INCO Prepares Three Nickel Smelter Projects Worth IDR 138.3 Trillion

INCO Prepares Three Nickel Smelter Projects Worth IDR 138.3 Trillion

01 Dec 2025, 08:00 AM
After Acquiring a Gold Mine, UNTR Now Establishes a New Nickel Company
After Acquiring a Gold Mine, UNTR Now Establishes a New Nick...
03 Dec 2025, 04:15 AM
Bumi Resources (BUMI) Accelerates Diversification, Targeting 50% Non-Coal Revenue by 2031
Bumi Resources (BUMI) Accelerates Diversification, Targeting...
01 Dec 2025, 06:43 AM
Merdeka Gold (EMAS) Obtains USD 350 Million Loan to Fund Pani Gold Mine Project
Merdeka Gold (EMAS) Obtains USD 350 Million Loan to Fund Pan...
08 Dec 2025, 07:48 AM
Nickel and Steel Become the Main Contributors to the Trade Balance Surplus
Nickel and Steel Become the Main Contributors to the Trade B...
01 Dec 2025, 06:46 AM
Wilton Makmur (SQMI) Reviews Capacity Expansion Plans for the Dore Ciemas Gold Factory
Wilton Makmur (SQMI) Reviews Capacity Expansion Plans for the Dore Ciemas Gold Factory
11 Oct 2023, 12:00 PM 5733

PT Wilton Makmur Indonesia Tbk (SQMI) plans further expansion.SQMI Corporate Secretary Mohammad Noor Syahriel said SQMI plans to increase the processing/input capacity of the company's dore gold factory located in Ciemas, Sukabumi, West Java to the level of 1,500 tons per day, aka tons per day (tpd).Currently, SQMI is reviewing the right time to realize this continued expansion agenda."Initially (capacity expansion) was planned after 2 years of the 500 tpd plant (gold dore plant) operating, then we will upgrade, currently being explored if we do it earlier," Syahriel told Kontan.co.id, Friday (6/10).The Ciemas dore gold factory is a Flotation and Carbon-In-Leach Processing Facility Plant. Commercial production activities at the factory have been ongoing since March 2023.Initially with an input capacity of 250 tpd, then operations were slowly increased until it reached a maximum input capacity of 500 tpd in July 2023. SQMI management has planned to increase input capacity to the level of 1,500 tpd since the start of the project.That is why, SQMI has allocated space to install additional processing capacity of 1,000 tpd at the Ciemas dore gold factory."It has been planned from the start, that's why upgrade slots have been allocated," said Syahriel.Prior to the completion of the Ciemas plant and commercial operations, SQMI's management relied solely on pool leaching activities by subcontractors to maintain the company's revenue sustainability.It is not yet known what impact the full operation of the Ciemas factory facilities will have on SQMI's performance as of the third quarter of 2023. This is because SQMI's interim financial report for the period 30 September 2023 has not yet been published when this writing was written.Throughout January-June 2023, SQMI still posted a net loss for the current period attributable to the owners of the parent entity of IDR 7.96 billion.However, this amount decreased by 41.28% compared to the net loss for the current period attributable to the owners of the parent entity SQMI for the period January-June 2022 which reached IDR 13.57 billion.It is understood that SQMI expenditure on several expense items has decreased. Cost of goods sold, for example, was recorded to have decreased by 14.26 on an annual basis or year-on-year (yoy) from IDR 1.95 billion in January-June 2022 to IDR 1.67 billion in January-June 2023.Meanwhile, total operating expenses fell 42.67% yoy from IDR 14.24 billion in January-June 2022 to IDR 8.16 billion in January-June 2023.In the meantime, SQMI's revenue was recorded to have decreased by 26.09% yoy from IDR 2.62 billion in January-June 2022 to IDR 1.94 billion in January-June 2023.Image source: SQMISource: www.industri.kontan.co.id/Wilton Makmur SQMI Kaji Rencana Ekspansi Kapasitas Pabrik Emas Dore Ciemas

Merdeka Copper's Revenue Increases 52.32%
Merdeka Copper's Revenue Increases 52.32%
11 Oct 2023, 09:00 AM 5040

In the first semester of 2023, PT Merdeka Copper Gold Tbk (MDKA) posted operating revenues of USD 520.03 million. This business revenue grew 52.32% year on year (yoy) compared to USD 341.40 million in the same period in 2022. This information was conveyed by the company in a press release in Jakarta, yesterday.Meanwhile, the company's business income is dominated by the sales segment of gold, silver, copper cathodes and ferronickel to third parties in the export market valued at USD 354.63 million, while to third parties in the domestic market it was recorded at USD 166.78 million. In terms of projects, the nickel project contributed USD 350.97 million to overall business revenue, followed by the Tujuh Bukit project contributing USD 98.10 million and the Wetar project contributing USD 68.87 million, and others worth USD 48. 56 million.As revenue increased, cost of revenue also increased 99.96% (yoy) to USD 473.89 million, compared to USD 236.99 million in the same period in 2022. Processing costs were the largest contributor to cost of revenue at USD 513.82 million, followed by mining costs at USD 55.24 million, depreciation costs at USD 44.24 million, amortization costs at USD 10.10 million, and refining costs at USD 701.54 thousand.However, amidst the increase in operating income, the company posted a net loss of USD 49.21 million during semester I-2023, compared to previously posting a profit of USD 96.79 million in the same period in 2022.Image Source: www.neraca.co.idSource: www.neraca.co.id/Pendapatan Merdeka Copper Tumbuh 52.32%

PT Koka Indonesia Builds EV Infrastructure in Morowali
PT Koka Indonesia Builds EV Infrastructure in Morowali
11 Oct 2023, 08:00 AM 5754

PT Koka Indonesia Tbk (Koka) will be listed on the stock exchange as a new issuer in the infrastructure contractor sector. This was achieved after Koka signed a contract worth IDR 81 billion. The contract was used by PT Koka Indonesia to build infrastructure related to electric vehicle (EV) batteries which was carried out with PT Chengtok Lithium Indonesia at the Indonesia Morowali Industrial Park (IMIP) in Morowali, Central Sulawesi.According to PT Koka Indonesia's Director of Finance and Operations, Michael Albert, this project, which will take five months, can strengthen the company's position as a contractor for Chengtok Lithium Indonesia. "Obtaining this contract will strengthen Koka's position as the main contractor for PT Chengtok Lithium Indonesia, while also having a positive impact on Koka's income and finances," said Michael, as reported by Kontan.co.id, on Wednesday (4/10/2023).It is known that in supporting the EV battery manufacturing project, PT Koka has collaborated with Chengtok since 2021. If the EV infrastructure building project by PT Koka runs according to the expected time, the company will continue cooperation with PT Chengtok for a similar project. However, the auction for the project has just been announced at IDR 50 billion.This company is predicted to receive six new contracts by the end of 2023. Most of these contracts will come from the mining manufacturing sector.From these six contracts, PT Koka is optimistic that it can record revenue growth of 40 percent from the previous year until the end of 2023. In addition, net profit growth is estimated to be much greater than this figure.For other information, so far PT Koka Indonesia has set the share price for the initial public offering ( IPO), namely IDR 128 per share, by releasing 715.33 million shares or the equivalent of 25 percent of the capital issued to the public. The plan is that this company will be listed on the Indonesian Stock Exchange (BEI) on October 11 2023.Image source: koka.co.idSource: www.sampaijauh.com/PT Koka Indonesia Bangun Infrastruktur EV Di Morowali

Pamapersada bags IDR 8,25 Trillion Loan
Pamapersada bags IDR 8,25 Trillion Loan
10 Oct 2023, 12:00 PM 5726

The subsidiary of PT United Tractors Tbk (UNTR), namely PT Pamapersada Nusantara, is reported to have obtained a loan with a quite fantastic value.According to Bloomberg reports, Pama received a loan worth USD 527.9 million or the equivalent of IDR 8.25 trillion. Pama obtained this loan from a number of Indonesian banks and financial institutions, according to a party who declined to be namedLenders include PT Bank Central Asia Tbk (BBCA), PT Bank Mandiri Tbk (BMRI), PT Bank Permata Tbk (BNLI), PT Bank Rakyat Indonesia Tbk (BBRI), and the Indonesian Export Financing Institution.This loan has a 5 year term with Jibor + 105 basis points (bps). Bloomberg said that this loan would be used for general company purposes.For information, Pama is a subsidiary of UNTR engaged in mining contractors. In terms of operations, Pama recorded a coal production volume of 83.8 million tons during the first 8 months of 2023. This number increased 16.4% from the realization of production in the same period last year, namely 72 million tons.Within the first 8 months of 2023, Pama recorded an overburden (OB) removal volume of 742.6 million bank cubic meters (bcm). The realization increased 22.3% from the realization of OB removal in the same period last year of 607.2 million bcm.In the August 2023 period, Pama production set a record for the highest monthly production this year. OB removal volume in August reached 115.1 million bcm while coal production reached 12.7 million tons.Image source: UNTRSource: www.investasi.kontan.co.id/Anak Usaha United Tractors UNTR Pamapersada Dikabarkan Raih Pinjaman Rp 825 Triliun

Resource Alam (KKGI) Spends USD 2.28 Million for Exploration Activities in 3 Blocks
Resource Alam (KKGI) Spends USD 2.28 Million for Exploration Activities in 3 Blocks
10 Oct 2023, 08:00 AM 5628

A coal mining company listed on the main trading board of the Indonesia Stock Exchange (IDX) since July 1 1991, PT Resource Alam Indonesia Tbk (KKGI) carries out regular monthly reports on the results of its exploration in accordance with regulatory regulations.Referring to the official KKGI statement quoted on Monday (9/10/2023), Agoes Soegiarto, Director of the company, said that his business entity PT Insani Baraperkasa had carried out in-depth exploration in the Handil Bakti Sub Block Area, South Purwajaya Sub Block and Separi Block.Until September 2023, the Company has spent USD 2,285,279 (USD 2.28 Million) for its mining exploration activities.Furthermore, in the future, geological mapping and land acquisition will be carried out for the Loajanan Block to determine potential mining sub-blocks.Then the partial block is still being studied for drilling and the process of borrowing and using part of the block area."All blocks in PT Insani Baraperkasa's PKP2B for the production stage have received approval from the Minister of Energy and Mineral Resources (ESDM)," said Agoes.In terms of performance, Resources Alam Indonesia (KKGI) managed to record net sales of USD 176.59 million until the first semester of 2023 or the period 30 June, meaning that performance managed to increase compared to the same period in 2022 of USD 109.93 million.Meanwhile, net profit for the year attributable to owners of the parent entity was USD 27.38 million, up from net profit for the year of USD 19.97 million.The company's performance report also noted that total liabilities reached USD 58.16 million for the period 30 June 2023, up from total liabilities reaching USD 47.25 million for the period 31 December 2022. KKGI also noted that total assets reached USD 204.14 million until the first semester of 2023.Image source: EmitenNews.comSource: www.emitennews.com/Resource Alam KKGI Rogoh USD228 Juta Untuk Aktivitas Eksplorasi Di 3 Blok

Producing 67 Thousand Tons of Nickel, Harum Energy (HRUM) Injects USD 500 Million in BSE Capital
Producing 67 Thousand Tons of Nickel, Harum Energy (HRUM) Injects USD 500 Million in BSE Capital
06 Oct 2023, 12:00 PM 5704

Harum Energy (HRUM) invested USD 500 million. The tactical funds were transferred by the subsidiary Tanito Harum Nickel (THN) to Blue Sparking Energy (BSE). Later, the loan facility will be used to speed up the high pressure acid leaching project.The project is designed to produce nickel-cobalt hydroxide intermediate product (MHP - Mixed Hydroxide Precipitate) with an annual installed capacity of around 67 thousand tons of nickel equivalent, and around 7,500 tons of cobalt, including facilities and supporting infrastructure. Apart from that, these funds will also be used to refinance debt and for general company purposes. Loan withdrawals can be made more than once with interest secured overnight funding rate (SOFR) plus 2.60 percent per year. This counts from every loan disbursement until the principal amount is paid in full.The loan can be returned by BSE at any time before maturity, or in full on the maturity date. Where, it matures on the 60th of the month since the loan agreement was signed. Loans can be repaid in cash or, at Tanito Nickel's discretion, converted into shares in BSE on mutually agreed terms. This transaction is based on the company's aim to achieve sustainable business growth. One of them is diversifying the business through expansion into mining and nickel processing businesses. Transactions are also a form of implementing expansion to create sustainable business growth. BSE is currently in the construction phase of the high-pressure acid leaching project which requires development costs. This transaction will not only expand the company's nickel product diversification, but also provide opportunities for the company in the battery raw material market. "Providing loans to finance the development and construction of BSE's high-pressure acid leaching project, and debt refinancing," said Ray Gunara, Approver for Harum Energy.Image source: www.emitennews.comSource: www.emitennews.com/Produksi 67 Ribu Ton Nikel Harum Energy HRUM Suntik Modal BSE USD 500 Juta

Accelerating Coal Downstreaming, Government Prepares Additional Incentives
Accelerating Coal Downstreaming, Government Prepares Additional Incentives
06 Oct 2023, 09:00 AM 5499

Indonesia's coal production in 2022 reached 687 million tons, an increase when compared to coal production in 2021. Coal production in 2022 is used to meet domestic needs as much as 215 million tons, one of which is as a supply for the needs of coal-fired power plants, while some are marketed abroad.Even though coal production has increased, Acting Director General of Mineral and Coal at the Ministry of Energy and Mineral Resources, Bambang Suswantono, revealed that according to the Roadmap to Net Zero Emission (NZE) scenario, coal production will decline in 2030."The decline in coal production is due to a decrease in coal export numbers, as well as the need for coal as raw material for electricity generation, along with the increase in raw materials from New Renewable Energy (EBT) to become a source of electricity generation," explained Bambang.Therefore, Bambang said that one of the strategies for utilizing coal is coal downstreaming, in line with the Indonesian President Joko Widodo's program of downstreaming industry to achieve a golden Indonesia by 2045, so that it will provide added value to the products produced.Coal can be processed into derivative products, both as industrial raw materials and energy sources such as Dimethyl Ether (DME), Methanol, Synthetic Gas, Hydrogen and Ammonia. Currently, several downstream coal industries have been completed, namely coal briquettes, coke making, and coal upgrading.To support coal downstreaming, Bambang said that the government is providing three incentives for companies that are committed to carrying out coal downstreaming, namely by reducing special coal royalty rates. for coal gasification to 0%, then setting special coal prices to increase added value (gasification) which is carried out at the mine mouth."The third incentive is that the validity period of the coal mining business permit specifically for coal for gasification is given in accordance with the economic age of the coal gasification industry," he said.Image source: www.esdm.go.idSource: www.esdm.go.id/Percepat Hilirisasi Batubara Pemerintah Siapkan Insentif Tambahan

BBRI Provides GEMS with Working Capital of Rp2.45 Trillion
BBRI Provides GEMS with Working Capital of Rp2.45 Trillion
06 Oct 2023, 08:00 AM 5028

PT Bank Rakyat Indonesia Tbk (IDX: BBRI) provided loan facilities worth IDR 2.445 trillion to two subsidiaries of PT Golden Energy Mines Tbk (IDX: GEMS) for working capital on September 26, 2023.GEMS Corporate Secretary, Sudin explained, the loan facility will be used as working capital to support the company's growth and performance."This loan facility will strengthen financial conditions because there are additional working capital facilities," wrote Sudin in an official statement on the Indonesia Stock Exchange (IDX) website, Wednesday (27/9/2023).He detailed that Borneo Indobara is a subsidiary of GEMS, received a working capital loan facility worth IDR 2.2 trillion with a term of 12 months.Meanwhile, Barasentosa Lestari received a working capital loan of IDR 225 billion with a term of 12 months. GEMS reported short-term bank debt of USD 37.35 million at the end of June 2023.Meanwhile, long-term bank debt is worth USD 45.37 million.As a result, the company had to incur financial costs worth USD 6.8 million.Image source: www.goldenenergymines.comSource: www.pasardana.id/BBRI Guyur Gems Modal Kerja Sebesar Rp2 45 Triliun

PT Freeport Indonesia Successfully Reduces Carbon Emissions by 24 Percent
PT Freeport Indonesia Successfully Reduces Carbon Emissions by 24 Percent
05 Oct 2023, 12:00 PM 5070

President Director of PT Freeport Indonesia, Tonny Wenas, said that his party had succeeded in reducing carbon emission production by 20 - 24 percent until 2023 because the company changed several operational fuels. "This is our effort to contribute to reducing carbon emissions as recommended by the government," said Tonny Wenas at an event entitled 'Reducing Emissions in Indonesia's Mining Sector' which was held at the Kempinski hotel, Central Jakarta, Tuesday (26/09). One of them is changing the transportation of copper ore from trucks to electric trains. Tonny Wenas explained that initially his party transported copper ore from the mining area using hundreds of trucks. He detailed that around 300 tons of copper ore were transported using 150 trucks a day. Tonny Wenas believes that truck activity increases the production of carbon emissions in a day. "So imagine how much carbon emissions come out of burning fossils and fuel," said Tony. Because of this, his party started switching to electric trains.Since using electric trains, the company can transport 110 thousand tons of copper ore from the lower mine. He also added that electric trains are considered faster in delivering mining products compared to trucks. Apart from using electric trains, PT Freeport Indonesia also uses alternative fuels to reduce carbon emissions, namely new fuels in the form of B30 (30 percent biodiesel and 70 percent diesel fuel), B40 (40 percent biodiesel and 60 percent diesel fuel) and B50 ( 50 percent biodiesel and 50 percent diesel fuel) as operational fuel for several tools. "This also helps us reduce carbon emissions that occur from upstream and downstream," he said. Now, the mining company located in Mimika district, Central Papua has formed a special team to look for innovative new energy sources to replace fossils to be used in mining production. With various efforts, he believes PT Freeport Indonesia can achieve a 60 percent reduction in carbon emissions by 2060.Image source: ptfi.co.idSource: www.thepapuajournal.com/PT Freeport Indonesia Berhasil Kurangi 24 Persen Emisi Karbon

MBMA Encourages Downstreaming of Nickel for the Sustainability of EV Batteries
MBMA Encourages Downstreaming of Nickel for the Sustainability of EV Batteries
05 Oct 2023, 09:00 AM 6718

PT Merdeka Copper Gold Tbk (MDKA) through its subsidiary PT Merdeka Battery Materials Tbk (MBMA), is increasingly aggressively downstreaming nickel to encourage the electric vehicle supply chain. This is proven by MBMA through collaboration with its strategic partners Tsingshan, CATL and Huayou."MBMA, together with Tsingshan, CATL and Huayou, is well positioned in its long-term strategy to maximize the value of its portfolio of high-quality assets from upstream to downstream expansion projects to produce critical materials to support the rapidly growing value of electric vehicles," said MBMA President Director Devin Ridwan , Monday (18/9/2023).MBMA's commitment is further strengthened after releasing its initial shares in April 2023 and obtaining fresh funds of IDR 9.2 trillion, MBMA has made significant progress in expanding and developing business along the battery value chain located in Central Sulawesi and Southeast Sulawesi, Indonesia. The company uses these funds to finance the construction and development of existing and developing projects.The 2023 Capex allocation so far includes the completion of the haul road from the SCM mine which will start sending nickel ore to IMIP, completion of the AIM project, initial production of ZHN's third RKEF facility as well as the acquisition of PT Huaneng Metal Industry (HNMI).Currently MBMA has three processing plants (smelters) with Rotary Kiln Electric Furnace (RKEF) technology which produce nickel pig iron (NPI), namely PT Cahaya Smelter Indonesia, PT Bukit Smelter Indonesia, and PT Zhao Hui Nickel (ZHN) with a total installed capacity of 88,000 tons of nickel in NPI per year .In the last quarter, NPI (Nickel Pig Iron) nickel production reached 11,870 tons with an All-In Sustaining Cost (AISC) of 13,459 US dollars/ton. MBMA also achieved more than 7.5 million working hours without Loss Time Injury (LTI) which is proof of MBMA's commitment to employee safety throughout its operations. On May 31 2023, MBMA completed the acquisition of 60% shares in PT Huaneng Metal Industry (HNMI), which has a high grade nickel matte (HGNM) conversion facility in the Indonesia Morowali Industrial Park (IMIP) area.MBMA also plans to build a nickel smelting plant with High-Pressure Acid Leach (HPAL) technology, with a capacity of 120,000 tons each, which will be built in the Indonesia Konawe Industrial Park (IKIP) complex.The construction of this factory will be carried out in two stages, with the first operational stage amounting to 60,000 tons. This factory will take limonite from the Sulawesi Cahaya Minerals (SCM) mine, which is one of the largest nickel resources in the world in accordance with the Joint Ore Reserves Committee (JORC).MBMA believes it can take advantage of the opportunity to downstream the electric vehicle battery value chain. MBMA strives to meet the world's electric motor vehicle battery needs in the future."We aspire to become a leading integrated battery materials company and have a high commitment to implementing ESG ( Environment, Social & Governance ) standards," said Devin again.Image source: CNBC Indonesia/Verda Nano SetiawanSource: www.cnbcindonesia.com/MBMA Dorong Hilirisasi Nikel Demi Keberlangsungan Baterai EV

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