PT Golden Energy Mines Tbk (GEMS) aims to increase coal production performance this year.GEMS Corporate Secretary Sudin Sudiman explained that production this year is targeted to exceed the realization of production in 2023, which reaches 46 million tons."In 2024, production is targeted at 50 million tons and can maintain good financial performance," Sudin told Kontan on Thursday (25/1).GEMS's coal production achievement, which reached 46 million tons throughout 2023, was recorded to exceed the target set at 40 million tons.Sudin added that the company realized a capital expenditure of USD 46 million for 2023. Most funds are for port facilities, hauling roads, and other operational performance support facilities.In order to smooth out the business plan this year, GEMS also increased its capital expenditure projection."In 2024, the projected capital expenditure is USD 60 million," concluded SudinImage source: GEMSSource: www.industri.kontan.co.id/Golden Energy Mines (GEMS) Bidik Produksi 50 Juta Ton Batubara pada Tahun 2024

PT Royaltama Mulia Kontraktorindo Tbk (RMKO), a listed company engaged in mining support services and heavy equipment rental, will focus on completing the hauling road in 2024. With the completion of this 39-kilometer hauling road, several coal mines in Muara Enim, South Sumatra, can be operated soon.RMKO President and Director Vincent Saputra hopes that the completion of this hauling road will increase the number of coal loads that can be transported and increase RMKO's heavy equipment rental. That way, RMKO's revenue also has the opportunity to increase."The length of the hauling road also has the potential to increase along with the increasing access to other private mines," Vincent said when contacted by Kontan.co.id on Friday (26/1).Meanwhile, the addition of heavy equipment was largely executed in 2023. When the hauling road project is completed, the company will increase the utilization of this heavy equipment. However, RMKO does not rule out the possibility of additional heavy equipment along with the integration of hauling roads with surrounding mines.RMKO, which is under the control of PT RMK Investama and a group with PT RMK Energy Tbk (RMKE), has a revenue derived from a small number of customers. In the first nine months of 2023, RMKO recorded revenue of IDR 199.08 billion, an increase of 53.60% from the same period in 2022 of IDR 129.60 billion.This revenue mostly came from the mining segment, with a nominal value of IDR119.44 billion (60%). Then, heavy equipment rental services cost IDR 51.39 billion (26%), and construction services cost IDR 28.24 billion (14%).In terms of clients, the most revenue came from RMKE owned mine, PT Truba Bara Banyu Enim (TBBE), amounting to IDR120.86 billion or 61% of total revenue. Then, from PT Royaltama Mulia Kencana, IDR62.7 billion (RMUK), and RMKE, IDR6.21 billion.TBBE is one of the company's main customers that uses coal mining and transportation services. Meanwhile, RMUK is a customer who uses services for emplacement implementation, transportation road construction, and heavy equipment rental.Indeed, RMKE owned mine, PT Truba Bara Banyu Enim (TBBE), has been operating since 2021. RMKO recorded a significant increase in revenue. RMKO's top line in 2022 reached IDR 184.87 billion, an increase of 6.5 times since the mine operated.RMKO's revenue has increased significantly since 2021, with a compounded annual growth rate (CAGR) of 7.9 times. Along with the increase in operating revenue, RMKO also managed to increase operating net profit by 7.4 times to IDR 19.08 billion by the end of 2022.Seeing this realization, Vincent believes that external clients will increase along with the completion of the hauling road, which will be integrated into coal mines in Muara Enim. RMKO also sees opportunities beyond coal mines and the South Sumatra area."Later, this hauling road will improve RMKO's operational performance, especially upstream (loading at the mine), and, in parallel, improve RMKE's operations downstream (unloading)," said Vincent.In other words, RMKO is a complement to logistics services in the upstream process, which will later support RMKE's downstream business activities that focus on coal logistics services. With the integration of upstream and downstream logistics services, the group's performance can improve continuously.Vincent said the potential of coal in South Sumatra is still very large. If the upstream and downstream infrastructure is well connected, as well as the availability of professional mining support services, he is optimistic that he can increase production capacity in South Sumatra.Regarding the depressed selling price of coal in 2024, Vincent said this had no direct effect. The reason is, as well as RMKE, RMKO is a mining contractor that provides coal transportation services that focus upstream.However, RMKO does not sell such coal. RMKO only executes mines and transports mining products upstream so that it does not affect changes in coal prices directly."The risk of coal fluctuations can be mitigated by good operational efficiency costs, such as maintaining a lower stripping ratio and efficient fuel use," said Vincent.As an illustration, PT Royaltama Mulia Kontraktorindo was established in 2017 with the initial name PT Chain Mulia Kontraktorindo. The company changed its name to PT Royaltama Mulia Kontraktorindo in 2022.In 2020, RMKO started the construction of TBBE mining infrastructure, worked on a 39-kilometer hauling road project in 2021, and began to become a mining contractor at IUP TBBE and an executor of railway coal loading activities at RMUK emplacements in 2022.Image source: RMKOSource: www.investasi.kontan.co.id/Royaltama Mulia (RMKO) Targetkan Hauling Road 39 Km Rampung di 2024

The Ministry of Energy and Mineral Resources (MEMR) revealed that it has just approved 480 work plans and cost budgets (RKAB) of coal mining companies out of around 800 RKAB in total submitted to the government. This means that, until now, there are still as many as 320 RKABs of mining companies that have not been approved or are still in process.Director of Coal Business Development of the Directorate General of Mineral and Coal of the Ministry of Energy and Mineral Resources, Lana Saria, said the stalled granting of RKAB permits to 320 companies was because there were still many problems."There are those with unpaid debts, so they are rejected, or their PPM [Community Development and Empowerment] has not been settled. The MODI's affairs are also not registered yet by the directors, so we are returning them," said Lana in Jakarta on Monday (1/29/2024).This requirement is a provision that must be obeyed by companies that want to apply for RKAB in line with the new rules regarding mining governance.The regulation is contained in MEMR Ministerial Regulation No. 10/2023 concerning Procedures for Preparation, Submission, and Approval of Work Plans and Cost Budgets and Procedures for Reporting on the Implementation of Mineral and Coal Mining Business Activities. This regulation makes it easier for companies to apply for RKAB. One of them, from the original, had to apply once every 1 year to once every 3 years.Coal illustration (Image source: Bloomberg)Substantially, the other main facilities regulated in the regulation signed in September 2023 are the fulfillment of essential aspects in the preparation of RKAB and the efficiency of the timeline.Then, the ministry has also created the E-RKAB platform as an effort to digitize monitoring, evaluating, and facilitating the submission of RKAB with ease.The platform is under the instructions in the MEMR Ministerial Decree Number 373 3.K / MB.01 / MEM. B/2023 concerning Guidelines for the Implementation of Preparation, Evaluation, Work Plan Approval, and Cost Budget in Mineral and Coal Mining Business Activities.In that regard, Lana said, the RKAB approval process depends on the company's sincerity in completing the returned documents by existing provisions."Everything must be organized and settled first, before applying to us again. It's up to them to sort everything out so they can do their activities again."Citing data from Minerba One Data Indonesia (MODI) of the Directorate General of Mineral and Coal of the Ministry of Energy and Mineral Resources until January 29, 2024, MEMR recorded to have granted as many as 916 coal mining business permits (IUP).In detail, the total licenses consist of 9 coal exploration licenses and 910 coal production operation permits.Image source: Dimas Ardian/BloombergSource: www.bloombergtechnoz.com/ESDM Sebut 320 RKAB Tambang Batu Bara Belum Disetujui

PT Bumi Resources Tbk. (BUMI) prepares capital expenditure (capex) funds of USD 40 million to USD 80 million."BUMI still has extensive large coal reserves and resources in KPC and Arutmin, so the 2024 capex funds to be used are USD 40 million to USD 80 million," said BUMI Director/CFO Andrew Beckham.The volume of coal production in 2024 will reach 80 million tons, yet until now, BUMI has not finalized this year's performance target.In addition, the company also views that coal prices can still increase in 2024, in line with the situation of world geopolitical uncertainty and winter, which have an impact on the high demand for coal for electrical energy.As a result of the very favorable weather conditions in the mining area, until the end of September 2023, BUMI recorded a total production of 56.2 million tons. This figure increased by 5% compared to the same period of 53.7 million tons last year.In addition, the company, a joint venture between the Bakrie Group and the Salim Group, will carry out various expansion plans in the next few years.One of the main agendas is to expand into the downstream coal industry to support the government's target for Indonesia's decarbonization.This is also part of the requirements for the extension of Mining Business Licenses (IUPK) in BUMI's two subsidiaries, PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia (Arutmin)."The company is very open to exploring strategic partnerships in order to efficiently and effectively finance this downstream project," said BUMI Director and Corporate Secretary Dileep Srivastava."We are also looking for the latest technology, potential buyers, ESG-supporting funding, profits, and policies that support companies to get attractive incentives from the government for the creation of sustainable energy," added Dileep.Image source: BUMISource: www.liputan6.com/Begini Rencana Ekspansi BUMI Resources, Siapkan Capex Hingga USD 80 Juta di 2024

PT Bumi Resources Tbk. (BRMS) believes gold prices will be above USD 2,000 per troy ounce and will support performance throughout 2024.Bumi Resources Director Herwin W. Hidayat said BRMS sees the possibility that gold prices will be in the range of USD 2,000 per troy ounce or even higher. This confidence is supported by geopolitical conditions and the possibility of a Fed rate cut."These factors have an impact on the strengthening of of gold prices which are still seen as safe haven investments. Several institutions such as JPMorgan, Goldman Sachs, and UBS also predict gold prices above USD 2,000 per troy ounce in 2024," Herwin told Bisnis, Tuesday (1/16/2024).Herwin explained geopolitical factors that are still quite vulnerable such as the continuation of the Russia-Ukraine war, conditions in Gaza-Israel, and conditions in Yemen. Furthermore, the Fed is also quite stable in maintaining interest rates in the second half of 2023 which range from 5.25-5.5%.Based on Bloomberg data on Tuesday (1/16/2024) at 18.00 WIB, comex gold prices fell 0.40% to USD 2,045 per troy ounce while spot gold also fell 0.84% to USD 2,039 per troy ounce.In the midst of the gold price projection, BRMS believes there will be a significant increase in gold production and sales in 2024. However, Herwin admitted that these references and targets would still be discussed internally considering that 2023 performance was still in the auditing stage."However, we can say that the company's estimated gold production for the full year 2023 period can reach around 20,000 - 25,000 troy ounces of gold. This number has increased significantly considering the performance of BRMS gold production in 2022 which amounted to 5,400 troy ounces," he said.The underlying belief in increasing BRMS production throughout 2024 is an increase in the capacity of the second plant, then the third plant in Palu which will start operating in the third quarter of 2024."Assuming gold prices can stay in the range of USD 2,000 per troy ounce, the impact will be very positive on BRMS's financial performance," explained Herwin.Image source: bumiresourcesminerals.comSource: www.market.bisnis.com/Bumi Resources (BRMS) Pede Harga Emas di Atas US$2.000 Sepanjang 2024

Management and employees, as well as partners of PT Berau Coal, held a ceremony to commemorate National Occupational Safety and Health Month (BK3N) 2024 at the yard of the Head Office of PT Berau Coal in Berau on Thursday (11/1/24).Also present at the activity were the Head of the Berau Regency Manpower and Transmigration Office, Zulkifli Azhari; Acting Head of the Berau Regency Health Office, Halijah Yasin; Director of Operations and HSE of PT Berau Coal, Arief Wiedhartono; and Head of Mining Engineering of PT Berau Coal, Feri Indrayana.Head of Mining Engineering at PT Berau Coal, Feri Indrayana, revealed that the commemoration of National K3 Month in 2024 carries the national theme "Culture K3, Healthy and Safe at Work, Maintained Business Sustainability.".PT Berau Coal area carried the sub-theme "Improving Mining Safety Management". Indrayana said the company is committed to adopting good and safe mining practices."The sub-theme is in line with the direction from the Directorate of Environmental Engineering, Mineral & Coal/Chief Inspector of Mines, so that all companies in mineral and coal mining can make efforts to manage mining safety properly in accordance with good mining practices and there are no mining accidents, especially cases of accidents that result in death or fatality," he said.PT Berau Coal will hold various activities to incrhease awareness and commitment to occupational safety and health (K3). These activities include training, seminars, and workshops designed to provide a deeper understanding of the importance of K3 in the work environment.He explained that the commemoration of K3 Month in 2024 is not only an event but also a very important strategic momentum for all of us. Through this commemoration, it reminds us of the urgency of mining safety, including K3 (Occupational Safety and Health) and KO (Operation Safety).PT Berau Coal's Director of Operations and HSE, Arief Wiedhartono, revealed that the company's achievements in 2023 without mining accidents resulting in loss-time injuries show their commitment to high K3 standards. He also stated that the K3 Month is part of the company's responsibility in implementing the government's mandate."In 2023, we are grateful that there are no accidents resulting in lost time injuries at PT Berau Coal. This is a positive proof of the commitment and performance of Occupational Safety and Health in the company. Hopefully this spirit will continue to grow and be an inspiration for all workers to maintain the sustainability of K3 performance in the future," he concluded.Head of the Berau Manpower and Transmigration Office, Zulkifli Azhari, stated that the declaration of the K3 Month is a government mandate that is carried out every year. The aim is to raise awareness of occupational safety and health as part of productivity and business continuity.Although this commemoration is focused on one month, he emphasized that safety is not temporary but needs to be maintained on an ongoing basis. Continuity in K3 implementation is the main key to achieving this goal.Head of the Berau District Health Office, Halijah Yasin, expressed her appreciation to PT Berau Coal for being in line with the minimum standards of occupational health. He also emphasized the importance of collaboration between companies and health agencies in maintaining occupational health and safety.Meanwhile, the Head of the Berau Regency Health Office, Halijah Yasin, highly appreciated the implementation of K3 Month by PT Berau Coal. He felt glad because the activity was in line with the minimum standards and objectives set by the health office."The hope is that the implementation of K3 Month in the future will be better. Able to strengthen awareness and commitment to occupational safety and health, as well as create a safe and healthy work environment for all workers in Berau Regency," he concluded.Image source: kaltimtoday.coSource: www.kaltimtoday.co/Bulan K3 Nasional 2024, PT Berau Coal Fokus Tingkatkan Standar Keselamatan Pertambangan

PEFINDO assigns PT Merdeka Copper Gold (MDKA) idA+ ratings for Shelf-Registration Bond IV Phase II Year 2023 worth IDR2,500 billion maturing on March 15, 2024, and Shelf-Registration Bond II Phase I Year 2021 Series B worth IDR940.4 billion maturing on March 26, 2024.MDKA plans to refinance part of its maturing bonds using a combination of funds from bond issuances, loan facilities from banks, and internal funds. As of December 31, 2023, the company had cash and cash equivalents of USD 228.5 million (excluding cash belonging to PT Merdeka Battery Materials Tbk).MDKA was established in 2012 and is engaged in mining activities. Currently, the company has several projects located in Tujuh Bukit in Banyuwangi and Pani in Gorontalo for gold mining; Wetar Island, Maluku for copper mining; Konawe in Southeast Sulawesi for nickel mining; and Acid Iron Metal (AIM) projects, RKEF smelters, and nickel matte converters in Indonesia Morowali Industrial Park (IMIP), Central Sulawesi.MDKA also in the process of building high-pressure acid leaching (HPAL) plants in IMIP and Indonesia Konawe Industrial Park (IKIP). As of September 30, 2023, the company's shareholders are PT Saratoga Investama Sedaya Tbk (18.599%), PT Mitra Daya Mustika (12.058%), Garibaldi Thohir (7.358%), PT Suwarna Arta Mandiri (5.588%), ISV SA Hongkong Brunp & CATL Co., Limited (5.000%), and others, including public and treasury shares of MDKA (51.397%).Image source: EmitenNews.comSource: www.emitennews.com/Niat Bayar, Pefindo Beri Peringkat Obligasi Merdeka Copper Gold (MDKA) idA+

Indonesia produced 535,200 metric tons of nickel in ferronickel and 71,400 tons of nickel matte in 2023, data from the mining ministry showed on Tuesday.The ferronickel output last year rose annually, but came below the 628,600 tons targeted for that year, the data showed.Image source: REUTERS/Yusuf AhmadSource: www.nasdaq.com/Indonesia produces 535,200 metric T of nickel in ferronickel in 2023 -mining ministry

PT Vale Indonesia Tbk. (INCO) targets the divestment of shares to MIND ID Mining SOE Holding to be completed in 2024.Filia Alanda, Corporate Secretary of INCO, said that the company had never received an ultimatum from the government regarding the divestment process. However, the Ministry of Energy and Mineral Resources (MEMR) conveyed to INCO the importance of immediately completing the divestment process."The divestment process is one of the prerequisites to obtain an extension of the KK Contract of Work in the form of a special mining business license (IUPK) and provide certainty for Vale Indonesia's investment," he explained in a written statement, Thursday (1/18/2024).Regarding the divestment plan, INCO has submitted it on November 20, 2023. INCO together with Vale Canada Limited (VCL), PT Mineral Industri Indonesia (Persero) or MIND ID, and Sumitomo Metal Mining Co., Ltd (SMM) have signed a Master Divestment Agreement.The agreement stipulates that VCL and SMM will transfer their proportional shareholding in INCO of around 14% to MIND ID. The transaction is expected to close in 2024."Until now, negotiations are still ongoing at the shareholder level and INCO is committed to supporting the completion of the divestment process within the targeted time," said Filia AlandaThis divestment is a requirement for the extension of KK to IUPK. The Company has applied for IUPK in April 2023 as a form of extension of the KK which will end in December 2025.Currently, the Ministry of Energy and Mineral Resources is still evaluating the company's application and supporting documents. The divestment process is currently ongoing at the majority shareholder level and INCO is committed to continue supporting the process as part of the IUPK issuance.On the other hand, currently INCO's operational activities are still running normally and there is no impact on the divestment process on operational activities.MEMR StatementPreviously, Minister of Energy and Mineral Resources (MEMR) Arifin Tasrif requested that the transaction of the remaining divestment obligations of PT Vale Indonesia Tbk. (INCO) be completed in the near future.Arifin said, the government would take other options if the obligation to divest INCO's foreign shareholders dragged on."We hope that the deal will be implemented soon. If it cannot be implemented in a relatively short time, we will think differently," Arifin said during a press conference in Jakarta, Monday (1/15/2024).However, Arifin was reluctant to specify other possibilities that would be taken by the government if the transaction of transferring foreign shares to the mining state-owned holding, PT Mineral Industri Indonesia (MIND ID) was deadlocked."That's just the signal," he said.Previously, in an official statement from INCO, the transaction of releasing 14% of shares to MIND ID was expected to be completed in 2024 subject to the usual closing conditions. Upon completion, MIND ID will become Vale Indonesia's largest shareholder with 34%.Meanwhile, Vale Canada Limited, as a subsidiary of Vale Base Metals Limited, will hold around 33.9% of the shares, while Sumitomo Metal Mining Co., Ltd. will hold around 11.5%.Currently, Vale Canada Limited, as the controller of Vale Indonesia, holds 4.35 billion shares, or 43.79%. Then Sumitomo Metal Mining Co., Ltd. owns 1.49 billion shares, or equivalently 15.03%.MIND ID's share ownership is currently recorded at 1.98 billion shares, or equivalent to 20%, while public ownership reaches 2.02 billion shares, or equivalent to 20.38%.Vale Base Metals Limited Chief Executive Officer and Vale President Commissioner Deshnee Naidoo said the divestment master agreement at the end of last year was a significant step towards fulfilling divestment obligations in Indonesia.Image source: Bisnis-Paulus Tandi BoneSource: www.market.bisnis.com/Vale Indonesia (INCO) Targetkan Divestasi ke MIND ID Rampung 2024

Astra Group entity in the mining sector, PT United Tractors Tbk. (UNTR), hoisted its gold production target in 2024 compared to the previous year.United Tractors Corporate Secretary Sara K. Loebis said UNTR has a gold sales target of 235,000 ounces throughout 2024. This target is higher than 2023, which is estimated at 175,000 ounces."Higher than in 2023, which is estimated to be 175,000 oz, but not final," he told Bisnis on Tuesday (1/16/2024).UNTR's gold business performance tended to decline last year. UNTR's gold mining business unit, run by PT Agincourt Resources, will decline in the 11-month period of 2023.Agincourt recorded that total gold equivalent sales from the Martabe gold mine decreased 36.82% yoy to 166,468 troy ounces as of November 2023, compared to the same period in 2022 of 263,492 troy ounces.Sara K. Loebis said that throughout 2024, UNTR will allocate capital expenditure of IDR 1.8 trillion for the development of gold business lines. The funds will be used for exploration activities and improvement of mining facilities throughout 2024."Capex is for exploration and improvement of mining facilities. There are no plans for the acquisition of gold mines," Sara saidUNTR currently has two gold mines in operation, the Martabe Mine in North Sumatra and Sumbawa Jutaraya (SJR) in Sumbawa.In the previous Business report, United Tractors Director Edhie Sarwono said that in early 2024, UNTR Group will start gold mining operations through PT Sumbawa Juta Raya (SJR). Production capacity is expected to reach 40,000 troy ounces per year."Next year's SJR gold mine will start operating, predicted in the second half of 2024. The initial production capacity is 40,000 troy ounces, and is expected to be optimal at 65,000 troy ounces per year in 2025," he explained at the Astra Tower, Wednesday (7/6/2023).According to him, SJR's gold production rate will stabilize in the range of 65,000 troy ounces in 10 years, calculating the total reserves that exist today.Meanwhile, at the Martabe gold mine, UNTR conducts mining through PT Agincourt Resources. By 2023, it is estimated that production and sales volumes will reach 240,000 troy ounces.Image source: Bloomberg-Dadang TriSource: www.market.bisnis.com/United Tractors (UNTR) Kerek Target Produksi Emas pada 2024