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10 Jun 2022, 09:12 AM

Merdeka Copper Prepares USD 390 Million Capex until Mid 2023

www.kumparan.com
2140 Views
This year is the momentum for PTMerdeka CopperGold Tbk (MDKA) boost performance. The company has prepared a capital expenditure (capex) of USD 390 million until mid-2023 to finance a number of projects."We are preparing the required capex for existing operations . Regarding investment projects, we estimate that we will invest USD 50 billion for feasibility studies and start drilling for gold mines during 2022," said MDKA Director David Thomas Fowler in a public expose, Friday (10/6).MDKA currently has several main assets, namely the Tujuh Bukit Copper Project, the Nickel Mining and Refining Asset Project, the Pani Gold Project, and the Wetar Acid Iron Metal Project in Morowali.Other assets in the form ofMineGoldSeven Hills, Wetar Copper Mine. The Tujuh Bukit Copper Project is one of the world's top undeveloped gold and copper mineral resources, containing approximately 8.2 million tonnes of copper and 28.6 million ounces of gold.PT Bumi Suksesindo Seven Hill gold mine area, a subsidiary of PT Merdeka Copper Gold Tbk (MDKA) in Banyuwangi, East Java, Monday (23/7/2018) Photo: Ema Fitriyani/kumparan"At the Tujuh Bukit Gold Mine, gold production in 2022 is expected to be in the range of 100k to 120k gold ounces with an AISC of USD 1,000 to USD 1,100 per ounce gold," said MDKA Deputy Director Simon James Milroy.During the first quarter of 2022, the company has successfully acquired 50 percent ownership of Lion Selection Asia Limited (LSA) in PT Pani Bersama Jaya (PBJ), which has increased MDKA's economic ownership in the Pani Gold Project to 70 percent.MDKA has also completed the acquisition of a 55.67 percent stake in PT Hamparan Logistik Nusantara through its subsidiary, PT Batutua Tembaga Abadi. HLN has acquired a nickel mining project with the world's largest nickel ore reserves and operating nickel refining assets.Source: https://kumparan.com/kumparanbisnis/merdeka-copper-siapkan-capex-usd-390-juta-hingga-pertengahan-2023-1yFKEk0WkEK/full
News
10 Jun 2022, 08:02 AM

Kapuas Prima Coal (ZINC) Intensify Production of First Lead Smelter in Indonesia

www.industri.kontan.co.id
2158 Views
PT Kapuas Prima Coal Tbk ( ZINC ), a listed base metal producer in Indonesia, continues to intensify lead smelter production, which has been trialled since early 2022. This is one of ZINC's efforts to support the mineral downstream process set by the Government.Previously, the Government had started to implement export ban regulations for certain mineral commodities that did not meet the purification level. Therefore, business actors in the mining sector are required to immediately complete the smelter project within the given time limit in order to continue to receive an export quota.ZINC as one of the issuers that produces metallic minerals ranging from lead, zinc and iron ore, continues to carry out various efforts to realize the regulations made by the Government. Where, ZINC has completed the construction of one of the smelters, namely the lead smelter, and has started commercial operations in early June 2022.In addition, ZINC is currently pursuing the completion of a zinc smelter which is targeted to be completed in the second quarter of 2023. Evelyn Kioe, as Director of ZINC, expressed her gratitude because this year she was able to complete one of the lead smelters in Central Kalimantan."Despite being constrained by Covid-19, at the beginning of this year we finally started to test production and in May 2022, the lead smelter has been verified 100% by PT Surveyor Indonesia and PT Kapuas Prima Citra officially operating commercially. As the first lead smelter and the only one in Indonesia, we target this year the lead smelter can produce up to 8,000 tons of lead bullion (Pb), with a sales target of the smelter reaching USD 29 million," he said in an official statement received by Kontan, Friday (10/6).Meanwhile, for the ZINC zinc smelter, currently the construction process has reached around 85%. Later, the smelter is targeted to produce up to 30,000 tons of ingots per year. The existence of the Company's zinc smelter is expected to help meet the demand for zinc commodities in the country, where until now this commodity is still 100% imported.On the other hand, until the first quarter of 2022, ZINC recorded sales of Rp. 204.5 billion. ZINC's revenue in the first quarter of 2022 was still dominated by sales of zinc (Zn) commodities with a contribution of IDR 95.1 billion, while sales of lead (Pb) commodities reached IDR 31.6 billion. ZINC's revenue also came from sales of silver commodities amounting to Rp39.2 billion, as well as sales of iron concentrate which was recorded at Rp38.6 billion."We are optimistic that, with the economy starting to recover and Covid-19 increasingly under control, ZINC can continue its good performance growth until the end of 2022. Supported by commodity prices that are still stable, we are optimistic that we can achieve our sales target of up to IDR 1.2 trillion by 2020. 2022," Evelyne concluded.Source: https://industri.kontan.co.id/news/kapuas-prima-coal-zinc-gencarkan-produksi-smelter-timbal-pertama-di-indonesia
News
08 Jun 2022, 10:10 AM

Agincourt Resources Preserving the Environment

www.beritasatu.com
1711 Views
PT Agincourt Resources (PTAR), the manager of the Martabe gold mine , confirmed its commitment to preserving the environment, through the planting of 200 tree seedlings with the local government and community leaders, centered at SMKN 2 Mining Batangtoru, South Tapanuli Regency, Sumatra. North, Monday (6/6/2022). The tree planting activity was also accompanied by the delivery of 1,200 tree seedlings to communities around the Batangtoru and Muara Batangtoru mines.General Manager Operations of PT Agincourt Resources (PTAR) Rahmat Lubis, said that nature conservation is a series of efforts to protect the ability of the environment against the impacts of climate change. "It is our collective responsibility to protect it," he said in a written statement on Wednesday (8/6/2022).The action of PT Agincourt Resources was carried out in commemoration of World Environment Day 2022 with the theme "Only One Earth" which was declared by the United Nations Environment Program (UNEP). This theme is an appeal to preserve the earth for a shared future while at the same time highlighting the need for sustainable living in harmony with nature.Meanwhile, the Ministry of Environment and Forestry (KLHK) has decided to use the theme “One Earth for the Future.”To date, PT Agincourt Resources has planted more than 41,000 tree seedlings. In the PTAR nursery facilities, more than 5,000 local plant seeds have also been prepared."PT Agincourt Resources is committed to managing the environment and biodiversity in accordance with good mining principles, we are also working with several universities in the fields of education, science, research, and biodiversity conservation," said Rahmat.The universities in question include the Bogor Agricultural Institute (IPB), National University (Unas), North Sumatra University (USU), South Tapanuli Muhammadiyah University (UMTS), and Aufa Royhan University (UNAR) in Padangsidimpuan.In collaboration with the university, a number of activities have been held, including a survey of the composition and diversity of flora and fauna at the planned location of the Martabe Gold Mine development. In addition, pre-land clearing fauna inspection training was held with forestry experts from the USU Faculty of Forestry.The Regent of South Tapanuli, Dolly Pasaribu, emphasized that Environment Day is a reminder for all parties to be jointly responsible for preserving the environment. He gave his appreciation for the movement in society that aims to create a sustainable environment in South Tapanuli."We appreciate the commitment of PT Agincourt Resources (PTAR) as a mining company that shows its commitment to maintaining environmental sustainability," said Dolly.
News
07 Jun 2022, 07:43 AM

Mitrabara (MBAP) Ready to Deposit IDR 641.8 Billion

www.investor.id
1636 Views
Dividend season has arrived. Not to forget, PT Mitrabara Adiperdana Tbk (MBAP) will also distribute cash dividends worth a total of Rp 641.86 billion or Rp 523 per share. This was approved at the company's Annual General Meeting of Shareholders (AGMS), Tuesday (7/6/2022)."The AGM approved the use of the company's net profit obtained in 2021. Approved or ratified the distribution of dividends that had been carried out on October 15, 2021. Approved the plan to provide cash dividends for the financial year ending December 31, 2021," explained the Corporate Secretary Mitrabara Adiperdana Chandra Lautan to Investor Daily , Tuesday (7/6/2022).Throughout 2021, Mitrabara generated a net profit of US$ 100.56 million, up 266% compared to the previous year which was US$ 27.46 million. This profit came from revenues of US$ 309.84 million last year, which rose 53.99% from the previous year which was US$ 201.21 million.The operating profit margin in 2021 will reach 41.52%, an increase compared to 2020 which was 18.14%. Management explained that the increase was due to the Reference Coal Price (HBA) which reached US$ 215.01 per metric ton in November 2021, then closed at US$ 159.79 per metric ton in December 2021."The December 2021 HBA has increased by 167.88% compared to December 2020 which was at a position of US$ 59.65 per metric ton," explained the management. Meanwhile, for the first quarter of 2022, MBAP recorded a net profit of US$ 44.57 million, an increase of 204.98% compared to the first quarter of 2021 which was US$ 14.61 million. The increase was still obtained by the company, even though during that period there was a ban on exports, to be precise in January 2022.This is because the sales target for MBAP in the first quarter of 2022 is dominated by domestic markets with a portion reaching 32%, followed by South Korea with 26% and China with 22%. Whereas in the previous year, the majority of MBAP sales were aimed at China up to 45%, followed by South Korea at 20%. Coal sales to Indonesia are only 6% throughout 2021.However, the sale of the majority of coal to the domestic market did not erode the company's revenue and profit because the HBA applicable in the country also increased. "HBA has increased since early 2022, recorded at US$ 158.5 per metric ton in January 2022 and then continued to increase to US$ 203.69 per metric ton in March 2022," Chandra explained.This year, MBAP plans to produce 3.75 million tons of coal, a slight decrease compared to the production realization in 2021 which was 3.91 million tons. MBAP Director Syadaruddin said, as of March 31, 2022, the company had produced around 1.01 million tons of coal. “Our sales are more or less the same as coal production. For the revenue and net profit targets, considering that the price of coal is a commodity whose price is influenced by the market, the company has not been able to provide this information," said Chandra. (C02)Source: https://investor.id/market-and-corporate/296074/musim-dividen-telah-tiba-mitrabara-mbap-siap-setor-rp-6418-miliar
News
30 May 2022, 10:12 AM

MNC Energy (IATA) Proven Coal Reserves from 4 IUPs Increase to 201.32 Million MT

www.industri.kontan.co.id
1755 Views
The coal mine owned by PT MNC Energy Investments Tbk ( IATA ) has found additional reserves. Proven coal reserves from the 4 Mining Business Permits (IUP) owned by IATA increased to 201.32 million MT from the previous 158.68 million MT. According to the Indonesian Mineral Reserves Committee (KCMI), one of the IUPs recently acquired by IATA, PT Arthaco Prima Energy (APE) managed to find additional reserves of 37 million MT with a GAR of 2,500 – 3,250 kg/kcal in the APE drilling program Phases 1 and 2 on an area of ​​660 Ha, of the total area that can be explored is 15,000 Ha.IATA is also drilling for another IUP, PT Indonesia Batu Prima Energi (IBPE), and KCMI reported discovery of reserves for IBPE Phase 1 of 6.22 million MT with a GAR of 3,375 kg/kcal in an area of ​​960 Ha, of the total area that can be explored. an area of ​​15,000 ha. The other IUP coal reserves are PT Bhumi Sriwijaya Perdana Coal-N (BSPC-N) of 83.27 million MT and Putra Muda Coal (PMC) of 76.9 million MT. In total, the proven coal reserves from these 4 IUPs amounted to 201.32 million MT, an increase from the previous 158.68 million.  IATA management in the disclosure of information on the Indonesia Stock Exchange (IDX) on May 30, 2022 explained, using the average price of HBA coal from 2021 to May 2022, the mining activities of Arthaco Prima Energy and Indonesia Batu Prima Energi will generate a Net Present Value (NPV). ) of US$ 220.4 million and US$ 34.9 million, respectively, with an Internal Rate of Return (IRR) of 55.2% and 59.5%, Break-Even Point (BEP) of 7.29 million MT and 1.94 million MT, as well as Payback Period of 2.06 years and 1.54 years, respectively.The discovery of coal reserves and resources, admitted by IATA management, will continue to increase because the drilling of Arthaco Prima Energy and Indonesia Batu Prima Energi which is currently being carried out collectively, has not reached 15% of the total area that can be mined.  APE's Phase 3 drilling is scheduled for completion this quarter, while Phase 4 drilling is scheduled to be completed by the middle of the following quarter.Arthaco Prima Energy and Indonesia Batu Prima Energi each have an operating IUP of 15,000 hectares in Musi Banyuasin, South Sumatra. The APE mining site is only 12.5 km from the river and about 108 km to the transhipment area at Tanjung Buyut Port.  Meanwhile, the IBPE mining location is 5 km from the port and has the same distance of 108 km to the transshipment area at the Tanjung Buyut port. Both APE and IBPE are targeted to start production this year.Currently, other IUPs owned by IATA are PT Bhumi Sriwijaya Perdana Coal – South (BSPC-S), PT Primaraya Energi (PE), PT Titan Prawira Sriwijaya (TPS), PT Sriwijaya Energi Persada (SEP), and PT Energi Inti Bara Pratama. (EIBP) is said to still need further drilling.  Meanwhile, IATA management revealed that drilling activities are still ongoing and proven reserves will continue to grow if exploration results show new coal findings. IATA estimates that coal reserves for all IUPs are at least 600 million MT.Source: https://industri.kontan.co.id/news/cadangan-batubara-terbukti-mnc-energy-iata-dari-4-iup-naik-jadi-20132-juta-mt
News
29 May 2022, 18:12 PM

Adaro Energy's (ADRO) Strategy to Secure Heavy Equipment Needs

www.industri.kontan.co.id
1580 Views
PT Adaro Energy Indonesia Tbk (ADRO) has prepared a strategy to secure the need for heavy equipment in the company's operations.   ADRO's Head of Corporate Communication , Febriati Nadira said, ADRO performs regular heavy equipment upgrades and manages operations strategically to optimize the use of heavy equipment and increase operating productivity.This step is one of ADRO's strategies in securing the need for heavy equipment to support the company's operational activities. "As we did in 2021, we managed to maintain a 93% physical availability rate for the equipment, above standard operational parameters," said Nadira to Kontan.co.id (27/5).A little information, currently the demand for heavy equipment is high. This is illustrated, for example, by the disparity between the national production figures for heavy equipment and the existing demand. In an interview with Kontan.co.id some time ago, the General Chair of the Indonesian Heavy Equipment Industry Association (Hinabi), Jamalludin revealed that the national demand for heavy equipment in Indonesia is around 17,000 units per year. Meanwhile, domestic production is at the level of 10,000 units per year. "Meanwhile, there is currently no additional production capacity considering the significant fluctuation (demand) for heavy equipment," he said. This year, ADRO targets a production target of 58 million - 60 million tons of coal with a stripping ratio of 4.1x in 2022. With this target, ADRO targets income before interest, taxes, depreciation, and amortization aka Earning Before Interest, Taxes, Depreciation, and Operational amortization (EBITDA) of US$ 1.9 billion – US$ 2.2 billion.During the first quarter of this year, ADRO's total coal production volume has reached 12.15 million tons, down 6% compared to the realization in the first quarter of 2021. Meanwhile, ADRO's coal sales volume reached 12.20 million tons in the first quarter of 2022, down 3% compared to the realization in the first quarter of 2021.Despite recording a decrease in volume, ADRO's turnover grew to double digits in the first three months of this year. Citing the company's interim financial report, ADRO's operating income in the first quarter of 2022 reached US$ 1.22 billion in the first quarter of 2022. This number increased 76.98 percent compared to ADRO's realized operating income in the first quarter of 2021 which amounted to US$ 691.97 million.In line with rising revenues, profit for the period attributable to owners of the parent entity, aka ADRI's net profit, skyrocketed 457.61 percent year-on-year (yoy) from US$ 71.74 million in the first quarter of 2021 to US$ 400.07 million in the first quarter of 2022.Source: https://industri.kontan.co.id/news/jaga-kinerja-begini-strategi-adaro-energy-adro-amankan-kebutuhan-alat-berat
News
24 May 2022, 17:02 PM

Pertamina Lubricants Encourages Innovation to Help Pursue Coal Production Targets in Indonesia

www.industri.kontan.co.id
1650 Views
PT Pertamina Lubricants (PTPL), a subsidiary of PT Pertamina Patra Niaga Sub Holding Commercial & Trading Pertamina continues to innovate in line with the development of world machine technology. This is done to support coal production targets in Indonesia.  Nugroho Setyo Utomo, VP Sales & Marketing Domestic Industry PTPL said, with a coal production target in Indonesia of 663 million tons, of which around 498 million tons are allocated for the global coal market, PTPL is ready to support and contribute to this achievement through lubricant products that prime and the right lubrication solution.Nugroho said, Pertamina Lubricants, as the market leader in the lubricant industry in Indonesia, is committed to continuing to support the need for world-quality lubricants and guaranteed reliability with international standards for the coal industry.  "For more than 60 years, Pertamina's lubricants have consistently answered the various challenges of the industry in Indonesia by providing innovative industrial lubricant products adapted to the latest developments in engine technology through rigorous research, development and product testing," he said in an official statement, Tuesday (05/18/2019). 24/5).He emphasized that PTPL consistently presents industrial lubricant product innovations that encourage productivity and operational efficiency in the use of machines and heavy equipment such as Meditran & Meditran sx series, turalik, rored HDA series, and grease products. Not only that, PTPL produces industrial lubricant products with world standard quality and with approval and certification from world engine manufacturers.PTPL also provides after-sales service that prioritizes complete technical support and guaranteed quality and quality. This includes conducting studies on efficiency efforts, in-house training for consumers, and periodic visits by sales and field engineers to discuss lubrication problems and being responsible for providing direct assistance to consumers in the field.This is one of the supporting factors to ensure that industrial and heavy equipment operations work optimally which can increase the machine's life cycle in an effort to reduce maintenance costs and spare parts replacement so that productivity becomes more efficient. “Currently, the industrial sector needs to increase engine life cycles in an effort to increase efficiency. This can be realized with the support of appropriate and reliable industrial lubricant products," he continued.Apart from innovating, Pertamina Lubricant also supports one of the national coal conferences, namely the Indonesia Coal Mining Outlook (COC) 2022 which was organized by CoalMetalAsia Magazine and Petromindo.com on 18-19 May 2022 at the JW Marriott Hotel, Jakarta. This conference presents various speakers and invites coal industry players to come, gather and discuss with each other about the prospects for the global coal industry, supply and demand, as well as trade flows for the coal market prospects in China, India, ASEAN, Japan, Korea. South, and Taiwan, in addition to meeting the demand for domestic coal supply. Source: https://industri.kontan.co.id/news/pertamina-lubricants-dorong-inovasi-bantu-kejar-target-produksi-batubara-di-indonesia
News
24 May 2022, 08:23 AM

Bukit Asam Distributes Dividends from 100% Net Profit of IDR 7.9 Trillion

www.katadata.co.id
1563 Views
The state-owned coal mining company, PT Bukit Asam Tbk (PTBA) , has agreed to distribute a dividend of IDR 7.9 trillion for the 2021 financial year. The amount of dividends distributed is the entire net profit of the company throughout 2021. The distribution of dividends was agreed at the Annual General Meeting of Shareholders (AGMS) held this Tuesday (24/5). In addition to determining the distribution of company dividends, the issuer member of the Mining BUMN holding MIND ID also approved the ratification of the annual report along with the determination of salaries and bonuses for the company's directors and commissioners. Advertisement "At this GMS, the shareholders also agreed that there was no proposed change in the composition of the company's management," said Corporate Secretary of Bukit Asam, Apollonius Andwie, in a press statement, Tuesday (24/5).  PTBA posted a net profit of IDR 7.91 trillion or a 231% increase from the previous year's net profit of IDR 2.39 trillion. The top 5 reef-safe sunscreens for 2022 Apollonius said that this achievement was supported by solid operational performance throughout 2021, in line with global and national economic recovery which boosted demand for coal. Last year's operating income increased 69% to Rp 29.26 trillion from the 2020 turnover of Rp 17.33 trillion. Along with these achievements, the company recorded an increase in assets of around 50 percent from Rp 24.06 trillion as of December 31, 2020 to Rp 36.12 trillion by the end of 2021. "This net profit is also the highest net profit achievement in the company's history of operation," he said. Last year, PTBA recorded coal production of 30 million tons, with rail transportation of 25.4 million tons and coal sales of 28.4 million tons. As of December 31, 2021, coal prices also showed a strengthening compared to the previous year, with the average Newcastle coal price index of US$ 137.28 per tonne and the Indonesian thermal coal price index (Indonesian Coal Index/ICI) with an average of US$ $95.05 per tonne. On the other hand, the company also implements an efficiency strategy through optimal cost management in every line of business.Source: https://katadata.co.id/syahrizalsidik/finansial/628cea018aff9/bukit-asam-tebar-dividen-dari-100-laba-bersih-rp7-9-triliun
News
24 May 2022, 08:00 AM

Timah Earns Rp 1.3 T in Profit and New Board of Directors Structure

www.finance.detik.com
1498 Views
PT Timah Tbk held a General Meeting of Shareholders (GMS) for the 2021 financial year, Tuesday (24/5/2022). The Corporate Secretary, Abdullah Umar Baswedan, said that the GMS approved the change in management, both from commissioners and directors. In addition, PT Timah also reports consolidated financial statements that have been audited for the 2021 financial year. The company's net profit was recorded at Rp 1.3 trillion, an increase of 483% compared to the 2020 period which recorded a loss of Rp 341 billion. "The surge in net profit was supported by a decrease in cost of revenue," Abdullah said in a written statement from Timah, Tuesday (24/5/2022).Throughout 2021, Timah's cost of revenue was recorded at Rp 11.17 trillion, down 21% compared to 2020 which was Rp. 14.09 trillion. The company's EBITDA was recorded at Rp 2.9 trillion, up 150% compared to the previous year of Rp 1.16 trillion. "The reduced financial burden due to the deleveraging strategy and the company's ability to choose low-cost funding sources are among the supporting factors," he explained.Net Profit Margin (NPM) to 9% in 2020 is still minus 2%. Then the gross profit margin (GPM) was recorded at 24% in 2020, only 7% Furthermore, the solvency ratio from the Debt to Equity Ratio (DER) was recorded at 82% last year at 142%. Cash and cash equivalents showed a significant increase to Rp 1.78 trillion from the previous year of Rp 807 billion. Tin ore production in 2021 will be 24,670 Tons Sn, down 38% from the previous year of 39,757 Tons Sn, of which 46% came from onshore mining, and 54% came from marine mining.In the same year, tin production only reached 26,465 MTon or decreased by 42% from 2020 which was 45,698 MTon. With the average selling price of tin, which shot up 89% to US$32,619, the Company recorded sales of tin of 26,602 MTon, a decrease of 52% from the previous year of 55,782 MTon."Focus on increasing production volume, within the framework of achieving the RKAP target and also increasing the production of low-cost tin ore from offshore mining so that optimal profit margins can be maintained," he said.Source: https://finance.detik.com/bursa-dan-valas/d-6093948/timah-raup-laba-rp-13-t-dan-rombak-direksi-ini-susunan-terbaru

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