Indonesia Miner : News

Macmahon Holdings Limited says it has been selected by PT Tambang Tondano Nusajaya, a subsidiary of PT Archi Indonesia Tbk, as the underground services contractor at the Toka Tindung Gold Mine in North Sulawesi, Indonesia.The scope for Macmahon includes all underground exploration mine development services and associated works. The AUD 33 million (USD 21.4 million) contract will commence immediately for an initial 32-month period and key mining equipment required at commencement will be primarily deployed from existing fleet.The company’s FY26 capital expenditure budget remains unchanged.Michael Finnegan, Managing Director and CEO, said: “We are delighted to be selected as the mining contractor at the Toka Tindung Gold Mine, a high-quality asset with significant growth potential. This award reflects our strategic focus on responsibly expanding in Indonesia through long term partnerships with respected companies like PT Archi.“I would like to thank our team for the commitment and effort they have invested over the past two years to build a trusted relationship with PT Archi, one that we look forward to strengthening in the years ahead.”

PT Agincourt Resources Wins 7 EPSA 2025 Awards, Strengthening Commitment to Sustainable Gold Mining

31 Aug 2025, 11:01 AM 40

PT Agincourt Resources (PTAR), the operator of the Martabe Gold Mine, has again recorded a brilliant achievement by winning seven awards at the 2025 Eco-Tech Pioneer and Sustainability Award (EPSA) held by the Department of Environmental Engineering, Diponegoro University in Semarang, August 31, 2025.PTAR Environmental Monitoring Superintendent, Bayu Ariyanto, explained that the awards consisted of two gold, three silver, and two bronze medals.According to him, this achievement confirms the company's consistency in balancing environmental, social, and technological interests across all aspects of mining operations."Through innovation and cross-sector collaboration, PTAR is committed to implementing responsible gold mining practices, providing benefits to the surrounding community, while preserving the environment," said Bayu.The seven programs that were appreciated include First, Bagas Silua Gallery (Bronze): a marketing platform for products from 31 MSMEs partnered by Batang Toru and Muara Batang Toru.Second, Utilization of FIBC Waste into Trash Baskets (Perak): managing hundreds of tons of plastic waste since 2020 while creating jobs for the community. Third, Hypobaric Fraction Separator (Gold): technology for refining used oil up to 80% to replace diesel in explosives.Fourth, Jurung Fish Conservation with BioFAD (Bronze): preservation of endemic fish through community collaboration.Fifth, Closed-Loop Energy Reclamation with ITC (Gold): energy efficiency in the rock grinding unit that saves up to 1.36 million kWh of electricitySixth, Optimizing Copper Water Pollution Reduction with Selective Chelator (Silver): reducing mine water pollution by more than 33 tons by 2024.Seventh, Leanslope Pit Ramba Joring Innovation (Silver): redesign of mining roads to reduce diesel consumption, suppress carbon emissions, and improve workplace safety.This success continues a positive trend since 2021, where PTAR has consistently won seven awards each year at the EPSA event.This year, two outstanding innovations that have attracted attention are the use of used oil as an alternative fuel and energy efficiency in mining processing units.In addition to technical aspects, PTAR is also actively engaging the community, one of which is through the Jurung fish conservation program which received appreciation in the Eco-System Protection category."Every department contributes to innovation. Our focus isn't just on operational efficiency, but also on delivering tangible environmental and social benefits," Bayu added.Meanwhile, Wijayanto, S.IP., M.Si., Ph.D., Vice Chancellor for Research, Innovation, Cooperation and Public Communication at Undip, said that EPSA was designed to encourage companies to be more creative in maintaining environmental sustainability.This year's theme, Swarna Lestari Nusantara, reminds us that environmental sustainability is part of the nation's cultural heritage.Similarly, the Head of the Central Java DLHK, Widi Hartanto, said that EPSA has become a benchmark for implementing environmentally friendly innovations in the business sector."Over the past three years, EPSA has proven its commitment to encouraging companies in Central Java to improve efficiency in energy, water, and waste management, as well as biodiversity conservation. The challenges of the climate crisis must be met with real commitment," he stressed.With this achievement, PT Agincourt Resources further strengthens its role not only as a profit-oriented mining company, but also as a pioneer of sustainable innovation that provides social benefits and maintains environmental sustainability.

UNTR Revises Plans and Prepares for Up to USD 1 Billion Acquisition

31 Aug 2025, 10:01 AM 38

PT United Tractors Tbk (UNTR) revised its 2025 overburden volume guidance to 1.18 billion bcm, lower than the initial target of 1.25 billion bcm and implying a 3% year-on-year decrease from the 2024 realization.The downward revision of the mine's overburden and rock removal target was due to poor weather in the first half of 2025, which hampered mining contractor activity. This was revealed by United Tractors management in a recent earnings call with analysts discussing second-quarter 2025 performance."The client's stripping ratio for 2025 is estimated to be around 7.7-7.8 times, which implies coal production of 151-153 million tons, or an increase of 2-3.4% year-on-year from the 2024 realization," Stockbit Sekuritas wrote in a note, quoted on Sunday (August 31, 2025).Meanwhile, the issuer, codenamed UNTR, maintained its 2025 sales guidance for Komatsu-brand heavy equipment at 4,600 units. Sales are projected to remain relatively flat in 2026, before increasing in 2027 as the mining sector enters its heavy equipment replacement cycle.Meanwhile, coal sales volume in 2025 is estimated at 14 million tons, unchanged from initial guidance . Sales volume in 2026 is expected to be flat or slightly higher, with a projected maximum sales volume of 15 million tons.For 2027, UNTR projects an increase in sales volume to 17-18 million tonnes, in line with the completion of port infrastructure development.Regarding the mineral and gold segments, UNTR maintains its gold and nickel sales guidance for this year at 24 thousand oz of gold and 2 million tonnes of nickel, respectively.UNTR will focus on the minerals sector rather than the renewable energy sector due to the potential for larger businesses to be acquired. "UNTR is targeting acquisitions worth USD 500 million to USD 1 billion, although management did not specify a timeline," said Stockbit Sekuritas.Overall, according to Stockbit, the points conveyed by UNTR management align relatively with Stockbit's views. "We remain neutral on UNTR. Investors should monitor the progress of the acquisition plan, as a quality and scalable acquisition could be a positive catalyst for UNTR's share price," the securities broker stated.Currently, in the mining contractor sector, Stockbit is more positive on PT Darma Henwa Tbk (DEWA) and PT Petrosea Tbk (PTRO). This assessment is based on the growth drivers of each company.Stock Price Recommendations and TargetsIn the second quarter of 2025, United Tractors (UNTR) posted revenue of IDR 34.26 trillion, relatively flat quarterly (0.0% quarter-on-quarter) but up 6.7% year-on-year (yoy). Cumulatively, revenue for this subsidiary of PT Astra International Tbk (ASII) increased 6.2% year-on-year in the first half of 2025 to IDR 68.52 trillion.UNTR's net profit in the second quarter of 2025 was IDR 4.94 trillion, a 55% quarter-on-quarter increase, but a slight 0.8% year-on-year decline. This brings the company's total net profit for the first half of 2025 to IDR 8.13 trillion, a 14.7% year-on-year decline."UNTR's net profit in the first half of 2025 was still below analyst expectations, reaching 44.7%," wrote Miftahul Khaer, an equity researcher at Kiwoom Sekuritas Indonesia, in his research.Operationally, UNTR's Komatsu heavy equipment sales in the second quarter of 2025 reached 1,343 units, a 3% decrease quarter-on-quarter (QoQ) but a 31.5% increase year-on-year. Total sales for the first half of 2025 reached 2,728 units, a 27.1% increase year-on-year.Coal production in the second quarter of 2025 reached 36 million tons, up 2.7% quarter-on-quarter (QoQ) but down 3.3% year-on-year. Gold sales reached 368,000 ounces, up 19.3% quarter-on-quarter (QoQ) or 33.2% year-on-year. Nickel sales reached 562,000 WMT, up 7% quarter-on-quarter (QoQ) or 12.3% year-on-year."Despite challenges in several segments, UNTR demonstrated resilience in its construction and gold mining business lines, while also facing margin pressure across its operations," Miftahul said.Kiwoom Sekuritas recommends holding UNTR shares. Based on multiple valuation methods (DCF, P/E, and PBV) and a projected decline in net profit, UNTR's target share price for the next 12 months has been revised to IDR 26,775 from IDR 28,725.

Antam Records Net Profit of IDR 5.14 Trillion

30 Aug 2025, 10:46 AM 55

PT Aneka Tambang Tbk (ANTM) posted a net profit of IDR 5.14 trillion during the first half of 2025. This figure increased 240 percent compared to the same period last year of IDR 1.51 trillion.Antam's President Director, Achmad Ardianto, stated that his company continues to implement innovation, cost discipline, and operational efficiency. These measures are considered to be able to maintain strong business fundamentals and sustainable growth, strengthening Antam's position as a leading mining company in Indonesia."By disciplinedly controlling costs, optimizing efficiency, and adapting strategies to market conditions, the Company has succeeded in maintaining operational stability and competitive cash production costs," he said in a written statement, quoted on Saturday, August 30, 2025.From January to June 2025, Antam recorded net sales of IDR 59.02 trillion, a 155 percent increase compared to net sales of IDR 23.19 trillion in the same period last year.Domestic sales contributed 97 percent, or IDR 57.11 trillion, to total sales. The gold segment was the largest contributor to Antam's sales, with sales increasing 163 percent, or IDR 49.54 trillion, compared to IDR 18.83 trillion in the same period last year. Gold products were the largest contributor to Antam's sales, accounting for 84 percent of total sales.Achmad said Antam's gold sales were driven by geoeconomic and geopolitical conditions, as well as the company's business strategy. "Antam recorded significant growth, again setting a record for the highest quarterly gold sales in history in the second quarter," he said.Antam posted a 23 percent increase in assets, or IDR 48.38 trillion, from IDR 39.18 trillion in the same period last year. Furthermore, Antam's equity value also increased to IDR 33.71 trillion from IDR 29.69 trillion.Meanwhile, Antam's nickel segment, such as ferronickel and nickel ore products, contributed 13 percent or IDR 7.87 trillion of total sales in the first half of 2025. Nickel segment sales jumped 125 percent.Achmad said this achievement was supported by domestic industrial demand for Antam's nickel ore products. "This confirms Antam's strategic role in supporting the development of the national downstream nickel industry ecosystem, while also strengthening the company's position as a primary raw material provider for the nickel processing and refining sector in Indonesia," he said.

Banyuwangi Emerges as Home to Indonesia’s Third Largest Copper Mine

27 Aug 2025, 11:11 AM 38

Banyuwangi Regency is not only rich in natural scenery but also holds world-class mineral potential. After gold, it has now been revealed that this easternmost region of Java has the third-largest copper mining potential in Indonesia.This news was conveyed by Roelly Fransza, General Manager of Operations (GMO) and Head of Mining Engineering (KTT) at PT Bumi Suksesindo (PT BSI). He stated that in March 2024, the Mineral Resources Estimate (MRE) indicated an increase in mineral reserves, reaching 8.2 million tons of copper and 22.9 million ounces of gold."When the Tujuh Bukit Copper Project is operational, it will be the third-largest copper mine in Indonesia. It has the potential to increase Indonesian copper production by 10-15 percent," he said on Wednesday (August 27, 2025).Roelly, as he is familiarly known, added that the pre-feasibility study also indicated significant economic benefits for developing an underground mine at Mount Tumpang Pitu in Sumberagung Village, Pesanggaran District. This potential is projected to be long-lived and globally significant with a phased approach."At peak production, it will process 24 million tons of ore per year, producing 110,000 tonnes of copper and 350,000 ounces of gold over 30 years," he explained.As an investor, this subsidiary of PT Merdeka Copper Gold Tbk is committed to making a positive impact on both the central and regional governments, through tax and non-tax contributions, job creation, business opportunities for local companies, and Community Development and Empowerment (PPM) programs, also known as Corporate Social Responsibility (CSR).For your information, PT BSI, which operates in Pancer Hamlet, Sumberagung Village, Pesanggaran District, Banyuwangi, has been designated as a National Vital Object (Obvitnas) through the Decree of the Minister of Energy and Mineral Resources Number 159.K/90/MEM/2020.This Domestic Investment Company (PMDN) holds a Production Operation Mining Business Permit (IUP OP) based on Decree No. 188/547/KEP/429.011/2012. This permit covers five villages in Pesanggaran District: Sumberagung, Pesanggaran, Sumbermulyo, Sarongan, and Kandangan.PT BSI also continues to demonstrate its commitment to local communities through eight core Community Empowerment (PPM) programs. These programs cover education, health, employment, economic independence, socio-cultural preservation, environmental protection, community organization formation, and infrastructure development.

French Miner Eramet Searches for Lithium in Central Java

27 Aug 2025, 09:46 AM 479

French miner Eramet is currently looking for lithium potential in Central Java as the foreign investor seeks to supercharge Jakarta’s dream of building an ecosystem for electric vehicles (EVs).The search for lithium, a key ingredient in EV battery production, centers in the mud volcano Bledug Kuwu of Central Java. Eramet also partners with Indonesia’s government-run Geological Agency.“We have taken a sample to find lithium content in the volcanic area,” Eramet Indonesia’s chief executive officer Jérôme Baudelet told reporters in Jakarta on Monday, as quoted by the state news agency Antara.Eramet is currently studying the sample at its research center in France. If the lithium content is low, it is impossible for Eramet to begin industrialization in the area, according to Baudelet. Under the partnership, Eramet will provide the technology necessary to find lithium. Once lithium is discovered, they will move on to the exploitation phase in which the output will go into Indonesia’s development EV battery industry. In other words, the lithium won’t leave the country for exports.Geological Agency’s head Mohammad Wafid said that Indonesia currently already possessed other minerals that were also key to EV battery production, namely nickel and cobalt. The Southeast Asian country even holds the world’s largest nickel reserves.Eramet’s main presence in Indonesia is at the Weda Bay Nickel joint venture. The company runs an open-pit nickel mining operation in North Maluku’s Halmahera in a joint venture that it shares with Chinese stainless steelmaker Tsingshan and state-owned miner Antam. The site accounts for around 17 percent of the world’s nickel production. Eramet has also partnered with Jakarta's sovereign funds Danantara and the Indonesia Investment Authority (INA) in a deal related to the nickel-based battery materials.

Archi Indonesia (ARCI) Engages Macmahon to Work on Underground Mining Operations

27 Aug 2025, 09:36 AM 566

PT Archi Indonesia Tbk (ARCI), through its subsidiary, PT Tambang Tondano Nusajaya (TTN), officially appointed PT Macmahon Indonesia as the mining services contractor for the underground Copra mine. The agreement was signed on August 25, 2025."The Company's subsidiary, namely PT Tambang Tondano Nusajaya (TTN), has entered into a cooperation agreement with PT Macmahon Indonesia, a third-party company, through a Copra Underground Mine Development Service Contract," said ARCI Corporate Secretary, Hidayat Dwiputro Sulaksono.Under this contract, Macmahon Indonesia will provide various services related to mine development, blasting activities, loading and stockpiling of materials, rock support, installation, maintenance of tunnel mining services, and complete the development safely with a cooperation period of 34 months.The exact value of the cooperation transaction was not disclosed, but management emphasized that this collaboration is believed to provide added value for the Company."Providing a positive impact on the Company's business continuity and improving the Company's financial and operational performance," Hidayat emphasized.

Eramet Indonesia Targets 42 Million Tons of Nickel Production by End of 2025

25 Aug 2025, 09:36 AM 70

Eramet Indonesia is targeting nickel ore production of 42 million tons by 2025, after receiving an additional quota from the Ministry of Energy and Mineral Resources (ESDM). The same target is projected for next year.Eramet Indonesia CEO Jérôme Baudelet said the company initially only received a production permit for 32 million tons. However, the Ministry of Energy and Mineral Resources (ESDM) granted an additional quota extension of 10 million tons, increasing this year's total production target to 42 million tons."Initially, our RKAB was 32 million tons, but recently we received an extension from the Ministry of Energy and Mineral Resources for another 10 million tons. So, this year's production estimate is around 42 million tons," Jérôme told reporters after the Eramet Journalist Class: Understanding the Indonesian Nickel Industry – Current Perspectives and Sustainable Practices, Monday (25/8/2025).He said production in 2026 is expected to remain at the same level at around 42 million tonnes.Jérôme revealed that nickel reserves at the Weda Bay mine are still large enough to support mining activities for more than two decades. However, plans to increase production capacity to 60 million tons per year are still awaiting government approval.Development of Collaboration with DanantaraThe composition of Eramet Indonesia's production within the target includes 30 million tons of saprolite, most of which is supplied to Morowali Industrial Park (MPI), around 3 million tons for the internal needs of the Eramet factory, and 12 million tons of limonite allocated to support the needs of the High Pressure Acid Leach (H-PAL) industry in Weda Bay.Eramet Indonesia CEO Reveals Developments in Collaboration with DanantaraPreviously, Eramet Indonesia stated that collaboration with BPI Danantara and the Indonesia Investment Authority (INA) in building an ecosystem for raw materials for electric vehicle (EV) batteries is still ongoing.Eramet Indonesia CEO Jerome Baudelet said he could not yet elaborate on the details of the memorandum of understanding (MoU) as it was still under discussion.Nevertheless, Jerome confirmed that Eramet would continue discussions regarding several potential projects with national investment institutions. PT Weda Bay Nickel (WBN) is also involved in this process.Still in the Early Stages of Discussion"We are in discussions with Danantara and INA to collaborate. Weda Bay Nickel is clearly involved in these discussions," Jerome said at the Eramet Journalist Class event: Understanding the Indonesian Nickel Industry – Current Perspectives and Sustainable Practices, Monday (August 25, 2025).Jerome explained that because the MoU is still in its early stages, he cannot yet divulge further details regarding the plans being developed. He also added that some information cannot be made public yet, as discussions are still ongoing."This is still an early stage of discussions. Obviously, there's a degree of confidentiality involved, but at least the talks are progressing. INA and Danantara are excellent partners," he concluded.Eramet: Indonesia Will Be the World's Largest Nickel Producer in 10 YearsPreviously, Eramet Indonesia, part of Eramet, a French multinational mining and metallurgical company, believed that Indonesia would become the world's largest nickel producer. This was based on Indonesia's current reserves.Eramet Indonesia CEO Jérôme Baudelet explained that Indonesia will become the world's largest nickel producer within the next ten years. This view follows a significant increase in production over the past three to five years.By 2023, Indonesia will supply 55 percent of the world's total nickel production, increasing global dependence on Indonesia's nickel supply."We strongly believe that Indonesia will continue to be a global nickel production hub over the next 10 years. Indonesia will account for 70 percent of global nickel production during that period," said Jérôme, as quoted on Thursday (November 7, 2024).Jérôme also revealed that production at Weda Bay Nickel, Eramet's joint venture with Tsingshan, is also showing rapid growth. By 2024, Weda Bay Nickel's nickel production will reach 32 million tons, in line with the production quota set in the Work Plan and Budget (RKAB).

ESDM Issues New Guidelines on Benchmark Prices and Royalty Calculations for Minerals and Coal

23 Aug 2025, 09:54 AM 394

The Ministry of Energy and Mineral Resources (ESDM) has permitted businesses to sell mineral and coal commodities below the mineral benchmark price (HPM) and coal benchmark price (HPB).This provision is stipulated in ESDM Ministerial Decree (Kepmen) Number 268.K/MB.01/MEM.B/2025, signed on August 8, 2025. This policy revokes ESDM Ministerial Decree Number 72.K/MB.01/MEM.B/2025.ESDM Ministerial Decree Number 72.K/MB.01/MEM.B/2025 regulates the obligations for IUP/IUPK holders in the production operation stage, IUPK holders as a continuation of contract/agreement operations including work contract holders and PKP2B holders, to sell metal minerals and coal produced according to the mineral benchmark price (HPM) or coal benchmark price (HPB).The HPB, calculated using the coal reference price (HBA), serves as the lower limit for coal sales. Similarly, the HPM serves as the lower limit for metal mineral sales.Meanwhile, in ESDM Ministerial Decree Number 268.K/MB.01/MEM.B/2025, a clause was added regarding the provisions for the use of HPM and HPB as a reference for mineral and coal sales transactions.In this new policy, the Ministry of Energy and Mineral Resources provides an exception for all holders of Mining Business Permits (IUP), Special Mining Business Permits (IUPK), Contracts of Work (KK), and Coal Mining Business Work Agreements (PKP2B) selling minerals and coal below the HPM and HPB.The exception applies to mining companies that previously had sales contracts with prices below the HPM or HPB."In the case of IUP holders in the production operation stage, IUPK holders in the production operation stage, and IUPK holders as a continuation of contract/agreement operations, including holders of work contracts and holders of coal mining business work agreements, selling metal minerals or coal based on contracts below the HPM or HPB," reads point four in the policy quoted Friday (22/8/2025).However, mining companies that sell commodities below the HPM or HPB are still required to pay tax and royalty calculations with reference to the HPM and HPB."The HPM and HPB remain used in calculating tax obligations and serve as the base price for imposing production fees (royalties)".In the same regulation, the Ministry of Energy and Mineral Resources explains that the HPM and HPB are the benchmarks for the lower selling price of metal minerals and coal.This minimum price setting prevents undervaluation or transfer pricing practices that could erode potential state revenue.In the decree's appendix, the government details the pricing formula for various types of metal minerals, including nickel, cobalt, copper, gold, bauxite, and coal with various calorie specifications.This policy is a follow-up to mineral and coal mining regulations that mandate transparency in selling prices and certainty in the calculation basis for taxes and production fees.With an official price standard, the state can still collect optimal revenue without relying on price agreements between miners and buyers.

Indonesia’s Largest Tin Smelter to Be Built in Bangka

23 Aug 2025, 01:54 AM 159

The Governor of the Bangka Belitung Islands (Babel) Hidayat Arsani revealed that the largest tin ore processing plant (smelter) in Indonesia will be built in his region.The investment will be made by investors from China, which is in line with President Prabowo Subianto's Astacita to increase the downstreaming of Indonesian export commodities."The investment value for building this smelter reaches IDR 1.5 trillion to IDR 2 trillion, with the products produced being tin solder and tin wire," said Hidayat Arsani in Pangkalpinang, as quoted by Antara , Saturday (23/8).Hidayat revealed that the smelter construction will be carried out by PT Tong Fang, which is owned by Xiao Nai Cheng and Wang Yu Long. PT Tong Fang is a large company from China that specializes in tin downstreaming."If the smelter construction process goes according to schedule, the tin ore processing plant is planned to start operating within the next year," he said.Hidayat, along with the Regent of Central Bangka, Algafry Rahman, discussed the investment plan with investors at a meeting on Friday (22/8) afternoon.The Central Bangka region is a potential location for the downstream tin industry, with a planned capacity of 300 tons per month."This investment will not only boost economic growth but also potentially create new jobs, as 70 percent of the workforce will rely on local human resources," he said.In optimizing the operation of this smelter, the Bangka Belitung Islands Provincial Government will collaborate with PT Timah Tbk as the main supplier of tin ore raw materials for this smelter.On the same occasion, Xiao hoped that the investment by PT Tong Fang would be successful and could absorb a lot of workers with the great support shown by the Governor of the Bangka Belitung Islands."PT Tong Fang has been involved in the downstream sector since 1971 and has expanded to various countries, such as Thailand, Vietnam, Singapore, Turkey, and Mexico, thus having a positive impact on the regional economy," Xiao said through his translator.

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