PT Indo Tambangraya Megah Tbk (ITMG) will channel out cash dividends of USD 238.85 million from its 2021 net profit on April 22, 2022. This plan was given the green light during the Extraordinary General Shareholders Meeting held last week (24/3).In the minutes of meeting quoted today (28/3), Monika Ida Krisnamurti, Corporate Secretary of Indo Tambangraya Megah, explained that the dividend would be distributed to shareholders recorded in the shareholders list by April 5, 2022. It will amount to USD 3,040 per share. “The net profit attributable to the parent entity amounted to USD 475.57 million, the unrestricted retained earnings reached USD 841.27 million, while the total equity clocked up to USD 1.20 billion,” she specified.The shareholders meeting also concluded that the total dividend for the Fiscal Year (FY) 2021 was worth USD 332.92 million in total (USD 4,285 per share). It comprised interim dividend in FY 2021 of USD 9.04 million (USD 1,218 per share), and this upcoming cash dividend for the shareholders of USD 238.85 million.The schedule of the dividend distribution has been set. The cum and ex dividend in the regular and negotiation market were set on April 1 and 4, 2022, while the cum and ex dividend in the cash market follow on April 5 to 6, 2022. Source: https://www.idnfinancials.com/news/42619/itmg-distribute-cash-dividends

PT Samindo Resources Tbk (  MYOH ) recorded a slick performance on the bottom line throughout 2021. Based on the company's annual financial report released last week, this mining service contractor company managed to record a profit attributable to the owner of the parent entity alias net profit of US$ 26.92 million in 2021, up 19.62% compared to the net profit achievement. MYOH in 2020 which amounted to US$ 22.50 million.The profit growth was obtained when MYOH's revenue decreased. It was noted that MYOH's revenue decreased by 7.38% year-on-year (yoy) from US$ 173.47 million in 2020 to US$ 160.66 million in 2021. Head of Investor Relations of MYOH, Ahmad Zaki Natsir, explained that the decline in revenue was due to a reduction in the volume of overburden removal from the original guidelines. Even so, MYOH has a strategy of making a number of efficiency efforts. Some examples of concrete steps such as by suppressing work accidents. “As a result, the use of spare parts can be saved, standby time can also be reduced, so fuel consumption can also be reduced. Then since last year we have also started to reduce maintenance of heavy equipment through third parties, this year we continue to increase the portion of independent maintenance, so maintenance costs to third parties can be reduced, "explained Zaki to Kontan.co.id (25/3).Taking a peek at MYOH's financial statements, MYOH's cost of revenue fell 12.62% yoy to US$ 120.18 million in 2021. Previously, MYOH's cost of revenue reached US$ 137.54 million in 2020. Meanwhile, general and administrative costs as well as MYOH's financial costs rose steadily. It was noted that MYOH general and administrative expenses rose by 5.20% yoy from US$ 7.55 million in 2020 to US% 7.95 million in 2021. Meanwhile, MYOH's finance costs rose 14.15% yoy from US$ $39,333 in 2020 to $44,902 in 2021.Zaki said, MYOH is optimistic that the coal industry as a whole has good prospects in 2022. MYOH is of the view that energy transformation towards new and renewable energy (EBT) still takes time, so that countries experiencing an energy crisis will eventually still use coal. On the other hand, MYOH also sees that the war conflict between Russia and Ukraine and the lack of gas supply to allied countries of the United States (US) have the potential to increase the use of steam power plants (PLTU).In 2022, MYOH is pursuing an overburden removal target of 38 million bank cubic meters (bcm), a coal getting target of 8.5 million tons, and a coal hauling target of 27 million tons. As a comparison, in 2021, MYOH recorded overburden removal realization of 36.9 million bcm, coal getting 11.3 million tons, and coal hauling 27.8 million tons. In terms of financial performance, MYOH is aiming for a revenue target of US$ 155.7 million and a net profit target of US$ 22.8 million in 2022. Zaki said, MYOH considered several things in launching this financial target."In terms of income, there are indeed several things that need to be considered, the amount of volume is not automatically reflected in financial performance. The reason is that there are several external factors that cannot be controlled, such as the distance from the disposal site, the distance from which it affects income in terms of distance compensation, then the Rupiah exchange rate also has an effect, so we relatively set it conservatively, to be more realistic in its implementation, "explained Zaki.Source: https://industri.kontan.co.id/news/samindo-resources-myoh-bidik-pendapatan-us-1557-juta-pada-2022

Far East Gold (FEG) officially listed its initial shares on the Australian Stock Exchange (ASX) today, Monday (28/3/2022). One of the company's focuses is to acquire 3 gold mines in Indonesia. Based on the initial public offering (IPO) prospectus, FEG issued 60 million new shares at a price of 0.20 Australian dollars per share.Thus, the company pocketed fresh funds of around 12 million Australian dollars from this IPO. FEG Chairman Paul Walker said the company had obtained commercial rights for the acquisition, exploration and development of three mining projects located in the Drummond Basin and Connors Arc areas, Queensland, Australia. Then there are 3 projects in Indonesia, namely the Woyla gold mine in Aceh, Trenggalek in East Java and Wonogiri in Central Java.“Indonesia presents attractive opportunities for mining companies in general and Far East Gold in particular. Indonesia is growing rapidly in its wealth of natural and human resources,” he explained in the prospectus. According to him, Indonesia's large mineral reserves and relatively low operating costs are one of the world's biggest contributors to the global mining sector. Indonesia is currently the 6th and 12th largest gold producer in the world The Drummond Basin and Connors Arc are well-established locations for gold exploration and operations in Queensland. The Drummond Basin has historically produced over 4.5 million ounces of gold and has total known gold reserves of over 7.5 million ounces of gold.As for the 3 gold mines in Indonesia, the following data is presented by FEG in its prospectus:1. Woyla Gold Project 6th generation works contract covering an area of ​​24,260 ha in Aceh, North Sumatra, Indonesia. Far East Gold believes that this project is one of the most prospective pure copper gold projects in Southeast Asia. Far East Gold has secured the rights to acquire an 80 percent participating interest in the project.2. Trenggalek Gold Project Project with IUP OP (Operation and Production Mining Permit) covering an area of ​​12,813 ha in East Java, Indonesia. This project  is a follow-up project that has completed more than 17,700m of drilling and houses several large-scale porphyry and epithermal prospects. Far East Gold has secured the rights to acquire a 100 percent participating interest in the project.3. Wonogiri Gold Project Project with 3,928 ha IUP Exp (Mining Permit for Exploration) in Central Java, Indonesia. This follow-on project has a 2012 JORC resource estimate which, using a grade of 0.2 g/t AuEq, contains 81.56 million tonnes at 0.44 g/t AuEq (0.38 g/t gold and 0.11 percent copper ).This represents 996,500 ounces of gold and 190 million pounds of copper, or 1.15 million ounces of AuEq. At the 0.5g/t AuEq cut-off the estimated total resource contained is 20.95 million tonnes at 0.85 g/t Au and 0.16 per cent copper, representing 573,000 ounces of AuEq consisting of 533,000 ounces of gold and 74 million pounds copper. Far East Gold has secured the rights to acquire a 100 percent participating interest in the project .Citing Financial Review , Far East Gold is backed by executives who have decades of experience in a relationship-based approach to succeeding in Indonesia. One of Far East Gold 's IPO investors is Michaelangelo Moran, one of the founders of unicorn GoJek . Not to forget, an investment company from the United States, Price Street Capital also bought the IPO of Far East Gold. Prince Street founder David Halpert lives in Singapore and has close connections in Indonesia.Source: https://market.bisnis.com/read/20220328/192/1515731/far-east-gold-dari-australia-caplok-tambang-emas-woyla-trenggalek-dan-wonogiri

The Indonesian Coal and Energy Suppliers Association (Aspebindo) assesses that the option to increase the domestic market obligation (DMO) does not necessarily solve the problem of domestic coal supply. Secretary General of Aspebindo, Muhammad Arif said, the problem of domestic coal supply actually stems from problems in the trade system and the difference in the price of DMO coal with coal prices in the global market which is too large."The price of DMO (coal for) electricity still cannot compete with market conditions outside so that an increase in DMO from 25% to 30% will not necessarily solve the problem if there is no formula for the DMO price for electricity that can be developed to follow the increase in market prices or supporting infrastructure in the country. other coal," said Arif to Kontan.co.id (27/3).As is known, the current regulation, namely the Decree of the Minister of Energy and Mineral Resources (ESDM) Number 139 of 2021 concerning the Fulfillment of Domestic Coal Needs requires the holder of a Mining Business Permit for the Coal Production Operation stage, a Special Mining Business Permit for the Coal Production Operation stage, Coal Mining Concession Work in Production Operation stage, and Special Mining Business Permit as Continuation of Contract/Agreement Operation to fulfill DMO of 25% of production. For the electricity sector, the selling price of coal for the provision of electricity for public purposes is set at US$ 70 metric tons.The discourse to increase the DMO of coal from 25% to 30% was revealed by the Minister of Energy and Mineral Resources (ESDM), Arifin Tasrif last week in Yogyakarta (25/3). Kontan.co.id noted, Arifin said that the ESDM Ministry was reviewing the adjustment options. Later, if it is implemented, the policy of increasing the DMO portion of coal will be stated in the form of a ministerial regulation. In his meeting with the media crew at that time, Arifin said that the DMO price of coal for the electricity sector was still set at US$ 70 per ton.Muhammad Arif said that the government's intention to increase the portion of DMO in order to maintain supply certainty is understandable. Even so, he assessed, the option to increase the DMO portion to 30% will only be effective if it is accompanied by a DMO price formula policy that can offset the increase in coal prices in the global market.Arif reasoned, costs such as the cost of supporting infrastructure, fuel, truck costs, and ports usually also increase following the coal market price. For this reason, Arif considered that the existence of an autonomous body such as the Public Service Agency (BLU) was needed to formulate the right DMO price formulation. "In my opinion, schemes such as BLU or other autonomous agency schemes to regulate commercial or electricity DMO prices need to be pushed together with DMO increases," said Arif.In her interview with Kontan.co.id last Friday (18/3), the Director of Coal Business Development at the Ministry of Energy and Mineral Resources, Lana Saria, revealed that the option for implementing the BLU scheme is still under discussion. "Still in the study rate," he told Kontan.co.id (18/3).A little information, this year, the Ministry of Energy and Mineral Resources has launched a coal production plan of 663 million tons. From the production plan, the government set a coal DMO plan of 166 million tons. A total of 130 million tons of which are for the electricity sector. Until the end of February 2022, the realization of DMO fulfillment in total (electricity and non-electricity) reached 25.88 million tons."(DMO realization until February 2022) is in line with the 166 million ton plan," said Lana.Source: https://industri.kontan.co.id/news/aspebindo-kenaikan-dmo-jadi-30-belum-tentu-selesaikan-persoalan-pasokan-domestik

The Mempawah, West Kalimantan Smelter Grade Alumina Refinery (SGAR) project owned by PT Inalum and PT Aneka Tambang Tbk (Antam) is projected to experience a delayed operation schedule. The project with a capacity of 1 million tons was originally targeted for completion in July 2023. The calculation dispute between the project contractor's EPC makes the project implementation not run optimally. Just so you know, the SGAR Project is managed by PT Borneo Alumina Indonesia (PT BAI) which is owned by PT Inalum (Persero) with 60% shares and ANTAM with 40% shares.President Director of PT BAI Dante Sinaga said, referring to the existing plan, the project should have reached 71.73%. Unfortunately, until now, the project with an investment of US$ 831.5 million has only reached 13.78%."This is mainly due to the very late progress of procurement . Procurement is 47.75% late," said Dante in an RDP with Commission VII DPR RI, Monday (21/3).Dante said that the delay in procurement work had an impact on other stages. In addition, there are two main factors that have also contributed to the delay in the Mempawah SGAR project. Dante said that there were still disputes between EPC contractors. The absence of an agreement reached for the internal consortium agreement is recognized as an obstacle.Meanwhile, the EPC contractor for this project is a state-owned company from China, China Aluminum International Engineering Corporation Ltd (Chalieco) together with PT Pembangunan Perumahan Tbk (PTPP). The second factor is related to the work and location for red mud for the B3 waste treatment plant from the smelter. "So these two things (causes) but the biggest one is the dispute between the consortium," said Dante. Dante also confirmed that mediation efforts have been carried out but so far no agreement has been reached.PTPP EPC Operations Director Eddy Herman Harun revealed that there was still a difference in the calculation of values ​​for several works between PTPP and Chalieco. Eddy explained, based on the scope of work, PTPP was in charge of civil work and the rest by Chalieco."We can't work alone because the data has to come from Chalieco. We can't make it up, it's too late to reach us and we haven't even provided all of the data facilities to us," said Eddy. Eddy continued, based on the consortium contract, the unit price has been agreed for the construction covering 2,628 items . Of these, 2,297 items are unit ptices and the rest are lump sum items .For item prices , the initial contract value reached Rp 2.77 trillion. Later there was a difference in calculations for the work and prices between the two consortium members. This delay is recognized as having the potential to make the project have to be pushed back from the schedule."If the T&C is like this, the project will definitely be pushed back, if it's finished it will be finished, but it's time for it to be postponed," said Dante, unfortunately he couldn't provide further projections. For your information, this project is expected to be able to process bauxite from PT Antam for further delivery to the Inalum Smelter. The presence of this project is also expected to reduce the number of alumina imports.Source: https://industri.kontan.co.id/news/epc-kontraktor-tidak-akur-smelter-alumina-inalum-antam-terhambat

PT Aneka Tambang Tbk (ANTM) purchased electric power supply from PT Perusahaan Listrik Negara (PLN) to run the Haltim ferronickel smelting facility in North Maluku. This sale and purchase agreement was signed yesterday (14/3) and will take effect for 30 years since the facility is officially operated.Nico Kanter, President Director of ANTM, claimed that this sale and purchase agreement is an extension of the previous head of agreement regarding the electric power supply for the Haltim ferronickel smelting plant, signed on February 10, 2022. “The said contract is linked to the speedy completion of the Haltim ferronickel smelter construction. The synergy with PLN will run efficiently and optimally to meet the operational target of the smelter,” he explained in the press release quoted Monday (21/3).According to Kanter, the construction of the said nickel ore smelting plant had reached 98.18% in December 2021. This facility has a capacity of 13,500 tons of nickels in ferronickels (TNi). Next, the installed production capacity of ANTM will rise to 40,500 TNi. (LK/ZH)Source: https://www.idnfinancials.com/news/42547/running-haltim-ferronickel-smelter-antm-channels-power-pln

PT Kapuas Prima Coal Tbk ( ZINC ), a listed base metal producer in Indonesia, seizes a positive opportunity from the increase in commodity prices that has continued to occur since the last one year. ZINC sees the current commodity prices, as well as the increasing demand for iron ore commodities, as well as base metals, especially for lead and zinc concentrates from various countries, will also boost the company's performance at the end of this year. As a result, ZINC also targets revenues in 2022 to reach Rp 1.2 trillionZINC Director Evelyne Kioe said that by the end of 2021, his party had projected that the company's performance this year would increase. "Now the consequences of the conflict in Europe have caused a number of commodity prices to increase, including those we mine. This can indeed provide the potential for increases," he said, Monday (21/3).Evelyne emphasized that despite this opportunity, ZINC will continue to focus on implementing Good Mining Practice in maintaining performance and pursuing the completion of the smelter construction. In addition, ZINC also continues to run sustainability programs for CSR.One of ZINC's commodities which is targeted to increase sales contribution this year is iron ore. With the price of iron ore currently in the range of US$ 145-US$ 155 per tonne (Fe content of 62%). This year, ZINC targets to sell around 180,000 tons of iron ore, with a target revenue contribution from iron ore of US$ 18 million to US$ 20 million, an increase of about 45% compared to the contribution in the previous year.As is known, ZINC has mineral reserves of iron ore reaching 23 million tons which have not been exploited. With rising prices and stable demand, the company will intensify iron ore mining on a large scale to target sales to the domestic market. In addition to iron ore, this year ZINC will also intensify production and sales of lead (Pb) and zinc (Zn) concentrates. With ZINC's total exploration area reaching around 1,600 Ha of the company's total mining area of ​​5,569 Ha, ZINC will continue to increase production capacity with a target of reaching 550,000 tons to 642,000 tons of ore.From ZINC's monitoring, the prices of lead (Pb) and silver currently tend to be stable compared to the previous year, while for zinc (Zn) the prices have experienced a significant increase. If the commodity price can stay in the range of US$ 3,500 per tonne, it can make an additional contribution to profit. However, if commodity prices continue to fluctuate, it can have an impact on production costs.Source: https://industri.kontan.co.id/news/kapuas-prima-coal-zinc-pacu-penjualan-di-tengah-reli-harga-komoditas

The Indonesian Coal Mining Association (APBI) ensures that efforts to fulfill domestic coal are continuously carried out. "The members have been committed from the beginning to carry out the sales contract to PLN," said APBI Executive Director Hendra Sinadia to Kontan, Sunday (20/3). Hendra continued, based on previous information, the supply of coal to PLN was said to be in a safe level.Previously, PLN President Director Darmawan Prasodjo asserted, according to the direction of the Minister of Energy and Mineral Resources and the Minister of SOEs, PLN has fixed the mechanism for supplying coal needs by entering into long-term contracts with monitoring obligations to fulfill domestic needs or domestic market obligations ( DMO ) which are monitored digitally and integrated. with a database system at the Ministry of Energy and Mineral Resources as a regulator in coal mining.“The changes to the digital-based contract system that we manage now have anticipated the fluctuating conditions of coal prices in the international market, so that coal availability remains secure. The average generator stock is above 15 days of operation (HOP)," he said. Darmawan added that the government's policies and the support of the DPR through Commission VI and Commission VII which still set a coal DMO price of US$ 70 per metric ton (MT) also greatly helped PLN to secure coal supply in the midst of price spikes.Systemically, PLN has made a paradigm shift in monitoring and controlling coal supply, which initially focused on monitoring the estimated time of arrival (ETA) unloading point to focusing on the loading point .This monitoring step, continued Darmawan, was not only done physically in the field but also through the integration of a digital monitoring system between the PLN system and the system at the Directorate General of Coal Minerals (DG Minerba) of the Ministry of Energy and Mineral Resources. This system provides information on loading targets which is integrated with the system at the Directorate General of Mineral and Coal which records the loading realization from each supplier."We together with the Ministry of Energy and Mineral Resources carry out day to day enforcement to suppliers to ensure that each planned shipment can be loaded according to plan. If there is a loading failure , the integrated system between PLN and the Directorate General of Mineral and Coal will immediately lock so that it will not allow the supplier to export," said Dharmawan.Darmawan added, PLN also continues to increase cooperation and collaboration with ship entrepreneurs through INSA (Indonesian National Shipowners Association). This step is carried out intensely to ensure the realization of coal supply including assignments from the Ministry of Energy and Mineral Resources can be carried out and delivered according to the required schedule.Source: https://industri.kontan.co.id/news/pelaku-usaha-pastikan-komitmen-pemenuhan-dmo-batubara

South Korea's Hyundai has launched the first electric car assembly plant in Indonesia, as the Southeast Asian archipelago looks to exploit an abundance of resources used in EV production. Indonesia is the world's largest nickel producer and also rich in cobalt, bauxite and copper ores, key materials in the manufacture of batteries for electric cars.President Joko Widodo has said his government is aiming to establish an integrated EV "ecosystem" ranging from metals mining to battery production and car assembly. The Hyundai factory will produce the firm's newest model the IONIQ 5, with an annual capacity of 250,000 vehicles."I hope Hyundai's IONIQ 5 will become an important milestone in the development of Indonesia's electric vehicle ecosystem," Widodo said during an inauguration ceremony Wednesday in the industrial township Cikarang, east of the capital Jakarta."Moving forward, electric vehicles should be the main mode of transportation," he added.The country is targeting production of two million electric vehicles by 2025, both cars and motorcycles. The push to electric transportation is part of Indonesia's aim to achieve zero net emissions by 2060. To aid the development of the industry the government has lifted import duties on EV parts."We have to be a key player in the global supply chain of the electric vehicle industry," Widodo said.Hyundai said in a statement it would also build a network of charging stations and a battery production plant in collaboration with fellow South Korean electronics multinational LG.Source: https://www.france24.com/en/live-news/20220317-indonesia-begins-electric-car-production-with-hyundai-plant

For the first time in mining history, trucks equipped with Cat® MineStar™ Command for hauling have autonomously moved more than 1 billion tonnes of material in less than a year. Roughly 1.2 billion tonnes (1.3 billion tons) were autonomously hauled in 2021 using Command for hauling. In total, Command for hauling trucks have autonomously and safely hauled more than 4 billion tonnes (4.4 billion tons) of material since 2013. To date, trucks equipped with Caterpillar’s autonomous haulage system (AHS) have travelled more than 147 million km (91.3 million miles) with zero loss-time injuries, nearly the same distance as traveling from the Earth to the sunn.“Safety and sustainability continue to be top values in the mining industry. We are now entering our ninth year with zero loss-time injuries with Command for hauling, a testament to its safety record,” comments Marc Cameron, Vice President, Caterpillar Resource Industries. “A recent five-year study by one of our customers autonomously hauling iron ore reported an 11% reduction in fuel usage – resulting in a 4,300 tonne-per-year (4,740 TPY) CO2 emissions reduction – 11% increase in hourly production, 50% higher maximum truck travel speed, and 35% improved tyre life.”Autonomous trucks equipped with Command for hauling are operating at 18 mine sites by 10 companies across three continents. Commodities autonomously hauled include iron ore, oil sands, copper, coal and gold. Spanning the 190- to 360 t (210- to 400-ton) class sizes, the portfolio of Cat mining trucks capable of fully autonomous operation include the 789D, 793D, 793F, 797F and 794 AC with electric drive. Retrofit kits allow mining operations to expand Command for hauling to existing Cat mining trucks as well as other brands of trucks and loading equipment in their fleet.“We continue to explore new avenues with Command for hauling to make strides toward the fully autonomous mine site and recently surpassed a major milestone of more than 500 autonomous trucks. Our previously announced collaboration with Newmont will introduce up to 16 autonomous trucks through 2023 at the company’s Cripple Creek and Victor mine in Colorado with plans to transition to haulage fleet electrification, supporting Newmont’s target of reducing greenhouse gas (GHG) emissions by more than 30%,” says Sean McGinnis, General Manager for Cat Mining. “We currently have in progress high-altitude and new product introduction projects for the smaller 89-tonne (98.4-ton) size class. We have also expanded our Command system to Cat water trucks for haul road dust control at the mine.”The Command hardware and technology is currently deployed on the Cat 789D autonomous water truck (AWT) at Rio Tinto’s Gudai-Darri mine in Australia, the world’s first AWT. Connected with Cat MineStar technology, Command for hauling on the 789D integrates the truck, tank and water delivery system (WDS). The Cat WDS delivers variable waterflow based on truck speed, and the system’s variable displacement pump automatically starts and stops when the truck slows or comes to a halt, preventing overwatering and poor traction at intersections.Source: https://im-mining.com/2022/03/16/caterpillar-autonomously-hauls-more-than-1-billion-tonnes-of-material-with-cat-command-for-hauling-in-less-than-a-year/