The State-owned Mining Industry Holding Company comprises PT Aneka Tambang Tbk, PT Bukit Asam Tbk, PT Freeport Indonesia, PT Inalum, and PT Timah Tbk. MIND ID Group is a natural resource management company aware of the landscape changes in mining and mineral processing activities.Reclamations and biodiversity are, therefore, key material aspects of MIND ID Group's concerns. Precautionary principles are applied in every activity to minimize operational impacts.According to MIND ID Corporate Secretary Heri Yusuf, MIND ID's reclamation is a form of commitment to implementing good corporate governance and operational practices. "The reclamation is part of the MIND ID Group's mining operational cycle and will continue throughout the operational activities," he said. MIND ID conducts reclamation as part of the implementation of the company's sustainability concept.  Reclamation is a concrete step taken by MIND ID Group in applying Environmental, Social, and Governance (ESG).Heri explained the reclamation that MIND ID Group carried out has been going on since long ago. PT Timah Tbk, a member of the MIND ID Group, has consistently carried out some reclamation programs on land and sea."PT Timah carried out a marine reclamation program in 2023, such as artificial reef submergence, installation of abrasion barriers, and mangrove crab restocking," said Heri.The reclamation programs were done in Bangka Belitung Islands Province and Riau Islands Province. PT Timah synergizes with the community living around the company's operational areas in the reclamation program.PT Timah has successfully sunk around 1,920 artificial reef units in the waters of Bangka Regency, Central Bangka Regency, West Bangka Regency, and South Bangka Regency. The marine reclamation activities that have been implemented since 2016 are the company's efforts to maintain marine and coastal ecosystems. "The artificial reef can change the topography of the seabed and the flow of currents that carry food nutrients for fish, which in turn becomes a home for fish to breed," he said.In addition, the reclamation program aims to support the development of underwater tourism in Bangka Belitung Islands Province.Meanwhile, the reclamation in Riau Islands Province includes 1,000 mangrove crabs restocking and building a 200-meter-long abrasion barrier. The abrasion barrier is part of the company's efforts to maintain coastal ecosystems and prevent abrasion.Amran, one of the fishermen of Sawang Laut Village, admitted that he was very happy with the mangrove crab restocking program organized by PT Timah Tbk, a member of the MIND ID Group. He said it was directly beneficial for the fishing community and the environment."I strongly support these activities because we, the fishermen, will also feel the results with the presence of many crabs, of course, our income will also increase," he said.Another reclamation effort by MIND ID Group member PT Freeport Indonesia (PTFI) is planting and reforesting the former Grasberg open pit mine area. As of 2023, PTFI has planted 35 hectares of land in the former Grasberg excavation, precisely in the Wanagon area - west of the Cartenz peak at 3,800 meters above sea level - and in the Kaimana area - west of 4,300 meters above sea level."PTFI is targeting to revegetate and land stewardship in the former mining area of 65 hectares by 2024. The total land area to be reclaimed until operational closure in 2041 is 900 hectares," said Heri. Up until 2023, PTFI has reclaimed 507 hectares of ex-mining land. PTFI's reclamation process initially involved land sloping. This was to cover the former mining excavation using limestone or limestone as thick as 5 meters.This closure also serves as an effort to prevent water seepage. The slope of each stretch is also adjusted to a slope level of about 25 degrees.As for revegetation activities, PTFI uses local native plants, namely Deschampsia endemic grass that only grows in the Grasberg area. PTFI also has a nursery house to cultivate Deschampsia endemic grass seedlings.Approximately 10,000 Deschampsia grasses can grow on an area of 1 hectare. PTFI also conducts hydroseeding or fertilization with a sow and spray system. "MIND ID Group's reclamation efforts show the company's commitment to safe and sustainable production activities," Heri said. Image source: KONTAN / Doc. MIND IDSource: https://industri.kontan.co.id/news/program-reklamasi-grup-mind-id-terapkan-tata-kelola-pertambangan-yang-baik

PT Mineral Industri Indonesia (MIND ID) and PT Vale Indonesia Tbk (INCO) have reached an agreement for the divestment of 14% of their shares. Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif revealed that the price for the transaction of 14% of the shares to be divested has been agreed upon. The agreed value is said to be around IDR 3,000 per share. "(The deal) has been done. Hopefully, in a few days, we will just need the administration," Arifin explained at the Directorate General of Oil and Gas Office of the Ministry of Energy and Mineral Resources, on Friday (16/2).Arifin continued, that the agreement is expected to be finalized in the coming days. In addition, the government will get a discount for this transaction through MIND ID. "(Vale's current share price) is below that. A little over IDR 3,000.  We are waiting for the official announcement," Arifin continued. Minister of State-Owned Enterprises (BUMN) Erick Thohir revealed the progress of the divestment of PT Vale Indonesia Tbk (INCO) shares. Erick said that there was already a breakthrough in the negotiation process. The government, through the state-owned mining holding company MIND ID, managed to agree on the price of the shares to be purchased from Vale. "Vale has agreed, but we will announce it later with an official signing," Erick explained to the media crew after the BUMN Gen event at PIM 3, Jakarta, Tuesday evening (13/2).However, Erick did not want to disclose the exact figure the government had obtained. He emphasized that there has been a price comparison process to find the best offer or price comparison in acquiring Vale. "What is certain is that back when I negotiated with Vale, there had to be a price comprising discount. Otherwise, they will relinquish or disinvest," Erick explained. Image source: KONTAN / Arfyana RahayuSource: https://industri.kontan.co.id/news/menteri-esdm-mind-id-dan-vale-sepakati-nilai-divestasi 

PT Bumi Resources Minerals Tbk (BRMS), has increased its gold production target for 2024. Analysts said the increase in production and the average selling price of gold above USD 2,000 per troy ounce will boost BRMS' revenue in 2024.  BRI Danareksa Sekuritas analyst Hasan Barakwan said BRMS' gold production target, which rose 40% in 2024, will increase BRMS' revenue. It is in line with the increase in gold prices above USD 2,000 per troy ounce compared to 2023, which reached USD 1,943 per troy ounce."We expect the increase in gold production along with the increase in the current gold price of USD 2,037 compared to the 2023 average of USD 1,943 per troy ounce will increase BRMS' revenue," Hasan said, quoted on Sunday (11/1/2024).  Furthermore, Hasan explained that the production will also be supported by an increase in the production rate of the second mill in 2024 to 3,000-4,000 tons per day. In addition, BRMS discovered additional mineral resources and reserves in Block 1 Poboya in Palu, Central Sulawesi. The additional resources came from the River Reef prospect, Hill Reef 1 prospect, and a new prospect at Watuputih, which is in the west of River Reef. These discoveries increased CPM's total mineral resources by 50% to 42.7 million tons from 28.4 million tons, with an average gold grade of 2.6 grams per ton.  Total mineral reserves managed by CPM also increased by 38% to 31.5 million tons from 22.8 million tons produced, with an average gold grade of 2.4 grams per ton.In the previous news, BRMS Director Herwin Hidayat targeted gold production in 2024 to exceed 35,000 troy ounces, exceeding the 2023 production projection of 25,000 troy ounces.  "We hope that gold production can exceed 35,000 oz during 2024," Herwin told Bisnis on Monday (5/2/2024).Herwin also expressed optimism that BRMS' ASP gold price will remain above USD 2,000 per troy ounce throughout 2024, given the continuous upward trend in gold prices. Meanwhile, for 2023, BRMS projects gold production of around 20,000 to 25,000 troy ounces. This marks a significant increase of 270% to 362% from the total production in 2022, which reached 5,400 troy ounces. Previously, Herwin had indicated the possibility of gold prices reaching or even exceeding USD 2,000 per troy ounce throughout 2024. This belief is based on an evaluation of geopolitical conditions as well as potential interest rate cuts by The Fed.Image source: Bisnis / Bloomberg - Stefan WermuthSource: https://market.bisnis.com/read/20240211/192/1739723/potensi-produksi-emas-brms-dongkrak-pendapatan-2024 

PT Vale Indonesia Tbk (INCO) reported an increase in operational performance throughout 2023. INCO produced 70,728 metric tons of nickel in matte in 2023. The production increased by 18% from 2022's production of 60,090 tons of nickel matte."Despite facing various challenges throughout the year, we managed to exceed our production target for 2023," explained Febriany Eddy, CEO and President Director of Vale Indonesia in information disclosure on the Indonesia Stock Exchange (IDX), Sunday (11/12).The production in the fourth quarter of 2023 reached 19,084 tons of nickel in matte. This amount was 6% higher than the production volume recorded in the third quarter of 2023 which amounted to 17,953 tons of nickel matte. The realization was also up 18% year-on-year (YoY) at 16,183 tons in the fourth quarter of 2022.According to Febriany, the production increase was the outcome of an effective maintenance strategy and improved performance at the mine area and processing plant throughout 2023. This led to higher production quarterly.INCO estimates nickel matte production this year at 70,000 tons. This figure is unchanged from last year's production estimate.Bernardus Irmanto, Chief Financial Officer of Vale Indonesia, said that there are two factors why production tends to be similar. First, the maintenance level of mining equipment, in which the number of days used for equipment maintenance will increase this year. This condition will affect the equipment availability for mining production.Second, the levels of production also consider the nickel grade in the mining area affecting the output. "[If normalized,] we have the chance to produce more. But given these two factors, the feasible production level is at 70,000 tons," explained Irmanto.Irmanto claimed that INCO is striving to maintain its equipment optimally to increase the utilization rate of its equipment, which will lead to higher production in the coming year. INCO also strives to obtain better nickel ore grades for better production output.Mirae Asset Sekuritas Indonesia analyst Rizkia Darmawan gives a buy trading recommendation on INCO shares with a price target of IDR 4,900 per share. Such a target price implies an 11.7 times price-to-earnings (P/E) ratio for 2024.Rizkia sees INCO's upside potential to be limited in the short term until the completion of its smelter projects in 2026. However, Rizkia is positive about the development of INCO's projects, which will meet the needs of Indonesia's downstream nickel industry and will support the electric vehicle (EV) supply chain.Mirae Asset Sekuritas estimates nickel prices will remain high, although they will not rise higher. According to the firm, Indonesia has a large supply of grade II nickel, and global economic activity is still slow, mainly in China.The average selling price (ASP) historically reflects around 75% of the London Metal Exchange (LME) benchmark price. Therefore, Mirae Asset assumes that INCO's ASP will be around USD 13,850 per ton this year.However, risks are looming over this recommendation, including delays in project implementation, further nickel price declines coupled with rising fuel and energy prices, and changes in government regulations.Image source: Antara Foto / JojonSource: https://investasi.kontan.co.id/news/produksi-nikel-matte-vale-indonesia-inco-naik-18-sepanjang-2023 

Freeport-McMoran Inc (FCX) appointed Kathleen L. Quirk as President and Chief Executive Officer (CEO) to replace Richard C. Adkerson.This decision was announced on February 6, 2024, as reported by Freeport-McMoran's official website, effective at the annual shareholders meeting on June 11, 2024. Richard C. Adkerson will remain Chairman of the Board of Directors to support Freeport's leadership and business transition on strategic matters of importance to the company.Independent CEO Dusty McCoy said the company has been discussing the successor to Richard C. Adkerson for some time.Kathleen's 35-year track record within the company is considered to be one of her strengths. "During her 35-year career with the company, she has extensive knowledge of Freeport's business and operations, its human resources and culture, and is highly qualified to lead Freeport as CEO," McCoy said, quoted on Sunday (11/2).  The board thanked Richard for his 20 years of leadership, McCoy continued.Richard is recognized for establishing Freeport as a global leader in the copper industry, creating value for stakeholders, and building a strong organization and high-performance culture."Richard's continued commitment in supporting the company on the global issues of strategic importance to Freeport and the copper industry will continue to provide significant value," McCoy added. Kathleen joined Freeport in 1989 and was responsible for various corporate functions, including Tax, Investor Relations, Corporate Development, and Treasury, before being named Chief Financial Officer in 2003.Kathleen was appointed President of FCX in 2021 and became a member of the Board of Directors in 2023. As a senior member of the company's executive team for more than 20 years, Kathleen has been instrumental in Freeport's strategic planning and execution of corporate objectives. Kathleen expressed that she is excited to lead FCX with the support of the highly talented global team that is committed to the company's mission of providing copper and other metals necessary for life and the global economy responsibly and efficiently. "I look forward to continuing to enhance value for our stakeholders through the execution of our robust plan and the application of innovation and new technologies to improve efficiency and grow our business through expanding our large resource base to serve an ever-widening market for our products," Kathleen said. Meanwhile, Richard expressed his gratitude for the chance to lead Freeport for the past 20 years. While appreciating the team’s performance, Richard supported Kathleen's appointment as the new CEO. "Kathleen's strong and strategic business sense and increasing responsibilities over the years have demonstrated that she has the skills to lead our company and continue Freeport's tradition of excellence," Richard concluded.Image source: Ilustrasi KONTANSource: https://industri.kontan.co.id/news/freeport-mcmoran-tunjuk-kathleen-l-quirk-gantikan-richard-adkerson-sebagai-ceo 

Minister of Energy and Mineral Resources Arifin Tasrif said the bauxite alumina smelter facility currently developed by PT Indonesia Asahan Aluminum (Inalum) will be completed by the end of 2027.The statement was made after attending a closed meeting chaired by President Joko Widodo at the Presidential Palace, Jakarta, on February 5."We will build the smelter processing facilities at Inalum. It will be completed in 2027," Arifin said after the meeting, on Monday, February 5, 2024.The project will use clean energy supported by PLN. "It is full of clean energy," Arifin emphasized.Arifin did not specify the project in question. However, it is thought to be related to the Mempawah Smelter Grade Alumina Refinery (SGAR) in West Kalimantan, which is said to have reached 80 percent as of mid-December 2023. The project had been stalled for several years due to contractor disputes. The SGAR smelter is expected to produce one million tons of alumina annually with an estimated bauxite raw material of 3.3 million tons per year.Image source: Metro TV News / doc. MIND IDSource: https://www.metrotvnews.com/read/k8oC699A-indonesia-bakal-punya-smelter-bauksit-di-2027 

Managing Director of Energy Shift Institute Putra Adhiguna assessed that Indonesia needs to increase its battery production capacity, as it is estimated that it will only have 10 gigawatt hours (GWh) or less than 0. 4% of global battery production capacity by 2024."The Energy Shift Institute estimates that Indonesia will only have 10 gigawatt-hours (GWh) or less than 0. 4% of global battery production capacity, 2,800 GWh," Putra said, as reported by Antara, Friday, February 9, 2024.According to Putra, the added value of Indonesia's nickel products ranges from two to 11 times that of its raw products. However, this value is still far below the added value which is more than 60 times if it reaches battery production.Putra continued, that the policy construction aims to improve the competitiveness of Indonesian nickel rests on the promise of developing the battery and electric vehicle industries.Semi-Finished ExportersUnless Indonesia's battery production capacity is increased, Putra believes Indonesia will only shift from an exporter of nickel products for stainless steel to an exporter of semi-finished products for the battery industry."It is important for the various parties involved not to underestimate the scale of future growth because the world's battery-based electric motor vehicle revolution has just entered its early stages," he said.Regarding the rapid growth of nickel-free batteries and the debate over the future of nickel, Putra said that the global demand for nickel for batteries is likely to continue to soar.The increase, he said, could occur along with the rate of adoption of battery-based electric motor vehicles despite the presence of alternative technologies. "It is important to note that in a fast-growing sector, absolute growth figures are more important than market share," Putra said.Apart from nickel, Putra believes that what often goes unnoticed is the increase in cobalt production by Indonesia as the second-largest cobalt producer in the world. "This further emphasizes the importance of optimal natural resource management," he said.Image source: Medcom / AFPSource: https://www.medcom.id/ekonomi/sustainability/gNQ448vK-indonesia-perlu-naikkan-kapasitas-produksi-baterai 

PT PLN is supporting mineral downstream by supplying an additional 60 Megavolt Ampere (MVA) of power for PT Freeport Indonesia's copper smelter in Gresik Special Economic Zone (SEZ), East Java. PLN has also supplied the first phase of 30 MVA power in September 2023.PLN President Director Darmawan Prasodjo said that PLN fully supports the government's efforts to encourage the downstream of the mineral industry through the provision of reliable electricity at competitive prices. Downstream, he said, is a strategic step to increase the value of mineral commodities and boost national economic growth."PLN realizes that the presence of electricity is an important factor for industrial activities. Moreover, downstream of the mineral industry requires electricity with large and reliable power," Darmawan said in an official statement on Thursday (9/2).Darmawan added that his team is ready to meet the electricity needs of the mineral industry sector, which continues to increase every year. This is consistent with PLN's mission, not only to serve the community's needs but also to support the growth of the domestic industry."The availability of electrical energy is crucial in various business and industrial sectors. PLN is committed to meeting electricity needs with a high level of reliability. This is done by providing the best service to all customers, including the smelter industry sector," he added.General Manager of PLN East Java Distribution Unit (UID), Agus Kuswardoyo, explained that the electricity supply for PT Freeport Indonesia in East Java SEZ will take place in four stages. Phase I is 30 MVA, Phase II is 60 MVA, Phase III is 110 MVA, and Phase IV is 170 MVA. "PLN will continue to accelerate the addition of phase III and IV supplies by 2024," Agus said.PLN hopes that with sufficient electricity supply, PT Freeport Indonesia's smelter production can support other downstream industries such as cable factories, electric cars, and others. "PLN wants to support PT Freeport Indonesia's smelter project in Gresik Regency, one of the National Strategic Projects in improving the country's economy," Agus concluded.Image source: Jawa Pos / Doc. PLNSource: https://www.jawapos.com/ekonomi/014142073/dukung-hilirisasi-mineral-pln-pasok-tambah-daya-60-mva-untuk-smelter-tembaga-freeport-di-gresik 

Indonesia's battery production capacity in 2024 is estimated to reach only 10 gigawatt-hours (GWh), or less than 0.4% of the total global capacity of 2,800 GWh.According to Energy Shift Institute research, reported Friday (9/2/2024), Indonesia's battery production capacity, which lags far behind the global average, is inversely proportional to nickel production, which has jumped more than eight times since 2015.Indonesia's nickel downstream, in fact, was predicted by the government to increase nickel-added value and become a key player in the world's battery and battery-based electric motor vehicle (EV) industry."However, while Indonesia is slowly moving up the supply chain of the battery and EV industry, the race among other countries is already in full swing," the research said.This is reflected in the rapid growth of global battery production capacity, which is much faster than demand. In the first half of 2023, battery factories in China on average operated at less than 45% of their production capacity.As China continues to build capacity, coupled with aggressive pushes from the United States (US) and the European Union (EU) to develop their industries, competition for investment has intensified-even in a growing market."So far, the added value of Indonesia's nickel products ranges from two to 11 times that of its raw products. However, this is still far below the more than 60-fold added value for battery production," Energy Shift said.Accordingly, Energy Shift estimates that global nickel demand for batteries is likely to continue to soar in line with the pace of EV adoption despite the presence of alternative technologies."Based on existing developments, battery manufacturers are more inclined to place their factory investments following the development of the EV market, but the adoption of electric vehicles in Indonesia is still quite slow."The news of BYD's entry into Indonesia is also unlikely to have a major impact on the development of nickel-based battery factories because their vehicle models mostly use batteries without nickel.Not to mention, according to the institute, Indonesia's fierce competition with other ASEAN countries to provide incentives for EV and battery manufacturer investment also raises questions about the effectiveness of nickel downstream bargaining power in driving the battery and EV industry in the country."With the current trajectory, Indonesia is likely to shift only from an exporter of nickel products for stainless steel to an exporter of semi-finished products for the battery industry," according to the institute.As the world's nickel demand continues to grow, the parties involved must not underestimate the scale of future growth as the world's EV revolution has just entered its first phase.Competing with CanadaSigns that competition for global battery and EV manufacturers is intensifying amid massive nickel production from Indonesia can be seen in the news that mining company Canada Nickel Co Inc. plans to develop a nickel processing plant in Ontario that will cost USD 1 billion and be the largest in North America once completed.The plant will have the capacity to produce more than 80,000 tons of nickel annually and will begin operations in early 2027, the Toronto-based mining company said in a press release. According to Chief Executive Officer Mark Selby, the company also plans to build a stainless steel and alloy production plant to process nickel and chromium concentrates, which will cost an additional USD 2 billion.The plan aims to fill the gap in the electric vehicle supply chain in North America, which generally lacks the infrastructure to process and refine key materials such as nickel, copper, and lithium.Most of the metals extracted from mines in the region are shipped to China for processing before being shipped back to North America for domestic automakers.Canada Nickel's market capitalization was about USD 166 million as of market close on Wednesday, local time. The company plans to seek funding from the Canadian and Ontario governments to help build the plant, Selby said.Nickel prices have seen a dramatic drop in recent months as new supply from Indonesia floods the market - driven by Chinese investment and major technological breakthroughs. Nickel mines around the world are at risk of closure, while others are seeking state bailouts or going bankrupt.Selby, whose company is developing nickel deposits in northern Ontario, expects North American nickel demand to grow as governments and automakers push for domestic battery metal sourcing."Nickel has always been viewed as a strategic metal," Selby said in an interview."Given the current geopolitical conditions and China's control of Indonesia's resources, which makes Indonesia and China solely dependent on nickel, I don't think there are many end users and governments here that want that [nickel raw material supply from Indonesia]."Image source: BloombergSource: https://www.bloombergtechnoz.com/detail-news/29307/ada-hilirisasi-nikel-produksi-baterai-ev-ri-hanya-0-4-global/2 

PT Amman Mineral Internasional Tbk (AMMN), through its subsidiary PT Amman Mineral Industri, is targeting the copper and gold smelter commissioning in June 2024. Commissioning is the act of assessing the readiness and feasibility of mining equipment or operational testing of the smelter before it operates commercially. AMMN Vice President of Corporate Communications and Investor Relations, Kartika Octaviana, said Amman is fully committed to completing the national strategic project of the copper smelter and precious metal refining (PMR) facilities. The quarterly progress verification results for October 2023 to December 2023 of AMMAN's copper smelter construction progress have reached 76.1% of the construction plan of 72.4% (105.1%). Meanwhile, the PMR construction progress has reached 72.7% of the construction plan of 72.1% (100.7%). The company is confident that the smelter and PMR physical construction progress is going well to reach the construction completion target at the end of May 2024 and start the commissioning process in June 2024. "[This achievement] is AMMAN's commitment as one of the largest copper and gold mining companies in Indonesia to always be involved in the development of the national mining industry that benefits the regional and national economy," Kartika explained in a press release on Monday (5/2/2024).When fully operating, AMMAN's total copper smelter and PMR facility input capacity is estimated at 900,000 kilotons per annum (ktpa) of concentrate from the Batu Hijau mine and Elang project. The products of this processing will be copper cathode that reaches 222 ktpa and sulfuric acid that reaches 830 ktpa. Meanwhile, the PMR facility will produce 18 tpa of gold bars, 55 tpa of silver bars, and 70 tpa of selenium.In September last year, AMMAN signed a Preliminary Agreement with PT Pertamina (Persero) to ensure the supply of a more environmentally friendly energy source, liquified natural gas (LNG). The gas and steam power plant facilities are currently under construction to support the operations of the copper smelter and PMR facilities. On Monday (5/2/2024) at 09.47 WIB, AMMN shares fell 0.99% or 75 points to IDR 7,525. The market capitalization reached IDR 545.70 trillion with a PER valuation of 421.32 kli and a PBV of 8.18 times. Throughout 2024, AMMN shares are still up by 15.27%.Image source: Bisnis.com Source: https://market.bisnis.com/read/20240205/192/1738292/amman-mineral-ammn-targetkan-smelter-tembaga-dan-emas-pmr-comissioning-juni-2024