Coal companies ensure that the commitment to fulfill domestic coal or the Domestic Market Obligation (DMO) continues.Executive Director of the Indonesian Coal Mining Association (APBI) Hendra Sinadia explained, the commitment of member companies in supplying coal to the country is going well."So far the company's commitment is good, the Operational Day (HOP) of the PLN generator is reportedly also within safe limits," explained Hendra to Kontan, Sunday (16/7).Hendra emphasized that in the remainder of this year his party hopes that the coal MIP scheme can be completed.Plt Director General of Minerals and Coal Muhammad Wafid revealed, so far there has been no recent development of the formation of MIP Coal.However, the government guarantees that coal companies' DMO commitments are fulfilled."Everyone hopes that (MIP will be completed), what is clear is that the government has an interest in guaranteeing DMO. So far it is safe for PLN's supply," said Wafid when met at the Ministry of Energy and Mineral Resources Building, Monday (17/7).Meanwhile, Director & Secretary of PT Bumi Resources Tbk ( BUMI ) Dileep Srivastava explained, his party has no plans to change the coal production target for this year which is in the range of 75 million tons to 80 million tons.In addition, it is ensured that DMO commitments continue to be fulfilled. "Our DMO commitment is 25% of production," explained Dileep to Kontan, Sunday (16/7).In the first quarter of 2023, BUMI recorded a volume of coal mined of 16.1 million tons, a decrease of 1.22% from the previous 16.3 million tons in the first quarter last year.The commitment to fulfill the DMO was also conveyed by PT Adaro Energy Indonesia Tbk ( ADRO ).Adaro Energy's Head of Corporate Communication Febriati Nadira said domestic coal sales were one of the company's main sales objectives."Sales to Indonesia account for 25% of Adaro's total sales in the first quarter of 2023," explained Febriati to Kontan, Sunday (16/7).Just so you know, ADRO's production and sales volume in the first quarter of 2023 rose 29%, to 15.69 million tons and 15.72 million tons, respectively.In comparison, production and sales volumes in the first quarter of last year were only 12.15 million tonnes and 12.20 million tonnes respectively.Image source: ANTARA FOTO/Nova WahyudiSource: https://industri.kontan.co.id/news/pengusaha-batubara-pastikan-komitmen-dmo-terpenuhi

PwC Indonesia in the release of PwC Indonesia Economic Update-Q2 2023 stated that the world economy is entering 2023 with optimism. This was driven by China's reopening and Europe's better-than-expected economic performance in overcoming the Russia-Ukraine conflict."However, during the first semester of 2023, there were several important economic events that reduced global economic optimism. First, a series of banking failures in the US and Europe, which demonstrated the vulnerability of the global financial system," said PwC Indonesia Investment Director Julian Smith, quoted from a written statement. , Thursday, 13 July 2023.Second, the Eurozone has officially entered a recession, which was marked by a contraction in GDP in the fourth quarter of 2022 and the first quarter of 2023. Third, the new normal of high interest rates is expected to persist as the fight against inflation continues.Meanwhile, Indonesia's economic growth remained strong amidst a global economic slowdown driven by improving domestic demand and continued positive export performance. Industry-wise, growth in the first quarter of 2023 was mainly led by transportation and warehousing, as people's mobility increased and the arrival of foreign tourists.Furthermore, Indonesia's total investment realization in the first quarter of 2023 amounted to IDR 328.9 trillion, equivalent to 23.5 percent of the total investment target in 2023. This realized value was mainly contributed by investments outside Java, where Central Sulawesi is seen as the top for the purpose of Foreign Investment (PMA)."It is driven by the reserve factor of its mineral resources. However, the global economic slowdown could hinder Indonesia's progress in achieving this year's investment realization target," he said.Julian noted, in 2023, the infrastructure budget is directed at accelerating infrastructure development that supports economic transformation and new growth centers, such as the completion of the National Strategic Project (PSN), the implementation of the Public Private Partnership (PPP) financing scheme, and many more.PwC Indonesia Head of Research and Economics Denny Irawan added, domestically, Indonesia's extraordinary economic recovery continues by recording GDP growth of 5.03 percent YoY in the first quarter of 2023. Inflation has declined moderately since January 2023, touching 4% YoY in May 2023."Exports remained strong and were the biggest contributor to growth in the first quarter of 2023, recording 11.68% YoY growth, driven by China's domestic recovery," he concluded.Image source: Ministry of FinanceSource: https://www.medcom.id/ekonomi/makro/ybDrG1pK-perekonomian-indonesia-tetap-stabil-di-tengah-meningkatnya-ketidakpastian-global

Niche Capital Emas Holdings Berhad's Board of Directors has announced a recent development in its business ventures. On July 12, 2023, the company entered into a memorandum of understanding (MOU) with PT Advance Nickel Energy (PT ANE) to establish a basis for cooperation and collaboration. The primary objective of this partnership is to undertake a proposed nickel venture in Indonesia. It is important to note that the MOU is non-binding, serving as a platform for discussions and further negotiations between the parties involved. Its validity depends on the execution of a definitive agreement.Niche Capital Emas Holdings Berhad (NICE) is seeking to invest in and enter the mining industry through various potential arrangements with PT ANE. These arrangements may include, but are not limited to: a) acquiring shares or subscribing to shares in PT ANE, b) establishing a joint venture or business collaboration in mining services, mining transport, and sale business, c) cooperating on contractor works, d) entering into off-take arrangements with authorized mining license holders, or e) exploring other permissible arrangements under Indonesian laws, as mutually determined by the parties. The initial term of the MOU is three months from the date of signing, with the possibility of extension by written agreement.NICE's rights under the MOU include conducting comprehensive legal, commercial, and business due diligence and feasibility studies related to the proposed collaboration. This assessment aims to evaluate the potential benefits and considerations involved in pursuing the Planned Cooperation. However, no payment or reimbursement will be made to PT ANE until a more definitive cooperation agreement is mutually agreed upon.The obligations of NICE and PT ANE within the MOU encompass working together in good faith to realize the Planned Cooperation. This involves facilitating communication, exchanging information, data, and relevant documents, as well as upholding confidentiality provisions. Both parties are responsible for any costs incurred during the implementation of the MOU. PT ANE, additionally, must provide all requested documents, including those necessary for NICE's due diligence process, and notify NICE of any material business plans that could significantly impact the ongoing due diligence exercise and the Planned Cooperation. Furthermore, PT ANE must ensure the cooperation of any third party with a valid mining business license by providing the required documents and information to NICE or its appointed advisers.Termination of the MOU can occur through mutual agreement, the signing of a definitive agreement, or if Indonesian law or government policies prohibit the Planned Cooperation.The MOU is governed by Indonesian law and is executed in both English and Indonesian languages. In case of any disputes, the parties involved will seek resolution through deliberation to reach a consensus. Despite any disputes, the parties remain obligated to implement the terms stated in the MOU.Image source: NICESource: https://www.marketscreener.com/quote/stock/NICHE-CAPITAL-EMAS-HOLDIN-20701549/news/Niche-Capital-Emas-Holdings-Berhad-Enters-into-Memorandum-of-Understanding-with-PT-Advance-Nickel-En-44321304/

The Sihayo project now contains a total resource of 24.8 million tonnes grading two grams per tonne gold for 1.57 million ounces, a 10% increase in the gold endowment since last year's resource estimate. That includes 677,000oz grading 4.7gpt in higher grade ore, based on a 3gpt cut-off, a 22% increase over the 2022 resource, while the deeper drilling has delivered a 67% boost in the yellow metal below the proposed pit at 304,000oz, further enhancing underground mining potential at the southern end of the pit limits.The additional below-pit resource is primary sulphide-refractory gold mineralisation.Executive chair Colin Moorhead said the starter project remains sensitive to the addition of incremental ounces, and increasingly supported the potential for an underground operation as part of its early development plans.Sihayo's modelling suggests the high-grade gold mineralisation extends for at least 200m below the base of the planned starter pit, is open to the southeast, and potentially to the northwest. With additional drilling, it is confident of adding ounces. With the updated resource in hand, Sihayo will now undertake an underground concept study.Earlier this year it released an economic study for the starter project examining the use of caustic leaching, which it identified as being a way of unlocking the deeper, high-grade mineralisation, improving overall recoveries substantially over the life of the project's earlier plan to use a CIL plant. The project would increase recoveries from 551,000oz to 653,000oz at a slightly higher all-in sustaining cost of US$1007/oz, allowing for post-tax cashflow of $277 million over the 6.5-year life of the starter project.Capital costs were estimated at $221 million, which would take about 3.75 years to pay back with a 20% internal rate of return.The company ended the March quarter with just A$1.1 million cash, and debts to its major shareholder Singapore-based Provident Minerals worth US$5.5 million. In May, underwrote a A$12 million entitlement offer at 0.2c per share, mainly to repay its loans.Provident now owns 31.1% of Sihayo, alongside new substantial holder Santoso Kartono at 14.9%.Provident allies Eastern Field Developments (6.2%) and Saratoga Investama (5.6%) are also significant holders.Sihayo's shares have traded at 0.1-0.3c over the past year and at 0.2c, the company was valued at $24.4 million.Image source: SihayoSource: https://www.miningnews.net/resource-definition/news/1455887/sihayo-increases-indonesian-gold-endowment

PT Vale Indonesia Tbk (INCO) has the opportunity to acquire 30% stake in a nickel factory with high pressure acid leach (HPAL) technology in the Pomalaa Block, Kolaka Regency, Southeast Sulawesi owned by PT Kolacka Nikel Indonesia (KNI), five years after KNI complete construction of the facility. Currently, Vale holds 20% of the company's shares. The factory will produce mixed hydroxide precipitate (MHP), an intermediate nickel product that is used as raw material for electric vehicle ( EV ) batteries. In the nickel business tree, MHP is further processed into nickel sulfate, the positive pole (cathode) material (cathode) of EV batteries along with lithium, manganese/aluminum, and cobalt sulfate.Bayu Aji, head of communications at Vale Indonesia, emphasized that the company has the option to increase its share portion in KNI. If Vale chooses to exercise the option, the composition of KNI's shareholders will be Huayou (indirectly) 53%, Ford 17% and Vale Indonesia 30%."Currently, Huayou is the party responsible for the development of the HPAL, because it is the majority shareholder of KNI, while PT Vale is the minority shareholder," he told Investor Daily , Monday (17/7/2023).According to Investor Daily's records , the factory will produce MHP with a capacity of 120 thousand tons per year. The Pomalaa Block HPAL project will process Vale Indonesia's nickel ore from the Pomalaa Block mine.Initial site preparation for this HPAL project has commenced and full construction is expected to commence this year and commercial operations commence in 2026. This collaboration will provide critical materials for the automotive industry's shift to EVs, boost Indonesia's EV manufacturing industry, and support Ford's plans to produce production of 2 million EVs by the end of 2026 and further scale gradually.The three-way nickel processing project will collectively be combined with Ford's other nickel sources, thereby contributing significantly to supporting the US company's EV production target through the end of 2026. This includes separate supply agreements in development with Ford and Huayou for cathode precursor active material which is important for the manufacture of lithium-ion batteries. Capex estimateOn the other hand, JP Morgan held the JPM Asean Energy & Metal forum, 11-12 July 2023, which was attended by energy and mineral companies, including Vale Indonesia, PT Merdeka Copper Tbk (MDKA), PT Merdeka Battery Materials Tbk (MBMA), and PT Trimegah Bangun Persada Tbk (NCKL) or Harita Nickel.The discussion that developed in the forum was mostly about the progress of the snapper nickel project. In the case of Vale Indonesia, there is a project to build a ferronickel factory in Bahodopi with a capacity of 73 thousand tons per year and HPAL in Pomalaa and Sorowako with a capacity of 180 thousand tons per year.On that occasion, Vale Indonesia's management emphasized that there was a possibility of a delay in the Bahodopi project. However, Tisco, Vale's partner in the project, has received approval and the final funding scheme is expected to be issued in July 2023. So far, wrote JP Morgan, Vale and its partners have disbursed US$ 50 million in Bahodopi for land preparation.Investor Daily notes , Vale has worked on a nickel mining and smelter project in Morowali, Central Sulawesi (Central Sulawesi), which required an investment of Rp 37.5 trillion. This was marked by the laying of the first stone at the mining and smelter site . The smelter will be built and operated by PT Bahodopi Nickel Smelting Indonesia or BNSI, a joint venture between Vale Indonesia and Tisco and Xin Hai and will use rotary kiln electric furnace (RKEF) technology, which processes nickel ore into ferronickel with a capacity of 73 thousand tons per year.Vale holds 49% of the company's shares, while Tisco and Xin Hai hold the rest. The smelter will process nickel at the Bahodopi mine, Central Sulawesi, which is 100% owned by Vale Indonesia.The interesting thing, wrote JP Morgan, is that Vale's management predicts that Bahodopi and HPAL's  capex will decrease, while cash funds for the HPAL project are likely to disburse in 2027. This is inseparable from Vale's option to increase its shareholding in KNI.In total, Vale Indonesia's capex in the next 3-4 years is predicted to be around US$ 1.5-1.8 billion, excluding the option to add KNI shares. JP Morgan believes this is not a problem for Vale Indonesia, because the company can earn US$ 300 million in EBITDA per year from selling nickel ore to the HPAL project.Image source: B-Universe Photo/Mohammad DefrizalSource: https://investor.id/market/335370/vale-inco-berpotensi-kuasai-30-saham-megaproyek-nikel-ev

Archi Indonesia (ARCI) spent USD 4.01 million or IDR 60.2 billion in exploration funds. This fee is for exploration activities for the January-June 2023 period. Exploration activities are carried out by Meares Soputan Mining (MSM) and the Tondano Nusajaya Mine (TTN).Exploration activities for the January-June 2023 period focus on mapping activities, soil sampling programs, and IP geophysics in the greenfield area, and semi-detailed to detailed mapping in the brownfield area of ​​the western corridor project.Exploration drilling activities and development of Gold Resources (Gold Resource Definition) in the western corridor project, and exploration drilling in the eastern corridor. Drilling activities for gold resources, and exploration using the diamond drilling (DD) drilling method, and reverse circulation (RC) were completed through agreements/contracts with PT Maxidrill Indonesia. Archi owns 100 percent of the Toka Tindung Gold Mine, located approximately 35 km northeast of the capital Manado, North Sulawesi, via MSM, and TTN. The Toka Tindung Gold Mine consists of two long-term contracts of work covering a total area of ​​39,817 hectares spanning North Minahasa Regency and Bitung City, North Sulawesi. The contract of work, valid until 2041, is held by MSM and TTN. In accordance with changes to the mining law, MSM and TTN were guaranteed two more contract extensions of work in the form of a Special Mining Business Permit (IUPK), each extension for a maximum period of 10 years. Image source: EmitenNews.comSource: https://emitennews.com/news/eksplorasi-emas-toka-tindung-archi-indonesia-arci-habiskan-anggaran-rp602-miliar

PT Cita Mineral Investindo Tbk (CITA) announced CITA's exploration activities in the second quarter for the period April to June 2023.CITA Corporate Secretary Yusak Lumba Pardede in his written statement Monday (10/7) said that the exploration area in the Blocks of Sandai Kanan, Muara Jekak, Meraban, Lembah Hijau and Simpang Dua and its surroundings uses the core drilling method and Uji wells.Yusak further explained that the exploration results in the Sandai Block yielded 1,355 samples & Area 143.8 Ha, 585 Drill/Drilling Grid 50 with 852 samples then 16 Tetpit Grid 50 with 94 samples & Area 156.8 Ha, 627 Drill/Drilling Grid 50 with 1,860 samples in the Muara Jekak Block.The exploration at Simpang Dua produced 31 Drilling Grid 50, Grid 100 with 80 samples and 75 Testpit Grid 50 with 109 samples & an area of ​​23.25 Ha, 93 Drilling Grid 50 with 168 samples in the Lembah Hijau Block.Thus the total exploration costs incurred by CITA in the April to June 2023 period amounted to IDR 2.15 billion.Image source: EmitenNews.comSource: https://www.emitennews.com/news/habiskan-miliaran-rupiah-cita-mineral-cita-eksplorasi-3-lokasi-ini

PT Merdeka Battery Materials Tbk (MBMA) continues exploration activities with a focus on nickel resources in Sulawesi Cahaya Mineral (SCM). Where in the second quarter of 2023, a subsidiary of PT Merdeka Copper Gold Tbk (MDKA) owned by Garibaldi Thohir has poured out quite a large amount of exploration funds.GM Legal/Corporate Sectretary of PT Merdeka Battery Materials Tbk Deny Greviartana Wijaya said the total estimated exploration costs incurred for the SCM project or mine in the April to June period were IDR 31.3 billion. Consists of drilling the life of mine resources and associated test work. The area is the SCM project, Konawe, Southeast Sulawesi.The areas selected for the exploratory drilling program are areas that are close to the current mine pits and in accordance with future mining plans."A total of 304 drill holes have been completed with a total of 8,178 meters during the second quarter of 2023," he said in the IDX information disclosure quoted on Wednesday (12/7).All work was completed by PT Sulawesi Cahaya Mineral. The next follow-up plan is that the diamond drilling program will continue using 15 drill rigs for resource and exploration drilling. Merdeka Battery Materials said Deny has several high-quality business assets in the strategic mineral value chain. As well as raw materials for electric motorized vehicles located in Central Sulawesi and Southeast Sulawesi.Image source: MBMASource: https://katadata.co.id/lonaolavia/finansial/64adecbf32a67/merdeka-battery-ungkap-perkembangan-terkini-eksplorasi-nikel-di-scm

Indonesia may have its own nickel price index. Currently, the Indonesian Nickel Miners Association (APNI) and the government, in this case the Coordinating Ministry for Maritime Affairs and Investment (Kemenkomarves), are working hand-in-hand to make preparations to realize this ambition.APNI Secretary General Meidy K. Lengkey said domestic nickel industry stakeholders plan to meet with a number of price index providers such as Argus Media and the London Metal Exchange (LME)."They (LME, Argus Media, etc.) are experts in pricing commodities," said Meidy in Jakarta, Monday (10/7).The discourse to form an Indonesian Nickel Index has been rolling in the last few years. The goal is to form a price index that better reflects domestic nickel prices. This is because currently the benchmark mineral price (HPM) is still oriented to the price from the London Metal Exchange (LME).The idea to form an Indonesian nickel index was initiated by APNI. According to Meidy, this plan has received the green light from the government. "Now it's with the government, it's progressing, it's still on progress. Later maybe in August and September the smelters will be invited by Pak Luhut," said Meidy.APNI and the government's intention to form their own nickel index was confirmed by the Spokesperson for the Coordinating Minister for Maritime Affairs and Investment Jodi Mahardi. According to the plan, the index will be named Indonesia Nickel Price Index."Indonesia is planning to form the Indonesia Nickel Price Index which is targeted to be formed by the end of this year," said Jodi when contacted on Tuesday (11/7).Jodi said, the concept of forming the Indonesia Nickel Price Index is in line with the existing concept of Reference Coal Prices (HBA). The existence of the Indonesia Nickel Price Index, according to Jodi, can bring a number of benefits. One of them is providing price certainty for mining business actors and smelter owners and protecting them from price fluctuations on the LME market."By having our own nickel price index, we can better monitor market conditions and adjust policies as needed," said Jodi.Chairman of the Association of Indonesian Mining Experts (Perhapi) Rizal Kasli said it was fitting for Indonesia as a country with large nickel reserves to have a nickel index. According to him, the index needs to be pursued so that it can be used as a basis for reference for world nickel sales. "The first advantage is Indonesia's recognition as the world's largest producer of nickel. Second, we can control world nickel prices. Third, miners, traders and the government have a price standard as a benchmark that does not depend on institutions from other countries," Rizal told on Tuesday (11/7).Nickel companies, including PT Trimegah Bangun Persada Tbk (NCKL), received a positive response to the plan to form an Indonesian nickel price index."We support the government's plan to form a nickel index which can later become a reference for the price of nickel produced and sold in Indonesia," NCKL's Corporate Affairs Manager, Anie Rahmi told on Tuesday (11/7).Director of PT Central Omega Resources Tbk (DKFT), Andi Jaya, said that the formation of the Indonesian nickel index would make the nickel trading system more in line with domestic conditions.In addition, according to him, this step can also help nickel industry stakeholders make better decisions."With the existence of the Indonesian Nickel Index, it can provide more detailed and transparent information regarding nickel prices and trading activities in the domestic market, so that industry players, investors and other stakeholders can get a clearer view of market trends and make good decisions. ,” explained Andi.Finance Director of PT Vale Indonesia Tbk (INCO), Bernardus Irmanto, said that the formation of the Indonesian nickel index could provide a large bargaining position for Indonesia in the nickel industry."As the owner of the largest nickel ore deposit, it is appropriate for Indonesia to have bargaining in determining pricing," said Irmanto.Nevertheless, he admits that he has not been able to measure the impact of the establishment of the index on business actors."Actually, for businesses, we need a functioning index, so that it provides a degree of certainty for our revenue. I can't comment yet whether (the Indonesian nickel index) is better for businesses (compared to the LME) before knowing how the index was formed," said Irmanto.Image source: ANTARA FOTO/JOJONSource: https://industri.kontan.co.id/news/indonesia-nickel-price-index-ditargetkan-terbentuk-akhir-2023

PT United Tractors Tbk (UT) won an award as the best workplace in Asia. This award was given directly by Dato William Ng (Group Publisher Editor-in-Chief Business Media International) to Abun Jufar Jaya (Human Capital General Manager) and Nurdiansyah Budiman (Organization Development & Productivity Senior Manager) who took place at the Ritz Carlton Pacific Place Hotel , Jakarta. The categories given to UT as a company that implements Diversity, Equity, and Inclusion (DEI) and the Best Companies to Work for in Asia.This award is given by HR Asia as an international publication media institution for professionals in the field of Human Resources which measures how companies carry out Human Resources (HR) practices by demonstrating a high level of employee engagement and an excellent workplace culture.In the Diversity, Equity, and Inclusion (DEI) category, this award refers to UT's commitment to creating an inclusive and equal work environment. This achievement is concrete proof that UT has a high commitment in implementing DEI in the company's business operations.In addition, the award for the best workplace in Asia category shows that UT always pays attention to the welfare, health and balance of its employees. The various initiatives and programs that UT carries out aim to have a positive impact on a good work environment. With this, UT will continue to strive to prioritize holistic employee development.Human Capital General Manager, Abun Jufar Jaya said that the achievements at this event were a sign of UT's commitment to prioritizing the health, welfare and development of its employees. UT will always provide career development opportunities and encourage balance and integration in the work environment.“UT would like to thank HR Asia for the award given to our company. This award further motivates us to continue to strive for a comfortable work environment in order to achieve maximum productivity through various systematic competency and capability improvement programs," said Abun Jufar Jaya.This award was given to more than 300 companies from 13 countries who participated in this prestigious event. These countries include China, Cambodia, Hong Kong, Indonesia, India, Korea, Macau, Malaysia, Philippines, Singapore, Taiwan, Thailand and Vietnam. The appraisal process involves comprehensive steps, including online surveys of employees, office visits, presentations, and audits.Through this award, UT will always be committed to improving a conducive work environment to support business operations in achieving productivity and targets to be achieved. Not only that, UT also puts forward the sustainability targets that have been set out in UT's 10 Sustainability Aspirations so that the Company's vision and mission to create benefits for stakeholders and the welfare of Indonesia can be achieved.PT United Tractors Tbk (UT) which is known as the largest heavy equipment distributor in Indonesia has been established since 1972. Currently UT has grown and has six business pillars, namely Construction Machinery, Mining Contracting, Coal Mining, Gold Mining, Construction Industry and Energy . As UT's contribution to achieving the Sustainable Development Goals (SDGs), UT consistently carries out activities that uphold sustainability.As a world-class heavy equipment, mining and energy company with more than 50 years of experience in Indonesia, UT is committed to presenting a sustainable future for Indonesia through the effective application of ESG principles by paying attention to the environment, having a positive impact on the social community, and upholding good governance. a good company at all levels of its business operations, as well as optimizing its competencies, expertise and strategic assets to provide added value to all stakeholders and the people of Indonesia.Source: PT United Tractor TbkImage source: https://pressrelease.kontan.co.id/news/united-tractors-raih-penghargaan-tempat-kerja-terbaik-di-asia-versi-hr-asia