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21 Jul 2022, 08:34 AM

Vale Indonesia, China's Huayou sign agreement with Ford for nickel plant

www.reuters.com
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Nickel miner Vale Indonesia, China's Zhejiang Huayou Cobalt and U.S. car maker Ford Motor signed a non-binding memorandum of cooperation to build a plant in Indonesia to extract nickel chemicals, Vale said in a statement on Thursday.The companies plan to create a partnership to build a plant to produce 120,000 tonnes per annum of mixed hydroxide precipitate, material extracted from nickel ore that would be used in batteries for electric vehicles.Vale said the new partnership with Ford will be built on its framework agreement with Huayou, signed in April. Under the April agreement, Huayou will develop the project in Southeast Sulawesi and Vale will have rights to acquire up to a 30% stake in the project."This three-way relationship is a creative way to secure the nickel Ford needs to help deliver millions of EVs for our customers and it keeps our environmental, social and governance goals front and center in the process," Lisa Drake, Ford's vice president of EV industrialization, said in the statement."Not only will this partnership with Ford and PT Vale bring to our customers stable and sustainable supply, but also will benefit the increasingly robust EV industry and Indonesian economy," Huayou's Executive Vice Chairman, George Q. Fang, said in the statement.The project is expected to be completed in 2025.Indonesia is keen to utilise its rich nickel reserves to attract investment into metal processing, production of EV batteries material and building EV onshore.The government from 2020 banned export of unprocessed nickel ore to ensure supply for existing and potential investors.Source: https://www.reuters.com/markets/commodities/vale-indonesia-chinas-huayou-sign-agreement-with-ford-nickel-plant-2022-07-21/
News
20 Jul 2022, 15:02 PM

Bakrie Group Cooperation in Supplying Nickel Ore

www.investor.id
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PT VKTR Mobilitas Technology (VKTR), a subsidiary of PT Bakrie & Brothers Tbk (BNBR) which is engaged in the battery and transportation electrification acceleration, has agreed to cooperate with PT Tambang Nickel Sulteng (TNS) in an effort to supply ore supply. nickel. This cooperation agreement is stated in a Memorandum of Understanding (MoU) signed by VKTR President Director Gilarsi W Setijono and TNS President Director Ronny Tanusaputra, in Palu, Central Sulawesi, Tuesday (19/7/2022).Gilarsi said, in accordance with the MoU, TNS will provide VKTR with nickel ore obtained from an environmentally friendly mining process. The nickel ore is planned to be processed by a joint venture company between VKTR and other parties. Meanwhile, TNS will also be given the opportunity to own shares in the joint venture ."Currently, VKTR continues to strive to take a role in the development of the electric vehicle ecosystem in the country, considering that Indonesia has nickel ore reserves of 25% of all world reserves," said Gilarsi in a written statement, Wednesday (20/7/2022). The downstream nickel industry, continued Gilarsi, could later make Indonesia a major player in the field of lithium battery production. This downstreaming will certainly increase the added value of the economy significantly, explained Gilarsi.According to Gilarsi, in 2022, the government targets the production of refined nickel to reach 2.58 million tons. This target will be supported by production of Ferronickel of 1.66 million tons, Nickel Pig Iron of 831,000 tons, and Nickel Matte of 82,900 tons. "We hope that, in the next five years, domestic nickel production can continue to increase sustainably given the abundance of nickel reserves in Indonesia," he said.Gilarsi added that the age of Indonesia's nickel ore reserves could reach 73 years for low grade nickel ore below 1.5% or limonite nickel ore. The assumption of the age of the reserves comes from the total reserves of nickel limonite ore reaching 1.7 billion tons and the need for domestic processing capacity of 24 million tons per year. Meanwhile, for high grade nickel ore above 1.5% or saprolite nickel, the age of the reserves is said to be only sufficient for the next 27 years. This calculation is based on the assumption that the amount of saprolite ore is 2.6 billion tons and the capacity for domestic smelters is 95.5 million tons per year."With sufficient nickel reserves in the country, as well as pro- sustainable policy support for the industry , we are all optimistic that Indonesia will be able to become a dominant global player in the future," said Gilarsi.Lots of CooperationEarlier this year, together with PT Transport Jakarta (Transjakarta) and PT Mayasari Bakti, a total of 30 units of VKTR-BYD electric buses were launched as part of the Transjakarta fleet and have been going back and forth on the streets serving transportation for residents of the capital city. In the future, the company will expand the range of VKTR products to areas other than DKI Jakarta.Currently, VKTR is promoting cooperation with various parties, as one of the company's strategies to localize technology and develop a transportation electrification ecosystem for its manufactured products.In addition to BYD Auto, VKTR has signed a partnership with British environmentally friendly battery manufacturer British Volt, bodybuilding company Tri Sakti, British heavy mobility technology company Equipmake, Surabaya State Electronics Polytechnic (PENS), Sebelas Maret University (UNS) Surakarta, PT Jasa Facilities, and a number of other parties."All these collaborations are carried out to build a complete transportation electrification ecosystem in Indonesia, from upstream to downstream," said Gilarsi.Source: https://investor.id/market-and-corporate/300295/grup-bakrie-kerja-sama-penyediaan-pasokan-bijih-nikel
News
18 Jul 2022, 13:47 PM

Baru Gold Announces US $1.5 Million Convertible Loan Financing for Sangihe Gold Mine Production

www.juniorminingnetwork.com
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Baru Gold Corp. (TSXV:BARU) | (OTC:BARUF) (“BARU” or the “Company”) is pleased to announce it has entered into a convertible loan agreement with Mercer Street Global Opportunity Fund, LLC, a fund managed by Mercer Street Capital Partners, LLC, a Miami-based institutional fund manager (together, “Mercer”), to raise net proceeds of US$1,500,000 ($1.94 Million Canadian) to fund the development and construction of the Sangihe gold mine in Indonesia, and for general working capital.Terry Filbert, Chairman and CEO of Baru Gold, commented, “The Company’s ability to raise these funds in this challenging market is a testament to the merits of the Sangihe project. We are pleased to be able to carry on with construction and production plans; and we look forward to the commencement of our previously announced drilling program where we intend to extend and increase the resource base at the Binebase and Bawone target areas. The additional capital will allow us to work towards the ultimate goal of sustained cashflow for the Company.”The convertible loan will raise net proceeds of US$1,500,000 (the “Convertible Loan”) from the aggregate principal amount of US$2,000,000 subject to an original discount of approximately 25%. The terms of the convertible loan agreement are as follows: (i) the outstanding principal obligations and interest shall be calculated monthly, and shall be repaid to the Subscriber in eighteen (18) equal monthly installments, in advance, commencing 180 days following the closing date, until the obligations are fully repaid; (ii) the Company shall pay interest on any overdue amount (including interest on interest) at and interest rate of 18% per annum until the overdue amounts are paid in full; (iii) in the event that the principal amount of US$1,500,000 has been fully paid within one (1) year from the closing date, a discount of approximately 10% of the principal amount and interest shall apply to the total repayment amount where the aggregate amount due shall be reduced to US$1,800,000. The Debentures have a maturity date of the 2nd anniversary of the closing date and bear an interest rate of 16.67% prepaid from loan proceeds on the closing date.Commencing on the four (4) month anniversary of the closing date: (i) the principal of the Convertible Loan shall be convertible into common shares of the Company at the conversion price of CDN$0.05/US$0.0384 per common share and (ii) subject to prior TSX Venture Exchange approval, interest shall be convertible at a conversion price based on the previous trading day close prior to the announcement of the interest conversion..A total of 15,000,000 transferable warrants of the Company shall also be issued to the lender that may be exercised over a two (2) year term having a warrant exercise price of CDN$0.0675/US$0.05.The Convertible Loan is secured against the Company’s equity interest in its wholly owned subsidiary, Sangihe Gold Corporation, that holds through a wholly owned Indonesian subsidiary, the Company’s interests in the Sangihe Gold Project. The use of proceeds from the Offering shall be used for the development of the Sangihe Gold Project and general working capital purposes. There are no finder’s fees payable.Source: https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2203-tsx-venture/baru/124971-baru-gold-announces-us-1-5-million-convertible-loan-financing-for-sangihe-gold-mine-production.html
News
18 Jul 2022, 11:02 AM

MIND ID Group Prepares IDR 534 Billion for Post-Mining Reclamation bonds

www.kumparan.com
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BUMN Holding Mining Industry MIND ID or Mining Industry Indonesia, which consists of PT ANTAM Tbk, PT Bukit Asam Tbk, PT Freeport Indonesia, PT Inalum (Persero) and PT Timah Tbk. MIND ID Group places a guarantee fund reclamation as of December 31, 2021, totaling Rp 534.4 billion.President Director of MIND ID, Hendi Prio Santoso said MIND ID continues to encourage holding member companies to fulfill obligations related to business processes, one of which is compliance with the placement of reclamation guarantee funds. "As an Indonesian strategic natural resource management company, MIND ID Group ensures that landscape changes are carried out in a planned manner so as to minimize operational impacts and optimize mineral processing results," he said in a statement, Monday (18/7).MIND ID Group's reclamation policy refers to Law Number 3 of 2020 concerning Amendments to Law Number 4 of 2009 concerning Mining Minerals and Coal. The MIND ID Group is committed to carrying out its reclamation and post-mining obligations with a 100 percent success rate. In addition to the reclamation obligations, the MIND ID Group also carries out its watershed (DAS) rehabilitation obligations. In 2022, MIND ID Group plans to rehabilitate a 3,641 hectare watershed. As of May 2022, the total area of ​​planting and maintenance of the watershed rehabilitation program is 1,949 hectares.The MIND ID Group, according to him, will continue to pay attention to sustainability aspects in every operational activity in accordance with the MIND ID Sustainability Roadmap in accordance with applicable regulations both the Ministry of Environment and Forestry (KLHK) and the Ministry of Environment and Forestry.ESDM."The MIND ID Group also strives to meet the ICMM (International Council on Mining and Metals) standards as a form of commitment to operational governance in accordance with world-class standards," he explained.Source: https://kumparan.com/kumparanbisnis/grup-mind-id-siapkan-rp-534-miliar-untuk-jaminan-reklamasi-pascatambang-1yUM1cCBGq8/full
News
15 Jul 2022, 07:24 AM

Indonesia Seeks Ways to Exit Coal Earlier With a Fund Mechanism

www.bloomberg.com
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Indonesia is seeking to retire coal-reliant power plants earlier by devising a way to fund renewable projects amid the challenges of rising interest rates and elevated energy costs.“So we are going to be very, very serious first in making sure that this short-term disruption will not in this case also weaken our commitment,” Finance Minister Sri Mulyani Indrawati said in a Bloomberg Television interview with Haslinda Amin. She spoke from Bali on the sidelines of the Group of 20 finance ministers and central bank governors meeting.The government is working out the details of the Energy Transition Mechanism, including how to price the cost of building out renewable power capacity to replace coal-guzzling plants, Indrawati said. The ETM platform would involve adopting a model called “blended finance,” that taps different types of investors including sovereign, multilateral and private, instead of bilateral funding. That means countries like Indonesia can retain more authority over their domestic energy strategy instead of signing on to policy-binding deals.President Joko Widodo has pledged to shut all of Indonesia’s coal-power plants by 2055 and be 100% dependent on renewable sources five years later. No new coal-fired power plants will be approved and there are plans to finally roll out a carbon tax this year. Pushing countries to leave coal behind will become more difficult as many of them are in “survival mode” when it comes to access to energy, Indrawati said. Indonesia has been spending more state funds to keep local energy prices low as global oil costs surge.Source: https://www.bloomberg.com/news/articles/2022-07-15/indonesia-seeks-ways-to-exit-coal-earlier-with-a-fund-mechanism#xj4y7vzkg
News
14 Jul 2022, 14:23 PM

United Tractors (UNTR) Launches Komatsu HB365-1 Hybrid Excavator

www.industri.kontan.co.id
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PT United Tractors Tbk (UNTR) and Komatsu launched their newest hybrid excavator product, as well as the first in Indonesia for the 30 ton class, namely the Komatsu HB365-1. This excavator uses hybrid components that are more durable and reliable in harnessing electrical energy to produce powerful performance. Thus, this excavator helps reduce footprint emissions by up to 13 kg/hour and saves fuel consumption by up to 17% when compared to non-hybrid excavator models.United Tractors Corporate Governance & Sustainability Division Head Sara K. Loebis said, although currently the policies that regulate exhaust emissions are only available for passenger or commercial vehicles, United Tractors and Komatsu always support environmental sustainability in Indonesia by presenting environmentally friendly products."Together with Komatsu, which is a pioneer in presenting hybrid excavators in Indonesia, we continue to innovate so that we can play an active role in minimizing negative impacts on humans and the environment and gradually contribute to realizing an emission-free Indonesia," Sara said in her official statement, Thursday (14/14/2020). 7).Sara said, as a company that is mostly involved in the sale of heavy equipment for industry, UNTR has a special concern for environmental issues as part of the implementation of environmental, social & governance (ESG) initiatives. Therefore, the presence of Komatsu HB365-1 is a form of the company's commitment in developing environmentally friendly products.Marketing Division Head United Tractors Etot Listyono said, Komatsu continues to design, develop, test, and deliver heavy equipment with principles towards zero emission. Komatsu HB365-1 is intended for use in various sectors such as coal and mineral mining, namely nickel, gold, tin and bauxite as well as construction works. Komatsu HB365-1 utilizes the kinetic energy generated by the swing movement and engine rotation to generate electrical energy stored in the capacitor through the inverter. The stored energy is reused for swing movement and helps engine rotation. This makes the unit more efficient in fuel use because the engine workload is reduced."Every product sold by United Tractors must have gone through a study and research process that is tailored to the needs of the Indonesian market," said Etot. Etot added, Komatsu has been developing hybrid technology research since 1999 and it took almost 10 years to develop its first hybrid excavator product.Source: https://industri.kontan.co.id/news/united-tractors-untr-luncurkan-ekskavator-hibrid-komatsu-hb365-1
News
13 Jul 2022, 13:12 PM

Indonesia set to boost coal output to fill Russia supply gap

www.mining.com
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Indonesia, the world’s biggest exporter of coal used in power plants, will be able to increase output to help meet demand from countries that have lost supplies from Russia, its energy minister said on Wednesday. Energy and Mineral Resources Minister Arifin Tasrif said countries, which he declined to name, had asked Indonesia for coal in the wake of sanctions on Russia for its invasion of Ukraine, which Moscow calls a “special military operation”.“We will help every country who are short of this kind of material as much as we can,” Tasrif said during an interview with Reuters on the sidelines of the Sydney Energy Forum hosted by the Australian government and the International Energy Agency. Indonesia’s target for coal output this year is 663 million tonnes. The minister did not say by how much that target might be raised.“We have the resources. If we look at the balance, we have to increase our production,” he said, adding that miners are obliged to reserve 25% for the domestic market. While Europe was short on coal, Indonesian coal “probably doesn’t meet their specification,” Tasrif said, while adding that buyers could possibly adjust their combustion systems.“In case the situation is very urgent, especially entering the winter season at the end of the year, we don’t want to let people suffer without coal. We have to do something on both sides.” The conference in Sydney was focused on energy security and finding ways to accelerate the transition to carbon neutral. Indonesia sees carbon capture and storage (CCS) as an important way to help meet goals for net zero emissions and plans to issue carbon credits for CCS projects, Tasrif said. He said Indonesia would issue its first carbon credits for other types of projects “very soon”.There are already three CCS pilot projects in Indonesia, with oil and gas giants like BP and ExxonMobil Corp studying CCS opportunities, and the government is looking for ways to capture carbon from other industries to be sequestered offshore in depleted oil and gas fields.Source: https://www.mining.com/web/indonesia-set-to-boost-coal-output-to-fill-russia-supply-gap/
News
12 Jul 2022, 16:45 PM

Spread Over 2,700 Locations, Ministry Of Energy And Mineral Resources Explains The Negative Impact O...

www.voi.id
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Director of Engineering and Environment for Mineral and Coal, Ministry of Energy and Mineral Resources (ESDM) Sunindyo Suryo Herdadi revealed, this illegal mining practice has a negative impact on social, economic and environmental life."The social impact of PETI's activities is that it hampers regional development because it is not in accordance with the RTRW, can trigger social conflicts in the community, so that it has the potential to cause public illness, and health problems due to exposure to chemicals," said Sunindyo in a statement to the media, Tuesday, July 12.In addition, he continued, illegal mining also has an impact on the country's economy because it has the potential to reduce Non-Tax State Revenue (PNBP) and tax revenue. "This will trigger economic disparities in the community, lead to fuel shortages, and the potential for an increase in the price of public goods," he continued.From the environmental side, PETI will cause environmental damage, damage forests if they are in forest areas, can cause environmental disasters, disrupt agricultural and plantation land productivity, and can cause river water turbidity and water pollution.In general, former PETI land with the open-pit mining method is no longer operational, leaving voids and puddles of water so that the land can no longer be used properly. "All PETI activities do not have acid mine water treatment facilities, so puddles and water flowing around PETI is acidic.This has the potential to pollute river water. so that on a large scale it has the potential to cause forest fires," concluded Sunindyo. To note, the implementation of PETI also generally ignores occupational safety and health (K3). Many violations occurred such as using non-standard equipment, not using personal safety equipment (PPE), no air ventilation in underground mines, and no buffering in underground mines.Source: https://voi.id/en/economy/189468/tersebar-lebih-di-2-700-lokasi-kementerian-esdm-paparkan-dampak-negatif-pertambangan-ilegal
News
11 Jul 2022, 09:14 AM

Far East hits clear air with major Wonogiri copper-gold project update

www.stockhead.com.au
301 Views
Far East continues to progress its 1.15Moz Wonogiri project in Indonesia towards development with the receipt of promising metallurgical results and emissions compliance approval.The receipt of the necessary environmental technical approval for air emissions associated with the development and operation of the proposed mine by the Ministry of Environment and Forestry is a significant milestone for advancing the porphyry deposit through the remaining environment permitting process. This will in turn enable an upgrade of the project’s exploration permit (IUP Explorasi) to an operation and production permit (IUP OP), which will permit its development and operation.Far East Gold (ASX:FEG) adds that recent metallurgical test work on epithermal type quartz has shown high gold recoveries of 96% thanks in large part to high gravity gold extraction of 75%. This compares with previous carbon-in-leach processing that returned overall gold recoveries to between 90% and 91% with the gravity concentrator extracting up to 51% of the gold.Importantly, this indicates that most of the gold contained within epithermal type mineralisation can be recovered efficiently, which should improve cash flows and lower operational cost due, in part, to lowering reagent requirements. It also supports the company’s environmental policies, underscoring its belief that Wonogiri is a leading project for both production and ESG. The test work will be included in the Scoping Study update that is being carried out by Mining One consultants.Approval imminentWith the receipt of the air emissions approval, Far East only has one remaining technical approval required – the Toxic and Hazardous Waste Management Technical Approval – to secure the environmental green light for Wonogiri. Application for this remaining approval is well advanced with the company having completed the necessary geotechnical, hydrogeological and hydrology studies.Meanwhile, the TCLP testing, filter testing, total pollutant concentration and radioactive contamination tests required for this final technical approval are all well progressed. The company is also evaluating final proposals for the mine infrastructure and processing plant layouts.This article was developed in collaboration with Far East Gold, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.Source: https://stockhead.com.au/resources/far-east-hits-clear-air-with-major-wonogiri-copper-gold-project-update/
News
09 Jul 2022, 10:23 AM

Indonesia's Bara Daya Energi outbids Adani in CIL tenders for coal imports

www.business-standard.com
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Indonesia’s Bara Daya Energi quoted the lowest bid for two coal import tenders of Coal India (CIL) for supplying 3 million tonne (MT) each. The firm has outbid Adani Enterprises, the only other bidder for these two tenders. Adani, however, has emerged as L1, or the lowest bidder, for the short-term coal import tender of CIL for supplying 2.4 MT.The Indonesian company quoted Rs 4,331 crore for the eastern coast tender and Rs 4,497 crore for the west coast. Adani Enterprises, which came second, quoted Rs 5,035 crore and Rs 5080 crore for west and east coast, respectively. This is a medium-term supply contract for CIL to build a stock during next season.Bara Daya, however, has earlier faced termination of its contract from Gujarat State Electricity Corporation (GSECL) over “breach of contract and failure to supply coal”, said sources. Even in the first import tender of CIL, Bara Daya was rejected at the technical level on grounds of submitting invalid legal documents such as “power of attorney” and “consortium agreement,” said sources.Bara Daya has submitted its bid through a consortium with an Ahmedabad-based company GHV India. The two tenders, issued by CIL last month, pertain to the supply of 3 MT of coal at the east and west coast of the country. There were only two bidders for these tenders. For the first tender — for which the winning bid was submitted by Adani — is still being evaluated. The company had quoted Rs 4,033 crore in its bid. There were 11 other bidders for the contract to supply 2.4 MT during the June-September period.Source: https://www.business-standard.com/article/companies/indonesia-s-bara-daya-energi-outbids-adanis-in-cil-tenders-for-coal-imports-122070801083_1.html

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