared to the first quarter of 2022, the weather is (more) supportive in the second quarter of 2022," added Sudin.Kontan noted, GEMS is eyeing a higher coal production figure than last year. Until the end of 2022, GEMS is aiming for a consolidated production figure of around 40 million tons of coal. Around 36 million tons of which is planned to come from BIB's coal production. As a comparison, citing the company's annual report, GEMS' coal production volume throughout 2021 reached 29.11 million tons, while the realized sales volume reached 29.49 million tons. GEMS's largest market share includes Indonesia, China, and India with volumes of 12.06 million tons, 11.89 million tons, and 3.99 million tons, respectively. The prepared capital expenditure budget is around US$ 22 million.Referring to the company's financial statements, GEMS posted revenues of US$ 539.12 million in the first quarter of 2022. This achievement increased significantly to 41.41% year on year (yoy). In the same period in the previous year, GEMS' revenue was recorded at US$ 381.24 million. Meanwhile, an increase in performance also occurred for net profit where GEMS scored US$ 133.44 million in the first quarter of 2022. This achievement increased by 35.2% yoy where in the first quarter of 2021 GEMS' net profit reached US$ 98.69 million.Change of Commissioners and DirectorsGEMS management approved the change in the composition of the company's commissioners and directors in the agenda of the Extraordinary General Meeting of Shareholders (EGMS) on Friday (29/7).GEMS appointed Venkataramani Ranganathan as Vice President Director replacing Megha Shyam Kada. In addition, Alex Sutanto was appointed as Commissioner of the Company replacing Fuganto Widjaja.Thus, the composition of the GEMS commissioners is as follows:President Commissioner: Lokita PrasetyaVice President Commissioner: Avinash Ramakant ShahCommissioner: Alex SutantoIndependent Commissioner: Ketut SanjayaIndependent Commissioner: Bambang SetiawanIndependent Commissioner: Madhu Ramachandra RaoComposition of the board of directors:President Director: BonifaceVice President Director: Venkataramani Ranganathan Director: Kumar KrishnanDirector: R. UtoroDirector: SuhendraDirector: Leonard Fedrik SundartoSource: https://industri.kontan.co.id/news/golden-energy-mines-gems-meningkatkan-produksi-di-kuartal-kedua-2022
News
31 Jul 2022, 08:56 AM

UD Trucks Records Increase in Sales of Mining Specialty Trucks

www.industri.kontan.co.id
23 Views
The increasing volume of coal transportation has a positive impact on sales of heavy equipment trucks specifically for mining. This was also felt by UD Trucks, which recorded an increase in sales since the price of coal and other minerals increased. "With the increase in coal sales, our unit sales also increased," said Christine Arifin, Marketing and Business Development Head of PT UD Astra Motor Indonesia to Kontan.co.id, Sunday (31/7).Christine explained specifically for mining activities, units with 11L engines are in great demand, especially for large mines. Currently, orders for 11L UD Trucks units are claimed to be around 80-90 units/month. This number increased, because previously sales were only about 30 units/month, since the price of coal and other minerals increased.The UD Trucks special heavy equipment truck variant is sold in Indonesia under the name Quester. On the engine equipped with 11L, the models used for mining activities are CWE370 and CGE370 with 370HP and GWE410 (latest) with 410HP.Christine said that demand came from many mining areas in Indonesia such as Sulawesi, Kalimantan and Sumatra. This positive trend is believed to continue until the end of the year and is expected to grow significantly from the sales performance of UD Trucks' mining trucks last year.Source: https://industri.kontan.co.id/news/ud-trucks-catat-peningkatan-penjualan-truk-khusus-pertambangan

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