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01 Dec 2023, 08:00 AM

Pani Gold and Tujuh Bukit Copper Projects Development

KONTAN/Akmalal Hamdhi
PT Merdeka Copper Gold Tbk (MDKA) conveyed the latest developments on a number of its prestigious projects, one of which is the Pani Gold Project. During January-September 2023, MDKA has completed 60,923 meters of drilling, with the next drilling schedule of 14,000 meters to be carried out during the remainder of this year.Results from recent drill holes demonstrate continuity of mineralization and indicate potential for resource expansion.Currently, MDKA is completing a feasibility study to optimize this gold project and build a heap leach with a capacity of 7 metric tons per year, with gold production expected to start at the end of 2025.The Pani Gold Project in Gorontalo will be one of the largest primary gold mines in Indonesia. With mineral resources of 6.6 million ounces of gold, the Pani Gold Project will be a low-cost, long-lived and sustainable gold mine.MDKA, which owns a 70% stake in the Pani Gold Project, has invested more than US$ 100 million to sustain the project until September 2023.Meanwhile, for the Tujuh Bukit Copper project, MDKA is currently completing optimization studies, including the potential to increase metallurgical recovery, increase underground mining production output, and open pit mining for additional copper ore.Underground drilling continues, with mineral resource updates targeted for completion in the first quarter of 2024.Drilling activities during the first nine months of 2023 have been recorded as deep as 26,290 meters and will continue throughout the remainder of this year with plans for further drilling of 10,375 meters.The Tujuh Bukit Copper Project is one of the largest copper projects in the world which is still in the pre-production phase. MDKA has 100% stake in this project. Image source: KONTAN/Akmalal HamdhiSource: Beberkan Perkembangan Proyek Emas Pani dan Tembaga Tujuh Bukit
30 Nov 2023, 12:00 PM

Aneka Tambang (ANTM) will stop using coal power plants

PT Aneka Tambang Tbk (ANTM) plans to abandon electricity from coal plants and is looking for alternative energy with lower emissions.  Antam's Director of Business Development, I Dewa Wirantaya, stated that his party has two principles in implementing the energy transition, namely implementing sustainable alternative energy (Renewable Alternative Energy) and energy efficiency so that emissions can be reduced. Several work plans are mapped based on the 2021 baseline which is divided into 4 parts, starting from the current plan (current program), short term plan (2024-2026), medium term (2027-2030), and long term (2031-2060). "In the long term plan, with the entry of PLN in Pomalaa, the PLTU can be stopped and we use other alternatives. "This is what makes the biggest contribution to the long-term energy transition," he explained in a Hearing Meeting (RDP) with Commission VII DPR RI, Monday (27/11). Currently, he continued, most of the electricity supply in Pomalaa uses PLTU. So his party started looking for new renewable energy (EBT) alternatives through collaboration with a number of parties. His party has conducted a study on the implementation of clean coal technology in Tanjung Buli in collaboration with several providers. Apart from that, his party will also utilize biomass for co-firing in several subsidiaries. In its presentation material, in the 2030-2060 plan, ANTM plans to have a Steam Gas Power Plant (PLTGU) equipped with Carbon Capture Storage (CCS) in Feni Haltim (FHT), PT Indonesia Chemical Alumina (ICA), PT Borneo Alumina Indonesia (BAI). Then, the use of new, renewable energy-based electricity in the Kolaka Nickel Mining Business Unit (UBPN), West Kalimantan Bauxite Mining Business Unit (UBPB), and Mempawah. Apart from that, the use of electricity from the PLN-Gas Engine Power Plant (PLTMG) (gas generator) in the UBPN Malut-PLN UBPN Malut-PLN Ferronickel Factory Development Project in East Kalimantan. Biomass is used as a reductant in a number of facilities ranging from smelters, the Haltim ferronickel factory construction project, to nickel business units. Apart from that, there are several other initiatives being undertaken in the long term plan, namely the use of technology in the form of replacing mining equipment with electrical equipment. Using low-emission fuel oil in all business units. His party will also install PLTS Rooftops for all employee housing and mining areas. Not only that, gas is used as energy in process equipment at UPBN Kolaka, P3FH Konut, and FHT. Image source: ANTARA FOTO/JOJONSource: Tambang (ANTM) akan Stop Gunakan Pembangkit Batubara untuk Operasional Bisnis
30 Nov 2023, 09:00 AM

Bukit Asam (PTBA) Boosts Coal Production and Sales

PT Bukit Asam Tbk (PTBA), a member of the MIND ID Mining BUMN Holding, successfully improved operational performance until the third quarter of 2023.PTBA's total coal production in the first 9 months of 2023 reached 31.9 million tons, growing 15 percent compared to the same period in 2022, namely 27.7 million tons.This increase in production is in line with an increase in coal sales volume by 15 percent to 27.0 million tons. The company continues to increase its export portion measurably without ignoring domestic needs.Until the third quarter of 2023, the company recorded export sales of 11.2 million tons, an increase of 24 percent compared to the same period the previous year. Meanwhile, the realization of Domestic Market Obligations (DMO) was recorded at 51 percent."PTBA continues to optimize operational performance achievements and implement efficiency in all company business processes, in line with targets until the end of 2023," said Director of Finance and Risk Management of PT Bukit Asam Tbk (PTBA), Farida Thamrin.As of Quarter III 2023, PTBA recorded a net profit of IDR 3.8 trillion. In terms of revenue, PTBA posted IDR 27.7 trillion. The company's total assets as of September 30 2023 were IDR 36.0 trillion.Strategic projects continue to run to support the Company's performance. Effective October 7 2023, the Sumsel-8 Mine Mouth Steam Power Plant (PLTU) (2x660 MW) has reached Commercial Operation Date (COD) status, aka operating commercially. This plant applies Supercritical Steam Generator technology which is efficient and environmentally friendly, as well as Flue Gas Desulfurization (FGD) technology to reduce exhaust gas emissions. This FGD technology can reduce sulfur dioxide from exhaust gas emissions from coal-fired power plants. Apart from that, PTBA and PT Kereta Api Indonesia (Persero) or PT KAI agreed on a cooperation framework for developing coal transportation on the Tanjung Enim Baru - Keramasan link on October 12 2023. This is in line with the Company's target to increase railway coal transportation capacity to 52 million tons per year by 2024.Image source: PTBASource: Kinerja, Bukit Asam (PTBA) Genjot Produksi dan Penjualan Batu Bara
30 Nov 2023, 08:00 AM

Adaro Minerals (ADMR) Will Develop 3 More Mines

PT Adaro Minerals Indonesia Tbk. (ADMR) plans to open 3 more mines to meet demand from the coking coal market.So far, the company, through its subsidiary companies, has operated two PKP2B concessions, namely through PT Lahai Coal (LC) and PT Maruwai Coal (MC).MC is the only concession that carries out production activities and produces hard coking coal from the Lampunut mine, while LC is currently carrying out mine optimization.Meanwhile, ADMR still has coal production pockets from Juloi Coal, Kalteng Coal and Sumber Barito Coal. Each has coal reserves of 55.5 million tons, 17.7 million tons and 5.8 million tons.Director of Adaro Minerals Indonesia Totok Azhariyanto stated that the company is currently carrying out a detailed study process for 3 mines and further exploration.In this way, Adaro Minerals is able to carry out competent development and production. ADMR, he continued, is currently preparing infrastructure such as hauling, fuel storage and employee accommodation.Meanwhile, Deputy President Director of Adaro Minerals Indonesia Iwan Dewono Budiyono said he would gradually increase production in line with increasing demand from industry."We plan to increase coal production to 6 million tons from the 2 mines that are already producing," he said.However, he did not rule out the possibility of opening a new mine to meet demand.Director of Adaro Minerals Indonesia Hendri Tamrin also sees demand strengthening as the global economy improves."We believe that for metallurgical coal until the middle of this year, many countries will tighten monetary measures. "But by loosening [interest rates and monetary policy] there is potential for economic growth so that markets open," he said.Currently, Japan is still the main consumer with absorption of 33%. Then followed by China 26% and India 20%. The contribution of other countries reached 21%."Currently we will continue to diversify [export destinations], we are focusing on Japan, China and India. "In future economic growth, it is likely that South and Southeast Asian countries will become centers of growth," he concluded.Image source: ADMRSource: Menguat, Adaro Minerals (ADMR) Bakal Buka 3 Tambang Lagi
29 Nov 2023, 12:00 PM

Indonesia Dominates World Nickel, PT Ceria Supports EV Ecosystem Development

The national nickel mining company, PT Ceria Nugraha Indotama, fully supports the Indonesian Government's steps in developing the electric vehicle (EV) ecosystem.As the largest nickel producing country in the world, Indonesia plays a big role in the EV industry.“It is time for Indonesia to focus on the electric vehicle ecosystem. "The need for battery raw materials, especially nickel, will increase, and this will greatly benefit Indonesia's position,""This is because the electric vehicle ecosystem requires more nickel, where Indonesia has laterite nickel content consisting of limonite and saprolite layers," said Ceria Group CEO, Derian Sakmiwata when speaking at the 2023 Electic Vehicle (EV) & Battery Conference, held by Tempo Group, at the Borobudur Hotel Jakarta, on Tuesday, November 21 2023.According to Derian, so far smelters in Indonesia have mostly processed saprolite nickel ore which has a high nickel content. However, to meet the need for nickel as a raw material for batteries, processing limonite nickel ore with the characteristics of low-grade nickel content containing cobalt is also very necessary because it is more economical.“As a country that has the largest nickel deposits in the world, the government and business actors must be able to play a role in this electric car ecosystem. Because if not, a lot of reserves will be wasted," said Derian.As a National Strategic Project (PSN), currently PT Ceria is racing to complete its smelter project in Kolaka Regency, Southeast Sulawesi.The PT Ceria smelter which is being built will use 2 main technologies, Rectangular Rotary Kiln Electric Furnace (RKEF) technology with a capacity of 4×72 MVA, consisting of 4 production lanes to process Nickel Saprolite ore which is targeted for completion in 2024 and High Pressure Acid Leaching (HPAL) technology to process Nickel Limonite ore (lower grade nickel ore) to produce electric vehicle batteries which is targeted for completion in 2026.The total production capacity of the RKEF nickel smelter will be able to produce around 252,000 tons of Ferronickel (FeNi) with a content of 22% Nickel or around 55,600 tons of Nickel in it.Meanwhile, HPAL processing will have a production capacity of 308,000 tons in the form of Mixed Hydroxide Precipitate (MHP), which contains 120,000 tons of nickel metal and more than 12,500 tons of cobalt.All of PT Ceria’s industrial activities apply the principles and rules of Environment, Social and Governance (ESG).“ESG must be implemented by every company, especially for the mining industry like ours. If ESG is not implemented, it will certainly be difficult for the Company’s activities to be sustainable,” said Derian in the discussion.Derian explained that PT Ceria manages Mining Business Permits (IUP) covering an area of ​​6,785 hectares.“Resources and mineral reserves from the Ceria IUP will be allocated and processed in the smelter and refining processing plant that we built ourselves,” said Derian.In developing nickel processing and refining facilities, said Derian, his party must first ensure the availability of reserves to ensure the availability of a sustainable supply of nickel ore.“Actually, our reserves are not very large, but they are enough to supply our factory for 20 years,” he said.Derian explained this strategy considering that PT Ceria developed a smelter based on the characteristics of the resources and laterite nickel ore reserves in the Ceria IUP area.“From 100 percent of the total area of ​​our IUP, almost 50 percent has been explored, we are still exploring the other 50 percent,” said Derian when conveying an estimate of nickel ore resources and reserves from around half the area of ​​the Ceria IUP area.Deputy Chairman of Commission VII Indonesian Parliament, Eddy Soeparno also supports the target of making Indonesia one of the countries producing electric vehicle/EV batteries.However, Eddy hopes that Indonesia will not just be a target market, but will become a producer.“Indonesia should not just be a market, but must be a base for battery production for export,” he said.According to Eddy, it is time for the Government to think about domestic nickel resilience amidst concerns about the availability of nickel reserves in the future.Eddy said that if all nickel smelters were operational (around 60 IUI smelters and 7 IUPK OP smelters were pure) and The government continued to open up new smelter investment space, without being balanced with exploration activities to discover new reserves and good governance, so nickel reserves.“We will run out quickly (between 10-15 years),” he explained.Assuming that if all smelters operate with nickel production of 210 million tons of ore (wmt) per year, then Ni > 1.7% will run out in 2033 and Ni > 1.5% will run out in 2039.For this reason, Eddy urges that the current government needs to implement a moratorium on new investments in the construction of pyrometallurgical smelters with NPI products and Ferronickel (because the nickel content is still very low) and encourages further downstreaming of these products to become stainless steel and its derivatives.“The most appropriate step is of course to accelerate downstreaming. "Therefore, the government must strengthen its industry, including nickel, batteries and electric vehicles," he stressed.Special Staff to the Minister of Energy and Mineral Resources for Coal Governance and Minerals, Irwandy Arif, said that with Indonesia's power to control 22 percent of the world's nickel reserves, Indonesia plays an important role in providing raw materials for the world's nickel supply and demand .For electric vehicles, the Government is targeting 5 million new electric motorbikes and 6 million converted electric motorbikes by 2025. Then in 2023, there will be 13 million new and converted electric motorbikes.As of this October, the number of electric motorbikes has reached 74,988 units and 20,414 electric cars.“Apart from Indonesia, the world is also competing to implement electric vehicles. "This has resulted in the need for batteries increasing," said Irwandy."Indonesia's nickel is 22 percent in the world," said Irwandy when reading his remarks at the conference.Irwandy said the government continues to strive to support the battery and electric vehicle industry in Indonesia. Because of this, the government has anticipated the ecosystem for providing raw materials by classifying critical minerals."The main challenge is how to develop a strategic plan for this critical mineral to support the battery and electric vehicle industry," said Irwandy. (AT Network)Image source: SpecialSource: Dominates World Nickel, PT Ceria Supports EV Ecosystem Development
29 Nov 2023, 09:00 AM

Antam to sign joint venture deal on EV battery plant in December

State-owned nickel and gold mining firm PT Aneka Tambang (Antam) is expected to sign a joint venture agreement with China’s Contemporary Amperex Technology Co. (CATL) to produce raw materials for electric vehicle (EV) batteries in December.The move is part of a larger plan to build an end-to-end domestic supply chain for EV batteries in Indonesia, an effort spearheaded by state-owned PT Indonesia Battery Holding (IBC).The EV battery holding company is also in talks with CATL and South Korea’s LG Energy Solutions, the world’s top-two EV battery makers by market share, to establish other joint ventures to develop the upstream-to-downstream EV battery industry.Antam business development director I Dewa Bagus Wirantaya said the company and CATL planned to sign the joint venture agreement on Dec. 10.With exclusive interviews and in-depth coverage of the region's most pressing business issues, "Prospects" is the go-to source for staying ahead of the curve in Indonesia's rapidly evolving business landscape.The two firms were finalizing the precondition, the divestiture of Antam's nickel ore mining arm PT Sumber Daya Arindo (SDA), as well as several cooperation measures in the upstream and downstream businesses, he explained.“There will be a joint venture signing, there will be a close of the transaction. Afterward, [upstream operations] will begin,” Dewa told reporters in Jakarta on Monday in response to a question about when the joint venture would begin operations.Mining holding company MIND ID, oil and gas giant Pertamina, electricity monopoly PLN and Antam each own 25 percent of IBC. MIND ID president director Hendi Prio Santoso previously estimated that the firm would need US$12 billion to develop an EV battery plant with a capacity of 15 gigawatts until 2027.IBC director Toto Nugroho said the company played a significant role in Indonesia’s net-zero emissions goal by working to set up a 3.5 gigawatt-hour (GWh) energy storage system (ESS) by 2030, which the company plans to accomplish in collaboration with Antam.“So, battery production for ESS and EV could take place in Indonesia by developing Antam’s [downstream business],” he told House of Representatives Commission VII, which oversees energy and mineral resources, in Jakarta on Monday.Dozens of battery-related development projects are ongoing in the country, mainly in nickel-rich Sulawesi and North Maluku, including projects led by CATL and LG Energy Solution.IBC in April last year also signed a framework agreement with Antam, CBL and LG Energy Solution underpinning the firms' plan to create joint ventures in every value chain.Several local companies are building smelters to process nickel ore for battery feedstock.Others are focusing on manufacturing and/or distributing electric two-wheelers and commercial EVs, including buses and trucks, as electric cars remain unaffordable for most Indonesians. Still others are installing charging or battery-swap stations, many collaborating with foreign companies to catch up on technology and for development aid.On April 14, Ningbo Contemporary Brunp Lygend Co (CBL), a CATL subsidiary, signed a framework agreement with Antam and IBC to develop the EV battery ecosystem in Indonesia.The project, located in the FHT Industrial Park, North Maluku, is worth around USD 6 billion and will include nickel mining and processing, EV battery materials and EV battery manufacturing, as well as battery recycling.Image source: AntamSource: to sign joint venture deal on EV battery plant in December
29 Nov 2023, 08:00 AM

Volvo CE introduces first electric machines to Indonesian market

Volvo CE
Volvo Construction Equipment is continuing its rollout of lower emissions construction equipment across Asia, with the introduction of the first electric machines in Indonesia.Two models are now available in the country after being presented to customers at Indotruck Utama’s Inspire 2023 event in September. The launch follows the introduction of other electric machines in China, South Korea, Japan and Singapore, and bodes well for mining-class electric machines arriving in the next decade.The first two electric construction machine models from Volvo CE in Indonesia are now available for purchase, with the company noting there is already strong interest in the ECR25 Electric compact excavator and the L25 Compact wheel loader, particularly from customers in the general construction, agriculture, material handling and livestock industries.The ECR25 Electric compact excavator is a 2.6-2.8 t capacity machine with a 22.3 kN breakout force. It has an onboard charger for general charging, an external quick charger (optional for indoor/outdoor specifications), and a 20 kWh battery array, allowing for 3-4 hours of work per charge.The L25 Electric compact wheel loader features a 2.1-t payload and a maximum speed of 20 km/h. The machine comes with a 40 kWh battery pack and is expected to deliver 6-8 hours of work per charge. Both machines offer near-silent operations and zero emissions while enhancing operator comfort thanks to a working environment that removes the vibrations and noise associated with diesel machines.To complement the existing models, in 2024 Volvo CE is planning on expanding its electric portfolio with the launch of the L120H loader, which is built with state-of-the-art technology to increase productivity and profitability. This commitment from Volvo CE to extend its electric machine range will open new opportunities for customers in the mining and aggregates sectors to reduce their carbon footprint, it says.Volvo CE understands that customers are setting their own environmental targets to reduce carbon footprints to accelerate the green transition. With this in mind, it is working in partnership with customers, creating bespoke step-by-step programs to help organisations achieve their unique climate goals.“We’ve seen a significant amount of interest, excitement, and anticipation from our customers in Indonesia, so bringing the first electric machines to market is a major milestone for us,” Gerrit Lambert, Head of Market Indonesia, Volvo CE Asia, said. “Already we’re seeing high interest from customers thanks to the machines’ key benefits, such as the fact that they are CO2 free and offer a lower cost of ownership than traditional machines.”Volvo CE says it is committed to ensuring its clients are fully prepared for the introduction of electric machines in Indonesia. To facilitate this, it conducted several intense safety and service training sessions with dealer partner, PT Indotruck Utama. This training not only surpasses all regulations required by the Indonesian government, but also adheres to European standards. The company is now embarking on a series of demonstrations nationwide with the new machines, so customers get a detailed look at the features and benefits they deliver.Image source: Volco CESource: CE introduces first electric machines to Indonesian market
24 Nov 2023, 12:00 PM

United Tractors (UNTR) Operational Targets View in 2024

ANTARA FOTO/M Risyal Hidayat
PT United Tractors Tbk (UNTR) has set operational performance targets for the coming year, covering heavy equipment, coal mining, and gold mining segments.In the heavy equipment segment, UNTR has reduced its year-on-year sales target for heavy equipment by 25% to 3,800 units to 4,000 units for the next year.Sara K. Loebis, the Corporate Secretary of United Tractors, mentioned that the decline in next year's target is due to a slowdown in the demand for heavy equipment in the mining sector. Furthermore, spending in the construction/infrastructure sector is expected to decrease, waiting for the conclusion of the 2024 Indonesian general election momentum.Throughout the first nine months of 2023, UNTR sold 4,365 units of Komatsu heavy equipment. This figure represents a 3.72% year-on-year decline, as sales for the same period last year amounted to 4,534 units.However, UNTR has set optimistic targets for other segments. For the mining contractor business through PT Pamapersada Nusantara (Pama), UNTR aims for a 15% growth in production next year.In the third quarter of 2023, Pama recorded a 16% increase in coal production volume from 83 million tons to 96 million tons. Pama also reported an increase in overburden (OB) removal work volume by 23%, from 692 million bank cubic meters (bcm) to 853 million bcm.For the coal sales volume of PT Tuah Turangga Agung (TTA), UNTR is targeting a growth of 9%.In the third quarter of 2023, total coal sales reached 8.5 million tons, an increase of 10% from the same period in 2022, which was 7.8 million tons. This figure includes 1.8 million tons of metallurgical coal.Gold sales conducted by PT Agincourt Resources are targeted to grow by 34% annually. Until September 2023, the total equivalent gold sales from the Martabe mine reached 147,000 ounces, a decrease of 32% compared to sales in the same period in 2022, which was 216,000 ounces.BRI Danareksa analyst, Erindra Krisnawan estimates that UNTR's net profit will reach its peak this year before experiencing a contraction in 2024-2025.This year, UNTR is estimated to record revenue of IDR 120.25 trillion with a projected net profit of IDR 21.40 trillion.Erindra believes that the normalization of coal prices will continue in 2024-2025, with projections of Newcastle coal prices at USD130 per ton and USD 100 per ton, respectively.Therefore, the net profit of this subsidiary of PT Astra International Tbk (ASII) is projected to decrease by 19% and 5% in 2024 and 2025.For 2024, gross profit in the heavy equipment, mining contractor, and coal mining segments is expected to decrease by 6%, 12%, and 39%, respectively.Image source: ANTARA FOTO/M Risyal HidayatSource: Target Operasional United Tractors (UNTR) pada 2024
24 Nov 2023, 09:00 AM

Harita Nickel (NCKL) HPAL Smelter to Operate in Mid-2024

Harita Nickel
PT Trimegah Bangun Persada Tbk. (NCKL) is targeting the operation of a High Pressure Acid Leach (HPAL) based refining facility with a capacity of 65,000 tons per year by mid-2024.Roy Arman Arfandy, President Director of Harita Nickel, revealed that NCKL is currently preparing for the construction of the second HPAL refining facility. This facility is expected to start its operation in the middle of next year."The production capacity of Mixed Hydroxide Precipitate (MHP) HPAL is 65,000 tons of nickel metal per year," said Roy to Bisnis on Tuesday (21/11/2023).The construction of HPAL is carried out through its subsidiary, PT Obi Nickel Cobalt (ONC). The facility is targeted to have three production lines with a production capacity of 65,000 tons of nickel content per year for Mixed Hydroxide Precipitate (MHP).NCKL has expansion plans by increasing the production capacity of both ferro-nickel and MHP by 120,000 tons of metal per year until the end of 2024. In addition, the ferro-nickel capacity is expected to increase with the planned construction of the third Rotary Kiln Electric Furnace (RKEF) technology smelter, which is scheduled to operate in 2025.The construction of RKEF will be carried out through its associate entity, PT Karunia Permai Sentosa (KPS), which is targeted to have 12 production lines with a production capacity of 185,000 tons of nickel ferro-nickel content per year.Roy emphasizes NCKL's commitment to continue its previously planned projects."We will run operations efficiently so that all projects run well and on time," he said.For your information, Harita Nickel has a mining business license (IUP) covering approximately 9,000 hectares, consisting of four mining concessions. Two mines are already operational, while the other two will be activated to support the supply of nickel ore raw materials in the future.Roy also reaffirms NCKL's intention to continuously increase the mine life and nickel ore reserves by acquiring new mining concessions and collaborating with local mining companies.With these projects, NCKL hopes to strengthen its position in the nickel industry and support the growth of the domestic mining sector.Image source: Harita NickelSource: HPAL Harita Nickel (NCKL) Beroperasi Pertengahan 2024
24 Nov 2023, 08:00 AM

Kideco Jaya Agung Produced 25.4 Million Tons of Coal Throughout January to October 2023

Sriwijaya Post/Syahrul Hidayat
PT Kideco Jaya Agung (Kideco) has realized coal production of 25.4 million tons during January-October 2023. This figure is approximately 81.93% of the company's full-year production target.For your information, Kideco aims for a production target of 31 million tons of coal throughout 2023. The subsidiary of PT Indika Energy Tbk (INDY) is currently facing coal demand from several countries in the export market."The highest demand in the export market comes from China, India, Japan, South Korea," said Ricky Fernando, Head of Corporate Communications at Indika Energy, to (15/11).The realized coal production of Kideco in the first 10 months has decreased compared to the production figure for the same period last year. Throughout January-October 2022, Kideco's coal production reached 29.4 million tons.Despite the decrease in production, the management is optimistic about achieving the production target set for the year 2023. According to Ricky, INDY has prepared strategies to maintain the company's performance."Strategies include optimizing productivity, improving efficiency, maintaining cash position, and optimizing capital expenditures," explained Ricky.For your information, coal sales continue to be the main support for INDY's consolidated revenue in January-September 2023. The company's interim financial report (unaudited) shows that INDY generated revenue of USD 2.04 billion in January-September 2023 in the coal sales business line.This amount is equivalent to 88.90% of the total consolidated revenue of INDY for the January-September 2023 period, which amounted to USD 2.29 billion.Image source: Sriwijaya Post/Syahrul HidayatSource: Jaya Agung Produksi 25,4 Juta Ton Batubara Sepanjang Januari-Oktober 2023


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