PT Delta Dunia Makmur Tbk (DOID) recorded an increase in revenue and net profit performance throughout 2023. DOID recorded a net profit of USD 36.01 million or equivalent to IDR 560.8 billion (BI Jisdor exchange rate of IDR 15,576 per US dollar).In its financial report, DOID recorded revenue of USD 1.83 billion, or equivalent to IDR 28.5 trillion in 2023. This revenue increased 18% compared to USD 1.55 billion in 2022. DOID's management revealed that this was its highest revenue on record.Furthermore, DOID revealed that throughout 2023, Delta Dunia Group showed record-breaking performance in terms of overburden removal, revenue, and EBITDA, exceeding the targets set by the Group for the year.This success was largely driven by record overburden removal, which increased by 14% YoY, and production volumes in Indonesia up 10% YoY and Australia up 28% YoY. This was supported by a significant increase from successfully securing some contracts, including BMA's (BHP and Mitsubishi Alliance) Saraji and Burton mines in Australia.Management also explained that DOID's satisfactory performance was driven by the success of obtaining several new contracts, achieving record overburden removal, active cost management strategies, and increased diversification into metallurgical coal, which now accounts for 19% of revenue.The increase in DOID's revenue also contributed to the increase in DOID's net profit. DOID's net profit rose 26% in 2023 to USD 36.01 million, equivalent to IDR 560.8 billion in 2023, from USD 28.6 million in 2022.Delta Dunia Group Director Dian Andyasuri said the strategic transformation of the company's product mix is a response to the global shift towards a low-carbon economy. According to Dian, DOID is currently adapting to the decline in demand for thermal coal."We are capitalizing on the strong demand for metallurgical coal, which continues to be an important ingredient for steel production," Dian said in an official statement on Thursday (14/3/2024).The planned transition is a cornerstone of DOID's diversification strategy, which has yielded substantial results. Metallurgical and infrastructure coal now represents 19% of DOID's revenue and sets DOID on course to reduce its reliance on thermal coal to 50% by 2028."This progress reflects our commitment to sustainable performance and strategic growth," he said.By the end of 2023, DOID also recorded operating cash flow that increased 91% YoY to reach USD 376 million, resulting in a strong cash position of USD 543 million to support DOID's business and drive future growth through acquisitions.Concurrently, DOID has also undertaken strategic initiatives to reduce its debt exposure. On March 5, 2024, DOID announced the implementation of a bond tender offer and consent solicitation to all holders of DOID's 7.75% Senior Notes issued in 2025 to purchase in cash the remaining outstanding balance.As for 2023, DOID's capital expenditure (capex) decreased by 20% YoY to USD 121 million. This decrease was due to the successful completion of several projects in Indonesia, per the 2023 target of USD 105 million to USD 145 million."Maintaining tight control over capital expenditure remains a priority for the group," he said.Image source: Bisnis.com / DOIDSource: https://market.bisnis.com/read/20240314/192/1749164/delta-dunia-doid-cetak-laba-bersih-rp5608-miliar-sepanjang-2023 

PT Bukit Asam Tbk (PTBA) delivered the latest news regarding cooperation in the wind power plant (PLTB) or wind farm construction with Chinese companies, China Huadian Oversears Investment Co. Ltd. and Huadian Guangxi Energy Co. Ltd.Bukit Asam President Director, Arsal Ismail, said his team is still communicating with Huadian regarding this cooperation."With Huadian, it is not only wind [power], but hydro. It is because the wind in Indonesia is not as big as abroad," Arsal said on Thursday (3/14/2024).For the record, this wind power plant will be located in the South China Sea region. This power plant has a capacity of up to 1.3 gigawatts (GW).Furthermore, Arsal said PTBA has a roadmap for facing the energy transition. According to him, until 2030, PTBA targets the core coal business to contribute 70%, and the remaining 30% is contributed from non-coal such as EBT and several other projects such as downstream.Previously, PTBA management explained that the company had so far built a solar power plant at Soekarno-Hatta Airport in collaboration with PT Angkasa Pura II (Persero), which has been fully operational since October 2020.The PLTS has a maximum capacity of 241 kilowatt-peak (kWp) and is installed in the Airport Operation Control Center (AOCC) building.In addition to Angkasa Pura II, PTBA also cooperates with Jasa Marga Group to develop PLTS on toll roads. The PLTS, with a capacity of 400 kWp, on the Bali-Mandara Toll Road was completed and inaugurated on September 21, 2022.PTBA is also currently exploring opportunities for the development of hydrogen-based renewable energy, both for its own needs and to support the strengthening of partnership needs in PTBA's transportation and production business chain system in the future.Image source: Bisnis.comSource: https://market.bisnis.com/read/20240314/192/1749424/ptba-punya-proyek-pltb-dengan-perusahaan-china-intip-progresnya 

It's no coincidence that nickel and tin are the two strongest performers in the London Metal Exchange (LME) base metals pack this year so far.Supply in both markets is dominated by Indonesia, where production and exports are being affected by delays in approving annual work permits.This is a relatively new phenomenon for nickel. Indonesian production has exploded over the last few years to the point the country now accounts for more than half of global supply.Tin has been here before. Indonesia has long been the world's largest exporter, and the flow of metal to world markets has been interrupted several times in the past when the government tightened production and export rules.Tin's misfortune, however, is that its supply chain is not just beholden to Indonesia's resource nationalism but also to that of the Wa State in Myanmar.DOUBLE TROUBLEIndonesia exported 78,000 metric tons of refined tin last year, equivalent to around a fifth of global demand.Exports this year have slumped to just 55.4 tons, compared with 4,700 tons in January-February 2023.The last time shipments ground to a complete halt was in August 2015, when the authorities introduced "clean and clear" rules on exports to enforce environmental standards.This time it's a change to the annual permitting system. Tin may be coming under special scrutiny due to an unfolding illegal mining scandal.The government has also made no secret of its intention to limit exports as a lever to push its tin sector further downstream.It doesn't seem to have worked out how to replicate its nickel strategy in the tin market yet. But the threat to the rest of the world's tin supply is not going away.Neither is that posed by the Wa State, the semi-autonomous region of Myanmar that controls the Man Maw mine, one of the world's largest tin resources.All mining was suspended in August last year to allow for an audit of reserves. The suspension has been partly lifted, opening a new tab for some smaller operators, although they will pay more in export tax, according to the International Tin Association (ITA).However, operations at Man Maw have yet to resume. The ITA suggests the delay may reflect a policy re-think around the need to replenish the Wa government's strategic stockpile.Amid the continuing uncertainty, one thing is clear. The ruling United Wa State Army aims to exert tighter control over the jewel in its mineral crown.Myanmar and Indonesia are combining to squeeze global tin supply driven by the same resource nationalist impulse.SURPLUS AND STOCKS REBUILDThe tin market can likely absorb the double hit over the short term.The ITA estimates that global supply exceeded usage by 9,700 tons last year, attesting to the slump in demand from the electronics sector, where tin is used for circuit-board soldering.Stocks registered with the LME and the Shanghai Futures Exchange (ShFE) more than doubled to 15,400 tons throughout 2023.Those on the LME have recently been sliding as the halt to Indonesian shipments drags on. Headline inventory has fallen by 31% to 5,300 tons since the start of January.Shanghai stocks, by contrast, have continued growing over the Chinese New Year holiday period and at a current 11,072 tons, the highest they have been since ShFE launched its tin contract in 2015.The flow of raw material from the Man Maw mine in Myanmar to Chinese smelters has dropped but not as much as feared after the authorities allowed the processing of surface stocks. Many Chinese operators also built up stocks of concentrate ahead of the August suspension.China's production of refined tin grew by 1.8% year-on-year to 169,000 tons, according to local data provider Shanghai Metal Market.Tin users are lucky that the current supply disruption has come after a year of low demand and restocking of both raw material and metal.FUTURE FRAGILITYThe question worrying the tin market is how long it will be before normal supply service is resumed in Myanmar and Indonesia.LME three-month tin hit a seven-month high of $27,810 per ton on Friday and, currently trading around $27,460 per ton, is now up by 9.0% at the start of the year.Even assuming a speedy resumption of Indonesian exports and mining in Myanmar, tin supply over the next few months looks challenging.The longer-term threat is future supply disruption as resource nationalism drives both governments further down the road of export controls.Tin's use as a circuit-board solder makes it a critical mineral for the current generation of electronics and the coming Internet of Things.Yet it is one with an incredibly fragile supply chain, beholden to the politics of Indonesia and the United Wa State Army.This year's supply squeeze maybe just a taster of things to come for tin.Image source: REUTERS / Claro Cortes/File PhotoSource: https://www.reuters.com/markets/commodities/tin-supply-trapped-resource-nationalism-squeeze-2024-03-12/  

PT Petrindo Jaya Kreasi Tbk (CUAN) signed a Memorandum of Understanding (MoU) with Cokal Limited, a coal mining company listed on ASX Australia.Director of Petrindo Jaya Kreasi Daniel Laurente said this agreement aims to develop infrastructure and optimize coal transportation in Murung Raya Regency, Central Kalimantan."The initiative provides acceleration to start and improve the coal mining assets owned by Petrinco and Cokal," he explained in a stock exchange filing on Wednesday (6/3).Daniel said this agreement strengthens Petrindo's supply chain integration and the operational efficiency of Petrindo Jaya Kreasi's subsidiary, PT Daya Bumindo Karunia, and Cokal's subsidiary, PT Bumi Barito Mineral."Access to infrastructure is the key to CUAN's operations and significantly optimizes transportation efficiency in its operational areas," he said.Most recently, CUAN obtained a Term Loan and Revolving Syndication Loan worth IDR 3.5 trillion for working capital, financing and maintenance of assets, and completion of the acquisition of several mining companies.The loan was also used to acquire PT Multi Tambangjaya Utama, PT Borneo Bangun Banua Bestari, and PT Borneo Bangun Banua. Multi Tambangjaya Utama is a PT Indika Energy Tbk (INDY) subsidiary.CUAN plans to acquire 2.26 million Multi Tambangjaya Utama shares from PT Indika Indonesia Resources (IIR) and Indika Capital Investments Pte Ltd (ICI) with a transaction value of USD 203 million.Not only that, the companies will soon finalize the transfer of marketing rights owned by ICI with a value of USD 15 million. Thus, the overall acquisition value reached USD 218 million.Image source: Kontan / Doc. CUANSource: https://investasi.kontan.co.id/news/petrindo-jaya-kreasi-cuan-berkongsi-dengan-cokal-limited 

In an era marked by globalization and interconnected economies, forging strong partnerships across borders is key to fostering growth and development. Nickel Industries Limited stands as a shining example of successful collaboration between Australia and the ASEAN region, embodying the spirit of mutual benefit and shared prosperity. Nickel Industries Limited is an Australian public company that owns a portfolio of mining and low-cost downstream nickel processing assets in Indonesia, which is a member of the Association of Southeast Asian Nations (ASEAN). The Company has a long history in Indonesia, with controlling interests in the world-class Hengjaya Mine, as well as four rotary kiln electric furnace (RKEF) projects that produce nickel matte for the electric vehicle (EV) supply chain and nickel pig iron (NPI) for the stainless-steel industry. Having established itself as a globally significant producer of NPI, the Company is now rapidly transitioning its production to focus on the EV battery supply chain – recently, the Company has converted some of its existing production from NPI to nickel matte, and also acquired a 10% interest in the Huayou Nickel Cobalt (HNC) HPAL project, adding mixed hydroxide precipitate (MHP) to its product portfolio. Nickel Industries is now embarking on its next transformative step, announcing a positive final investment decision to invest in Excelsior Nickel Cobalt (ENC), a next-generation HPAL project capable of producing MHP, nickel sulfate, and nickel cathode. ENC will produce approximately 72,000 tonnes of nickel metal per annum, diversifying the Company’s production and reducing the Company’s carbon emissions profile – reflecting the strong commitment to sustainable operations. Nickel Industries’ operations demonstrate how Australia and ASEAN can cooperate to achieve mutual benefits in the areas of trade, investment, and sustainable development. In the space of the 2024 ASEAN-Australia Special Summit, which is held to commemorate the 50th Anniversary of ASEAN-Australia Dialogue Relations in Melbourne this week, Sustainability Manager Muchtazar commented:  “It’s a privilege and honor to represent Australia’s largest nickel producer at this high-level forum, which showcased the acknowledgment of Nickel Industries’ positive impacts on the growth of the Australia-ASEAN region in the past years.” "In terms of Climate and Clean Energy Transition, we are proudly taking a leadership role in reducing our carbon footprint and supporting the sustainability of the environments and communities in which we operate. As a Company, we have committed to a 50% reduction in carbon intensity by 2035 and net zero emissions by 2050, which was first announced at the 2023 United Nations Climate Change Conference (COP28) in Dubai last year," Muchtazar said. Nickel Industries stands as a testament to the strength of Australia-ASEAN cooperation, embodying the principles of partnership, innovation, and sustainable development. Through its strategic vision and commitment to shared values, the Company paves the way for a brighter future of collaboration and prosperity in the Asia-Pacific region and beyond. Nickel Industries’ operation reflects the common vision and interests of Australia and ASEAN, and its commitment to regional stability, prosperity, and sustainability. The Company’s achievements also inspire more opportunities for collaboration and innovation between Australia and ASEAN in the future. Image source: Nickel Industries LimitedSource: https://www.medcom.id/english/world/GbmP9D3N-australia-asean-partnership-nickel-industries-limited-become-a-shining-example 

Shipping company PT Transcoal Pacific Tbk (TCPI) signed an agreement with one of the largest coal mining companies in East Kalimantan (Kaltim) with an estimated contract value of IDR 15 billion on March 4, 2024.Transcoal Pacific Director Bintang Septo Drestanto said the agreement covers the provision of labor, materials, equipment, supplies, and technical support for the provision of floating barges for temporary storage of fuel oil (BBM) at LTT Bengalon Port.  "The contract period is three years with an estimated contract value of IDR 15 billion," said Bintang in an information disclosure on Wednesday (6/3).Bintang said the signing of the agreement to provide floating barge services will have an impact on TCPI's operational activities, legal, financial condition, and business continuity."It has a positive impact on the company's operational activities because the company has the trust of customers to provide floating barge services for temporary storage of fuel at the customer's Bengalon LTT Port," he added.As for fulfilling this agreement, the company is obliged to provide floating barges for temporary storage of fuel at the Bengaon location or Lubuk Tutung special terminal, including equipment, labor, spare parts, and consumables following the provisions stipulated in the contract."Business continuity is well maintained and guaranteed," he added.Image source: KONTAN / Doc. TCPISource: https://industri.kontan.co.id/news/transcoal-pacific-tcpi-raih-kontrak-jasa-tongkang-rp-15-miliar 

PT Trimata Benua, a leading coal mining company in South Sumatra, is optimistic that it will be able to pursue the coal production target of 5 million tons this year, which has been approved by the Ministry of Energy and Mineral Resources.CEO of PT Trimata Benua, Subagio Wirjoatmodjo, is optimistic about achieving the target given the importance of coal as a vital energy source. "Coal remains an important source of energy due to its affordable price and abundant availability. We are confident that we can achieve this year's production target," Subagio said during a working meeting to discuss the 2024 RKAB target last week at Grand Hyatt Jakarta.As an overview of the company's performance in 2023, PT Trimata Benua managed to achieve coal production of 2.1 million tons. This achievement shows the company's commitment to meet the demand for coal as an affordable and abundant energy source.PT Trimata Benua, which was established in 1996, has a mining license in Sumatra with mineable reserves reaching more than 150 million tons (JORC), with GAR 3800 as the main product. This requires collaboration with key vendor partners to achieve production targets and increase contribution to the national economy."One of the strategies to achieve the set production target is to collaborate with key vendor partners to build a synergistic approach towards achieving the production target of 5 million tons. Therefore, we encourage strong collaboration between Trimata Benua and our partners to ensure the achievement of our production target," said Subagio.Also attending the 2024 RKAB discussion meeting were PT Global Makara Teknik, PT Ombilin Fusi Nusantara, PT Trans Energi Indonesia, and PT Ombilin Energi. The presence of these partners aims to build a synergistic approach towards achieving PT Trimata Benua's production target of 5 million tons.Meanwhile, in his speech, the President Commissioner of PT Trimata Benua, Ir Mulyadi, encouraged the company to continue to be able to assist community development through planned programs. The company is committed to responsible mining practices and contributing to the energy needs of the region. He also emphasized that it is the company's responsibility to make a positive contribution to the welfare of the surrounding community."Currently, PT Trimata Benua remains committed to sustainable and responsible mining practices. The company hopes for productive collaboration with partners and continued support from the local community, prospering the surrounding community and providing great benefits for stakeholders," Mulyadi concluded. Image source: IndoposSource: https://www.indopos.co.id/ekonomi/2024/03/07/pt-trimata-benua-targetkan-produksi-batubara-5-juta-ton-pada-tahun-2024/ 

PYX Resources Ltd (googlechartLON:PYX) (googlechartNSX:PYX) the world's third-largest publicly listed zircon producer by zircon resources, is pleased to announce that it has received the modified license to export ilmenite from the Investment and One-Integrated Services Department (Dinas Penanaman Modal dan Pelayanan Terpadu Satu Pintu/ DPMPTSP). With immediate effect, the Company can now start exporting ilmenite and delivering on orders placed before the modification of the license.As previously announced, in December 2023, the Industrial and Trade Department for Export Tax Billing introduced an additional requirement to the export license, which stipulates the requirement to use two types of Ports, a Loading and Export Port. (See announcement on 5th January 2024). This has now been obtained for ilmenite. PYX will be using the Banjarmasin port for loading and the Jakarta port for export.As previously stated, PYX has been producing and stockpiling ilmenite and rutile since 2022 (see announcements on 12th January 2022 and 27th June 2022), and by the end of December 2023 had accumulated 10kt of Titanium Dioxide material (pre-audit). The start of shipping ilmenite will represent a significant milestone for the Company and significantly strengthen its financial position. Further updates on the start of shipping will be provided in due course as appropriate.PYX's Chairman and Chief Executive Officer Oliver Hasler said, "It has been a good start to 2024, and we are delighted with the quick turnaround in which we received our revised export license. We remain well positioned to deliver on the orders placed throughout 2023 and are hopeful that we can update shareholders on the commencement of shipping imminently."Image source: ABN Newswire / Pyx ResourcesSource: https://www.abnnewswire.net/press/en/124046/Pyx-Resources-Limited-(LON-PYX)-to-Start-Shipping-Ilmenite.html 

State-owned metal mining company PT Timah Tbk (TINS) stock shot up in the first trading session on Friday (8/3/2024), supported by the increase in world tin prices.As of 11:30 WIB, TINS shares flew 22.31% to IDR 740 / share. TINS shares today moved in the price range of IDR 605-IDR 750 per share.TINS shares have been traded 13,087 times with a volume of 142.39 million shares and a transaction value of IDR 99.46 billion. Its market capitalization currently reaches IDR 5.51 trillion.Until 11:30 a.m., the bid or buy order, at IDR 690 / share, was the largest buying queue in the first session today, reaching 13,300 lots or around IDR 918 million.Meanwhile, in the offer or sell order, at IDR 755 / share or the upper limit today, it became the largest selling queue in session I, reaching 89,028 lots or around IDR 6.7 billion.The increase in TINS shares also followed the surge in world tin prices, which exceeded USD 27,000 per metric ton on the London Metal Exchange (LME) yesterday.The surge in world tin prices occurred due to threats to supply from major producers and demand prospects that turned positive."Despite recent tax policy changes in Myanmar, tin mines in the Man Maw mining region remain closed. Meanwhile, Indonesian exports are now severely delayed as there is still no trading activity on the ICDX (Indonesia Commodity Derivatives Exchange) or JFX (Jakarta Futures Exchange) since the turn of the year," said Tom Langston, Tom Langston, Senior Market Intelligence Analyst, International Tin.He said that uncertainty regarding the licensing situation is further complicated by ongoing police investigations and the 2024 general elections.On the other hand, the demand for tin tends to rise, but the supply of tin is still limited, thus pushing up the global tin price.In addition to the soaring world tin prices, the rise of TINS shares was also caused by legal action from the Attorney General's Office to improve tin commodity governance, which affects the potential for increased production from the company."The efforts to improve the governance of tin commodities affect the potential increase in tin production by the company," said Timah Corporate Secretary Abdullah Umar. Image source: CNBC Indonesia / Andrean KristiantoSource: https://www.cnbcindonesia.com/market/20240308132408-17-520739/harga-timah-global-melonjak-saham-tins-terbang-22-lebih 

PT Bayan Resources Tbk (BYAN) is targeting production volume to reach 57.0 million MT in 2024. The target is an increase of 14.69 percent from the realization of production in 2023 which amounted to 49.7 million MT."Our guidance for 2024 is to produce 55.0 to 57.0 million MT of coal. Meanwhile, the coal sales volume is 55.0 to 57.0 million MT," said PT Bayan Resources Tbk Corporate Secretary Jenny Quantero in the Exchange's disclosure of information, quoted on Wednesday (6/3/2024).The coal sales volume targeted this year is up 16.53 percent to 20.76 percent from last year's sales volume of 47.2 million MT.In terms of revenue, the company is targeting in the range of USD 3.3 billion to USD 3.6 billion. This figure is not much different from the company's revenue realization in 2023, which was recorded at USD 3.58 billion.The average cash cost in 2024 is estimated in the range of USD 40.0-43.0 per MT compared to USD 40.2 per MT in 2023. The average selling price is estimated to range from USD 60.0 to 65.0 per MT, lower than the realization of the average selling price in 2023 which amounted to USD 75.8 per MT.Capital ExpenditureTo achieve this year's target, the company has prepared a capital expenditure (capex) of USD 230 to 260 million. This capital expenditure increased by 4.59-18.24 percent from the 2023 capital expenditure realization of USD 219.9 million.Image source: Bayan ResourcesSource: https://www.liputan6.com/saham/read/5543799/bayan-resources-targetkan-produksi-batu-bara-57-juta-mt-pada-2024?