Merdeka Copper Gold (MDKA) has strengthened the capital of its subsidiary, Pani Bersama Jaya (PBJ), by increasing PBJ's facilities by an additional USD 135 million. With this addition, the total financing amount now stands at USD 260 million, up from the initial USD 125 million.The loan will be utilized by PBJ not only for general corporate purposes but also for capital expenditures, operational needs, and working capital. The loan is subject to a Secured Overnight Financing Rate (SOFR) of 3 months plus a margin of 5.76%.The loan's maturity is set for the 5th year following the initial agreement date. The maturity date is on the 5th business day after the full repayment or settlement of all outstanding amounts under the senior facility agreement.Following this transaction, the company can provide financial support to PBJ. The funds will be utilized by PBJ for various purposes, including general corporate needs, capital expenditures, operations, and working capital.This transaction was carried out with an affiliate due to its efficiency, as Merdeka Gold is the parent company of PBJ. The loan is expected to have a positive impact on the company, ultimately adding value to its shareholders.

PT Delta Dunia Makmur Tbk. ("Delta Dunia Group", IDX: DOID) announced that its subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), has signed a Mining Services Agreement with PT Persada Kapuas Prima (PKP) on August 12, 2024.PKP is a subsidiary of PT Singaraja Putra Tbk (SINI), which holds a coal mining concession in Kapuas Regency, Central Kalimantan Province. Under this agreement, BUMA will perform mining services, including overburden removal and coal mining operations.The mining services agreement will be effective throughout the life of the mine, with the initial phase planned for a nine-year period commencing in the fourth quarter of 2024.The initial phase of the mining services is expected to result in over 359,330,000 bcm of overburden removal and 60,600,000 tons of coal production, with a contract value exceeding IDR 12 trillion or more than USD 755 million.Indra Kanoena, President Director of BUMA, stated, "We are pleased to announce this new contract with PKP, which further strengthens the industry's recognition of BUMA's reputation and expertise in the Indonesian mining sector. The trust placed in us by prominent mine owners not only reflects BUMA and the Group's commitment to fostering strong and sustainable relationships but also underscores our dedication to prioritizing our clients' success."This new agreement serves as a testament to the confidence in BUMA's expertise in providing comprehensive mining services with a holistic approach, including overburden removal, mine planning, mining operations, transportation, and mine rehabilitation.With over 25 years of experience, BUMA has successfully managed complex and challenging mining operations, including those on small islands, resolving high-level technical issues such as seawater seepage management, handling of mud, anticipating and managing geotechnical challenges and tidal waves, and even river stream relocation to minimize environmental impact and achieve optimal operational efficiency.These operational excellences are further supported by the company's commitment to implementing innovative technologies in the mining sector and driving continuous improvement projects."At BUMA, we continuously strengthen the foundation for sustainable growth by exploring strategic opportunities and enhancing mutually beneficial relationships to grow together with our partners. Through a proactive business development strategy, we focus not only on acquiring and renewing contracts but also on creating stable and sustainable revenue streams. This is part of our efforts to continuously improve our service quality while managing operational risks," Indra concluded.

China’s pledge to ramp up its investment in Indonesia’s electric vehicle (EV) industry has become one of the key outcomes of a recent bilateral meeting between both countries’ top diplomats.Foreign Affairs Minister Retno Marsudi headed to Beijing on Friday for the fifth round of the so-called joint commission for bilateral cooperation talks with her Chinese counterpart Wang Yi. China has been among Indonesia’s top foreign investors over the years. As the mineral-rich Indonesia tries to chase its EV dream, it is no surprise that Jakarta will try to convince Beijing to invest more in its e-mobility sector at every chance it gets. Friday’s bilateral meeting was no exception.“China is one of Indonesia’s important partners, including from an economic perspective. Both sides will try to build mutual trust and strengthen our mutually beneficial ties that are based on respect towards multilateralism and international law,” Retno said in a press statement following the meeting.“We have agreed to boost Chinese EV investment in Indonesia to support the development of the EV ecosystem,” Retno said.The EV ecosystem development is part of Indonesia’s plan to capture more value out of its commodities by having its natural resources processed into half-finished and finished goods at home. While China has invested in Indonesia’s domestic processing industry, Jakarta wants the partnership to embrace environmental, social, and governance (ESG) principles.“I underlined the importance of having a quality partnership that pays attention to ESG principles and international standards, including the UN’s Guiding Principles on Business and Human Rights,” Retno said.Just earlier this month, President Joko “Jokowi” Widodo launched a manufacturing plant belonging to Chinese battery material giant BTR in Kendal, Central Java. The facility can produce 80,000 tons of anode materials for lithium-ion batteries every year -- enough to support the manufacturing of 1.5 million EVs. BTR is planning to double the annual production capacity.Government data showed China had invested USD 3.9 billion throughout the S1 2024. China was Indonesia’s second-largest source of foreign direct investment (FDI) over the said period with Singapore topping the list as it invested about USD 8.9 billion.Indonesia also attracted IDR 181.4 trillion (USD 11.6 billion) in investments for the domestic processing industry throughout January-June 2024. About IDR 6 trillion went to the EV battery ecosystem, while IDR 80.9 trillion was related to nickel smelting investment, the government reported.

The Government remains committed to continuing the industrial downstreaming program to increase productivity and added value, President Joko “Jokowi” Widodo has said.The President made the statement in his State of the Nation address on Friday (08/16) at the 2024 Annual Session of the People’s Consultative Assembly and the Joint Session of the House of Representatives and House of Regional Representatives at Nusantara Building, Parliamentary Complex, in Jakarta.President Jokowi pointed out that the program began with the export ban of raw materials, including nickel, bauxite, and copper.“Alhamdulillah, as of now, we have built smelters and processing industries for nickel bauxite and copper with more than 200,000 jobs created and boosting state revenue by more than Rp158 trillion for the past 8 years,” he said, underscoring that the Government will carry on executing the domestic downstreaming program despite obstacles from many countries.“Although many countries sue us, oppose us, and even attempt to thwart us, we as a sovereign nation, as a great nation, remain steadfast and even continue to march forward,” he said.The President expressed hope that with the downstreaming program, Indonesia’s natural resources can benefit the people.“We want the resources in this country, which are endowed by Allah Subhanahu Wa Ta’ala for this country, to be managed to the greatest benefits for the people, to be leveraged fully for the wellbeing of the people,” he said, adding that the Government has successfully reclaimed state assets that had been managed by foreign entities.“We have reclaimed our assets that for decades have been managed by foreign entities, that for decades have been exploited by foreign entities, such as Freeport, the Rokan Block, and Newmont. Alhamdulillah, we managed to reassume control of those assets,” he said.Furthermore, the President stressed that the Government has begun the economic transition to a green economy, as have other countries while pointing out that Indonesia has great potential in that sector, which is estimated to generate 3,600 Gigawatts from hydropower, wind power, solar power, geothermal energy, tidal power, and bioenergy.“We remain consistent in taking part in the global effort of energy transition in a careful and gradual manner. The energy transition that we aim to realize is a just energy transition that is affordable and accessible to the people,” he remarked.

PT Vale Indonesia Tbk (INCO) has revealed its target for the company's nickel plant in Pomalaa, Southeast Sulawesi, to be operational by 2026.The company's President Director, Febriany Eddy, stated that the progress of the construction of the smelter or the nickel refining and processing facility in Pomalaa is expected to reach around 20% by the end of 2024, with the smelter aiming to commence operations in the first quarter of 2026."For the Pomalaa smelter, by the end of this year, it should be around 20%, and we hope to start production in the first quarter of 2026," Febriany shared with CNBC Indonesia in the Mining Zone program, as quoted on Friday (23/8/2024). The Pomalaa nickel smelter is targeted to handle up to 120,000 tons of production.Vale has three significant smelter projects to build: the High Pressure Acid Leach (HPAL) project in Pomalaa, Southeast Sulawesi, the nickel matte smelter project in Sorowako, South Sulawesi, and the ferronickel smelter project in Bahodopi, Central Sulawesi.Vale has previously indicated that the investment required to develop these three smelter projects could reach between USD 8.6 billion to USD 9 billion, equivalent to IDR 143 trillion (assuming an exchange rate of IDR 15,945 per USD).The Pomalaa smelter project is being developed in collaboration with Zhejiang Huayou Cobalt Co., while the Morowali smelter project is a partnership with Shandong Xinhai Technology Co., Ltd (Xinhai). Additionally, the Sorowako smelter project also involves cooperation with Zhejiang Huayou Cobalt Co."Our existing plant in Sorowako has been in operation for quite some time. We are continuously expanding, but we are also embarking on Greenfield Projects, new projects in Bahodopi and Pomalaa. Additionally, there will be another project in Sorowako," Febriany explained.She emphasized that this expansion is driven by the growing demand for nickel in electric vehicle (EV) batteries. The rising demand for nickel to support EV batteries presents a significant opportunity for Indonesia, which is rich in nickel resources.“As a nickel company, PT Vale has recently been granted an extension of its Special Mining Business License (IUPK) by the government, with a substantial land area. We also have a moral responsibility to develop all these projects. Therefore, we will be aggressive in our future growth.”

The Executive Board of Nahdlatul Ulama (PBNU) has announced its readiness to manage a coal mining concession. This follows President Joko Widodo's decision to permit mass organizations to oversee mining operations.PBNU is set to manage a coal mining concession covering 26,000 hectares in East Kalimantan. This initiative will commence after the religious mass organization received a Special Mining Business License (IUPK) from the Ministry of Energy and Mineral Resources (ESDM).PBNU Chairman Yahya Cholil Staquf expressed his appreciation to President Joko Widodo for granting the mining concession to mass organizations, leading to the issuance of the IUPK."We extend our thanks to the President for granting the concession up to the issuance of the IUP, so we are now ready to immediately begin mining operations at the designated location," he stated on Sunday (25/8).Further elaborating, Gus Yahya explained that the mining concession PBNU will manage is part of the former PT Kaltim Prima Coal (KPC) concession, a company under the Bakrie Group. It is noted that only a small portion of this concession area has been explored so far.Gus Yahya indicated that the exact volume of coal production is yet to be determined. However, he confirmed that PBNU plans to commence exploration and exploitation activities by January 2025."Soon. Very soon. Since the IUP has been issued, we hope to start work by January," Gus Yahya added.Previously, President Jokowi signed Government Regulation (PP) No. 25/2024, amending PP No. 96/2021 regarding the implementation of mineral and coal mining business activities.Article 83A of PP No. 25/2024 stipulates that the new regulation allows religious mass organizations such as Nahdlatul Ulama and Muhammadiyah to manage special mining permit areas.

PT Bukit Makmur Mandiri Utama (BUMA) and PT Persada Kapuas Prima (PKP) have entered into a partnership related to mining services management, which includes overburden removal and coal mining.BUMA's President Director, Indra Kanoena, stated that this new contract is not only part of the company's efforts to strengthen its business but also an acknowledgment by the industry of BUMA's reputation and expertise."The trust given by mine owners not only reflects our commitment to building strong and sustainable relationships but also underscores our dedication to prioritizing the success of our clients," he said in a statement on Thursday, August 15, 2024.The agreement is valid for the entire life of the mine (Life of Mine - LOM), with the initial phase planned to last for nine years, beginning in the fourth quarter of 2024.The initial phase of mining operations is expected to result in more than 359,330,000 bank cubic meters (bcm) of overburden removal and 60,600,000 tons of coal, with the contract valued at approximately IDR 12 trillion, or around USD 755 million.Indra added that BUMA continues to strengthen its foundation for sustainable growth through a proactive business development strategy, focusing not only on contract acquisition and renewal but also on creating stable and sustainable revenue streams."With a proactive business development strategy, we are not only focused on acquiring and extending contracts but also on creating stable and sustainable revenue streams. This is part of our ongoing efforts to enhance the quality of our services while managing operational risks," Indra concluded.

PT Petrosea Tbk (PTRO) has announced the acquisition of a mining services contract with PT Pasir Bara Prima (PBP). The contract, valued at approximately IDR 17.4 trillion, was signed on August 9, 2024.Petrosea's Corporate Secretary, Anto Broto, revealed that the contract has a "life of mine" term, meaning it will be in effect for the entire lifespan of the mine. This contract acquisition is part of PTRO's long-term strategy to enhance its operational activities in mining services."It has a positive impact on the company's business continuity and enhances the financial and operational performance of the company," Anto stated in a disclosure on Tuesday, August 13.To recap, PTRO and PBP signed an amendment and restatement of the term sheet for the mining services agreement on July 3, 2024. PBP is a subsidiary of PT Singaraja Putra Tbk (SINI), owned through PT Dwi Daya Swakarya.Meanwhile, PTRO is part of the conglomerate group owned by tycoon Prajogo Pangestu. As of July 31, 2024, PTRO was controlled by PT Kreasi Jasa Persada, which holds a 41.51% stake in the company.PT Kreasi Jasa Persada, in turn, is a subsidiary of PT Petrindo Jaya Kreasi Tbk (CUAN). As of July 31, 2024, Prajogo Pangestu owned 9.56 billion shares, representing an 85.07% ownership in CUAN.By the end of trading on Tuesday, August 13, PTRO's stock price surged by 675 points, or 8.52%, reaching IDR 8,600 per share. Year to date, PTRO's stock price has accumulated a 63.81% increase.

Huayou Indonesia, a nickel processing and refining company, has reaffirmed its commitment to environmental sustainability through the implementation of Environment, Social, and Governance (ESG) practices from the upstream nickel ore preparation to the midstream processing and refining stages.Huayou Indonesia is part of the international industrial and operational integration of Zhejiang Huayou Cobalt.Marvel Hu, Chief Representative of Huayou Indonesia, stated that the company has implemented ESG practices by designing and building high-tech green factories that significantly reduce electricity consumption.He highlighted that this energy saving is achieved by using slurry pipes in every distribution process of nickel ore from the mine to the plant, with the pipes extending up to 65 kilometers. This method is claimed to have lower carbon emissions compared to the conventional distribution method of truck hauling."In line with the company's efforts to reduce carbon emissions, we have also implemented a plant layout that takes advantage of topographical benefits, such as using gravity by designing the plant on high ground, and then channeling production to the midstream processing plant on lower ground, utilizing the most advanced processing technology," Marvel said at the "ESG 2024 Conference: Optimizing ESG to Drive Sustainable Business and Value Creation" event held at the Indonesia Stock Exchange (IDX) on Wednesday, August 14.In addition to establishing environmentally friendly factories, Marvel added that Huayou Indonesia is also committed to contributing to the local community and economy. He claimed that the company continuously participates as part of the community through various community empowerment programs, collaborations with Village-Owned Enterprises (BUMDes), and associations with local businesses around the plant area.According to him, Huayou Indonesia has recruited a public relations team consisting of local talents, ensuring better communication with the community and fostering a sustainable relationship between the company and the local population."In line with our investment principle, 'Wherever we invest, we must contribute to the local economy and community,' we also help empower the community in Konawe, Southeast Sulawesi, by building an agricultural business chain through the Village-Owned Enterprises (BUMDes). This not only creates business opportunities for the local community but also provides the company with a long-term supply of vegetables," Marvel said.On another front, the company has implemented a mangrove planting program around the project area. The plan is to plant approximately 11 hectares of mangrove forest, which is expected to contribute to the environmental conservation of the local community."Going forward, we will establish higher ESG standards in Indonesia by continuously engaging in Research and Development practices to reduce carbon emissions. This aligns with the government's vision for Net Zero Emissions by 2050," Marvel concluded.

The construction of PT Amman Mineral Nusa Tenggara's (AMNT) copper smelter is nearing completion. The project is currently in the commissioning phase, where all industrial plant systems and components are being tested to ensure they meet operational requirements."It's in the finishing stages, and preparations are underway," said Acting Governor of West Nusa Tenggara (NTB) Major General (Ret.) Hassanudin.He expressed hope that the presence of PT AMNT's copper smelter will drive industrial progress and boost the local economy, ultimately leading to greater prosperity for the people of NTB."Hopefully, this smelter will have a significant positive impact on the development of the industry in NTB," he emphasized.Head of the NTB Industry Office, Hj Nuryanti, stated that the smelter's construction progress has reached 95% and is currently undergoing commissioning. The office is also in the process of assisting with the smelter's industrial business license."We hope the license will be issued in time for the inauguration," she said.She explained that the smelter will process natural resources that have traditionally been exported in raw form, thereby increasing the added value of the exported minerals. The smelter will use advanced technology to produce by-products such as gold, silver selenium, sulfur, and sulfuric acid."These are the products that will be produced by PT AMNT," she added.Nuryanti believes this will lead to an increase in the local revenue (PAD) of West Sumbawa Regency and NTB Province, as well as create numerous job opportunities. "This will drive us in NTB to further develop our local workforce," she stated.NTB must prepare itself to become a major player in the mining workforce. To achieve this, all related stakeholders in education need to make necessary adjustments.Nuryanti, confident in the future of the developed manufacturing industry, emphasized that everything will eventually fall into place, with local industries fulfilling all the necessary requirements."The smelter must be accompanied by an industrial zone, where downstream activities will absorb even more labor," she explained.As an example, she mentioned that sulfuric acid can be used as a raw material for other products such as cement, cables, and more.Therefore, the next government task is to establish and manage an official industrial processing zone."We hope that an industrial zone manager will be appointed soon," she added.In addition, it is hoped that NTB's small and medium-sized enterprises (SMEs) will play a role in supplying the workforce's needs on the ground. "We're on the right track here in NTB, focusing on developing our six priority sectors," she concluded.