PT Harum Energy Tbk (HRUM) reported the absorption of a total capital expenditure alias capital expenditure of US$ 12.9 million in the first six months of 2023. This capex is used for a number of HRUM subsidiary needs, namely the addition of mining properties at PT Mahakam Sumber Jaya, PT Karya Usaha Pertiwi, and PT Tanito Harum NickelCapex is also used for the cost of maintaining the barge fleet owned by PT Layar Lintas Jaya as well as the purchase of vehicles and heavy equipment.HRUM Main Director Ray Antonio Gunara said, his party still maintains the estimated capital expenditure budget for 2023, which is around US$ 52 million. Most of the capex will be used for the construction of infrastructure and production facilities in the nickel mining area. "While the rest is for additional coal mining properties, purchase of vehicles, purchase of heavy equipment and maintenance of tugboats and barges," Ray told Kontan.co.id, Wednesday (2/8).HRUM decided to raise its coal production target this year in line with the high operational performance throughout the first half of 2023.The issuer owned by tycoon Kiki Barki revised HRUM's coal production for 2023 to 6 million tons, or around 20% higher than the previous year. Previously, HRUM had set a production target of 5.5 million tonnes by the end of 2023.As an illustration, HRUM managed to produce 3.5 million tons of coal during the first six months of 2023. This amount is equivalent to a 49.1% increase from actual production in the same period the previous year which was only 2.3 million tons.Thus, as of the first half of 2023, HRUM has met 58.3% of the set production target.Meanwhile in the nickel segment, the second HRUM smelter, owned by its associated company, PT Westrong Metal Industry (WMI), is currently in the final stages of construction.As previously announced, WMI will have four rotary kiln electric furnace (RKEF) smelter lines designed to produce up to 56,000 tons of nickel metal annually in the form of high-grade nickel pig iron (NPI) and matte nickel.By June 2023, civil construction progress at WMI had reached nearly 90%, and the smelter is expected to start commercial production in stages from the fourth quarter of 2023.This will support the sustainable growth of HRUM's nickel production going forward. With the flexibility to produce high grade matte nickel, WMI expects to generate stronger margins than low grade NPI production.Image source: Dok/HRUMSource: https://stocksetup.kontan.co.id/news/hingga-semester-i-harum-energy-hrum-sudah-serap-capex-us-129-juta

The government plans to boost national coal production this year.The Ministry of Energy and Mineral Resources (ESDM) ensures that a number of coal companies are submitting revised Work Plans and Budgets (RKAB) entering the second half of 2023.Executive Director of the Indonesian Coal Mining Association (APBI) Hendra Sinadia revealed, with production trends throughout the first semester of 2023, there is potential for increased production to occur for the remainder of this year."The average production in the first semester of 2023 is 61 million tons per month. If this trend continues in the second semester of 2023, it is likely that the total production will be more than 700 million tons," Hendra, Wednesday (9/8).Hendra added, generally the composition of coal demand in the second half of 2023 will still be the same for both the domestic and export markets.However, a number of things deserve the attention of the government in order to boost coal production in the remainder of this year.Hendra explained, the smooth production of coal will be affected by price fluctuations. In addition, coal companies are also facing the challenge of increasing operating expenses.According to him, there are a number of conditions that have the potential to hamper this year's production increase plan."The disparity between the Reference Coal Price (HBA) and the selling price affects the company's profitability," explained Hendra.The policy of depositing Foreign Exchange Export Proceeds from Natural Resources (DHE SDA) by the government is considered to have the potential to add to the burden on business actors. Furthermore, the coal channel collection scheme through Government Agency Partners (MIP) will also be a factor affecting smooth production."In the midst of the government's efforts to encourage increased productivity, on the other hand, companies are burdened due to the downward trend in prices and government policies are increasingly burdensome for businesses," said Hendra.On the other hand, a number of coal companies experienced an increase in production in the first semester of 2023. However, a number of coal companies chose to maintain their production targets for the rest of this year.PT Golden Energy Mines Tbk (GEMS) Corporate Secretary Sudin Sudiman said that until now the company has not changed its production target.However, production increases did occur for the first six months of this year."Until now we have no plans to revise the RKAB. Production in the first semester of 2023 is 20.4 million tons," Sudin told Kontan.co.id, Wednesday (9/8).Sudin explained, the production achievement increased 16% year on year (yoy) compared to the same period in the previous year. The achievements in the first semester of 2023 are still in accordance with the company's target.It was noted that this year GEMS targets coal production of 40 million tons with sales of around 41 million tons. Director of PT ABM Investama Tbk (ABMM) Adrian Erlangga explained, so far the company's production target has not changed."We have no plans to revise the RKAB. (But) the operational performance in the first half of 2023 is better," Adrian told Kontan, Wednesday (9/8).Adrian revealed that the operational performance which was better than last year also had a positive impact on the company's financial performance in the first half of this year.Likewise, Director and Corporate Secretary of PT Bumi Resources Tbk (BUMI) Dileep Srivastava emphasized that the company will still survive with a production target of around 75 million tons to 80 million tons."There has been no change to the production target, it is still in accordance with the current RKAB target," explained Dileep, Wednesday (9/8).It was recorded that BUMI's coal production in the first semester of 2023 reached 35.4 million tons, an increase of 2% yoy compared to the same period the previous year of 34.5 million tons.Referring to Minerba One Data Indonesia (MODI), coal production until August 8 2023 reached 433.51 million tonnes or 62.42% of the planned production of 694.50 million tonnes.Of this amount, coal sales for the export market reached 160.32 million tonnes or 34.85% of the total export plan this year of 460 million tonnes. Furthermore, the realization of coal supply for the domestic market or the Domestic Market Obligation (DMO) reached 71.06 million tons or the equivalent of 40.19% of this year's DMO target of 176.80 million tons.Image source: ANTARA FOTO/NOVA WAHYUDISource: https://newssetup.kontan.co.id/news/produksi-batubara-bisa-capai-700-juta-ton-di-tahun-2023

PT United Tractors Tbk ( UNTR ) succeeded in absorbing capital expenditure ( capex) of US$ 600 million or the equivalent of Rp. 9 trillion during the first half of 2023. This realization is equivalent to 50% of the capex budgeted this year, namely US$ 1. 2 billion.UNTR Corporate Secretary Sara K. Loebis said, the capex was used to purchase heavy equipment for the mining contractor business line."Hopefully the rest will be absorbed according to plan," Sara told Kontan.co.id, Monday (7/8). However, Sara admits that she does not yet have views and estimates regarding the capex allocation for next year.Meanwhile, the UNTR mining contractor business line recorded excellent performance for the first six months of 2023. In the mining contractor segment run by PT Pamapersada Nusantara (Pama), UNTR posted net income of IDR 24.3 trillion, an increase of 22% compared to the same period in 2022 .The increase in Pama's financial performance was in line with the increase in coal production volume by 18% from 50 million tons to 59 million tons and the volume of overburden removal work by 20% from 437 million bank cubic meters (bcm) to 524 million bcm.The UNTR business unit in the coal mining sector which is run by PT Tuah Turangga Agung (TTA) also posted a revenue increase of 8% year -on-year (YoY) to IDR 20.1 trillion. This increase was in line with the increase in total coal sales by 11% to 6.4 million tonnes, including sales of 1.3 million tonnes of metallurgical coal.Meanwhile, the revenue of the construction machinery business unit until the first semester of 2023 amounted to IDR 20.3 trillion, an increase of 16% compared to the first semester of 2022 which amounted to IDR 17.4 trillion. As of June 2023, Komatsu heavy equipment sales volume was recorded at 3,145 units, up 9% compared to sales in the same period in 2022 of 2,873 units.If accumulated, UNTR posted a consolidated net income of IDR 68.7 trillion during the first semester of 2023. This realization increased by 14% when compared to the same period in 2022.Image source: Dok/PT United Tractors TbkSource: https://investasi.kontan.co.id/news/united-tractors-untr-telah-menyerap-50-alokasi-capex-tahun-ini

PT Merdeka Copper Gold Tbk ( MDKA ) reported that it had paid off the principal and the 12th interest payment of the Merdeka Copper Gold Phase I 2020 Series B Sustainable Bonds. This payment was made by MDKA on Sunday (30/7).The number of bonds that mature on July 30 2023 consists of a principal of IDR 726.35 Billion and interest on the 12 bonds of around IDR 19.06 Billion. Thus, the total principal repayments and interest payments for the 12 bonds is IDR 745.41 BillionThe funding source used by MDKA to make this payment comes from internal cash.With this settlement, all of MDKA's obligations on the bonds have ended. "Furthermore, there is no other material impact on the repayment of the principal and interest of the 12 bonds on operational activities, law, financial condition, or business continuity of Merdeka Copper Gold," wrote Merdeka Copper Gold Corporate Secretary Adi Adriansyah in an information disclosure on the Indonesia Stock Exchange's website. , Tuesday (1/8).Image source: KONTAN/Carolus Agus WaluyoSource: https://investasi.kontan.co.id/news/merdeka-copper-gold-mdka-lunasi-obligasi-dan-bunga-senilai-rp-74541-miliar

PT Trimegah Bangun Persada Tbk will continue its expansion. NCKL is building a second High Pressure Acid Leach (HPAL) refinery facility through its subsidiary, PT Obi Nickel Cobalt (ONC).According to the plan, the facility is targeted to have 3 production lines with a production capacity of 65,000 tons of mixed hydroxide precipitate (MHP) nickel per year and is expected to start operating in the first half of 2024. On another expansion agenda, NCKL is also planning further expansion for the Rotary Kiln Electric Furnace (RKEF) production line through an associated entity, namely PT Karunia Permai Sentosa (KPS). The plan is for the facility to have 12 production lines with a production capacity of 185,000 tonnes of nickel content per year (ferronickel) and is expected to operate in stages starting in the second half of 2025. "The company is also in the planning stage of a stainless steel project where some of the ferronickel produced by the Company and its subsidiaries in the RKEF sector will be further processed to produce stainless steel products," said  NCKL Corporate Secretary , Franssoka in a written statement, Wednesday ( 2/8).NCKL is indeed keen on factory expansion. In May 2023, for example, NCKL through an associated entity, namely PT Halmahera Persada Lygend (HPL), had just inaugurated the operation of a nickel sulfate factory at the end of May 2023. The factory with a design installed production capacity of 240 thousand tons of nickel sulfate per year is in the Harita Nickel operational area on Obi Island, South Halmahera Regency, North Maluku Province.According to Kontan.co.id records, HPL's cobalt sulfate production capacity is planned to reach 30,000 tons per year. It is not yet known how much investment is required for the HPAL ONC and RKEF KPS expansion projects. Taking a peek at the company's interim financial reports, NCKL has End of Period Cash and Bank of IDR 6.01 trillion as of June 30, 2023. This amount increased by 371.34% compared to the Cash and Bank position at the Beginning of the Period which amounted to Rp 1.27 trillion.Meanwhile, NCKL's total assets were Rp. 42.32 trillion as of June 30, 2023. This amount consisted of Rp. 24.58 trillion in equity and Rp. 17.73 trillion in liabilities. So, according to Kontan.co.id's rough calculation, the position of the NCKL debt-to-equity ratio (DER) is in the position of 0.72x as of June 30, 2023.Image source: DOK/NCKLSource: https://newssetup.kontan.co.id/news/trimegah-bangun-persada-nckl-bakal-lanjutkan-ekspansi-pabrik-nikel

PT Dana Brata Luhur Tbk (TEBE) is optimistic that it can carve a brilliant performance in 2023. This will be supported, among other things, by the demand for coal which is expected to remain strong this year, due to the country's rapid economic growth. requires coal such as China, India and Europe is quite high.Main Director of TEBE, Dian Heryandi said, the company targets this year's revenue to grow by around 10% to 15%. "Revenue growth will be driven by, one of the reasons, this year's coal transport volume is targeted at 12 metric tons (MT) or an increase from the previous year which was only 10 million MT," he said in Jakarta, Thursday (3/8).To achieve this target, Chief Financial Officer (CFO) Dana Brata Luhur Yudo Wijayanto added, the company has budgeted capital expenditure (capex) of IDR 19 billion this year and currently, the company's realized capital expenditure has reached 95% of the budgeted . "We have allocated part of the funds to upgrade the conveyor line-4," he said.He conveyed, previously not using a conveyor now using a conveyor with a capacity of 2,000 MT per hour. This is expected to be the backbone of the company which will be able to increase TEBE revenue. Then the funds are also used for the addition of stockpile land and the addition of a fleet or trucks.Yudo also said that the company had held an extraordinary general meeting of shareholders (GMS). The approved agenda is a change in management, namely a reshuffle in the TEBE board of commissioners. In this case, Samsul Hidayat officially resigned from his position as Independent Commissioner at TEBE. "Mr. Samsul Hidayat has been appointed to be the Managing Director of PT Kustodian Sentral Efek Indonesia (KSEI). So based on the Exchange rules, we have to appoint a replacement. In this case, Mr. Uriep Budi Prasetyo. Coincidentally, Mr. Uriep is also the Ex-Director of KSEI," he concluded.Previously, the company saw the prospect of coal commodities going down slightly. The price of this energy commodity is also projected to decline from last year. This condition will certainly affect the performance of TEBE. However, the company remains optimistic about its financial performance. It was stated, this year's TEBE revenue projection is at IDR 850 billion, up 8.72% from last year's realized revenue. Meanwhile, net profit is expected to reach Rp 360 billion, up 10.61% from last year's realization.In addition, the company also stated that China's coal consumption is expected to increase in 2023. Likewise, demand from India. This is driven by the demand for electricity and the demand in the industrial sector which is still quite high from the country. Meanwhile, European coal demand remains uncertain, given the still volatile situation regarding Russian gas flows.Thus, this still provides a sizable opportunity for Indonesia, in this case the coal mining industry, to increase the faucet of coal exports to the country.Image source: KONTAN/Akhmad SuryahadiSource: https://www.neraca.co.id/article/183912/permintaan-batu-bara-masih-tinggi-dana-brata-luhur-optimis-pendapatan-tumbuh-15

In less than two weeks listed on Indonesia Stock Exchange (IDX), PT Mandiri Herindo Adiperkasa Tbk ( MAHA ) immediately stepped on the gas to boost performance. MAHA has signed a contract extension for coal hauling services worth IDR 1.2 trillion from PT Kideco Jaya Agung (KJA).KJA is a coal producer subsidiary of PT Indika Energy Tbk ( INDY ). This contract extension covers transportation services with a total target of 35 million tons of coal for 5 years (2023 – 2027). Meanwhile, Mandiri Services is one of the largest mining transportation service providers in Indonesia.Main Director of MAHA Yenny Hamidah Koean revealed that MAHA's partnership with KJA had lasted for 24 years, starting from the first contract in 2000. Yenny also expressed her appreciation to the President Director of KJA, M. Kurnia Ariawan, for the continuation of this collaboration."Mandiri Services is trying to maintain the stability of KJA's operations by achieving the target of transporting coal safely and securely. We will ensure that the partnership that has been established so far is always good and long-lasting, so that it can benefit both parties," said Yenny in a release received by Kontan.co .id, Thursday (3/8).Yenny said that extending the contract period for coal hauling services was one of MAHA's efforts to build a sustainable business. As for 2023, MAHA has set a guidance volume for transportation of 7 million tonnes of coal.Apart from KJA, MAHA has also collaborated with one of INDY's subsidiaries, namely PT Multi Tambangjaya Utama ( MUTU ) through a coal transport contract in the Ampah area, South Barito since 2018.As a reminder, MAHA officially took the floor on the IDX on July 25 2023. MAHA's share price has skyrocketed from the offering price of IDR 118 per share. In today's trading (3/8), MAHA strengthened 7.30% to a price level of Rp 294 per share.Image source: https://mha.co.id/Source: https://investasi.kontan.co.id/news/mandiri-herindo-maha-raih-kontrak-rp-12-triliun-angkut-batubara-anak-usaha-indika

PT Golden Energy Mines Tbk (GEMS) received a US$180 million loan facility or around Rp2.73 trillion from Bank Mandiri.As quoted from the stock exchange's disclosure, the Corporate Secretary of Golden Energy Mines, Sudin, explained that the loan was obtained on July 31. Later, the Sinar Mas Group's coal issuers will use it for various general corporate purposes that will support operational growth."The term of this facility is 5 years," he said, quoted by Fortune Indonesia, Thursday (3/8).In detail, these general objectives include, but are not limited to: refinancing old facilities at Bank Mandiri; financing capital expenditure ( capital expenditure ); operating expenditure financing ; financing costs incurred on syndicated credit agreements; as well as financing the company's operational working capital.Golden Energy is also optimistic that the loan will strengthen financial conditions and have a positive impact on the company's business continuity.Loan typeApart from GEMS, this loan will also be distributed to PT Borneo Indobara, PT Kuasing Inti Makmur, PT Barasentosa Lestarai and PT Roindhill Capital Indonesia—all of which are direct and indirect subsidiaries.The loan facility in question is of the type of term loan consisting of tranche A-term loans  and tranche B-term revolving loans with respective loan limits of up to US$50 million and US$110 million. As for the accordion facility, which allows debtors to increase the ceiling limit or add a term loan, a maximum of US$20 million."The company and its subsidiaries will carry out collateral binding after obtaining the necessary GMS approval in accordance with the applicable laws and statutes," said the statement.Image source: ANTARA PHOTO/BAYU PRATAMA S/WSJSource: https://www.fortuneidn.com/business/friana/golden-energy-gems-dapat-pinjaman-rp2-73-triliun-dari-mandiri

Nickel Industries Ltd has announced that the haul road linking its 80% owned Hengjaya Mine to the Indonesian Morowali Industrial Park (IMIP) in central Sulawesi has been completed, including the construction of a 70 m double lane bridge with public road underpass near the entrance of the IMIP. The company is ready to commence the haulage of nickel laterite ore from the company’s mining operation directly to the IMIP.With the haul road complete and haulage and maintenance contracts now awarded, the company expects to commence the trucking of first ore down this road this month. The completion of the haul road represents a landmark development in the history of the company’s mining operations and will allow the mine to rapidly increase total ore sales from current levels of approximately 3.5 million tpy to a targeted 10 million tpy, a run rate which is expected to be achieved by the end of 2023.The company currently has in excess of 8 million t of limonite ore stockpiled that can now be progressively sold into the IMIP’s two existing HPAL projects – the Huayue Nickel Cobalt Project (HNC, in which the company has recently acquired a 10% equity interest) and the QMB New Energy Project.An official ceremony to mark the opening of the haul road was held on Thursday 3 August 2023, and was attended by senior Nickel Industries executives; including Deputy Chairman Norman Seckold, Managing Director Justin Werner and Director James Crombie, in addition to Tsingshan Chairman Xiang Guangda, Shanghai Decent Chairman and Nickel Industries Director Huang Weifeng, and Eternal Tsingshan Chairman and Nickel Industries Director Xiang Binghe.Commenting on the completion of the Hengjaya Mine to IMIP haul road, Justin Werner, Nickel Industries Managing Director, said:“After several years of hard work, we are delighted to have now completed this transformational piece of mine infrastructure that will enable the Hengjaya Mine to leverage the full strategic benefits of its proximity to the IMIP and see it become the largest single supplier of ore to the industrial park. With jetty capacity and barge availability having been a constraint to selling larger volumes of ore, the completion of this haul road is a game-changer for our mining operations. With haulage and road maintenance contracts now finalised, we look forward to commencing the trucking of ore down this road with the aim of achieving a targeted run rate of 10 million tpy of ore sold by the end of 2023. With the mine having made US$52 million in EBITDA from selling 3.5 million t of ore last year, the ability to increase sales volumes beyond 10 million tpy is set to see Hengjaya Mine deliver a significantly increased financial contribution to our overall group result moving forward. At a cost of approximately US$17 million the increased production and financial contribution will represent an attractive return on investment for the company and its shareholders.“Finally, I would like to acknowledge our Chief Operating Officer, Tony Green, and our dedicated team of employees and contractors that have worked diligently to deliver this project. Their efforts are greatly appreciated and we now look forward to seeing this haul road deliver long term benefits to the company’s operations.”Image source: https://nickelindustries.com/Source: https://www.globalminingreview.com/mining/08082023/nickel-industries-completes-hengjaya-to-imip-haul-road/

The Ministry of Energy and Mineral Resources (ESDM) is targeting an increase in national coal production entering the second half of 2023.Director of Coal Business Development at the Directorate General of Minerals and Coal at the Ministry of Energy and Mineral Resources, Lana Saria, said that coal production activities throughout the first half of 2023 ran smoothly."It is possible that there will be plans to increase production considering that currently many coal companies are proposing to increase production," Lana told Kontan, Monday (7/8).Lana explained, based on the evaluation carried out, there were no significant challenges for production activities in the first half of 2023.According to him, many companies holding Coal Mining Business Work Agreements (PKP2B), Special Mining Business Permits (IUPK) to Production Operation Mining Business Permits (IUP OP) are proposing to increase production through the mechanism for changing the 2023 Work Plan and Budget.As production activities run smoothly, Lana ensures that the commitment to fulfill coal for the domestic sector or the Domestic Market Obligation (DMO) runs smoothly. It was recorded that the realization of coal production for the period January - July 2023 reached 369.17 million tons or 53.16% of the planned coal production of 694.50 million tons.Meanwhile, until the June 2023 period, the realization of coal exports was 249.03 million tons and DMO was 97.17 million tons. "Until now the commitment to fulfilling the DMO is still running smoothly. This is proven by the fact that until now there have been no reports of shortages of coal stock by domestic end users ," explained Lana.Lana added, mining companies had also fulfilled their DMO obligations in accordance with the DMO assignment letter given by the Directorate General of Mineral and Coal of the Ministry of Energy and Mineral Resources.Previously, the Executive Director of the Indonesian Coal Mining Association (APBI) Hendra Sinadia explained that the commitment of member companies in supplying coal to the country was going well.So far the company's commitment is good, PLN's generator operation day (HOP) is reportedly also within safe limits," explained Hendra to Kontan, recently.Image source: KONTAN/MuradiSource: https://industri.kontan.co.id/news/kementerian-esdm-berencana-tingkatkan-produksi-batubara-nasional-tahun-ini