PT Freeport Indonesia (PTFI) is preparing to apply for an extension of its Special Mining Business Permit (IUPK) this year. The validity period of PTFI's mining concession itself will end in 2041.In its Q1-2025 financial report, PTFI's parent company, Freeport-McMoRan Inc (FCX) stated that the contract extension application will be made this year while waiting for an agreement with PT Mineral Industri Indonesia (MIND ID) regarding the transfer of an additional 10% of PTFI shares in 2041."While waiting for an agreement with MIND ID regarding the sale and purchase of an additional 10% of ownership in PTFI in 2041," wrote FCX management in its financial report, quoted Sunday (27/4).FCX ensures that it will meet all the requirements of the Indonesn government to secure the extension of the IUPK post-2041. Some of the requirements include the addition of 10% of MIND ID ownership in PTFI, additional exploration commitments, and increased smelter capacity."This extension will allow for the continuation of large-scale operations in the best interests of all parties," FCX management wrote.Meanwhile, VP Corporate Communications PT Freeport Indonesia Katri Krisnati revealed that the IUPK extension is currently still in the finalization process."Regarding the extension of the IUPK including the divestment of 10% of PTFI shares, it is currently still in the finalization process," Katri told Kontan, Sunday (27/4).On the other hand, the Director General of Minerals and Coal at the Ministry of Energy and Mineral Resources, Tri Winarno, said that as of Friday (25/4) there had been no official discussion regarding the extension of the IUPK or the release of additional FCX shares."Not yet, not yet," said Tri at the ESDM Ministry Office.

Several gold mining companies are taking advantage of the precious metal price rally to increase revenue this year. Efforts to reduce production costs are also being pushed to widen profits.GM Corporate Communication PT Merdeka Copper Gold Tbk (MDKA) Tom Malik said the ongoing increase in gold prices has had a positive impact on the company's performance.However, said Tom, the company cannot automatically increase production because mining activities refer to the work plan and budget (RKAB) that has been approved by the Ministry of Energy and Mineral Resources (ESDM)."The increase in gold prices has certainly had a positive impact on the company's performance," said Tom when contacted, Thursday (24/4/2025).MDKA plans to record gold production of 100,000 ounces to 110,000 ounces with cash costs between USD 1,100 per ounce and USD 1,200 per ounce this year.Meanwhile, all-in sustaining costs for this year are targeted at USD 1,500 per ounce to USD 1,700 per ounce.On the other hand, Tom said, government regulations requiring mining industry players to use  B40 biodiesel from early 2025 have also increased the company's production costs this year."MDKA always innovates and makes efficiency to reduce production costs and increase margins," he said.Thin ScanOn the other hand, Vice President of Corporate Communications and Investor Relations of PT Amman Mineral Internasional Tbk (AMMN) Kartika Octaviana said that the current gold price movement does not have much impact on the company's production strategy.AMMN, said Kartika, continues to produce gold as optimally as possible, in accordance with the mining plan based on a comprehensive mining geology study."In accordance with the guidance we released in March, FY 2025 production is planned to be around 228 million pounds of copper and 90,000 ounces of gold," said Kartika when contacted, Thursday (24/4/2025).Similarly, President Director of PT Amman Mineral Nusa Tenggara (AMNT)—a subsidiary of AMMN—Rachmat Makkasau said that his company is trying to reduce production costs amidst the current momentum of the gold price rally."So our productivity is getting better," said Rachmat when met on the sidelines of the Indonesia AI Day agenda, Thursday (24/4/2025).Just for the record, the price of gold had set a new record by breaking through the USD 3,500 per ounce level for the first time, driven by market concerns that President Donald Trump would fire the Governor of the US central bank or the Federal Reserve (The Fed), Jerome Powell.This uncertainty has prompted investors to flee from stocks, bonds and the US dollar towards safe haven assets such as gold.Gold rose 1.1% to USD 3,323.50 an ounce on Thursday in New York, after rising as much as 2.4% in the session. The Bloomberg Dollar Spot Index fell 0.2%. Silver slipped while platinum and palladium gained.Through 2025, gold prices have jumped by a third, as trade tensions roil global markets and erode confidence in dollar-based assets.“Gold’s rapid rise this year shows that the market is increasingly losing confidence in the United States,” said Lee Liang Le, analyst at Kallanish Index Services.The increase was also driven by inflows into gold-based mutual funds and purchases by central banks, with the price of the precious metal posting increases every month so far this year.Several major banks are also increasingly optimistic about gold's prospects amid the continuing rally. Goldman Sachs Group Inc, for example, estimates that gold prices could reach USD 4,000 per ounce by the middle of next year.

Bernardus Irmanto was appointed as Acting President Director and Chief Executive Officer (CEO) of PT Vale Indonesia Tbk. (INCO) replacing Febriany Eddy who resigned.Chief of CEO Office and Corporate Secretary INCO Wiwik Wahyuni ​​said the appointment of Bernardus, who currently also serves as Director and Chief of Sustainability and Corporate Affairs Officer, is to maintain the effectiveness of the implementation of the company's management."The Acting CEO is effective from April 24, 2025 until the GMS appoints a definitive CEO," said Wiwik in an information disclosure, Thursday (4/24/2025).Wiwik also emphasized that the appointment would not impact the company's operations, legality, financial condition or business continuity."The Company will provide further information if there is any, taking into account the provisions of applicable laws and regulations," he concluded.Previously, Febriany Eddy officially ended her term as President Director and CEO of PT Vale Indonesia Tbk. ( INCO ) after being appointed as Director of PT Biro Klasifikasi Indonesia.Chief of CEO Office and Corporate Secretary INCO Wiwik Wahyuni ​​said that the company had received a notification letter regarding the end of Febriany Eddy's term of office as the leader of this mineral mining company."This notification is delivered in connection with the appointment of Mrs. Febriany Eddy as Director of PT Biro Klasifikasi Indonesia [Persero] or BKI," he said in the information disclosure of the Indonesia Stock Exchange, Wednesday (23/4/2025).He explained that in the latest regulations there is a prohibition on members of the BUMN board of directors from holding concurrent positions in other state-owned enterprises.In addition, the provisions in Vale Indonesia's Articles of Association also stipulate that the position of a member of the company's board of directors cannot be continued if it conflicts with applicable laws and regulations.As is known, Febriany has been appointed as Managing Director (MD) of BPI Danantara Operational Holding. In this strategic position, Febriany will be accompanied by Agus Dwi Handaya who also serves as MD.Danantara CEO Rosan Roeslani said that Febriany is the right person to fill an important seat in the Danantara Operational Holding."One of the most persistent female CEOs I have ever met," said Rosan in the announcement of the BPI Danantara management in Jakarta, Monday (24/3/2025).Profile of Bernardus IrmantoBefore joining Vale, Bernardus Irmanto has held various positions in mining industry companies, such as Newmont Nusa Tenggara, Fujitsu Asia Pacific Pty. Ltd to PT Freeport Indonesia.Bernardus joined PT Vale in August 2004 as a Senior Systems Analyst. In February 2007, Bernardus served as General Manager of IT until he was appointed as General Manager responsible for PT Vale's shared services operations in May 2009.This man, who graduated from Gadjah Mada University in 1997, was appointed as Deputy President Director of PT Vale on February 16, 2011 after previously becoming Director on October 28, 2010.At the Annual General Meeting of Shareholders for 2014, 2016 and 2018, Bernardus Irmanto was reappointed to the same position.

LG's withdrawal from the "Titan Project" may delay Indonesia's goal of becoming a hub for electric vehicle (EV) batteries, Deputy Chairman of the Indonesian Energy, Mineral, and Coal Suppliers Association (Aspebindo), Fathul Nugroho, stated."The cancellation of the Titan Project, which was a collaboration between LGES (LG Energy Solution) and Indonesia Battery Corporation (IBC), will postpone the production target for nickel-based EV batteries," Nugroho remarked here on Tuesday.He noted that the Titan Project was expected to be the backbone of the national battery ecosystem development in the world’s largest nickel producer.He also warned that LGES's withdrawal could delay the transfer of technology needed to process nickel into high-quality battery materials. He explained that the ability to process precursors and cathodes is key to increasing the added value of minerals."Losing the opportunity for technology transfer in this high-value sector could widen our dependence on imports," he remarked.He explained that the LGES consortium's decision to cancel the EV battery project reflects global dynamics that must be addressed with more mature downstream policies.That way, the active roles of the Downstream Task Force and the Ministry of Investment and Downstreaming are considered crucial to strengthen policy ecosystems and attract sustainable strategic investments.LG's withdrawal from the project was reportedly influenced by external factors, including a global slowdown in EV demand and changes in LGES's corporate strategy."This is where the Ministry of Investment and Downstreaming needs to take a more aggressive role in opening new cooperation channels, while the Downstream Task Force can optimize cross-sector coordination to reduce structural barriers," Nugroho stated.A South Korean consortium led by LG has reportedly decided to withdraw from an estimated 11 trillion won (IDR 130.7 trillion) project to establish an electric vehicle (EV) battery supply chain in Indonesia, according to Yonhap sources on Friday (April 18).The consortium, which includes LG Energy Solution, LG Chem, LX International Corp, and other partners, had been collaborating with the Indonesian government and state-owned enterprises to develop an "end-to-end value chain" for EV batteries.This initiative aimed to encompass the entire process, from raw material procurement to precursor production, cathode materials, and battery cell manufacturing.

Behind the roar of heavy equipment and the gleam of precious metals, there is hope growing from the land of West Sumbawa. PT Amman Mineral Nusa Tenggara (AMMAN) is not just mining copper—they are digging for the future. With cutting-edge technology and a spirit of innovation, AMMAN shows how the extractive industry can be a force that protects lives, the environment, and the future of the country.Amidst global challenges that increasingly demand efficiency and sustainability, AMMAN is responding with concrete solutions: from precision blasting technologies that reduce waste to energy-efficient and environmentally friendly smelting processes. Innovations such as 4D Blasting, Froth Crowder, and Double Flash Smelting are not just technological jargon—they have real impacts, from increased copper recovery to improved production efficiency.But more than that, AMMAN shows that human life is the top priority. With a worker health monitoring system, massive safety education, and achieving a TRIFR of 0.98 by the end of 2024, AMMAN is among the mining companies with the highest safety levels in the world."From Batu Hijau, we build not only for today, but for future generations. Innovation is not just a choice, but a responsibility," said Kartika Octaviana, Vice President of Corporate Communications of PT Amman Mineral Internasional Tbk, through a press statement, Monday (21/5/2025).With the spirit of zero harm and sustainability as its foundation, AMMAN mines not just for profit, but for life. For the surrounding community, for Indonesia, and for a more humane industrial future.

China's decision to add coal-based Steam Power Plants (PLTU) until 2027 is considered to have an impact on increasing Indonesian coal exports.According to the Indonesian Energy, Mineral and Coal Suppliers Association (Aspebindo), this export increase could reach 10% per year. "If China consistently increases PLTU capacity and optimizes new power plants, then Indonesian coal exports to China have the potential to grow by 10% per year until 2027 or an additional 25 million tons per year," said Fathul Nugroho, Deputy Chairman of Aspebindo, Wednesday (16/04).However, the potential for increased exports will also depend on China's domestic supply capabilities and competition with other producers such as Australia."However, this figure needs to be reviewed if there is a decline in demand from China's industrial sector due to the tariff war with the US," he added.He also added that China's plan to continue building PLTUs for electricity supply is supported by its domestic industry which continues to grow."China's policy of building PLTUs until 2027 opens up significant opportunities for increasing Indonesian coal exports. China is still the main market for Indonesian thermal coal, and their coal needs are projected to remain high," he explained.In total between 2026-2027, China is expected to build 60 GW of new PLTUs, outside of the 95 GW that will operate in 2025.According to Fathul, the increase in demand from China could be a positive stimulus for global coal prices, especially if accompanied by limited supply from major producers."Aspebindo estimates that thermal coal prices will be in the range of US$ 60 per ton–US$ 80 per ton for GAR 4,200 and US$ 120 per ton–US$ 150 per ton for GAR 6,300. With the potential for a spike if there is a supply disruption or sudden increase in demand," he said.China's plan will boost the performance of Indonesian coal companies, both mining contractors and supply chains and traders .However, coal companies must also overcome challenges such as regulatory pressure, rising operating costs, and competition with alternative energy sources."Aspebindo encourages companies to increase efficiency and investment in low-emission technology to maintain competitiveness in the global market," he concluded.

Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia is targeting a number of critical mineral commodities to be included in the scope of investment cooperation between Indonesia and Saudi Arabia.This cooperation itself has just entered the stage of signing a memorandum of understanding (MoU) by Bahlil and the Saudi Arabian Minister of Industry and Energy, Thursday (17/4/2025). The cooperation opportunities include investment in critical mineral commodities."They want to cooperate, especially in the mining sector and they are also now expanding from oil to their minerals," he told reporters when met at the Presidential Palace Complex, Jakarta, Thursday (17/4/2025).Bahlil said Indonesia is open to the opportunity for cooperation. Not only the government and BUMN, the private sector is also invited to be able to realize the critical mineral cooperation in question.“They want to cooperate with the Indonesian government and Indonesian entrepreneurs, both state-owned and private, and we are open, we also invite them to build investments together, especially in critical minerals”, said the figure who is also the General Chairman of the Golkar Party.In the future, the government will form a small Ad Hoc team to follow up on the MoU that has been signed by the two countries. The team, said Bahlil, is still being formed. He said there are a number of critical mineral commodities that have the potential to be included in the scope of cooperation."There is nickel, then bauxite, then some like manganese, like that," he said. Based on previous Bisnis reports, the Minister of Industry and Mineral Resources of the Kingdom of Saudi Arabia, Bandar Al-Khorayef, also visited the state-owned mining holding company, MIND ID, on Tuesday (15/4/2025).The Saudi Arabian Kingdom official discussed the potential for strengthening cooperation in developing downstreaming and transforming the mining industry with MIND ID.Al-Khorayef said in his statement that Saudi Arabia's mineral reserves have increased by 90% in the last five years. This is considered to strengthen Saudi Arabia's position as a new global center for processed minerals.

PT Aneka Tambang Tbk (ANTM) or Antam has entered the pre-construction phase for the construction of a gold printing plant in the Java Integrated Industrial and Ports Estate (JIIPE) area, Gresik, East Java.Antam Corporate Secretary Syarif Faisal Alkadrie said the factory would begin construction in the fourth quarter of 2025.During an analyst meeting some time ago, Antam management estimated that this project would cost an investment of around IDR 1.1 trillion, with a production capacity of 5 million pieces of precious metal bars and coins as well as industrial gold."Currently still in the pre-construction phase, after operating it will synergize with the Freeport smelter", said Faisal when contacted, Wednesday (16/4/2025).On Thursday, November 7, 2024, Antam and PT Freeport Indonesia (PTFI) signed a gold metal sale and purchase agreement.From the agreement, Antam will later absorb 30 tons of gold produced through the precious metal refinery (PMR) facility, including in the refining plant or copper cathode smelter owned by Freeport in Manyar, Gresik, East Java.The contract at this stage lasts for 5 years with a value of around USD 12.5 billion or equivalent to IDR 200 trillion.Faisal added that his company is temporarily processing gold from Freeport at existing facilities, while waiting for the construction of a new factory in Gresik."We ensure that funding will not burden the company's financial performance, by considering aspects of sustainability, a healthy debt ratio, and compliance with regulations," he said.This new factory is a development of Antam's gold and silver manufacturing facilities to increase the production of Precious Metal gold printing.Antam currently operates a precious metal refining plant in Pulogadung Jakarta, which is the only gold refining plant in Indonesia that has London Bullion Market Association (LBMA) accreditation.Previously, PTFI President Director Tony Wenas said the contract at this stage would last for 5 years with a value of around USD 12.5 billion or equivalent to IDR 200 trillion assuming the current exchange rate."[As many as] 30 tons [of Freeport gold] were absorbed by Antam, if Antam needs more, we are also ready for more than 30 tons, and the contract for this stage is for five years. If calculated from the amount, the value is around USD 12.5 billion, depending on the gold price, or IDR 200 trillion," said Tony, November last year.Tony said that Freeport Indonesia's PMR facility is basically complete and ready to produce gold bars in the second week of December 2024 with a total of 50-60 tons of gold and 200 tons of silver per year."There is also the platinum metal group, namely platinum 30 kg per year and there is palladium 375 kg per year, besides of course there are other minerals such as celenium", he said.

PT Sinar Terang Mandiri Tbk (MINE) continues to focus on increasing the number of heavy equipment to improve operational activities. The purchase of heavy equipment will come from funds collected by the company from the initial public offering (IPO) of shares.The issuer, which was officially listed on the Indonesia Stock Exchange (IDX) on March 10, 2025, raised public funds from the IPO amounting to IDR 132.33 billion after releasing 612.66 million shares or equivalent to 15% of the capital at an offering price of IDR 216 per share.The majority or equivalent to 48% of the total IPO funds will be spent by MINE to purchase heavy equipment and 11% to purchase fixed assets in the form of land and buildings owned by the Main Commissioner and controller of MINE, Sinjo Jefry Sumendap.The remainder is used to support PT Weda Bay Nickel (WBN) project activities, including purchasing fuel, heavy equipment spare parts, heavy equipment rental, and other supporting fleets.MINE President Director Ivo Wangarry said that adding equipment is the company's focus going forward to optimize business opportunities in the nickel mining sector."The increase in the number of heavy equipment will further increase the company's capabilities in nickel addition services, so that it will have a direct impact on the company's income," explained Ivo in his official statement, Wednesday (16/4/2025).Ivo believes that the domestic nickel industry downstreaming program and increasing global demand for nickel will be a positive business opportunity for the company.Because, Indonesia as one of the largest nickel producers with reserves reaching 20% ​​of the world's total reserves, has a great opportunity to become a major player in the global electronic vehicle (EV) or electric vehicle industry supply chain."With the increasing investment in the electric vehicle ecosystem, we are optimistic that this industry will continue to grow rapidly. This is certainly a positive catalyst for MINE, which has more than 20 years of competence and experience in providing high-quality services to the nickel mining and processing sector," said Ivo.Net profitThroughout 2024, the issuer of other mining and excavation support services posted a net profit that soared by 41% to IDR 306.49 billion, compared to IDR 217.28 billion in 2023.Profit growth is supported by net income that increased by 20.42% to IDR 2.11 trillion in 2024, from IDR 1.75 trillion in 2023. The majority of revenue comes from the mining services business of IDR 2.10 trillion. This amount reaches 99.35% of the Company's total revenue.MINE's total assets also jumped 56% to IDR 1.61 trillion from IDR 1.03 trillion. The increase in assets was supported by an increase in net fixed assets of 57.7%, in accordance with requests from employers who are MINE's partners to increase nickel ore mining production.Third party accounts receivable also increased significantly by 103% to IDR 248.45 billion from IDR 122.27 billion and Gross Bills to employers increased by 48.9% to IDR 481.39 billion from IDR 323.40 billion compared to the 2023 position."Supported by a strong capital structure and support from shareholders, business partners, and all stakeholders, we are optimistic that we can make a greater contribution in supporting the nickel industry and national economic growth," concluded Ivo.

Coordinating Minister for the Economy, Airlangga Hartarto, said that Russian investors are interested in investing in Indonesia’s mining and energy sectors under the Daya Anagata Nusantara Investment Management Agency (BP Nusantara).Airlangga noted that the government needs an investment of US$800 billion (Rp13,453 trillion) until 2029, so that national economic growth could reach 8 percent annually in 2028."Investors in Danantara certainly invest in a very strategic nature. Investors from Russia are interested in aluminum processing and energy," Airlangga said on Monday, April 14, 2025.Airlangga cited that the government targeted Russian investors to invest in several sectors, such as cybersecurity, small modular reactors, tourism and education. He also emphasized that investment in the form of educational scholarships in Russia is a priority for the government at this time.He said further that the main strategy for the country’s economy to grow 8 percent is investment in the downstream sector. According to him, this is important because it increases the added value of local products and deepens the domestic supply chain.Airlangga noted several sectors that would be the government's priority to enter the downstream program, including nickel, copper, bauxite and palm oil."I think Russian investors can invest in the critical mineral, technology and raw material sectors," he said.