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19 Jan 2024, 12:00 PM

MDKA Spends IDR 350.8 Billion in Exploration Funds

merdekacoppergold.com
938 Views
PT Merdeka Copper Gold Tbk. (MDKA) spent exploration funds of USD 22.6 million or around IDR 350.8 billion, throughout the fourth quarter of 2023.The management of Merdeka Copper said that throughout the In the fourth quarter of 2023, MDKA carried out exploration activities in three locations, namely Tujuh Bukit of East Java, Wetar Island, and Southwest Maluku, and Pani Gorontalo. In Seven Hills, the focus is on gold and copper and silver and gold resources, in Wetar, it is focused on copper resources, and in Pani is focused on gold resources."The total expenditure for exploration by Merdeka during the fourth quarter was around IDR 350.8 billion, equivalent to a range of USD 22.6 million," the management wrote in the information disclosure. quoted Monday (15/1/2024).In more detail, the Seven Hills Project costs IDR 2,06.6 billion, which consists of tunnel maintenance and underground resource definition drilling and related test work.The result was seven subsurface drilling rigs with a total depth of 7,228.8 meters. With the completion of the subsurface drilling program, all subsurface rigs will be stopped and withdrawn. Advanced drilling will use surface drill rigs.Meanwhile, for the Tujuh Bukit gold and gold project, spent IDR 26.6 billion. Two Reverse Circulation (RC) rigs and 15 Diamond drills (DD) rigs drilled with a total drilling of 23,336 meters. Mine-age drilling and regional exploration will continue using six DD rigs and two RC rigs for resource definition, sterilization, and exploration.Furthermore, the Wetar Copper Mine copper project spent fresh funds of IDR 28 billion. From exploration, two drilling rigs were operated during this quarter, with 39 holes completed and an overall drill depth of 3,383.9 meters at Partolang.This project will later be continued by starting regional drilling programs in West and East Kali Kuning and Karkopang in the middle of the first quarter of 2024.Then the Pani Gold project costs IDR 89.6 billion. The results of exploration activities are 136 boreholes completed for a total of 15,210.1 meters, namely the drilling program of resource definition, metallurgy, and sterilization.Furthermore, it will continue using 6 rigs for resource definition drilling and geotechnical drilling programs.The Pani Gold Project is a project that contains approximately 6.6 million ounces of gold and is expected to be a long-life, low-cost gold mine with the potential to produce significant amounts of gold.Gold production is expected to begin by the end of 2025 and peak production is planned to exceed 450,000 ounces of gold per year, making it the largest gold mine in Indonesia and one of the largest gold mines in Asia Pacific.Then, the Tujuh Bukit Copper Project is one of the world's top-ranked undeveloped copper and gold mineral resources, containing about 8.1 million tons of copper and 27.4 million ounces of gold.Image source: merdekacoppergold.comSource: www.market.bisnis.com/Emiten Boy Thohir MDKA Habiskan Dana Eksplorasi Rp350,8 Miliar
News
19 Jan 2024, 09:00 AM

PT Mifa Bersaudara Commits to Aceh Mining Sustainability In 2024

SERAMBINEWS.COM
880 Views
The management and all employees of PT Mifa Bersaudara and all operational partners are committed to continuing to improve performance and implementation of the K3 culture in 2024, so as to maintain the sustainability of the mining business in Aceh.To carry out this commitment, Deputy Head of Mining Engineer of PT Mifa Bersaudara, Abdul Haris, emphasized that it takes discipline and consistency of all parties to continue to ensure that their work area is protected from unsafe conditions and actions and maintains a healthy lifestyle."Hopefully, this joint commitment will make PT Mifa Bersaudara is a safe and healthy place to work, so that employees are more productive in working to achieve the targets set in 2024," he said during the Opening Ceremony of the 2024 National K3 Month at PT Mifa Bersaudara. Commitment to Improve Performance and Implement K3 Culture in 2024 It is recorded that until the end of 2023, the number of workers in the IUP area of PT Mifa Bersaudara is 2,920, with a total working hours of 6,777,897 hours.In 2024, PT Mifa Bersaudara has set a threshold for the tolerable statistical level of occupational safety for property damage frequency rate of 3.60 and a total injury frequency rate of 0.30."While tolerable occupational health statistics for disease severity based on absenteeism (Absence Severity Rate) of 200, morbidity frequency rate of 120 and frequency of occupational disease (PAK) of 0 percent," concluded Haris.Hasbuna, representative of DISNAKER Aceh province, expressed his gratitude for the participation of PT Mifa to start this good step of K3 by holding a memorial ceremony involving all stakeholders involved in the company.He hopes for this K3 to be improved continuously. "Earlier we also heard information that there was a slight excess of the target achievement, so the improvement of work safety, especially in the mine, must be further improved," Hasbuna said.For him, what is targeted by the management in 2024 can be achieved and this requires support from all parties, especially all employees. so supervision is important in K3 but more importantly, the understanding of all employees, personal safety and company safety are even more important.Image source: SERAMBINEWS.COMSource: www.aceh.tribunnews.com/Komitmen Tingkatkan Performa & Penerapan Budaya K3 di Tahun 2024
News
18 Jan 2024, 09:00 AM

PH pitches for nickel, copper collaboration with Indonesia

mb.com.ph
874 Views
The Philippines raised the potential of a joint nickel and copper collaboration with Indonesia to facilitate the transition to green technologies for sustainable future. Trade and Industry Secretary Alfredo E. Pascual raised this potential at  the Joint Philippines-Indonesia Roundtable Meeting on Wednesday, Jan. 10, in Makati in time for the visit of Indonesian President Joko Widodo in the country.  The joint roundtable meeting was participated in by Indonesia Ambassador Agus Widjojo and members of the Indonesian and the Philippine business community.“Our nations are both rich in nickel and copper—vital for green technologies such as electric vehicles. By leveraging these resources and close collaboration, we can facilitate a transition towards a sustainable, low-carbon economy,” said Pascual.Both Philippines and Indonesia are nickel producers. The Philippines though is still looking for potential investors to engage in the processing of locally mined nickel ore to be able to participate in the global value chain for electric vehicles.   Pascual stressed that Indonesian investors can benefit from the recently issued Executive Order No. 18 last October 2023 to expedite, streamline, and automate government processes for investments in strategic sectors, such as processing critical minerals like copper and nickel.Aside from nickel processing, Pascual also drew attention to the untapped trade potential between the two countries, particularly in facilitating the flow of Filipino goods into the Indonesian markets for halal. “We can make this happen through deepened cooperation on Halal mutual based on a recognition agreement (MRA) between our nations,” said Pascual.The MRA, he said,  is aligned with Indonesia's goal to enhance regional connectivity, catalyzing the flow of goods and invigorating the trading routes between the Philippines and Indonesia.The realm of services trade stands as another fertile ground for mutual enrichment between the two  nations. Following the 2022 Memorandum of Understanding on the Creative Economy, Pascual said, the time is ripe to harness its full potential. “The Philippines is eager to forge strong ties with Indonesian enterprises, sharing insights and strategies to amplify the benefits of this agreement. We see vibrant opportunities for collaboration in film, gaming, and animation sectors,” he said. The recent enactment of the Philippines Creative Industries Development Act, he said, shows the Philippines’ dedication to nurturing the creative industries. “We invite our Indonesian counterparts to explore these avenues with us as we open our doors to expanded collaborations and operations,” he said.“We enthusiastically invite you to 'Make It Happen in the Philippines.' We stand ready to embrace your investments and form strategic business alliances. Today, we are honored by the presence of our valued partners. Your commitment to advancing our trade and investment relations is deeply appreciated. Let's construct avenues for collaboration, creating an ecosystem where enterprises prosper and communities flourish,” he added.With close to 60% of ASEAN's population residing within the borders of the two countries, he said, the Philippines and Indonesia hold significant roles in the region's economic dynamics. Indonesia stands as the Philippines' fifth-largest trading partner, fifteenth in export destination, and second in import source.Image source: mb.com.phSource: www.mb.com.ph/PH pitches for nickel, copper collaboration with Indonesia
News
18 Jan 2024, 08:00 AM

MIND ID targets the construction of SGAR Mempawah to be completed by 2024

ANTARA
872 Views
MIND ID through its subsidiary, PT Inalum, targets to immediately complete the construction of the Phase I Smelter Grade Alumina Refinery (SGAR) in Mempawah, West Kalimantan, in the second semester of 2024.The construction of the SGAR phase I project, which began in 2019, can initially be completed and start operating in 2023. But now, the target of completing the bauxite ore processing plant into alumina-aluminum base material, is targeted to be completed in the second half of 2024.Work on the bauxite to alumina smelting plant project has now reached 58% and is targeted to reach 80% of the construction period by the end of 2023. After SGAR Mempawah phase I is completed, the commercial operation target will begin to run effectively in 2025.Corporate Secretary of BUMN Holding Mining Industry MIND ID Heri Yusuf said the alumina produced by SGAR Mempawah phase I will later become raw material for aluminum smelters owned by members of the MIND ID Group, PT Inalum in Kuala Tanjung has a capacity capable of accommodating alumina up to 1 million kilo tons per annum (KTPA). The amount of alumina could be 500,000 tons of aluminum."This is a challenge for MIND ID through our subsidiary, PT Inalum, to immediately complete SGAR Mempawah phase I. When later Once this bauxite smelter has officially operated, we can connect the entire bauxite business chain into aluminum, both for domestic and export market needs," Heri said in his official statement on Wednesday (13/9).The US$ 830 million project is expected to be a solution to the problem of breaking the bauxite business chain into aluminum. According to Heri, currently, PT Antam's bauxite mining products are sent first to neighboring countries to be smelted into alumina, and then transported again to aluminum smelters."After it is completed, it is hoped that through SGAR Mempawah, it can connect the bauxite business chain into aluminum, which is one of the main materials for EV (electric vehicle) batteries in Indonesia." he said.After SGAR Mempawah phase 1 is completed, members of the MIND ID PT Inalum Group, through its subsidiary, PT Borneo Alumina Indonesia (PT BAI), plan to continue the work on SGAR Menpawah phase II with the potential for additional alumina production capacity of up to 2 million tons.PT BAI is a joint venture company with 60% share ownership of PT Inalum and PT Antam 40%. "Both are subsidiaries of MIND ID, so PT BAI can be called the grandson of MIND ID," he said.The strategy carried out by Inalum and Antam in continuing the work on SGAR Phase II involves finding strategic partners to work on SGAR phase II. This is needed to meet the brownfield and greenfield expansion needs of aluminum smelters. MIND ID continues to provide more value for Indonesia, one of which is through downstream efforts of the mining industry.In addition, Inalum has also resubmitted the SGAR Mempawah phase I project to be redesignated as one of the national strategy projects (PSN). Previously, the government revoked the SGAR Mempawah work protection from the PSN list through the issuance of Coordinating Minister for Economic Affairs Regulation Number 9 of 2022 in July 2022."When it enters again as a PSN, it will support faster project completion," he said.The revocation was based on the project, which is estimated to cost an investment of USD 1.7 billion, delayed for quite a long time due to problems from EPC consortium holders, namely state-owned enterprises from China, China Aluminum International Engineering Corporation Ltd. (Chalieco) by 75%, and the rest is PT Pembangunan Perumahan Tbk. (PTPP).Image source: ANTARASource: www.alinea.id/MIND ID targetkan pembangunan SGAR Mempawah rampung pada 2024
News
17 Jan 2024, 12:00 PM

Huayou commits to full nickel industry value chain development in Indonesia

ANTARA PHOTOS/Asep Fathulrahman
1004 Views
Huayou Indonesia, which is part of Zheijiang Huayou Cobalt Co. Ltd., promises to bring the entire nickel downstream industry chain to the country with a note of certainty of long-term policy sustainability.Deputy Director of External Affairs at Huayou Indonesia, Stevanus, stated that for the past five years, his party has invested USD 21.5 billion, or equivalent to IDR 300 trillion, in nine nickel projects in Indonesia."In the future, it is possible to bring more with a record that the leadership transition can run well and the vision for downstream is still supported," he said during the Media Gathering in Jakarta on Friday (12/1).Steven stated that so far, Huayou sees the Indonesian government's roadmap for nickel downstream, especially for electric vehicles, in line with world business trends.He reminded that continuity of leadership and policies is very important for the business world, especially for downstream programs that require certainty of long-term plans and large investments. Therefore, Huayou expects continued support from the government for investment in the downstream mineral industry chain, especially to secure the supply quota of raw materials such as low-grade limonite ore.According to him, the government's move to limit the Rotary Kiln Electric Furnace (RKEF) smelter that produces Nickel Pig Iron (NPI) and Ferronickel is appropriate. The reason is that the life of high-grade nickel ore reserves will be shorter if the RKEF smelter is not limited."At the same time, low-grade nickel ore loses its potential because it is not optimized. In fact, low-grade nickel resources are greater than high-grade nickel, which can bring large foreign exchange for the country, "he said.Huayou considers that now is not the time for RKEF smelters whose production is limited to NPI and Ferronickel. In fact, RKEF technology can be improved in order to produce nickel matte. This effort can be carried out to balance the exploitation of low and high grade nickel ore so that resource utilization can be maximized. On the other hand, it is time for High Pressure Acid Leaching (HPAL) smelters that absorb low-grade nickel ore to be propagated in Indonesia, along with the spur of production of raw materials for electric vehicle batteries. "So the steps of the Indonesian government are very appropriate, so don't think from the business side because business people will rack their brains to make money from existing conditions," he said. For information, Huayou began operating in Indonesia since 2018 and has developed several projects in the country. Some of those projects are as follows. The High Pressure Acid Leaching (HPAL) project in Indonesia Morowali Industrial Park (IMIP) is run by PT Huayue Nickel Cobalt. The project began construction in 2020 and reached production in 2021 with an annual capacity of 60,000 tons of nickel in Mixed Hydroxide Precipitate (MHP). Huayou also invested in Indonesia Weda Bay Industrial Park (IWIP) with Tsingshan Holding Group and Zhenshi Holding Group Co., Ltd in 2018. Then PT Huake Nickel Indonesia and PT Youshan Nickel Indonesia at IWIP is a Rotary Klin Electric Furnace (RKEF) project that began construction in 2018 and is currently in the operating stage with a total annual capacity of 90,000 tons of nickel in matte. Then, PT Huafei Nickel Cobalt at IWIP is an HPAL project that began construction in 2021 and reached production tests in June 2023 with an annual capacity of 120,000 tons of nickel at MHP. There is also the PT Kolaka Nickel Indonesia project run by Zheijang Huayou Cobalt Co. with PT Vale Indonesia Tbk (INCO) and Ford Motor Company, namely the HPAL smelter which will produce 120,000 tons of nickel in MHP in Pomalaa, Southeast Sulawesi. The project is marked by a definitive agreement signed on March 30, 2023.Huayou also participated in the Grand Package project. This mega project is a collaboration between a consortium consisting of LG Energy Solution, LG Chem, Huayou, LX International, Posco Future M, Antam, and Indonesia Battery CoIDRoration (IBC). Finally, Indonesia Pomalaa Industry Park (IPIP) located in Pomalaa, Southeast Sulawesi. IPIP is the first environmentally friendly industrial park with a complete lithium battery production chain invested by Huayou and has been designated as a National Strategic Project (PSN). Steven affirmed, Huayou will bring the entire integrated industrial chain in IPIP. Starting from the development of mining resources, the development of HPAL technology, refining, ternary precursor materials and ternary cathodes, to battery recycling. Image source: ANTARA PHOTOS/Asep FathulrahmanSource: www.industri.kontan.co.id/Huayou Indonesia Akan Bangun Seluruh Rantai Industri Hilirisasi ke Indonesia
News
17 Jan 2024, 09:00 AM

United Tractor (UNTR) Spends IDR 23.7 M on Exploration in Sibolga

EmitenNews.com
876 Views
United Tractors Tbk. (UNTR) conveyed exploitation activities in the period October 2023 to December 2023.UNTR Corporate Secretary Sara K. Loebis, in a written statement Thursday (11/1) said that exploration activities were carried out by PT Agincourt Resources (AR) as the Holder of the Contract of Work for gold and silver minerals. AR is 95% owned by PT United Tractors Tbk (UNTR).Sara explained that UNTR reported AR exploration activities in the period October 2023 to December 2023 by following the provisions of Exchange regulations with details of the cost of Exploration Activities for the October 2023 period of USD 487,383 or equivalent to IDR 7,757,187,828 and in the November 2023 period of USD 560,849 or equivalent to IDR 8,628,101,016.Furthermore, the December 2023 period is USD 475,790 or equivalent to IDR 7,334,778,640. Thus, the total cost of Exploration Activities for the period October 2023 to December 2023 is USD 1,524,022 or equivalent to IDR 23,720,067,484.The exploration activities carried out are in the Sibolga area, North Sumatra and in the period October 2023 to November 2023, AR conducted drilling with details of AR drilling with a total depth level of 4,388 meters and the period November 2023.Sarah added that AR drilled with a total depth of 4,753 meters and in December 2023, AR drilled with a total depth of 4,211 meters and exploration activities were carried out by AR, assisted by several subcontractors.Image source: EmitenNews.comSource: www.emitennews.com/Eksplorasi di Sibolga, United Tractor (UNTR) Habiskan Dana Rp23,7 M
News
17 Jan 2024, 08:00 AM

BUMI Sets Aside USD 80 Million for Capital Expenses in the Current Year

KONTAN/Cheppy A. Muchlis
860 Views
PT Bumi Resources Tbk (BUMI) is preparing this year's capital expenditure of USD 80 million. This amount is equivalent to USD 1 for 1 ton of coal produced."Most of the capex is for maintenance and to encourage production," Dileep told Kontan.co.id, Friday (12/1). Capex will be funded using internal cash by BUMI's subsidiaries.The capex is the same as BUMI's capex allocation last year.BUMI has just received approval for the Work Plan and Cost Budget (RKAB) for the 2024–2026 period. BUMI received this RKAB approval through two Special Mining Business Licenses (IUPK) of its subsidiaries, namely PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia (AI).This year, BUMI plans to produce 80 million tons of coal. "The production ratio between KPC and Arutmin is 2:1," explained Dileep.As of the third quarter of 2023, BUMI's coal sales volume increased 5% year-on-year (yoy) to 54.3 million tons from the previous 51.9 million tons. The volume of coal mined also rose 5% to 56.2 million tons from the previous 53.7 million tons.Even so, the volume of overburden (OB) removal increased by 20% to 571.2 million bank cubic meters (bcm) from the previous 475.5 million bcm.However, BUMI's average selling price (ASP) as of the third quarter of 2023 decreased 28% year-on-year to USD 85.2 per ton. As of September 2022, BUMI's ASP at that time reached USD 118.7 per ton.This has depressed BUMI's financial performance throughout the January–September 2023 period, which is reflected in the decline in net profit to revenue in this period.This coal mining issuer posted revenue of USD 1.17 billion, a decrease of 15.78% from revenue at the end of the third quarter of 2022 which reached USD 1.39 billion.Dileep said, when including the contribution of Kaltim Prima Coal (KPC), BUMI's consolidated revenue amounted to USD 4.76 billion. Meanwhile, what is included in the financial statements as of September 2023 according to PSAK 66 is USD 1.17 billion.Image source: KONTAN/Cheppy A. MuchlisSource: www.investasi.kontan.co.id/Bumi Resources (BUMI) Siapkan Belanja Modal US$ 80 Juta di Tahun 2024
News
12 Jan 2024, 12:00 PM

United Tractor (UNTR) Lowers Heavy Equipment Sales Target in 2024

www.investasi.kontan.co.id
1019 Views
PT United Tractors Tbk (UNTR) projects that the national heavy equipment market will decline this year due to two factors.First, the decline in customer spending due to the 2024 election and second due to the decline in commodity prices, especially in the mining sector."Regarding numbers, the estimated total heavy equipment market in 2023 is 18,000 units. Meanwhile, the forecast in 2024 is around 13,000-14,000 units," United Tractors Corporate Secretary Sara K. Loebis told Kontan, Friday (5/1).Although the heavy equipment market is declining, UNTR has a strategy to increase heavy equipment sales in 2024, by optimizing product support services to support the needs of heavy equipment owner customers."Through superior product support, customer heavy equipment is guaranteed productivity and work efficiency," she said.Sara said that until November 2023, sales of Komatsu brand heavy equipment reached 5,061 units, down from the same period in 2022 of 5,457. "The achievement for the full year 2023 is still being consolidated," she said.Meanwhile, in 2024, Komatsu's sales target is only set at the level of 4,000 units. Sara explained, the target was launched because she saw the declining market conditions of heavy equipment.By sector, the mining sector still dominates sales until November 2023, where 63% is contributed by the mining sector. Then, as many as 15% came from the construction sector, as many as 13% came from the forestry sector, and as many as 95 from the agribusiness sector."(The 2024 trend) is expected to remain the same because generally players in the mining sector have more definite production plans," she concluded.Image source: www.investasi.kontan.co.idSource: www.investasi.kontan.co.id/United Tractor (UNTR) Turunkan Target Penjualan Alat Berat pada 2024, Ini Alasannya
News
12 Jan 2024, 09:00 AM

Not Only China, Europe Also Invests in Nickel Mining and Smelter Investment in Indonesia

ANTARA FOTO/JOJON
1023 Views
Europe as a country known for its commitment to sustainable aspects still contributes to financing nickel mining activities, including financing for captive coal power plants. Sustainable Development Policy Research and Program Assistant at The Prakarsa, Ricko Nurmansyah explained, most of the financial flows that occur in the nickel industry are loans, bonds, and equity. The breakdown is loans 66.5%, bonds 5.4%, and equity 28.1%. The financing in the nickel industry includes mines, smelters, to captive coal-fired power plants. Based on the results of tracing financial flows, financing and investment in the upstream nickel sector is dominated by capital from China which is widely invested in Sulawesi and Halmahera (North Maluku). However, financial institutions from Europe also contributed to finance these projects. "We also mapped financial institutions from Europe that contribute to financing nickel projects in Indonesia, namely HSBC, Santander, ING Bank, and others," he said in a presentation of research results witnessed virtually, Tuesday (9/1). According to the data it collected, the largest amount of financing to the nickel project was channeled by HSBC worth USD 1.09 billion in the form of a syndicated loan for the construction of a smelter, a battery industrial area. More specifically, the loan was given for the construction of a battery factory in Karawang, West Java. Acquired the smelter PT Debonair Nickel Indonesia which owns the RKEF smelter in IWIP with a power plant capacity of 380 MW. And the loan obtained by PT Merdeka Tsinghan Indonesia. Ricko said, one thing that is highlighted in this finding is how sustainable financial policies are working today. "The European Bank already has a commitment to finance sustainable projects, meaning they are free from human rights violations, environmental impacts that reduce environmental benefits themselves," he said. Ricko said this drives urgency for financial institutions in both China and Europe to review their green commitments for their involvement in financing flows in the nickel industry. In conclusion, The Prakarsa stated the importance of promoting sustainable financial and business practices for companies in the nickel industry to Financial Services Institutions (FSIs) involved in financing flows. This is shown by the hope that financial institutions and nickel companies will be able to realize and improve equitable energy transition practices in the nickel sector in Indonesia.Image source: ANTARA FOTO/JOJONSource: www.industri.kontan.co.id/Tak Cuma China, Eropa Juga Turut Investasi Tambang dan Smelter Nikel di Indonesia

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