PT Glory Metal Indonesia (GMI), a stainless steel producer, has officially established its presence in the PT Indonesia Morowali Industrial Park (IMIP). The company, which boasts an annual production capacity of 1.2 million tons of stainless steel, is a joint venture between Tsingshan and Jindal Group, one of India's largest steel producers. PT GMI occupies an area of 150,000 square meters within the IMIP area, with a total investment of USD 180 million."This cooperation is expected to strengthen further, leading to increased investment and job creation in Indonesia, thereby accelerating regional economic growth and prosperity," said Xiang Guangda, Chairman of the Board of Directors of Tsingshan Holding Group, during the groundbreaking ceremony in early August.Guangda emphasized that the project is set to commence production soon, aiming to reach full production capacity and even exceed it.PT GMI will be equipped with two 150-ton Argon Oxygen Decarburization (AOD) furnaces, one 150-ton Ladle furnace, and one 1600 mm Continuous Casting Machine (CCM), adopting the advanced Rotary Kiln Electric Furnace (RKEF) + AOD technology. The ferronickel required for production will be supplied by nearby ferronickel plants within the IMIP area, and all materials will be delivered hot to achieve efficient heat energy recycling.Meanwhile, Tarun Khulbe, President of Jindal Stainless Limited, stated that the groundbreaking ceremony for this stainless steel smelting plant marks a significant milestone in the cooperative relationship that has been built since 2019."This journey has been anything but ordinary. It is a story of trust, friendship, and mutual growth along the way," said Khulbe.The groundbreaking ceremony for PT GMI was attended by several key company figures, including Irsan Widjaja, Director of Operations at PT IMIP; Xiang Guangda, Founder and Chairman of Tsingshan Holding Group; Xiang Binghe, Chairman of Eternal Tsingshan Group; and Mr. Wu, CEO of Eternal Tsingshan.

PT Aneka Tambang Tbk. (ANTM), also known as Antam, is set to increase its bauxite ore production next month in line with the commissioning plan for the Phase I Smelter Grade Alumina Refinery (SGAR) project in Mempawah, West Kalimantan.Antam's Corporate Secretary, Syarif Faisal Alkadrie, stated that the company will ramp up bauxite ore production capacity to supply raw materials to the alumina plant."In relation to the SGAR commissioning plan this year, the company will indeed increase bauxite ore production capacity to meet the supply needs of the SGAR plant," Syarif confirmed on Wednesday, August 14, 2024.The bauxite refining plant project is a joint venture between Inalum, which holds 60% of the shares, and PT Aneka Tambang Tbk. (ANTM), which holds the remaining 40%.SGAR Mempawah Phase I, with an investment value of USD 831.5 million, is expected to add 1 million tons of smelter-grade alumina (SGA) production capacity, with upstream bauxite absorption capacity of 3 million tons. Full commercial operations are targeted for February 2025.During the commissioning phase, the target alumina production is set at 60,000 tons, with bauxite requirements ranging from 250,000 to 270,000 tons.However, Faisal clarified that the sales of alumina products produced from SGAR Mempawah will not be consolidated into Antam's sales performance."Since the SGAR plant is managed by an affiliate company, Antam will benefit as a shareholder," he explained.As previously reported, the commissioning of SGAR Mempawah is seen as a positive catalyst that could enhance Antam's financial and operational performance in the second half of 2024 and the following year.The bauxite-to-alumina refining plant is scheduled to begin commissioning in September 2024, with the commercial operation date (COD) set for February 2025."This could lead to improved performance in Antam's bauxite and alumina segments in the second half of 2024, especially given the substantial capacity," said Miftahul Khaer, an analyst at Kiwoom Sekuritas Indonesia, during an interview with Bisnis on Monday, August 12, 2024.Kiwoom Sekuritas Indonesia has recommended a "buy" for ANTM shares, with a target price of IDR 1,330 per share.In terms of financial performance, Antam recorded a decrease in net profit attributable to the owners of the parent entity, amounting to IDR 1.55 trillion in the first half of 2024. This profit is 17.95% lower compared to IDR 1.88 trillion in the first half of 2023.Despite this, the diversified mineral company recorded a 7.05% year-on-year increase in total sales, rising from IDR 21.66 trillion to IDR 23.18 trillion in the first half of 2024.Antam's sales were primarily driven by gold products amounting to IDR 18.82 trillion, nickel ore at IDR 1.9 trillion, ferronickel at IDR 1.52 trillion, alumina at IDR 724.94 billion, and silver at IDR 34.80 billion. Additionally, revenue from precious metal refining services totaled IDR 98.18 billion.

A study highlights that the demand for copper and nickel is expected to increase by 50-70% by 2030. Meanwhile, the International Energy Agency (IEA) reports that achieving carbon neutrality by 2050 will require 35 million tons of green minerals annually.Indonesia faces significant challenges in meeting this demand while simultaneously reducing its carbon footprint. The Ministry of Energy and Mineral Resources (ESDM) continues to support emission reduction targets by encouraging mining companies to implement decarbonization activities in their operations. This includes the development and application of environmentally friendly technologies that can mitigate the environmental impact of mining activities.The Ministry of Environment and Forestry (KLHK) also plays a crucial role by focusing on emission monitoring and the implementation of stricter sustainability standards. The tightening of environmental regulations and the growing global awareness of climate change are prompting mining companies to transform, in line with government policies on energy transition.In this context, Eramet, a global mining and metallurgy company from France, has committed to reducing carbon emissions by 40% by 2035 and achieving carbon neutrality by 2050. Decarbonization is one of Eramet's top priorities across all its global operations.Novi Gusman, Sustainable and Permitting Expert at Eramet Indonesia, revealed that Eramet focuses on implementing smart mining as part of the "Act for Positive Mining" initiative. For Eramet, smart mining and sustainability are two complementary aspects. "Through our CSR roadmap, we are committed to integrating operational performance with positive contributions to society and the environment," said Novi.Eramet's CSR roadmap, known as "Act for Positive Mining," focuses on sustainability in three key areas: People, Nature, and Value Chain. Additionally, Eramet has implemented innovative technologies through its Research and Development (R&D) team, including the use of Integrated Remote Operation Centers (IROCs) and drones in exploration. These innovations aim to minimize carbon emissions and reduce energy consumption.Eramet also demonstrates its commitment to responsible mining in line with international sustainability standards, specifically the International Responsible Mining Assurance (IRMA). "IRMA emphasizes transparency and accountability through a multi-stakeholder approach, involving more than 100 entities, from mining companies to local communities. The rigorous audit process is conducted through self-assessment and by third parties," explained Novi.Decarbonization is crucial in the mining industry to support energy transition, particularly for the electric vehicle (EV) battery industry. With IRMA standards and the implementation of smart mining, Eramet continues to strive to meet global mineral needs while ensuring that the Company's operations support sustainability and environmental responsibility.

PT Bumi Resources Minerals Tbk (BRMS) has announced the Supreme Court (MA) ruling regarding the Environmental Feasibility and Forestry Decision for its subsidiary, PT Dairi Prima Mineral (PT DPM), which operates a zinc, lead, and silver mine.In the ruling, the Supreme Court granted the cassation request from the plaintiff residents. However, PT DPM remains committed to continuing its business activities in compliance with existing permits.Muhammad Sulthon, Director and Corporate Secretary of Bumi Resources Minerals, stated that PT Dairi Prima Mineral (DPM) respects the Supreme Court's decision. Nevertheless, PT DPM intends to pursue extraordinary legal measures, such as filing for a judicial review (PK) of the State Administrative Court (PTUN) case at the Supreme Court and exploring other legal options. This decision is based on evidence showing that the local community around the PT DPM mine site in Longkotan Village has expressed full support for the mine's construction and has requested that PT DPM's operations commence as soon as possible.This stands in contrast to the claims made by the plaintiffs, who are residents of the surrounding areas, opposing PT DPM's operations. The plaintiffs include four residents from Bongkaras Village, six from Pandiangan Village, and one from Lae Panginuman Village."Bongkaras Village is part of the PT DPM mine's surrounding area, while Pandiangan and Lae Panginuman Villages are not within the PT DPM mine's immediate vicinity. The plaintiffs were assisted in filing their lawsuit by YDPK, Bakumsu, Petrasa, and a foreign NGO, Inclusive Development International," said Muhammad Sulthon, as quoted from the Indonesia Stock Exchange (IDX) disclosure on Saturday, August 17, 2024.He noted that a new study on the PT DPM mine indicated that the planned waste treatment facilities would prioritize environmentally friendly aspects.He emphasized that PT DPM would prioritize environmental conservation and the safety of Dairi residents around the mine site in its operations, in accordance with applicable laws and regulations. He further mentioned that as of this disclosure, PT DPM had not yet received the official copy of the Supreme Court's ruling."In principle, PT DPM will continue to take the necessary steps to ensure that the DPM project operates in accordance with the relevant permits," he concluded.

Industry players in the mining sector have high hopes for the newly appointed Minister of Energy and Mineral Resources (ESDM), Bahlil Lahadalia, who took over from Arifin Tasrif on Monday, August 19, 2024.Hendra Sinadia, Executive Director of the Indonesia Mining Association (IMA), noted that the new ESDM minister has a lot of responsibilities in the energy sector in a short period. However, he believes that Bahlil will focus on strategic projects in the mineral sector."Given the short time, it seems that the new Minister will focus on ensuring that national strategic projects, particularly in mineral downstreaming, are well-executed and on improving governance to attract investment," Hendra told Bisnis on Monday, August 19, 2024.He is optimistic that Bahlil's extensive experience and knowledge from his tenure as Minister of Investment/Head of BKPM will be invaluable in addressing the issues and challenges faced by both the government and industry players.As such, Hendra is confident that Bahlil can overcome obstacles to expedite the realization of investments in mineral downstreaming projects. In his new role, Bahlil is expected to take the necessary strategic steps.On the other hand, Gita Mahyarani, Executive Director of the Indonesian Coal Mining Association (APBI), expressed hope that the new ESDM minister would address several pending tasks in the mineral downstreaming sector during his brief term."Considering the limited time or term in office, the focus might be more on completing unfinished tasks, especially since we will soon see how the new government's policies unfold in October," she said in a separate interview.Gita also highlighted the importance of clarifying the role of the Managing Institution Partners (MIP) needed to ensure a fair and adequate domestic coal supply."The mineral downstreaming projects are currently in the feasibility study phase, so we need to monitor their progress," she explained.Previously, former ESDM Minister Arifin Tasrif mentioned that there is still significant potential in mineral downstreaming that can be leveraged, including nickel, copper, aluminum, and tin. These commodities need to be optimized to their fullest potential."Nickel, because we are one of the largest nickel export producers in the world. Then copper and aluminum for infrastructure, electricity, and other needs, as well as tin," he said.

BUMN Mining Industry Holding MIND ID ensures mining operations help maintain biodiversity to restore post-mining ecosystem functions while having a positive impact on the environment."The MIND ID Group ensures mining operations also maintain biodiversity in the vicinity," said Corporate Secretary of MIND ID Heri Yusuf, Monday, August 12.Heri said that mining activities that MIND ID did not only continue, but also had a positive impact on the environment and the surrounding community.Heri said that mining operational areas, which are often located in forest areas and green open areas, demand that companies manage biodiversity, both flora and fauna, around them.This step was also carried out by PT Aneka Tambang Tbk (ANTAM) which has the Protected Forest Conservation program of Bukit Belungai, West Kalimantan covering an area of 4 hectares. This program includes the conservation of 32 types of flora and 64 types of fauna, including Kalimantan endemic herpetofauna to protect rare species in the region.Then, PT Bukit Asam Tbk (PTBA) has an orchid conservation program covering an area of 2.1 hectares in South Sumatra. With a capacity of 500 thousand orchid stems, this conservation program includes various orchid rescue processes ranging from location identification, inventory and type identification, to planting and multiplying of flowers with tissue culture."This conservation program has 80 types of orchids intended to supply reclamation needs, meet external demand, and rehabilitate Watersheds (DAS)," he said.Meanwhile, PT Indonesia Asahan Aluminum (Inalum) has also carried out conservation activities around Lake Toba by planting 732,265 trees in an area of 1,409.63 hectares during the 2015-2022 period.In 2022, Inalum will add 308,148 trees through various conservation programs as part of full support for government programs to make Lake Toba a Super Priority Tourism Destination.Meanwhile, the biodiversity program carried out by PT Timah Tbk was carried out through sea rehabilitation in the Bangka area."Because it is carried out in water areas, this rehabilitation activity includes the construction of fish protection sites, coral transplants to restore damaged coral reefs, mangrove planting, sea water quality monitoring, and restocking squid and mangrove crabs," he said.Meanwhile, PT Vale Indonesia Tbk (VALE) developed Sawerigading Wallacea Park (Taman Kehati Sawerigading Wallacea) or a conservation area in East Luwu Regency, South Sulawesi.Equipped with various complete facilities, he continued, the area includes conservation sites for butterflys, deer breeding, 700 tree seedlings per year, and arboretum for collections of 70 tree species and mining parks, to display old mining equipment.

PT Mifa Bersaudara has successfully provided a clean water solution for the community surrounding its mining operations by constructing a borehole well and a water storage tower in Gampong Bukit Jaya, West Aceh (Monday, August 5, 2024).This initiative aims to provide access to clean water for the villagers who have long struggled to secure an adequate and safe water supply.The company hopes that with the installation of the borehole well and water storage tower, the residents of Gampong Bukit Jaya will experience significant benefits and face fewer difficulties in accessing clean water.Khairul Anwar, the Geuchik (village head) of Gampong Bukit Jaya, expressed his gratitude to PT Mifa Bersaudara for their attention and assistance to the village. He noted that the facility greatly helps address the clean water issues that have been a major challenge for the residents."We are very grateful and thankful to PT Mifa Bersaudara for building the borehole well and water storage tower in our village. Now, the residents can access clean and healthy water more easily, which will improve their overall quality of life," said Khairul.The borehole well and water storage tower project was symbolically handed over by the company's management, represented by PT Mifa Bersaudara's Division Head of CSR, T. Kaddhafi Al Munir, accompanied by the company's public relations team. The project was received by village officials and local community members.

Harita Nickel is actively pursuing certification from the Initiative for Responsible Mining Assurance (IRMA) to facilitate the marketing of its nickel products in the European market.Roy Arman Arfandy, the President Director of Harita Nickel, stated that IRMA is a highly reputable institution that can verify every aspect of the mining process end-to-end.Roy expressed hope that Harita will obtain certification from IRMA, allowing Western buyers to feel more comfortable and confident in the company's mining products."They will be able to trace the source of the raw materials and ensure that they are processed correctly," he said during the Sustainability Action for the Future Economy (SAFE) 2024 event hosted by Katadata at the Grand Ballroom of the Hotel Kempinski on Thursday, August 8.He noted that expanding Harita's nickel market to Europe is part of an effort to counter the Western perception of Indonesia's so-called "dirty nickel."Roy emphasized that IRMA certification is a key demonstration of Harita's strong commitment to ESG principles, including the impacts resulting from its mining activities.In addition to seeking IRMA certification, Roy mentioned that Harita undergoes annual audits from various parties on Obi Island, where its mining concessions are located, to review the mining processes."With IRMA certification, these auditors will be more comfortable, knowing that our processes are certified by an international organization," he added.Roy underscored the importance of IRMA certification, noting that prospective nickel buyers from Europe pay close attention to how ESG principles are implemented."Fortunately, we have already started shipping to Europe because they see that our ESG processes are properly managed and comply with regulations, even approaching international standards," he said.Roy highlighted that meeting the mining standards set by Europe is costly and requires fulfilling numerous criteria."We were audited with 600 questions, including how we interact with and improve the social living standards of the local community. They don't just look at mining operations; they evaluate everything from start to finish," he explained.

PT Indo Tambangraya Megah (ITM) Tbk participated in the Festival LIKE 2 event, where the company showcased several advanced forest management technologies.Ignatius Wurwanto, ITM's Director of ESG, highlighted one of these technologies, an application called "Si Tanam." This application is designed to set geo-tagging markers, making it easier to monitor the growth of trees in revegetation areas."This technology makes ITM a greener and smarter company," said Ignatius at the Jakarta Convention Center (JCC), Central Jakarta, on Thursday, August 8, 2024.In addition to "Si Tanam," ITM introduced another advanced technology called "GreenCode." This application is used for measuring carbon reserves and monitoring the success of revegetation efforts. Ignatius emphasized that these initiatives are part of the company's digital transformation in implementing the concept of smart mining.Beyond these two advanced technologies, Ignatius mentioned several other sustainability efforts undertaken by the company. Through its subsidiary PT Indominco Mandiri (IMM), ITM has carried out ecosystem restoration across 72 hectares of coastal areas in two districts: Bontang Lestari, Bontang City, and Marang Kayu, Kutai Kartanegara Regency, East Kalimantan.Additionally, IMM has developed two arboretums in both reclaimed areas and non-mined areas, with a total accumulated area of 270 hectares. These arboretums serve as research sites for national and international universities. They also function as habitats for a variety of flora and fauna, including protected species such as mammals, primates, and birds.Furthermore, on June 4, 2024, ITM developed the Mentawir nursery facility in the new capital city, Nusantara (IKN). This nursery, with a capacity of 15 million tree seedlings per year, is supported by various facilities, including two mother plant houses, one greenhouse, six germination houses, a seedling irradiation area, and a laboratory.Ignatius noted that these achievements are showcased at the ITM booth. "There is so much to learn here, from development and seed collection to other aspects. We hope many visitors, especially students, can see Indonesia's renowned tropical forests. Please visit, and our team at the booth will be happy to explain everything in more detail. We hope it will be an enriching experience for all participants," he said.

PT United Tractors Tbk. (UNTR) has invested approximately USD 1 billion to expand into the nickel sector.United Tractors (UT) is aggressively pursuing business diversification, aiming to reduce its dependence on coal commodities. One of the key strategies in this diversification effort is expanding its business into the nickel mining sector, a commodity considered to have promising prospects.The expansion into the nickel sector by United Tractors has also attracted attention from Jardine Cycle & Carriage Ltd., the controlling shareholder of PT Astra International Tbk. (ASII).In its presentation, Jardine's management emphasized the vast potential of Southeast Asia, asserting that they are well-positioned to capitalize on this opportunity. Jardine cited Indonesia, which has significant nickel reserves, as their largest market. Leveraging the growth prospects of this industry, United Tractors is estimated to have invested USD 1 billion in the nickel business in 2023.When asked for confirmation, United Tractors' Corporate Secretary Sara K. Loebis affirmed that UT's total investment in nickel was approximately USD 1 billion in 2023. She explained that the funds were used to acquire ore mines and equity investments."With the addition of the nickel business line, we hope to create more balance in UT's revenue streams, particularly from non-coal businesses," she said in an interview with Bisnis on Thursday, August 8, 2024.As of the end of the first half of 2024, UNTR's nickel mining segment includes PT Stargate Pacific Resources (SPR), which was recently acquired with a majority ownership in December 2023, and Nickel Industries Limited (NIC), which was acquired in September 2023 with a 19.99% ownership.SPR operates a nickel mine in North Konawe, Southeast Sulawesi. NIC, on the other hand, is an integrated nickel mining and processing company with its primary assets located in Indonesia.In the first half of 2024, SPR recorded sales of 967,000 wet metric tons (wmt) of nickel ore, consisting of 421,000 wmt of saprolite and 546,000 wmt of limonite.NIC, meanwhile, achieved sales of 34,427 tons of nickel metal in the fourth quarter of 2023 and 32,759 tons of nickel metal in the first quarter of 2024.United Tractors' gold and other mineral mining segments reported a 17% year-on-year revenue growth, reaching IDR 4.4 trillion in the first half of 2024.Komatsu united tractors (UNTR)Stock Recommendation Revisions for UNTRSeveral securities firms have revised their recommendations for UNTR's stock following the release of the company's financial performance for the first half of 2024.Arief Budiman, Head of Research at Ciptadana Sekuritas Asia, noted that United Tractors posted a 10% quarter-on-quarter net profit growth, reaching IDR 4.98 trillion in the second quarter of 2024.Ciptadana highlighted that this achievement was primarily supported by stronger margins across all business lines on a quarterly basis, although the annual margins were lower due to coal prices.Cumulatively, Arief mentioned that UNTR's net profit declined by 15% year-on-year to IDR 9.5 trillion in the first half of 2024. This performance is considered in line with the lower revenue and margins."Nevertheless, this achievement was above our expectations and consensus," he said in a research note quoted on Thursday, August 1, 2024.Ciptadana noted that UNTR's net profit for the January to June 2024 period has already reached 55% of their and the consensus estimates for the year.Ciptadana decided to revise its target for UNTR's stock price upward to IDR 30,500, maintaining a "buy" recommendation.BRI Danareksa Sekuritas also recently revised its rating for UNTR's stock to "buy" on Wednesday, July 31, 2024. Their target price is IDR 29,200.It is worth noting that United Tractors recorded a revenue of IDR 64.5 trillion for the January to June 2024 period, reflecting a 6% year-on-year decline from IDR 68.6 trillion in the same period last year.In line with the revenue decline, UNTR's net profit fell by 15% year-on-year to IDR 9.5 trillion in the first half of 2024.