Mining service provider issuer PT Astrindo Nusantara Infrastruktur Tbk. (BIPI) posted a revenue increase of up to 798 percent in the first quarter of 2023. BIPI's revenue increased to US$125.83 million or the equivalent of IDR 1.87 trillion (JISDOR exchange rate of IDR 14,936 per US dollar). This revenue increased 798.18 percent compared to the first quarter of 2022 which amounted to US $ 140.1 million. This increase in revenue was driven by coal sales of US$117.33 million which is a new source of income for BIPI.Then, the port lease is US$ 6.16 million, CPP & OLC is US$ 2.31 million, and others is US$ 9,871. This increase in revenue also pushed up BIPI's cost of revenue to 2,036.9 percent to US$95.24 million. This cost of revenue increased from US$44.57 million from the first quarter of 2022. However, BIPI's gross profit was recorded to have increased by 256 percent from US$8.59 million in the first quarter/2022, to US$30.59 million in the first quarter/2023. Meanwhile, BIPI's net profit also rose 761.3 percent to US$10.32 million, from US$1.19 million on an annual basis. This net profit is equivalent to IDR 154.15 billion.BIPI recorded total assets of US$1.81 billion at the end of March 2023, up from the end of December 2022 of US$1.13 billion. BIPI's total liabilities increased to US$1.17 billion on March 31, 2023, from US$594.07 million on December 31, 2022. Meanwhile, BIPI's total equity also increased to US$643.87 million in the first quarter of 2023, from US$536 .2 million by the end of 2022.Source: https://market.bisnis.com/read/20230522/7/1657954/kinerja-astrindo-bipi-naik-798-persen-apa-penyebab-utamanya

PT Indo Tambangraya Megah Tbk (ITMG) targets total production volume this year to be in the range of 16.6 million tons to 17.0 million tons of coal. This target is relatively the same as last year's production achievement of 16.6 million tonnes. Throughout the first quarter of 2023, ITMG has produced 3.8 million tonnes of coal amid heavy rainfall at the start of the year. When compared to production in the first quarter of 2022, ITMG's coal production is relatively stable.Yulius Gozali, Director of Corporate Communications and Investor Relations of ITMG believes the coal production target will be achieved. This is because, compared to last year's figures, this year's production volume growth target is not that high, namely less than 5%. In addition, on a seasonal basis, coal production in the first quarter of 2023 tends to be small. “In the future production will increase slowly. Most of the production will increase in the third and fourth quarters," said Yulius, Wednesday (18/5). From a sales perspective, ITMG is targeting a total sales volume of 21.5 million tons to 22.2 million tons. Of the sales volume target, 37% of the selling price has been set, 41% refers to the coal price index, while the remaining 22% has not been sold.As of the first quarter of 2023, ITMG's total coal sales volume reached 4.5 million tons. This number is up 4.6% from sales in the same period last year of 4.3 million tons. Yulius is also optimistic that this target can be achieved. The sentiment of cutting China's coal production due to a mining accident in the Inner Mongolia region can have a positive impact on ITMG, although the impact is not that significant. Sectorally, Yulius agrees that there is no sign of a significant increase in coal demand. China, as the biggest consumer of coal, is still struggling with the Covid-19 case, so the open-close lockdown policy is still in effect.“Second, there is the threat of a recession in the European continent and the United States (US). "With that, automatic requests are not maximized. This is why prices can't go up anymore," said Yulius. However, he sees the possibility that demand will increase in the third quarter of 2023. This is because a number of countries will restock ahead of winter to secure their energy needs. After all, the acquisition of the average selling price, aka the average selling price (ASP) of ITMG coal is still growing, although it is very thin. ASP realization during the first three months of 2023 was US$ 151 per ton or relatively equivalent to the same period last year, which was US$ 150 per ton. With an increase in average selling price coupled with an increase in selling volume, ITMG posted net sales of US$ 686 million or 7% higher than the same quarter in the previous year.Source: https://industri.kontan.co.id/news/indo-tambangraya-itmg-targetkan-penjualan-batubara-222-juta-ton-di-tahun-2023

PT Timah Tbk involves village-owned enterprises (bumdes) in the Bangka Belitung Islands Province in reclamation of 400 hectares of ex-mining land, as an implementation of sustainable mining practices by prioritizing the implementation of Good Mining Practice (GMP). "In the first quarter of this year, PT Timah Tbk together with the village-owned enterprises had reclaimed 97.6 hectares or had reached 24.4 percent of the 2023 reclamation plan of 400 hectares," said PT Timah Tbk Head of Corporate Communications Anggi Siahaan in Pangkalpinang, Saturday.He said PT Timah Tbk is committed to carrying out sustainable mining, one of which is by consistently carrying out reclamation of former mines in the company's operational areas, so that it can boost the economy of the people in this area. "One of the forms of reclamation that has been carried out by PT Timah Tbk is in the Air Jangkang Reclamation Village and Selinssing Reclamation Village," he said.He stated that the two reclamation villages had become tourist destinations for the people of Bangka and Belitung Islands. Even in the Selinsing Reclamation Village which is managed together with Bumdes Selinsing, it has had an economic impact on the village because it has become one of the most popular tourist destinations visited by residents. "Alhamdulillah, in carrying out this reclamation it has been able to provide an economic impact for the community and also protect the plants that have been planted such as fruit trees such as oranges, avocados and others," he said.He emphasized that the company is committed to carrying out sustainable environmental management and also providing added value to society. "Sustainable environmental management is one of the company's priorities. So the reclamation program being carried out is not only limited to carrying out its responsibilities but also has an economic impact on the community," he said.Source: https://www.antaranews.com/berita/3547467/pt-timah-libatkan-bumdes-reklamasi-400-hektare-bekas-tambang

The downstream nickel policy, which was initiated two years ago through a ban on nickel ore exports, is increasingly bearing fruit. Investment in nickel smelters or processing facilities in the country is getting more massive along with the electric vehicle fever that is happening in many countries around the world. Of course, the flood of nickel smelter investment in Indonesia is certainly not without reason. Indonesia will produce 1.6 million tonnes of nickel in 2022, ranking second after Australia as the country with the largest reserves in the world, namely 21 million tonnes. Launching Nikkei Asia on Saturday (13/5/2023), iron and steel giant from South Korea, POSCO Holdings (POSCO) will build a nickel smelter in Halmahera, North Maluku. The investment value of the smelter, which is targeted to be completed in 2025, is US$441 million. The POSCO smelter in Halmahera will process nickel into intermediate products which will then be used as raw material for electric vehicle batteries. It is known that the products produced by the smelter can be used to produce up to 1 million electric cars.POSCO is not alone, Germany's leading chemical producer, BASF and French mining company, Eramet will also build their smelters in North Maluku. The investment value issued for the smelter is no joke, reaching US$2.6 billion. Later, the smelter resulting from the efforts of the two companies or joint-venture will produce nickel-cobalt compounds used in electric car batteries.The leaders of the two companies are known to have met with President Joko Widodo or Jokowi Jokowi in Germany on April 16 2023 to convey their investment plans. The presence of POSCO, BASF and Eramet has made the nickel processing industry in the country even more lively. They are gradually shifting the dominance of companies from China that have already built their nickel smelters, especially in Sulawesi and North Maluku. The existence of smelters built by Chinese companies cannot be separated from the cooperation with local companies. One example is PT Trimegah Bangun Persada Tbk or Harita Nickel which is building a nickel processing facility in collaboration with Lygend Resources & Technology, China. In addition, another example is PT Merdeka Battery Materials, a nickel processing company, a subsidiary of PT Merdeka Copper Gold Tbk, which partners with battery giant from China, Contemporary Amperex Technology (CATL). On the other hand, the nickel downstream policy in Indonesia succeeded in "reconciling" the United States (US) and China in the smelter construction project in Southeast Sulawesi. Ford Motor invests in PT Vale Indonesia Tbk's nickel smelter, the construction and operation of which involves Zhejiang Huayou Cobalt, China.Source: https://ekonomi.bisnis.com/read/20230520/44/1657582/larangan-ekspor-nikel-posco-hingga-basf-berbondong-bangun-smelter-di-indonesia

PT Bukaka Teknik Utama Tbk (BUKK) is increasingly serious about working on a nickel smelter project through its subsidiary PT Bumi Mineral Sulawesi. Bukaka Teknik Utama Finance Director Afifuddin Kalla revealed that his party is currently building two nickel smelter factories in Palopo, South Sulawesi. The two plants consist of a ferronickel (FeNi) plant with a capacity of 34 thousand tonnes per year and a nickel sulfate plant with a capacity of 31,400 tonnes per year using the Rotary Kiln Electric Furnace (RKEF) and High Pressure Acid Leach (HPAL) technology."For the Commercial Operation Date (COD) schedule, it is likely that the FeNi factory will be operational at the end of this year in November. The second factory will be COD in the first quarter of 2024," Afifuddin said at the Public Expose, Wednesday (17/5). Afifuddin continued, in 2024 his party would continue to develop the nickel sulfate factory for phase II. Phase II development includes four nickel sulfate plants with a capacity of 31,400 tons per year each. "We see nickel as a resource in Sulawesi that can be utilized. We want to become a nickel player in Sulawesi, which has 100% national ownership," explained Afifuddin. Afifuddin continued, companies will target a number of markets, including the United States, the European Union and Japan.According to him, domestic smelter products are currently facing challenges to the Inflation Reduction Act (IRA) policy. "We are sure that with a composition like this we can enter and supply it to the American market which needs nickel which is greener and also the way it is made can reduce CO2 as much as possible," explained Afifuddin. Afifuddin revealed that the processing facility's electricity needs will be supplied from new renewable energy generators.Source: https://industri.kontan.co.id/news/bangun-smelter-nikel-bukaka-teknik-utama-optimistis-tembus-pasar-eropa-dan-amerika

Gold and copper mining company PT Merdeka Copper Gold Tbk (stock code: MDKA) targets gold production to reach 120,000 to 140,000 ounces of gold in 2023. "This year's production target is 120,000 to 140,000 ounces (gold), similar to last year's 2022," said MDKA General Manager of Corporate Communications Tom Malik in a Media Gathering in Jakarta, Wednesday. Tom explained, the gold production came from the Seven Bukit Gold Mine managed by PT Bumi Suksesindo, which is an open pit mine in Banyuwangi Regency, East Java, which digs mineral ore and extracts gold and silver deposits.In the first quarter of 2023, he explained that the Tujuh Bukit Gold Mine had produced 25,830 ounces of gold at a sustainable cost (AISC) of US$1,262 per ounce. Meanwhile, currently PT Bumi Suksesindo operates a gold mine covering an area of 992 hectares (ha) based on an Operation and Production Mining Business Permit which has been owned since 2012 in a production forest area in Sumberagung Village, Pesanggaran District, Banyuwangi Regency Furthermore, the company with 7.36 percent share ownership by Garibaldi Thohir still has gold mining deposits in low sulfidation epithermal deposits at the Pani Gold Project in Gorontalo Province.He explained that the Mineral Resources for the Pani Gold Project amounted to 263.6 million tons, with a grade of 0.75 grams per tonne of gold containing 6.35 million ounces of gold, which is currently in the feasibility study process and is expected to be completed by the end of the year. quarter III-2023. Around the mining area, he said roads, accommodation, facilities and other supporting infrastructure are being built to ensure construction can begin in the third quarter of 2023. "The Pani Gold Project is currently focused on optimizing project funds, mining schedules, and material and recovery opportunities in the early years of mining," said Tom. For information, PT Merdeka Copper Gold Tbk is targeting gold production at the Tujuh Bukit Gold mine of 100,000 ounces to 120,000 ounces in 2022.Source: https://www.antaranews.com/berita/3543420/merdeka-copper-gold-targetkan-produksi-emas-capai-140-ribu-ons-di-2023

 PT Ancora Indonesia Resources Tbk (OKAS)managed to grab the top gainer title during yesterday’s closing bell (16/5) in Indonesia Stock Exchange (IDX). A day before yesterday (15/5), the issuer was stuck at the runner-up position under PT Sarana Mitra Luas Tbk (SMIL) following its debt restructuring plan that resulted in positive sentiment among the public.Based on IDX data compiled by IDNFinancials today (17/5), OKAS’s stock price grew IDR 42 or 34.43% to IDR 164 per share from the initial IDR 164 seen on Monday (15/5). The growth presumably resulted from its announcement of obligation payment to Island Spice Investments Limited (ISIL), its new creditor, worth USD 18.24 million.The volume of traded shares clocked up to 308.73 million, all recorded in 23,019 transactions worth IDR 46.91 billion. OKAS’s shares were mostly sold by investors to gain capital as the price trend is increasing. Its foreign buy and sell clocked up to 8.38 million shares.Then, PT Jhonlin Agro Raya Tbk (JARR) arrived at the second position, rising 34.39% or IDR 65 to IDR 254 per share from IDR 189 per share. The traded shares were recorded at 41.16 million shares within 6,261 transactions worth IDR 10.08 billion. Source: https://www.idnfinancials.com/news/46907/okas-seized-smils-gainer-title

PT Kalimantan Alumunium Industry (KAI) and PT Kaltara Power Indonesia (KPI) have obtained a loan facility of IDR 2.5 trillion in total to aid the establishment of aluminium smelting facility and power plant in North Kalimantan. In the information disclosure quoted Wednesday (17/5), Mahardika Putranto, Corporate Secretary of PT Adaro Energy Indonesia Tbk (ADRO), the indirect parent company of KPI and KAI, said that this facility is intended to support investment and operational activities of the company. "The project development is an example of our commitment and participation in the government's mineral downstreaming programs," he said.The loan facility for KAI is set to IDR 1.54 trillion, which will be utilised to carry out the aluminium smelting plant project with a capacity of 500,000 tons per year. Meanwhile, the facility for KPI, amounting to IDR 952.1 billion, will be used to develop a power plant with a capacity of 1,060 megawatt (MW).  These two projects are located in the industrial area that will be developed by PT Kalimantan Industrial Park Indonesia. The facility will mature in 8 and 10 years, respectively, after the facility agreement was signed.The collateral submitted for this facility is a pledge of shares of PT Adaro Indo Alumunium (AIA) in KPI and PT Adaro Power (AP) in KAI, whose total value does not exceed the transaction value of the facility agreement. The facility agreement signing and the guarantee submission took place last Friday (12/5). Source: https://www.idnfinancials.com/news/46902/adro-subsidiary-secures-idr-loan

Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set a reference coal price (HBA) this month through Decree of the Minister of Energy and Mineral Resources Number 84.K/MB.01/MEM.B/2023 concerning Reference Metal Mineral Prices and Reference Coal Prices for May 2023. In the regulation, HBA in terms of calorific value of 6,322 kcal per kilogram (kg) GAR, 12.58 percent total moisture, 0.71 percent total sulfur and 7.58 percent ash is set at US$206.16 per tonne . "This price is used as a reference for the HBA during May in increasing royalty rates and for calculating the Coal Benchmark Price (HPB) calories greater than 6,000," said the Head of the Bureau of Communication, Public Information Services, and Cooperation (KLIK) of the Ministry of Energy and Mineral Resources, Agung Pribadi, as quoted from a press release, Monday (15/5/2023). The high calorie HBA, said Agung, is intended for the provision of electricity for public purposes, meeting the needs of raw materials or fuel for domestic industries in addition to industrial processing and refining of metal minerals.Furthermore, HBA in equivalent calorific value is 5,200 kcal per kg GAR, total moisture is 23.12 percent, total sulfur is 0.69 percent and ash is 6 percent. Determination that is categorized as HBA I is used as a reference HBA in the calculation of 5,200-6,000 calorie HPB. "HBA I was set at US$119.64 per tonne," said Agung. Finally, HBA in terms of calorific value of 4,200 kcal per kg GAR, total moisture of 35.29 percent, total sulfur of 0.2 percent and ash of 4.21 percent yielded a figure of US$82.23 per tonne. "HBA II is used as a reference HBA in calculating HPB calories less than or equal to 5,200," he said. Previously, he said, the formula for determining the HBA in principle aimed to obtain a reference price that could be accepted by the market taking into account state revenue. "This consideration is the basis for the need to issue regulations related to prices based on market mechanisms," he said. As is known, the HBA is formed from the average realized selling price of coal in the previous two months, with a proportion of 70 percent of the realized price in the previous month. In addition, the formation of the HBA was taken from 30 percent of the realized price two months earlier based on data on the realization of coal sales submitted by the mining business entity at the time of fulfilling the obligation to pay coal royalties.Source: https://ekonomi.bisnis.com/read/20230516/44/1656231/menteri-esdm-patok-hba-kalori-tinggi-mei-2022-di-angka-us20616-per-ton

PT Adaro Energy Indonesia Tbk (ADRO) will distribute dividend worth USD 1 billion from its net profit gained in 2022. This dividend is higher than the ones distributed from the 2021 net profit, which only reached USD 650 thousand. In the information disclosure quoted Tuesday (16/5), Mahardika Putranto, Corporate Secretary of ADRO, said that the dividend for the fiscal year 2022 is USD 500 million or USD 0.016 per share, while the dividend paid based on the Official Shareholders List is USD 500 million. The dividend allocation is made based on the total net profit attributable to the parent entity of USD 2.49 billion, retained earnings of USD 4.41 billion, and total equity of USD 6.52 billion.The dividend will be disbursed on June 6 to the ones in the official list recorded by May 24 (recording date). The cum and ex dividend in the regular and negotiation market has been set to May 22-23, while the cum and ex dividend in the cash market will follow on May 24-25. In 2022, the issuer had distributed an interim dividend for the fiscal year 2021 worth USD 350 million or USD 0.0112 per share, while the dividend paid according to the Official Shareholders List worth USD 300 million. In said year, ADRO recorded net profit of USD 933.49 million, retained earnings of USD 2.71 billion, and total equity of USD 4.45 billion. Source: https://www.idnfinancials.com/news/46886/adro-grant-dividend