PT RMK Energy Tbk (RMKE) recorded a net profit of IDR 308.9 billion throughout 2023. In line with that, the company pocketed operating revenue of IDR 2.6 trillion, or slightly down by 6.6% year on year, achieving the company's adjusted target of 100%.On the other hand, profit was also affected by the negative impact of RMKE's operational closure over the past three months, which could be minimized by revenue growth from the services segment of 24.0% year on year to IDR 769.5 billion."However, the coal sales segment experienced a considerable impact because in addition to the normalization of coal prices, it was also affected by lower coal production due to bad weather in the first semester, as well as operational constraints faced by the company in the second semester," said RMKE President Director Vincent Saputra during a press conference at Wisma RMK Jakarta on Thursday (18/4/2024).Meanwhile, this condition resulted in operating income from the coal sales segment decreasing by 15.6% year-on-year to IDR 1.8 trillion. In total, operating income was not significantly affected because it was supported by operational performance that could be maintained and accelerated at the end of 2023.The company's barge load volume was 7.6 million metric tons of coal, a slight decrease of 3.2% and coal sales volume was 2.4 million metric tons of coal, a slight decrease of 5.4% compared to the same period last year.In addition, RMKE increased its equity by 23.1% year on year to IDR 1.5 trillion and managed its financial ratios well and following the credit terms set by its lenders, DER of 0.52 times.RMKE's financial debt increased by 133.8% year-on-year to IDR 507.8 billion to fund the company's working capital. Until the end of 2023, RMKE managed to maintain positive cash from operating activities of IDR 187.4 billion.Vincent said that the target to be achieved in 2023 is to maintain positive performance by minimizing the negative impact of operational constraints faced by RMKE in the second semester."Overall, RMKE is still performing very well despite the challenges of extreme weather, normalization of coal prices, and operational constraints," Vincent said."In 2024, the Management is more optimistic with the completion of operational constraints by fulfilling administrative sanctions to the regulator and RMKE is ready to focus on operational activities going forward," Vincent said. Image source:  IDX Channel / MNC MediaSource: https://www.idxchannel.com/market-news/rmk-energy-rmke-kantongi-laba-rp3089-miliar-di-2023  

PT Aneka Tambang Tbk (ANTM) will improve all core commodities production and sales performance this year. The company is optimistic that the trend of gold demand in Indonesia will increase again in 2024, followed by other commodities."ANTAM focuses on a customer-based development strategy in the country, especially in nickel ore and bauxite products. ANTAM also remains optimistic that the trend of gold demand in Indonesia will increase again in 2024 and will tend to stabilize for the next few years," said Nicolas D. Kanter, President Director of ANTM in ANTM's 2023 annual report, quoted on Thursday (18/04).He added that ANTAM is committed to keep developing strategic projects to support minerals downstream and focus on implementing a sustainable business.In ferronickel products, ANTAM targets production and sales volumes of 22,464 TNi each. The ferronickel production target grew 5% from the 2023 ferronickel production achievement of 21,473 TNi, while the ferronickel sales target grew 12% from the 2023 ferronickel sales achievement of 20,138 TNi."ANTAM has taken into account the utilization rate and operating stability of ANTAM's ferronickel plant in Kolaka, Southeast Sulawesi in setting ferronickel production and sales targets," he said.In 2024, ANTAM targets total nickel ore production used as raw material for ANTAM's ferronickel plant and sales to domestic customers of 20.58 million wmt, growing 53% from the 2023 nickel ore production of 13.45 million wmt.Nickel ore sales are targeted to reach 18.75 million wmt or grow 60% from the 2023 nickel ore sales of 11.71 million wmt in 2024.In the precious metals segment, ANTAM will continue to innovate precious metal products and sales services in 2024. ANTAM targets gold production in 2024 from the Pongkor gold mine to be 958 kg (30,800 troy oz).Meanwhile, gold sales in 2024 are targeted to reach 37,354 kg (1,200,959 troy oz), an increase of 43% from the 2023 gold sales achievement of 26,129 kg (840,067 troy oz). In addition, the production and sales target for silver metal is planned at 5,668 kg (182,230 troy oz).In the bauxite and alumina segment, along with the stipulation of the bauxite ore export ban that took effect in 2023, ANTAM will focus on developing bauxite ore sales in the domestic market.For the bauxite ore commodity, the company targets a production volume in 2024 of 3.47 million wmt per the level of bauxite demand for the Tayan Chemical Grade Alumina (CGA) plant and projected sales of bauxite ore to third-party customers.This production target grew by 72% compared to the 2023 bauxite production of 2.01 million wmt.Regarding bauxite ore sales, ANTAM targets a sales level of 3.05 million wmt, a significant increase of 103% compared to 2023 bauxite sales of 1.50 million wmt."Overall, the operational targets set by the company in 2024 are dynamic and open to adjusting to the level of market absorption and commodity prices in the domestic and global markets," Nicolas said. Image source: KONTAN / Doc. ANTAMSource: https://industri.kontan.co.id/news/aneka-tambang-antm-siap-genjot-produksi-pada-tahun-ini 

PT Harum Energy Tbk (HRUM) has entered into a strategic partnership to develop its nickel portfolio as part of its business diversification strategy. The company has signed a memorandum of understanding with a Chinese company, Eternal Tsingshan Group Limited (ET) as a strategic partner. The signing was carried out on April 5, 2024.Quoting the disclosure of information from the Indonesia Stock Exchange (IDX), most of HRUM's nickel business portfolio is under controlled companies, namely PT Harum Nickel Perkasa (HNP) and PT Tanito Harum Nickel (THN), which include majority ownership in PT Position, PT Infei Metal Industry, PT Westrong Metal Industry, PT Blue Sparking Energy, and minority ownership in PT Sunny Metal Industry.ET is a company incorporated in Hong Kong SAR and, through its affiliates, has invested extensively in Indonesia, primarily in nickel processing and refining activities (Mitra Group). The Mitra Group is also the operating partner of the company's smelter project and the manager of the Weda Bay Industrial Estate in North Maluku Province, where the projects are located.To realize the strategic partnership, the company's subsidiaries, HNP and THN, intend to initially issue mandatory convertible debentures (SUWK) which will be subscribed by the strategic partner either directly or through one or more companies to be determined later.The SUWK will be converted into new shares in HNP and THN representing an effective shareholding of up to 49% in the Company's Nickel Portfolio, whereby the terms including the principal amount, maturity date, and conversion period of the SUWK will be agreed upon by the parties, subject to applicable regulations.Following the conversion of the SUWK, the Company remains the effective majority shareholder in the Company's Nickel Portfolio.“The company and its subsidiaries will use the proceeds obtained from taking part in the SUWK to settle some of the obligations relating to some assets acquisition in the Company's Nickel Portfolio," wrote the company management on Thursday (18/4).Both parties will then prepare the documentation and all requirements to realize the strategic cooperation and the issuance of the SUWK following applicable regulations."The Company and Strategic Partner are targeting that the SUWK can be issued in the third quarter of 2024," he said.The strategic cooperation planned in the memorandum of understanding is expected to bring benefits and create various business opportunities for the company, including obtaining synergies from the combined experience and capabilities of the company and partner groups in the mining and processing of nickel products to maximize the efficiency and operational performance of the company's nickel portfolio going forward.More benefits for the company would be to ensure the sustainability of the management and operation of projects in the company's nickel portfolio through strategic cooperation between the company and the partner group.In addition, to improve the capital structure of the company's nickel portfolio through a decrease in the ratio of liabilities to equity after the SUWK conversion implementation. Then, forming an integrated nickel industry portfolio from upstream to downstream with diverse nickel products, to increase the Company's ability to raise funds to finance further business development.Furthermore, the benefits are to support technology transfer efforts in the nickel refining and processing industry, support knowledge transfer efforts in marketing activities, and access to the supply chain of the stainless steel and battery industry in the global market.The company believes that the signing of the memorandum of understanding has no material negative impact on the operational, legal, financial, or business continuity."There is no affiliation between ET and the company, HNP and THN. Apart from the memorandum of understanding signed by the company and ET, there are no other definitive documents signed in connection with the strategic cooperation, therefore there have been no transactions carried out by the Company or companies controlled by the company as a realization of strategic cooperation," he concluded.Image source: doc. Harum EnergySource: https://www.cnbcindonesia.com/market/20240418094043-17-531223/gandeng-raksasa-china-harum-energy--hrum--genjot-bisnis-nikel 

Nickel prices hit a seven-month high on Friday, driven by market talk of Chinese plans to buy the metal for state stockpiles and worries about tighter supplies from top exporter Indonesia.Three-month nickel CMNI3 on the London Metal Exchange (LME) was up 3.7% at USD 19,250 a metric ton at y 1358 GMT. The metal, used in stainless steel and electric vehicle batteries, hit USD 19,440 earlier, which is its highest since September.Nickel was boosted by market talk that China’s stockpiler, the National Food and Strategic Reserves Administration, was planning to buy nickel pig iron (NPI), the main feedstock for stainless steel as industry sources said.One nickel industry source said they had heard China’s stockpiler was seeking 200,000 tons of NPI. The source, who asked not to be named, said it was not known how much China would pay or which firms would provide the nickel.However, two other industry sources said the number was significantly lower and put the amount China was seeking at 20,000 tons of NPI. NPI contains about 10% of nickel on average.The National Food and Strategic Reserves Administration did not immediately respond to a request for comment.Meanwhile, Indonesia, the world’s biggest nickel producer and a major supplier to China, is still reviewing applications for mining quota approvals and is yet to issue the permits in full.“Ore supplies are incredibly tight in Indonesia. That is again constricting production,” the first source said.Every week, nickel prices were heading for an 8% increase, their biggest weekly gain in ten months, due to upbeat sentiment towards base metals MET/L and supply concerns after Washington and London decided to prohibit the LME and CME from accepting newly-made Russian nickel, aluminum, and copper.Image source: doc. CME GroupSource: https://www.hellenicshippingnews.com/nickel-price-hits-seven-month-high-on-talk-of-chinese-government-buying/ 

Officials from the State-Owned Enterprises (SOEs) Ministry visited PT Timah in Bangka Belitung Islands province to ensure the smooth running of business processes in the state tin mining company."Our visit is to learn about the company's business, performance, and strategic steps, as well as the challenges faced in running business," said Muhammad Khoerur Roziqin, Assistant Deputy for Mineral and Coal Industry in a written statement on Saturday.He urged Timah to stay focused on its operations so that it can make an optimal contribution to the nation.Meanwhile, Akhmad Fazri, the finance director at the state mining industry holding company MIND ID, said that his company wants Timah to return to its former glory and current market dynamics."Given these dynamics, MIND ID and the SOEs Ministry want to see PT Timah recover with the government's regulatory support. Now, tin has been listed as a strategic mineral. This is to secure the mining business with the regulation," Fazri said.He expressed the hope that Timah's transformation can bring tin back to its golden days.Timah President Director Ahmad Dani Virsal spoke about the company's business processes, performance, global tin business map, Indonesian tin ecosystem, and the strategic issues faced.He also outlined proposals for improving tin governance."Indonesia is one of the world's tin producers, but there are many dynamics that have occurred in this tin mining business since a long time ago," he said.He also praised the government, which has supported the improvement of tin governance and industry in the country. Image source: ANTARA / HO-Humas PT Timah TbkSource: https://en.antaranews.com/news/311304/soes-ministry-visits-timah-eyes-smooth-tin-mining-operations 

Coal prices crept up again on Tuesday (26/3). The price increase is the result of increased demand as well as imports from China.Quoting Trading Economics, coal prices crawled up 2.06% to USD 136.50 per ton on Tuesday (16/4) at 16:30 WIB. In a week, coal prices have climbed 6.47%.Commodity observer and Founder of Traderindo.com, Wahyu Tribowo Laksono said, the increase in coal prices is still quite reasonable. The trigger is the increasing demand from coal-fired power plants in China and the surge in demand from India.Wahyu said that China's imports of all types of coal from the cross-sea market reached 97.43 million metric tons in the first quarter of 2024, up 16.9% from 83.36 million tons in the same period in 2023.China began implementing a surge in coal-fired power plant licenses in line with a wave of electricity shortages in 2021.Wahyu also estimates that coal prices will trade in the range of USD 100-USD 150 per ton at the end of the first quarter of 2024. Meanwhile, in the second quarter of 2024, coal prices will move at USD 80-USD 200 per ton.Meanwhile, Commodity and Currency Analyst Lukman Leong said, the increase in coal prices was also supported by high crude oil prices and concerns about the escalation of wars in the Middle East.If the war intensifies, the price of crude oil could reach USD 100 per barrel. "This will help hoist coal prices to the level of USD 150-USD 160 per ton," Lukman told KONTAN on Tuesday (16/4).However, Lukman said, if the war or geopolitical conditions are not intensive, then the strong US dollar, resulting from the reduced prospect of interest rate cuts by the Fed, will again pressure coal prices to the level of USD 120 per ton.With that assumption, coal prices at the end of 2024 could be at the level of USD 130-USD 140 per ton. Image source: ANTARA / Syifa YulinnasSource: https://investasi.kontan.co.id/news/laju-harga-batubara-tak-terbendung-di-tengah-menguatnya-permintaan 

PT Royaltama Mulia Kontraktorindo Tbk (RMKO) recorded an increase in operating revenue of 47.4% Year-on-Year (YoY), reaching IDR 272.4 billion. The revenue came from the mining services segment which accounted for 52.2% of total income, followed by rental and construction with respective contributions of 23.3% and 24.5%.RMKO President Director Vincent Putra said that until the end of the 2023 period, on average, the company has achieved 102.5% of the target, which has been adjusted in the second semester due to operational obstacles that occurred in the third quarter of 2023.In addition, RMKO also recorded an EBITDA growth of 64.0% YoY to IDR 76.1 billion. The company's net profit in the fourth quarter of 2023 increased sharply by 193.4% YoY to IDR 18.1 billion, bringing the net profit for the year to IDR 19.8 billion.In terms of capital, the company increased its capital by 111.3% YoY to IDR 246.3 billion. However, liabilities also increased drastically by 151.8% YoY to IDR 535.2 billion, mainly due to an increase in financial debt which reached 284.0% YoY to IDR 259.9 billion for investment and working capital purposes.Vincent added that along with these investment activities, the company's assets also increased by 131.4% YoY to IDR 535.2 billion.In 2023, RMKO faced operational bottlenecks as its main client, RMKE's in-house mine, was affected by administrative sanctions from the regulator. Nevertheless, RMKO managed to optimize its financial performance at the end of the year by working on a new business segment, namely the construction of hauling road mining support facilities."In the short remaining time, RMKO managed to optimize financial performance at the end of 2023 supported by a new business segment, namely the construction of hauling road mining support facilities," said Vincent Saputra.Nathania Pricilla Saputra, Finance Director of RMKO, highlighted the impact of operational constraints on the mining segment in 2023. "However, we are grateful that we can still maintain our financial performance in this investment phase with the rental and construction segments supporting our financial performance in 2023," she said.In 2024, RMKO plans to collaborate with potential mines in South Sumatra and surrounding areas to increase the volume of mining services and the performance of the rental and construction segment. Image source: Bisnis.com / Artha AdventySource: https://market.bisnis.com/read/20240419/192/1758673/pendapatan-royaltama-mulia-rmko-naik-47-ke-rp2724-miliar 

Gold mining company, PT J Resources Asia Pasifik Tbk (PSAB) found a new gold prospect in the working area of its subsidiary, PT J Resources Bolaang Mongondow (JRBM).President Director of PSAB, Edi Permadi said, this finding is from a review of regional data and initial field exploration results within the JRBM Contract of Work area for 2023.He explained that the finding is quite promising and has a significant opportunity to be continued to the detailed exploration stage up to the development of a new mining area or pit.The Bakan mine, which began operating in 2013, with the current number of resources, has a remaining 4-year mine life."The discovery of this new gold prospect is expected to be an option to increase the life of the Bakan Mine or even be developed as a new mine," said Edi in an official statement on Friday (19/4).Furthermore, initial exploration in the form of geological mapping, surface sampling, initial geophysical surveys, ASD (analytical spectral device) studies, metallurgical sampling, initial surveys with drones, and initial modeling was carried out in 2023.Edi said the initial exploration activities have been completed in an area that obtained a Borrow-to-Use Forest Area Permit (IPPKH) for exploration activities from the Ministry of Environment and Forestry (KLHK) in 2023.The results of geological mapping and surface sampling in 2023 show a large area of gold mineralization. In addition, the field mapping and surface sample analysis results show a fairly long mineralized area of more than 1.4 km.Some surface sample results show a 27-meter-long gold mineralization with an average grade of 1.3 g/t at the 1st channel sampling location. Similarly, the 3rd and 5th channel sampling sites show intense gold mineralization, 10m long with an average grade of 1.78 g/t and 5m long with an average gold grade of 2.64 g/t.A review of initial drilling results also showed good results, in both lateral spread, subsurface vertical spread, and gold mineralization grade. A total of 5 drill holes totaling 527.5m were completed during the initial exploration drilling phase.This initial drilling data resulted in a fairly long spread of gold mineralization and a fairly high average gold grade. Drill hole number 2 returned a 14m strike length of gold mineralization with an average gold grade of 2.25 g/t.Drill hole number 4 produced a very high grade, with a strike length of 11.1m and an average gold grade of 12.42g/t. Drill hole 5 also showed good results, with a strike length of 6.05m with an average gold grade of 2.07g/t.Resource modeling and preliminary metallurgical tests have also been carried out, and show very positive results, including a sizeable exploration target, leaching extraction >88%, and oxide-type gold with QLT (quick leach test) values of more than 80%. The preliminary data shows a very promising prospect to be developed into a mine."We hope this discovery can provide added value for PSAB, shareholders, and stakeholders," Edi concluded. Image source: Kontan / doc. J ResourcesSource: https://industri.kontan.co.id/news/j-resources-psab-temukan-prospek-tambang-emas-baru 

PT Freeport Indonesia (PTFI) has allocated around IDR 3.35 trillion of its net profit in 2023 to the Central Papua Provincial Government, producing districts, and other districts in Central Papua Province.PTFI's President Director, Tony Wenas, detailed the IDR 3.35 trillion funds divided into Central Papua Provincial Government around IDR 839 billion, and Mimika Regency Government around IDR 1.4 trillion. Meanwhile, other regencies in Central Papua province, namely Nabire, Paniai, Puncak, Puncak Jaya, Dogiyai, Deiyai, and Intan Jaya regencies each received IDR 160 billion."The payment of the regional share of net profit is the realization of the company's commitment to encourage economic improvement of local governments," Tony said in a written statement on Wednesday (17/4/2024).Tony explained that in 2023 PTFI managed to produce 1.65 billion pounds of copper and 1.97 million ounces of gold. From PTFI's operating performance, PTFI managed to score a net profit of USD 3.16 billion, equivalent to IDR 48.79 trillion (assuming IDR 15,439 per USD).Overall state revenue in the form of taxes, royalties, dividends, and other levies reached more than IDR 40 trillion in 2023, including contributions to the regions reaching more than IDR 9 trillion.Tony added that PTFI continues to be committed to providing benefits to communities around its operational areas through various social investment programs. In 2023, the value of PTFI's social investment reached nearly IDR 2 trillion and will continue to grow by around USD 100 million or IDR 1.5 trillion per year until 2041."Our success as a company is when the communities around our operational areas improve their standard of living and welfare. We will continue to grow and develop with Papua until the completion of mining operations in 2041," Tony said. Image source: CNBC Indonesia / Wahyu DanielSource: https://www.cnbcindonesia.com/news/20240417144243-4-531032/freeport-cetak-laba-rp-48-t-di-2023-rp-335-t-dibagi-ke-daerah 

Indo Tambangraya Megah Tbk (ITMG) said that coal mining activities from January to March 2024 were a continuation of activities carried out by 4 subsidiaries in the previous month period through their subsidiaries.Monika Ida Krisnamurti, Corporate Secretary of ITMG, in a written statement (8/4) said that the four subsidiaries, namely PT Indominco Mandiri, PT Trubaindo Coal Mining, PT Bharinto Ekatama, and PT Jorong Barutama Greston, spent IDR 11.85 billion.The exploration activities were carried out by the Geology Department with a focus on preproduction and development drilling activities using the Open hole drilling and Coring methods in PT Indo Tambangraya Megah Tbk (ITM)’s subsidiary.Trubaindo Coal Mining conducts exploration in the South Block area located in Muara Lawa District, West Kutai Regency, East Kalimantan Province has been carried out by the Drilling Service Contractor PT Cosyindo Teknik (CT).In the period January - March 2024, preproduction drilling activities have been carried out on South Block (SB2), while South Block (SB3) is still waiting for the Exploration PPKH permit to be approved by the Ministry of Environment and Forestry for IDR 1,099,625,486.Meanwhile, PT Indominco Mandiri's drilling operations are carried out in the West Block and East Block located in Sangatta District, East Kutai Regency, Marang Kayu District, Kutai Kartanegara Regency and North and South Bontang District, Bontang Regency, East Kalimantan Province, carried out by the Drilling Contractor PT Geryndo Utama (GU) using four (4) Jackro 175 units.In January - March 2024, PT Indominco Mandiri only conducted drilling activities in the West Block in the form of pre-production drilling of 78 holes with a depth of 5,857 meters in the form of open hole drilling of 54 holes with a depth of 5,672 meters and coring drilling of 24 holes with a depth of 185 meters in the area of pit 24, pit 13HWPB and pit SWB.Meanwhile, there was no drilling activity in the East Block. In the preproduction drilling activities, 149 ply samples were taken. To support mining activities during January - March 2024, 361 coal samples were taken from the existing pit and ROM areas. The total drilling cost for January - March 2024 is IDR 1,913,598,364.The Drilling Operations of PT Bharinto Ekatama are located in Damai Sub-district, West Kutai Regency, East Kalimantan Province and East Teweh Sub-district, North Barito Regency, Central Kalimantan Province with a working area of 17,311 Ha as contained in the attachment to the letter of the Director General of Mineral and Coal dated April 12, 2017 (the previous area was 22,000 Ha).The working area is divided into three main areas (blocks), namely the Biangan Block covering 4,707 Ha (East Kalimantan and Central Kalimantan), the Lempenang Block covering 7,943 Ha (East Kalimantan and Central Kalimantan), and the Tenaik Block (previously named Skidding Block) covering 4,661 Ha (all East Kalimantan).In the period January - March 2024, PT Bharinto Ekatama carried out pre-production drilling activities in the Lempanang Block in 130 drill holes with a depth of 7471 meters for the Open Hole and 9238 meters of the core drill (Coring) and exploration activities on the Tenaik Block with an Exploration PPKH permit in 2023, for drilling activities, exploration drilling has been carried out in 78 drill holes with a depth of 9341 meters for Open Hole and 506 meters of core drill (Coring) for IDR 8,844,936,194. Image source: doc. Indo Tambangraya Megah Tbk (ITMG)Source: https://emitennews.com/news/indo-tambangraya-itmg-rogoh-dana-eksplorasi-rp118m-ini-rinciannya