PT Ancora Indonesia Resources Tbk (OKAS)managed to grab the top gainer title during yesterday’s closing bell (16/5) in Indonesia Stock Exchange (IDX). A day before yesterday (15/5), the issuer was stuck at the runner-up position under PT Sarana Mitra Luas Tbk (SMIL) following its debt restructuring plan that resulted in positive sentiment among the public.Based on IDX data compiled by IDNFinancials today (17/5), OKAS’s stock price grew IDR 42 or 34.43% to IDR 164 per share from the initial IDR 164 seen on Monday (15/5). The growth presumably resulted from its announcement of obligation payment to Island Spice Investments Limited (ISIL), its new creditor, worth USD 18.24 million.The volume of traded shares clocked up to 308.73 million, all recorded in 23,019 transactions worth IDR 46.91 billion. OKAS’s shares were mostly sold by investors to gain capital as the price trend is increasing. Its foreign buy and sell clocked up to 8.38 million shares.Then, PT Jhonlin Agro Raya Tbk (JARR) arrived at the second position, rising 34.39% or IDR 65 to IDR 254 per share from IDR 189 per share. The traded shares were recorded at 41.16 million shares within 6,261 transactions worth IDR 10.08 billion. Source: https://www.idnfinancials.com/news/46907/okas-seized-smils-gainer-title

PT Kalimantan Alumunium Industry (KAI) and PT Kaltara Power Indonesia (KPI) have obtained a loan facility of IDR 2.5 trillion in total to aid the establishment of aluminium smelting facility and power plant in North Kalimantan. In the information disclosure quoted Wednesday (17/5), Mahardika Putranto, Corporate Secretary of PT Adaro Energy Indonesia Tbk (ADRO), the indirect parent company of KPI and KAI, said that this facility is intended to support investment and operational activities of the company. "The project development is an example of our commitment and participation in the government's mineral downstreaming programs," he said.The loan facility for KAI is set to IDR 1.54 trillion, which will be utilised to carry out the aluminium smelting plant project with a capacity of 500,000 tons per year. Meanwhile, the facility for KPI, amounting to IDR 952.1 billion, will be used to develop a power plant with a capacity of 1,060 megawatt (MW).  These two projects are located in the industrial area that will be developed by PT Kalimantan Industrial Park Indonesia. The facility will mature in 8 and 10 years, respectively, after the facility agreement was signed.The collateral submitted for this facility is a pledge of shares of PT Adaro Indo Alumunium (AIA) in KPI and PT Adaro Power (AP) in KAI, whose total value does not exceed the transaction value of the facility agreement. The facility agreement signing and the guarantee submission took place last Friday (12/5). Source: https://www.idnfinancials.com/news/46902/adro-subsidiary-secures-idr-loan

Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set a reference coal price (HBA) this month through Decree of the Minister of Energy and Mineral Resources Number 84.K/MB.01/MEM.B/2023 concerning Reference Metal Mineral Prices and Reference Coal Prices for May 2023. In the regulation, HBA in terms of calorific value of 6,322 kcal per kilogram (kg) GAR, 12.58 percent total moisture, 0.71 percent total sulfur and 7.58 percent ash is set at US$206.16 per tonne . "This price is used as a reference for the HBA during May in increasing royalty rates and for calculating the Coal Benchmark Price (HPB) calories greater than 6,000," said the Head of the Bureau of Communication, Public Information Services, and Cooperation (KLIK) of the Ministry of Energy and Mineral Resources, Agung Pribadi, as quoted from a press release, Monday (15/5/2023). The high calorie HBA, said Agung, is intended for the provision of electricity for public purposes, meeting the needs of raw materials or fuel for domestic industries in addition to industrial processing and refining of metal minerals.Furthermore, HBA in equivalent calorific value is 5,200 kcal per kg GAR, total moisture is 23.12 percent, total sulfur is 0.69 percent and ash is 6 percent. Determination that is categorized as HBA I is used as a reference HBA in the calculation of 5,200-6,000 calorie HPB. "HBA I was set at US$119.64 per tonne," said Agung. Finally, HBA in terms of calorific value of 4,200 kcal per kg GAR, total moisture of 35.29 percent, total sulfur of 0.2 percent and ash of 4.21 percent yielded a figure of US$82.23 per tonne. "HBA II is used as a reference HBA in calculating HPB calories less than or equal to 5,200," he said. Previously, he said, the formula for determining the HBA in principle aimed to obtain a reference price that could be accepted by the market taking into account state revenue. "This consideration is the basis for the need to issue regulations related to prices based on market mechanisms," he said. As is known, the HBA is formed from the average realized selling price of coal in the previous two months, with a proportion of 70 percent of the realized price in the previous month. In addition, the formation of the HBA was taken from 30 percent of the realized price two months earlier based on data on the realization of coal sales submitted by the mining business entity at the time of fulfilling the obligation to pay coal royalties.Source: https://ekonomi.bisnis.com/read/20230516/44/1656231/menteri-esdm-patok-hba-kalori-tinggi-mei-2022-di-angka-us20616-per-ton

PT Adaro Energy Indonesia Tbk (ADRO) will distribute dividend worth USD 1 billion from its net profit gained in 2022. This dividend is higher than the ones distributed from the 2021 net profit, which only reached USD 650 thousand. In the information disclosure quoted Tuesday (16/5), Mahardika Putranto, Corporate Secretary of ADRO, said that the dividend for the fiscal year 2022 is USD 500 million or USD 0.016 per share, while the dividend paid based on the Official Shareholders List is USD 500 million. The dividend allocation is made based on the total net profit attributable to the parent entity of USD 2.49 billion, retained earnings of USD 4.41 billion, and total equity of USD 6.52 billion.The dividend will be disbursed on June 6 to the ones in the official list recorded by May 24 (recording date). The cum and ex dividend in the regular and negotiation market has been set to May 22-23, while the cum and ex dividend in the cash market will follow on May 24-25. In 2022, the issuer had distributed an interim dividend for the fiscal year 2021 worth USD 350 million or USD 0.0112 per share, while the dividend paid according to the Official Shareholders List worth USD 300 million. In said year, ADRO recorded net profit of USD 933.49 million, retained earnings of USD 2.71 billion, and total equity of USD 4.45 billion. Source: https://www.idnfinancials.com/news/46886/adro-grant-dividend

 PT Petrosea Tbk (PTRO) will acquire 99.93% of shares of PT Kemilau Mulia Sakti (KMS) for USD 90.5 million. KMS is the holder of the Production-Operation Mining Business License in West Kutai, East Kalimantan, through its subsidiary, PT Cristian Eka Pratama (CEP).In the information disclosure quoted Friday (12/5), Aldi Rakhmatillah, Director of Petrosea, confirmed that KMS owns 4,950 shares or 99% of CEP, while 99.93% of KMS is controlled by PT Insan Global Pawulang (IGP). “The company had signed the Sale and Purchase Binding Agreement regarding conditional shares purchase with IGP yesterday (10/5),” he said.The companies involved in the transaction are not affiliated. PTRO’s initiative to acquire KMS is related to its business expansion plan in the coal mining sector. The purchase of IGP’s portion in KMS will be thoroughly completed after meeting all conditional precedence, no later than June 30, 2023. After the deals were officially concluded, IGP’s shares in KMS will be handed over to PTRO. (LK/ZH)Source:  https://www.idnfinancials.com/news/46861/ptro-acquire-mining-company-west-kutai

PT Indika Energy Tbk (INDY) signed a memorandum of understanding (MoU) with PT Bank KB Bukopin Tbk (BBKP) on 11 May 2023. This collaboration aims to encourage the development of electric vehicles in Indonesia and its ecosystem. Through this MoU, KB Bukopin will provide financial support to the company regarding electric vehicles and their ecosystem. However, it is not limited to the business of two-wheeled and four-wheeled electric vehicles, charging and battery infrastructure, as well as developing business by partnering with each other.Main Director of INDY Arsjad Rasjid said, Indika Energy as a private party is ready to support the development of the national electric vehicle industry. He said, one of the big challenges faced in developing an electric vehicle ecosystem is a matter of funding. "This collaboration can accelerate the development of the electric vehicle industry in the country. This is also part of the company's mission to present a comprehensive electric vehicle ecosystem in Indonesia," Arsjad said in a press release, quoted Friday (12/5/2023).Source: https://www.idxchannel.com/economics/indika-energy-indy-gandeng-bank-bukopin-kembangkan-ekosistem-kendaraan-listrik

PT MNC Energy Invesments Tbk (IATA) will issue bonds worth a maximum of IDR 1.5 trillion. The guarantee for these upcoming bonds includes the company's assets.Andi Tenri Dala Fajar, Corporate Secretary of MNC Energy Investments, said that the plan regarding this bonds issuance will be decided during the Extraordinary General Shareholders Meeting on June 16, 2023. "It is intended to reinforce the capital and financial structure of the company," he confirmed in the information disclosure quoted Thursday (11/5).The total value of the bonds will be equal to 126.53% of IATA's own equity of USD 75.35 million, as recorded in December 2022.The company manages PT Bhakti Coal Resources (BCR), the holding company of 8 coal mining companies with Mining Business Licenses in Musi Banyuasin, South Sumatra, claiming a total area of 72,478 Ha for 9 mining licenses. The area includes the ones owned by PT Bumi Sriwijaya Perdana Coal (BSPC) with projected coal resources of 147.7 million MT, PT Putra Muba Coal (PMC) of 76.9 million MT, and PT Indonesia Batu Prima Energi (IBPE) of 31.3 million MT. Furthermore, they have projected coal reserves of their own, of 92.3 million MT, 54.8 million MT, and 17.3 million MT, respectively.On top of this, PT Arthaco Prima Energi is expected to begin operating this year. Meanwhile, PT Energi Inti Bara Pratama, PT Sriwijaya Energi Persada, PT Titan Prawira Sriwijaya, and PT Primaraya Energi are under preparation to start operating this year and in 2024. Now, according to BCR's data, the estimated total resources clock up to 1.58 billion MT. (LK/ZH)Source: https://www.idnfinancials.com/news/46837/mnc-energy-issue-bonds-idr

PT Adaro Minerals Indonesia Tbk (ADMR), a subsidiary of PT Adaro Energy Tbk (ADRO) continues to drive downstream minerals through an aluminum smelter construction project in North Kalimantan (Kaltara). The smelter is targeted to be completed in the second quarter of 2025. For information, ADMR is developing an aluminum smelter through PT Adaro Indo Aluminum (AIA). AIA then established PT Kalimantan Aluminum Industry (KAI) in 2022 with a 65% stake to run an aluminum smelter project in Kaltara. Apart from AIA, KAI shares are also held by PT Cita Mineral Investindo Tbk (CITA) as much as 12.5% and Aumay Mining Pte. Ltd as much as 22.5%.Director of Adaro Minerals Indonesia Wito Krisnahadi said that the construction of the ADMR aluminum smelter in North Kalimantan is still ongoing. This project has an investment requirement of up to US$ 2 billion, which is separate from ADMR's regular capital expenditure (capex). ADMR has also finalized the smelter financing with several banks. However, this issuer is reluctant to reveal the names of the banks in question. "We should have signed or finalized it before the second quarter ended," said Wito in a press conference, Wednesday (10/5). In the early stages, the smelter is expected to produce around 500,000 tons of aluminum ingots per year which can then be increased to 1.5 million tons per year. To produce aluminum, ADMR requires an alumina supply of 1 million tonnes per year.Wito said ADMR had signed a Memorandum of Understanding (MoU) with a number of local alumina producers and traders to supply alumina to the smelter. The finalization or certainty of alumina supply for ADMR will be known about one year or six months before the Commercial Operation Date (COD) of the smelter in Kaltara. "About 50% of the supply comes from local, the rest from traders. But this is just an MoU because our COD smelter is still two years away," explained Wito. On the same occasion, President Director of Adaro Minerals Indonesia Christian Ariano Rachmat added, so far Indonesia has had a high dependency on aluminum imports. Within a year, Indonesia's aluminum imports could reach 1 million tonnes."If the price of aluminum is US$ 2,500 per ton, Indonesia can spend US$ 2.5 billion a year to import this product," he said. Such conditions cannot continue to occur because it will erode the national foreign exchange. Therefore, if the first phase of the ADMR smelter construction is completed, it is hoped that aluminum imports will be cut by half from the initial amount.Source: https://industri.kontan.co.id/news/adaro-minerals-indonesia-admr-genjot-penyelesaian-pembangunan-smelter-aluminium

PT Timah Tbk (TINS) this year will focus on allocating capex to increase mining production. This state-owned issuer has prepared capex funds worth approximately IDR 950 billion. TINS Corporate Secretary Abdullah Umar Baswedan said the funds came from internal sources as well as bank loans. "This year's capital expenditure, it is clear that the allocation is focused on the maintenance of production vessels. One of them is also to increase industrial tin production and support downstreaming. Our concern is increasing production for downstreaming," Abdullah told media crew in Jakarta, Wednesday (10/5) .Abdullah continued, this capex value is also part of the strict efficiency carried out by the Company. This year's capex budget is really channeled into activities to increase production, both for increasing metal production, tin ore and its derivatives. Meanwhile, TINS targets to increase tin ore production by 30% to 35% this year. As an illustration, tin ore production throughout 2022 will reach around 20,000 tons.Meanwhile, in the first quarter of 2023 TINS recorded a decrease in tin ore production of 4,139 tons, down 8% compared to the same period the previous year of 4,508 tons. Even metal production fell 18% to 3,970 tons in the first quarter of 2023 from 4,820 in 2022. Also sales of tin metal fell 26% to 4,246 tons from 2022: 5,703 tons. Responding to this, TINS explained that the decline in production occurred because world metal prices were still high and the ecosystem was considered not good. "We hope that by increasing production, prices can also improve," added Abdullah.Abdullah also said that this decline was caused by illegal mining activities. According to him, this causes environmental damage and an unhealthy economic climate. "With this, we hope that in the future, the tin ecosystem in Indonesia can be better so that healthy mining can be created and production can increase again," he said. Furthermore, in the first quarter of 2023 TINS recorded a decrease in revenue and net profit. TINS pocketed a profit of IDR 50.278 billion or a 91.6% drop in the first quarter of 2023 compared to the same period in 2022 which was IDR 601.46 billion.Income items fell 50.5% to Rp 2.171 trillion. In detail, tin metal sales fell 51.7%, remaining Rp 1.732 trillion. Not much different, tin chemical sales fell 62.7%, remaining Rp 176.43 billion. Coal sales increased 46.9% to Rp 78.955 billion. Then, sales of tin solder shrank 29.4% to Rp 79.596 billion. The company's assets as of March 2023 shrank to IDR 12.85 trillion from IDR 13.06 trillion in December 2022. Liabilities fell to IDR 5.80 trillion in the first quarter of 2023 from IDR 6.02 trillion the previous year. Meanwhile, equity until March 2023 rose to Rp 7.05 trillion compared to December 2022's position of Rp 7.04 trillion.Source: https://industri.kontan.co.id/news/fokus-tingkatkan-produksi-timah-tins-siapkan-capex-rp-950-miliar-pada-tahun-ini

PT ABM Investama Tbk is pursuing an increase in overburden removal (OB) volume to a level of 300 million bank cubic meters (bcm) in 2024. Along with this ambition, the issuer codenamed ABMM stock has budgeted US$ 250 million - US$ 300 million capital expenditure (capex) to support its heavy equipment purchase expansion agenda this year.ABMM Director, Adrian Erlangga said, his party had ordered heavy equipment at the beginning of the year. However, he did not specify the exact number of heavy equipment that ABMM had ordered or wanted to order this year. "Realized capex in the first quarter of 2023 is around US$ 100 million," Adrian said when met by reporters after the company's public expose event, Wednesday (10/5).ABMM's overburden removal performance continues to increase from time to time. The ABMM report shows that ABMM's overburden removal volume has increased in the last three years. In 2020, the realization of ABMM's overburden removal was in the position of 139.67 million bcm. This realization then rose 28% to a level of 178.56 million bcm, then again rose 14% to 202.90 million bcm in 2022.Meanwhile, ABMM's overburden removal volume in 2023 is planned to increase by 25% compared to the realization in 2022. In the first three months of 2023, the realization of overburden removal has again shown an increase to the level of 91 million bcm along with an increase in coal sales volume in other business lines, namely the coal mine. As a result, ABMM's revenue in the first three months increased 35.28% on an annual basis or year-on-year (YoY) from US$ 286.70 million in the first quarter of 2022 to US$ 387.86 million in the first quarter of 2023.Most of the revenue, which amounted to US$ 321.45 million or approximately 82.87% of which came from revenue in the mining contractor and coal mining segments. As revenue increased, profit for the year attributable to owners of the parent entity, aka ABMM's net profit, skyrocketed 233.55% YoY from US$ 31.78 million in the first quarter of 2022 to US$ 106.03 million in the first quarter of 2023. "Our growth is driven by mining contracting, so mining contracting always requires new tools for its growth and we are continuously investing in new tools and replacement tools from those that have run out," said Adrian.Taking a peek at the company's interim financial reports, ABMM's End of Year Cash and Cash Equivalents were in the position of US$ 266.23 million as of March 31, 2023. This amount increased by 20.16% compared to ABMM's Cash and Cash Equivalents at the Beginning of the Year which amounted to US$ 221.56 million.Source: https://industri.kontan.co.id/news/abm-investama-abmm-incar-volume-overburden-removal-300-juta-bcm-pada-tahun-2024