Abadi Nusantara (PACK) Acquires Two Mining Companies in North Konawe

Abadi Nusantara (PACK) Acquires Two Mining Companies in North Konawe

01 Oct 2025, 14:45 PM
Antareja Mahada Makmur Secures Coal Mining Services Contract from PT Dizamatra
Antareja Mahada Makmur Secures Coal Mining Services Contract...
06 Oct 2025, 15:03 PM
Baru Gold Advances Production Readiness - Designs, Prepares for Construction of Automated Gold Produ...
Baru Gold Advances Production Readiness - Designs, Prepares...
30 Sep 2025, 06:35 AM
PT Stargate Pacific Resources Opens Tender for Nickel Mining Services
PT Stargate Pacific Resources Opens Tender for Nickel Mining...
08 Oct 2025, 04:44 AM
Inalum Set to Finalize Acquisition of Antam’s Bauxite Mine by 2030
Inalum Set to Finalize Acquisition of Antam’s Bauxite Mine b...
29 Sep 2025, 04:48 AM
Previously Revoked, 499 Mining Licenses Reinstated
Previously Revoked, 499 Mining Licenses Reinstated
14 Nov 2024, 03:17 PM 3444

The Ministry of Energy and Mineral Resources (ESDM) has announced that 499 Mining Business Licenses (IUP) have been suspended after their licenses were previously revoked.Tri Winarno, Director General of Mineral and Coal at ESDM, confirmed that out of the 2,078 IUPs whose licenses were revoked by the Investment Coordinating Board (BKPM), 2,051 were officially canceled.Of the remaining IUPs, 596 requested to have their license revocations annulled, but 97 are still pending due to outstanding non-tax state revenue (PNBP) debts. As a result, 499 IUPs have been reinstated in the government system via the Minerba One Data Indonesia (MODI).596 IUPs that requested revocation cancellation, 97 have not met the requirements to be included in MODI due to outstanding PNBP debts," Tri explained during a hearing with Commission XII of the House of Representatives in Jakarta, as quoted on Thursday (14/11/2024)."Currently, the remaining 499 IUPs, which were canceled by BKPM, have been successfully entered into MODI," he added.Meanwhile, Minister of Energy and Mineral Resources Bahlil Lahadalia explained the rationale behind the restoration of several previously revoked Mining Business Licenses (IUPs).The government had initially revoked 2,078 IUPs deemed unproductive as part of efforts by the Investment Acceleration Task Force and the Land Use and Investment Structuring Task Force.Bahlil explained that when he first revoked these licenses, he faced questions because, at the time, he was serving as Minister of Investment, not Minister of Energy and Mineral Resources. However, he said that the decision was made in accordance with the directives of the Presidential Regulation (Perpres) and Presidential Decree (Keppres).“At that time, people asked me, 'If you're the Minister of Investment, why did you revoke the licenses?' I told them, ‘The Presidential Regulation and Decree mandated the revocation of land use through the Task Force, whether it's forests or HGUs,’” Bahlil said during a Working Meeting with Commission XII of the House of Representatives, as quoted on Thursday (14/11/2024).In the evaluation process, the government determined that around 500 licenses were eligible for restoration. Bahlil emphasized that this restoration is based on the principle of fairness, particularly for permit holders who have complied with the required terms and conditions.“We opened up the space to assess which licenses should be restored and which should not. That’s when the verification process took place,” he added.

Antam's Nickel Ore Production Estimated to Reach 11 Million Tons at the End of the Year
Antam's Nickel Ore Production Estimated to Reach 11 Million Tons at the End of the Year
13 Nov 2024, 03:30 PM 3945

PT Aneka Tambang Tbk. (ANTM) forecasts nickel ore production to reach 11-11.5 million metric tons by the end of 2024. This year, the state-owned mining company received a production license for up to 12 million tons of nickel ore.Arianto Sabtonugroho Rudjito, Director of Finance and Risk Management at Antam, stated that the company has received additional approval for nickel ore production from the government through the Work Plan and Budget (RKAB) for Q3 2024, which allows for 9 million tons of production."Currently, we have produced just over 7 million tons. In October, we received additional RKAB approvals for several new and additional Mining Business Permits (IUPs), which provide us with the opportunity to continue increasing production," Arianto explained on Wednesday (November 13, 2024).Arianto explained that this year, the company received a production license for up to 12 million tons of nickel ore."This means there is still room for about 3 million tons to reach the 12 million-ton target. However, due to time constraints, we will push as hard as possible. So, the maximum production will likely be around 11 million tons," Arianto emphasized.

SGER buys two million metric tons of coal from Merge Mining Industri
SGER buys two million metric tons of coal from Merge Mining Industri
13 Nov 2024, 03:28 PM 3296

PT Sumber Global Energy Tbk. (SGER) has entered into a Coal Offtake Agreement with PT Merge Mining Industri (MMI) to ensure a stable coal supply for its regular customers.Under the agreement, MMI, as the seller, intends to supply up to 2 million metric tons (MT) of coal to SGER, the buyer. The agreement will be overseen by PT Merge Energy Sources Development, which holds 172,045 shares in MMI.SGER's Corporate Secretary, Michael Harold, stated that the coal purchased by SGER from MMI has a Gross Calorific Value (GCV) specification of 6,300 kcal per kilogram (kg), with an ash content of 14 percent and a total sulfur content of 0.5 percent.This coal is produced from MMI's own mining area and is not mixed with or sourced from third-party producers.The coal will be delivered by the seller to SGER starting from November 2024 and no later than October 2028," Michael said in an official statement on Wednesday (November 13, 2024).Michael stated that the purpose of this offtake agreement is to ensure a stable coal supply for the company's customers. As a major coal trading company, SGER is committed to providing the highest quality coal at competitive prices.He also expressed optimism about the future prospects of coal, noting that it remains a key energy source, especially in developing countries like Indonesia and other Southeast Asian nations."Despite global pressure to transition to cleaner energy, coal demand remains stable, particularly from countries like India, China, and several other Asian nations that continue to increase their energy consumption to support economic growth," Michael explained.In a separate disclosure to the Indonesia Stock Exchange (BEI), it was mentioned that the contract volume between the company and MMI has the potential to generate revenue of up to IDR 3 trillion.The contract volume is 2 million metric tons, with a revenue potential of IDR 3 trillion," said Michael.As of Q3 2024, SGER reported revenues of IDR 10.88 trillion, a 14.30% increase compared to IDR 9.52 trillion in Q3 2023.Michael explained that the increase in SGER’s revenue for the first nine months of 2024 was driven by higher coal and nickel sales.Specifically, SGER's coal sales amounted to IDR 10.65 trillion, up 12.84% year-on-year. Meanwhile, nickel sales surged 211.96%, reaching IDR 228.52 billion, compared to just IDR 73.25 billion in the same period last year.

Huayou Cobalt seeks USD 2.7bn for Ford-backed nickel plant in Indonesia
Huayou Cobalt seeks USD 2.7bn for Ford-backed nickel plant in Indonesia
12 Nov 2024, 09:42 PM 3837

Zhejiang Huayou Cobalt is exploring options to secure approximately USD 2.7bn (19.33bn yuan) in financing for a nickel processing facility in Indonesia, backed by Ford Motor, Bloomberg reported, citing people familiar with the matter.The Pomalaa Block high-pressure acid leaching (HPAL) project is a collaborative effort between Zhejiang Huayou Cobalt, Ford Motor and Vale Indonesia, with the three companies making equity investments in the project.The project would process ore provided by PT Vale Indonesia’s Pomalaa Block mine to produce battery-grade nickel essential for electric vehicles (EVs).HSBC and Standard Chartered are leading the loan arrangements and are inviting other banks to contribute to the financing of the battery-nickel facility in south-east Sulawesi, people familiar with the matter said.Indonesia produces more than half of global nickel output and is said to have been attracting foreign investment to enhance its domestic processing capabilities.However, the fundraising efforts coincide with a period of subdued nickel prices, which are hovering near a four-year low, driven by reduced demand from the stainless steel sector and slower-than-anticipated growth in the EV sector.The Pomalaa plant is set to utilise HPAL technology to produce mixed hydroxide precipitate from low-grade nickel ores.With an expected annual output of 120,000 tonnes of nickel, the facility is poised to become one of the largest HPAL projects in Indonesia.Huayou disclosed in a December filing that the total investment for the project is estimated at around $3.8bn.Ownership of the project is divided among the partners, with Huayou holding a 73.2% stake, Vale Indonesia at 18.3% and Ford initially owning 8.5%, with an option to increase its share to 17% within a specified period.While the construction of the Pomalaa plant was projected to take roughly three years, Huayou has not yet provided an updated timeline.The company has, however, indicated that preliminary work on the project commenced earlier this year.

Bumi Resources Receives idA+ Rating from Pefindo
Bumi Resources Receives idA+ Rating from Pefindo
12 Nov 2024, 09:41 PM 4384

The rating agency PT Pemeringkat Efek Indonesia (Pefindo) has recently assigned an idA+ rating with a stable outlook to the mining company PT Bumi Resources Tbk (BUMI).This rating reflects BUMI’s strong business position in Indonesia’s coal mining sector.However, Pefindo also noted that this rating is constrained by several factors, including moderate operational costs, reliance on a single line of business, as well as risks related to commodity price fluctuations and environmental impact.“The rating could be raised if BUMI succeeds in reducing its cash costs, thereby improving the company’s profit margins and strengthening its operational management,” Pefindo stated in its report, quoted on Saturday (11/9/2024).BUMI also has the potential to further improve its rating if it can diversify its business and generate significant revenue from other sources, rather than relying solely on thermal coal.Conversely, if the company’s revenue or EBITDA falls significantly short of target, Pefindo warns that this could negatively impact BUMI’s capital structure and weaken its cash flow protection capabilities.A decline in coal prices would also put additional pressure on the company’s rating.“We may downgrade the rating if the company’s revenue or EBITDA falls well below target, which could worsen its capital structure and cash flow protection measures,” Pefindo added.For information, BUMI operates in the coal and gold mining sectors through its two subsidiaries, PT Arutmin Indonesia and PT Bumi Resources Minerals Tbk.The company also holds a 51% majority stake in PT Kaltim Prima Coal (KPC), one of Indonesia’s largest coal mining companies.As of June 30, 2024, BUMI’s shareholding structure comprises Mach Energy (Hong Kong) Limited with a 45.78% stake, HSBC-FUND SVS A/C Chengdong Investment Corp-Self at 10.68%, Treasure Global Investment Limited at 8.08%, and the remaining 35.46% held by the public.According to Pefindo’s assessment, BUMI has opportunities to improve its rating through more efficient cost management and revenue diversification.If successful, this would strengthen its position in the mining industry, though BUMI must remain cautious of commodity market and environmental risks.

China, Indonesia seal USD 10 billion in deals focused on green energy and tech
China, Indonesia seal USD 10 billion in deals focused on green energy and tech
12 Nov 2024, 09:39 PM 3037

China and Indonesia signed deals worth USD 10 billion at the Indonesia-China Business Forum in Beijing on Sunday, spanning sectors including food, new energy, technology, and biotechnology, Chinese state media reported.The forum followed a meeting on Saturday between Chinese President Xi Jinping and Indonesian President Prabowo Subianto, who is in China through Nov. 10, the first country he has visited since taking office last month.Prabowo, who won Indonesia's presidential election in February, also chose China for his first visit as president elect, underscoring Jakarta's commitment to stronger strategic ties with Beijing.In a joint statement after the leaders' meeting, the countries agreed to enhance collaboration in sectors such as new energy vehicles, lithium batteries, photovoltaics, and the digital economy.They also pledged to strengthen partnership on the global energy transition and jointly ensure the security of global mineral supply and industrial chains, the statement said.Prabowo in a separate statement said he was optimistic close cooperation between the two countries would improve regional stability."We must set an example that in this era. Cooperation not confrontation is the path to peace and prosperity," Prabowo said, adding Indonesia was committed to supporting Chinese investors.On Sunday, Chinese battery materials producer GEM signed a deal with PT Vale Indonesia to build a high-pressure acid leaching plant in Central Sulawesi, partly to secure nickel resources, a Shenzhen filing showed. Prabowo witnessed the signing.The nickel industry in Indonesia, the world's largest producer of the metal, is dominated by Chinese companies including Tsingshan Holding Group and Zhejiang Huayou Cobalt.In the tech sector, Indonesian tech firm GoTo Gojek Tokopedia signed agreements with China's Tencent and Alibaba to develop cloud infrastructure and digital talent in Indonesia, Reuters reported earlier.The two countries will introduce visa measures, including multi-entry long-term visas, and encourage more direct flights and destinations based on demand, the joint statement showed.Other cooperation agreements signed during Prabowo's visit include collaborations in housing and the export of fresh coconuts from Indonesia to China.

Bumi Resources (BRMS) Reveals Gold Potential in CPM Minerals
Bumi Resources (BRMS) Reveals Gold Potential in CPM Minerals
12 Nov 2024, 09:38 PM 4716

PT Bumi Resources Minerals Tbk (BRMS) reported the findings from a field visit and the gold potential of Citra Palu Minerals (CPM) in Sulawesi. BUMI’s Independent Director and Corporate Secretary, Dileep Srivastava, stated that CPM is the company’s only active mine.“At the end of July, we visited Citra Palu Minerals (CPM) in Sulawesi, which is currently the only active gold mine of BRMS,” he said on Wednesday (6/11).The project in this area is a key asset with significant volumes and gold grades. BRMS holds five significant assets covering resources, including 11.04 Moz of gold, 57.7 Moz of silver, 1.9 Mt of copper, 2.5 Mt of zinc, and 1.5 Mt of lead.According to Srivastava, the company highlighted key assets from the visit, with CPM standing out as one of the highest-value resource contributors in the industry.Additionally, the Gorontalo Minerals project also holds gold reserves with strong potential for future copper development.On the other hand, BRMS has secured financing for four gold plants with a capacity of 10,500 tons per day, producing up to 100koz of gold annually. Currently, two plants are operational with a production capacity of 4,500 tons per day.“Production volume for 6M24 has reached 27 koz, surpassing FY23,” he stated.The company plans to continue increasing production until 2028, with modern and sustainable plant operations. CPM will employ Carbon-in-Leach (CIL) and Heap Leach technologies. The higher ore grade at CPM enables the use of CIL technology.“CPM uses filter press technology to dry tailings, which are then stored in a 10-hectare facility, with plans to expand to 25 hectares for this specialized waste management area. This process recycles 20% of the water, which is reused for consumption,” he explained.

Vale Indonesia and GEM Sign Collaboration for Net-Zero Nickel Production Investment at Indonesia-Chi...
Vale Indonesia and GEM Sign Collaboration for Net-Zero Nickel Production Investment at Indonesia-Chi...
12 Nov 2024, 09:35 PM 3741

Affirming Indonesia's leadership in the global energy transition, President Prabowo Subianto witnessed the signing of a strategic collaboration between PT Vale Indonesia Tbk (INCO) and GEM Co Ltd in Beijing, China, during his visit to strengthen business relations between Indonesia and China.The project, valued at USD 1.4 billion and utilizing High-Pressure Acid Leaching (HPAL) technology, is located in Central Sulawesi and aims to become a net-zero nickel processing plant, with an annual production of at least 60,000 tons of nickel in the form of Mixed Hydroxide Precipitate (MHP)—a key component for energy storage system (ESS) batteries.This investment includes the development of a USD 40 million research and development center for knowledge transfer and the development of local Indonesian talent, USD 30 million for an ESG Compound encompassing green landscapes, employee dormitories, domestic water supply, and waste treatment, and USD 10 million for commitments to community development and public facilities.President Prabowo’s presence at this event demonstrates Indonesia's commitment to advancing a green economy and building a downstream industry that meets global demand for high-value, sustainable MHP.“We in Indonesia and Southeast Asia feel that we want to continue collaborating in synergy with the resurgence of China as a major global force. We want to be part of this resurgence, not only as an economic power but also as part of a strong civilization,” he said.Therefore, Prabowo emphasized, China’s entrepreneurial spirit in Indonesia has become a key element in strengthening economic cooperation between the two countries.“We must set an example that this collaboration is the path to be taken and nurtured. We welcome and will work hard to provide a favorable atmosphere for investments coming into Indonesia,” he stated.Driving Global and National Goals Through Sustainable MHP ProductionDesigned as a net-zero project, this facility will produce MHP with environmentally friendly practices and the latest technology for sustainable nickel processing. Through cross-market international collaboration, this project strengthens Indonesia's central role in the global transition to clean energy.“Our vision for the HPAL Project is to set a new global standard in sustainable MHP production,” said PT Vale CEO Febriany Eddy.This project is not merely about MHP production—it serves as a model of responsible resource management that benefits both Indonesia and the world.“By integrating advanced technology, environmentally friendly practices, and a commitment to net-zero production, we are shaping a future where Indonesia is recognized as a leader in sustainable industry development,” she added.Boost Economic Growth and Empower Local CommunitiesAligned with the Indonesian government’s economic growth target of 8%, this HPAL Project is designed to create jobs, attract new investments, and enhance local economic growth in surrounding communities. The project will act as a catalyst for economic activities, helping uplift local communities while strengthening Indonesia's global reputation as a sustainable industrial force.Empowering Indonesian Workforce Through Innovation and Knowledge TransferA pillar of this project is the plan to establish a research center focused on HPAL technology development, empowering Indonesian professionals through technology transfer and skills development. Enhancing education, skills, and technical capacity will ensure that Indonesian talent is ready to drive the next wave of industrial growth.Setting New Standards in ESG ExcellenceThe project is expected to become a net-zero MHP processing plant. PT Vale and GEM’s dedication to environmental preservation and sustainable development reflects a shared vision of responsible resource management, in line with global sustainability standards. This project demonstrates to the world that Indonesia's nickel industry is ready to meet the challenges of the green energy transition while upholding the highest environmental standards.GEM Chairman Xu Kaihua emphasized the global significance of this project.“PT Vale is a world-class company that prioritizes strong ESG principles. We are proud to partner with PT Vale to provide raw materials that support the global shift towards renewable energy,” he stated.The HPAL Project, he continued, is a vital collaboration that combines sustainable material processing expertise with Indonesia's abundant resources. This project is not only a step toward a cleaner future but also lays the foundation for deeper cross-border cooperation on green innovation.“Together with PT Vale, GEM will implement a net-zero emissions concept, advanced technology, and high ESG standards in the project design, creating a world-class green park with green nickel resources, local technology, and local talent, to process laterite nickel ore directly into battery materials, promoting the upgrade of Indonesia's nickel industry from conventional stainless steel to new energy, and maintaining Indonesia's global competitiveness in nickel resources,” he concluded.

Freeport Indonesia Set to Produce Gold Bars in December 2024
Freeport Indonesia Set to Produce Gold Bars in December 2024
12 Nov 2024, 09:31 PM 4011

President Director of PT Freeport Indonesia (PTFI) Tony Wenas announced that the company is prepared to commence gold bar production in the second week of December 2024. This inaugural production will be facilitated by the Precious Metal Refinery (PMR) facility located in Gresik, East Java.“In compliance with its Special Mining Business License and as part of the government's downstreaming program, PTFI has completed the smelter and PMR and is ready to produce gold bars, which will start in the second week of December,” Tony said during a press conference at a hotel in Menteng, Central Jakarta, on Thursday, November 7, 2024.The initial production is projected to yield between 50 and 60 tons of gold bars annually. The production process will utilize anode mud sourced from PT Smelting. “The estimated annual production capacity of the PMR is between 50 and 60 tons, depending on the ore grade,” he explained.In addition to gold, PTFI's PMR could also refine silver and produce platinum group metals, specifically platinum and palladium, from the processing of anode mud. The annual production targets for these metals are 200 tons for silver, 30 kilograms for platinum, and 375 kilograms for palladium.According to him, the PMR has an annual anode mud input capacity of 3,000 tons. “All 3,000 tons of annual anode mud will be refined at the PMR,” Tony added.For the inaugural production in December, PTFI aims to produce 500 kilograms of gold bars. The company plans to gradually increase production until the PMR can fully support the Indonesian government's initiative to bolster domestic gold bar reserves.Subsequently, PTFI will supply up to 30 tons of gold annually to PT Aneka Tambang Tbk (Antam), as stipulated in a gold metal sales agreement signed between the two companies on Thursday, November 7, 2024. The signing of the five-year futures agreement was also attended by State-Owned Enterprises Minister Erick Thohir and Deputy Minister of Energy and Mineral Resources Dadan Kusdiana.

Eramet: Indonesia to be world’s largest nickel producer
Eramet: Indonesia to be world’s largest nickel producer
12 Nov 2024, 09:30 PM 4512

Jérôme Baudelet, CEO of nickel company Eramet Indonesia, has predicted that in the next 10 years, Indonesia will become the world’s largest nickel producer following significant increase in production volume in recent times.According to Eramet data, Indonesia supplied 55 percent of the world’s total nickel production in 2023, significantly increasing the world’s dependence on Indonesia’s nickel supply.“We strongly believe that Indonesia will continue to be the center of global nickel production in the next 10 years. As much as 70 percent of global nickel production will come from Indonesia within that period,” Baudelet said in a statement on Thursday, November 7, 2024.He cited that the Weda Bay Nickel, Eramet’s joint venture with Tsingshan, also shows rapid growth in production. By 2024, Weda Bay Nickel’s nickel production will reach 32 million tons in accordance with the production quota set in the Work Plan and Budget (RKAB).Undersupply of nickel oreBaudelet highlighted the undersupply of nickel ore in Indonesia this year. The surge in nickel ore imports from the Philippines further strengthens this indication.Based on Statistic Indonesia (BPS) data, Indonesia imported around 7 million tons of nickel ore from the Philippines in the first 10 months of 2024, compared to only 374,454 tons for the whole of 2023. According to the statistics, nearly 60 percent of the imports have been shipped to the port of Weda Bay.Although imports still account for a small portion of Indonesia’s total nickel consumption, high demand has pushed nickel ore prices higher than the minimum benchmark price (MSP) set by the Indonesian government.“This nickel ore supply shortage is creating market tension in Indonesia, despite the fact that the global nickel market is still oversupplied with finished nickel products. However, it should be noted that this oversupply is relatively small, estimated at around 60,000 tons, equivalent to about one week of consumption,” Baudelet said.Growth potentialEramet is optimistic about the future of nickel production in Indonesia. With abundant resource potential in Weda Bay, the Eramet joint venture aims to increase production to 60-65 million tons per year in the medium term.“With the support of abundant natural resources in the long term, we are committed to maintaining a balance of supply. We don’t want to produce more than the market needs,” Baudelet said.He emphasized the importance of innovation and sustainability in natural resource management.“Indonesia is a top priority for Eramet in its nickel business development. Eramet wants to be part of the growth of the global nickel industry and provide positive benefits to the Indonesian economy. We continue to strive to establish strategic partnerships with companies, both from Europe and Indonesia, to support the growth of nickel industry in Indonesia,” he concluded.

Advertisement

Ad #1
Ad #2
Ad #3
Ad #4
Ad #5
Ad #6