Indonesia Miner Conference & Exhibition 2026

Baru Gold progresses toward production in Indonesia with gold loan financing negotiations

01 May 2023, 12:00 PM 4641

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

Bayan Resources (BYAN) Prepares Capex up to USD 250 Million for 2023

30 Apr 2023, 12:00 PM 6385

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

Indonesia to allow Freeport, Amman Mineral to ship copper concentrate until 2024

29 Apr 2023, 12:00 PM 6608

 Indonesia will allow miners Freeport Indonesia and Amman Mineral Nusa Tenggara to continue exporting copper concentrate until next year, despite a ban starting this June, to allow for their smelters to be completed, the mining minister said on Friday. The government is due to ban exports of raw minerals like copper and bauxite from June as part of efforts to attract investment into its metals processing industry and boost the value of its exports. Delays to copper smelter construction caused by the pandemic prompted the government to temporarily exempt some firms from the ban, minister Arifin Tasrif told reporters."We are pushing so these smelters development can be concluded as soon as possible," he said, adding that they are expected to be completed in May next year. He said Freeport and Amman will therefore be allowed to export until May 2024. The ministry will issue a regulation detailing requirements for the export leniency for copper. Arifin said both smelters are currently at around 60% completion.Freeport Indonesia spokesperson Katri Krisnati said the company has not received an official notice regarding the export policy, adding that the company appreciates support from the government to help ensure its operational and investment continuity. Amman Mineral did not respond to a Reuters request for comment.FREEPORT PERMIT EXTENSIONArifin said the government and Freeport have also started discussing extending the company's permit to continue operating the Grasberg mine in Papua. Freeport's current permit will expire in 2041. While it will likely allow the extension, the government may want to increase its stake in the company, investment minister Bahlil Lahadalia told reporters at a separate briefing.Through a state company, Indonesia currently controls 51% of the Indonesian unit of U.S. mining giant Freeport-McMoRan, and the government wants to expand that by around 10%, he said. Asked about the government's wish for a larger stake in Freeport Indonesia, the company said it remained committed to following the government's directives and policies.Freeport is building a $3 billion copper smelter in East Java to process 1.7 million tonnes copper concentrate, while Amman's smelter in West Nusa Tenggara will have an input capacity of 900,000 tonnes. Asked about the bauxite export ban, Arifin suggested there could be no leniency for bauxite, the most common raw material used in the production of aluminium. The country banned exports of nickel in 2020 and has since attracted huge investment into nickel processing, much of it from China.Source: https://www.reuters.com/markets/commodities/indonesia-allow-freeport-amman-mineral-ship-copper-concentrate-2024-2023-04-28/

MIND ID Adds IDR 8.85 Trillion Capital to PT TIMAH (TINS)

29 Apr 2023, 12:00 PM 5845

The BUMN mining holding, PT Mineral Industri Indonesia (Persero) or MIND ID, recently injected capital into PT Timah (Persero) Tbk (TINS) through a share investment. Based on the disclosure of information on the Indonesia Stock Exchange (IDX), the share investment transaction by MIND ID in TINS took place on March 21, 2023. MIND ID bought 4,841,053,951 Series B shares of the tin producer previously owned by PT Indonesia Asahan Aluminum (Persero) at a price of Rp 1,828.57 per share. Thus, the transaction value of the investment in shares by MIND ID reached IDR 8.85 trillion.The composition of TINS shareholders has also changed. Prior to March 21, 2023, 65% of TINS shares or the equivalent of 4.84 million shares were held by Inalum while the remaining 35% or the equivalent of 2.61 million shares were held by the community or the public. After March 21, 2023, MIND ID officially controls 65% of TINS shares, while the rest is still owned by the public. "The Government of the Republic of Indonesia has included capital in the form of equity participation in PT Mineral Industri Indonesia, a State-Owned Enterprise whose aim is to function as a strategic holding company for mining-related businesses," wrote MIND ID Main Director Hendi Prio Santoso. in the disclosure of information, Tuesday (28/3).In previous news, MIND ID is undergoing a transformation and splitting off after previously being named Inalum. Since 2017, MIND ID has carried out two corporate functions, namely as a holding and aluminum smelting operation. With this transformation, MIND ID will focus more on strategic holding companies. In this case, MIND ID focuses on increasing the effectiveness of strategic activities and focuses on efficiency and increasing added value between holding members, managing risk management, supervising the operational activities of holding members, and so on. Meanwhile, TINS as a member of MIND ID experienced a 14.29% year on year (YoY) revenue decline to IDR 12.5 trillion in 2022. TINS's net profit also eroded 20% YoY to IDR 1.04 trillion.Source:https://industri.kontan.co.id/news/mind-id-tambah-modal-untuk-timah-tins-sebanyak-rp-885-triliun

Heavy Equipment Production Increases, Coal Mining Sector is Still a Support

27 Apr 2023, 12:00 PM 6221

National heavy equipment production based on data from the Indonesian Heavy Equipment Industry Association (Hinabi) rose 2.98% to 2,176 units in the first three months of this year. Chairman Hinabi Jamalludin stated that heavy equipment production in 2023 will still experience an increase in demand, especially in the mining sector."Mining is still showing positive demand so the increase is quite significant," he explained to Kontan.co.id, Thursday (27/4). Jamalludin revealed that the demand for heavy equipment from the mining sector came from coal and other minerals. However, coal still dominates so that it can be said to support the increase in national heavy equipment production earlier this year.The increase in demand caused the production of dump truck type heavy equipment in the first quarter of 2023 to increase by 73.84% on an annual basis to 113 units from the previous 65 units in the first quarter of 2022. The increase in production was also experienced by heavy equipment type hydraulic excavator by 1.1% to 1,834 units. The production of heavy equipment still dominates or 84.28% of the total production during January-March 2023. Motor grader production at the beginning of this year was 31 units or higher compared to the same period last year of 29 units.However, specifically for bulldozers, there were 198 units, down 3.4% on an annual basis from the previous 205 units. At the beginning of this year, Jamalludin said that the supply of materials that had been hampered in 2022 would start arriving in early 2023. Thus, heavy equipment production was quite booming in the first three months of this year."Although demand is still quite high, business actors must still be aware of a decline, domestic demand is still good, but from abroad it is corrected," he said. Throughout this year, Hinabi targets national production of heavy equipment to reach 10,000 units or equal to the total installed factory capacity.Source: https://industri.kontan.co.id/news/produksi-alat-berat-naik-sektor-pertambangan-batubara-masih-jadi-penopang

Intraco Penta (INTA) Revenue of IDR 251.58 Billion Q1 of 2023

27 Apr 2023, 12:00 PM 5295

PT Intraco Penta Tbk (INTA) recorded operating revenues of IDR 251.58 billion by the end of the first quarter of 2023. This number increased by 49.33% on an annual basis or year on year (YoY) compared to INTA's operating income in the first quarter of 2022 of IDR 168.47 billion.Based on financial reports on the Indonesia Stock Exchange (IDX), INTA's business revenue in the first quarter of 2023 was dominated by sales of heavy equipment and spare parts, amounting to Rp 221.51 billion. INTA also has operating revenues from the rental and repair services segment of Rp 28.35 billion and manufacturing of Rp 1.72 billion.At the same time, INTA's cost of revenue rose 47.27% YoY to IDR 196.22 billion in the first quarter of 2023. Whereas in the same period the previous year, INTA's cost of revenue was recorded at IDR 133.24 billion. INTA's selling expenses also increased 9.57% YoY to IDR 16.94 billion in the first quarter of 2023, compared to selling expenses in the first quarter of 2022 of IDR 15.46 billion.On the other hand, INTA's general and administrative expenses fell 26.69% YoY from IDR 15.46 billion in the first quarter of 2022 to IDR 14.53 billion in the first quarter of 2023. In three quarters of money, INTA's financial expenses were also cut by 34.20% YoY from IDR 32.69 billion in the first quarter of 2022 to IDR 21.51 billion in the first quarter of 2023. INTA managed to record a net profit for the period attributable to owners of the parent entity of IDR 6.96 billion in the first quarter of 2023. In fact, in the first quarter of 2022 the company suffered a net loss of IDR 25.09 billion.Until the end of the first quarter of 2023, INTA's total assets reached IDR 2.22 trillion, an increase of 1.37% compared to the company's total assets at the end of 2022 of IDR 2.19 trillion. INTA has total liabilities of IDR 4.08 trillion at the end of the first quarter of 2023. On the other hand, this issuer is still experiencing a capital deficiency of IDR 1.86 trillion.Source: https://industri.kontan.co.id/news/intraco-penta-inta-raup-pendapatan-usaha-rp-25158-miliar-pada-kuartal-i-2023

Nickel Industries commences commercial sales at Oracle Nickel

24 Apr 2023, 12:00 PM 5442

As of the end of March, the project, which is located within the Indonesia Morowali Industrial Park in Central Sulawesi, had produced 5,953 tonnes of nickel metal with all four RKEF lines now commissioned. The remaining stockpiles of NPI will be progressively sold across the June quarter.“Having stockpiled NPI from [Oracle Nickel] since late January we are delighted to have now received this Industrial Business Licence and to have commenced selling NPI,” said Managing Director Justin Werner.“Our first sales from [Oracle Nickel] mark another important milestone for the project and we now look forward to seeing production continue to ramp-up in the months ahead and for [it] to become a material contributor to the company’s RKEF operations.” Separately, the company said that construction of Oracle Nickel’s designated 380-MW power plant is progressing well and is scheduled to commence commissioning in the current quarter after which time production is expected to rapidly increase to over 130% of nameplate capacity.The Oracle Nickel project is a joint collaboration with Shanghai Decent, Nickel Industries’ largest shareholder. Nickel Industries currently owns 70% of the project and signed an agreement earlier this year to acquire an additional 10% interest for US$75 million.Source: https://www.asiaminer.com/news/latest-news/11306-nickel-industries-commences-commercial-sales-at-oracle-nickel.html#.ZEuOKS8RpQJ

Merdeka Battery Soars 15% on Debut as Investors Drawn to Indonesia's EV Push

18 Apr 2023, 12:00 PM 5153

Indonesian nickel company Merdeka Battery Materials surged as much as 15.1% in its trading debut on Tuesday after raising 8.75 trillion rupiah ($591.82 million) in the country's third largest initial public offering this year. The positive debut signals investors' growing appetite for Indonesia's nickel processing sector, which is part of the electric vehicle (EV) supply chain. Southeast Asia's largest economy has been stepping up its efforts to become a major player in the global EV supply chain by tapping its nickel reserves, which are the largest in the world. Merdeka Battery opened at 805 rupiah on the Indonesian stock exchange, compared with its IPO price of 795 rupiah. The shares later jumped to 915 rupiah, before steadying at 900 rupiah. The local benchmark stock index rose 0.47%. Merdeka Battery's peer, Trimegah Bangun Persada, also known as Harita Nickel, debuted on the local stock exchange last Wednesday with a positive showing after raising 10 trillion rupiah. The stock has climbed 14% versus its IPO price of 1,250 rupiah since its market debut. "The big interest in this IPO signals that investors are very optimistic about the prospects of nickel downstreaming and development of EV battery business that will be done by MBM," Merdeka Battery's CEO Devin Ridwan said at the market debut ceremony in Jakarta, referring to Merdeka Battery as MBM. Merdeka Battery, a unit of Merdeka Copper Gold, priced its IPO at the top range of between 780 rupiah and 795 rupiah a share earlier this month following strong interest from sovereign wealth funds, insurance firms and long-only local and overseas investors. It plans to use the IPO proceeds for loan repayment, working capital and capital expenditure, according to the IPO prospectus. UBS and Macquarie are the joint global coordinators of the IPO, and are joint bookrunners along with Bank of America N and HSBC. The domestic underwriters are Indo Premier Sekuritas and Trimegah Sekuritas Indonesia.Source: https://english.kontan.co.id/news/merdeka-battery-soars-15-on-debut-as-investors-drawn-to-indonesias-ev-push

Kaltara Power achieves additional IDR 235,77 billion capital

18 Apr 2023, 12:00 PM 7194

PT Kaltara Power Indonesia (KPI) received Rp 235.77 billion in capital from PT Cita Mineralindo Tbk (CITA) via the issuance of 16,260 shares by KPI. Yusak Lumban Pardede, Director of CITA, said that the issuance of the shares had been approved by KPI shareholders. With the smooth running of the plan, the number of shares issued by KPI was 249,710 shares valued at IDR 3.62 trillion.The KPI shareholder structure following the corporate action is PT Adaro Power (AP) 209,755 shares (Rp 3.04 trillion), CITA 39,954 shares (Rp 579.33 billion), and 1 KPI share. Funds obtained by KPI were used to build, operate and maintain a power plant in Kalimantan Industrial Park Indonesia, Bulungan, North Kalimantan. (LK)Source: https://www.idnfinancials.com/id/news/46681/kaltara-power-raih-tambahan-modal

Austin Engineering delivers Indonesia-made truck trays into Pilbara region

18 Apr 2023, 12:00 PM 5352

Austin Engineering Limited has completed the first shipment of fully built and assembled truck trays from its Indonesia facility in Batam, which have been delivered directly into Western Australia’s Pilbara mining region.The delivery comprised four truck trays that were shipped from Indonesia via Singapore into Port Hedland and then onto the customer site.Austin recently completed a major expansion and upgrade of its Indonesian facility, which has doubled its manufacturing capacity to address increased demand.The larger Indonesian facility is allowing Austin, it says, to mitigate the impact of ongoing supply constraints in Western Australia, particularly for skilled fabrication labour, which has been a limiting factor for production.Alleviating these supply constraints has enabled the company’s local Western Australian facility to maintain more even operational output in line with local labour availability while ensuring Austin’s customers continue to have access to products, it said.A return of freight costs to pre-pandemic levels has also enabled Austin to augment the shipping of sub-assemblies into Perth for final build (which has been standard practice for some time) with the delivery of full truck trays direct to the Pilbara.Austin said: “The ability to ship directly from Indonesia to Port Hedland has the added benefit of removing the need for road haulage from Perth to client mine sites in the Pilbara. A reduction in overall transport and logistic requirements has safety, environmental and cost benefits. Specifically, a reduction in road haulage is favourable from a road safety and emissions reduction perspective.”Further direct deliveries into the Pilbara are being planned with customers to augment Austin’s Australia-based supply, it said.Austin CEO and Managing Director, David Singleton, said: “We are extremely pleased to see our design and manufacturing strategy starting to work in sync in the Asia Pacific region. The expanded facilities in Perth and Indonesia are allowing more flexibility from a manufacturing and delivery point of view. We have previously shipped truck trays, buckets and other mining equipment directly into Queensland, but it is the first shipment we’ve completed direct to the major mining centre of the Pilbara, and we expect this supply route to become a regular feature of our integrated supply chain.“We remain committed to Australia as a manufacturing location, exemplified by our two factory units in Kewdale, Perth along with our two operating sites in Queensland. In addition, the majority of the steel we used in Australia and Indonesia is sourced from Australia.“Source: https://im-mining.com/2023/04/18/austin-engineering-delivers-indonesia-made-truck-trays-into-pilbara-region/

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