PT Hengjaya Mineralindo has won a Proper green rating for 2021-2022 in Central Sulawesi Province (Central Sulawesi). Proper (Company Performance Rating Rating Program in Environmental Management) is a form of government policy to improve the company's environmental management performance in accordance with what has been stipulated in laws and regulations. The Proper award is given to companies that demonstrate compliance with environmental management laws and regulations.This award night event took place at Hotel Santika, Jalan Moh Hatta No 18, Lolu Utara Village, East Palu District, Palu City, Monday (27/2/2023) evening. The 2021-2022 Proper was attended by 31 companies, including 22 companies in the energy and oil and gas mining sector, and 9 agro-industry companies. The proper award is given in several categories Gold, Green, Blue and Red. The Head of Mining Engineering (KTT) PT Hengjaya Mineralindo M Ilham said, he was very grateful to be the only nickel mining company that had won an award in the green category. "Hengjaya Mineralindo is very grateful for being the only nickel mining company to receive the green category," said M Ilham. M Ilham added, by obtaining green proper, the Hengjaya Mineralindo company is increasingly motivated in managing the environment in a sustainable manner. The Hengjaya Mineralindo Company strives to increase its achievements to a gold rating.Source: https://palu.tribunnews.com/2023/02/28/pt-hengjaya-mineralindo-jadi-satu-satunya-perusahaan-nikel-yang-raih-proper-hijau-dari-dlh-sulteng

PT Amman Mineral Nusa Tenggara (AMNT) targets copper concentrate production to reach 1.1 million wet metric tons (wmt) in the 2023 Work Plan and Budget (RKAB). AMNT Vice President Corporate Communications Kartika Octaviana said that the production plan had received approval from the Ministry of Energy and Mineral Resources (ESDM). This year's production plan is up 10.97 percent compared to last year's position which was set at 994,209 wmt. Meanwhile, the government signed the agreement to increase production in line with the decision to ban metal mineral exports in June 2023."The approved 2023 concentrate production is 1,103,355 wmt, there is an increase in production which is in accordance with the mine schedule," said Kartika when contacted, Monday (27/3/2023). Meanwhile, the progress of the construction of AMNT's smelter until January 2023 has reached 51.63 percent. The project has absorbed a cost of more than US$507.53 million from a total planned investment of US$982.99 million.AMNT President Director Rachmat Makkasau said the development of the smelter construction proved the company's commitment to completing one of the current national strategic projects (PSN) in the mineral mining sector. This calculation is in accordance with the realization of budget absorption for smelter construction, which includes physical construction and also the purchase of equipment and machinery for operations. "The company continues to work with our business partners to complete the smelter project as soon as possible. Fabrication equipment has started to arrive in early March and equipment installation has begun," said Rachmat. He estimates that the commissioning of the smelter will be carried out in July 2024 and operate at 60 percent capacity in December 2024. Intensive communication with the government to find the best solution to deal with various challenges over the past 3 years has also been continuously carried out by the company. As previously reported, AMNT and PT Macmahon Indonesia have agreed to work together to work on the Batu Hijau mine Phase 8. Seeing the success of the Batu Hijau mining contract and the bright prospects for copper and gold prices, AMNT decided to expand the Batu Hijau mine by opening a pit known as Phase 8. The opening of the Phase 8 pit is expected to extend the mine period to June 2028 in accordance with the mine life stipulated in the AMNT and Macmahon Indonesia contracts. Macmahon Managing Director and CEO Michael Finnegan said, with the new cooperation agreement, Macmahon Indonesia will acquire certain heavy equipment from AMNT with a value of US$35 million or around Rp.525 billion (estimated exchange rate of Rp.15,000 per US dollar), to carry out pit work. Phase 8 and as collateral for third party investors. From this transaction, Macmahon Indonesia will receive a monthly return on investment (ROI) on the cost of capital of 15 percent. In addition, Macmahon Indonesia will also have the opportunity to obtain KPI fees of up to US$5.1 million per six months based on overall project performance. "Furthermore, the continuation of this transaction will require approval from Macmahon shareholders considering AMNT is a substantial shareholder of Macmahon Indonesia," said Finnegan in an official statement, Monday (20/2/2023). For 2023, Macmahon targets revenues to reach around US$1.85 billion - US$1.95 billion, from the previous US$1.6 billion - US$1.7 billion from the Batu Hijau Phase 7 contract cooperation. Meanwhile, the profit before interest target, taxes, and amortization (EBITA) remained in the range of US$105 million - US$125 million. “We look forward to continuing our relationship with AMNT at the highly productive Batu Hijau operation and with a partner who values technology and ESG,” he added. The Batu Hijau mine started production and operations in 2000. Until 2020, Batu Hijau has produced around 8.78 billion pounds of copper and 8.7 million ounces of gold. For information, PT Medco Energi Internasional Tbk. (MEDC) through PT Amman Mineral Nusa Tenggara controlled a 44.3 percent stake in the Australian company Macmahon in 2017. In Indonesia, Macmahon is also the contractor for the Martabe gold mine in North Sumatra with a contract duration of 5 years from January 2016 from PT Agincourt Resources. Meanwhile in Australia, Macmahon became a contractor for a number of mines, including the Tropicana copper and gold mine, the Telfer gold mine and the St. Ives in Western Australia. In addition, Macmahon is also a contractor for the Byerwen coal mine in the Bowen Basin, Queensland Australia.Source: https://ekonomi.bisnis.com/read/20230327/44/1641076/amman-mineral-bidik-produksi-konsentrat-tembaga-11-juta-wmt-tahun-ini

PT United Tractors Tbk (UNTR) recorded an increase in sales of Komatsu heavy equipment during the first two months of 2023. UNTR sold 1,232 units of Komatsu heavy equipment in that period. This number rose 16.4% (YoY) from sales of heavy equipment in the same period the previous year of 1,058 units. Launching the monthly report, Saturday (25/3), the majority of Komatsu's sales were channeled to the mining sector, which reached 63%, followed by sales to the construction and forestry sectors each with 15%. Then, sales to the agribusiness sector amounted to 7%. Meanwhile, Komatsu's market share as of February 2023 is 34%.However, sales of Komatsu heavy equipment experienced a decline in the February 2023 period. Last month's sales were 546 units, a decrease of 20.40% from sales in the January 2023 period which reached 686 units. Just so you know, management projects that Komatsu sales this year will equal or be flat with the realization in 2022, which is in the range of 5,700 units. "This is based on the assumption of coal price movements. Currently it is still appropriate,” said United Tractors Corporate Secretary Sara K. Loebis.Source: https://industri.kontan.co.id/news/per-februari-2023-united-tractors-berhasil-jual-alat-berat-komatsu-1232-unit-1

Arsari Tambang's (AT's) tin metal sales reached 5,342 tons throughout the year 2022, the company's Chief Executive Officer (CEO) Aryo Djojohadikusumo stated. "PT Mitra Stania Bemban is preparing to complete the required documents for the preparation of the RKAB (Work Plan and Budget)," Aryo noted in a statement on Wednesday.AT oversees several tin mining companies: PT Mitra Stania Prima (MSP), PT Mitra Stania Kemingking (MSK), PT Mitra Stania Bemban (MSB), and PT AEGA Prima. Aryo elaborated that PT MSP's tin production last year had reached 3,359 tons, while PT MSK clocked a total production of 1,023 tons, and PT Aega Prima, 960 tons. Aryo remarked that this year, the company is optimistic about tin production increasing again despite the threat of a global economic recession."Other subsidiaries are also continuing exploration programs to increase resources and reserves for the continuation of Arsari Tambang's business to provide foreign exchange to the country," he stated. Indonesia has long been known as one of the world's main tin producers. Most of the mineral resource reserves are located in Bangka Belitung Islands that can be called as the largest tin-producing area in Indonesia. The Bangkinang area, Riau Province, is the other major producer. Moreover, a village in the Riau Islands is the largest tin producer in Indonesia. The village is called Dabo that is located on Singkep Island.The region is also an area that holds extensive tin reserves. Citing the Fitch Solution data, Indonesia is listed as the second-largest tin mining producer in the world after China. In 2021, Indonesia's tin commodity production amounted to 83 thousand tons. This figure was equivalent to 26 percent of the world's total mining production. Meanwhile, according to United States Geological Survey (USGS) data, Indonesia's tin reserves were estimated to reach 800 thousand tons in 2021. This figure also makes Indonesia the second-largest owner of tin reserves in the world after China. Source: https://en.antaranews.com/news/276327/arsari-tambangs-tin-metal-sales-reached-5342-tons-in-2022

Far East Gold has identified visible gold and electrum at the Rek Rinti prospect during its Phase 2 resource delineation drill program at the Woyla copper-gold project in Indonesia.The company also found coarse visible gold within surface rock chip samples taken from artisanal mining pits at the Aloe Eumpeuk prospect.Far East Gold (ASX:FEG) says the find at Rek Rinti in hole AGM007 confirms the lateral extension of high-grade mineralisation within the Agam Zone.Notably, mineralisation in this zone is consistent with the bonanza grade gold and silver mineralisation observed within ginguro bands in massive quartz intersected in the Phase 1 scout drillhole RRD004 just 50m to northeast of AGM007 along strike in February.Drilling at Aloe Eumpeuk in Q1The company is now expediting preparations for the maiden scout drilling program at the Aloe Eumpeuk prospect – and expects the first ever drilling of this area to commence before the end of March 2023.Previous exploration of the prospect by Barrick in 1997 identified two high-grade veins extending for approximately 300m along strike, and previous sampling by FEG confirmed the occurrence of high-grade gold and silver within massive quartz at surface.Assays of up to 63g/t gold and 1,179g/t silver were obtained from grab samples showing ginguro-bands.As part of the Woyla Phase 2 scout drilling program, FEG is preparing to undertake an initial six-hole, 650m scout drill plan at Aloe Eumpeuk to test these veins that have delivered high grade gold and silver samples at surface.This article was developed in collaboration with Far East Gold, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.Source: https://stockhead.com.au/resources/far-east-finds-visible-gold-at-woyla-project-in-indonesia/

PT PP Presisi Tbk (PPRE) plans to issue bonds with an target of around IDR 750 billion which will be used as capital expenditure and working capital loans (KMK). PP Presisi's Director of Finance, Risk Management and Legal, M Arif Iswahyudi projects, from the continuous public offering (PUB) I of phase II bonds, the company will be able to raise funds of approximately IDR 750 billion. "As much as 70% will be allocated as capex and the remaining 30% as KMK," said Arif in Jakarta, Monday (20/3/2023). Arif further explained, the bond scheme is medium to long term financing in accordance with the term of project that the company will get in the mining services sector.In addition, the scheme also adjusts to the financing period for the equipment that the company will purchase for use in the mining services project. This is because the company is still continuing the mining services project it has previously acquired. "We are still in the process of repeating orders for new contracts in mining service projects that we previously obtained on an ongoing basis," Arif added. Furthermore, this year the company is also working on other civil projects such as the construction of toll roads and other supporting infrastructure projects. Through the corporate action in the form of releasing the bonds, Arif hopes to boost PP Presisi's performance by 20% to 25%. Moreover, this PTPP subsidiary is focusing on strengthening its position as the main contractor in both the mining and construction services sectors. PP Presisi is also targeting new contracts this year to increase by 20% -30% or the equivalent of Rp. 6 trillion to Rp. 7 trillion, with the acquisition of new contracts in mining services increasing by more than 50%. The company's performance growth target this year is quite reasonable when it reflects on PP Presisi's positive performance throughout 2022. The proof is that the state-owned construction and mining services company managed to record a net profit that skyrocketed by 23.7% to IDR 182 billion compared to net profit at the end of 2021 of IDR 147 billion. The growth in consolidated net profit is in parallel with the increase in the company's revenue by 29.5% from Rp 2.8 trillion previously to Rp 3.6 trillion.As for the structure, the company's revenue growth in 2022 is supported by revenue growth in the mining services segment to 34% from the previous 9% in 2022. This growth is due, among other things, to contributions from sustainable income from the Hauling Road Weda Bay project and the Hengjaya Mineralindo project.Source: https://www.beritasatu.com/ekonomi/1033646/butuh-modal-kerja-pp-presisi-terbitkan-obligasi-rp-750-m

Tianshan Aluminum Group, the metal’s second-largest producer by capacity in China, will invest nearly USD1.6 billion to build an aluminum oxide plant in Indonesia with an annual capacity of 2 million tons, boosting its raw material supply.Tianshan Aluminum will build the new plant in the Riau Islands, Indonesia, the Shihezi-based firm announced late on March 17, adding that it will also set up a wharf and raw material yard as well as building roads inside and around the plant. The first stage is designed to produce 1 million tons of aluminum oxide a year and has investment of USD952 million, the firm said, without revealing a construction schedule. Indonesia is rich in bauxite and coal and has low labor costs, so building the plant there can improve Tianshan Aluminum’s supply of raw materials, it noted.Tianshan Aluminum has been quickly raising its annual aluminum oxide capacity in recent years, its annual report showed. The firm produced over 1.5 million tons last year, a 70 percent invrease, and aims to produce 2.5 million tons this year. In contrast, its electrolytic aluminum output has stayed around 1.15 million tons these years. On Feb. 23, Tianshan Aluminum said it would buy the mining rights to three geographically adjacent bauxite mines in Kalimantan, Indonesia for nearly USD30.3 million. One is believed to have reserves of around 68 million tons.The firm’s operating revenue rose 15 percent to a record CNY33 billion (USD4.8 billion) last year from 2021. But net profit slid 31 percent to CNY2.7 billion, per its annual financial report released on March 17. The announcement of the new plant in Indonesia failed to boost the firm’s stock price [SHE: 002532]. Its shares closed down 3.3 percent at CNY7.54 (USD1.09) today.Source: https://www.yicaiglobal.com/news/china-tianshan-aluminum-to-build-new-plant-in-indonesia-for-usd16-billion

The Ministry of Energy and Mineral Resources (ESDM) explained the main reasons for a petrochemical company from the United States (US), namely Air Products and Chemicals Inc. who left from coal downstream projects in Indonesia. The proud project of Indonesian President Joko Widodo (Jokowi) which is included in the National Strategic Project (PSN) is actually needed to replace the role of Liquefied Petroleum Gas (LPG), which so far is still mostly imported. As is known, Air Products built a consortium together with two Indonesian state-owned companies, namely PT Bukit Asam Tbk (PTBA) and also PT Pertamina (Persero). Acting Director General of Mineral and Coal at the Ministry of Energy and Mineral Resources, Idris Sihite, explained that the reason for Air Products leaving the consortium for downstream coal to Dimethyl Ether (DME) in Indonesia was because the company would focus on developing blue hydrogen or blue hydrogen. "Yesterday they (Air Products) asked to resign because of nothing, they prefer, from the letter yes, in another direction, blue hydrogen," Idris said when met at the Ministry of Energy and Mineral Resources Building, quoted Monday (16/2/2023).Furthermore, Idris explained that Air Products chose to focus on the development of blue hydrogen through his statement. Idris said the United States government gave greater incentives to companies to process blue hydrogen. "Because the government gives them greater incentives," he added. Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif opened his voice regarding Air Products' withdrawal from the coal downstream project in Indonesia. According to Arifin, Air Products' decision to no longer continue the coal downstream cooperation project in Indonesia was due to several considerations. One of them is that business development in America is more attractive than in Indonesia. "Yesterday Air Products because he felt that in America it was more interesting for him to do business there," said Arifin when met at the Ministry of Energy and Mineral Resources Building, Friday (17/3/2023).In addition, the United States government also has an attractive offer in the form of subsidies. Primarily for the development of new and renewable energy (EBT) projects. "In America, with subsidies for EBT, there are more attractive projects there for hydrogen because America is pushing for its use," he said. As is well known, Air Products chose to leave two of RI's coal gasification projects. The two projects are the DME project with PTBA and Pertamina, and also the coal-to-ethanol gasification project with Bakrie Group companies, namely PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia. In addition, PTBA as one of the partners has prepared a special economic zone covering an area of 585 hectares and coal reserves for 20 years with a utilization of 6 million tons of coal per year. Previously, the Coordinating Minister for Maritime Affairs and Investment (Menko Marves) Luhut Binsar Pandjaitan responded to Air Products' coal downstream project.Luhut said, currently the government is holding important discussions regarding the continuation of the Indonesian coal downstream program. "I think there are still some technical (discussions) that need to be completed. We'll see later (regarding the replacement)," Luhut said when met in Jakarta, Tuesday (14/3/2023). Meanwhile, the Chairman of the Indonesian Mining & Energy Forum (IMEF) Singgih Widagdo admitted that he was quite surprised by Air Products' decision to leave the coal downstream cooperation project. Bearing in mind, the President himself has received visits from the Chairman and CEO of Air Products some time ago. "Obviously this affects the map set by the government for LPG substitution in the future. This has been included by the Minister as a national green energy," Singgih said at the CNBC Indonesia Closing Bell event, quoted on Thursday (16/3/2023).Therefore, Singgih assesses that if Air Products does withdraw, then the government must prepare the next step. How to ensure that the DME project which is predicted to be a substitute for LPG gas can run again. According to Singgih, the coal downstream project basically requires a sizable investment. Therefore, the government is quite fair that this project is assigned to large companies holding Coal Mining Concession Work Agreements (PKP2B) (PKP2B) which have changed to Special Mining Business Permits (IUPK). "Initially, the government stipulated that a 0% royalty was set for DME volume and then a special price. However, is this enough, this is what is interesting because with the existing conditions, especially whether the DME cost meets imported LPG, this is interesting. In my opinion, we are not limited to seeing how aspects of coal royalty or price. We view this as a new project for the chemical industry, so fiscal and non-fiscal must be placed there," he saidSource: https://www.cnbcindonesia.com/news/20230320092040-4-423071/isi-surat-terkuak-ini-alasan-as-cabut-di-proyek-dme-jokowi

State-run mining industry holding MIND ID recently announced on the weekend that it had posted Rp 22 trillion or about $1.43 billion in net profit in 2022. This marks a huge jump from the group’s net profit in the previous year which totaled Rp 14.33 trillion. MIND ID encompasses state-run mining firms Bukit Asam (PTBA), Timah (TINS), Aneka Tambang (ANTM), Vale Indonesia (INCO), and Freeport Indonesia. The group’s revenue skyrocketed from Rp 93.75 trillion in 2021 to Rp 120 trillion last year.  In 2023, MIND ID is aiming for a Rp 30 trillion net profit.“President Joko Widodo and State-Owned Enterprise Minister Erick Thohir have assigned us to make a downstream industry roadmap, including one on the electric vehicle industry. That is why we are refocusing our capital expenditure in that sector. We had a bottom line of Rp 22 trillion [net profit] last year,” MIND ID corporate secretary Heri Yusuf said in a statement. MIND ID has designed a roadmap for the development of homegrown battery electric vehicles. In 2022-2023, the group will focus on establishing a joint venture with battery giants China’s CATL and South Korea’s LG Energy Solution. In 2023-2024, the group via the Indonesia Battery Corporation (IBC) will start producing its first batteries for two-wheelers. This is the reason why the IBC acquired the electric motorbike manufacturer Gesits. Ferdy Hasiman, a researcher at Alpha Research Database, said MIND ID had been doing well over the past years.“The [members] mesh quite well. With a state-owned mining holding, we are optimistic. Hopefully, we can rely on our state-owned mining firms to give our state revenue a boost, and become a pioneer in the country’s mining industry,” Ferdy said over the weekend. According to Ferdy, MIND ID should also play a more active role in helping Indonesia reach a net zero emission. Mining commodities are key to the transition to clean energy. For instance, nickel is a mainstay for EV battery production. Coal is also pivotal for the production of dimethyl ether (DME) which is an alternative to liquefied petroleum gas (LPG). “MIND ID must get ready to run the energy transition program at President Jokowi’s behest. Because the holding member companies can dominate the energy transition market. Performance-wise, they are already on track,” Ferdy said while adding that he had high hopes for MIND ID’s performance this year.Source: https://jakartaglobe.id/business/mind-id-posts-rp-22-trillion-net-profit-in-2022

After conducting an initial public offering (IPO), PT Trimegah Bangun Persada Tbk (NCKL) is preparing to double its nickel production.NCKL Director Suparsin Darmo Liwan said that NCKL's nickel production will increase this year, in line with the increase in production capacity. In 2022, the output capacity of processing using the Rotary Kiln Electric Furnace (RKEF) technology is 25,000 metric tons of nickel. This year, production from RKEF is targeted to quadruple to 100,000 metric tons Meanwhile, last year's production of Mixed Hydroxide Precipitate (MHP) was at 40,000 metric tons. MHP production is projected to increase to 60,000 metric tonnes from April 2023, and is expected to increase by another 60,000 tonnes next year.The increase in NCKL production will have an impact on increasing sales this year. "At least there is a two-fold increase from 2022. However, the projection again depends on nickel prices in the market, because prices are very volatile," said Suparsin in a public expose held Friday (17/3). Taking a peek at financial performance, NCKL's revenue from contracts with customers reached IDR 9.04 trillion from January to November 2022. This number increased by 17.32% compared to the same period the previous year. NCKL also recorded other income of IDR 231.30 billion, an increase of 255.82% compared to the same period the previous year of IDR 65 billion.NCKL succeeded in reducing selling, general and administrative expenses by 9.05% from IDR 873.45 billion to IDR 794.43 billion. Thus, NCKL's profit for the period shot up 207.95% from IDR 1.39 trillion as of November 2021 to IDR 4.30 trillion as of 30 November 2022. Earnings per share also rose from IDR 23.16 per share to IDR 78.63.Source: https://investasi.kontan.co.id/news/siap-ipo-trimegah-bangun-persada-nckl-bakal-gandakan-produksi-dan-penjualan