PT Adaro Energy Indonesia Tbk. (ADRO) reported an increase in production to 35.74 million tons in the S1 2024.In its operational performance report, ADRO recorded production of 35.74 million tons in the S1 2024, up 7% compared to the same period in 2023, which was 33.41 million tons.Along with the increase in production, ADRO's coal sales also rose to 34.94 million tons, a 7% increase compared to 32.62 million tons in the S1 2023.ADRO's overburden removal volume reached 141.58 million bank cubic meters (bcm) in the S1 2024. This volume represents a 9% increase compared to 32.62 million tons in the S1 2023.ADRO's metallurgical coal sales through PT Adaro Minerals Indonesia Tbk. (ADMR) increased by 43% to 2.59 million tons in the S1 2024.In the second quarter of 2024 alone, ADRO's coal production was recorded at 17.7 million tons, with sales of 18.5 million tons. While this production volume was lower than the 18.1 million tons in the first quarter of 2024, the sales volume increased from 16.5 million tons in the first quarter of 2024.Geographically, ADRO's coal sales were distributed as follows: 26% to the domestic market in Indonesia, 24% to Northeast Asia, and 18% to Southeast Asia. Additionally, 18% of sales were to China, 11% to India, and 3% to other export destinations.ADRO also reported that its subsidiary, PT Adaro Indonesia, produced 25.69 million tons of coal in the S1 2024, a 3% increase from the same period last year.Another ADRO subsidiary, Balangan Coal Companies, recorded coal production of 4.45 million tons in the S1 2024, up 10% compared to the S1 2023.Additionally, another ADRO subsidiary, PT Mustika Indah Permai, recorded higher coal production volumes in the S1 2024, reaching 2.61 million tons, with sales volumes of 2.86 million tons, 47% higher than in the first half of 2023.Kestrel Mine also reported a production volume of 2.32 million tons, down 8% compared to the S1 2023. However, Kestrel's sales volume reached 2.29 million tons in the S1 2024, a 2% increase compared to the S1 2023.

French miner Eramet SA is looking to acquire more nickel mining permits in Indonesia, the Jakarta Post reported, citing a senior company official.The firm wants to mine the battery metal on the island of Sulawesi, Bruno Faour, director of Eramet’s Indonesia unit, said in an interview. The prospective sites would need to be near areas with hydropower potential that could feed the operations, he added.Eramet runs one of the world’s biggest nickel mines on Halmahera island in the country’s North Maluku province, in partnership with Chinese conglomerate Tsingshan Holdings Group.It recently pulled out of a joint investment in a processing plant with Germany’s BASF SE, and is instead eyeing a stake in a facility owned by China’s Zheijiang Huayou Cobalt Co.

President Joko Widodo (Jokowi) is scheduled to officially inaugurate the Smelter Grade Alumina (SGAR) project, also known as the Mempawah Project, in West Kalimantan in mid-September 2024.The news of President Jokowi's planned attendance was hinted at when he visited the MIND ID booth during the LIKE Festival 2024. This has motivated the MIND ID Group to intensify efforts to enhance domestic value addition.The bauxite refining project is managed by PT Borneo Alumina Indonesia (PT BAI), with PT Inalum holding a majority stake of 60%, and PT Aneka Tambang Tbk. (ANTM) or Antam holding the remaining 40%.Melati Sarnita, Director of Business Development at Inalum, expressed her gratitude for the government's support, which she believes has enhanced the value of mineral and coal commodities, particularly in Mempawah, West Kalimantan."We are grateful to President Jokowi for visiting the MIND ID Group booth at the LIKE Festival 2024. It truly motivates us, especially in fulfilling the mandate to establish a national mining industry ecosystem," said Melati, quoted on Friday, August 9, 2024.She explained that the Antam-Inalum consortium project continues to be managed in accordance with the targeted standards and schedule. The state-owned mining holding, MIND ID, is also said to be facilitating the optimization and acceleration of the project.Following the construction process, Melati hopes that President Jokowi's presence at the smelter's inauguration will be realized during the commissioning process in September."We invited President Jokowi to SGAR Mempawah for the commissioning, where we plan to inject bauxite into the plant. That was the discussion. [Jokowi's response] was ready! He was very happy. Ready and willing to prepare [for the visit]," she said.It's worth noting that in March, President Jokowi also visited the SGAR Mempawah project. He projected that by September, the progress of SGAR would reach 97%.Meanwhile, the project is expected to reach the Commercial Operation Date (COD) in February 2025. The process of refining bauxite into alumina is anticipated to commence in the fourth quarter of 2024."Once operational, the plant will be capable of producing 1 million tons of alumina per year, with an estimated 3.3 million tons of bauxite as raw material per year. The project is divided into two phases and involves an investment of approximately USD 1.7 billion," she explained.

Adaro Group's metallurgical coal and metals mining entity, PT Adaro Minerals Indonesia Tbk. (ADMR), reported operational performance growth in the first half of 2024.Danuta Komar, Investor Relations at Adaro Minerals Indonesia, stated that ADMR's coal production volume in the first half of 2024 reached 2.98 million tons, a 17% increase compared to the first half of 2023. Meanwhile, the sales volume reached 2.59 million tons, a 43% increase from the previous 1.28 million tons.All production during this period came from PT Maruwai Coal and PT Lahai Coal, which produce hard coking coal with very low ash content, low phosphorus, and high vitrinite."Sales volume to the domestic Indonesian market increased due to solid demand from domestic coking plants. Indonesia accounted for the largest share of sales in the first half of 2024, at 37%. Japan, accounting for 29% of sales, was the largest export destination during this period," Danuta said in an official statement on Monday, August 5, 2024.Other export destinations for ADMR included South Korea, contributing 15% to the total sales volume, China 11%, India 5%, and Malaysia 3%.Overburden removal reached 10.36 million bank cubic meters (Mbcm) in the first half of 2024, a 37% year-on-year increase. This resulted in a stripping ratio of 3.48 times, a 17% increase compared to the first half of 2023. Good contractor performance and favorable weather conditions drove the increase in overburden removal volume during this period.Additionally, Danuta mentioned that investments in facilities and infrastructure to support volume increases are progressing well.The company is currently implementing several facility and infrastructure projects from the mine to the port. The initial phase of road transport upgrades covers a 39 km stretch, and in the first half of 2024, the company began applying chipseal to some sections of this transport road."The company also made good progress on the second barge loading conveyor, which will have a loading rate of 3,000 tons per hour and will enhance its barge loading capacity," she added.

PT Amman Mineral Nusa Tenggara (AMNT), a subsidiary of PT Amman Mineral Internasional Tbk (AMMAN), has received The Copper Mark for its Batu Hijau mine in West Sumbawa Regency, West Nusa Tenggara. AMNT has been recognized for meeting most of The Copper Mark criteria, which is a leading certification for responsible copper production practices.AMNT President Director, Rachmat Makkasau, stated that receiving The Copper Mark is evidence of the company's commitment to applying international standards in environmental, social, and governance (ESG) management."AMNT always prioritizes sustainability principles in all operational aspects. This achievement was possible due to the dedication and cooperation of all employees supporting the company's sustainability strategy and its implementation," said Rachmat on Monday, August 5.He emphasized that the company will continue to enhance strategies to prevent, mitigate, and address adverse impacts on people and the environment resulting from AMNT's operations. These efforts are undertaken to ensure full compliance with The Copper Mark criteria.The Copper Mark assessment is based on various responsible production criteria at participating copper producer locations. These criteria are defined by the Risk Readiness Assessment created and owned by the Responsible Minerals Initiative. The Risk Assessment encompasses core expectations of responsible production across key ESG issues.AMMAN's application process for The Copper Mark began last year. In September 2023, AMMAN signed a Letter of Commitment (LoC) with The Copper Mark, an independent, multi-stakeholder organization established and developed by the International Copper Association since December 2019. This organization is led by a Board of Directors and a Multi-stakeholder Advisory Council, which includes experts in environmental and human rights fields.

PT Hengjaya Mineralindo successfully secured seven prestigious awards in Indonesia for environmental and social innovation at the ENSIA Awards.The ENSIA Award ceremony was attended by Deputy Minister of Environment Alue Dohong in Nusa Dua, Bali, on Wednesday, July 31, 2024.In a separate occasion, Chief Operating Officer of PT Hengjaya Mineralindo, Tony Green, stated that these awards demonstrate Hengjaya Mineralindo's consistent ability to create environmental and social innovations."As leaders, we always support and encourage our employees to be enthusiastic and consistent in bringing about positive change, resulting in environmentally and socially friendly mining practices," he said.He continued, emphasizing the company's commitment to environmental and social issues, particularly in the aspects of Environmental, Social & Governance (ESG). This is the main core of a global nickel mining company like Hengjaya Mineralindo to produce responsible nickel.Tony added that the implementation of programs by the field teams results from excellent consultation processes with department leaders and all employees in addressing environmental and social issues in different work scopes.The collaboration process from planning to program evaluation has been carried out by the management and all employees of Hengjaya Mineralindo.For example, the company's management, along with the Sustainability Department, is responsible for holding regular weekly ESG monitoring evaluation meetings titled "Weekly ESG Monitoring" and monthly meetings for all departments through the "Chit-Chat ESG Ideas" agenda."We don't want to see ESG as an additional new task for management but rather as a culture that should be ingrained in every work line holistically. Therefore, the company always encourages employees to start innovations from small things that have great significance for the sustainability of the environment and humanity. And of course, driving the creation of a sustainable nickel business process now and in the future," said Tony.

PT Bumi Resources Minerals Tbk (BRMS), a gold mining sector company, is accelerating the construction of a gold processing plant in Gorontalo, targeted for completion by June 2026. This gold ore processing plant in Gorontalo will have a capacity of 2000 tons of ore per day.Herwin Hidayat, Director & Chief Investor Relations Officer of BRMS, stated that BRMS's main focus is the construction of the new gold plant in Gorontalo, which is planned to be completed by June 2026.In addition, BRMS is also finishing the construction of a third gold plant using the heap leach method, located in Palu, which is expected to be completed by the end of this year."This plant will play an important role in increasing gold production capacity in the future," Herwin told Kontan on Wednesday, July 31.From January to June 2024, BRMS recorded gold production reaching 26,744 ounces or 832 kilograms. This production achievement has already surpassed the production figure in the first half of 2023, which was recorded at 7,611 ounces or 236 kilograms."At the beginning of this year, we set a gold production target for the entire year of 2024 above 35,000 ounces. This is a much higher figure compared to the 2023 gold production, which only reached 23,270 ounces or 724 kilograms," Herwin revealed.BRMS is optimistic that global gold demand will remain high in 2024 due to several factors. First, the ongoing geopolitical uncertainty, which makes gold a safe haven and drives demand for this precious metal.Second, many countries are starting to replace the US dollar with their own currencies as foreign exchange reserves. Consequently, the accumulation of gold purchases is being made to strengthen each country's currency.Third, there is an excess demand for our gold products to date.

PT Pertamina Patra Niaga is supplying chemical products, fuel, and lubricants to support the smooth operation of the national strategic project (PSN) Smelter Grade Alumina Refinery (SGAR) at PT Borneo Alumina Indonesia."We fully support the government's efforts to enhance the value of bauxite products into alumina products by supplying supporting products, including chemicals, fuel, and lubricants," said Director of Central Marketing and Commerce of Pertamina Patra Niaga, Maya Kusmaya, in a statement received in Jakarta on Monday.This project is part of Indonesia's efforts to process bauxite into alumina domestically, thereby reducing dependence on raw material exports and increasing the added value of the country's mineral resources."Our chemical product, caustic soda, will be supplied in a quantity of 138,000 MT during 2024, and we predict that the volume of supply will continue to increase in line with the growing production needs of alumina," said Maya Kusmaya.PT Borneo Alumina Indonesia is a joint venture between PT Indonesia Asahan Aluminium (Persero) or INALUM and PT Aneka Tambang Tbk (ANTAM).Located in West Kalimantan, the company was established to develop and operate a refinery project with a production capacity of 1 million tons of alumina per year.This alumina refinery aims to process bauxite into smelter-grade alumina (SGA). The project is expected to support the government's initiative to enhance the downstream industry and improve Indonesia's competitiveness in the global market.Separately, President Director of PT Borneo Alumina Indonesia, Leonard Manurung, explained that caustic soda is one of the main raw materials for producing smelter-grade alumina."With this cooperation, we hope to ensure the availability and smooth supply and production at PT Borneo Alumina Indonesia's plant," said Leonard.He added that the success of the program is due to the collaboration and synergy within the Pertamina Group, between SH Commercial and Trading PT Pertamina Patra Niaga and SH Integrated Marine Logistics PT Pertamina International Shipping, to ensure the timely and safe delivery of products.

PT J Resources Asia Pasifik Tbk (PSAB) has demonstrated impressive performance in both stock price movement and financial results. In the first half of 2024, the top line and bottom line of this gold mining company have shown significant improvement.PSAB successfully turned its performance around, achieving a net profit of USD 10.08 million. This is a significant improvement compared to a net loss attributable to the owners of the parent entity of USD 18.32 million in the first half of 2023.This bottom line improvement is in line with a surge in the top line. PSAB recorded sales of USD 130.14 million by June 2024, a 125.85% increase compared to the same period last year (YoY), which was only USD 57.62 million.According to the financial report released on the Indonesia Stock Exchange on Wednesday, July 31, PSAB's revenue was derived from the sales of gold and silver, primarily to Metalor Technologies Singapore Pte. Ltd. amounting to USD 108.66 million and PT Aneka Tambang Tbk (Antam) amounting to USD 15.72 million.Sales to Metalor Technologies and Antam accounted for 83% and 12% of total sales, respectively. Additionally, PSAB's sales were also directed to Beijing Fuhaihua Import and Export Corp Ltd. amounting to USD 5.14 million and to Transamine Far East Limited amounting to USD 612,459.Along with the increase in sales, PSAB's cost of goods sold rose by 124% (YoY) to USD 62.90 million. As a result, PSAB posted a gross profit of USD 67.23 million, soaring 127.58% annually.After accounting for various other bookkeeping items, PSAB recorded a net profit of USD 16.25 million in the first half of 2024, reversing from a loss of USD 14.56 million in the first half of 2023.With this performance improvement, PSAB also posted earnings per share of USD 0.0004 as of June 30, 2024, compared to a loss per share of USD 0.0007 in the same period last year.The improvement in PSAB's performance is also reflected in its stock price, which has surged significantly. Year to date, PSAB's stock price has accumulated a gain of 147.73%. However, at the beginning of August, on Thursday, August 1, PSAB's stock price decreased by 0.91% to IDR 218 per share.For your information, PSAB is controlled by Jimmy Budiarto as the controlling shareholder, with a 92.50% ownership. PSAB controls several business entities, most of which are owned through PT J Resources Nusantara.PSAB's subsidiary, PT J Resources Nusantara (JRN), actively invests in various projects. Most recently, JRN was awarded at the Jakarta Investment Award 2024 held on Wednesday, July 31.JRN secured second place for the company with the largest investment realization contribution in the other services sector in 2023 in the Domestic Investment (PMDN) category. In addition to investment realization, two other criteria assessed were compliance with reporting requirements and social and environmental responsibility."This is an appreciation of J Resources' contribution to supporting regional economic growth through sustainable investment," said Director of J Resources Nusantara, Anang Rizkani Noor, in a release broadcast on Thursday, August 1.PT J Resources Nusantara directly owns six subsidiaries, including J&P Resources Gold OHQ (Malaysia), J Resources Netherland BV, PT J Resources Mining Services Indonesia, PT J Resources Bolaang Mongondow, PT Sago Prima Pratama, and PT Arafura Surya Alam.

The Indonesian government is reportedly in the process of reducing the portion of shares of Chinese companies in Indonesian nickel smelter projects, a maneuver believed to ensure the domestic downstream nickel ore industry to access the United States (US) government’s electric vehicle subsidies.“The government had discussed with several investors to build a new smelter, with Chinese companies having less than 25 percent of shares,” Bloomberg said in its report on July 26, 2024.However, Septian Hario Seto, Deputy for Investment and Mining at the Coordinating Ministry for Maritime Affairs and Investment, said that the government does not intervene in the business decision of each company to reduce the share of Chinese companies in the nickel projects in the country.“All projects are agreed through business-to-business between shareholders, including the decision on Chinese shareholder composition as a minority,” Seto said on July 26, 2024.Additionally, the government still continues negotiations to gain access to consumer tax credits that are included in the US Inflation Reduction Act (IRA) on electric vehicle incentives until now.It is known that IRA tightens metallic mineral criteria that can receive US government-allocated EV incentives after 2023. The regulation also allocates subsidies up to USS$370 billion (Rp6.025 trillion) to develop clean technology.Several of those criteria including mandatory metallic minerals to be processed in the US along with raw materials received originating from several countries must be included in the free trade agreement (FTA) with the US government.Meanwhile, China becomes a foreign entity of concern to not receive IRA facilities in mineral downstream projects.Previously, Jose W. Fernandez, US Deputy Secretary of State for Economic Growth, Energy, and the Environment said, there are big potentials in critical mineral cooperation with Indonesia, and its government continues to discuss the agreements.“But this is a positive discussion and we want to work towards a critical mineral agreement that will allow more companies from the US and elsewhere to invest in the critical mineral industry here, in Indonesia,” he said on July, 15, 2024.He also stated that his colleagues had spoken with the government about the mineral security partnership, that comprises 14 countries including the European Union (EU), which cover more that 55 percent of the world’s Gross Domestic Product (GDP). These countries include India, Australia, Japan, the US, and others.