PT MNC Energy Investments Tbk (IATA), through one of its subsidiaries, PT Bhakti Coal Resources (BCR), has signed a coals sales agreement worth USD 108 million.Aside from BCR, the involved parties in said deal include SAII Resources Pte Ltd, Visa Resources Pte Ltd, and CPTL Pte Ltd. In this agreement, BCR acts as the seller, while the other three are the buyers.According to the contract, the amount of coals provided by BCR for SAII Resources and Visa Resources is 500 thousand metric tons (MT) each, which is worth USD 27.11 million. Meanwhile, the amount of coals for CPTL is 1 million MT worth USD 54.21 million in total.On top of this purchase, CPTL will invest USD 10 million in the construction of hauling road and port conveyor of PT Bhumi Sriwijaya Perdana Coal, one of BCR’s subsidiaries. This investment is intended to boost production and transportation efficiency.“The company will gain extra revenue of USD 108.42 million from these three contracts and will continue to keep an eye for more contracts in the future, as the production increases,” the management of IATA stated in the official disclosure.Based on idnfinancials.com data, IATA had sold 1,79 million MT of coals in the first half of 2022. It is equal to approximately 98% of the total coals sold in the entire year in 2021.Source: https://www.idnfinancials.com/news/44379/iata-secures-coals-sales-contract-worth

PT Aneka Tambang (Persero) Tbk (ANTM) or Antam targets the signing of a joint venture (JV) with PT Ningbo Contemporary Brunp Lygend Co., Ltd .(CBL) and LG Energy Solution for the development of electric vehicle batteries (EV batteries) in the fourth quarter of 2022."We have signed a framework agreement, but it is not final. Therefore, we are pursuing it so that it can deliver this year. God willing, we can sign until the JV agreement," Nico said recently.Until now, continued Nico, the company is still in the process of calculating resources. Because, from the signing of this JV, there will be resources that are converted into reserved. That's why the company doesn't want to rush to take approval." This must be calculated because later it will divest as much as 49% of our resources. We still have the majority but CBL and LG will have 49% of the resources or reserved later. From that result, then we will be able to monetize," added Nico.Through this method, according to Nico, the company will get equity for capital participation. "So, later for the construction of smelters through the Rotary Kiln Electric Furnace (RKEF) and High Pressure Acid Leaching (HPAL) systems, we do not need to spend additional capital," he said.Meanwhile, the investment value of the construction of smelters with RKEF and HPAL technology, Nico revealed that his party could not mention because the finalization process was still being carried out.In the strategic partnership between Antam and the two top players of the world's battery industry, Nico stated that Antam only acts as a supplier of nickel ore for the main raw materials of the battery industry. "So, this is what we are going to do our cooperation with CBL and LG," he said.Regarding the JV signing target, President Director of Indonesia Battery Corporation (IBC) Toto Nugroho also added that the stages to date are in the process of transferring aspects of mining business permits (IUP) to the JV mining stage."Insyallah, the fourth quarter of 2022 has carried out signatures for the mining side. In terms of mining side partners, they (CBL and LG) will create a JV and start for Engineering, Procurement, and Construction (EPC)," said Toto.Source: https://investor.id/market-and-corporate/307470/antam-antm-bidik-perusahaan-patungan-cbl-dan-lg-diteken-kuartal-iv2022

Mining Industry Indonesia (MIND ID) or State-Owned Enterprises (BUMN) Holding the Mining Industry continues to strive for the construction project of the Smelter Grade Alumina Refinery (SGAR) plant in West Kalimantan (Kalbar) to run smoothly. MIND ID Director of Operations and Production Danny Praditya said, as the parent or holding of the mine, MIND ID is committed so that the company's downstream process remains a priority, regardless of the challenges that exist. "As a holding, MIND ID will continue to encourage PT Bintan Alumina Indonesia (BAI) through PT Indonesia Asahan Aluminium (Persero) or Inalum and PT Antam Tbk (Antam) to be able to complete what has been initiated before completely," said Danny in a Joint Hearing Meeting (RDP) together with Commission VII of the House of Representatives (DPR) of the Republic of Indonesia (RI), Tuesday (20/9/2022). First in Southeast Asia In his presentation, Danny explained, his party will continue to build coordination with the Ministry of SOEs and explain the existing progress. "Currently, the actual progress is at 14.56 percent," Danny said in a written statement Tuesday. He explained, on Monday (19/9/2022), the Ministry of SOEs had facilitated PT BAI to meet with Engineering Procurement Construction (EPC) contractors. Then from the EPC, he said, there will be a proposal for an overhaul of portions and finished work that will be validated by third parties until the deadline in October 2022. President Director (President Director) of MIND ID Hendi Prio Santoso said that his party had prepared mitigations related to the follow-up of the SGAR project until the deadline in October 2022.Source: https://nasional.kompas.com/read/2022/09/20/18504231/mind-id-dorong-inalum-dan-antam-selesaikan-pembangunan-pabrik-smelter-di

PT Bayan Resources Tbk (BYAN), a coal mining company, collected a net profit of USD 970.76 million in the first half of 2022.BYAN’s net profit recorded in H1 2022 was 188% higher than the numbers seen in the same period last year. In H1 2021, the company’s net profit was capped at USD 337.05 million.BYAN’s net profit surge in H1 2022 was propelled by its revenue, which clocked up to USD 2 billion. It was approximately twofold of the revenue reported in H1 2021, which only reached USD 1.02 billion.For more detail, BYAN’s revenue in H1 2022 was still dominated by the income generated from the coal mining segment. The coal business line generated USD 2 billion, while non-coal segments only turned in USD 3.63 million of revenue.Until June 30, 2022, BYAN’s total assets reportedly reached USD 2.51 billion, while its total equity amounted to USD 1.82 billion. (KR/ZH)Source:  https://www.idnfinancials.com/news/44290/bayan-resources-profit-soared-h

PT United Tractors Tbk. (UNTR) absorbed capital expenditures reaching IDR 3.9 trillion until July 2022 from the total target of IDR 11 trillion - IDR 11.5 trillion this year. The Astra Group issuer focuses on using the company's internal cash for capital expenditures. UNTR Director Iwan Hadiantoro said that UT's current capex until July has spent IDR 3.9 trillion. "Most of it or IDR 3.5 trillion we spend in the mining contracting segment for new equipment to support heavy equipment activities, while the rest is for infrastructure improvements in gold mines," said Iwan in a public expose, Monday (12/9/2022). This year, UNTR prepared a capital expenditure budget of around Rp11 trillion - Rp11.5 trillion mostly for the purchase of heavy equipment. The details are IDR 9 trillion for mining contracting in Pama Persada (PAMA), IDR 1.5 trillion for the Agincourt gold mine, and the rest for other businesses. "We spend the source of funds from internal cash. From UNTR's financial statements, we have a very sufficient cash position to support capital expenditure," said Iwan. For banking syndication, UNTR said that currently the banking facilities owned by the group are sufficient. "We already have standby facilities from several banks, for future UNTR acquisition projects," he explained. UNTR Director Iman Nurwahyu added that the absorption of capex in the first semester was still far from the target. However, with the supply of heavy equipment about to increase in the second half, most of the purchases from the mining contracting business will be made in the second half. "Slowly their output from Komatsu factories across the country is shifted for the Indonesian market, so our subsidiary will get a stronger allocation maybe in the fourth quarter of 2022, so capex will be absorbed dominantly there," he explained. Source: https://market.bisnis.com/read/20220912/192/1576701/united-tractors-untr-serap-capex-rp39-triliun-pakai-kas-internal

Nickel Industries (ASX:NIC) this morning announced a major increase in resources at the Hengjaya mine in Indonesia, positioning the ASX-listed company as one of the world's leading suppliers of nickel for stainless steel and batteries.With the launch of the Angel Nickel project and the Oracle RKEF plant under construction, the fast-growing nickel producer expects to become one of the top 10 nickel metal suppliers globally by 2023, with a 100% nameplate capacity of 130,000 tons of nickel in Nickel Pig.NIC is very focused on the rotary furnace electric furnace line built in a fast time with the help of China Xingshan's major partners and stainless-steel companyBut his Hengjaya mine contains 300Mt of ore with an average of 1.22% nickel and 0.09% cobalt, 3.7Mt of nickel metal, and 270,000t of cobaltConsisting of 1,784 hectares of the 5,983 hectares of Hengjaya concessions, new resources increased by 333% tons, resources increased by 20% and guessed resources increased by 53%.This comes from drilling covering a grade of 6.36%, which should be used to avoid overestimating resources with a very high statistical cut of 2.42-2.91% nickelNIC's high-grade saprolite resource of 72Mt, 1.8% nickel, will be used to supply 8.8Mt of ore per year to hengjaya, ranger, and oracle plants, with Hengjaya expected to supply 3.5-4Mt per year once the road is connected. Mining for industrial areas is completed.Source: https://suarapalu.com/groundbreaker-tambang-nikel-indonesia-milik-nickel-industries-sekarang-menjadi-salah-satu-dari-10-deposit-terbesar-di-dunia/

Cokal (CKA) has hit a new milestone at the Bumi Barito Mineral (BBM) coking coal mine.Cokal is an Australian listed company which aims to become a metallurgical coal producer with a global presence.It has interests in four projects in Central Kalimantan, Indonesia, with each considered prospective for metallurgical coal. The BBM site is held jointly by Cokal and the Government of Indonesia.The company’s contractors have now begun overburden removal in the Pit 3 Mining Area, which was originally scheduled to commence in late August.Cokal told shareholders that as part of the development of BBM a test pit had been undertaken to verify the coal formations, provide guidance for mining the first cut, and confirm the quality of the coal.Meanwhile, the haul road is continuing to be upgraded, while the Krajan Jetty preparation is nearing completion.  Cokal said development is continuing to advance rapidly, with first saleable coking coal production on track for September 2022.Source: https://themarketherald.com.au/cokal-asxcka-achieves-new-milestone-at-bbm-mine-indonesia-2022-09-14/

The Indonesian Association of Mining Experts (Perhapi) affirmed their support for the Indonesian government to continue its downstream program amid the threat of a European Union lawsuit to the World Trade Organization (WTO). Perhapi Chairman Rizal Kasli said that whatever the WTO decision, Indonesia continues to optimize its resources for the advancement of domestic industry. "If Indonesia loses or has to reopen the nickel export tap, there are still many things that can be done so that downstreaming continues. Indonesia will not easily export nickel ore, which is currently the target of various countries," he said in a statement in Jakarta on Tuesday. Rizal revealed that Indonesia was given an excess of existing resources, so that the potential must be used optimally for the progress of the nation and state. According to him, if the government has signaled that it will increase tariffs on ore exports, it is only one way for ore exports to be unattractive or unprofitable and there are still several other steps that can also be taken by the government. "Whatever the WTO decision will be, the most important thing that must be maintained is the certainty of the current investment. The government must secure the nickel ore supply chain against industries that have been and will grow, namely smelters and refineries," rizal said. In addition to increasing export tariffs, the government can also regulate the amount of production through the Work Plan and Budget (RKAB) of mining permit holders. The Ministry of Energy and Mineral Resources can limit production in order to maintain the life of domestic nickel reserves. In addition, said Rizal, as has been done in coal, the government can also implement Domestic Market Obligation (DMO) obligations for nickel mining production permit holders. This must be done to ensure that the needs of the country can be met. Nickel downstreaming that has been running should get a guarantee that the plant will not be in short supply. "These policies will boil down to exports becoming unattractive, and industries that have grown will certainly continue to grow. On the other hand, economically, industries that are close to raw materials will be more profitable," explained Rizal. Rizal said that the demands of the European Union must also make the government aware of the certainty and convenience of investing. Indonesia, has issued various permits to investors, but in its implementation there are still many obstacles in the field. Not infrequently, the permits that have been issued cannot be implemented because there is no support in the regions. Legal certainty of permits is sometimes a question in itself. "We already live in a world without borders, so every investor can choose wherever he will invest. For this reason, the government must also improve and not just ban or tighten the export of raw materials," said Rizal. He said that the creation of an investment climate that is comfortable and safe and has legal certainty must be carried out. Synchronization and harmonization of the pusat and regions, the control of illegal mining, the ease and speed of managing permits, and the support of implementation in the field should be priorities. "In essence, investors are present because of comfort and desire, not compulsion," rizal said. Currently, the construction activities of nickel plants with pyrometallurgy technology are increasingly massive, on the one hand, causing concerns about high-grade nickel reserves. Based on the calculations of the Ministry of Energy and Mineral Resources, if further exploration is not carried out, and the reserves do not increase, the reserves will only be able to supply the needs of the plant for about seven years. If the export tap is opened, it is actually dangerous because it is related to the sustainability of the nickel-based industry which is already running well in Indonesia considering that nickel downstream activities have had a large multiplier effect in the form of increasing foreign exchange, increasing gross domestic income, employment, as well as state and regional revenues.Source: https://www.antaranews.com/berita/3114353/perhapi-dukung-indonesia-melanjutkan-hilirisasi-nikel

PT Bukit Asam Tbk (PTBA) is eyeing coal production of 35.5 million tons throughout 2022 from five Mining Business Permits (IUP) in Tanjung Enim, South Sumatra. This target refers to the Company's Work Plan and Budget (RKAP) this year.Assistant Vice President of PTBA Air Unit Laya Suratman said that the RKAP would be donated from five Tanjung Enim Mining Units (UPTE), namely The Laya Water Mine, Muara Tiga Besar, Banko Barat, Banko Tengah Block A and Block BThe details are that the Laya Water Mine unit is targeted to produce 7.75 million tons so far this year. Then, the Big Three Estuary is targeted to gain 8.5 million tons of coal.Then the Banko Barat mining unit was targeted to produce 7 million tons of coal. Meanwhile, Banko Tengah Block A and Block B as a whole are expected to produce 12.25 million tons."In accordance with the RKAP, the total production of UPTE reached 35.5 million tons at the end of the year," Suratman explained to reporters at the Air Laya Mining Unit, Monday (12/9).As for the entire first semester of 2022, the total coal production of this red plate issuer has reached 15.9 million tons. This realization grew by 20% from 13.3 million tons in the previous year.Since the beginning of September 2022, upte's cumulative coal production has reached 1.13 million tons as of Monday (12/9). For september, PTBA set a production target of 3.9 million tons.If you refer to KRAP, the target in September is 3.6 million tons. However, PTBA's Assistant Manager of Mine Information Control, Suherman said that after internal discussions, the production target was scraped. Indeed, the production achievement is only around 28.86% of this month's target. However, PTBA does not deny that there is a slowdown due to the rains that have poured down on UPTE in recent days. "We've been a bit behind as of today because the weather this month is out of our control. The trend in a week or two is raining," Suherman said.Source: https://industri.kontan.co. en/news/throughout-2022-bukit-asam-ptba-target-production-355-million-tons-of-coal

PT Freeport Indonesia said that PT Aneka Tambang Tbk (ANTM) will take 30-50 tons of gold produced from Freeport's new copper smelter in Gresik, East Java. President Director of PT Freeport Indonesia Tony Wenas said this during a Hearing Meeting (RDP) with Commission VI of the House of Representatives of the Republic of Indonesia, Monday (12/09/2022).Tony said, the progress of smelter construction in Gresik in 2022 is targeted to reach 50% or with costs to be incurred of US $ 1.5 billion or around Rp. 22.3 trillion (assuming an exchange rate of Rp. 14,900). The smelter project, which processes 1.7 million tons of copper concentrate, is targeted to be completed in December 2023, then continued with trials or commissioning, so that it is targeted to start producing gold in May 2024. "For the product, the offtaker (buyer) for gold is planned for Antam to buy. So, our gold which will be produced 30-50 tons per year will be offtake by Antam and sulfuric acid will be offtake by Petrochemical Gresik and Pupuk Indonesia. Meanwhile, the copper slag will be taken by Semen Gresik and Semen Indonesia," he explained in a Hearing Meeting (RDP) with Commission VI of the House of Representatives of the Republic of Indonesia, Monday (12/09/2022). Tony explained, if this new smelter operates, it means that Indonesia will have additional copper cathode production to 500-600 thousand tons per year from the current 300 thousand tons of copper cathode per year. Nevertheless, from the current production of copper cathodes alone, about 50% or about 150 thousand tons are still exported because they are not absorbed by domestic industries. Therefore, he requested that the copper cathode absorbing industry in the country be built and developed, so that the copper cathode production from their smelter could be absorbed by the domestic industry. "If the downstream industry does not grow, this will be 100% exported as well. So, this is an opportunity that unfortunately that this should then attract even more downstream investors, for example electric car cable factories and renewable energy," he said. Tony said, until the end of July 2022, the physical construction of the Gresik smelter has reached 36.2% and has absorbed US$ 1.2 billion from the total investment until the end of US$ 3 billion or around Rp. 45 trillion. In this year the number of construction workers has reached 5, 000 people and by 2023 it is expected to increase again to 10 thousand people. As for the peak construction, it is estimated that it requires up to 15 thousand workers, of which almost 100% are Indonesian Workers (TKI) and 50% of them are local workers from East Java. As is known, on October 12, 2021 President Joko Widodo (Jokowi) inaugurated the initial process of building Freeport's new smelter (groundbreaking) plant in the Gresik Special Economic Zone (SEZ), East Java. The president also expressed his pride. The reason is, if this smelter has been built, then this will become the largest single line smelter in the world. "We have received reports that the smelter to be built is with a single line design, the largest in the world," said Jokowi, on Tuesday (12/10/2021).Source: https://www.cnbcindonesia.com/news/20220912131335-4-371303/antam-bakal-angkut-50-ton-emas-freeport/amp