Asia's imports of seaborne thermal coal surged to the highest on record in May as cheaper prices tempted buyers in the region's developing economies.A total of 78.38 million tonnes of the fuel used primarily to generate electricity is likely to be offloaded across Asia in May, according to data compiled by commodity analysts Kpler.This is the most in Kpler data going back to January 2017, while Refinitiv data also shows record imports in May in data stretching back to January 2015.The robust May outcome comes on the back of strength in both March and April, with those two months being the second- and third-strongest months according to Kpler data.Rising thermal coal imports come as seaborne prices for the fuel continue to decline, with two of the more popular grades slipping to 16-month lows in the week to May 26.Australian coal at Newcastle Port with an energy value of 5,500 kilocalories per kg (kcal/kg) , as assessed by price reporting agency Argus, ended last week at USD 96.54 a tonne, the first time since December 2021 that it has dropped below the USD 100 level.Indonesian coal with an energy value of 4,200 kcal/kg slipped to USD 65.28 a tonne, the lowest since January 2022 and just over half of the peak of USD 120.86 reached in March last year in the wake of Russia's invasion of Ukraine.Both these grades are popular in China and India, the world's two biggest coal importers, as well as in other developing Asian economies such as Vietnam, Thailand and Malaysia.China's imports of thermal coal remained at elevated levels in May, with Kpler estimating arrivals of 28.24 million tonnes, slightly below April's 28.42 million and March's 28.40 million.It's worth noting that the past three months have been the strongest in Kpler's data going back to January 2017, with May's imports being 137% higher than the same month in 2022.China has turned to seaborne thermal coal to meet rising electricity demand, with thermal power plants generating 83 billion kilowatt hours (kWh) more in the first four months of the year, compared with the same period in 2022.Coal-fired generation increased as hydropower struggled, with output from the clean power source dropping by 42 billion kWh in the January to April period.Imports of thermal coal by China, Japan, IndiaINDIA SURGEIndia, the world's second-biggest coal importer, has also ramped up purchases, with May arrivals of thermal grades estimated by Kpler at 16.62 million tonnes, up from April's 14.37 million and the most since July last year.Hotter than usual weather and solid economic growth are driving India's imports, with lower prices meaning coal-fired power plants that run on imported fuel can make profits even when selling into India's price-regulated electricity markets.Other buyers in developing Asian markets are also seeing rising thermal coal imports, with Vietnam expected to land 2.90 million tonnes in May, up from 2.09 million in April and the most since June 2020.Malaysia's imports are expected to be 3.26 million tonnes in May, up from 2.64 million in April and the most since March 2020.While lower prices and rising electricity demand are driving thermal coal imports in developing Asia, the advanced economies in north Asia are experiencing their usual seasonal lull between winter and summer peaks.Japan, Asia's third-biggest coal buyer, is estimated by Kpler to have imported 6.95 million tonnes of thermal grades in May, down from April's 8.55 million and 10.60 million in March.Fourth-ranked South Korea will import 6.03 million tonnes in May, down from 6.70 million in April and 6.42 million in March.These two countries tend to favour high-grade Australian coal, the price of which has also been sliding.The weekly Newcastle Index for 6,000 kcal/kg coal dropped to a 22-month low of USD 146.78 a tonne in the week to May 26, and is now down 67% from its record high of USD 442.89, reached in September last year.The bigger fall in the price of higher quality Australian thermal coal when compared to lesser grades is likely a reflection of the stronger demand for lower-quality fuel in price-sensitive buyers in Asia.Image source: REUTERS/Daniel MunozSource: www.reuters.com/Asia's seaborne thermal coal imports hit record high as prices slip

PT Trimegah Bangun Persada Tbk (NCKL) or Harita Nickel continues to strive for effective and efficient use of energy in the company's nickel processing process.Head of Technical Support Harita Nickel Rico Windy Albert said, one example of optimal energy use in the company's production facilities has been implemented at one of the nickel smelters operated by a subsidiary entity, namely PT Halmahera Jaya Feronikel (HJF).Meanwhile, the smelter processes high grade nickel ore or saprolite into ferronickel using a pyrometallurgical processing system called Rotary Kiln Electric Furnace (RKEF).Rico said, to support the operation of the smelter facility, the company has 4 steam power generator units, each of which produces 150 megawatts of electricity or a total of 600 megawatts."The power produced from this PLTU uses coal gasification, so the combustion is cleaner," said Rico when met by the EV Exploration Team in Kawasi, Obi Island, North Maluku.He said that the effective use of energy in the production process was carried out by implementing a heat recovery system at each stage of ferronickel production. He said that the heat recovery system was implemented so that all the power produced in coal gasification at the PLTU could be used effectively.He explained that the excess heat energy produced during the process of smelting nickel ore in an electric furnace would be utilized in the previous production stage, namely calcination in a rotary kiln.Then, the excess heat energy in the calcination process will also be used in the previous stage of ferronickel production, namely drying nickel ore.Apart from that, the HJF smelter also has a water management system that can be reused in the manufacturing process."We have a holding pond to deposit rainwater and used nickel processing water, we pump it so it can be used by the smelter, so it doesn't go to waste," said Rico.Separately, Environmental Superintendent Harita Nickel Indra Maizar said that the company has a special water management system for use in nickel production activities. Indra said that Harita Nickel has two special ponds which function to collect rainwater and water used by production activities from the smelter.He said that rainwater that had been collected in the pond was pumped to the company's smelter facility to be used in the production process. The waste water used from production is then channeled back into a different pond for storage."The water will later be pumped to the smelter to be used again in the nickel processing process," said Indra.Image source: JIBI/Bisnis/Fanny KusumawardhaniSource: www.ekonomi.bisnis.com/Jelajah EV: Harita Nickel Tingkatkan Efisiensi Energi dalam Proses Produksi

Safety is one of PT Berau Coal's focuses in carrying out coal mining operations in Berau Regency, East Kalimantan. One of the innovations promoted by management is the application of Artificial Intelligence (AI) technology in mining activities, through the Mining Eyes Analytics (MEA) application. Berau Coal management even claims that this application of AI is the first to be implemented in a coal mining environment.MEA is applied in monitoring vehicle and human traffic activities in mining areas. Through the applied AI, now the distance between mining trucks when transporting can be set at a safe distance via the mining eyes application.MEA detected several activities, distance along mine transport vehicles. Second, people outside the unit cabin or post area. This critical distance is critical, when in analytics there is an alert if it is too close. Then all workers are not allowed to leave the facilities, heavy equipment or posts, within a distance of 20 meters from their safe radius, unless they communicate first with the control room to install certain signs.The facilities (vehicles) are limited, there are not too many in the pit, the risk is too dangerous, there are facilities, a track, when the means enter the pit an alert will appear. Check whether you have coordinated with the control room."In the past it was only through cameras, but now we use AI so we know directly how far the trucks are, then if they are too close, we intervene from here," said Arintoko Saputro, Deputy Head of Engineering for the Berau Coal Mine at the Binungan coal mining site, Wednesday (6/ 12).Apart from trucks, now you can also monitor workers who leave the truck cabin. Apart from direct supervision of mining activities, the AI ​​embedded in this monitoring technology is also able to prevent fatigue experienced by mining truck drivers."So now you can detect drivers who are sleepy, yawning, looking down, looking right and left or not looking at the road. "So there will be an alert that will warn the driver," said Arintoko.The application of AI in this monitoring system has proven to be very effective in reducing the risk of work accidents in mining areas.Meanwhile, Januar, Safety, Health and Environment (SHE) Section Head of PT Pamapersada Nusantara, a working partner of PT Berau Coal, said that innovation makes monitoring work in mining areas much more efficient and covers a wider area than just relying on cameras and officers. Mining Eyes Analytics control room (Photo/Doc/Energy World – Rio Indrawan)“Mining eyes can reduce the number of supervisors, making the range of friends wider. If it's front loading, the supervisor only monitors certain areas, from here everything is visible. "Inspections and supervision can be carried out more frequently, you don't need to go anywhere, just use direct long-distance communication," explained Zanuar.Apart from that, production is also affected by more efficient supervision. "Fleet matching is more appropriate. When fleet matching is more appropriate, production will automatically be better. "It impacts safety and productivity," said Januar.Rudini Rahim, Corporate Communication Superintendent of Berau Coal, explained that PT Berau Coal is a coal mining company that has innovated a lot by using technology and digitalization in its mining operations as a continuous improvement effort to realize smart mining. "Innovation and continuous improvement are continuously encouraged to produce productive, efficient, safe and green operations so that sustainable mining can be realized," said Rudini.One of the digital innovations at PT Berau Coal is a smart application called BEATS or BeGeMS (Berau Coal Green Mining System) Automation Tracking System. This application is used to support monitoring and analysis of operational and K3L activities which were previously carried out manually but now use digital technology. "So that the process of monitoring operations involving more than 24,000 workers can be carried out well," explained Rudini.Image source: Dunia Energi - Rio IndrawanSource: www.dunia-energi.com/Penerapan Artificial Intellegence di Berau Coal Sukses Tekan Risiko Kecelakaan dan Tingkatkan Kinerja Produksi Batu bara

Global top-10 nickel producer Nickel Industries (NIC) has entered a maiden nickel matte sales contract with Glencore, Managing Director Justin Werner announced today.The contract, commencing January 2024 and running for an initial six-month term, will see nickel matte from the Company’s Hengjaya Nickel Project (HNI) sold to Glencore, representing NCI’s first sales to western customers.Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities that advance everyday life.Next to its portfolio of energy products, Glencore is a major producer, recycler and marketer of the transition metals and solutions that support the journey to net zero emissions.Mr Werner said volume and pricing terms remained commercial in-confidence.“We are delighted to have entered into this initial nickel matte sales contract with Glencore with this contract signalling a maturing of our nickel matte business and an important diversification of our customer base into western markets closely linked with the global EV supply chain,’’ Mr Werner said.“Very pleasingly we have seen strong interest from global battery and EV makers for our matte product, and welcome this first contract with Glencore as we continue to broaden of our customer base.”ENDSImage source: Nickel Industries LimitedSource: Sean Waddington (sean@egnmedia.com.au)

PT Vale Indonesia Tbk (PTVI) revealed its contribution to handling climate change. President Director of PTVI, Febriany Eddy, revealed that PTVI's biggest challenge is protecting Lake Matano and the biodiversity in the Wallacea region.Furthermore, Febri also shared information regarding PTVI's significant investment in New Renewable Energy (EBT), namely by building the first Hydroelectric Power Plant (PLTA) in 1978, which was followed by the construction of the second and third hydroelectric power plants in 1999 and 2011."The three hydroelectric power plants produce 365 megawatts of electricity which is 100 percent of the energy source for smelting activities or nickel smelting at the factory," explained Febri.According to Febri, there are three future PTVI projects in Central Sulawesi, Southeast Sulawesi and South Sulawesi. PTVI has invested 8.6 billion US dollars in these three projects and PTVI will use EBT-based energy sources, including optimizing natural gas. Febri emphasized that through this initiative, PTVI must become a low-carbon company in the world."Although the use of natural gas requires higher costs, adding up to USD 300 million to the capex, PTVI still chooses to use this option to reduce emissions," said Febri.PTVI has two major initiatives that will contribute to reducing 700 thousand tons of CO2, namely the use of biomass and the conversion of fuel to natural gas. "We have a clear road map and very detailed project planning. So, what we promise, that is what we will carry out," she said.Meanwhile, the Minister of Environment and Forestry (Minister of LHK), Siti Nurbaya, said that the Indonesian Government was highlighting the results of various practical climate actions carried out in ensuring the achievement of the neutral emission reduction target by 2030 in the forestry and land sector or Forest and Other Land Uses (FOLU). Net Sink 2030 at the 28th UNFCCC Conference of the Parties (COP) in Dubai, United Arab Emirates (UAE)."At COP28, our priority is to highlight the main results of the climate actions we take, especially in ensuring that Indonesia's FOLU Net Sink 2030 climate targets continue to go according to plan," he said.Minister Siti hopes that the results of various climate actions can enable Indonesia to maintain control and play a decisive role in achieving the goal of increasing Net Zero Emissions by 2060 or sooner.Moreover, Indonesia has created a number of monumental steps and policies such as the Forest and Other Land Uses (FOLU) Net Sink 2030 Operational Plan, which was the result of discussions at COP26 in Glasgow two years ago.Image source: CNBC Indonesia/Lucky Leonard LeatemiaSource: www.cnbcindonesia.com/Vale Bocorkan 3 Proyek Terbesar Mereka di Masa Depan

Minister of Industry Agus Gumiwang today, Thursday, December 7 2023, inaugurated the first titanium smelter in Indonesia which is located in Baturusa Village, Merawang District, Bangka Regency, Bangka Belitung Islands Province. The smelter belongs to PT Bersahaja Berkat Sahabat Jaya (SSBJ). Agus explained that the smelter with an investment value of IDR 1.3 trillion is a tin mineral downstream company and is included in Domestic Investment (PMDN). "There are a lot of potential downstream derivatives of tin minerals that we can develop. One of them is the raw material for making titanium, which we are prioritizing," he said on the sidelines of the smelter inauguration.According to him, the development of downstream minerals from Rare Earth or Rare Earth Metals (LTJ) is currently very much needed by companies operating in the downstream industry. "The added value of downstream tin minerals is very large," said Agus.He said that for decades, Indonesia only exported raw materials to other countries and the added value was not enjoyed by Indonesia. "So from now on we have to change it so that we enjoy the added value."According to Agus, Indonesia can still survive amidst the slowing global economy and the obstacles it faces related to climate change and declining prices of leading export commodities. This is because Indonesia's manufacturing and processing industry sectors are believed to continue to grow and become a mainstay."In the third quarter of this year, the manufacturing sector can grow and the growth will be greater at 5.02 percent year on year," said Agus. "Manufacturing growth could be higher than national economic growth, which in the third quarter reached 4.94 percent. We are above national economic growth."Meanwhile, the Main Director of PT BBSJ, Arbi Leo, said that his party would also innovate to process the potential for downstream tin minerals that currently exist. This, he said, is in line with the government's mandate which aims to downstream every mineral potential that exists in each region.According to him, downstreaming does not only stop at titanium products. "There are still many products from associated minerals in Bangka Belitung that we can envision being downstream. In the future we will also try to create a zirconium smelter where we also still have associated mineral products, namely monazite," he said.PT BBSJ also plans to gradually downstream 17 elements found in rare earth metals, especially monazite. "The monazite mineral also contains thorium and uranium. So we hope that PT Bersahaja can continue to be supported so that it can help advance the region and the nation," said Arbi.Image source: REUTERSSource: www.bisnis.tempo.co/Smelter Titanium Pertama RI Dibangun di Bangka Belitung, Nilai Investasi Tembus Rp 1,3 Triliun

PT Aneka Tambang Tbk (ANTM), which is a BUMN Holding Mining Industry, recorded that the profit for the period until the third quarter of 2023 was IDR 2.85 trillion. This achievement grew 8% from the profit for the current period in the first nine months of 2022 which amounted to IDR 2.63 trillion.Apart from that, the company also recorded Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) until September 2023 of IDR 5.40 trillion, a consistent achievement compared to last year's EBITDA achievement.Antam recorded the Company's net cash flow position obtained from operating activities in the third quarter of IDR 3.98 trillion, or a growth of 93% compared to the achievement in 2022 of IDR 2.06 trillion. This achievement strengthens Antam's financial structure with a cash and cash equivalent balance of IDR 7.54 trillion, growing 63% from last year's position of IDR 4.62 trillion.This profit achievement was due to Antam's net sales value of IDR 30.90 trillion with the dominant contribution coming from domestic net sales which reached IDR 26.69 trillion or the equivalent of 86% of total net sales in the third quarter of this year."This achievement is in line with the Company's strategy to develop a domestic customer base for main commodities, namely gold products, nickel ore and bauxite," said Antam President Director Nico Kanter in a virtual Public Expose, Thursday (30/11).He detailed that gold products were the largest contributor to Antam's sales in the third quarter, with a proportion of 62% of Antam's total sales or IDR 19.29 trillion.Meanwhile, the total volume of gold metal production from the Company's mines was 908 kg (29,193 troy oz.), with sales of gold metal in 9M23 reaching 19,460 kg (625,654 troy oz.).The sales contribution of the Nickel Segment (ferronickel and nickel ore products) in the third quarter was recorded at 33% of Antam's total sales with a sales value reaching IDR 10.10 trillion, or growing 19% from the achievement in the same period last year of IDR 8.48 trillion. ANTAM's ferronickel production volume reached 15,787 tons of nickel in ferronickel (TNi), with the sales volume of ferronickel products in the third quarter reaching 14,132 TNi.In nickel ore products, the company recorded a consolidated nickel ore production volume of 10.67 million wet metric tons (wmt), an increase of 72% compared to the achievement in 9M22 of 6.22 million wmt. The growth in nickel ore production levels is in line with increasing domestic demand.Antam's consolidated nickel ore sales volume in the third quarter of this year reached 9.41 million wmt, an increase of 98% compared to last year's sales achievement of 4.75 million wmt.The sales contribution of the Bauxite and Alumina Segment in the third quarter of this year was recorded at 4% of Antam's total sales with a sales value of IDR 1.25 trillion.Throughout the nine months of this year, ANTAM recorded a bauxite production volume used as raw material for Chemical Grade Alumina (CGA) factory ore as well as sales to third parties of 1.42 million wmt, growing 6% compared to the achievement in 9M22 of 1.34 million wmt. Bauxite sales volume in 9M23 was recorded at 989 thousand wmt, an increase of 6% compared to last year's achievement of 936 thousand wmt.Meanwhile, the production volume of alumina products in the third quarter of this year reached 114,524 tons of alumina, with the sales volume of alumina products reaching 108,351 tons of alumina.Apart from that, related to business development projects, ANTAM is focused on completing the Company's strategic projects in 2023, one of which is starting the initial phase of operating the East Halmahera ferronickel plant with a capacity of 13,500 TNi per year.On the other hand, he added, as ANTAM's support for the Government's target of achieving net zero emissions by 2060, ANTAM is continuously implementing green energy in the Company's operational areas."In line with that, ANTAM is involved in developing an integrated Electric Vehicle (EV) Battery ecosystem in Indonesia together with strategic partners," he concluded.Image source: AntamSource: www.cnbcindonesia.com/Antam Cetak Laba Rp2,85 T di Q3, Ini Kontributor Terbesar

PT Bukit Asam Tbk. (PTBA) indicates an increase in production in 2024 in line with the growth of coal train transportation capacity to 52 million tons.Setiadi Wicaksono, Plh. PTBA's SVP Project Magament Office, said that along with increasing PTBA production, the company is also increasing its rail transport capacity.Currently, PTBA has operated 2 coal railway lines, namely Tanjung Enim-Tarahan with a capacity of 25 million tons per year, and Tanjung Enim-Kertapati with 7 million tons per year, bringing the total to 32 million tons per year.In 2024, PTBA will develop 1 additional coal railway line, namely the Tanjung Enim-Keramasan route with a capacity of 20 million tons per year. It is hoped that the new line will be operational in the fourth quarter of 2024."Therefore, PTBA's coal train capacity can reach 52 million tons per year in 2024," he said in Public Expose Live 2023, Monday (27/11/2023).In the long term, PTBA will add a coal train route to the Tanjung Enim-Perajen route with a capacity of 20 million tons per year. This project is expected to operate in the third quarter of 2026.Farida Thamrin, Director of Finance and Risk Management at PTBA, said that the company has the largest coal reserves in Indonesia with total mined reserves of 3.02 billion tons and total resources of 5.85 billion tons. With an estimated production of 30 million tons per year, the total reserves are sufficient for 100 years.However, PTBA certainly wants to capitalize on coal reserves more quickly. Therefore, PTBA is gradually increasing production capacity and also coal transportation via train.As of September 2023, PTBA produced 31.9 million tons of coal, up 15% year on year (yoy) from 27.7 million tons as of September 2022. PTBA's coal sales volume also rose 15% yoy to 27 million tons from the previous 23 .5 million tonnes, and rail transport volume of 23.7 million tonnes, up 12% from the previous 21.1 million tonnes."By the end of 2023, we are targeting coal production of 41 million tons. PTBA wants to gradually increase its production capacity," he explained.PTBA's coal production has tended to increase in the last 3 years. In 2022, coal production will reach 37.14 million tons, in 2021 it will reach 30.04 million tons, and in 2020 (at the peak of Covid-19) it will reach 24.82 million tons.The majority of PTBA coal products range from 4,000-5,000 kacl/kg. According to Farida, PTBA's coal calorie variations are increasingly attracting the interest of a wider range of consumers.Coal PricesWeakening global coal prices also put pressure on PTBA's financial performance even though operational performance increased.Farida Thamrin said that demand for coal until the fourth quarter of 202 is estimated to still be quite high, especially from India, due to the arrival of winter and low coal stocks at PLTUs. Apart from that, there is the potential for increased demand from Japan, South Korea and several European countries.However, Newcastle coal prices are predicted to still weaken in the fourth quarter of 2023 due to the decline in demand for high calorie coal in Europe. It is estimated that the price of coal is around USD 130-140 per ton.Throughout 9 months of 2023, the average price of Newcastle coal has fallen 48% to USD 185 per ton. The average selling price of PTBA coal as of September 2023 is IDR 1.3 million per ton, down from 1 million tons as of September 2022.During the January-September 2023 period, PTBA recorded a net profit of IDR 3.8 trillion or a decrease of 62% compared to the same period the previous year of IDR 10 trillion. Apart from that, PTBA also posted a 12.16% decline in revenue to IDR 27.7 trillion from the previous IDR 31.1 trillion.To get around the decline in coal prices, continued Farida, PTBA carried out load efficiency, optimized mining digitalization, and spurred exports."As of September 2023, the portion of export sales will increase by 15% to 42%, compared to the previous year's 38%. One way for PTBA to deal with the decline in coal prices is to increase exports so that performance is maintained," he explained.The majority of PTBA's sales in the export market are India 14%, followed by South Korea 8%, China 7%, Cambodia 3%, and other countries 10%. According to Farida, PTBA also has a number of customers from European countries.Image source: Aprianto Cahyo NugrohoSource: www.market.bisnis.com/PTBA Targetkan Kapasitas KA Batu Bara 52 Juta Ton pada 2024

Ford Motor Co. will take a direct stake in a battery-nickel plant under construction in Indonesia, deepening its role in the supply chain as carmakers try to secure materials for electric vehicles.The US automaker joins PT Vale Indonesia and China’s Zhejiang Huayou Cobalt Co. as investors in a project to make an annual 120,000 tons of nickel chemicals for EV batteries, according to a joint statement from the companies. The Pomalaa plant is expected to start commercial production in 2026, with total investment at 67.5 trillion rupiah (USD 4.5 billion).The statement did not disclose each company’s share of the investment.Global carmakers are racing to ensure long-term flows of materials like lithium, cobalt and nickel as demand balloons. While direct investments in mines or refineries are still rare, General Motors Co. has invested in a US lithium miner while Tesla Inc. is interested in buying a lithium producer.Indonesia is becoming a major source of battery-ready nickel following a wave of refinery investments in the minerals-rich country, mostly by Chinese companies. Ford, which plans to make 2 million EVs a year by the end of 2026, already had an agreement with Huayou to take battery materials derived from the Pomalaa plant.“This framework gives Ford direct control to source the nickel we need — in one of the industry’s lowest-cost ways — and allows us to ensure the nickel is mined in line with our company’s sustainability targets,” Lisa Drake, vice president for Ford Model e EV industrialization, said in the statement.Pomalaa is a long-delayed project, and an example of earlier efforts to use “high-pressure acid leaching” technology, or HPAL, to make nickel chemicals from low-grade ores. There are now a number of HPAL plants ramping up in the Southeast Asian nation, but there are still concerns about their environmental credentials.“The technology remains difficult to develop and ramp up and manage, compared to other conventional nickel production methods and processes,” said Allan Ray Restauro, analyst at BloombergNEF.Image source: BloombergSource: www.finance.yahoo.com/Ford Takes Stake in Indonesia Nickel Project

Harita Group nickel issuer PT Trimegah Bangun Persada Tbk. (NCKL) acquired PT Gane Tambang Sentosa with a transaction value of IDR 7.9 billion. This action will increase the company's nickel reserves.Harita Nickel management said that the acquisition of 99% shares in PT Gane Tambang Sentosa which is located on Obi Island, South Halmahera, North Maluku will increase nickel ore reserves to 302 million wmt."[This addition] will make Harita Nickel the 5th largest nickel mining company in Indonesia based on resources," said management in an official statement, quoted Thursday (30/11/2023). PT GTS has a non-operating nickel mining concession with an area of ​​2,314 hectares with an IUP valid until 2040. NCKL plans to carry out drilling activities to determine the size of nickel ore reserves and resources.At the same time, Harita Nickel also increased its share ownership in PT Gane Permai Sentosa (GPS) from 70% to 99%. Apart from increasing nickel ore resources and reserves , the acquisition worth IDR 48.8 billion is expected to strengthen the financial contribution to NCKL.At the end of November 2023, NCKL has estimated nickel ore reserves of around 302 million wmt. By carrying out further exploration at the 4 mines owned, namely PT Obi Anugerah Mineral, PT Jikodolong Mega Pertiwi, PT Karya Tambang Sentosa, and PT Gane Tambang Sentosa, the nickel ore reserves needed by the Harita Nickel subsidiary will increase. PT GTS and PT GPS are affiliated companies of Harita Nickel. The acquisition transaction has been carried out transparently in accordance with the assessment of the appointed independent institution from KJPP.As is known, NCKL itself has a Mining Business Permit (IUP) area of ​​around 9,000 hectares, consisting of four mining concessions. Currently, there are two mines that are already operating, and two other mines will be operated to support the supply of nickel ore raw materials in the future. Apart from that, Harita Nickel will also continue to strive to increase mine life and nickel ore reserves by acquiring other mining concessions and collaborating with other local mining companies.Image source: NCKLSource: www.market.bisnis.com/Harita Nickel (NCKL) Akuisisi Tambang Baru, Cadangan Nikel Bertambah