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18 Mar 2024, 17:06 PM

Merdeka Copper Empowered 120 Women to Operate Mining Trucks

Detik.com / Doc. Merdeka Copper Gold
1929 Views
PT Merdeka Copper Gold Tbk (MDKA) is removing the stigma that jobs in the mining sector can only be done by men. 120 women are empowered as haul truck operators at the Wetar Copper Mine Operation managed by PT BKP-BTR (a subsidiary of MDKA).As of February 2024, MDKA employs 796 female employees out of a total of 7,390 employees (approximately 11% of employees) spread across Jakarta and some of MDKA's mining operations in Indonesia. There has been a 2.5% increase in the number of female employees since March 2023 and some of them are at the managerial level."In other words, Wetar Copper Mine operates its haul trucks with 100% female employees. In addition, the Green Operator program at the Tujuh Bukit Banyuwangi Mine Operation, which is managed by PT Bumi Suksesindo (a subsidiary of MDKA), also conducts training and produces a majority of female employees as operators of heavy haul equipment at the Tujuh Bukit mine operation," said MDKA Director of Human Resources Titien Supeno in a written statement, Tuesday (12/3/2024).In terms of organizations, MDKA has also joined national and international organizations related to women, such as Women in Mining & Energy (WiME) and the Indonesia Business Coalition for Women Empowerment (IBCWE). Not just a member, MDKA also actively participates in activities organized by these organizations to strengthen the company's commitment to supporting inclusiveness in the work environment."In addition to the growing number of female workers, as a form of commitment to the principle of human rights, MDKA has also opened equal employment opportunities to our brothers and sisters who have disabilities to work with other employees within the MDKA Group," she said.For the record, MDKA also held a series of International Women's Day 2024 with the theme 'Inspire Inclusion' on March 7-8, 2024. This series of activities is a form of appreciation and pride for the contribution of female workers in MDKA. In the series of events, MDKA supported MSMEs owned by employees and colleagues with disabilities by holding a bazaar and a skills workshop by cooperating with the disabled community forum, namely Setara Berdaya and Precious One.In addition, MDKA also discussed with Komnas Perempuan RI. The theme of the discussion was 'Empowering Women and Promoting Inclusiveness for a Sustainable Economy.' The series of activities is a momentum for the future in increasing support for diversity in the work environment, inclusiveness, and improving facilities aimed at providing comfort for female workers in the company."Going forward, MDKA will continue to develop policies and facilities so that MDKA can be a safe and comfortable workplace for all employees, especially women and people with disabilities. We have facilitated employees with a comfortable lactation room, two days of menstrual leave, female operator positions on site, and a whistleblowing system, professionally managed by an independent consultant, Price Waterhouse Coopers (PWC), specifically designed in the event of violations in our workplace," Titien concluded.Image source: Detik.com / Doc. Merdeka Copper GoldSource: https://news.detik.com/berita/d-7237814/merdeka-copper-gold-berdayakan-120-perempuan-jadi-sopir-truk-tambang 
News
18 Mar 2024, 16:58 PM

Acset Indonusa (ACST) Expands into Mining Construction for Business Diversification

Kontan / Doc. PT. Acset Indonusa Tbk.
1913 Views
PT Acset Indonusa Tbk (ACST) plans to diversify its business into the mining construction sector.As reported in the disclosure of information on the IDX website, Friday (15/3), ACST has conducted a feasibility study for the plan to add business activities, namely mining civil building construction, other mining and quarrying support activities, and telecommunications activities specifically for its own needs.ACST originally had its main business in building construction, civil building construction, and supporting installations.ACST management said there are several reasons why the company wants to diversify its business.For the mining civil building construction sector, ACST sees that the industry is growing rapidly, thus requiring government and private sector support.For the specialized telecommunications industry sector, ACST sees the development of the industry and its market needs to continue.For the mining and quarrying support sector, the company can experience growth in this industry by continuing to implement innovation, sustainability, and good governance."However, the company must still pay attention that the development of this business means the company will have new competitors. To minimize this, Acset will start offering services to companies in the same group and customers/partners," wrote management in the disclosure of information.With the addition of business in the mining construction sector, ACST's total assets are projected to increase by an average of 10.46% in 2024-2028 compared to without the addition.The increase is projected to come from cash and cash equivalents, accounts receivable, customer advances, prepayments, and retention receivables to progress under construction.  "Total assets in the 2028 period are projected at IDR 1.9 trillion with the addition of KBLI (Indonesian Standard Industrial Classification), while without KBLI, it is estimated at IDR 17 trillion," said management.In addition, the company's liabilities with the addition of KBLI are estimated to increase by an average of 11.81% over the same period. The rise came from trade payables, customer deposits, loans, and obligations under capital leases.  Management stated that liabilities in 2028 are projected to reach IDR 1.4 trillion, while without the addition of KBLI, it is estimated at IDR 1.2 trillion.On the other hand, ACST's equity with the addition of KBLI is forecast to increase by an average of 6.28% during 2024-2028 compared to without the addition of KLBI. The increase is expected to come from retained earnings.  "Equity in 2028 is projected at IDR 509 billion, while without the addition of KBLI, it is projected at IDR 449 billion," said management.ACST management explained that this business diversification also aims to develop business activities to adapt to the dynamics of the construction sector, especially in the mining sector. This is a response to the rapid development in the country's mining sector.In addition, ACST Management also considers that the Company is part of the PT United Tractors Tbk (UNTR) group. Thus, ACST has access to a variety of promising potential mining construction projects, emphasizing its position as a reliable, highly qualified partner to meet the construction needs in the mining sector."The company's step in developing its business in construction activities in the mining sector is expected to be a promising milestone in the future for the company," explained the management.Image source: Kontan / Doc. PT. Acset Indonusa Tbk.Source: https://investasi.kontan.co.id/news/diversifikasi-bisnis-acset-indonusa-acst-bakal-garap-sektor-konstruksi-tambang?page=all 
News
18 Mar 2024, 16:50 PM

PLN Ramps Up Electricity Provision to PT KFI, Backing Nickel Downstream Projects in East Kalimantan

KataData / Harita Nickel
2002 Views
PLN signed an agreement with PT Kalimantan Ferro Industry (KFI) on Tuesday (5/3) for the addition of high-voltage electricity to support the nickel downstream industry in East Kalimantan.PLN and KFI have signed an Amendment to the Power Purchase Agreement (PJBTL) for the Addition of High Voltage Consumer Power to increase the supply power from 100 mega volt ampere (MVA) to 300 MVA.PLN President Director Darmawan Prasodjo said that PLN continues to support the downstream of the mineral sector through the provision of reliable and competitive electricity following the government's vision of boosting industrial downstream."Reliable electricity supply has a crucial role in supporting economic growth, including for the industrial segment. PLN is committed to supporting downstream efforts in line with the government's strategy to increase the added value of mining commodities," he said in a press release on Friday (15/3).General Manager of PLN East Kalimantan and North Kalimantan Distribution Unit Agung Murdifi said that the industrial customer segment in East Kalimantan continues to grow every year. For this reason, PLN continues to strive to improve a reliable electricity system to respond to existing growth trends."Providing the best service is our commitment to encourage business growth of business and industry players. Customers should focus on their business development and let PLN take care of the electricity. Besides KFI, there is also growth in electricity consumption for the needs of IKN Nusantara," he explained.Agung continued that the current economic growth in East Kalimantan is sufficient to supply the growing electricity demand. The current supply capacity of the East Kalimantan system is 768 MW with a peak load of 660 MW.The additional electricity for KFI is expected to continue to boost the economic growth of Bumi Etam, especially Kutai Kartanegara Regency. The PT KFI project is targeted to absorb at least 10 to 13 thousand local workers in the future.KFI Owner Representative Muhammad Ardhi Soemargo said that his team had previously agreed on a plan to gradually add power up to 800 MVA from PLN. "The PJBTL that we signed is to accelerate what we have committed," Ardhi said.Head of the Communication Bureau, Public Information Services and Cooperation of the Ministry of Energy and Mineral Resources Agus Cahyono Adi said that refining facilities or smelters need to get support so that downstream can run well."One of the supports needed is the availability of electricity for smelters. With a reliable electricity supply, it is expected that the smelter will produce mineral derivatives by the predetermined target," he said. Image source: KataData / Harita NickelSource: https://katadata.co.id/berita/energi/65f3fd9604da0/pln-tambah-daya-listrik-pt-kfi-dukung-hilirisasi-nikel-di-kaltim 
News
18 Mar 2024, 16:37 PM

Nickel Prices Decline: Trimegah Bangun Persada's (NCKL) Strategic Response

KONTAN / Ardian Taufik Gesuri
1975 Views
Nickel prices have recorded a decline, although they have started to rise in the past month.According to Trading Economics, on Wednesday (13/3), nickel prices fell 20.07% on an annual basis. However, nickel prices have risen 14.49% in the past month to USD 18,325 per ton.Some nickel issuers are also concerned about this. One of them is PT Trimegah Bangun Persada Tbk (NCKL) or Harita Nickel.Investor Relations of NCKL Lukito Gozali sees the volatility of nickel prices, which is influenced by these factors, such as global geopolitical tensions, increased production capacity, the dynamics of the electric vehicle (EV) market, and the global economic conditions.NCKL also sees this condition as a challenge and opportunity. Harita Nickel is optimistic that nickel prices will return to stability even strengthening in 2024-2025."Strengthening nickel prices is supported by estimates of global economic recovery and increased demand for nickel, especially from the electric vehicle battery industry and stainless steel production," he told Kontan on Wednesday (13/3).Based on NCKL calculations, the increase in electric car sales could reach 27 million units per year by 2026. On the other hand, there is a projected growth in global stainless steel production in the next few years."This gives us the confidence that demand for nickel, especially for electric vehicles and stainless steel, will continue to increase. We are also still investing in developing production capacity and operational efficiency," he explained.NCKL targets ferronickel production in 2024 of 120,000 tons of nickel content in ferronickel.The figure is achieved through two Rotary Kiln-Electric Furnace (RKEF) smelters that are fully operational. They are PT Megah Surya Pertiwi (MSP), with an installed capacity of 25,000 tons of nickel content in ferronickel, and PT Halmahera Jaya Feronikel (HJF), with an installed capacity of 95,000 tons of nickel content in ferronickel.Meanwhile, mixed hydroxide precipitate (MHP) products through PT Halmahera Persada Lygend (HPL) have an installed capacity of 55,000 tons of nickel content in MHP.MHP production will increase after the operation of PT Obi Nickel Cobalt (ONC), which has an installed capacity of 65,000 tons of nickel content in MHP."ONC production will be in the range of 20,000 tons - 30,000 tons, along with the operation of three MHP production lines, which will be carried out in stages throughout 2024," he said.Lukito explained that NCKL continues to focus on increasing the added value of nickel derivative products. Therefore, the company appreciates the government's commitment to downstream on Obi Island, which has now been designated, as a National Vital Object and National Strategic Project."We hope that government support and incentives will continue to encourage the growth of downstream and nickel industrialization," he explained.Image source: KONTAN / Ardian Taufik GesuriSource: https://investasi.kontan.co.id/news/harga-nikel-tertekan-simak-strategi-trimegah-bangun-persada-nckl 
News
18 Mar 2024, 16:27 PM

Delta Dunia (DOID) Set to Post a Net Profit of IDR 560.8 Billion for the Year 2023

Bisnis.com / DOID
1965 Views
PT Delta Dunia Makmur Tbk (DOID) recorded an increase in revenue and net profit performance throughout 2023. DOID recorded a net profit of USD 36.01 million or equivalent to IDR 560.8 billion (BI Jisdor exchange rate of IDR 15,576 per US dollar).In its financial report, DOID recorded revenue of USD 1.83 billion, or equivalent to IDR 28.5 trillion in 2023. This revenue increased 18% compared to USD 1.55 billion in 2022. DOID's management revealed that this was its highest revenue on record.Furthermore, DOID revealed that throughout 2023, Delta Dunia Group showed record-breaking performance in terms of overburden removal, revenue, and EBITDA, exceeding the targets set by the Group for the year.This success was largely driven by record overburden removal, which increased by 14% YoY, and production volumes in Indonesia up 10% YoY and Australia up 28% YoY. This was supported by a significant increase from successfully securing some contracts, including BMA's (BHP and Mitsubishi Alliance) Saraji and Burton mines in Australia.Management also explained that DOID's satisfactory performance was driven by the success of obtaining several new contracts, achieving record overburden removal, active cost management strategies, and increased diversification into metallurgical coal, which now accounts for 19% of revenue.The increase in DOID's revenue also contributed to the increase in DOID's net profit. DOID's net profit rose 26% in 2023 to USD 36.01 million, equivalent to IDR 560.8 billion in 2023, from USD 28.6 million in 2022.Delta Dunia Group Director Dian Andyasuri said the strategic transformation of the company's product mix is a response to the global shift towards a low-carbon economy. According to Dian, DOID is currently adapting to the decline in demand for thermal coal."We are capitalizing on the strong demand for metallurgical coal, which continues to be an important ingredient for steel production," Dian said in an official statement on Thursday (14/3/2024).The planned transition is a cornerstone of DOID's diversification strategy, which has yielded substantial results. Metallurgical and infrastructure coal now represents 19% of DOID's revenue and sets DOID on course to reduce its reliance on thermal coal to 50% by 2028."This progress reflects our commitment to sustainable performance and strategic growth," he said.By the end of 2023, DOID also recorded operating cash flow that increased 91% YoY to reach USD 376 million, resulting in a strong cash position of USD 543 million to support DOID's business and drive future growth through acquisitions.Concurrently, DOID has also undertaken strategic initiatives to reduce its debt exposure. On March 5, 2024, DOID announced the implementation of a bond tender offer and consent solicitation to all holders of DOID's 7.75% Senior Notes issued in 2025 to purchase in cash the remaining outstanding balance.As for 2023, DOID's capital expenditure (capex) decreased by 20% YoY to USD 121 million. This decrease was due to the successful completion of several projects in Indonesia, per the 2023 target of USD 105 million to USD 145 million."Maintaining tight control over capital expenditure remains a priority for the group," he said.Image source: Bisnis.com / DOIDSource: https://market.bisnis.com/read/20240314/192/1749164/delta-dunia-doid-cetak-laba-bersih-rp5608-miliar-sepanjang-2023 
News
18 Mar 2024, 16:18 PM

PTBA Cooperates with Chinese Company in Power Plant Project

Bisnis.com
1994 Views
PT Bukit Asam Tbk (PTBA) delivered the latest news regarding cooperation in the wind power plant (PLTB) or wind farm construction with Chinese companies, China Huadian Oversears Investment Co. Ltd. and Huadian Guangxi Energy Co. Ltd.Bukit Asam President Director, Arsal Ismail, said his team is still communicating with Huadian regarding this cooperation."With Huadian, it is not only wind [power], but hydro. It is because the wind in Indonesia is not as big as abroad," Arsal said on Thursday (3/14/2024).For the record, this wind power plant will be located in the South China Sea region. This power plant has a capacity of up to 1.3 gigawatts (GW).Furthermore, Arsal said PTBA has a roadmap for facing the energy transition. According to him, until 2030, PTBA targets the core coal business to contribute 70%, and the remaining 30% is contributed from non-coal such as EBT and several other projects such as downstream.Previously, PTBA management explained that the company had so far built a solar power plant at Soekarno-Hatta Airport in collaboration with PT Angkasa Pura II (Persero), which has been fully operational since October 2020.The PLTS has a maximum capacity of 241 kilowatt-peak (kWp) and is installed in the Airport Operation Control Center (AOCC) building.In addition to Angkasa Pura II, PTBA also cooperates with Jasa Marga Group to develop PLTS on toll roads. The PLTS, with a capacity of 400 kWp, on the Bali-Mandara Toll Road was completed and inaugurated on September 21, 2022.PTBA is also currently exploring opportunities for the development of hydrogen-based renewable energy, both for its own needs and to support the strengthening of partnership needs in PTBA's transportation and production business chain system in the future.Image source: Bisnis.comSource: https://market.bisnis.com/read/20240314/192/1749424/ptba-punya-proyek-pltb-dengan-perusahaan-china-intip-progresnya 
News
18 Mar 2024, 16:08 PM

Tin Supply Trapped in Resource Nationalism Squeeze

REUTERS / Claro Cortes/File Photo
1897 Views
It's no coincidence that nickel and tin are the two strongest performers in the London Metal Exchange (LME) base metals pack this year so far.Supply in both markets is dominated by Indonesia, where production and exports are being affected by delays in approving annual work permits.This is a relatively new phenomenon for nickel. Indonesian production has exploded over the last few years to the point the country now accounts for more than half of global supply.Tin has been here before. Indonesia has long been the world's largest exporter, and the flow of metal to world markets has been interrupted several times in the past when the government tightened production and export rules.Tin's misfortune, however, is that its supply chain is not just beholden to Indonesia's resource nationalism but also to that of the Wa State in Myanmar.DOUBLE TROUBLEIndonesia exported 78,000 metric tons of refined tin last year, equivalent to around a fifth of global demand.Exports this year have slumped to just 55.4 tons, compared with 4,700 tons in January-February 2023.The last time shipments ground to a complete halt was in August 2015, when the authorities introduced "clean and clear" rules on exports to enforce environmental standards.This time it's a change to the annual permitting system. Tin may be coming under special scrutiny due to an unfolding illegal mining scandal.The government has also made no secret of its intention to limit exports as a lever to push its tin sector further downstream.It doesn't seem to have worked out how to replicate its nickel strategy in the tin market yet. But the threat to the rest of the world's tin supply is not going away.Neither is that posed by the Wa State, the semi-autonomous region of Myanmar that controls the Man Maw mine, one of the world's largest tin resources.All mining was suspended in August last year to allow for an audit of reserves. The suspension has been partly lifted, opening a new tab for some smaller operators, although they will pay more in export tax, according to the International Tin Association (ITA).However, operations at Man Maw have yet to resume. The ITA suggests the delay may reflect a policy re-think around the need to replenish the Wa government's strategic stockpile.Amid the continuing uncertainty, one thing is clear. The ruling United Wa State Army aims to exert tighter control over the jewel in its mineral crown.Myanmar and Indonesia are combining to squeeze global tin supply driven by the same resource nationalist impulse.SURPLUS AND STOCKS REBUILDThe tin market can likely absorb the double hit over the short term.The ITA estimates that global supply exceeded usage by 9,700 tons last year, attesting to the slump in demand from the electronics sector, where tin is used for circuit-board soldering.Stocks registered with the LME and the Shanghai Futures Exchange (ShFE) more than doubled to 15,400 tons throughout 2023.Those on the LME have recently been sliding as the halt to Indonesian shipments drags on. Headline inventory has fallen by 31% to 5,300 tons since the start of January.Shanghai stocks, by contrast, have continued growing over the Chinese New Year holiday period and at a current 11,072 tons, the highest they have been since ShFE launched its tin contract in 2015.The flow of raw material from the Man Maw mine in Myanmar to Chinese smelters has dropped but not as much as feared after the authorities allowed the processing of surface stocks. Many Chinese operators also built up stocks of concentrate ahead of the August suspension.China's production of refined tin grew by 1.8% year-on-year to 169,000 tons, according to local data provider Shanghai Metal Market.Tin users are lucky that the current supply disruption has come after a year of low demand and restocking of both raw material and metal.FUTURE FRAGILITYThe question worrying the tin market is how long it will be before normal supply service is resumed in Myanmar and Indonesia.LME three-month tin hit a seven-month high of $27,810 per ton on Friday and, currently trading around $27,460 per ton, is now up by 9.0% at the start of the year.Even assuming a speedy resumption of Indonesian exports and mining in Myanmar, tin supply over the next few months looks challenging.The longer-term threat is future supply disruption as resource nationalism drives both governments further down the road of export controls.Tin's use as a circuit-board solder makes it a critical mineral for the current generation of electronics and the coming Internet of Things.Yet it is one with an incredibly fragile supply chain, beholden to the politics of Indonesia and the United Wa State Army.This year's supply squeeze maybe just a taster of things to come for tin.Image source: REUTERS / Claro Cortes/File PhotoSource: https://www.reuters.com/markets/commodities/tin-supply-trapped-resource-nationalism-squeeze-2024-03-12/  
News
18 Mar 2024, 15:58 PM

Petrindo Jaya Kreasi (CUAN) Partners with Cokal Limited

Kontan / Doc. CUAN
1968 Views
PT Petrindo Jaya Kreasi Tbk (CUAN) signed a Memorandum of Understanding (MoU) with Cokal Limited, a coal mining company listed on ASX Australia.Director of Petrindo Jaya Kreasi Daniel Laurente said this agreement aims to develop infrastructure and optimize coal transportation in Murung Raya Regency, Central Kalimantan."The initiative provides acceleration to start and improve the coal mining assets owned by Petrinco and Cokal," he explained in a stock exchange filing on Wednesday (6/3).Daniel said this agreement strengthens Petrindo's supply chain integration and the operational efficiency of Petrindo Jaya Kreasi's subsidiary, PT Daya Bumindo Karunia, and Cokal's subsidiary, PT Bumi Barito Mineral."Access to infrastructure is the key to CUAN's operations and significantly optimizes transportation efficiency in its operational areas," he said.Most recently, CUAN obtained a Term Loan and Revolving Syndication Loan worth IDR 3.5 trillion for working capital, financing and maintenance of assets, and completion of the acquisition of several mining companies.The loan was also used to acquire PT Multi Tambangjaya Utama, PT Borneo Bangun Banua Bestari, and PT Borneo Bangun Banua. Multi Tambangjaya Utama is a PT Indika Energy Tbk (INDY) subsidiary.CUAN plans to acquire 2.26 million Multi Tambangjaya Utama shares from PT Indika Indonesia Resources (IIR) and Indika Capital Investments Pte Ltd (ICI) with a transaction value of USD 203 million.Not only that, the companies will soon finalize the transfer of marketing rights owned by ICI with a value of USD 15 million. Thus, the overall acquisition value reached USD 218 million.Image source: Kontan / Doc. CUANSource: https://investasi.kontan.co.id/news/petrindo-jaya-kreasi-cuan-berkongsi-dengan-cokal-limited 
News
13 Mar 2024, 14:48 PM

Australia-ASEAN Partnership: Nickel Industries Limited Become A Shining Example

Nickel Industries Limited
2050 Views
In an era marked by globalization and interconnected economies, forging strong partnerships across borders is key to fostering growth and development. Nickel Industries Limited stands as a shining example of successful collaboration between Australia and the ASEAN region, embodying the spirit of mutual benefit and shared prosperity. Nickel Industries Limited is an Australian public company that owns a portfolio of mining and low-cost downstream nickel processing assets in Indonesia, which is a member of the Association of Southeast Asian Nations (ASEAN). The Company has a long history in Indonesia, with controlling interests in the world-class Hengjaya Mine, as well as four rotary kiln electric furnace (RKEF) projects that produce nickel matte for the electric vehicle (EV) supply chain and nickel pig iron (NPI) for the stainless-steel industry. Having established itself as a globally significant producer of NPI, the Company is now rapidly transitioning its production to focus on the EV battery supply chain – recently, the Company has converted some of its existing production from NPI to nickel matte, and also acquired a 10% interest in the Huayou Nickel Cobalt (HNC) HPAL project, adding mixed hydroxide precipitate (MHP) to its product portfolio. Nickel Industries is now embarking on its next transformative step, announcing a positive final investment decision to invest in Excelsior Nickel Cobalt (ENC), a next-generation HPAL project capable of producing MHP, nickel sulfate, and nickel cathode. ENC will produce approximately 72,000 tonnes of nickel metal per annum, diversifying the Company’s production and reducing the Company’s carbon emissions profile – reflecting the strong commitment to sustainable operations. Nickel Industries’ operations demonstrate how Australia and ASEAN can cooperate to achieve mutual benefits in the areas of trade, investment, and sustainable development. In the space of the 2024 ASEAN-Australia Special Summit, which is held to commemorate the 50th Anniversary of ASEAN-Australia Dialogue Relations in Melbourne this week, Sustainability Manager Muchtazar commented:  “It’s a privilege and honor to represent Australia’s largest nickel producer at this high-level forum, which showcased the acknowledgment of Nickel Industries’ positive impacts on the growth of the Australia-ASEAN region in the past years.” "In terms of Climate and Clean Energy Transition, we are proudly taking a leadership role in reducing our carbon footprint and supporting the sustainability of the environments and communities in which we operate. As a Company, we have committed to a 50% reduction in carbon intensity by 2035 and net zero emissions by 2050, which was first announced at the 2023 United Nations Climate Change Conference (COP28) in Dubai last year," Muchtazar said. Nickel Industries stands as a testament to the strength of Australia-ASEAN cooperation, embodying the principles of partnership, innovation, and sustainable development. Through its strategic vision and commitment to shared values, the Company paves the way for a brighter future of collaboration and prosperity in the Asia-Pacific region and beyond. Nickel Industries’ operation reflects the common vision and interests of Australia and ASEAN, and its commitment to regional stability, prosperity, and sustainability. The Company’s achievements also inspire more opportunities for collaboration and innovation between Australia and ASEAN in the future. Image source: Nickel Industries LimitedSource: https://www.medcom.id/english/world/GbmP9D3N-australia-asean-partnership-nickel-industries-limited-become-a-shining-example 
News
13 Mar 2024, 14:45 PM

Transcoal Pacific (TCPI) Secured IDR 15 Billion Barging Services Contract

KONTAN / Doc. TCPI
2049 Views
Shipping company PT Transcoal Pacific Tbk (TCPI) signed an agreement with one of the largest coal mining companies in East Kalimantan (Kaltim) with an estimated contract value of IDR 15 billion on March 4, 2024.Transcoal Pacific Director Bintang Septo Drestanto said the agreement covers the provision of labor, materials, equipment, supplies, and technical support for the provision of floating barges for temporary storage of fuel oil (BBM) at LTT Bengalon Port.  "The contract period is three years with an estimated contract value of IDR 15 billion," said Bintang in an information disclosure on Wednesday (6/3).Bintang said the signing of the agreement to provide floating barge services will have an impact on TCPI's operational activities, legal, financial condition, and business continuity."It has a positive impact on the company's operational activities because the company has the trust of customers to provide floating barge services for temporary storage of fuel at the customer's Bengalon LTT Port," he added.As for fulfilling this agreement, the company is obliged to provide floating barges for temporary storage of fuel at the Bengaon location or Lubuk Tutung special terminal, including equipment, labor, spare parts, and consumables following the provisions stipulated in the contract."Business continuity is well maintained and guaranteed," he added.Image source: KONTAN / Doc. TCPISource: https://industri.kontan.co.id/news/transcoal-pacific-tcpi-raih-kontrak-jasa-tongkang-rp-15-miliar 

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