The absorption of PT Adaro Energy Indonesia Tbk's (ADRO) capital expenditure (capex) in the first quarter of 2023 reached US$ 132 million. This capex absorption rose 87% from capital expenditure in the first quarter of 2022 of US$ 70 million. Febriati Nadira, Adaro Energy's Head of Corporate Communication, detailed that capex spending in this period was mainly used for the construction of an aluminum smelter of US$ 15 million, ordering ships of US$ 31 million, and purchasing and overhauling heavy equipment of US$ US$ 48 million. ADRO has allocated capital expenditure (capex) of US$ 400 million to US$ 600 million for this year.Meanwhile, ADRO's subsidiary, namely PT Adaro Minerals Indonesia Tbk (ADMR) spent US$ 21.6 million for capital expenditure in the first quarter of 2023, a significant increase compared to capex absorption in the first quarter of 2022 which was only US$ 0.28 million. The capex absorption was mainly related to the infrastructure project at PT Maruwai Coal and the construction of an aluminum smelter under PT Kalimantan Aluminum Industry (KAI), a subsidiary of ADMR.ADRO's production and sales volume in the first quarter of 2023 rose 29% to 15.69 million tons and 15.72 million tons respectively. In comparison, production and sales volumes in the first quarter of 2022 were only 12.15 million tonnes and 12.20 million tonnes respectively. Thermal coal products with medium calorific value account for 70% of total sales in the period from January to March 2023. Sales of ADMR metallurgical coal also recorded a significant increase of 44% to 0.85 million tons from the previous 0.59 million tons in the first quarter of 2022.This coal mining issuer posted a net profit of US$ 458.04 million during the first quarter of 2023, up 14.5% year-on-year (YoY). As a comparison, ADRO's net profit in the same period last year was US$ 400.07 million. This made ADRO's net profit per share increase to US$ 0.01478 from the previous US$ 0.01282. The increase in ADRO's net profit was in line with the increase in revenue. The issuer chaired by Garibaldi Thohir posted net income of US$ 1.83 billion, up 50% from revenue in the same period in 2022 of US$ 1.22 billion.Source: https://industri.kontan.co.id/news/adaro-energy-adro-sudah-menyerap-capex-us-132-juta-di-kuartal-i-2023

PT Bukit Asam Tbk (PTBA), a member of the mining BUMN holding MIND ID, is diversifying its business by entering into new, renewable energy (EBT) to become an integrated and sustainable world-class energy and chemical company. "One of them is by entering the new renewable energy (EBT) business along with technological developments, EBT will be more efficient. This is an opportunity that needs to be managed carefully by paying attention to PTBA's existing resources. This step is also in line with the government's target of achieving Net Zero Emissions in 2060 or sooner," said PTBA Main Director Arsal Ismail in his statement in Palembang, Thursday.He said that on April 17, 2023, PTBA agreed on a Memorandum of Understanding (MoU) with HDF Energy, which is a company engaged in the supply of renewable energy, one of which is hydrogen fuel. HDF Energy and PTBA are exploring cooperation in the development of large-scale hydrogen fuel infrastructure. in PTBA's operational areas as an effort to reduce carbon emissions. "This infrastructure can provide stable and sustainable green energy, which is needed for PTBA's own operations or for sale to the market," said Arsal.The concrete form of PTBA's support in efforts to reduce global carbon emissions is also marked by the synergy with PT Jasa Marga (Persero) Tbk in the development of a Solar Power Plant (PLTS) with a capacity of 400 Kilowatt-peak (kWp) on the Jasa Marga Group toll road. The construction of the Bali Mandara Toll Road PLTS, which was inaugurated on September 21, 2022, is going very well, resulting in positive benefits in the form of energy efficiency and operational costs, and of course helping to support Indonesia's G20 Presidency in November 2022, one of which focuses on the issue of energy transition.Previously, PTBA had built a PLTS at Soekarno Hatta Airport in collaboration with PT Angkasa Pura II (Persero). The PLTS consists of 720 solar panel systems with photovoltaics with a maximum capacity of 241 kWp and is installed in the Airport Operation Control Center (AOCC) Building. This PLTS has been fully operational since October 1, 2020. After the success in developing PLTS on the Bali Mandara Toll Road and Soekarno Hatta Airport, on February 24 2023, PT Bukit Asam Tbk and PT Jasa Marga (Persero) Tbk signed an extension of the Memorandum of Understanding (MoU) for the Development of PLTS in other toll road areas which are under the management of the Jasa Marga Group.The extension of this MoU is a form of continuous SOE collaboration and synergy in supporting efforts to reduce global carbon emissions. In addition, PT Bukit Asam Tbk and PT Timah Tbk are exploring the potential for cooperation in the development of PLTS at Timah's operational locations as a form of synergy with MIND ID Holding Members. This collaboration was marked by the signing of the Renewable Energy Development Synergy MoU on January 26, 2023. PTBA through its subsidiary, PT Bukit Energi Investama (BEI) will build a PLTS to support PT Timah's operational activities. Electricity from the PLTS will be used for production operations (dredgers), lighting, and offices which are expected to contribute to reduced emissions and more efficient energy costs.PTBA is also exploring the potential for cooperation in the development of PLTS at the operational locations of the Semen Indonesia Group (SIG). This collaboration was marked by the signing of a Memorandum of Understanding (MoU) for the Development of New, Renewable Energy (EBT) for Solar Power Plants on October 18, 2022 which is planned to begin to meet PT Semen Padang's operational energy needs.In addition, PTBA has a number of ex-mining lands that can be utilized for PLTS development. Among them are post-mining lands in Ombilin in West Sumatra covering an area of 201 hectares (ha) and in Tanjung Enim covering an area of 224 hectares. The PLTS potential in each of these lands reaches 200 Megawatts (MW). There is also a Bantuas post-mining area of 30 ha in East Kalimantan with a potential of 30 MW. "These lands belong to the company, so there is no need for land acquisition. In this way, the investment costs for PLTS can be reduced so that the electricity produced can be competitive. The ex-mining lands are also productive. Not only beneficial for the environment, but also have economic value. ," he said.Not only PLTS, he said PTBA and China Huadian Corporation (CHD) through a Memorandum of Understanding (MoU) signed on October 18, 2022 explored the development of a Wind Power Plant (PLTB) with a capacity of around 1,300 MW in South China and other renewable energy developments in Indonesia. which is currently in the process of feasibility study. In addition to developing business in the EBT sector, PTBA is also running a PLTS development program to turn on agricultural irrigation pumpsSource: https://www.antaranews.com/berita/3520434/ptba-diverisifikasi-bisnis-perusahaan-energi-dan-kimia-kelas-dunia

Shandong Nanshan Aluminium, a China-based company principally engaged in the manufacture and distribution of aluminium products, plans to invest $878m (6.07bn yuan) to build an electrolytic aluminium factory at its production base in the Galang Batang Special Economic Zone, Indonesia. The new plant will mainly produce ingots and will have an annual output capacity of 250,000 metric tonnes, with the products primarily supplied to markets in South Asia and the Association of Southeast Asian Nations region. Electrolytic aluminium is typically used for power supply. Shandong Nanshan Aluminium is headquartered in Longkou City in north-east China and has about 18,000 employees worldwide. It includes multinationals such as Apple, BMW, Boeing, China Commercial Aircraft Corporation, General Motors, Huawei, Rolls-Royce, Samsung and Volkswagen among its customers. Shandong Nanshan announced that it would set up a $5bn aluminium complex in Indonesia in 2013, to be completed in 2016, at Bintan Nanshan Industrial Park. The company has since increased its investment in the project.Source: https://www.investmentmonitor.ai/news/shandong-nanshan-aluminium-to-open-900m-factory-in-indonesia/

PT TBS Energi Utama Tbk (TOBA) seeks additional capital to further advance its electric vehicle (EV) business by issuing 1.39 billion shares in a rights issue. In the information disclosure quoted Wednesday (3/5), Pingkan Ratna Melati, Corporate Secretary of TOBA, said that all the shares that will be offered in the upcoming corporate action is valued at IDR 50 each.This rights issue will then raise its own issued and paid-up capital by approximately 17.3%. Thus, the shareholders that refuse to exercise their rights in this corporate action will have their portions diluted by 17.4%. After the rights issue, TOBA also plans to arrange a private placement, related to the Management Employee Stock Option Plan (MESOP), which will also increase the capital by 21.1%.These plans will be further discussed and decided during the Extraordinary General Shareholders Meeting scheduled on June 8, 2023. The proceeds are said to be allocated to promote new and renewable energy (NRE) development, as well as electric cars. Until March 2023, TOBA recorded 8.08 billion shares, 5.54% of which belong to PT Bara Makmur Abadi (BMA), followed by Bintang Bara BV of 7.527%, PT Toba Sejahtera of 9.976%, Highland Strategic of 61.77%, and public investors of 15.187%.Source: https://www.idnfinancials.com/news/46748/toba-sets-rights-issue-advance-ev-business

PT Bumi Resources Tbk (BUMI) managed to record an increase in financial performance throughout the first quarter of 2023. This coal mining issuer posted profit for the period attributable to owners of the parent entity of US$ 60.2 million, up 39.3% from net profit in the same period the previous year of US$ 43.3 million. The increase in net profit was in line with the increase in revenue. Throughout the first quarter of 2023, BUMI recorded revenues of US$ 454.9 million, an increase of 30.0% from actual revenues in the first quarter of 2022 which was only US$ 349.9 million.However, it should be noted, this income is based on the income statement with PSAK66. Here, BUMI cannot consolidate Kaltim Prima Coal (KPC), but can only become the equity which is accounted for 51% owned by BUMI. BUMI also presents financial reports including KPC for the benefit of investors, so that it becomes a commensurate comparison with other coal companies. As a result, BUMI posted revenue of US$ 1.64 billion, up 19% from revenue in the same period the previous year of US$ 1.37 billion.From the operational side, Director and Corporate Secretary of Bumi Resources Dileep Srivastava said, during the first quarter of 2023, BUMI posted sales volume of 15.4 million tons of bricks, a decrease of 4% from sales in the same period last year of 16.0 million. In detail, KPC's sales were 10.7 million tons (up 3%) and Arutmin Indonesia's sales were 4.8 million tons (decreased by 15%). From the production side, the volume of coal mined in the first quarter of 2023 was 16.1 million tonnes, a 1.22% decrease from the previous 16.3 million tonnes in the first quarter last year. Fortunately, the actual price of coal in the first quarter of 2023 managed to rise 23% to US$ 103.7 per ton from the previous US$ 84.5 per ton in the previous year.Source: https://investasi.kontan.co.id/news/laba-bumi-resources-bumi-melesat-393-menjadi-us-602-juta-pada-kuartal-i-2023

PT ABM Investama Tbk (ABMM) recorded profit for the year attributable to owners of the parent entity of US$ 106.03 million in the first quarter of 2023, flying 233.55% from US$ 31.78 million in the same period last year. Basic earnings per share also jumped from US$ 0.01155 in the first quarter of 2022 to US$ 0.3851 as of the end of March this year.The financial report for the first quarter of 2023 revealed that the surge in net profit was supported by an increase in revenue from contracts with customers from US$ 286.7 million to US$ 387.86 million. Meanwhile, cost of revenue also rose to US$ 257.91 million from the previous US$ 185.62 million. Meanwhile, gross profit also increased from US$ 101.07 million to US$ 129.94 million. ABM Investama recorded selling, general and administrative expenses of US$ 26.98 million; other income US$ 4.11 million; domestic market obligation of US$ 7.84 million; and other expenses of US$ 2.70 million. Operating profit increased from US$ 81.24 million to US$ 96.53 million.Profit before income tax in the first quarter of 2023 was US$ 137.26 million. Meanwhile, profit for the current period was US$ 119.96 million, which shot up from US$ 52.7 million in the first quarter of 2022. The company recorded total assets of US$ 2.14 billion as of March 31 2023, up from US$ 1.98 billion at the end of December last year. Liabilities increased from US$ 1.36 billion to US$ 1.41 billion.Source: https://investor.id/market/328442/abm-investama-abmm-laba-bersihnya-terbang-233

The integrated nickel mining and downstream issuer based in Obi Island, South Halmahera, North Maluku, PT Trimegah Bangun Persada Tbk and its subsidiary (NCKL) or Harita Nickel, announced the results of the first quarter of 2023 by recording a revenue growth of 74.6% to IDR 4.8 trillion, compared to IDR 2.7 trillion in the first quarter of 2022. Meanwhile, the net profit of owners of the parent entity reached IDR 1.4 trillion in the same period.NCKL's management said, in supporting government programs to advance the nickel industry from upstream to downstream, NCKL is committed to continuing to invest and build production facilities that can increase the volume and added value of the products it produces. "The company will also continue to maintain a healthy and strong financial position to anticipate future working capital needs," said the NCKL's written statement received by the editorial team, Wednesday (3/5/2023).It was further said, for the nickel mining segment, after elimination, NCKL's revenue increased by 71.3% to IDR 912.8 billion from IDR 532.9 billion, while for the nickel processing segment, the Company's revenue increased by 75.4% to IDR 3.9 trillion from IDR 2.2 trillion in the first quarter of 2022. The increase in NCKL's revenue was largely due to an increase in volume and production lines at the Company and its subsidiaries. Issuer TP Rachmat (ASLC) Its revenue shot up 91.6%In the first quarter of 2023, the Company recorded an increase in gross profit of 13.6%, to IDR 1.6 trillion from IDR 1.4 trillion in the first quarter of 2022. Gross profit margin decreased to 32.7% , while the ratio of operating expenses to fixed income by 4.2% due to lower coal prices and lower fuel prices compared to the first quarter of 2022. The profit for the current period amounted to IDR 1.5 trillion, a decrease compared to the same period the previous year which amounted to IDR 1.6 trillion. "The decline in profit was due to the weakening of nickel and cobalt prices, as well as the strengthening of the Rupiah in the first quarter of 2023 compared to the same period the previous year," said NCKL Management.As of March 31, 2023, for the Rotary Kiln Electric Furnance (RKEF) production line, the Company's subsidiary PT Halmahera Jaya Feronikel (HJF) has completed the construction of five production lines out of a total of 8 production lines being built. Three production lines are currently under construction and are expected to be completed by the end of the second quarter of this year, bringing HJF's total production capacity to 95 thousand metal tons/year. When combined with the production capacity of the Company's subsidiary, PT. Megah Surya Pertiwi (MSP), which has a production capacity of 25 thousand metal tons/year, the Company's total production capacity will increase to 120 thousand metal tons/year.Harita Nickel's breakthrough after a successful IPO and entering the stock exchange. NCKL has also completed the 3rd production line of the High Pressure Acid Leach (HPAL) refinery and has succeeded in achieving 100% production capacity within 2 months so that MHP's total production capacity increases from 37 thousand metal tons/year in 2022 to 55 thousand metal tons/year year in 2023. It doesn't stop there, the Company will carry out the process business further downstream by entering the commissioning phase for nickel sulfate production from early April 2023. This will be a new milestone in the electric vehicle battery industry with the presence and operation of the first nickel sulfate factory in Indonesia.Source: https://investor.id/market/328455/tumbuh-746-harita-nickel-nckl-raup-pendapatan-rp-48-triliun

PT Bukit Makmur Mandiri Utama (BMMU) will issue bonds worth USD 500 million, which will be listed in Singapore Exchange Securities Trading Limited (SGX-ST).In the information disclosure quoted Wednesday (3/5), Ronald Sutardja, President Director of PT Delta Dunia Makmur Tbk (DOID), the parent company of BMMU, mentioned that the proceeds of the bonds issuance will be allocated to pay off financial obligations specified in the 2022 Annual Financial Report.Until December 2022, BMMU, as the bonds' issuer, reportedly owed USD 957.32 million to its creditors. Thus, by issuing these bonds, it will manage to extend the due payment date of its debts.The total value of the bonds is equal to 195.14% of DOID's total equity in 2021 of USD 256.22 million. Therefore, as the value exceeds 50% of the company's equity, the bonds issuance will need to gain approval from its shareholders in an upcoming meeting on June 8, 2023. Source: https://www.idnfinancials.com/news/46747/doid-subsidiary-issue-bonds

Baru Gold Corp is currently pursuing two methods of financing to bring its Sangihe project in Indonesia into production, the company said in an investor update released Monday. The first is a C$20 million gold prepayment loan led by an Asia-based investment and banking advisory firm. Baru is currently negotiating such a gold loan with several international institutions in Indonesia and elsewhere. The second method is a non-brokered private placement. The interested parties are already mining precious metals or coal, provide mine services, or have substantial experience investing within Indonesia, the company said. Thus far, there has been more interest in the project than initially expected. The gold loan is perhaps particularly attractive to coal miners in the country, who want to increase their exposure to gold as coal prices have fallen. The Sangihe project offers proven ore reserves and additional opportunities identified in a completed structural study and planned drilling program.“I am delighted with the investment banking firm and thrilled with the discussions we are having on the gold-forward loan,” CEO Terry Filbert said in a statement. “The investment banking firm has a range, depth, and scope of contacts that has allowed us to expand our financing network to include the type of investor that we have not been able to connect with previously. Our ongoing negotiations are constructive and positive.”Baru is targeting the end of May to conclude negotiations.Notably, Baru also said it has declined several offers for acquisition.Source: https://www.proactiveinvestors.com/companies/news/1013745/baru-gold-progresses-toward-production-in-indonesia-with-gold-loan-financing-negotiations-1013745.html

Throughout this year, PT Bayan Resources Tbk (BYAN) has allocated capital expenditure (capex) of US$ 220 million to US$ 250 million for a number of purposes. Director and Corporate Secretary of Bayan Resources Jenny Quantero explained, this capex will be used for various mine expansion projects. Launching the 2022 report, there are a number of activities at the mine that BYAN will carry out throughout this year. For example, exploration activities continued in the Tabang Project with drilling concentrated in the Tiwa Abadi, Brian Anjat Sentosa and Bara Tabang concessions. During 2022, a total of 246 drill holes totaling 26,136 meters have been completed in the concession. Drilling will continue into 2023.In addition, his party is also continuing exploration in the West FKP deposit which has the potential to extend the life of the TSA/FKP project. Over the past year a total of 390 drill holes totaling 25,704 meters were completed in the area. Drilling will continue into 2023. Not only that, Bayan will also start drilling in the GBP Block 2 concession in 2022 with a total of 225 drill holes and 20,936 meters. BYAN is also working to reactivate GBP Block 2 in 2023. "Capex is also used, including for the continuation of the construction of a new 101 km coal hauling road to the Mahakam River and a new barge loading facility on the Mahakam River," he explained in a public expose, Thursday (27/4).In addition, this year's capex will be allocated for expanding throughput capacity at Balikpapan Coal Terminal (BCT) and various other smaller scale projects as well as various replacements for mobile coal handling equipment. Jenny explained that last year BYAN spent US$ 207.9 million in capital expenditures or did not reach the target budget set at US$ 267 million. He explained that the realization of capital expenditure was not achieved according to the budget due to the slow progress of the Tabang coal hauling road and overland conveyor facilities, mainly due to high rainfall throughout the first half of 2022.Bayan Resources Director Alastair McLeod explained that part of this year's capital expenditure was allocated to complete the 101 km haul road from the Tabang Project to the Mahakam River. Re-quoting the 2022 Annual Report, it was noted that the construction progress of the 101 km haul road was estimated to have been completed 84% physically. However, due to the rainy season weather last year resulted in several delays from the predetermined schedule. "So this capex is used to complete the project. We plan to complete the haul road to the Mahakam River this year," he said on the same occasion. But unfortunately, when asked about the realization of capital expenditure in the first quarter of 2023, BYAN's management was not willing to answer. McLead said that the public should wait for the announcement to be made later.Source: https://industri.kontan.co.id/news/bayan-resources-byan-siapkan-capex-hingga-us-250-juta-untuk-tahun-2023