Nickel Industries Limited won the TrenAsia ESG Award 2023 in the Nickel company category with the title Sustainability . Chief Executive Officer (CEO) of PT Tren Media Berjejaring Sukirno explained that this award is given to companies that are committed to implementing business principles that focus on environmental, social, and governance (ESG) aspects ."Congratulations to Nickel Industries Limited for winning the 2023 TrenAsia ESG Award in the Nickel company category. "Hopefully this award can be a motivation and example for other companies in Indonesia," he said shortly after giving awards to the winners at the Raffles Jakarta Hotel, Wednesday, August 30 2023.Nickel Industries Limited is committed to not causing negative impacts on the environment and to creating a positive legacy throughout its operational areas, from the exploration stage to the rehabilitation and closure process.Nickel Industries Limited Sustainability Manager Muchtazar said the TrenAsia ESG Award 2023 provides a comprehensive assessment of a company's sustainability performance from a multi-stakeholder perspective, such as government representatives, business actors, academics, media, as well as experts and practitioners in the field of ESG. "Therefore, the award we received is very important to increase the credibility of the company's sustainability programs," said Muchtazar in an interview with TrenAsia .Muchtazar revealed that ESG is very essential for the continuity of the company's operations. It is known that nickel-producing companies are needed for the manufacture of stainless steel materials, batteries , and environmentally friendly technologies. Nickel Industries Limited wants to prove that a responsible and environmentally friendly nickel mining and processing process can be carried out. This is to support business partners, customers and company shareholders to collaborate further. Without strong ESG implementation, Muchtazar said that the benefits of nickel cannot be felt optimally by industry and society."We thank TrenAsia for organizing this event and hope that a similar event can be held again in the coming years," he said.Meanwhile , Expert Council of the National Committee for Governance Policy (KNKG) Mas Achmad Daniri believes that with ESG practices, companies are not only oriented towards pursuing profits and large returns, but focus on how these profits have a positive impact on the environment and society. This is also proven by companies that have prioritized ESG, are more resilient and able to provide sustainable investment results .The TrenAsia ESG Award 2023 jury team consists of Shinta Widjaja Kamdani, Chairperson of the Indonesian Employers' Association (Apindo) and Deputy Chairperson Deputy Chairperson of the Coordinator for Maritime, Investment and Foreign Affairs of the Indonesian Chamber of Commerce and Industry; Mas Achmad Daniri, Expert Council of the National Committee on Governance Policy (KNKG); Maria Rosaline Nindita Radyati, President Director of the Institute for Sustainability & Agility ; and Adhitya Noviardi, Editor-in-Chief of TrenAsia.com.The TrenAsia ESG Award 2023 has screened more than 115 companies in 29 industrial subsectors, which were assessed based on ESG implementation and its derivative variables. The judging process starts from June to August 2023, based on the company's sustainability reports and annual reports for the 2021 and 2022 periods.Image source: TrenAsiaSource: www.trenasia.com/Hengjaya Mineralindo Menangkan Tren Asia ESG Award 2023 Kategori Perusahaan Nikel

PT Bumi Resources Tbk (BUMI) won a prestigious award, in the category of Coal Champion for ESG & Sustainability Business Principles TrenAsia 2023.BUMI President Director, Adika Nuraga Bakrie emphasized that his party would like to express its gratitude for the prestigious Coal Champion for Sustainability award in the 2023 ESG Award."BUMI's commitment with business units has always supported government programs in the success of SDG's activities. The commitment made by the company is not just a program, but has become a core business competency that has been embedded in BUMI and its business units," said Adika in a statement, Monday, 4 September 2023.Therefore, Adika ensures that BUMI will be able to implement best practices, and contribute to creating independence in society.This will of course also contribute directly to the realization of the SDGs and aspects of Environmental, Social and Governance (ESG), as stated in Law no. 40 of 2007 concerning Limited Liability Companies."Through good mining practices, we want to grow, develop and be sustainable with the surrounding community at our operational locations," said Adika."We believe we can achieve this through good corporate governance, transparent monitoring of system operations, and public concern for food security, agribusiness, water and waste management," he said.Chief Executive Officer (CEO) of PT TrenMedia Berjejaring, Sukirno said, this award is given to companies that are committed to implementing environmental, social and governance (ESG) business principles."Congratulations to Bumi Resources for winning the TrenAsia ESG Award 2023 in the coal company category. Hopefully this award can be a motivation and example for other companies in Indonesia," said Sukirno."We believe we can achieve this through good corporate governance, transparent monitoring of system operations, and public concern for food security, agribusiness, water and waste management," he said.Congratulations to Bumi Resources for winning the TrenAsia ESG Award 2023 in the coal company category. Hopefully this award can be a motivation and example for other companies in Indonesia," said Sukirno.Image source: Bumi Resources documentation.Source: www.viva.co.id/Bumi Raih Penghargaan Coal Champion for ESG AMP Sustainability Business Principles 2023

SummarySingapore-based low-calorie coal producer Geo Energy diversified its business, marking its entry into the electric vehicle sector with an investment in Charged Asia (CAPL), a prominent electric motorcycle manufacturer based in Singapore.The newly established subsidiary of Geo Energy, named Geo Electric, is facilitating this venture by disbursing a US$4 million loan to CAPL. Under the loan term, Geo Electric has secured the right to convert the principal loan amount, along with accrued interest, into equity shares within CAPL. According to Geo Energy, the loan has an annual interest of 12 percent for 24 months or until conversion, whichever is earlier. Geo will also have an option to further increase its investment in CAPL up to an additional US$36 million to become the majority shareholder.Our ViewCAPL has developed three motorcycle models and delivered more than 1,000 units in Indonesia, Malaysia, and Vietnam.Geo said CAPL has established a strong foothold in Indonesia with the potential to scale up its presence. The coal producer will collaborate with CAPL to grow its business towards becoming a key player in the Asia-Pacific EV industry.In December 2022, Charged Indonesia entered into a strategic investment agreement with Vmoto Soco Group valued at US$38 million.This investment is intended to expand Charged Indonesia's Electric Vehicles as a Service (EVaaS) business in Indonesia and other Southeast Asian countries. Priorly, Charged secured an initial funding of US$4.5 million from DeClout Ventures.Charged Indonesia has produced electric motorcycles including Charged Anoa, Charged Rimau, and Charged Maleo for both business-to-business (B2B) and business-to-consumer (B2C) customers in November 2022.For these electric motorcycle models, the company acquired technological know-how from Vmoto Soco Group. Additionally, Charged Indonesia has completed factory commissioning for the 16,000 square meter Giga shed located in Cikupa, Tangerang, Banten.Currently, all Charged Indonesia motorcycles use CATL batteries produced by the Chinese company that stands as the world's largest electric vehicle battery manufacturer.Geo Energy follows in the footsteps of coal producers venturing into the electric vehicle sector. Notably, PT Indika Energy Tbk (INDY) has collaborated with Alpha JWC and Horizon Ventures to manufacture ALVA brand electric motorcycles.Further, PT TBS Energi Utama Tbk (TOBA) has partnered with PT GoTo Gojek Tokopedia Tbk (GOTO) to produce Electrum motorcycles.These entities recognize that future revenues from the coal business are poised to diminish in tandem with the eco-friendly energy consumption trend.The electric vehicle sector could potentially serve as a revenue-generating engine for companies, especially as more individuals transition from conventional vehicles to electric alternatives.According to research from the International Renewable Energy Agency (IRENA) and the Ministry of Energy and Mineral Resources (ESDM), the projected number of electric vehicles in Indonesia is set to reach 20 million units by 2030 under the planned energy scenario (PES).To break it down, electric cars are expected to surge to 7 million units by 2030, while the number of electric motorcycles is projected to rise to 13 million units. By 2050, the electric vehicle count is expected to skyrocket to 89 million units, encompassing 42 million electric cars and 47 million electric motorcycles.Image source: dinsights.katadata.co.idSource:  www.dinsights.katadata.co.id/Geo Energy Invests In EV Producer Charged Asia

PT United Tractors Tbk (UNTR) through its subsidiary, PT Danusa Tambang Nusantara (DTN), will finalize the acquisition of two nickel companies, namely PT Stargate Pacific Resources (SPR) and PT Stargate Mineral Asia (SMA), worth USD 270 million or the equivalent of IDR 4.1 trillion.UNTR Corporate Secretary Sara K. Loebis said, until now the status of the acquisition transaction is still in the Conditional Share Sale and Purchase Agreement (CSPA) stage.Both sides, continued Sara, are preparing several conditions with the target of settlement at the end of this year."The transaction value at the time the information was disclosed at the end of December 2022 was around USD 270 million. However, this value is not final, depending on the final agreement at the closing ," Sara told Investor Daily, in Jakarta, Monday (28/8).SPR is a company that holds a mining business permit for nickel production operations in North Konawe, South Sulawesi. While SMA is a company that holds a permit to develop and operate a smelter.Strengthening UNTR to the new renewable energy (EBT) business is the company's effort to support the transition to renewable energy. "So, any type of mineral as long as it has a role in the renewable business is of interest to us," said Sara. That's why, continued Sara, the company is still looking for a renewable energy business that has good potential in the long term.Image source: CompanySource: www.investor.id/Akhir Tahun United Tractors UNTR Targetkan Penyelesaian Akuisisi 2 Perusahaan Nikel

PT Adaro Energy Tbk (ADRO) through its subsidiary has pocketed financing (financial close) for the construction of its aluminum smelter with an acquisition value of IDR 2.5 trillion.As is well known, Adaro Minerals Indonesia (ADMR) intends to develop an aluminum smelter and related supporting facilities under PT Kalimantan Aluminum Industry (KAI).The aluminum smelter project with a capacity of 500,000 tons per year is located in an industrial area in North Kalimantan, Indonesia.In the second quarter of 2023, KAI has also completed land preparation, earthworks and jetty construction for the project. KAI is also continuing to build temporary dormitories for employees and other infrastructure facilities.President Director and Chief Executive Officer Garibaldi Thohir admitted that this financial close step was a good stepping stone for his company."Fulfillment of the financing obtained for the aluminum smelter and related supporting facilities is a significant event in Adaro's business expansion into the mineral processing sector," Said State Owned Minister Erick Thohir, quoted on Wednesday (23/8/2023).It is also committed to seeking an optimal balance between shareholder returns and business expansion.It is known, in the first half of 2023, the production volume of ADRO and its subsidiary companies reached 33.41 million tonnes, up 19% from the same period last year. The sales volume target for 2023 ranges from 62-64 million tonnes.Meanwhile, sales of metallurgical coal through its subsidiary, ADMR, increased 42% to 1.82 million tonnes in 1H23. Previously, ADMR targeted sales volume in the range of 3.8-4.3 million tonnes this year.Image Source: ADMRSource: www.cnbcindonesia.com/ADMR Kantongi Rp 25 T Buat Bangun SmelterAluminium

PT Indonesia Asahan Aluminum (Inalum) targets aluminum production to increase to 300 thousand tons in 2024. Main Director of INALUM Danny Praditya revealed that this additional production was supported by the completion of an increase in production facilities from the existing smelter in Kuala Tanjung."Contractually until August 2024 it will be completed and increase production capacity from 250 thousand to an additional 25 thousand and optimization is expected to add 25 thousand so that the total output is 300 thousand tons per year," said Danny in a Hearing Meeting (RDP) with Commission VII DPR RI, Thursday (24/8).Danny explained, currently the total need for aluminum for the domestic market reaches 1.2 million tons per year. It is noted that domestic aluminum production has only been carried out by Inalum. Thus, much of the demand for aluminum still has to be met from the import market.Seeing this opportunity, Danny emphasized that two strategic initiatives for the expansion of brownfield and greenfield aluminum are very important to meet domestic demand.For this reason, currently Inalum is focusing on completing the Smelter Grade Alumina Refinery (SGAR) project with PT Aneka Tambang Tbk (ANTM).Phase I of the project is expected to start operating in the second half of 2024. In parallel, Inalum will also search for strategic partners to work on phase II of this project."This is also needed to meet the need for brownfield and greenfield expansion from aluminum smelters," explained Danny.Meanwhile, the US$ 830 million project is being managed by a joint venture between Inalum and Antam, namely PT Borneo Alumina Indonesia. In the joint venture, Inalum holds a 60% stake and Antam holds 40%.Image source: DOK/MIND IDSource: www.industri.kontan.co.id/Inalum Siap Kerek Produksi Aluminium Menjadi 300 Ribu Ton Per Tahun

PT IMC Pelita Logistik Tbk ( PSSI ) is optimistic that demand for transportation will still be high until the end of the year. At the same time, PSSI is targeting an increase in the top line and bottom line.Corporate Communication of IMC Pelita Logistics Hariman Chalid explained that until the end of 2023, his company targets to pocket a net profit of US$ 42 million with revenues of US$ 104 million.Hariman said that his party was optimistic that they could record growth because coal is still a flat industry need in 2023. PSSI projects that the demand for coal transport will still be maintained."We have pocketed both short and long term work contracts with consumers. So there is already a guaranteed transport volume of around 80%–85% in 2023," he told Kontan, recently.As of June 2023, PSSI managed to record operating revenues of US$ 53.27 million, down 5.18% on an annual basis from US$ 556.19 million. This means that PSSI has pocketed 51.22% of the revenue target.Even so, profit for the period attributable to the owners of PSSI's parent entity reached US$ 30.05 million. This value jumped 60.08% year-on-year from US$ 18.75 million.As of semester I-2023, PSSI already has one new tugboat alias tugboat. This year, IMC Pelita Logistics targets to add several new ships."The estimate for the addition of ships is around five to six units. We see the need, market demand for transportation services and the price of ship materials," he said.However, the increase in net profit was mainly supported by gains from the sale of fixed assets owned by IMC Pelita Logistik amounting to US$ 15.68 million. This post increased 365.07% from US$ 3.37 million.Main Director of IMC Pelita Logistics Iriawan explained, his party had rejuvenated its fleet to seize business diversification opportunities throughout the second quarter of 2023."We divested several inefficient and high-cost ship assets in the second quarter as part of our asset rejuvenation initiative," explained Iriawan. Image source: KONTAN/Amalia Nur FitriSource: www.investasi.kontan.co.id/IMC Pelita Logistik PSSI Bidik Laba Bersih US 42 Juta Di 2023

Fitch Ratings has affirmed PT ABM Investama Tbk's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'B+'.The Outlook is Stable. Fitch has also affirmed ABM's outstanding senior unsecured US dollar notes at 'B+' with a Recovery Rating of 'RR4'.The affirmation reflects our expectation that ABM's business profile will remain in line with its rating. ABM benefits from increasing overburden (OB) removal volumes at its coal-contracting subsidiary, PT Cipta Kridatama (CK), although this is partly offset by declining profitability of its coal mining segment. We expect ABM's financial profile to remain strong for its rating, with net leverage, measured by net adjusted debt/EBITDAR, remaining below 2.0x (2022: 1.4x) over the medium term, based on our coal-price assumptions.Rising OB Volume: Fitch expects CK's OB volume to reach about 270 million bank cubic metres (mbcm) by 2024 (1H23: 131mbcm; 2022: 203mbcm), on clients' higher planned output and a potential new contract by end-2023. We expect CK's OB volume to benefit from ABM's 30% stake in PT Golden Energy Mines Tbk (GEMS, BB-/Stable). GEMS' key mine, PT Borneo Indobara (BIB), has a competitive cost position and we expect it to drive GEMS' annual coal output to 50 million tonnes (MT) by 2025 (1H23: 20.4MT; 2022: 38.4MT). We expect BIB to make up 25% of CK's OB volume from 2024 (2022: 7%).ABM expects CK's OB volume to continue rising after reaching 300mbcm in 2024. Fitch's lower volume forecasts are based on expectations that as coal prices moderate, coal miners with higher cost positions will not be able to sustain the volume addition seen in the last two years, when commodity prices were at record highs. Some of CK's key customers, excluding GEMS, operate mines with relatively high costs. That said, miners may have flexibility to modify plans to manage costs when coal prices are weak.Strong Financial Profile Despite Expansion: We expect ABM's cashflow to be adequate to support its investments and strong financial profile. ABM plans capex of USD360 million at CK in 2023-2024 (2022: USD240 million), including expansion and maintenance, for which it raised USD170 million of new debt in 1H23 and a USD125 million bank loan in 2022. We believe ABM's expansion plan is supported by relationships with affiliates, including PT Trakindo Utama, a long-term distributor of Caterpillar Inc. (A+/Stable), which provides most of the equipment, spare parts and servicing for ABM's coal-contracting business.Weakening Coal-Mining Profitability: We forecast the profitability (EBITDA/ tonne) of the coal mining segment to plunge to around USD6 from a multi-year high of USD26 in 2022 due to falling coal prices and reserve depletion at ABM's PT Tunas Indi Abadi (TIA) mine by 2024. ABM's other mines - PT MIFA Bersaudara and PT Bara Energi Lestari (BEL) - have reserve lives of around 20 years, but produce lower calorific value coal, resulting in lower profitability. We expect production volume to remain at about 12MT (1H23: 6MT, 2022: 12.7MT), with higher volume at MIFA and BEL offsetting TIA's decline.ABM's investment plans include acquisition of coal mines to augment its coal mining segment. Fitch will treat such acquisitions as event risk.Regulatory Risk Manageable: There are risks to growth in ABM's coal mining segment because MIFA and BEL may not be able to comply with domestic market obligations (DMO) to supply 25% of their coal locally given their low calorific value coal and remote geographic location, which results in poor domestic demand. However, we believe the risk is manageable and ABM pays a penalty for non-compliance in line with the regulations.Consistent Dividends from GEMS: Fitch expects ABM to receive annual dividends of USD90 million-125 million from GEMS over the medium term. GEMS has consistently paid a minimum of 80% of its free cash flow as dividends. Fitch expects the dividend income from GEMS to comfortably cover servicing of the amortising bank loan raised by ABM to buy a 30% stake in GEMS in 3Q22.Integrated Business Model: ABM benefits from the synergies created by its integrated business model, with four businesses across the value chain: coal-mining contracting, coal mining, logistics and engineering. However, the majority of earning are linked to thermal coal, with the coal-contracting business and coal mines together accounting for more than 75% of EBITDA.Image source: https://www.abm-investama.com/Source: www.marketscreener.com/Fitch Affirms ABM Investama at B Outlook Stable

In line with the government inviting all parties to work together to reduce carbon emissions, PT Tunas Inti Abadi (TIA) managed to record a potential carbon sequestration in the reclamation area of ​​80,735 tons of CO2eq through mangrove rehabilitation at the port of 4,365 tons of CO2eq, as well as rehabilitation of watersheds (DAS) 105,925 tonnes CO2eq. This activity is a development for the community in achieving better social, economic and cultural conditions.Since 2013 TIA has taken several steps to reduce carbon emissions, including rehabilitating the watershed which covers 2,068 ha of land. This achievement exceeds the company's regulatory obligations which amount to only 1,745 ha. Of this total, 1,736 ha are located in the Sultan Adam Forest, South Kalimantan.This concrete action made the company under the auspices of ABM Investama (ABM) win the 1st runner up award from the ASEAN Coal Awards in the Best Practices in Coal Surface Mining category. "The awards we have won are inseparable from our commitment to implementing good mining practices. We realize that it is important for mining companies to protect the environment, worker safety, and manage mine waste so that it has a positive impact on the environment. This award is an incentive for us to be even better in the future,” said PT Tunas Inti Abadi (TIA) Director Dadik Kiswanto after receiving the award from the Director-General of the ministry's General Department of Mines and Energy Cambodia Victor Jona recently.The ASEAN Coal Awards is a routine activity held every two years by the ASEAN Center for Energy (ACE). This activity is a form of ASEAN regional commitment in promoting the use of coal technology while still paying attention to the environment.One of the ASEAN Coal Awards assessment standards is the company's impact on the environment and human resources. In its assessment, TIA managed to get a high score for community development through the rehabilitation program. This rehabilitation program has directly benefited 1,200 members of the local community of the Alimpung Forest Farmers Group who have been earning income from tapping rubber since the COVID-19 pandemic broke out.Meanwhile, in terms of productivity, the volume of coal produced by TIA continues to increase. In 2016 the company produced 5.82 million tons of coal from only 112,000 tons in 2009. Not only that, TIA also contributes to the energy security of ASEAN countries through the supply of coal, including exports to Vietnam, the Philippines and Thailand. This amount excludes fulfilling the obligation to supply coal to the country (Domestic Market Obligation/DMO).TIA's involvement in carrying out good mining practices is also implemented in K3 in the mining area and focuses on developing human resources as well as employee skills. During 14 years of operation, TIA recorded 56 million manhours with Zero Fatalities. In the last three years, the Company has also managed to invest more than US$ 105,475 and 7,786 hours for training programs as well as skills development.“All of the company's operational activities are of course carried out with great care. The company also continues to educate regarding the importance of employee safety and resilience. Routinely, we hold OSH briefings, describe OSH values, and provide training and certification to employees of all levels," explained Dadik.Likewise, Director of PT ABM Investama Adrian Erlangga, added, the award won by TIA is proof that the company is capable of realizing the role of mining in achieving the Sustainable Development Goals (SDGs). This is because mining activities not only prioritize profits, but also environmental aspects and worker safety.“We never stop thanking all parties for encouraging us to continue to provide the best performance. We assess the impact of implementing governance within the ABM Group in line with increasing social and environmental responsibility, so that it has an impact on sustainable company performance," said Adrian.Image source: www.inews.idSource: www.inews.id/Terapkan Good Mining Practice TIA Raih Penghargaan ASEAN Coal Awards

PT Vale Indonesia Tbk (INCO) officially signed a definitive cooperation agreement with Zhejiang Huayou Cobalt Co Ltd, and PT Huali Nickel Indonesia (Huali) for the construction of a nickel processing facility with high pressure acid leaching (HPAL) technology located in Sorowako, South Sulawesi.The consortium targets to produce 60,000 tonnes of nickel and 5,000 tonnes of cobalt per year in the form of mixed hydroxide precipitate (MHP) which can be processed into electric vehicle ( EV) batteries.The smelter will process limonite nickel ore from the Sorowako block. Meanwhile, the HPAL factory will be located in Malili, East Luwu, South Sulawesi.Vale Indonesia CEO Febriany Eddy explained, this project together with the latest progress of the Pomalaa HPAL project and the Morowali project are part of realizing the company's commitment to growth and fulfilling the company's investment commitments."This collaboration is in line with the vision to develop the domestic electric vehicle ecosystem, while at the same time making Vale a major contributor in responding to the challenges of world decarbonization, with investments that are able to bring local economic improvements, and ensure the empowerment of Indonesia's nickel resources," said Febri in his official statement, Friday (25/8/2023).President Commissioner of Vale Indonesia Desnee Naidoo added that the agreement was a strategic achievement for Vale, as part of the implementation of the company's US$ 8.6 million investment program in Indonesia."Vale is in a unique position and is committed to supporting the acceleration of Indonesia's target for more advanced downstreaming, as well as presenting an attractive electric vehicle supply chain," added Deshnee.Meanwhile, Huayou chairman Chen Xuehua said, cooperation to build an equal future for the lithium industry is a development concept that Huayou firmly adheres to the implementation commitment."This collaboration is another perfect combination of world-class leading practices from Huayou Cobalt, for green and low-carbon HPAL-based processing technology, Indonesia's resource advantages and Vale's sustainable mining consistency," he said.Chen added, Huayou will carry out low-carbon, green and sustainable resource development, as well as carry out in-depth environmental, social and corporate governance (ESG) concepts, to enhance the power of the new energy industry.Image source: Beritasatu.com / Zsazya SenoritaSource: www.beritasatu.com/Vale Gandeng Huayou Dan Huali Bangun Smelter HPAL Di Sorowako