Indonesia Miner Conference & Exhibition 2026

State-owned metal mining company PT Timah Tbk (TINS) stock shot up in the first trading session on Friday (8/3/2024), supported by the increase in world tin prices.As of 11:30 WIB, TINS shares flew 22.31% to IDR 740 / share. TINS shares today moved in the price range of IDR 605-IDR 750 per share.TINS shares have been traded 13,087 times with a volume of 142.39 million shares and a transaction value of IDR 99.46 billion. Its market capitalization currently reaches IDR 5.51 trillion.Until 11:30 a.m., the bid or buy order, at IDR 690 / share, was the largest buying queue in the first session today, reaching 13,300 lots or around IDR 918 million.Meanwhile, in the offer or sell order, at IDR 755 / share or the upper limit today, it became the largest selling queue in session I, reaching 89,028 lots or around IDR 6.7 billion.The increase in TINS shares also followed the surge in world tin prices, which exceeded USD 27,000 per metric ton on the London Metal Exchange (LME) yesterday.The surge in world tin prices occurred due to threats to supply from major producers and demand prospects that turned positive."Despite recent tax policy changes in Myanmar, tin mines in the Man Maw mining region remain closed. Meanwhile, Indonesian exports are now severely delayed as there is still no trading activity on the ICDX (Indonesia Commodity Derivatives Exchange) or JFX (Jakarta Futures Exchange) since the turn of the year," said Tom Langston, Tom Langston, Senior Market Intelligence Analyst, International Tin.He said that uncertainty regarding the licensing situation is further complicated by ongoing police investigations and the 2024 general elections.On the other hand, the demand for tin tends to rise, but the supply of tin is still limited, thus pushing up the global tin price.In addition to the soaring world tin prices, the rise of TINS shares was also caused by legal action from the Attorney General's Office to improve tin commodity governance, which affects the potential for increased production from the company."The efforts to improve the governance of tin commodities affect the potential increase in tin production by the company," said Timah Corporate Secretary Abdullah Umar. Image source: CNBC Indonesia / Andrean KristiantoSource: https://www.cnbcindonesia.com/market/20240308132408-17-520739/harga-timah-global-melonjak-saham-tins-terbang-22-lebih 

Bayan Resources Targets 57 Million MT Coal Production by 2024

13 Mar 2024, 02:28 PM 6926

PT Bayan Resources Tbk (BYAN) is targeting production volume to reach 57.0 million MT in 2024. The target is an increase of 14.69 percent from the realization of production in 2023 which amounted to 49.7 million MT."Our guidance for 2024 is to produce 55.0 to 57.0 million MT of coal. Meanwhile, the coal sales volume is 55.0 to 57.0 million MT," said PT Bayan Resources Tbk Corporate Secretary Jenny Quantero in the Exchange's disclosure of information, quoted on Wednesday (6/3/2024).The coal sales volume targeted this year is up 16.53 percent to 20.76 percent from last year's sales volume of 47.2 million MT.In terms of revenue, the company is targeting in the range of USD 3.3 billion to USD 3.6 billion. This figure is not much different from the company's revenue realization in 2023, which was recorded at USD 3.58 billion.The average cash cost in 2024 is estimated in the range of USD 40.0-43.0 per MT compared to USD 40.2 per MT in 2023. The average selling price is estimated to range from USD 60.0 to 65.0 per MT, lower than the realization of the average selling price in 2023 which amounted to USD 75.8 per MT.Capital ExpenditureTo achieve this year's target, the company has prepared a capital expenditure (capex) of USD 230 to 260 million. This capital expenditure increased by 4.59-18.24 percent from the 2023 capital expenditure realization of USD 219.9 million.Image source: Bayan ResourcesSource: https://www.liputan6.com/saham/read/5543799/bayan-resources-targetkan-produksi-batu-bara-57-juta-mt-pada-2024? 

Australian Nickel Company in Morowali Ready for Production in 2025

13 Mar 2024, 02:23 PM 7647

Coordinating Minister for Economic Affairs Airlangga Hartarto revealed that the nickel downstream industry in Morowali has a new player from Australia, namely Nickel Industries.The company, according to him, has committed to pouring USD 1.76 billion in investment to build the excelsior nickel cobalt (ENC) high-pressure acid leach (HPAL) project in the Indonesia Morowali Industrial Park (IMIP).The construction process has been carried out since October 2023. However, he confirmed that the company, which cooperates with Tsingshan, will start production in the first half of 2025 and absorb 3,500 workers."The plan is to start production in early 2025 and employ 3,500 people," said Airlangga in his office in Jakarta on Friday (8/3/2024).Airlangga said that the Australian nickel downstream company's investment is important for Indonesia because it will diversify foreign companies in Morowali, which has been considered dominated by Chinese companies."Not all investment in the nickel sector, in the downstream, is from Chinese investors, but there are also those from Australia," he said."So, in 2025, HPAL will operate in Morowali where Nickel Industries, a company listed in Australia, will be one of the largest shareholders," said Airlangga.The government claims the Australian company's project will be the first to globally produce three first-class nickel products for the electric vehicle and battery market, namely mixed hydroxide precipitate (MHP), nickel sulfate, and nickel cathode. Image source: CNBC Indonesia / FAISAL RAHMANSource: https://www.cnbcindonesia.com/news/20240308183843-4-520875/perusahaan-nikel-australia-di-morowali-siap-produksi-mulai-2025 

PTBA Open Opportunities for Mine Acquisition

13 Mar 2024, 02:17 PM 5765

State-owned mining company PT Bukit Asam Tbk (PTBA) is reviewing the acquisition of new coal mines. This was done as one of PTBA's strategies to improve performance.PTBA President Director Arsal Ismail said PTBA continues to actively seek opportunities to acquire new mines that provide positive value for PTBA. Recently, several projects were tendered by the government and offered to PTBA."PTBA will certainly join the mines that provide positive value for PTBA," Arsal said in Jakarta on Friday (8/3/2024).PTBA will follow and make acquisitions by looking at the economic feasibility of the mine itself. He also said PTBA would not add a new mine portfolio by acquiring low-calorie coal mines."We are also reviewing acquisitions for other private mines," he said.Meanwhile, PTBA Corporate Secretary Niko Chandra said the company is making plans by looking at the latest market developments and anticipating various dynamic factors."In 2024, PTBA targets 41.3 million tons of coal production, 43.1 million tons of sales, and 33.7 million tons of transportation," said Niko in his official statement on Friday (8/3/2024).  For the record, PTBA produced 41.9 million tons of coal in 2023, growing 13% compared to 37.1 million tons in 2022. This production achievement exceeded the target of 41 million tons set at the beginning of 2023.  The increase in production was followed by an increase in coal sales volume to 37 million tons, up 17% compared to the previous year. PTBA also recorded export sales of 15.6 million tons, up 25% compared to 2022.  Meanwhile, domestic sales were recorded at 21.4 million tons or grew 12% year-on-year (YoY).Bukit Asam Director Farida Thamrin said PTBA's capex in 2024 was at a normal level of IDR 2.9 trillion. According to her, this capex will be budgeted for several things."First, we will budget capex this year for working logistics," Farida said in Jakarta on Friday (8/3/2024).The reason is, she continued, that PTBA's coal reserves can be sold by increasing transportation capacity.In addition, PTBA's capex will also be allocated for operational infrastructure needs and will be allocated to PTBA's subsidiaries.Image source: JIBI/Annisa Kurniasari SaumiSource: https://market.bisnis.com/read/20240311/192/1748211/ptba-buka-peluang-akuisisi-tambang 

Merdeka Copper Gold Announces Completion of Pani Gold Project Feasibility Study

13 Mar 2024, 02:09 PM 10060

PT Merdeka Copper Gold Tbk (IDX: MDKA) announced the completion of the Pani Gold Project Feasibility Study. The project is expected to produce up to 500,000 ounces of gold per annum and become one of the largest primary gold mines in Indonesia and the Asia Pacific.The Pani Gold Project (PGP), in which Merdeka holds a 70% interest, contains mineral resources of 6.7 million ounces of gold. The project is estimated to have a production capacity of 19 million tons of ore per year and peak production could produce up to 500,000 ounces of gold per year. Study results confirm that the project is long-lived, low-cost, and has very attractive prospects."PGP will become one of the largest primary gold mines in Indonesia and the Asia Pacific," said President Director of PT Merdeka Copper Gold Tbk Albert Saputro in a written statement on Tuesday (12/3/2024).Since 2022, Merdeka, a national mining company with global-scale assets, has invested approximately USD 114 million in resource definition, metallurgical testing, and infrastructure. The company is targeting project commissioning in late 2025, with the first gold production scheduled for early 2026.In addition, Merdeka will invest USD 250 million for the initial development of a heap leach production facility by 2025. Production capacity at this stage will reach 7 million tons of ore per year.In the next phase, Merdeka will build a Carbon-in-Leach (CIL) processing facility in early 2027 with a capacity of 7.5 million tons of ore with an investment value of USD 633 million. Further expansion will be carried out in early 2030 with an additional production capacity of 12 million tons per year and an investment of around USD 294 million.With the existence of the heap leach and CIL production facilities, the total ore processing capacity can reach 19 million tons at peak production.Based on the results of the Feasibility Study (FS) using conservative assumptions, PGP will be a significant source of revenue for Merdeka in the future, reaching USD 11.4 billion. Then, the amount of Earning Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of USD 7.4 billion during the first 10 years of operation.The FS results also confirm that the all-in-sustaining costs (AISC) averaging USD 872 per ounce make the project highly efficient and low-cost."The Pani Gold Project, which is expected to be in production for around 20 years, is an important milestone in Merdeka Group's expansion into world-class operations and projects with a long mine life. We believe the operation of this project will also have a positive impact on the economy of the surrounding community and the economy of Pohuwato Regency and Gorontalo Province in the long term," Albert said.This is also supported by Merdeka Group's long experience in developing and operating the Tujuh Bukit Gold Mine in Banyuwangi and the Wetar Copper Mine, both of which utilize the heap leach method.Image source: Detik.com / Merdeka Copper GoldSource: https://www.detik.com/sulsel/bisnis/d-7237821/merdeka-copper-gold-umumkan-rampungnya-studi-kelayakan-proyek-emas-pani 

Far East Gold Has Diamond Drill Spinning at Priority Aloe Rek Target

13 Mar 2024, 02:02 PM 5339

Far East Gold Ltd (ASX:FEG, OTC:FEGDF) has started scout drilling at the highly prospective Victory Vein within the Aloe Rek prospect at the Woyla Copper-Gold Project in Indonesia.The 9-hole, 1,500-metre diamond drill program is the first drilling undertaken in the prospect’s history, even though the Victory Vein was Barrick Gold’s top priority prospect when it owned the project.Drilling milestone“We are extremely excited to have drills turning at Aloe Rek. The Victory Vein surface sampling, mapping, and subsurface work has shown us bonanza gold grades up to 76 g/t and significant vein width up to 70 meters wide,” FarEast Gold CEO Shane Menere said.“This milestone serves as yet another testament to the exceptional capabilities of our team in achieving in-country objectives where others have fallen short. It underscores our unwavering commitment to surpassing challenges and delivering tangible results.”Victory Vein drillingThe drill program will test the Victory vein zone with 100-meter spaced drill holes over a strike length of 500 meters and to a vertical depth of around 120 meters.Soil sampling outlined a gold-arsenic anomaly coincident with the vein system. The gold anomaly is up to 70 meters wide over a strike length of 900 meters with anomalous arsenic values over an area up to 200 meters wide.Reported trench channel sample assays include 1 meter at 13.4 g/t gold, 7 meters at 4.95 g/t gold, and 23.5 g/t silver.Far East’s mapping and rock sampling of vein material from artisanal miner workings at Aloe Rek returned gold assays of up to 76 g/t gold and 101 g/t silver within grab samples of sulphide-bearing quartz.The results confirmed reported historical assays and identified high-grade gold and silver potential within the vein system.Scout drilling at Aloe Rek Historical exploration results from Barrick in 1997 and Newcrest in 1998 led to the interpretation that Aloe Rek appeared to be a middle to high-level, low-sulphidation, epithermal vein system.The conclusion was supported by:1. Strong gold-silver-arsenic drainage geochemistry with minor associated mercury and antimony 2. Strong gold-silver-arsenic rock geochemistry with very low base metal levels 3. The abundance of quartz veining exhibits high-level epithermal textures such as chalcedonic quartz, cruciform banding, and bladed quartz pseudomorphs after calcite4. Fluid inclusion analyses from petrographic samples indicated homogenization temperatures ranging from 203º-239ºC and salinity of 0.45 wt%, inferring a maximum depth of the paleo water table at about 250 meters, which is favorable for the occurrence of high-grade mineralizationThe historical interpretation is corroborated by mapping and sampling by the Far East, which confirmed the occurrence of bladed quartz textures and high-grade gold and silver within samples of the quartz veins collected from artisanal mining pits.The results also confirm the presence of high arsenic and antimony within the vein system, suggesting that the veins (as exposed) reflect formation at a relatively high level in the epithermal system.Interpretation of recent UAV magnetic survey data indicates that the Aloe Rek prospect is reflected by an area of intense low-magnetics, which infers the veins are associated with intense argillic alteration.Image source: proactive InvestorsSource: https://www.proactiveinvestors.com/companies/news/1042594/far-east-gold-has-diamond-drill-spinning-at-priority-aloe-rek-target-1042594.html  

Harita Nickel to Build 40 MWp of Solar Power in 2024 for Energy Transition

05 Mar 2024, 02:07 PM 6009

Director of Health, Safety, and Environment of PT Trimegah Bangun Persada Tbk (Harita Nickel) Tonny Gultom said the company will build a rooftop solar power plant (PLTS) with a capacity of 40 Megawatt Peak (MWp) in 2024.The 40 MWp capacity is the initial stage of the company's rooftop solar power plant development target of 300 MWp as an energy transition measure to reduce carbon emissions."The 40 Megawatt Peak (MWp), out of 300 MWp plan, rooftop solar power plant will be built this year," Tonny said in the 2nd Mining for Journalist Workshop at Cerita Rasa Nusantara, Jakarta, Thursday.He said the PLTS is planned to be on the roof of the company's factory. In the future, it will also be built on the company's former mining land."We plan to place the 40 MWp on the factory and the camp roof. In the future, we will build on the former mine," Tonny said.He continued that the construction of this rooftop solar power plant requires a fairly expensive investment compared to the Steam Power Plant (PLTU)."(The plant) requires about 1 hectare of land for one megawatt," Tonny said.Harita Nickel targets the construction of 300 MWp of Rooftop PLTS as an attempt to reduce carbon emissions to support Indonesia in achieving Net Zero Emission (NZE) 2060.Tonny estimates that the construction costs reach 1 million to 1.5 million US dollars per 1 MWp. Thus, the costs for a capacity of 300 MWp could reach up to USD 300 million to 450 million or around Rp4.5 trillion to IDR 6.75 trillion.In the environmental aspect, Harita Nickel uses coal-fired power plants as the primary energy to support business operations in the mining and downstream sectors.The government itself has begun to implement a program to phase out coal-fired power plants to realize NZE by 2060.Image source: ANTARA / Muhammad HeriyantoSource: https://www.antaranews.com/berita/3989391/harita-nickel-akan-bangun-plts-40-mwp-di-2024-demi-transisi-energi 

Adaro (ADRO) Capital Expenditure Increased 53% to IDR 10 Trillion in 2023

05 Mar 2024, 01:52 PM 6670

PT Adaro Energy Indonesia Tbk (ADRO) issued a capital expenditure (capex) budget worth USD 648 million or equivalent to IDR 10 trillion throughout 2023 (exchange rate of IDR 15,439 per USD).The amount increased 53% year-on-year (yoy) compared to the previous year's capex fund of USD 424 million."ADRO's capital expenditure in FY23 rose 53% to USD 648 million from USD 424 million in the previous year, exceeding 2023 guidance," said management in a statement on Friday (1/3/2024).The capital budget goes towards the purchase and replacement of heavy equipment and barges. The management also spent funds for the initial investment in the aluminum smelter, supporting facilities, and investment in infrastructure.The decline in coal exports is a challenge for ADRO throughout 2023 because the absorption of black gold sales abroad only absorbed USD 5.28 billion from the original USD 6.94 billion.The decline contributed to a 19.5% yoy decline in ADRO's operating income to USD 6.51 billion from USD 8.10 billion.After cutting production costs to royalties, ADRO's net profit remained at USD 1.64 billion, equivalent to IDR 25.34 trillion. This acquisition fell 34.16% year-on-year (yoy) compared to USD 2.49 billion in 2022.Image source: Liputan6 / Doc. PT. Adaro Energy Tbk.Source: https://emitennews.com/news/realisasi-capex-adaro-adro-naik-53-persen-jadi-rp10-triliun-di-2023  

Indonesia Mining Ministry Working to Approve More Nickel, Tin Quotas

05 Mar 2024, 01:44 PM 5962

Indonesia’s ministry is trying to address delays in approving new mining volume quotas, an official at the Energy and Mineral Resources Ministry said on Monday.The ministry so far has issued approvals for quotas, known by the Indonesian acronym RKAB, for 145 million metric tons of nickel ore and 14 million tons of bauxite, said Tri Winarno, the ministry’s director of mineral business development, adding that the focus is currently on RKAB approvals for nickel and tin mining.Indonesia, this year, extended the validity of RKAB to three years from one year to reduce the frequency that companies needed to apply for the quotas. However, Tri specified that, so far, the volumes approved are only for 2024.“This (volume) is for this year. We continue to accelerate the approval process,” Tri said.Tri did not specify how many companies have acquired the RKAB approvals.Miners and smelting companies have been concerned by delays in the approvals, without which they cannot conduct mining activities.In January, exports of Indonesia’s tin products dropped 99% because of the delay.Tri said Indonesia’s largest tin miner, state-controlled PT Timah, has been granted its mining quotas as well as several private tin companies.Image source: Mining.com / Stock photosSource: https://www.mining.com/web/indonesia-mining-ministry-working-to-approve-more-nickel-tin-quotas-official-says/ 

Indonesia Powers Up: First EV Battery Factory Targets Global Exports, Boosts Local Jobs

05 Mar 2024, 01:39 PM 5851

Indonesia's march towards becoming a key player in the global electric vehicle (EV) ecosystem takes a significant leap forward with the commencement of mass production at T Hyundai LG Indonesia (HLI) Green Power's battery factory. Located in Karawang, West Java, this facility is poised to start operations in April, focusing on exporting the majority of its output to South Korean and Indian markets, especially. This venture promises substantial employment opportunities for the local workforce and places Indonesia on the EV map.Strategic Location and Production CapabilitiesThe HLI Green Power factory, boasting a production capacity of 10 gigawatt-hours, can produce up to 32.6 million battery cell units each year. These cells, each with a power capacity of up to 81 ampere-hours or 300 watt-hours, will be crafted using essential materials such as nickel, manganese, cobalt, and lithium. Indonesia's abundant nickel reserves play a crucial role in this equation, providing a strategic advantage in the competitive EV market.Empowering the Local EconomyOne of the factory's notable commitments is to local employment, with over 90 percent of its workforce comprising Indonesians, including positions for junior engineers. This initiative is expected to significantly reduce unemployment rates in the region, offering a beacon of hope for economic growth and stability. The focus on local talent underscores Indonesia's broader ambitions to nurture a skilled workforce that can propel the country forward in the high-tech industry sector.Global Impact and Future ProspectsAs Indonesia gears up to export the majority of its EV battery production, the move is set to redefine the country's position in the global supply chain. This strategic pivot caters to the growing demand for EVs worldwide and aligns with the global efforts to transition towards cleaner, more sustainable modes of transportation. The successful operation of the HLI Green Power factory could pave the way for further investments and advancements in Indonesia's EV infrastructure, potentially making it a hub for green technology in Southeast Asia.The launch of Indonesia's first EV battery factory marks a milestone in the country's industrial evolution. By embracing the global shift towards electric vehicles, Indonesia contributes to environmental sustainability and propels its economy into a future powered by green technology. This development promises to set a precedent for other nations to follow while highlighting the importance of innovation, sustainability, and local empowerment in the journey towards a cleaner planet. Image source: BNNSource: https://bnnbreaking.com/world/asia/indonesia-powers-up-first-ev-battery-factory-targets-global-exports-boosts-local-jobs 

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Adaro (ADRO) Capital Expenditure Increased 53% to IDR 10 Trillion in 2023

Indonesia Mining Ministry Working to Approve More Nickel, Tin Quotas

Indonesia Powers Up: First EV Battery Factory Targets Global Exports, Boosts Local Jobs

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