Baru Gold Corp. (TSX-V:BARU) said it had completed the application process to request a new upgrade to Production Operation Status from the Ministry of Energy and Mineral Resources of the Republic of Indonesia (MEMR).This upgrade will replace the company's current Production Operation Activity Status, the company noted in a statement.Indonesia-focused Baru Gold told investors that the cancellation of the current Activity Stage Production Operation Approval is an administrative step and does not affect the company's Contract of Work (CoW) or permits.The new request reduces the operational area from 42,000 ha to 25,000 ha, excluding environmentally sensitive and non-gold-bearing areas mentioned in a previous lawsuit."I am very pleased with the continued support and cooperation from the MEMR. We are now in the final stages of approval for our new Stage of Activity upgrade to Production Operation Status,” CEO Terry Filbert said in a statement.Baru Gold is working to move from the phase of preparing and exploring its mining site to the phase where it can start extracting and processing minerals or resources on a larger scale. This status change often involves meeting specific regulatory, environmental, and legal requirements set by the government.“I can understand the alarm that a shareholder might experience when they discover that our current Decree from the Minister has been canceled. However, I would urge shareholders to view this action as a necessary final step in obtaining a new Stage of Activity Upgrade to Production Operation Status,” Filbert added.The CEO told shareholders that Baru had been working hard on a new application for months and was “fully aware” of the cancellation.“This cancellation is all part of the plan previously agreed to by MEMR. We have always been legally able to operate but I believe this is a better long-term solution.”The process began on July 14, 2023, and concluded on September 11, 2023.The Sangihe gold project, located off the northern coast of Sulawesi, has an existing mineral resource. Baru plans to proceed to production without first establishing mineral reserves supported by a feasibility study.Image source: Angela HarmantasSource: www.proactiveinvestors.com/Baru Gold Finalizes New Application With Indonesia For Sangihe Project

PT Petrosea Tbk ( PTRO ) signed a Memorandum of Understanding (MoU) with PT Hyundai Construction Equipment Asia, a subsidiary of HD Hyundai Construction Equipment Co. Ltd.The signing of the MoU was carried out by Romi Novan Indrawan, President Director of Petrosea and Ruddy Santoso, Chief Financial Officer of Petrosea together with Choi Cheol Gon, CEO of HD Hyundai Construction Equipment Co. Ltd and Chae Heebum, President Director of PT Hyundai Construction Equipment Asia.Petrosea and Hyundai Construction Equipment Asia plan to build a strategic partnership in providing innovative solutions for the mining, construction and heavy equipment sectors in Indonesia, especially in several business aspects including re-manufacturing partnerships, strategic machinery distributor partners, human resource development partners, as well as potential other business collaborations.Petrosea is a sustainable resources company and multi-disciplinary company in the mining, EPC, and oil and gas services sector which has various capabilities, including carrying out maintenance and refurbishment  of heavy  equipment to support the needs of all Company projects through the Petrosea Rebuild Center (PRC) located in Balikpapan, East Kalimantan.HD Hyundai has established its position as one of the most reliable manufacturers and suppliers of heavy equipment in the world, including in Indonesia and maintains its position in the market as one of the leading providers of heavy equipment solutions."We really believe that this MoU will be the start of a strategic partnership that will have a positive impact on the growth of both companies in the future," said Romi Novan Indrawan, President Director of Petrosea in a press release, Thursday (7/9).Meanwhile Choi Cheol Gon, CEO of HD Hyundai Construction Equipment Co. Ltd said, after this MoU procession, HD Hyundai hopes to continue to increase cooperation and collaboration with Petrosea in other wider distribution sectors.Going forward, Petrosea and Hyundai Construction Equipment Asia will continue their focus on prioritizing social factors and providing sustainable resources and energy as part of our commitment to prioritizing ESG as a continuation of both companies' sustainability strategies.Image source: PT Petrosea Tbk PTROSource: www.industri.kontan.co.id/Petrosea PTRO dan Hyundai Construction Equipment Asia Jalin Kemitraan Strategis

A nickel-based processing and refining site or smelter will soon be built in Balikpapan City and Kutai Kartanegara Regency, East Kalimantan Province. The investment value of the project reaches IDR 36.5 trillion.Deputy Governor of East Kalimantan Province Hadi Mulyadi explained that the first nickel smelter factory was in Balikpapan City, precisely in the Kariangau area with an investment of IDR 6.5 trillion by PT Mitra Murni Perkasa (MMP).Furthermore, the second smelter factory is located in Penjangan, Sanga Sanga District, Kutai Kartanegara with an investment of IDR 30 trillion by PT Kalimantan Ferro Industry (KFI)."We believe that the existence of this smelter factory will be able to improve the welfare of the people of East Kalimantan and even Indonesia. From East Kalimantan for Indonesia," said Hadi as quoted by Antara, Tuesday (12/9).For the Matte Nickel Smelter factory in West Balikpapan, construction has begun, marked by the laying of the first stone by the Minister of Industry, Agus Gumiwang Kartasasmita. The plan is that this factory will process battery raw materials.Meanwhile, for the smelter factory in Kukar, construction will be inaugurated in the near future."We are sure that the community and government will fully support the interests and progress of East Kalimantan and Indonesia," he said.Minister of Industry Agus Gumiwang Kartasasmita said that the construction of the Matte Nickel Smelter is supporting the battery industry in Indonesia."This MMP investment is 100% domestic capital investment. With the hope of realizing a downstream industry that is useful and supports the development of the national battery industry," he explained."The target is that by the end of 2024 the factory construction will be completed, operations will continue, as well as the development of derivatives and national battery production," he explained.Image source: ANTARA FOTO/JOJON/SPT.Source:  www.katadata.co.id/Nickel Smelter Investment in East Kalimantan Reaches IDR 36.5 Trillion

PT Mineral Industri Indonesia (Persero) or MIND ID has collaborated with an African company, namely the State Mining Corporation (Stamico) to manage tin.Stamico is a government-owned company under the Ministry of Minerals and Coal owned by the state of Tanzania.MIND ID Director of Portfolio and Business Development, Dilo Seno Widagdo said that this collaboration was carried out when his party was part of the Indonesian government's entourage on its visit to Africa."Mind ID participated in the visiting group to Africa, and collaborated with Stamico," said Dilo to Bisnis, Monday (4/9/2023)Dilo said that there were several memorandums of understanding (MoU) related to cooperation for several critical minerals. One of the priority critical minerals is Tin.Furthermore, Dilo said that currently the cooperation between the two companies is still in further discussion."Yesterday we signed the MOU in Tanzania, now we are continuing discussions," he said.MIND ID's collaboration with African companies was first revealed by the Coordinating Minister for Maritime Affairs and Investment (Menko Marves) Luhut Binsar Pandjaitan.Luhut said that during Indonesia's visit to Africa, this BUMN subholding collaborated in the mining sector."Then there is mining, MIND ID comes in. MIND ID comes in from the gold. "Then they also saw rare earth," said Luhut, quoted from his personal Instagram, Monday (4/9/2023).Image source: mind.idSource: www.ekonomi.bisnis.com/MIND ID Gandeng Perusahaan BUMN Tanzania Untuk Kelola Timah

PT Bukit Asam Tbk (PTBA) revealed that the company has supplied domestic coal needs or Domestic Market Obligation (DMO) reaching 10.3 million tons during Semester I-2023.PTBA Corporate Secretary Niko Chandra said that his party had supplied DMO coal up to 10.3 million tons as of June 2023."PTBA's DMO realization as of June 2023 is 10.3 million tons," Niko explained to CNBC Indonesia, Monday (4/9/2023).He said that this was the company's commitment to maintaining national energy security."We continue to be committed to maintaining national energy security," he added.As is known, one of PTBA's coal DMOs is supplied for the needs of the PLTU owned by PT PLN (Persero). Niko said that currently his party is still supplying coal to PLN in normal quantities.Although, currently PLTU Suralaya Units 1-4 in Banten which is managed by PLN's subsidiary, PT Indonesia Power, with a capacity of 4 x 400 Mega Watt (MW) is being shut down to reduce pollution in DKI Jakarta and its surroundings."The supply of coal from PT Bukit Asam Tbk (PTBA) to PT PLN (Persero) has so far been normal,""With the decommissioning of the Suralaya PLTU since August 28, up to now there has been no impact on PTBA," he explained.For information, PTBA's total coal production in Semester I 2023 reached 18.8 million tons, growing 18% compared to the same period in 2022 which amounted to 15.9 million tons.This increase in production led to an increase in coal sales volume by 19% to 17.4 million tons. In the first semester of 2023, the Company recorded export sales of 7.1 million tonnes, an increase of 37% compared to the same period the previous year. Meanwhile, the realization of Domestic Market Obligations (DMO) was recorded at 57%.Image source: PTBA/Bukitasam.co.idSource: www.cnbcindonesia.com/Semester I 2023 PTBA Jual 103 Juta TonBatu Bara Ke Domestik

Ministry of State-Owned Enterprises (BUMN), revealed that Indonesia is expected to start producing electric vehicle (EV) batteries in 2027.This was stated by the Deputy Minister of BUMN I, Kartiko Wirjoatmodjo (Tiko). He said that currently Indonesia has started processing nickel ore in the manufacturing sector to become one of the main materials in making EV batteries.In this way, Tiko said that Indonesia is expected to start producing EV batteries in 2027."We previously exported a lot of ore (nickel) and will now move into manufacturing exports. Hopefully in 2027 we will be able to produce batteries for domestic and for export as well," said Tiko to CNBC Indonesia in the BUMN Performance Report 2023 program, quoted Monday (4/9/2023).What is clear, said Tiko, is that Indonesia is currently working with the world's largest EV battery companies, namely CATL from China and LG from South Korea who are working with PT Aneka Tambang Tbk (ANTM)."We at MIND ID and Antam have collaborated with CATL and LG on how to build this battery ecosystem starting from upstream mining on the smelter side to the battery side," he explained.The government is also accelerating the process of cooperation between parties to make major changes in the transformation of minerals, especially into domestic EV battery products."We are pushing for this to be accelerated with CATL and this can be one of the big changes in mineral transformation," he said.On the other hand, the BUMN Mining Holding MIND ID previously stated that it would build an electric vehicle battery factory with a capacity of 15 Giga Watt (GW) in 2027. The project is predicted to require an investment of US$ 12 billion or Rp 183 trillion.Main Director of MIND ID Hendi Prio Santoso said that his party has now started to make several breakthroughs to boost the electric vehicle ecosystem in Indonesia. One of them is by collaborating with a company from China, CATL through PT Aneka Tambang (Antam) to develop electric vehicle batteries in Indonesia."The plan is 15 GW until 2027. (Investment needs) US$ 12 billion," he said when met after the SOE-Private Synergy Forum, in Jakarta, Monday (14/8/2023).However, Hendi said that the production of electric vehicle batteries in Indonesia must also be balanced in terms of domestic absorption. "But of course we must also participate in market development. This means that four-wheeled and two-wheeled vehicles must first be available in Indonesia," he added.Hendi acknowledged that there is still a lot of homework to be completed in encouraging the electric vehicle ecosystem in the country. The reason is, it's not just limited to batteries, there are many other components needed to make the use of electric vehicles successful in the country.He also admitted that he was wide open if other private companies in the country wanted to be involved in the project to accelerate the electric vehicle ecosystem in Indonesia. Considering that this project covers from upstream to downstream."We need partners, including private partners who can provide mining services and then exploration services," he said.Image source: Harita Group Pulau ObiSource:  www.cnbcindonesia.com/RI Preparing to Start EVDi Battery Production in 2027

PT Samindo Resources Tbk, a coal mining service provider company, recorded positive performance throughout the first half of 2023. The company managed to record a profit of USD 8.3 million (around IDR124.5 billion) or an increase of 5% compared to the same period last year, supported by on the non-operational side, namely the increase in interest income on time deposits and gains from the exchange rate."At the beginning of 2023, the rupiah exchange rate had exceeded the level of IDR 15,500. Entering the second quarter of 2023, the rupiah exchange rate was relatively more stable and was at the level of IDR 15,000," said the Corporate Secretary of PT Samindo Resources, to reporters in Jakarta.Zaki said that in general mining conditions in the January-June 2023 period were quite challenging, especially from weather conditions which were very difficult to predict. During this period, rainfall relatively increased compared to last year, especially in the first quarter of 2023.“Actually, the Company has faced quite an extreme rainy season last year. However, in the first quarter to the second quarter of 2023, rainfall continues to increase compared to last year. This condition is the main obstacle to operational activities in the first semester of 2023," he said.In semester II 2023 management has prepared various strategies to catch up in the first semester. Management focuses on increasing the productivity of overburden removal activities. "We believe that good planning and commitment to the best will drive the Company's performance in the second half of 2023," he said.This year Samindo targets overburden removal of 35.35 million bcm, an increase of 6.70% compared to 2022 of 33.23 million bcm. Coal production is projected to fall 32.35% to 6.44 million tonnes from 9.53 million tonnes. Meanwhile, coal hauling is projected at 24 million tonnes, down 11.44$ from 27.10 million tonnes and exploration drilling reaching 28.63 thousand meters, up 6.79% from 26.81% (year on year).The company's revenue is projected to decrease to 5.12% from USD141.5 million to USD 141.5 million and net profit after tax to USD12.72 million, down 9.8% compared to 2022 which was recorded at USD14 million.Samindo is an investment holding company with core competencies in providing coal mining services in terms of overburden removal and coal getting, coal hauling and geological mapping and drilling. As an investment holding company, the Company carries out these four production activities through four subsidiaries, namely PT SIMS Jaya Kaltim, PT Trasindo Murni Perkasa, PT Samindo Utama Kaltim and PT Mintec Abadi.Image source: IstimewaSource: www.investor.id/Semesteri Samindo Raih Laba Rp 1245 M

PT Freeport Indonesia (PTFI) has a gold production target of 1.8 million ounces by the end of 2023. PTFI President Director Tony Wenas said that currently the company has succeeded in producing 881 thousand ounces of gold.Tony also said that during HI 2023, he had succeeded in producing 735 million pounds of copper from the target of 1.6 billion pounds."We are performing quite well in terms of production. Copper 735 million pounds and gold 881 thousand ounces. 735 million pounds of the 1.6 billion pound plan, so roughly half, looks on target. "If gold is 881 thousand ounces from the target of 1.8 or 1.9 million ounces, this is still in line with our forecast or even more," explained Tony, quoted Friday (1/9/2023).Furthermore, Tony said, his party hopes that by the end of 2023, the sales target of gold of up to 1.8 million ounces and copper of up to 1.6 billion pounds can be achieved."It is hoped that by the full year we will be able to achieve sales of 1.6 billion pounds of copper and 1.8 million ounces of gold. Stay on target," he added.It is known that Freeport's gold production during January-March 2023 was recorded at 402 thousand ounces and gold sales were recorded at 266 thousand ounces. The average price of gold in the first quarter of 2023 is US$ 1,949 per ounce.Meanwhile, Freeport's copper production was recorded at 329 million pounds during the first quarter of 2023 and copper sales reached 198 million pounds. The average selling price for copper is around US$ 4.07 per pound."The level of ore processing from PTFI's underground mines averaged 164,800 metric tons of ore per day in the first quarter of 2023. PTFI targets the ore processing rate to exceed 200 thousand metric tons per day for the remainder of 2023," said Chairman & CEO of Freeport McMoran Richard C. Adkerson some time ago.Please note, since 2018, Indonesia has officially become the majority shareholder of PT Freeport Indonesia amounting to 51.2% through the MIND ID Mining BUMN Holding.The acquisition value to become Freeport's majority shareholder reached US$ 3.85 billion or the equivalent of IDR 55.8 trillion at that time. This acquisition marks an increase in Indonesian ownership in PTFI from only 9.36% to 51.23%.Image source: www.bicaraindonesia.netSource:  www.talkindonesia.net/Freeport Indonesia Targets 18 Million Tons of Gold Production in 2023

The Ministry of Energy and Mineral Resources (ESDM) stipulates the Work Plan and Expenditure Budget (RKAB) for mineral and coal mining companies to be valid for three years, from the current one year.This change is related to the Attorney's steps in naming a number of suspects, including the former Director General of Mineral and Coal at the Ministry of Energy and Mineral Resources with the initials RD who was implicated in a corruption case related to the RKAB determination.ESDM Minister Arifin Tasrif said the RKAB applies to mining companies entering the production phase. He emphasized that the implementation of this new provision will start next year. "Formerly the RKAB for production is now given 3 years every year," said Arifin in Jakarta, Thursday (31/08/2023).Arifin said, another arrangement is by applying information technology in the process of ratifying the RKAB. This effort is expected to accelerate the ratification of the RKAB and be transparent. He said the improvement of information technology continues to be accelerated because it is targeted to be implemented next year.It is said, the Ministry of Energy and Mineral Resources handles 6,000 RKAB submissions annually after the stipulation of Law no. 3 of 2020 concerning Mineral and Coal Mining. The regulation allows the authority of the local government to be transferred to the central government in ratifying the RKAB. Arifin said the ESDM Ministry had tried to speed up the process by simplifying the requirements. "We have simplified the 27 requirements into 5," he said.Separately, the Chairman of the Indonesian Mining & Energy Forum (IMEF) Singgih Widagdo said that the complexity of managing the mining industry is currently very hard to deal with as it is solely the responsibility of the Ministry of Energy and Mineral Resources. The presence of laws and policies in integrating and coordinating the interests of the Government, Corporations and the People, often creates a conflict of interest itself.The legal issues that must be faced by various officials in various echelons of the Ministry of Energy and Mineral Resources, make it clear and show that managing the mining industry in this political space becomes very complex. Accelerating and facilitating a policy to manage various interests in the mining industry can actually be a potential violation of the law for the officials concerned in the future."If this condition is neglected, without substantial improvement, IMEF estimates that there will be a slowdown in investment in the mining sector which will have an impact on reducing state revenues, employment and development equity, as well as economic growth in the next few years," he said.Singgih said the three-year RKAB was the right step. From the corporate side, investment and return can be calculated more measurably. This applies to mining companies and mining service companies. As for the government, it can optimize the management of national production in the context of export and domestic markets.However, Singgih reminded the government that in determining national production, they should first consider the map of potential commodity markets, especially coal. Taking into account market parameters, production capacity, geological and mining conditions as well as environmental aspects, it forms the basis for awarding the RKAB."Integration of the various parameters that are currently managed by the central government will actually be more optimal in managing natural resources in maintaining the balance of the export market, DMO needs," he said.Meanwhile, the Executive Director of the Indonesian Coal Mining Association (APBI) Hendra Sinadia said that his party had not officially proposed ratification of the RKAB every three years. APBI is waiting for the latest policy made by the Ministry of Energy and Mineral Resources. "We are waiting for further policies from the Government, including if later the RKAB is 3 years, whether proposed changes can be made every year or what it is," he said.Image source: IstimewaSource: www.investor.id/Mulai Tahun Depan RKAB Minerba Berlaku Tiga Tahun

Thiess has been awarded an A$240 million nickel mining contract with PT Halmahera Sukses Mineral, marking Thiess’ second successful venture in the Indonesian nickel market this year and reflecting its capability to deliver world-class mining solutions for the metals industry.During this 3.5 year contract, Thiess will deliver full mining operations including mine development, haul road construction, ore loading and hauling. The mine is situated in Central Halmahera, North Maluku, just 6 km from another Thiess operation, therefore consolidating its regional footprint and operational efficiency.Thiess Executive Chair and CEO Michael Wright said: “We are excited by this new contract award, which underscores Thiess’ expertise and strong track record in the Indonesian mining industry. It reaffirms our commitment to providing safe, sustainable, and innovative solutions to our clients while contributing to the growth of Indonesia’s nickel industry, a metal critical to enabling the global energy transition.”Thiess Group Executive – Asia Cluny Randell said: “This contract win aligns with Thiess’ strategy to diversify our commodities portfolio. Our focus on safety, technological advancement, and inclusion sets us apart. We are excited to continue building strong partnerships in the Indonesian nickel sector.”The mining services major adds: “In line with Thiess’ commitment to health and safety, comprehensive measures will be put in place to ensure the safety and well-being of the team. Further, Thiess will continue its dedication to diversity, equity, and inclusion by launching its female operator training program, aimed at fostering greater female participation in the mining workforce. The company remains committed to operational excellence and contributing positively to the communities and environments in which it operates.”Image source: Paul MooreSource: www.im mining.com/Thiess Awarded Second Indonesian Nickel Mining Contract