AMMN Profit Jumps 435% as Elang Project Moves Closer to Development

AMMN Profit Jumps 435% as Elang Project Moves Closer to Development

21 Sep 2026, 10:57 AM
UNTR’s Coal Mining Quota Rises as Mineral Mining Business Continues to Expand
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23 Sep 2026, 16:26 PM
MDKA Swings to USD 102 Million Profit in H1 2026, Driven by Nickel and Gold Businesses
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26 Sep 2026, 11:22 AM
Antam Absorbs 9 Tons of Freeport Gold, Gold Sales Reach IDR 50.39 Trillion
Antam Absorbs 9 Tons of Freeport Gold, Gold Sales Reach IDR...
26 Sep 2026, 11:25 AM
Indonesia’s Refined Nickel Production Surges 60-Fold, Becomes World’s Largest
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24 Sep 2026, 11:27 AM
Intraco Penta (INTA) Targets Up to 15% Revenue Growth in 2026
Intraco Penta (INTA) Targets Up to 15% Revenue Growth in 2026
19 Jan 2026, 11:05 AM 1644

PT Intraco Penta Tbk (INTA) has prepared a number of strategies to pursue double-digit revenue growth in 2026. The company aims to diversify heavy-equipment sales markets while boosting income from its rental business.Director of Intraco Penta, Willianto Febriansa, said INTA is targeting revenue growth of 10%–15% this year compared to 2025. Although strategies have been laid out to achieve the target, INTA will remain cautious amid several challenges facing the heavy-equipment industry this year.One focus is the government’s move to cut production targets for several mining commodities in the 2026 Work Plan and Budget (RKAB). INTA is anticipating efficiency measures that miners may take in line with the production caps.“The heavy-equipment business outlook in 2026 will be challenging and the company is required to drive efficiency across all aspects. We hope the government’s policy and plans (to trim production targets) will lift global commodity prices, especially coal and nickel,” Willianto told Kontan.co.id on Sunday (January 18, 2026).The mining sector remains the main market for INTA’s heavy-equipment business. Demand from coal customers contributes around 63% of INTA’s revenue, followed by nickel at 14%, cement (9%), gold (5%), forestry (4%), and other sectors (5%).Given that mix, INTA wants to accelerate market diversification to reduce reliance on coal. “This year the company is seeking to lower the coal portion and develop the cement and forestry sectors, alongside nickel and gold, which have started to add to their contribution,” Willianto said.Willianto has not disclosed INTA’s financial performance or heavy-equipment sales realization for last year. He only indicated that 2025 sales would be stable compared to 2024. “The 2025 annual report is in the audit process,” he said.What is certain is that INTA will boost revenue from the heavy-equipment rental line. As a reminder, last year INTA significantly increased income from rental services.INTA’s rental revenue surged 4,836.79% year-on-year to IDR 156.99 billion as of September 2025, from IDR 3.18 billion a year earlier. “The significant increase in rental services occurred due to several rental projects from our customers,” Willianto said.He is optimistic that the heavy-equipment and truck rental business will again be a growth driver this year. Willianto projects the rental segment will rise further and contribute around 20% of INTA’s revenue target in 2026.To achieve this, INTA has set a capital expenditure (capex) budget of IDR 260 billion. Most of this year’s capex will be used to procure heavy equipment and trucks for the rental business.For reference, INTA is a dealer for LiuGong heavy equipment, Doosan, and Sino Howo trucks. Willianto said LiuGong’s move to build a heavy-equipment manufacturing facility in Indonesia could also have a positive impact on INTA.LiuGong Indonesia is building a heavy-equipment plant in West Karawang. “The operation of LiuGong’s plant will be positive for the company’s development because it will greatly support equipment and parts availability for sales,” Willianto said.Separately, INTA plans to divest assets in the form of the building and land currently used as its headquarters in the Cakung–Cilincing area of Jakarta.The asset-divestment strategy is part of efforts to accelerate bank debt repayment, allowing INTA’s balance sheet position to become healthier.

Danantara Prepares a Massive IDR 43 Trillion Investment to Strengthen Mineral Downstreaming in West ...
Danantara Prepares a Massive IDR 43 Trillion Investment to Strengthen Mineral Downstreaming in West ...
16 Jan 2026, 12:48 AM 1869

West Kalimantan is preparing to become a new economic center of gravity through the strengthening of mineral downstreaming. The Indonesia Investment Authority, Danantara, has confirmed that it will soon conduct groundbreakings for six national strategic projects throughout this year, with the majority of these projects focused in the West Kalimantan region.CEO of Danantara Indonesia, Rosan Perkasa Roeslani, revealed that among the six major projects set to commence, the bauxite-to-aluminum downstreaming industry is a top priority. This is due to West Kalimantan's significant potential as a region with Indonesia’s most abundant bauxite reserves."Those six projects cover downstreaming in bauxite, alumina, and aluminum. West Kalimantan is our main highlight because, in addition to our core projects, there are three additional projects also located in the region," Rosan stated during a briefing in Jakarta on Thursday (15/1).The total investment prepared for this series of downstreaming projects reaches a fantastic figure of approximately USD 2.8 billion, equivalent to more than IDR 43.8 trillion. The selection of West Kalimantan as a key region is based on the strong availability of raw materials and an industrial ecosystem that is considered already formed and ready for large-scale development.This investment is expected to not only increase the added value of domestic mineral commodities but also provide a direct economic impact for local communities in West Kalimantan, ranging from job creation to the strengthening of regional industrial supply chains.In addition to the mineral focus in West Kalimantan, Danantara is also preparing expansions across various other sectors throughout Indonesia. These projects include industrial development in Cilacap and Banyuwangi, the production of bio-avtur as an eco-friendly energy source, and downstreaming in the livestock sector spread across five regions in Indonesia.Regarding the livestock sector, Rosan explained that his team has assessed 13 potential locations, five of which have completed feasibility studies with satisfactory results and are ready for immediate realization.

Vale Indonesia Resumes Mining Operations After 2026 RKAB Is Officially Issued
Vale Indonesia Resumes Mining Operations After 2026 RKAB Is Officially Issued
15 Jan 2026, 04:29 AM 3475

PT Vale Indonesia Tbk has officially received approval for its 2026 Work Plan and Budget (RKAB) from the Ministry of Energy and Mineral Resources (ESDM) on Thursday (15/1/2026). With the approval of the RKAB, Vale's mining operational activities have resumed.President Director and CEO of Vale Indonesia, Bernadus Irmanto, stated that with the acquisition of this RKAB, Vale is focused on restoring all operational and construction activities in Sorowako, Pomalaa, and Bahodopi. These activities will be based on safety aspects in accordance with applicable licensing regulations, ensuring they run optimally to make up for the backlog caused by the previous temporary suspension.The approval of the 2026 RKAB is an implementation of the Government's policy to reintroduce the annual RKAB approval mechanism, replacing the previous scheme which was based on a three-year integrated cycle with other basic permits.Vale welcomes this certainty as an important foundation for maintaining production discipline, good governance, and the sustainability of the national nickel industry. "With the complete licensing foundation, all our activities are now running normally again, in a compliant and sustainable manner," said Bernadus Irmanto in a written statement on Thursday (15/1/2026).Bernadus mentioned that the company will proceed with operational and production plans in accordance with the approval granted, while ensuring the continuity of supply for the national processing and refining industry.Previously, the Director General of Minerals and Coal (Dirjen Minerba) of the Ministry of ESDM, Tri Winarno, stated that his office had given the green light for the 2026 RKAB approval for Vale Indonesia.“It should happen later tonight. Approval is expected,” said Tri Winarno on Wednesday (14/1/2026).Furthermore, Tri revealed that Vale's mining activities were currently suspended as the company awaited RKAB approval. However, the needs of the smelters could still be supported by the existing stock availability.

ARCI Indonesia Allocates USD 10 Million for Gold Exploration Across 397 Prospective Areas
ARCI Indonesia Allocates USD 10 Million for Gold Exploration Across 397 Prospective Areas
14 Jan 2026, 12:50 AM 3570

Throughout 2025, PT Archi Indonesia Tbk (ARCI) spent approximately USD 10 million on gold exploration activities at the Toka Tindung Mine in North Sulawesi. This information was disclosed by the company in a press release in Jakarta yesterday.Through its subsidiaries, PT Meares Soputan Mining (MSM) and PT Tambang Tondano Nusajaya (TTN), ARCI completed 397 drill points. The total drilling depth for the January–December 2025 period reached 85,893 meters. ARCI management stated that drilling activities were focused on the East and West corridors of the Toka Tindung Mine to upgrade the resource and reserve classification of the company’s core assets.In the first quarter (Q1) of 2025, the company drilled 84 points with a total depth of 19,833 meters. Subsequently, in Q2 2025, ARCI drilled 106 points with a depth of 20,742 meters. In Q3 2025, the company drilled 107 points with a depth of approximately 22,599 meters. Finally, in Q4 2025, ARCI drilled 100 points with a total depth of 22,719 meters.ARCI management noted that the gold resource drilling and exploration activities utilized both diamond drilling and reverse circulation methods. The company's 2025 exploration results showed high-grade gold findings in several intervals, including grades reaching 26.57 grams per tonne (g/t) over a 5.40-meter interval, 13.66 g/t over 11.10 meters, and 16.26 g/t over 13.00 meters.As is known, the Toka Tindung Gold Mine consists of two Contracts of Work (CoW) with a total concession area of 39,817 hectares spanning two administrative regions: North Minahasa Regency and Bitung City, North Sulawesi. These Contracts of Work are valid until 2041 and are held by MSM and TTN.Under the Amended Mining Law, MSM and TTN are guaranteed two extensions of their Contracts of Work in the form of Special Mining Business Licenses (IUPK), with each extension for a maximum period of 10 years. ARCI recorded a net profit attributable to owners of the parent entity of USD 70.47 million as of Q3 2025, a turnaround from a net loss of USD 4 million in the same period last year.As of September 30, 2025, Archi Indonesia Tbk (ARCI) held an unappropriated retained earnings balance of USD 233.12 million and total equity of USD 343.95 million. Increased gold production and sales from the main mine in North Sulawesi were the primary drivers of ARCI’s performance growth. By the end of Q3 2025, ARCI recorded total gold production of 90,000 troy ounces (koz), a 23% increase compared to 73,000 troy ounces in the same period the previous year.

Metso Wins USD 210 Million Copper Smelter Contract in Asia
Metso Wins USD 210 Million Copper Smelter Contract in Asia
13 Jan 2026, 02:20 AM 2216

Metso says it has won a major order worth around EUR 180 million (USD 210 million) for the delivery of engineering and key process equipment for a new primary copper smelter investment in Asia.The planned production capacity of the copper smelter complex is 300,000 t/y of copper cathodes and 1.1 million t/y of sulphuric acid.The new copper smelting line is based on Metso’s Outotec® Flash Smelting, PS Converting and Lurec® technologies. It includes the design and supply of key process equipment for the main areas of the smelter complex, and the gas cleaning and sulphuric acid plant, copper electrolytic refinery and precious metals refinery. The delivery also comprises site services and spares.Piia Karhu, President, Minerals at Metso, said: “We are very pleased about this order. The Outotec Copper Flash Smelting method, which is part of the Metso Plus portfolio, is the world’s most widely applied technology for large-scale copper smelting plants.”Metso is a leading technology supplier to the copper processing industry, offering comprehensive solutions that, it says, span the entire production chain, from concentrate processing to refined copper. The Metso Plus solutions enable significant reductions in CO₂ emissions, and improve energy- and water-efficiency, at the same time ensuring high metal recovery even from challenging raw materials.Metso’s portfolio for copper smelting includes, for example, the Outotec Flash Smelting and Ausmelt® processes, complemented by Lurec technology for optimised gas cleaning and sulphuric acid recovery. In addition, Metso offers advanced e-Scrap smelting technologies for the recycling of electronic waste and a comprehensive scope of lifecycle services. Since the 1950s, Metso has delivered more than 50 copper smelters to major customers around the world.

Prabowo Wants Coal Gasification Project to DME to Move Forward
Prabowo Wants Coal Gasification Project to DME to Move Forward
12 Jan 2026, 06:38 AM 1697

President Prabowo Subianto emphasized that Indonesia is capable of carrying out coal gasification to produce dimethyl ether (DME).Prabowo points out that Indonesia is one of the countries with the largest coal reserves in the world.He expressed confidence that the resulting DME products could replace the import of liquefied petroleum gas (LPG).“We can produce DME which can replace our LPG imports from abroad,” Prabowo said during his remarks at the inauguration of the Balikpapan RDMP project in East Kalimantan on Monday (12/1/2026).On the other hand, Prabowo emphasized that Indonesia possesses other abundant energy resources.He stated that Indonesia is capable of producing energy from plants, namely biodiesel from palm oil.Furthermore, Prabowo noted that Indonesia has the largest geothermal and hydropower potential, which has not yet been utilized to its maximum.“So that we truly can produce our own energy. We don't need to import energy from outside,” said Prabowo.Therefore, he targets Indonesia to stop importing energy commodities within the next 5–7 years.“The important thing is that we must head in that direction. But who knows, with hard work, we might produce it even sooner,” said the Head of State.Previously, the Minister of Energy and Mineral Resources, Bahlil Lahadalia, stated that one more month is needed to finalize the coal gasification project into DME.Bahlil mentioned that within that month, he would coordinate closely with the Chief Executive Officer (CEO) of the Danantara Investment Management Agency (BPI), Rosan Roeslani, to finalize the project before conducting the groundbreaking.“Give me one more month to work out the details. Mr. Rosan and I will complete it within a one-month period,” Bahlil told the media in Hambalang, West Java, on Tuesday (6/1/2026).

BRMS Allocates USD 320 Million to Develop Gold and Copper Mining Projects Through December 2025
BRMS Allocates USD 320 Million to Develop Gold and Copper Mining Projects Through December 2025
12 Jan 2026, 12:43 AM 4166

PT Bumi Resources Minerals Tbk (BRMS) spent USD 3.20 million, or equivalent to IDR 53.76 billion (at an exchange rate of IDR 16,800 per USD), on exploration activities during the fourth quarter of 2025.Throughout the October–December 2025 period, BRMS conducted exploration through five subsidiaries: PT Citra Palu Minerals, PT Dairi Prima Mineral, PT Gorontalo Minerals, PT Linge Mineral Resources, and PT Suma Heksa Sinergi.According to the Indonesia Stock Exchange (BEI) information disclosure on Monday (12/1/2026), PT Citra Palu Minerals allocated USD 747,040.10 for four gold exploration blocks and one production operation block in Central and South Sulawesi.In this regard, the company continued resource drilling at the River Reef-Watuputih Prospect, Block I Poboya, reaching a total depth of 89,582.40 meters by the end of December 2025. A total of 356 drill points have been completed, including 3 hydrogeological drill holes and 13 geotechnical drill holes.Meanwhile, the production operation costs for PT Dairi Prima Mineral (DPM) were recorded at USD 21,275.86. However, there were no exploration activities from October to December 2025, as exploration at the Anjing Hitam Prospect has been completed and the project has now entered the Production Operation stage.Besides the Anjing Hitam Prospect, other prospects within DPM’s Contract of Work (KK) area remain at various stages, ranging from regional exploration to resource delineation drilling.One of the most advanced projects is the Lae Jehe Prospect, located approximately 200 meters northwest of the Anjing Hitam Prospect. This prospect has entered the resource delineation drilling stage and will continue to be developed until mineral resources with a more dominant measured and indicated classification are achieved.Furthermore, PT Gorontalo Minerals disbursed USD 1,817,796.70 for gold and copper production operations at the Cabang Kiri East Complex Block I (Tombulilato), Motomboto Complex Block I, Sungai Mak Complex Block I, Kayubulan Prospect Block I, and the Gunung Lintah Area Block I.The company conducted exploration drilling at the Cabang Kiri East Prospect, Block I Tombulilato, with a current total drilling depth of 15,730.4 meters.They also continued geological mapping and surface rock sampling in the Gunung Lintah and Mono areas of Block I Tombulilato, as well as ridge spur soil sampling in the same areas.Additionally, PT Linge Mineral Resources spent USD 338,794.52 on gold mine exploration at the Bulan Prospect (Abong Project), Bintang 1 Prospect (Abong Project), Bintang 2 Prospect (Abong Project), and Regional Exploration (IUP Area).Lastly, the costs incurred by PT Suma Heksa Sinergi for gold and silver mining production operations amounted to USD 277,009.01. These production operations were carried out at the Pasir Karang Prospect, Regional North Pasir Karang, Regional West Pasir Awi, and Regional Northeast Gember.

Rio Tinto Explores Merger with Glencore, Potentially Creating the World’s Largest Mining Company
Rio Tinto Explores Merger with Glencore, Potentially Creating the World’s Largest Mining Company
11 Jan 2026, 03:12 AM 1855

Rio Tinto Group has resumed talks to acquire Glencore Plc in a move that could create the world’s largest mining company.Citing Bloomberg on Friday (January 9, 2026), the combined company would have a market value of around USD 200 billion, or roughly IDR 3,500 trillion.Rio Tinto explored a takeover of Glencore about a year ago, but discussions between the two fell through at the time.“The two companies are discussing a potential combination of part or all of their businesses,” they said in separate statements on Thursday.A merger between the two companies would mark the largest deal ever in the global mining industry, amid a rising trend of mergers and acquisitions in the sector.Both Glencore and Rio Tinto hold significant copper assets, and the potential deal would create a new mining giant to rival BHP Group, which has long held the title of the world’s largest miner.Rio Tinto has a market capitalization of about USD 137 billion, while Glencore is valued at USD 70 billion.However, the merger efforts are unlikely to be smooth. Glencore is one of the world’s largest coal producers, a business Rio Tinto has exited. In addition, the two companies have very different corporate cultures.The companies held talks in 2024, but the discussions were halted after they failed to agree on valuation.

AMMN Allocates USD 3.03 Million for Sumbawa Exploration: Mechanism and Plan
AMMN Allocates USD 3.03 Million for Sumbawa Exploration: Mechanism and Plan
11 Jan 2026, 12:45 AM 1968

PT Amman Mineral Internasional Tbk (AMMN), through its subsidiary PT Amman Mineral Nusa Tenggara (AMNT), has officially reported its exploration operational achievements throughout the fourth quarter of 2025.This strategic move includes intensive activities within the Special Mining Business License (IUPK) area located in Sumbawa, West Nusa Tenggara.Throughout the period of October to December 2025, the company recorded an expenditure of USD 3.03 million to strengthen its future mineral reserve base.Based on the information disclosure report released on Saturday, January 10, 2026, the primary focus of exploration was directed at two strategic areas: Block II Elang and Block III Rinti.These activities are part of AMMN's ongoing efforts to optimize the potential of copper-gold (Cu-Au) porphyry deposits, which are the company's operational strength in the global mining industry.The Block II Elang area became the main focus of activity, with fund absorption reaching USD 2.8 million.At this location, AMNT conducted a series of geological mappings and core drillings covering several potential areas, such as the Elang Cu-Au porphyry project, Gerbang Timur, and Sebu Timur.Additionally, drilling was carried out in the Semamu area, which is projected as a location for waste dump placement.In its execution, AMNT's exploration management team collaborated with professional partners, namely PT Minera Nusa Drillindo as the drilling contractor, supported by laboratory services from Intertek Utama Service.Cutting-edge technology, such as the ASD TerraSpec 4 Mineral Spectrometer, was also deployed to perform precise mineral alteration analysis.Technically, drilling in Block II Elang successfully completed 18 drill holes with an accumulated depth of 6,438.5 meters.Meanwhile, activities in Block III Rinti absorbed a budget of approximately USD 226,000. By operating one rig unit, the main focus in this block was exploring mineralization potential beneath the Southwest Sane lithocap layer.By the end of December 2025, two drill holes were completed with a total depth of over one thousand meters. In contrast to the previous two blocks, Block IV Lampui recorded no physical activity or expenditures this quarter, as the company is still conducting an in-depth review of previous exploration data.The sustainability of AMMN's ambitious projects is supported by a solid shareholding structure involving major players in the national energy industry.For information, this structure provides an overview of the company's managerial stability and strategic policy direction moving forward.1. PT Sumber Gemilang Persada (Main Controller): PT Sumber Gemilang Persada holds the position of majority shareholder with an ownership stake of 32.17 percent. With ownership of over 23.3 billion shares, this entity acts as the main controller with significant influence over AMMN's long-term vision. This dominant ownership provides stability in strategic decision-making, particularly regarding large-scale expansion and mine operational integration.2. PT Medco Energi Internasional Tbk (Strategic Synergy): AMMN's ownership structure is further strengthened by the presence of PT Medco Energi Internasional Tbk, which holds 20.92 percent of shares, equivalent to 15.1 billion shares. The involvement of Medco, which is affiliated with the Panigoro family, creates synergy between the mineral mining sector and energy management. Medco's long experience in the natural resources industry adds value to AMMN in improving operational efficiency and market confidence among institutional investors.3. Public Participation and Market Liquidity: The public investor group holds an 18.51 percent stake in AMMN's ownership structure. Although each individual or institution in this group holds less than 5 percent, their role is crucial in maintaining stock trading liquidity on the Indonesia Stock Exchange. This distribution of ownership, which includes domestic retail investors and global institutions, reflects healthy market dynamics for the issuer with the ticker code AMMN.

INCO Spends IDR 28 Billion on Exploration in Morowali and East Luwu
INCO Spends IDR 28 Billion on Exploration in Morowali and East Luwu
09 Jan 2026, 08:00 AM 1497

PT Vale Indonesia (INCO) spent USD 1.67 million—equivalent to around IDR 28 billion (assuming an exchange rate of IDR 16,800 per USD)—on exploration in the fourth quarter of 2025.Exploration focused on areas within the company’s Special Mining Business Permit (IUPK), including the Sorowako Block and Sorowako Outer Area in East Luwu Regency.It also covered South Sulawesi and the Bahodopi Block in Morowali Regency, Central Sulawesi, as well as the Pomalaa Block in Kolaka Regency, Southeast Sulawesi.In a disclosure on Thursday (January 8, 2025), Vale reported spending USD 657.89 thousand in October, USD 508.77 thousand in November, and USD 507.08 thousand in December.INCO carried out the exploration together with third parties, namely drilling and geophysics contractors.The work used HQ-3 core drilling with 100-meter and 50-meter spacing to upgrade resource classification in Block 1 Tetenggala and Block 1 Lalombundi (Pomalaa Block).Meanwhile, geophysical surveys employed the Electrical Resistivity Tomography (ERT) method, with measurements conducted in Block 1 Tetenggala (Pomalaa Block).Management stated that test results are being processed for resource and reserve estimation using the ordinary kriging method in Sorowako.At the Pomalaa Block, drilling with 100-meter and 50-meter spacing will continue in Block 1 Lalombundi and Block 1 Tetenggala (Pomalaa Block).“Geophysical measurements using the ERT method will continue in Block 1 Tetenggala (Pomalaa Block). All drilling activities are planned to obtain a complete laterite profile,” management said.

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