Indonesia Miner : News

Thiess to deploy autonomous drilling in Indonesia at MSJ

14 Jun 2023, 02:00 PM 4827

Thiess recently announced that it has secured an A$300 million expansion contract from PT Harum Energy Tbk at the Mahakam Sumber Jaya (MSJ) coal mine in East Kalimantan, Indonesia, running through until March 2026. The company will now also operate in an adjacent area to the current mining operations.The contract scope expands the current mining operations, including load and haul, drill and blast, haul road maintenance and rehabilitation. Thiess Group Executive Chair and CEO Michael Wright said: “As a long-standing partner of Harum Energy since 2008, we are very pleased to have been entrusted with this expansion at MSJ. This presents opportunities for our project team to continue delivering successful outcomes for our client and the local communities, through an absolute focus on sustainable, technology enabled mining operations.”Thiess Group Executive, Asia Cluny Randell said: “We are excited to take on this new challenge and continue our strong partnership with Harum Energy, where we’ve been working together at the MSJ mine. Our team’s expertise and commitment to safe and efficient mining, and our focus on the communities where our people work and live, will ensure the ongoing success of this project.”But there is more to this news. As part of the global commitment to be at the forefront of sustainable mining, Thiess is planning to implement its first autonomy program in Indonesia at the MSJ mine. This will be through an autonomous drilling operation where ongoing improvements in safety, production and emission reductions are anticipated.In line with Thiess’ commitment to diverse and inclusive workplaces, the company says it will also work to increase female participation at MSJ mine by expanding its female operator training program for local women interested in joining the mining industry.Source: https://im-mining.com/2023/06/12/thiess-to-deploy-autonomous-drilling-in-indonesia-at-msj/

It's Official! Jokowi Relaxes of Mineral Exports to Freeport

14 Jun 2023, 12:00 PM 5507

The administration of President Joko Widodo (Jokowi) has officially granted relaxation of metal mineral exports for copper, iron, lead or zinc commodities until May 31, 2024.This relaxation is regulated in the Regulation of the Minister of Energy and Mineral Resources (ESDM) Number 7 of 2023 concerning the Continuation of Development of Domestic Metal Mineral Refining Facilities which was promulgated on June 9, 2023.It is explained in the policy that the provision of opportunities to sell processed products abroad until May 31, 2024 is in order to encourage certainty of the completion of the construction of refining facilities (smelters) which are being carried out by holders of mining business permits/special mining business permits (IUP/IUPK) for the production operation stage commodity metal minerals copper, iron, lead, or zinc.In Article 3 paragraph (2) the provisions that are permitted to export are specified, including:a. has produced processed products;b. the physical progress of the construction of the purification facility has reached at least 50 percent on January 31, 2023 from the previous planned physical progress of the construction of the purification facility which is calculated cumulatively up to the last 1 month by an independent verifier;c. pay the export duty in accordance with the provisions of the legislation;d. and meet the minimum processing limits in accordance with the provisions of laws and regulations.In addition, the holder of an IUPK for the copper commodity metal mineral production operation stage; or permits for processing and/or refining business activities issued by the minister in charge of government affairs in the industrial sector which has produced by-products or residue from the refining of copper metal mineral mining commodities in the form of anode mud, may sell anode mud abroad in a certain amount by use postal tariffs/HS in accordance with the provisions of laws and regulations until May 31, 2024.This Ministerial Regulation was stipulated by the Minister of Energy and Mineral Resources Arifin Tasrif and came into force from 11 June 2023.Based on data from the Ministry of Energy and Mineral Resources, there are five business entities that have progress in concentrate refining facilities above 51 percent. The five business entities are PT Freeport Indonesia (copper), PT Amman Mineral Nusa Tenggara (copper), PT Sebuku Iron Lateritic Ores (iron), and two smelters belonging to PT Kapuas Prima Coal, namely PT Kapuas Prima Citra (lead) and PT Kobar Lamandau Mineral (zinc).In detail, the physical progress of the US$3 billion Freeport smelter project construction in January 2023 has reached 54.52 percent with investment realization reaching US$1.68 billion and the Amman Mineral smelter worth US$983 million has reached 51.63 percent with an investment realization of US$507 .53 million.Then, the Sebuku Iron Lateritic Ores smelter valued at US$51.5 million, its physical progress has reached 89.79 percent with a realized investment of US$46.27 million as of February 2023.Meanwhile, the Kapuas Prima Citra smelter valued at US$10 million has achieved 100 percent physical progress as of May 2022. For the Kobar Lamandau Mineral smelter valued at US$22.53 million, the achievement has been 89.65 percent with investment realization of US$20.2 million as of February 2023.Source: https://ekonomi.bisnis.com/read/20230613/44/1664908/resmi-jokowi-beri-relaksasi-ekspor-mineral-untuk-freeport-dkk

Merdeka Copper (MDKA) Increases Gold and Copper Production in 2023

14 Jun 2023, 09:00 AM 5460

Metal mining issuer PT Merdeka Copper Gold Tbk. (MDKA) said it would increase gold and copper production for 2023. President Director of MDA Albert Saputro said that this year MDKA is targeting an increase in gold production compared to 2022. According to him, one of the main sources of gold production for the MDKA Group, the Tujuh Bukit Gold Mine, during 2022 will produce 125,133 ounces of gold with an all-in-sustaining cost of US$1,131 per ounce of gold. . Albert continued that in 2023 gold production from the Tujuh Bukit Gold Mine is targeted to be in the range of 120,000 to 140,000 ounces of gold with an AISC of US$1,100-US$1,300 per ounce of gold."The MDKA Group is also continuing the exploration of the copper project at Tujuh Bukit which is expected to provide optimal results. The Seven Bukit copper project is one of the largest pre-production copper projects in the world, which shows technical and economic feasibility," said Albert in MDKA's public expose, Tuesday ( 13/6/2023).Apart from the Tujuh Bukit Mine, according to Albert, currently the MDKA group is carrying out the development and exploration of a number of gold and other mineral mining projects. Among them is the development of the Pani gold project, Gorontalo, which is expected to produce 450,000 ounces of gold per year.Albert explained that the Pani gold project is currently preparing for a comprehensive mining process. The feasibility study for this project is scheduled to be completed by the end of quarter III/2023 and the results will be announced in quarter IV/2023. The Pani project is envisioned as a long-lived, low-cost gold mine with high gold production.Meanwhile, the Wetar Copper mine in 2022 will be able to produce as much as 19,551 tons of copper at an AISC of US$3.37 per pound of copper. Copper production in 2023 from this mine is targeted to be around 16,000–20,000 tons of copper, with an AISC projection of US$3.70 –US$4.70 per pound of copper. From RKEF smelters to produce nickel pig iron (NPI), MDKA targets production in 2023 in the range of 18,000–20,000 tons of NPI, with an AISC of US$13,000–US$15,000 per tonne of nickel.As of the end of 2022, the MDKA group has a portfolio of mineral resource assets with reserves of 35.2 million ounces of gold, 8.4 million tons of copper, 79 million ounces of silver, 13.8 million tons of nickel and 1 million tons of cobalt.Source: https://market.bisnis.com/read/20230613/192/1665062/merdeka-copper-mdka-kerek-naik-produksi-emas-dan-tembaga-2023

Indonesian copper miner Amman aims to raise USD 880 million in IPO

14 Jun 2023, 08:00 AM 4802

Indonesian copper miner Amman Mineral Internasional aims to raise up to 12.94 trillion rupiah ($880.6 million) in a listing scheduled for June 28 to July 3, it said in its prospectus on Wednesday.The listing would be the biggest initial public offering (IPO) in Southeast Asia this year, according to Refinitiv data, surpassing the listing of Indonesian nickel producer Trimegah Bangun Persada, known as Harita Nickel, that raised 10 trillion rupiah in April.Indonesia’s IPO market is one of the world’s hottest this year. First-time share sales have raised $1.58 billion as of April, second only to China in the Asia-Pacific region excluding Japan and ahead of traditional powerhouse Hong Kong, according to Refinitiv data.The announcement of the Amman Mineral IPO comes a day after agri-food giant Olam Group said it did not expect the dual listing of its agricultural unit, Olam Agri, in Singapore and Saudi Arabia to be completed in the first half of this year as originally planned, citing failure to obtain “all the necessary regulatory approvals”.Amman Mineral’s prospectus showed book building is set to start on Wednesday with an offering price in a range of 1,650 rupiah to 1,775 rupiah per share.The Jakarta-headquarted company will use IPO proceeds to pay off some debt and fund several projects, including completing a copper smelter it is building in Sumbawa island, it said in its prospectus.The smelter, which has input capacity of 900,000 tonnes of copper concentrate to produce 220,000 tonnes of copper cathode annually, will cost the company $983 million in total, company and government data showed.The Indonesian government in April exempted Amman until May 2024 from a planned June ban on raw mineral exports, to give the firm a revenue stream to complete the smelter project, which was half-finished as of January.A unit of Amman Mineral, part of Indonesian energy group Medco Energi Internasional, operates the Batu Hijau mine in the West Nusa Tenggara province.Amman Mineral Internasional acquired the Batu Hijau mine from US miner Newmont Mining Corp and Japan’s Sumitomo Corp and its partners in 2016.A strong market debut by Amman Mineral on July 5 could boost sentiment for upcoming IPOs in Indonesia this year.They include Pertamina Hulu Energi, the upstream arm of Pertamina, that could raise at least 20 trillion rupiah, and state-owned fertilizer company Pupuk Kalimantan Timur that could raise $500 million.Source: https://www.mining.com/web/indonesian-copper-miner-amman-aims-to-raise-880-million-in-ipo/

Astrindo's (BIPI) Performance Increased 798%

22 May 2023, 12:00 PM 5078

Mining service provider issuer PT Astrindo Nusantara Infrastruktur Tbk. (BIPI) posted a revenue increase of up to 798 percent in the first quarter of 2023. BIPI's revenue increased to US$125.83 million or the equivalent of IDR 1.87 trillion (JISDOR exchange rate of IDR 14,936 per US dollar). This revenue increased 798.18 percent compared to the first quarter of 2022 which amounted to US $ 140.1 million. This increase in revenue was driven by coal sales of US$117.33 million which is a new source of income for BIPI.Then, the port lease is US$ 6.16 million, CPP & OLC is US$ 2.31 million, and others is US$ 9,871. This increase in revenue also pushed up BIPI's cost of revenue to 2,036.9 percent to US$95.24 million. This cost of revenue increased from US$44.57 million from the first quarter of 2022. However, BIPI's gross profit was recorded to have increased by 256 percent from US$8.59 million in the first quarter/2022, to US$30.59 million in the first quarter/2023. Meanwhile, BIPI's net profit also rose 761.3 percent to US$10.32 million, from US$1.19 million on an annual basis. This net profit is equivalent to IDR 154.15 billion.BIPI recorded total assets of US$1.81 billion at the end of March 2023, up from the end of December 2022 of US$1.13 billion. BIPI's total liabilities increased to US$1.17 billion on March 31, 2023, from US$594.07 million on December 31, 2022. Meanwhile, BIPI's total equity also increased to US$643.87 million in the first quarter of 2023, from US$536 .2 million by the end of 2022.Source: https://market.bisnis.com/read/20230522/7/1657954/kinerja-astrindo-bipi-naik-798-persen-apa-penyebab-utamanya

Indo Tambangraya (ITMG) Targets 22.2 Million Ton Coal Sales in 2023

20 May 2023, 12:00 PM 6188

PT Indo Tambangraya Megah Tbk (ITMG) targets total production volume this year to be in the range of 16.6 million tons to 17.0 million tons of coal. This target is relatively the same as last year's production achievement of 16.6 million tonnes. Throughout the first quarter of 2023, ITMG has produced 3.8 million tonnes of coal amid heavy rainfall at the start of the year. When compared to production in the first quarter of 2022, ITMG's coal production is relatively stable.Yulius Gozali, Director of Corporate Communications and Investor Relations of ITMG believes the coal production target will be achieved. This is because, compared to last year's figures, this year's production volume growth target is not that high, namely less than 5%. In addition, on a seasonal basis, coal production in the first quarter of 2023 tends to be small. “In the future production will increase slowly. Most of the production will increase in the third and fourth quarters," said Yulius, Wednesday (18/5). From a sales perspective, ITMG is targeting a total sales volume of 21.5 million tons to 22.2 million tons. Of the sales volume target, 37% of the selling price has been set, 41% refers to the coal price index, while the remaining 22% has not been sold.As of the first quarter of 2023, ITMG's total coal sales volume reached 4.5 million tons. This number is up 4.6% from sales in the same period last year of 4.3 million tons. Yulius is also optimistic that this target can be achieved. The sentiment of cutting China's coal production due to a mining accident in the Inner Mongolia region can have a positive impact on ITMG, although the impact is not that significant. Sectorally, Yulius agrees that there is no sign of a significant increase in coal demand. China, as the biggest consumer of coal, is still struggling with the Covid-19 case, so the open-close lockdown policy is still in effect.“Second, there is the threat of a recession in the European continent and the United States (US). "With that, automatic requests are not maximized. This is why prices can't go up anymore," said Yulius. However, he sees the possibility that demand will increase in the third quarter of 2023. This is because a number of countries will restock ahead of winter to secure their energy needs. After all, the acquisition of the average selling price, aka the average selling price (ASP) of ITMG coal is still growing, although it is very thin. ASP realization during the first three months of 2023 was US$ 151 per ton or relatively equivalent to the same period last year, which was US$ 150 per ton. With an increase in average selling price coupled with an increase in selling volume, ITMG posted net sales of US$ 686 million or 7% higher than the same quarter in the previous year.Source: https://industri.kontan.co.id/news/indo-tambangraya-itmg-targetkan-penjualan-batubara-222-juta-ton-di-tahun-2023

PT Timah Involve Village owned Enterprises on 400 hectares Mines Reclamation

20 May 2023, 12:00 PM 5065

PT Timah Tbk involves village-owned enterprises (bumdes) in the Bangka Belitung Islands Province in reclamation of 400 hectares of ex-mining land, as an implementation of sustainable mining practices by prioritizing the implementation of Good Mining Practice (GMP). "In the first quarter of this year, PT Timah Tbk together with the village-owned enterprises had reclaimed 97.6 hectares or had reached 24.4 percent of the 2023 reclamation plan of 400 hectares," said PT Timah Tbk Head of Corporate Communications Anggi Siahaan in Pangkalpinang, Saturday.He said PT Timah Tbk is committed to carrying out sustainable mining, one of which is by consistently carrying out reclamation of former mines in the company's operational areas, so that it can boost the economy of the people in this area. "One of the forms of reclamation that has been carried out by PT Timah Tbk is in the Air Jangkang Reclamation Village and Selinssing Reclamation Village," he said.He stated that the two reclamation villages had become tourist destinations for the people of Bangka and Belitung Islands. Even in the Selinsing Reclamation Village which is managed together with Bumdes Selinsing, it has had an economic impact on the village because it has become one of the most popular tourist destinations visited by residents. "Alhamdulillah, in carrying out this reclamation it has been able to provide an economic impact for the community and also protect the plants that have been planted such as fruit trees such as oranges, avocados and others," he said.He emphasized that the company is committed to carrying out sustainable environmental management and also providing added value to society. "Sustainable environmental management is one of the company's priorities. So the reclamation program being carried out is not only limited to carrying out its responsibilities but also has an economic impact on the community," he said.Source: https://www.antaranews.com/berita/3547467/pt-timah-libatkan-bumdes-reklamasi-400-hektare-bekas-tambang

Nickel Export Ban, POSCO to BASF Build Smelters in Indonesia

20 May 2023, 12:00 PM 5847

The downstream nickel policy, which was initiated two years ago through a ban on nickel ore exports, is increasingly bearing fruit. Investment in nickel smelters or processing facilities in the country is getting more massive along with the electric vehicle fever that is happening in many countries around the world. Of course, the flood of nickel smelter investment in Indonesia is certainly not without reason. Indonesia will produce 1.6 million tonnes of nickel in 2022, ranking second after Australia as the country with the largest reserves in the world, namely 21 million tonnes. Launching Nikkei Asia on Saturday (13/5/2023), iron and steel giant from South Korea, POSCO Holdings (POSCO) will build a nickel smelter in Halmahera, North Maluku. The investment value of the smelter, which is targeted to be completed in 2025, is US$441 million. The POSCO smelter in Halmahera will process nickel into intermediate products which will then be used as raw material for electric vehicle batteries. It is known that the products produced by the smelter can be used to produce up to 1 million electric cars.POSCO is not alone, Germany's leading chemical producer, BASF and French mining company, Eramet will also build their smelters in North Maluku. The investment value issued for the smelter is no joke, reaching US$2.6 billion. Later, the smelter resulting from the efforts of the two companies or joint-venture will produce nickel-cobalt compounds used in electric car batteries.The leaders of the two companies are known to have met with President Joko Widodo or Jokowi Jokowi in Germany on April 16 2023 to convey their investment plans. The presence of POSCO, BASF and Eramet has made the nickel processing industry in the country even more lively. They are gradually shifting the dominance of companies from China that have already built their nickel smelters, especially in Sulawesi and North Maluku. The existence of smelters built by Chinese companies cannot be separated from the cooperation with local companies. One example is PT Trimegah Bangun Persada Tbk or Harita Nickel which is building a nickel processing facility in collaboration with Lygend Resources & Technology, China. In addition, another example is PT Merdeka Battery Materials, a nickel processing company, a subsidiary of PT Merdeka Copper Gold Tbk, which partners with battery giant from China, Contemporary Amperex Technology (CATL). On the other hand, the nickel downstream policy in Indonesia succeeded in "reconciling" the United States (US) and China in the smelter construction project in Southeast Sulawesi. Ford Motor invests in PT Vale Indonesia Tbk's nickel smelter, the construction and operation of which involves Zhejiang Huayou Cobalt, China.Source: https://ekonomi.bisnis.com/read/20230520/44/1657582/larangan-ekspor-nikel-posco-hingga-basf-berbondong-bangun-smelter-di-indonesia

Building a Nickel Smelter, Bukaka Teknik Utama Optimistic to Expand US and Europe Markets

18 May 2023, 12:00 PM 5826

PT Bukaka Teknik Utama Tbk (BUKK) is increasingly serious about working on a nickel smelter project through its subsidiary PT Bumi Mineral Sulawesi. Bukaka Teknik Utama Finance Director Afifuddin Kalla revealed that his party is currently building two nickel smelter factories in Palopo, South Sulawesi. The two plants consist of a ferronickel (FeNi) plant with a capacity of 34 thousand tonnes per year and a nickel sulfate plant with a capacity of 31,400 tonnes per year using the Rotary Kiln Electric Furnace (RKEF) and High Pressure Acid Leach (HPAL) technology."For the Commercial Operation Date (COD) schedule, it is likely that the FeNi factory will be operational at the end of this year in November. The second factory will be COD in the first quarter of 2024," Afifuddin said at the Public Expose, Wednesday (17/5). Afifuddin continued, in 2024 his party would continue to develop the nickel sulfate factory for phase II. Phase II development includes four nickel sulfate plants with a capacity of 31,400 tons per year each. "We see nickel as a resource in Sulawesi that can be utilized. We want to become a nickel player in Sulawesi, which has 100% national ownership," explained Afifuddin. Afifuddin continued, companies will target a number of markets, including the United States, the European Union and Japan.According to him, domestic smelter products are currently facing challenges to the Inflation Reduction Act (IRA) policy. "We are sure that with a composition like this we can enter and supply it to the American market which needs nickel which is greener and also the way it is made can reduce CO2 as much as possible," explained Afifuddin. Afifuddin revealed that the processing facility's electricity needs will be supplied from new renewable energy generators.Source: https://industri.kontan.co.id/news/bangun-smelter-nikel-bukaka-teknik-utama-optimistis-tembus-pasar-eropa-dan-amerika

Merdeka Copper Gold targets gold production to reach 140 thousand ounces in 2023

17 May 2023, 12:00 PM 5783

Gold and copper mining company PT Merdeka Copper Gold Tbk (stock code: MDKA) targets gold production to reach 120,000 to 140,000 ounces of gold in 2023. "This year's production target is 120,000 to 140,000 ounces (gold), similar to last year's 2022," said MDKA General Manager of Corporate Communications Tom Malik in a Media Gathering in Jakarta, Wednesday. Tom explained, the gold production came from the Seven Bukit Gold Mine managed by PT Bumi Suksesindo, which is an open pit mine in Banyuwangi Regency, East Java, which digs mineral ore and extracts gold and silver deposits.In the first quarter of 2023, he explained that the Tujuh Bukit Gold Mine had produced 25,830 ounces of gold at a sustainable cost (AISC) of US$1,262 per ounce. Meanwhile, currently PT Bumi Suksesindo operates a gold mine covering an area of 992 hectares (ha) based on an Operation and Production Mining Business Permit which has been owned since 2012 in a production forest area in Sumberagung Village, Pesanggaran District, Banyuwangi Regency Furthermore, the company with 7.36 percent share ownership by Garibaldi Thohir still has gold mining deposits in low sulfidation epithermal deposits at the Pani Gold Project in Gorontalo Province.He explained that the Mineral Resources for the Pani Gold Project amounted to 263.6 million tons, with a grade of 0.75 grams per tonne of gold containing 6.35 million ounces of gold, which is currently in the feasibility study process and is expected to be completed by the end of the year. quarter III-2023. Around the mining area, he said roads, accommodation, facilities and other supporting infrastructure are being built to ensure construction can begin in the third quarter of 2023. "The Pani Gold Project is currently focused on optimizing project funds, mining schedules, and material and recovery opportunities in the early years of mining," said Tom. For information, PT Merdeka Copper Gold Tbk is targeting gold production at the Tujuh Bukit Gold mine of 100,000 ounces to 120,000 ounces in 2022.Source: https://www.antaranews.com/berita/3543420/merdeka-copper-gold-targetkan-produksi-emas-capai-140-ribu-ons-di-2023

Indonesia’s Coal Reserves Still at 31.95 Billion Tons

Merdeka Copper (MDKA) Reports 67% Progress on Pani Gold Proj...

New Board of Directors and Commissioners of PT Vale Indonesi...

Abadi Nusantara (PACK) Acquires Two Mining Companies in Nort...

MBMA Reports 6.9 Million WMT Nickel Production Amid Strong S...