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21 Nov 2023, 08:00 AM

Thiess Breaking Ground at HSM

Leading the ceremony was Ika Zuly Irawati, the Project Manager who made history as Thiess Indonesia's first female mining Project Manager. Ika waved the Thiess flag, symbolizing the commencement of operations and the official start of the first dig.The celebration continued at the Plant Workshop, where Ika addressed the Plant team, emphasizing their integral role in the operations. She stressed the importance of collaboration, encouraging the Plant team to work closely with their counterparts in Mining to succeed together.Joining the ceremony at the camp area were representatives from HSM, including Chief Mine Officer Jimmy Darvid. Jimmy said that he was delighted at the partnership with Thiess, hoping for a successful collaboration.From Thiess side, Mining Operations Manager for HSM Willem Dique gave a speech praising the team's efforts, rallying everyone to continue working together to achieve Thiess's shared objectives. Head of Mining Peter Cory highlighted the significance of the HSM project. As Thiess Indonesia's first full nickel mining contract which not only supported Thiess's diversification strategy but also highlighted Thiess's capability in handling diverse commodities.Closing out the event, Thiess and HSM’s representatives joined hands in tree planting activities, displaying Thiess's commitment towards a sustainable future.The HSM project is Thiess Indonesia's first full nickel mining project which the AUD 240 million contract was awarded in late August 2023. The project is located in Central Halmahera, North Maluku, Indonesia.Image source: ThiessSource: ground at HSM
17 Nov 2023, 12:00 PM

EcoPro expands nickel supply with new GEM deal

EcoPro agreed to invest a total of USD 86 million into a nickel processing facility in Indonesia, operated by China’s Green Eco-Manufacture (GEM), to expand its nickel supply chain. This is EcoPro’s second phase of investment made in the Indonesian plant QMB, which is situated at the industrial complex on Sulawesi island. The company has not disclosed exact figures for either phase but did state on Wednesday that the additional investment will increase the amount of nickel that it receives from QMB.The company secured a 9 percent stake in the Indonesian production plant, as well as an annual provision of 6,000 tons of nickel, with its initial round of funding, which took place in March 2022. “We cannot reveal the investment figure due to a confidential agreement that was part of the deal,” an EcoPro spokesperson said. “The amount of stake stays the same. The recent deal was made to secure a larger nickel supply.” The second deal will equip QMB with the infrastructure to annually produce 50,000 tons of nickel annually. It can currently produce 30,000 tons. EcoPro imported its first 400 tons of nickel from QMB through Pohang in August.Nickel is a key material in the production of secondary batteries. Indonesia has the world’s largest nickel reserves; they are estimated at 21 million tons and account for 22 percent globally. EcoPro CEO Song Ho-jun and GEM Chairman Xu Kaihua met at the Indonesian facility last week to sign the deal.EcoPro will use the QMB-supplied nickel to make battery precursor, which it will then supply to affiliates such as EcoPro BM and EcoPro EM. “Through investment in QMB, the supply value chain for the raw material to process precursor was strengthened,” EcoPro CEO Song Ho-jun said in a statement. “EcoPro, as the EcoPro Group’s holding company, will focus on securing stable supplies to make our business more lucrative.”Image source: ECOPROSource: expands nickel supply with new GEM deal
17 Nov 2023, 09:00 AM

BRMS Optimizes New Gold Reserve Discovery in Poboya

PT Bumi Resources Minerals Tbk (BRMS) is ready to optimize the discovery of new gold reserves and resources at the Poboya Mine in Palu, Central Sulawesi.BRMS Director Herwin Hidayat revealed that the discovery of gold ore reserves has increased by 38%, from the previous 22.8 million tons to 31.5 million tons, with an average gold grade of 2.4 g/t.This condition extends the production life of the Poboya Mine. "In the future, mining activities must be increased to obtain and process the ore into gold," said Herwin to Kontan on Friday (10/10).For your information, the additional resources came from the River Reef prospect, Hill Reef 1 prospect, and a new prospect in Watuputih which is west of River Reef owned by PT Citra Palu Tengah.Herwin continued that BRMS's gold production for the first nine months, through its subsidiary PT Citra Palu Minerals, amounted to 511 kg or 16,437 oz. This figure surged by 328% compared to the same period last year.In the third quarter of 2023, this mineral mining company reported revenue of USD 32.74 million. This realization increased 294% from revenue in the same period the previous year which was only US$ 8.32 million. This figure also managed to exceed BRMS's revenue in 2022, which at that time reached US$ 11.64 million.From the bottom line perspective, BRMS recorded a 65% increase in net profit to USD 10.6 million, compared to the previous USD 6.47 million in the same period last year.Earlier, BRMS President Director Agus Projosasmito expressed their target for increased production in the remaining months of the year."We also hope to increase our gold production in the second semester of 2023 from our newly completed second gold processing facility. The increase in gold production will have a positive impact on the Company's financial performance in 2023," said Agus in a press release on Wednesday (1/11).Image source: BRMSSource: Resources Minerals (BRMS) Optimalkan Temuan Cadangan Emas Baru di Poboya
16 Nov 2023, 12:00 PM

Petrosea (PTRO) Seeks Board Restructuring Approval Post PT Petrindo Jaya Kreasi Acquisition

PT Petrosea Tbk (PTRO) will seek approval from shareholders to overhaul or change the composition of the Board of Commissioners and Directors of the company. PTRO also seeks approval for the adjustment of Article 3 of the Company's Articles of Association, related to aligning the company's business activities with the Indonesian Standard Industrial Classification 2020 (KBLI 2020) based on Government Regulation of the Republic of Indonesia Number 5 of 2021 concerning Risk-Based Business Licensing, along with its implementing regulations.In an official announcement on Friday (10/11), PTRO's management stated that both agendas would be submitted for shareholder approval at the Extraordinary General Meeting of Shareholders (RUPSLB) scheduled for December 4, 2023, at the INDY Bintaro Multipurpose Building in South Jakarta.As previously known, the coal mining company owned by Prajogo Pangestu, PT Petrindo Jaya Kreasi Tbk (CUAN), will acquire 342,925,700 shares or a 34% ownership stake in PT Petrosea Tbk (PTRO) from PT Caraka Reksa Optima. This is outlined in the conditional share purchase agreement between CUAN's subsidiary, PT Kreasi Jasa Persada, and Caraka Reksa Optima on November 7, 2023.Michael, Corporate Secretary (also serving as Director) of CUAN, explained in an official statement on Tuesday (7/11) that CUAN's subsidiary is currently negotiating with Caraka Reksa Optima until all requirements are complete.As a result, Prajogo Pangestu through CUAN will become the controlling shareholder of PTRO, and public shareholders will be offered the opportunity to participate in a mandatory offer or tender offer after the completion of the transaction."The purpose of controlling PTRO is to increase assets, expand business, and as part of the long-term business development plan to become an integrated mining and mining services company," wrote the management of Kreasi Jasa Persada.Image source: PTROSource: Emiten Prajogo (CUAN), Petrosea (PTRO) Minta Restu Rombak Direksi dan Komisaris
16 Nov 2023, 09:00 AM

Amman Mineral's (AMMN) Capex Absorbed IDR 7.5 Trillion
PT Amman Mineral Internasional Tbk (AMMN), reported the realization of capital expenditure (capex) up to the third quarter of 2023, amounting to USD 480 million or approximately IDR 7.5 trillion. This figure represents a significant increase of 119% compared to the same period in 2022.The company's capital expenditure budget is allocated for the procurement of mining equipment, the construction and enhancement of supporting facilities for ore mining in Phase 7, and overburden removal in Phase 8, with sustaining capex amounting to USD 110 million or IDR 1.72 trillion.Additionally, capital expenditure for the smelter is USD 137 million or IDR 2.15 trillion for the expansion of the concentrator plant, USD 138 million or IDR 2.17 trillion for the Gas and Steam Power Plant (PLTGU), and LNG facilities amounting to USD 94 million or IDR 1.47 trillion."The mining and infrastructure projects of Amman Mineral are progressing according to schedule. The cumulative capital expenditure is USD 476 million for the copper smelter and PMR projects, each reaching completion at 67.1% and 65.4%, respectively, as of September 30, 2023," said AMMN President Director Alexander Ramlie in his official statement on Monday (6/11/2023).He mentioned that the construction progress of the copper smelter project exceeds the government-approved target of 66.9%. Furthermore, the company's concentrator plant expansion project has spent USD 497 million of the capital expenditure budget."As for the PLTGU and LNG facilities, capital expenditures amounted to USD 251 million until September 2023," added Alexander.Meanwhile, AMMN recorded a decline in net profit in the first nine months of this year. The company's profit as of September 2023 was recorded at USD 62.67 million or IDR 995.46 billion, down 91.57% from the same period the previous year of USD 744.09 million.The decrease in the company's profit corresponds to a 41.79% decline in net sales to USD 1.15 billion or IDR 18.27 trillion, down from the previous USD 1.97 billion. Specifically, gold sales were recorded at USD 453.68 million or IDR 7.20 trillion, and copper sales amounted to USD 697.07 million or IDR 11.07 trillion.The decline in company sales was attributed to the delayed extension of export permits from April 1 to July 23, 2023. After obtaining the export permit on July 24, 2023, the company accelerated concentrate shipments in the third quarter of 2023 to recover lost sales.Image source: EmitenNews.comSource: Amman Mineral (AMMN) Terserap Rp7,5 Triliun, Ini Rincian Realisasinya
16 Nov 2023, 08:00 AM

LX International to buy Indonesia's PT AKP for nickel mining

Getty Images
LX International Corp., the trading unit of South Korea’s LX Group, said on Tuesday it is slated to acquire a 60% stake in Indonesian miner PT Adhi Kartiko Pratama (AKP) at 132.9 billion won (USD 101.3 million) to produce nickel, a core material for electric batteries.PT AKP’s mines on Sulawesi Island, Indonesia, have proven mineable nickel estimated at about 36 million tons, which can be used for 7 million electric vehicles, LX International said in a press release on Nov. 7.“PT AKP’s mines have great infrastructure such as a haul road, a pit and a port. The location is also great – the mines are near the nickel industrial complex on the island,” an LX International official said.The trading company is planning to complete the transaction by Feb. 29, 2024, and raise the Indonesian firm’s annual nickel production capacity from its current 1.5 million tons to 3.7 million tons by 2028.LX International will continue to secure nickel and shift its major natural resource business from coal to EV battery minerals, an official from the trading firm said.In the third quarter, LX International’s operating profit reached KRW 63.6 billion on a consolidated basis, a 76.7% drop from a year earlier, as reported in its preliminary report on Tuesday.Meanwhile, LX International’s third-quarter operating profit reached 63.6 billion won on a consolidated basis, dropping 76.7% from a year earlier, according to its preliminary report on Tuesday.Its third-quarter revenue fell 22.3% on-year to 3.66 trillion won, while the quarterly net profit plunged 80.2% from a year earlier to 49 billion won.“The natural resource market boomed and logistics freight fares significantly rose last year. As they are on a downtrend this year amid the global economic slowdown, the base effect will occur in the third-quarter earnings,” an LX International official said.The company forecasts fourth-quarter results to show improvement, with more energy use in the winter season and recovery of air freight demand.LX International is investing the profits from its traditional businesses, such as coal and palm oil supplies, in future growth drivers such as EV battery materials, the company added.Image source: Getty ImagesSource: International to buy Indonesia's PT AKP for nickel mining
15 Nov 2023, 12:00 PM

Thiess ramps up truck rebuilding capability in Indonesia

Thiess says it has demonstrated commitment to expanding its truck and component rebuilding capabilities on a large scale with the execution of a lease for a new facility at Kabil Integrated Industrial Estate on Batam Island, Indonesia.Thiess has an extensive fleet of mining haulage trucks in Indonesia and Australia, including more than 650 that will reach the end of their service life in the next eight years and require either replacement or rebuilding, it says.Thiess Group Executive Chair and CEO, Michael Wright, said: “The new truck rebuild facility at Kabil Estate is an integral part of a strategic initiative to equip Thiess with better control over our asset replacement and rebuild program, and deliver improved financial and sustainability outcomes for our clients and shareholders.“We are pleased to have secured this site that is centrally located between our Indonesian and Australian operations, with world class facilities and transport and logistics services – the professionalism and support from Kabil Estate has enabled swift mobilisation and we are on track for first production by December 2023.“This rebuild facility also establishes a platform for Thiess to explore decarbonisation and alternative fuel technologies, as well as the opportunity to provide these services for our clients in the future.”Kabil Integrated Industrial Estate Group Chairman, Kris Wiluan, said: “We are delighted to welcome Thiess as a valued addition to Kabil Estate. With state-of-the-art infrastructure, strategic location, and a focus on sustainability, we look forward to providing Thiess with a competitive advantage in its operations in Indonesia and Australia while supporting its ecofriendly initiatives.”Thiess Batam Engineering General Manager, Daryl Albury, said: “Our new facility at Kabil Estate will enable Thiess to reset the usage clock on up to 160 trucks per year to zero hours, through a complete overhaul, including all major components, a full refurbishment of electrical systems and returning all worn components to original equipment manufacturer specification.“The zero-hour rebuild is expected to extend the service life of each of Thiess’ Caterpillar mining trucks by a further 40,000 to 60,000 hours.”Thiess Group Executive Assets, Technical Services and Technology, Ramesh Liyanage, said: “Thiess’ reputation for certainty of delivery is built on our expertise in asset management and fleet maintenance, with component rebuild centres across our operations for decades.“This new truck rebuild facility is the next step up in the evolution of our capabilities and service offerings.”Thiess’ existing rebuild facilities in Perth, Brisbane and the Hunter Valley in Australia, and in Balikpapan in Indonesia, have a track record in rebuilds and refurbishments of trucks, dozers and components for the company’s fleet of mining assets, as well as limited fee-for-service rebuilds of client assets.Image source: ThiessSource: Ramps Up Truck Rebuilding Capability In Indonesia 
15 Nov 2023, 08:00 AM

Erick Thohir announces Freeport's plan for a smelter in Fakfak, West Papua

MNC Media
Minister of State-Owned Enterprises (BUMN) Erick Thohir revealed Freeport McMoran's big plan to build a smelter in Fakfak, West Papua. This plan comes after the world's largest gold producer completes its smelting project in Gresik, East Java.Erick has not confirmed in detail when the start of the smelter project in Fakfak, West Papua. However, he confirmed that Freeport McMoran will increase its investment in Indonesia through the construction of a new smelter in Fakfak."In December, the first phase of Freeport's smelter in Gresik, East Java, will be inaugurated, and by the end of next year, the second phase will be completed. Freeport is committed to constructing another smelter in Fakfak, Papua," Erick stated through his Instagram account on Tuesday (14/11/2023).According to him, the development of projects in the energy and mining sectors aligns with President Joko Widodo's (Jokowi) downstreaming program, as it adds value to Indonesia.Not only that, but the investment from the U.S.-based company is also believed to generate new employment opportunities, ultimately driving local economic growth."This is in line with the downstreaming program to increase added value for Indonesia. We continue to encourage investment in Indonesia to create job opportunities in the homeland," he explained.The man who also serves as the Acting Coordinating Minister for Maritime Affairs and Investment notes that the handles and investment relationship between Indonesia and the U.S. are currently on the rise. Indonesia has recorded a trade surplus with the U.S. amounting to USD 16 billion.In fact, US investment in Indonesia is the fourth largest which has never happened before."Indeed, trade relations between Indonesia and the US continue to increase now, especially since our financial surplus with America is almost USD 16 billion," Erick explained. "And that's why the President is encouraging investment in Indonesia from the United States, including PT Freeport, because our state-owned company already controls 51 percent," he added.Image source: MNC MediaSource: Sebut Freeport Mcmoran Bakal Bangun Smelter Di Fakfak Papua Barat


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