Far East Gold (ASX: FEG) has begun a revised scoping study for its Wonogiri copper-gold project in Indonesia’s south central Java region, as survey work continues at Woyla. The company has engaged Mining One Consultants to update former owner Augur Resources’ scoping study that was prepared in 2016.As part of this, Mining One has begun metallurgical test work on porphyry and epithermal drill core samples, and will reassess the study based on current commodity prices, and an optimal processing flow sheet. The previous scoping study was based on a 2016 gold price of US$1,350 per ounce and copper attracting US$5,500 per tonne.Far East noted Mining One had already provided it with a pit optimisation study for Wonogiri, which included a high-level open-pit and underground mining scenario for the Randu Kuning deposit.Initial metallurgical resultsThe metallurgical test work is looking at gold and copper samples of Wonogiri porphyry ore, which has head grades ranging from 0.8-1.7 grams per tonne gold and 0.11-0.21% copper. Epithermal samples are also being analysed for optimal recoveries with head grades ranging from 0.58-10g/t gold and 6-8.5g/t silver.Initial porphyry metallurgical results have achieved 35-51% gold recoveries using simple gravity. A further 83-85% of the gold in the gravity tailings can be recovered using conventional carbon-in-lead processing. To-date, overall gold recoveries ranged from 90-91%, with associated silver recoveries of around 65%.Under the test work program, Far East is investigating reducing cyanide usage and potentially regenerating cyanide to further minimise consumption.Potential to grow resourcesAugur previously developed a JORC 2012 resource for Wonogiri’s Randu Kuning deposit, which contains 1.15 million ounces of gold equivalent. This comprises 996,000oz of gold and 190 million pounds of copper.Far East noted that the potential to grow these resources is indicated by previous drilling where an extensional hole intercepted 37m at 1.77g/t gold and 0.23% copper from 458m, with mineralisation remaining open at depth.Woyla copper-gold projectIn parallel with the updated scoping study at Wonogiri, Far East is advancing its Woyla copper-gold project in Indonesia’s Aceh region. The project covers 24,260 hectares and Far East is increasing its 51% stake to 80% by completing a feasibility study and delivering a maiden JORC resource.Exploration at Woyla is underway with an induced polarisation (IP) survey crew mobilised to the project site last month. The survey is being carried out as part of a collaboration with the Indonesian Government’s Ministry of Energy and Mineral Resources.Initial survey work has been completed at the Anak Perk North section of the Anak Perak prospect, and will begin at the Anak Perak Main Zone section of the prospect later this week. Far East is anticipating survey results early next month.The rationale behind the survey is to further Far East’s understanding of the 4.7km epithermal vein system identified at the project, where rock chip sampling has uncovered up to 119g/t gold and 361g/t silver.Results from the survey along with the historical mapping, sampling and trenching will be used to pinpoint targets for the maiden drill program at Woyla.Source: https://smallcaps.com.au/far-east-gold-begins-revised-scoping-study-wonogiri-copper-gold-project/

One of the mining companies, PT Harum Energy, Tbk (HRUM) through its subsidiary, namely PT Harum Nickel Industry (HNI) has acquired 250,000 new shares of PT Westrong Metal Industry (WMI). This amount represents 20% of the total issued and paid-up capital of WMI with a purchase price of US$ 75 million on 27 April 2022.HRUM President Director Ray A Gunara explained, WMI is a limited liability company engaged in nickel refining (smelter). "WMI's smelter using  rotary klin electric furnace  (RKEF) technology is planned to be built this year along with the infrastructure in the Weda Bay Industrial Area (Indonesia Weda Bay Industrial Park) in Central Halmahera Regency," Ray explained in a Disclosure of Information to the Exchange. Indonesian Securities (IDX) on Monday (9/5).It also explained that its annual production capacity is targeted to be between 44,000-56,000 tons of nickel in the form of  ferronickel / nickel pig iron . "The purpose of the transaction carried out by the company is to further develop and expand the company's business activities into the nickel industry, which is the realization of the company's long-term business diversification strategy," said Ray A Gunara.It was emphasized in the information disclosure that there was no material impact on the taking of the shares on the operational, legal, financial condition or continuity of the company's operations.Source: https://www.tambang.co.id/harum-energy-akuisisi-20-saham-perusahaan-smelter-28721/

A mining company headquartered in Brazil announced that it has signed a long-term contract with Tesla, Inc. to supply Class 1 nickel in the United States from its operations in Canada. This agreement is in line with the company's strategy to increase exposure to the electric vehicle industry, leveraging the company's low carbon footprint and leading position as the largest nickel producer in North America.“We are delighted to have the leading electric vehicle manufacturer Tesla among our customers,” said Deshnee Naidoo, Vale Executive Vice President for Base Metals. He added, “This agreement reflects our shared commitment to sustainability and demonstrates very clearly that we are the supplier of choice for the low-carbon, high-purity nickel products that are essential for long-range batteries.”The press release explained that Vale's target is to send 30% to 40% of Class 1 nickel sales into the fast-growing electric vehicle industry.To note, Vale's Canadian operations produce some of the lowest carbon nickel globally. The 2020 round of the Long Harbor refinery in Newfoundland & Labrador has a verified carbon footprint of 4.4 tonnes CO2 equivalent per tonne nickel. Meanwhile pellets and powder from the Copper Cliff Nickel Refinery in Ontario have a verified trace equivalent of 7.3 tonnes. This includes Scope 1 and 2 emissions from mining, crushing and refining as well as upstream Scope 3 emissions from inputs.Source: https://www.tambang.co.id/vale-akan-pasok-nikel-kelas-i-untuk-tesla-inc-28723/

PT MNC Energy Investments (IATA) through its newly acquired company, PT Arthaco Prima Energy (APE) has discovered new coal reserves of up to 20.58 million metric tons (MT). Based on a report by the Indonesian Mineral Reserves Committee (KCMI), the new coal reserves have a GAR of 3,250 kg/kcal in Phase 1 drilling on an area of ​​380 hectares of the total current reserve area of ​​2,059 hectares. Meanwhile, Phase 1 coal resources reached 138.85 million MT.Using the average HBA coal price from 2000 to April 2022, APE mining activities will generate a Net Present Value (NPV) of USD 56.6 million, with an Internal Rate of Return (IRR) of 56.5%, Break Even Point (BEP) of 5.2 million MT and Payback Period of 1.87 years. "Obviously if coal prices persist as they are now, the above NPV will more than double," said Head of Investor Relations IATA, Natassha Yunita, Monday (9/5).Natassha said that the discovery of reserves and resources will continue to grow because the Phase 1 drilling carried out is only less than 20% of the APE IUP area that can be mined. Phase 2 and Phase 3 drilling are scheduled to be completed this quarter.“APE already has a Production Operation IUP with an area of ​​15,000 hectares in Musi Banyuasin, South Sumatra. The APE mine site is only 12.5 km from the river and about 108 km to the transshipment area at Tanjung Buyut port. APE is planned to start production in the fourth quarter of 2022," he said.With the addition of this KCMI report, proven coal reserves from 9 IUPs owned by IATA increased to 158.68 million from the previous 138.1 million MT. This figure does not take into account the additional reserves from the APE IUP where more than 80% of the land has not been drilled.As for the IUP of PT Indonesia Batu Prima Energi (IBPE), PT Bhumi Sriwijaya Perdana Coal – South (BSPC-S), PT Putra Mandiri Coal (PUMCO), PT Primaraya Energi (PE), PT Titan Prawira Sriwijaya (TPS), PT Sriwijaya Energi Persada (SEP), as well as PT Energi Inti Bara Pratama (EIBP), have not drilled at all.“Drilling activities will continue and reserves will continue to grow if exploration results show coal findings. Management estimates that coal reserves for all IUPs will reach a minimum of 600 million MT," he said. (RW)Source: https://www.tambang.co.id/temukan-cadangan-baru-batubara-iata-capai-2058-juta-metrik-ton-28713/

PT Bumi Resources Tbk ( BUMI ) plans to boost coal production in the second quarter of this year. Director and Corporate Secretary of PT Bumi Resources Tbk (BUMI) Dileep Srivastava said, BUMI hopes to produce more coal than the first quarter of 2022 in the second quarter of 2022. "Production in the second quarter of 2022 is expected to be higher than the first quarter of 2022 with higher prices," said Dileep to Kontan.co.id (8/5)Dileep admitted that he could not reveal how much BUMI's coal production was realized in the first quarter of this year. However, he admitted, BUMI's coal production in the first quarter of 2022 was still affected by heavy rainfall due to the La Nina effect, even though BUMI still hopes to pocket an increase in revenue in the first quarter of 2022 with the increase in existing coal prices.Until the end of next year, BUMI is aiming for a coal production target of 83 million tons - 89 million tons for the 2022 financial year. This figure is greater than the realization of BUMI's coal production which amounted to 78.8 million tons in 2021.Meanwhile, BUMI's coal sales volume reached 79 million tons in 2021, while BUMI's consolidated revenue reached US$ 5.4 billion with a net profit of US$ 489 million. With a higher production target in 2022, BUMI hopes to pocket higher revenues this year compared to 2021. Dileep is optimistic that coal prices will be at a high level in 2022 and in the following years.The driving catalyst, according to Dileep, was the widening gap between coal supply and increasing demand due to a number of factors, ranging from the global energy crisis, unaffordable gas prices, the inability of renewable energy to meet the soaring energy needs after the Covid-19 pandemic, to replace fossil fuels such as coal, and much more.“Moreover, the reluctance of institutions and banks to finance the expansion of coal production capacity expansion in line with the spirit of green energy and renewable energy is also increasingly pushing the gap between supply and demand for coal to widen. The possibility of sanctions against Russian coal also further reduces the supply of coal," added Dileep.Dileep ensured that BUMI would prioritize fulfilling PLN's coal needs in coal sales. After fulfilling the supply obligations to PLN, BUMI will focus on fulfilling export orders from existing customers.Source: https://industri.kontan.co.id/news/bumi-resources-bumi-pacu-produksi-batubara-pada-kuartal-ii-2022

PT Bumi Resources Tbk (BUMI) wrote a new record of the highest revenue in 2021, hitting USD 5.42 billion following the coal price surge. This revenue was 47% higher than the gains recorded in 2020 of USD 3.68 billion. Total revenue generated by BUMI throughout 2021 came from the sales of 79 million tons of coals mined by its two subsidiaries, PT Kaltim Prima Coal (KPC) that produced 56.9 million tons and PT Arutmin Indonesia (AI) that generated 22.2 million tons.With this massive gain in its revenue, BUMI then managed to turn the tide around, bouncing back from the net loss reported in 2020 of USD 338 million. In 2021, the net profit of BUMI reached USD 168 million. Dileep Srivastava, Director and Corporate Secretary of BUMI, confirmed that BUMI has set the 2022 coal production target to 81-89 million tons. “Backed up by the revived optimism in the sector and the coal price positive trend, Bumi Resources wishes to significantly boost its performance in 2022,” he mentioned in the press release last Friday.Source: https://www.idnfinancials.com/news/42965/bumi-revenue-record

Head of the Land Use Management and Investment Management Task Force, Bahlil Lahadalia, revoked 1,118 Mining Business Permits (IUP) for minerals and coal. This figure is effective as of April 24, 2022."On April 24 we have signed 1118 licenses that have been revoked. Of the 1,118 IUPs, the total area that has been revoked is 2,707,443 hectares," Bahlil said in a press statement, quoted Tuesday (26/4).Bahlil detailed that the 1,118 IUPs consist of 102 nickel IUPs, or the equivalent of 161,254 hectares. Then 271 coal IUPs or the equivalent of 914,136 hectares, 14 copper IUPs or the equivalent of 51,563 hectares.Furthermore, 50 IUP bauxite or equivalent to 311,294 hectares, 237 IUP tin or equivalent to 374,031 hectares. Then there are 59 gold IUPs or the equivalent of 529,869 hectares and 385 other mineral IUPs or the equivalent of 365,296 hectares."Why is this permit revoked? because the government based on existing data, it is indicated that these IUPs were given to entrepreneurs but were not used properly. For example, this IUP is used for pawning at the bank, this is not allowed," he said.Another case that often occurs in the field, said Bahlil, is that companies often trade IUPs. There are also companies that use IUP as collateral in the financial market without being properly implemented."This is the background. Because we hope that with this permit, we can refer to the process of accelerating economic growth, increasing downstreaming, and at the same time creating added value in new economic growth areas throughout the Republic of Indonesia," he explained.Another reason that according to Bahlil many entrepreneurs do is that they already have an IUP but do not apply for a Borrow-to-Use Forest Area Permit (IPPKH) from the Ministry of Environment and Forestry. He said, the revocation also applies to companies whose IUPs exist, IPPKHs exist but do not complete the Work Plan and Budget (RKAB).“There is an IUP but it doesn't take care of IPPKH, so it's been a long time coming, from 6 years 7 years to some even decades. The IUP has IPPKH, but it doesn't take care of the RKAB," he explained."Well, this is because there are certain intentions to sell, what do you want? Third, the IUP is there, the IPPKH is there, the RKAB is there but it doesn't work. This is usually a financial shortfall,” he added.For information, the data on the revocation of IUPs, which reached 1,118, is part of the revocation of 2,078 IUPs launched by President Joko Widodo in early January. In other words, the progress of the revocation has only reached 53.8 percent of the target.Source: https://www.tambang.co.id/terkini-menteri-bahlil-cabut-1-118-iup-mineral-dan-batubara-28565/

PT BUMI Resources Tbk (BUMI) won the prestigious 'Green Elite' award for reducing corporate emissions and Gold Plus for transparency in emission calculations in the 2022 Corporate Emissions event. The award was given on Friday, 22 April 2022 in Jakarta. 2022 Corporate Emissions is a reward for companies that are divided into five groups. Namely, groups of issuers of banking, issuers of non-banking, state-owned banking, non-banking SOEs, and companies not including issuers or state-owned enterprises.Awards are given in eight titles, namely Platinum Plus, Platinum, Gold Plus, Gold, Silver Plus, Silver for companies that carry out transparency in disclosing emissions calculations. As well as Green Elite and Green titles for companies that reveal the emission reductions they achieved in 2020. The assessment of the 2022 Corporate Emissions award is based on the company's 2020 sustainability performance (Sustainability Report 2020) which is submitted through a sustainability report published in 2021 and available on the official website of each company.Then, assurance for the emission calculation is also a criterion to be considered in the assessment. Getting an award related to emissions is a form of achieving the company's environmental performance. This is expected to provide motivation for performance improvement and a tangible form of company support for achieving national and international emission reduction targets.Adika Nuraga Bakrie, Deputy President Director of BUMI is pleased with the 2022 Corporate Emissions award. He said, BUMI will continue to innovate and support government programs in realizing the Net Zero Emission (NZE) commitment by 2060 and the implementation of the Sustainable Development Goals (SDGs) program. This has become the main activity or core competence of the business."This award spurs us to do even better in the future, to have a positive impact on the community around the mine, comply with environmental regulations, conservation and efficiency in the use of natural resources (water and energy) and continue to conserve biodiversity," said Adika in a statement. written statement, Monday (25/4).Read more: https://industri.kontan.co.id/news/bumi-resources-raih-penghargaan-penurunan-emisi-korporasi

Japan’s Sumitomo Metal Mining Co (SMM) said on Monday it has decided to discontinue a long-running feasibility study on an Indonesian nickel processing plant project because of a disagreement with its partner PT Vale Indonesia. The Japanese miner and smelter had been working on the study since 2012 and had expected the project in Pomalaa, Indonesia to help it boost its nickel output to 150,000 tonnes a year, up from about 81,000 tonnes.A spokesperson for SMM said PT Vale had decided to find another partner and there had been some differences between SMM and PT Vale about construction scheduling and costs. “We have made the decision as PT Vale had begun to consider moving forward with the project with another company and as we had not been able to continue negotiations with PT Vale,” an SMM spokesperson said. The spokesperson declined to give details on PT Vale’s new partner.“PT Vale Indonesia remains committed to the development of Pomalaa and we will issue a press release regarding the project within this week,” Bernadus Irmanto, the company’s chief finance officer, told Reuters on Tuesday, declining to give further details. “SMM has concluded that it has no choice but to discontinue the study since it is difficult to maintain its internal and external project study team with no prospect for future progress,” the company said in a statement.The feasibility study was also taking a long time as the covid-19 pandemic has delayed procedures to obtain permits and discussions with PT Vale, the spokesperson added. In February, SMM President Akira Nozaki said his company wanted to make an investment decision on the Pomalaa project “as early as possible,” and that the project aimed to start production in the late-2020s with a capacity of about 40,000 tonnes of mixed sulphide nickel a year. “We will keep our long-term goal of nickel output and continue to make efforts to secure stable supply of natural resources,” the spokesperson said.Source: https://www.mining.com/web/sumitomo-abandons-pomalaa-nickel-project-in-indonesia/

Indonesia has the potential for a new world-class gold and copper mine located in Onto, Hu'u District, Dompu Regency, West Nusa Tenggara . This potential was revealed based on the results of research conducted by a mining company, PT Sumbawa Timur Mining . In a press conference that was held virtually on Thursday (21/4/2022), PT Sumbawa Timur Mining (STM) President Director Bede Evans explained that Onto's potential gold source in West Nusa Tenggara is 1.1 billion tons, consisting of copper , gold, Inferred mineral resources and others. The estimated potential for mineral resources has increased by 20 percent or 0.4 billion tons from the research results announced in December 2019.It was stated that Onto's mineral resource potential was part of the Hu'u project owned by STM, the holder of the 7th generation contract of work signed by the Indonesian government on February 19, 1998. Meanwhile, Vale SA is the majority shareholder of STM through Esatern Star Resources Pty Ltd. 80 percent and PT Antam Tbk 20 percent. "This latest estimate of mineral resource potential reinforces our belief that Onto's mineral resource has the potential to be developed into a world-class copper mining operation," Evans explained. Evans explained that the estimated mineral resource potential was the result of drilling 74 holes with a total depth of 74,130 meters. It is planned that drilling will resume in 2022 to support further studies to determine the size, area and characteristics of Onto's mineral resource potential. In addition, this follow-up drilling is also to provide more complete data for use in various engineering studies of the Hu'u Project. To date, in total, STM has completed 108 drill holes (total depth of 115,591 meters) within the KK return (at Onto and other prospects) since exploration began in 2010 When asked by Kompas.com about the potential revenue generated by STM as well as its contribution to the Indonesian government, Evans said that until now it has not been confirmed. "Currently we are conducting various engineering studies , it seems that we cannot project the revenue. Because it is still too far away. Production will only start in 2023-2025," said Evans.Evans said that although he was happy with the potential of this mineral resource, his party still had homework to do, such as studying various technical, environmental, social and financial factors that were part of the feasibility study that was currently being carried out. "Primarily, we hope that the ongoing feasibility study phase will determine which mining operation is technically and economically feasible, and that STM can develop it further," said Evans.Source: https://www.kompas.com/wiken/read/2022/04/23/044900481/indonesia-punya-potensi-tambang-emas-tembaga-kelas-dunia-di-onto-ntb