PT Freeport Indonesia (PTFI) has a gold production target of 1.8 million ounces by the end of 2023. PTFI President Director Tony Wenas said that currently the company has succeeded in producing 881 thousand ounces of gold.Tony also said that during HI 2023, he had succeeded in producing 735 million pounds of copper from the target of 1.6 billion pounds."We are performing quite well in terms of production. Copper 735 million pounds and gold 881 thousand ounces. 735 million pounds of the 1.6 billion pound plan, so roughly half, looks on target. "If gold is 881 thousand ounces from the target of 1.8 or 1.9 million ounces, this is still in line with our forecast or even more," explained Tony, quoted Friday (1/9/2023).Furthermore, Tony said, his party hopes that by the end of 2023, the sales target of gold of up to 1.8 million ounces and copper of up to 1.6 billion pounds can be achieved."It is hoped that by the full year we will be able to achieve sales of 1.6 billion pounds of copper and 1.8 million ounces of gold. Stay on target," he added.It is known that Freeport's gold production during January-March 2023 was recorded at 402 thousand ounces and gold sales were recorded at 266 thousand ounces. The average price of gold in the first quarter of 2023 is US$ 1,949 per ounce.Meanwhile, Freeport's copper production was recorded at 329 million pounds during the first quarter of 2023 and copper sales reached 198 million pounds. The average selling price for copper is around US$ 4.07 per pound."The level of ore processing from PTFI's underground mines averaged 164,800 metric tons of ore per day in the first quarter of 2023. PTFI targets the ore processing rate to exceed 200 thousand metric tons per day for the remainder of 2023," said Chairman & CEO of Freeport McMoran Richard C. Adkerson some time ago.Please note, since 2018, Indonesia has officially become the majority shareholder of PT Freeport Indonesia amounting to 51.2% through the MIND ID Mining BUMN Holding.The acquisition value to become Freeport's majority shareholder reached US$ 3.85 billion or the equivalent of IDR 55.8 trillion at that time. This acquisition marks an increase in Indonesian ownership in PTFI from only 9.36% to 51.23%.Image source: www.bicaraindonesia.netSource:  www.talkindonesia.net/Freeport Indonesia Targets 18 Million Tons of Gold Production in 2023

The Ministry of Energy and Mineral Resources (ESDM) stipulates the Work Plan and Expenditure Budget (RKAB) for mineral and coal mining companies to be valid for three years, from the current one year.This change is related to the Attorney's steps in naming a number of suspects, including the former Director General of Mineral and Coal at the Ministry of Energy and Mineral Resources with the initials RD who was implicated in a corruption case related to the RKAB determination.ESDM Minister Arifin Tasrif said the RKAB applies to mining companies entering the production phase. He emphasized that the implementation of this new provision will start next year. "Formerly the RKAB for production is now given 3 years every year," said Arifin in Jakarta, Thursday (31/08/2023).Arifin said, another arrangement is by applying information technology in the process of ratifying the RKAB. This effort is expected to accelerate the ratification of the RKAB and be transparent. He said the improvement of information technology continues to be accelerated because it is targeted to be implemented next year.It is said, the Ministry of Energy and Mineral Resources handles 6,000 RKAB submissions annually after the stipulation of Law no. 3 of 2020 concerning Mineral and Coal Mining. The regulation allows the authority of the local government to be transferred to the central government in ratifying the RKAB. Arifin said the ESDM Ministry had tried to speed up the process by simplifying the requirements. "We have simplified the 27 requirements into 5," he said.Separately, the Chairman of the Indonesian Mining & Energy Forum (IMEF) Singgih Widagdo said that the complexity of managing the mining industry is currently very hard to deal with as it is solely the responsibility of the Ministry of Energy and Mineral Resources. The presence of laws and policies in integrating and coordinating the interests of the Government, Corporations and the People, often creates a conflict of interest itself.The legal issues that must be faced by various officials in various echelons of the Ministry of Energy and Mineral Resources, make it clear and show that managing the mining industry in this political space becomes very complex. Accelerating and facilitating a policy to manage various interests in the mining industry can actually be a potential violation of the law for the officials concerned in the future."If this condition is neglected, without substantial improvement, IMEF estimates that there will be a slowdown in investment in the mining sector which will have an impact on reducing state revenues, employment and development equity, as well as economic growth in the next few years," he said.Singgih said the three-year RKAB was the right step. From the corporate side, investment and return can be calculated more measurably. This applies to mining companies and mining service companies. As for the government, it can optimize the management of national production in the context of export and domestic markets.However, Singgih reminded the government that in determining national production, they should first consider the map of potential commodity markets, especially coal. Taking into account market parameters, production capacity, geological and mining conditions as well as environmental aspects, it forms the basis for awarding the RKAB."Integration of the various parameters that are currently managed by the central government will actually be more optimal in managing natural resources in maintaining the balance of the export market, DMO needs," he said.Meanwhile, the Executive Director of the Indonesian Coal Mining Association (APBI) Hendra Sinadia said that his party had not officially proposed ratification of the RKAB every three years. APBI is waiting for the latest policy made by the Ministry of Energy and Mineral Resources. "We are waiting for further policies from the Government, including if later the RKAB is 3 years, whether proposed changes can be made every year or what it is," he said.Image source: IstimewaSource: www.investor.id/Mulai Tahun Depan RKAB Minerba Berlaku Tiga Tahun

Thiess has been awarded an A$240 million nickel mining contract with PT Halmahera Sukses Mineral, marking Thiess’ second successful venture in the Indonesian nickel market this year and reflecting its capability to deliver world-class mining solutions for the metals industry.During this 3.5 year contract, Thiess will deliver full mining operations including mine development, haul road construction, ore loading and hauling. The mine is situated in Central Halmahera, North Maluku, just 6 km from another Thiess operation, therefore consolidating its regional footprint and operational efficiency.Thiess Executive Chair and CEO Michael Wright said: “We are excited by this new contract award, which underscores Thiess’ expertise and strong track record in the Indonesian mining industry. It reaffirms our commitment to providing safe, sustainable, and innovative solutions to our clients while contributing to the growth of Indonesia’s nickel industry, a metal critical to enabling the global energy transition.”Thiess Group Executive – Asia Cluny Randell said: “This contract win aligns with Thiess’ strategy to diversify our commodities portfolio. Our focus on safety, technological advancement, and inclusion sets us apart. We are excited to continue building strong partnerships in the Indonesian nickel sector.”The mining services major adds: “In line with Thiess’ commitment to health and safety, comprehensive measures will be put in place to ensure the safety and well-being of the team. Further, Thiess will continue its dedication to diversity, equity, and inclusion by launching its female operator training program, aimed at fostering greater female participation in the mining workforce. The company remains committed to operational excellence and contributing positively to the communities and environments in which it operates.”Image source: Paul MooreSource: www.im mining.com/Thiess Awarded Second Indonesian Nickel Mining Contract

Nickel Industries Limited won the TrenAsia ESG Award 2023 in the Nickel company category with the title Sustainability . Chief Executive Officer (CEO) of PT Tren Media Berjejaring Sukirno explained that this award is given to companies that are committed to implementing business principles that focus on environmental, social, and governance (ESG) aspects ."Congratulations to Nickel Industries Limited for winning the 2023 TrenAsia ESG Award in the Nickel company category. "Hopefully this award can be a motivation and example for other companies in Indonesia," he said shortly after giving awards to the winners at the Raffles Jakarta Hotel, Wednesday, August 30 2023.Nickel Industries Limited is committed to not causing negative impacts on the environment and to creating a positive legacy throughout its operational areas, from the exploration stage to the rehabilitation and closure process.Nickel Industries Limited Sustainability Manager Muchtazar said the TrenAsia ESG Award 2023 provides a comprehensive assessment of a company's sustainability performance from a multi-stakeholder perspective, such as government representatives, business actors, academics, media, as well as experts and practitioners in the field of ESG. "Therefore, the award we received is very important to increase the credibility of the company's sustainability programs," said Muchtazar in an interview with TrenAsia .Muchtazar revealed that ESG is very essential for the continuity of the company's operations. It is known that nickel-producing companies are needed for the manufacture of stainless steel materials, batteries , and environmentally friendly technologies. Nickel Industries Limited wants to prove that a responsible and environmentally friendly nickel mining and processing process can be carried out. This is to support business partners, customers and company shareholders to collaborate further. Without strong ESG implementation, Muchtazar said that the benefits of nickel cannot be felt optimally by industry and society."We thank TrenAsia for organizing this event and hope that a similar event can be held again in the coming years," he said.Meanwhile , Expert Council of the National Committee for Governance Policy (KNKG) Mas Achmad Daniri believes that with ESG practices, companies are not only oriented towards pursuing profits and large returns, but focus on how these profits have a positive impact on the environment and society. This is also proven by companies that have prioritized ESG, are more resilient and able to provide sustainable investment results .The TrenAsia ESG Award 2023 jury team consists of Shinta Widjaja Kamdani, Chairperson of the Indonesian Employers' Association (Apindo) and Deputy Chairperson Deputy Chairperson of the Coordinator for Maritime, Investment and Foreign Affairs of the Indonesian Chamber of Commerce and Industry; Mas Achmad Daniri, Expert Council of the National Committee on Governance Policy (KNKG); Maria Rosaline Nindita Radyati, President Director of the Institute for Sustainability & Agility ; and Adhitya Noviardi, Editor-in-Chief of TrenAsia.com.The TrenAsia ESG Award 2023 has screened more than 115 companies in 29 industrial subsectors, which were assessed based on ESG implementation and its derivative variables. The judging process starts from June to August 2023, based on the company's sustainability reports and annual reports for the 2021 and 2022 periods.Image source: TrenAsiaSource: www.trenasia.com/Hengjaya Mineralindo Menangkan Tren Asia ESG Award 2023 Kategori Perusahaan Nikel

PT Bumi Resources Tbk (BUMI) won a prestigious award, in the category of Coal Champion for ESG & Sustainability Business Principles TrenAsia 2023.BUMI President Director, Adika Nuraga Bakrie emphasized that his party would like to express its gratitude for the prestigious Coal Champion for Sustainability award in the 2023 ESG Award."BUMI's commitment with business units has always supported government programs in the success of SDG's activities. The commitment made by the company is not just a program, but has become a core business competency that has been embedded in BUMI and its business units," said Adika in a statement, Monday, 4 September 2023.Therefore, Adika ensures that BUMI will be able to implement best practices, and contribute to creating independence in society.This will of course also contribute directly to the realization of the SDGs and aspects of Environmental, Social and Governance (ESG), as stated in Law no. 40 of 2007 concerning Limited Liability Companies."Through good mining practices, we want to grow, develop and be sustainable with the surrounding community at our operational locations," said Adika."We believe we can achieve this through good corporate governance, transparent monitoring of system operations, and public concern for food security, agribusiness, water and waste management," he said.Chief Executive Officer (CEO) of PT TrenMedia Berjejaring, Sukirno said, this award is given to companies that are committed to implementing environmental, social and governance (ESG) business principles."Congratulations to Bumi Resources for winning the TrenAsia ESG Award 2023 in the coal company category. Hopefully this award can be a motivation and example for other companies in Indonesia," said Sukirno."We believe we can achieve this through good corporate governance, transparent monitoring of system operations, and public concern for food security, agribusiness, water and waste management," he said.Congratulations to Bumi Resources for winning the TrenAsia ESG Award 2023 in the coal company category. Hopefully this award can be a motivation and example for other companies in Indonesia," said Sukirno.Image source: Bumi Resources documentation.Source: www.viva.co.id/Bumi Raih Penghargaan Coal Champion for ESG AMP Sustainability Business Principles 2023

SummarySingapore-based low-calorie coal producer Geo Energy diversified its business, marking its entry into the electric vehicle sector with an investment in Charged Asia (CAPL), a prominent electric motorcycle manufacturer based in Singapore.The newly established subsidiary of Geo Energy, named Geo Electric, is facilitating this venture by disbursing a US$4 million loan to CAPL. Under the loan term, Geo Electric has secured the right to convert the principal loan amount, along with accrued interest, into equity shares within CAPL. According to Geo Energy, the loan has an annual interest of 12 percent for 24 months or until conversion, whichever is earlier. Geo will also have an option to further increase its investment in CAPL up to an additional US$36 million to become the majority shareholder.Our ViewCAPL has developed three motorcycle models and delivered more than 1,000 units in Indonesia, Malaysia, and Vietnam.Geo said CAPL has established a strong foothold in Indonesia with the potential to scale up its presence. The coal producer will collaborate with CAPL to grow its business towards becoming a key player in the Asia-Pacific EV industry.In December 2022, Charged Indonesia entered into a strategic investment agreement with Vmoto Soco Group valued at US$38 million.This investment is intended to expand Charged Indonesia's Electric Vehicles as a Service (EVaaS) business in Indonesia and other Southeast Asian countries. Priorly, Charged secured an initial funding of US$4.5 million from DeClout Ventures.Charged Indonesia has produced electric motorcycles including Charged Anoa, Charged Rimau, and Charged Maleo for both business-to-business (B2B) and business-to-consumer (B2C) customers in November 2022.For these electric motorcycle models, the company acquired technological know-how from Vmoto Soco Group. Additionally, Charged Indonesia has completed factory commissioning for the 16,000 square meter Giga shed located in Cikupa, Tangerang, Banten.Currently, all Charged Indonesia motorcycles use CATL batteries produced by the Chinese company that stands as the world's largest electric vehicle battery manufacturer.Geo Energy follows in the footsteps of coal producers venturing into the electric vehicle sector. Notably, PT Indika Energy Tbk (INDY) has collaborated with Alpha JWC and Horizon Ventures to manufacture ALVA brand electric motorcycles.Further, PT TBS Energi Utama Tbk (TOBA) has partnered with PT GoTo Gojek Tokopedia Tbk (GOTO) to produce Electrum motorcycles.These entities recognize that future revenues from the coal business are poised to diminish in tandem with the eco-friendly energy consumption trend.The electric vehicle sector could potentially serve as a revenue-generating engine for companies, especially as more individuals transition from conventional vehicles to electric alternatives.According to research from the International Renewable Energy Agency (IRENA) and the Ministry of Energy and Mineral Resources (ESDM), the projected number of electric vehicles in Indonesia is set to reach 20 million units by 2030 under the planned energy scenario (PES).To break it down, electric cars are expected to surge to 7 million units by 2030, while the number of electric motorcycles is projected to rise to 13 million units. By 2050, the electric vehicle count is expected to skyrocket to 89 million units, encompassing 42 million electric cars and 47 million electric motorcycles.Image source: dinsights.katadata.co.idSource:  www.dinsights.katadata.co.id/Geo Energy Invests In EV Producer Charged Asia

PT United Tractors Tbk (UNTR) through its subsidiary, PT Danusa Tambang Nusantara (DTN), will finalize the acquisition of two nickel companies, namely PT Stargate Pacific Resources (SPR) and PT Stargate Mineral Asia (SMA), worth USD 270 million or the equivalent of IDR 4.1 trillion.UNTR Corporate Secretary Sara K. Loebis said, until now the status of the acquisition transaction is still in the Conditional Share Sale and Purchase Agreement (CSPA) stage.Both sides, continued Sara, are preparing several conditions with the target of settlement at the end of this year."The transaction value at the time the information was disclosed at the end of December 2022 was around USD 270 million. However, this value is not final, depending on the final agreement at the closing ," Sara told Investor Daily, in Jakarta, Monday (28/8).SPR is a company that holds a mining business permit for nickel production operations in North Konawe, South Sulawesi. While SMA is a company that holds a permit to develop and operate a smelter.Strengthening UNTR to the new renewable energy (EBT) business is the company's effort to support the transition to renewable energy. "So, any type of mineral as long as it has a role in the renewable business is of interest to us," said Sara. That's why, continued Sara, the company is still looking for a renewable energy business that has good potential in the long term.Image source: CompanySource: www.investor.id/Akhir Tahun United Tractors UNTR Targetkan Penyelesaian Akuisisi 2 Perusahaan Nikel

PT Adaro Energy Tbk (ADRO) through its subsidiary has pocketed financing (financial close) for the construction of its aluminum smelter with an acquisition value of IDR 2.5 trillion.As is well known, Adaro Minerals Indonesia (ADMR) intends to develop an aluminum smelter and related supporting facilities under PT Kalimantan Aluminum Industry (KAI).The aluminum smelter project with a capacity of 500,000 tons per year is located in an industrial area in North Kalimantan, Indonesia.In the second quarter of 2023, KAI has also completed land preparation, earthworks and jetty construction for the project. KAI is also continuing to build temporary dormitories for employees and other infrastructure facilities.President Director and Chief Executive Officer Garibaldi Thohir admitted that this financial close step was a good stepping stone for his company."Fulfillment of the financing obtained for the aluminum smelter and related supporting facilities is a significant event in Adaro's business expansion into the mineral processing sector," Said State Owned Minister Erick Thohir, quoted on Wednesday (23/8/2023).It is also committed to seeking an optimal balance between shareholder returns and business expansion.It is known, in the first half of 2023, the production volume of ADRO and its subsidiary companies reached 33.41 million tonnes, up 19% from the same period last year. The sales volume target for 2023 ranges from 62-64 million tonnes.Meanwhile, sales of metallurgical coal through its subsidiary, ADMR, increased 42% to 1.82 million tonnes in 1H23. Previously, ADMR targeted sales volume in the range of 3.8-4.3 million tonnes this year.Image Source: ADMRSource: www.cnbcindonesia.com/ADMR Kantongi Rp 25 T Buat Bangun SmelterAluminium

PT Indonesia Asahan Aluminum (Inalum) targets aluminum production to increase to 300 thousand tons in 2024. Main Director of INALUM Danny Praditya revealed that this additional production was supported by the completion of an increase in production facilities from the existing smelter in Kuala Tanjung."Contractually until August 2024 it will be completed and increase production capacity from 250 thousand to an additional 25 thousand and optimization is expected to add 25 thousand so that the total output is 300 thousand tons per year," said Danny in a Hearing Meeting (RDP) with Commission VII DPR RI, Thursday (24/8).Danny explained, currently the total need for aluminum for the domestic market reaches 1.2 million tons per year. It is noted that domestic aluminum production has only been carried out by Inalum. Thus, much of the demand for aluminum still has to be met from the import market.Seeing this opportunity, Danny emphasized that two strategic initiatives for the expansion of brownfield and greenfield aluminum are very important to meet domestic demand.For this reason, currently Inalum is focusing on completing the Smelter Grade Alumina Refinery (SGAR) project with PT Aneka Tambang Tbk (ANTM).Phase I of the project is expected to start operating in the second half of 2024. In parallel, Inalum will also search for strategic partners to work on phase II of this project."This is also needed to meet the need for brownfield and greenfield expansion from aluminum smelters," explained Danny.Meanwhile, the US$ 830 million project is being managed by a joint venture between Inalum and Antam, namely PT Borneo Alumina Indonesia. In the joint venture, Inalum holds a 60% stake and Antam holds 40%.Image source: DOK/MIND IDSource: www.industri.kontan.co.id/Inalum Siap Kerek Produksi Aluminium Menjadi 300 Ribu Ton Per Tahun

PT IMC Pelita Logistik Tbk ( PSSI ) is optimistic that demand for transportation will still be high until the end of the year. At the same time, PSSI is targeting an increase in the top line and bottom line.Corporate Communication of IMC Pelita Logistics Hariman Chalid explained that until the end of 2023, his company targets to pocket a net profit of US$ 42 million with revenues of US$ 104 million.Hariman said that his party was optimistic that they could record growth because coal is still a flat industry need in 2023. PSSI projects that the demand for coal transport will still be maintained."We have pocketed both short and long term work contracts with consumers. So there is already a guaranteed transport volume of around 80%–85% in 2023," he told Kontan, recently.As of June 2023, PSSI managed to record operating revenues of US$ 53.27 million, down 5.18% on an annual basis from US$ 556.19 million. This means that PSSI has pocketed 51.22% of the revenue target.Even so, profit for the period attributable to the owners of PSSI's parent entity reached US$ 30.05 million. This value jumped 60.08% year-on-year from US$ 18.75 million.As of semester I-2023, PSSI already has one new tugboat alias tugboat. This year, IMC Pelita Logistics targets to add several new ships."The estimate for the addition of ships is around five to six units. We see the need, market demand for transportation services and the price of ship materials," he said.However, the increase in net profit was mainly supported by gains from the sale of fixed assets owned by IMC Pelita Logistik amounting to US$ 15.68 million. This post increased 365.07% from US$ 3.37 million.Main Director of IMC Pelita Logistics Iriawan explained, his party had rejuvenated its fleet to seize business diversification opportunities throughout the second quarter of 2023."We divested several inefficient and high-cost ship assets in the second quarter as part of our asset rejuvenation initiative," explained Iriawan. Image source: KONTAN/Amalia Nur FitriSource: www.investasi.kontan.co.id/IMC Pelita Logistik PSSI Bidik Laba Bersih US 42 Juta Di 2023