PT Kobexindo Tractors Tbk (KOBX) is preparing capital expenditure (capex) worth US$ 4 million in 2023. These funds will be used by KOBX for various needs. Main Director of Kobexindo Tractors, Andry B. Limawan, explained that the capital expenditure budget prepared this year will be allocated for operations to rejuvenation of the heavy equipment rental segment.Regarding business prospects this year, Andry admits that volatility in commodity prices and demand is indeed an important factor and must be observed in the mining industry. Therefore, he did not deny that the current downward trend of commodity price and demand sentiment could affect the Company's sales of heavy equipment. "However, management hopes that the demand for heavy equipment products will remain stable and have a positive impact on the heavy equipment industry," he explained to Kontan.co.id, Monday (13/2).Even so, Andry stressed, his party will continue to monitor market developments and take the necessary steps to ensure that the business continues to grow and earn profits in a sustainable manner. Throughout this year, KOBX sees the prospect of heavy equipment sales continuing to attract one of them to the mining sector. In addition, he assessed, the heavy equipment industry was still supported by demand from the infrastructure, logistics and manufacturing sectors for handling equipment and warehousing.In fact, to counteract the hurdles of declining demand in certain sectors, Andry revealed, KOBX has implemented a diversification strategy. This method is carried out to strengthen and balance the heavy equipment product portfolio. He gave an overview of the infrastructure and construction his party entered through the Dynapac & Doosan Portable Power product. Then for the manufacturing sector, Kobexindo's logistics enters through Jungheinrich and RITE-HITE and Doosan products. As for environmental solutions, they have HAKO & Makro products. "As for mining, our superior products come with the Doosan, Terex and Mercedes Benz brands," he said.Even though they have disclosed their capital expenditure and business strategy, Kobexindo's management has not been able to detail this year's sales target. Andry stated that the target for 2023 was still under internal review, so it could not be delivered yet.Source: https://industri.kontan.co.id/news/kobexindo-tractors-kobx-anggarkan-capex-us-4-juta-pada-tahun-2023

The Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan is exploring opportunities for cooperation in the development of electric vehicle batteries (electric car/EV) with Australian lithium entrepreneurs. In an upload on his personal Instagram account @luhut.pandjaitan monitored in Jakarta, Monday (13/2), while attending a roundtable meeting bridged between the Australia Indonesia Business Council and the Indonesian Consulate General in Perth, Luhut said that although it is rich in nickel, Indonesia has not yet become the world's king of electric vehicle batteries because does not have lithium which is the main ingredient in the development of the EV battery industry."In front of lithium entrepreneurs, I would like to say that Australia is the best candidate and our potential partner to develop the EV battery industry because half of the world's lithium is found in the country of the Kangaroo," he said. On that occasion, Luhut also brought several SOEs in the mineral resources sector to meet and explore direct cooperation with lithium entrepreneurs in Australia. According to Luhut, Indonesia needs to gain trust in order to cooperate with one of the world's lithium giants, including by considering several policy conveniences that Indonesia will provide. However, on the other hand it is still being done in a way that is responsible for environmental impacts."We are aware that the dream of becoming the 'king' of the world's electric vehicle batteries is not an easy thing. Therefore, it is necessary to have partners who trust and support each other, provide input in realizing better regulations, more open investment so that we can encourage economic growth and job creation of the two countries in order to achieve sustainable development goals," he said. Furthermore, Luhut revealed that Indonesia is not the same country as Indonesia decades ago. He stressed that Indonesia was on track to carry out a major transformation."We're on our way to making a major transformation. Even though many countries still underestimate us, not a few appreciate Indonesia's big change because it was able to survive in difficult conditions due to the global economic turmoil," he said again. Luhut said the key to Indonesia's economic resilience is the development of a mineral downstream industry with high added value as a focus to accelerate global commitments in the energy transition.Source: https://koran-jakarta.com/luhut-binsar-pandjaitan-jajaki-kerja-sama-baterai-ev-dengan-pengusaha-australia

The development plan for the electric vehicle (EV) battery factory holding the mining BUMN, MIND ID, is alive again. MIND ID said that PT Aneka Tambang Tbk (ANTM) is ready to continue the process of discussing collaboration with the LG Energy Solution consortium. This is to overcome the obstacles to the development of electric vehicle battery factories between the two parties.In previous news, the Main Director of MIND ID, Hendi Prio Santoso, once said that the plan to form a joint venture (JV) between Antam and LG Energy Solution was still unclear. LG also encouraged its consortium member, Huayou, to continue the discussion and negotiation process. However, Hendi admitted that the negotiation process was still experiencing problems. This is because MIND ID thinks that Huayou is not an equal partner with Antam. Huayou is only engaged in smelter development. Meanwhile, MIND ID wants a complete consortium from upstream to downstream of EV battery manufacturers.Confirmed separately, MIND ID Corporate Secretary Heri Yusuf said that discussions were ready to be carried out by Antam. "This is because Antam has completed the spin-off process for a nickel concession to a subsidiary of the issuer who is collaborating in the electric vehicle battery development project," he said, Thursday (9/2). In Kontan.co.id's previous news, the spin off process took place in August 2022. At that time, Antam transferred part of the mining business permit area located in East Halmahera, North Maluku, to PT Nusa Karya Arindo (NKA) and PT Sumberdaya Arindo ( natural resources).Currently, MIND ID said that there is an internal discussion process in the LG Energy Solution consortium regarding the composition of participation among the members of the consortium. This relates to involvement in the development of every line in the electric vehicle battery industry chain. "The electric vehicle industry that will be developed will include a holistic process from upstream to downstream or from mines to battery recycling," he said. Then, Heri said, the follow-up discussion process would be carried out after finalizing the composition and form of concrete cooperation from the LG Energy Solution consortium.Source: https://industri.kontan.co.id/news/mind-id-antam-akan-lanjutkan-negosiasi-pabrik-baterai-ev-dengan-lg-energy-solution

The Indonesian Coal Mining Association (APBI) hopes that the government will immediately revise the Coal Reference Price (HBA) formula. APBI Executive Director Hendra Sinadia revealed that requests to review the HBA formula had been submitted by business actors since early 2022. "We received information from the government at the beginning of this year that the government is currently reviewing it. Business actors want it to be revised immediately," Hendra told Kontan, Sunday (12/2). Hendra added that the new HBA formula is expected to reflect or be close to the actual selling price. Kontan noted that the revision of the HBA formula is one of the suggestions that business actors hope to make before the establishment of the Coal Public Service Agency (BLU). Meanwhile, Hendra confirmed that his party had not received the latest information regarding the formation of the Coal BLU.Source: https://industri.kontan.co.id/news/apbi-berharap-pemerintah-segera-revisi-formula-harga-batubara

TheNewswire - Vancouver, BC - Baru Gold Corp (TSXV:BARU) | (OTC:BARUF) (“Baru” and its subsidiary PT. Tambang Mas Sangihe (“TMS”) or the “Company”) is happy to announce to stakeholders and investors that the industrial-scale, illegal mining operations on Sangihe Island have stopped. As of February 10, 2023, all known illegal mines on Sangihe Island are no longer operating. The illegal miners, virtually all non-residents, left Sangihe Island en masse. Their remaining pieces of heavy equipment are being moved off the worksites.  As mentioned in our press release of January 11, 2023, the Company believes these events are directly related to the Police Chief of North Sulawesi (Kapolda) Setyo’s mission to end illegal mining across the entire region. Unfortunately, illegal miners have not undertaken any environmental remediation and left their worksites contaminated. The Company is the only entity legally permitted to operate a gold mine on Sangihe Island. We wish to stress to shareholders the importance of ending illegal mining on Sangihe Island. Virtually every difficulty and delay faced can be tied directly or indirectly to illegal miners that have a vested financial interest in preventing the Company from operating. Illegal miners have also spent significant sums of money to fund media campaigns, lawsuits, and protests that have resulted in physical attacks on and blockage of the Company’s equipment and staff. The departure of illegal miners is a win for the Company, local Sangihe residents, the environment, and Indonesia.Mr. Terry Filbert, CEO of Baru Gold, commented, “For too long, Sangihe Island has been held hostage by a few individuals using the Island’s resources to enrich themselves and corrupt the social fabric and environment. The illegal miners brought nothing but corruption, violence, and environmental destruction.  The gold on Sangihe should be used to provide lasting positive social and economic changes on the Island – not for nefarious purposes. The residents have now seen and felt the damage done by the illegal miners on Sangihe. In contrast, the Company pays many taxes, including payroll, property, land concession, income, and, once in production, royalties. All these taxes go to support the development of the Island and the Indonesian economy. Seventeen villages on Sangihe are still without connection to the electrical grid. Our tax contributions will flow to such villages to help electrify them – not only to a few self-interested individuals. I look forward to seeing the positive financial and social changes on Sangihe Island, while protecting the environment.”The Company also wishes to welcome Jan Leonard de Fretes as the new Wakapolda (Vice-Regional Head) of the North Sulawesi Police. The Wakapolda is newly appointed, and like Kapolda Setyo, he has also prioritized the removal of illegal miners and dismantling the supply chain, upon which they depend, across the entirety of North Sulawesi. Source: https://www.thenewswire.com/press-releases/1AG9FW9Ny-baru-gold-announces-closures-of-illegal-mines.html

Nickel miner PT Vale Indonesia broke ground on a 37.5 trillion rupiah ($2.48 billion) ferronickel smelter Sulawesi island on Friday, an Indonesian senior minister said. The Bahodopi project will produce ferronickel with 73,000 to 80,000 tonnes of nickel content per year, Vale has said. “I hope this will be followed by the laying of the next stones. God willing, it can be completed in 2.5 years,” Coordinating Minister of Economic Affairs Airlangga Hartarto said in a statement.The smelter, which would employ up to 15,000 workers during construction phase is a joint project between Vale and its partners, China’s Shandong Xinhai Technology Co. Ltd and a unit of China Baowu Steel Group Corp. Ltd. In Pomalaa, another area of Sulawesi island, Vale and its partners are developing a plant to produce 120,000 tonnes per year of mixed hydroxide precipitate, a material extracted from nickel ore that is used in batteries for electric vehicles.($1 = 15,130.0000 rupiah)(By Bernadette Christina; Editing by Jason Neely)Source: https://www.mining.com/web/vale-indonesia-breaks-ground-on-2-5-billion-ferronickel-smelter/

In January 2023, Karunia – a Liebherr Indonesia customer – signed an agreement for the purchase of four additional units of the R 9300 mining excavator for Tabang coal mine, located in the Kutai Kartanegara Regency of East Kalimantan, Indonesia. These four excavators will be delivered from late 2023 to early 2024 and will join the R 9300 pre-series unit that has been on site since September 2022.PT Karunia Armada Indonesia (Karunia) has agreed to increase its existing mining fleet with four of Liebherr Mining’s latest 250 t class excavator: the R 9300 G8. Karunia received a pre-series unit of the R 9300 in September 2022 as part of the development and validation process for the mining excavator.During the development and validation process, Karunia provided direct and transparent feedback about its Liebherr fleet. This helped Liebherr to better understand the role that its technology played in supporting customers’ daily activities. After a few months in operation, the figures provided to Liebherr by Karunia have proven that the R 9300 G8 perfectly matches Karunia’s requirements during its operations.Liebherr says Karunia has observed the high performance of the R 9300 since its arrival on site in September 2022, further solidifying its decision to expand its R 9300 fleet. “The company has expressed that the performance of the R 9300 G8 has been staggering and surpassed all expectations. The excavator has helped Karunia to achieve its ever-increasing production targets. Karunia has also articulated that the best things about the pre-series unit they received were the comprehensive services and the quick response times from Liebherr Indonesia.”Liebherr Mining and Karunia established their partnership in 2021, with the delivery of an R 9100 mining excavator to the Tabang mine. Since that time, Karunia’s fleet of Liebherr machines has increased and now includes an R 9200, the pre-series R 9300, and two PR 776 mining dozers. The steady growth of Karunia’s fleet of Liebherr equipment, including their purchase of four more R 9300 units, “represents Karunia’s faith in Liebherr’s ability to deliver products that provide exceptional results.”Karunia originally chose Liebherr Mining products for their competitive availability and terms, offered during a time of uncertainty. Further, Liebherr’s product support – directly backed by the OEM – is a unique structure in Indonesia. “Karunia chooses to continue to work with Liebherr Indonesia due to the encompassing measures the company takes to support Karunia’s growth after the sale of the equipment.”Karunia is a mining contractor headquartered in Balikpapan, East Kalimantan. In 2011, Karunia expanded into surface mining when the company was offered a contract by PT Bayan Resources Tbk to haul coal and overburden within the Tabang mine site. Since this contract was established, it has been Karunia’s goal to increase coal production on site to meet Bayan’s requirements. Liebherr’s R 9300 will play a crucial role in increasing the efficiency of Karunia’s operation.The R 9300 G8 – unveiled at the Bauma exhibition in Germany last year – is the latest mining excavator to join Liebherr Mining’s portfolio. The new R 9300 is the second Generation 8 excavator launched within the portfolio and is fitted with the most advanced Liebherr Mining technologies, building on Liebherr’s decades of expertise designing excavators for the mining industry.The R 9300 will replace the R 9250 within Liebherr’s portfolio once the new model enters serial production in 2024.Source: https://im-mining.com/2023/02/09/indonesian-contractor-karunia-adding-four-new-r-9300-excavators-at-tabang/

The Indonesian government considers halting the export of unprocessed copper ores to encourage domestic processing of raw materials in the country’s industrialization push, following a similar policy on nickel and bauxite, President Joko “Jokowi” Widodo said on Tuesday.After nickel ore exports were banned several years ago to force the opening of processing plants in Indonesia, the value of nickel export recorded a thirtyfold increase from $1 billion to around $30 billion in 2022, the president said in an exclusive interview with news broadcaster BTV at the presidential palace in Jakarta.“We have stopped the export of nickel ores, then we expanded the policy on bauxite, and now we are calculating a plan to stop copper [ore] exports in the near future,” Jokowi told BTV Chief Editor Apreyvita Wulansari.He said his government will not back down from the restriction on mineral ore exports despite challenges at the World Trade Organization from the European Union and other countries, stressing that foreign governments cannot dictate the terms of how Indonesia manages its own natural resources.He quoted an article from the 1945 Constitution stating that natural resources shall be exploited “to the greatest benefit of the people”.“Therefore I stated that not a single country can force us to export [raw minerals]. These resources belong to us so how come we aren’t allowed to process them inside our country?” Jokowi said.Last month, the president announced a ban on all bauxite exports starting in June 2023 under the so-called downstream industry policy, following a similar move on nickel ore exports imposed on January 1, 2020“If we have no courage to move forward and easily back down from our policy because of pressures [from other countries], we can never become a developed country, because prosperity is generated from the added value of our natural resources,” Jokowi said.“Indonesia is not a closed economy. Our door is open to investment but please set up your processing plants here and run your industry in Indonesia so that we can create as many jobs as possible,” he added.For decades, the Indonesian people haven’t reaped the true benefits of their own natural resources due to the absence of added value in export sales, so the current government has to force itself to be in stubborn determination to impose downstream industry at home, he said.“If we are consistent with our policy, by 2027 we will own a huge ecosystem of electric vehicles and batteries. We are expecting a huge rush of the EV industry in Indonesia because the materials for batteries are here,” he said.Source: https://jakartaglobe.id/business/indonesia-mulls-halting-copper-ore-exports

PT Bumi Resources Tbk ( BUMI ) oversees the coal downstream agenda. BUMI hopes to start construction work on its subsidiary's coal downstream project this year. "We are currently evaluating the project and selecting options with a commissioning target of around 3 more years or more," said BUMI Director and Secretary, Dileep Srivastava to Kontan.co.id, Monday (6/2).As is known, BUMI is overseeing the agenda of 2 coal to methanol gasification projects through its subsidiaries, one of which is carried out by PT Kaltim Prima Coal (KPC). According to the plan, KPC will work on the construction of a coal-to-methanol processing facility in Bengalon, East Kalimantan. In this project, BUMI as part of the Bakrie Group is collaborating with Ithaca Group and Air Products. Later, KPC will act as a supplier of coal for the gasification facility, the projected need is around 6.5 million tons. The input will then be processed into 1.8 million methanol per year.Other projects are carried out by another subsidiary, namely PT Arutmin Indonesia. Just like KPC, Arutmin will also work on a coal to methanol gasification project on Pulau Laut, South Kalimantan. According to the plan, Arutmin will produce as much as 2.8 million tons of methanol per year by processing GAR quality coal input of 3,700 kcal per kg of 6 million tons per year. Dileep has not disclosed how much capital expenditure BUMI will budget to finance the two projects. "It's too early to talk about the numbers at this time," said Dileep.Regarding incentives, Dileep believes that royalty incentives from the government make downstream projects attractive. As is well known, Article 128 A of Government Regulation in Lieu of Law (Perppu) Number 2 of 2022 concerning Job Creation states that IUP or IUPK holders at the stage of Production Operations who carry out the Development and/or Utilization of Coal can be given certain treatment towards obligatory state revenues as referred to in Article 128. The provision of certain treatment in question can be in the form of the imposition of a production fee/royalty of 0%.Source: https://industri.kontan.co.id/news/bumi-resources-bumi-berharap-mulai-konstruksi-proyek-hilirisasi-batubara-di-2023

PT Ancora Indonesia Resources Tbk ( OKAS ) gold mining project in West Lombok will enter a new phase in the first quarter of 2023. OKAS Main Director, Rolaw P. Samosir said, his party would start work on the Joint Ore Reserves Committee (JORC) for the gold mine in March 2023. This activity, said Rolaw, will produce more accurate information on the number of reserves. "The activity is to carry out additional drilling ," he told Kontan.co.id, Monday (6/2).As is known, the mining business permit (IUP) of OKAS' subsidiary, namely PT Indotan Lombok Barat Bangkit (ILBB), for a gold mine in West Lombok was declared valid and legally enforceable in August 2022. This policy was set forth in the decision to cancel the business license revocation of a subsidiary company numbered 20220829-08-01-0003. According to estimates, mining JORC activities in West Lombok will cost around IDR 40 billion - IDR 45 billion. It's just that, OKAS admitted that they could not confirm exactly how much money was needed to fund these activities.Taking a peek at the company's interim financial reports, OKAS still has Cash and Bank End of Period of US$ 4.52 million as of last September 30, equivalent to approximately Rp. 65.63 billion if US$ 1 is assumed to be equivalent to Rp. 14,500. The amount of cash increased by 9.14% compared to the Cash and Bank position at the Beginning of the Period (2022) which amounted to US$ 4.14 million. For a bit of information, OKAS posted profit for the period attributable to owners of the parent entity, aka a net profit of US$ 6.81 million in January-September 2022 after previously posting a net loss of US$ 3.87 million in January-September 2021.This achievement was achieved in line with the increase in revenue inscribed by the company. Just so you know, the company's interim financial report states that OKAS' net sales rose 48.58% on an annual basis or year-on-year (yoy) from the original US$ 77.30 million in January-September 2021 to US$ 114.85 million in January -September 2022.  Rolaw said, currently his party is preparing for JORC. He estimates that JORC activities will take approximately 9 months. "(JORC activities) will be continued with the construction of infrastructure and factories (gold processing)," he added. According to the plan, OKAS will start construction of the factory in the first quarter of 2024. If nothing goes wrong, construction of the factory is scheduled to be completed in the second quarter of 2025.Source: https://industri.kontan.co.id/news/ancora-indonesia-resources-okas-bakal-mulai-jorc-tambang-emas-di-maret-2023