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03 Sep 2024, 01:23 AM

PT Vale Indonesia Optimistic to Achieve Production Target of 70,800 T Nickel by the End of 2024

Istimewa
1134 Views
PT Vale Indonesia Tbk (PT Vale) held its 2024 annual public expose as a demonstration of transparency and accountability to the public, particularly to its shareholders.Similar to the previous year, the public expose was conducted online as part of the Public Expose Live 2024 event organized by the Indonesia Stock Exchange (IDX).During the presentation, PT Vale reiterated its operational achievements and financial performance for the S2 2024 and the S1 2024, as previously published.In S2 2024, production volume decreased by 9 percent compared to the strong performance achieved in S1 2024. "This is a testament to the company's commitment to quality and maintenance planning, which is crucial for the long-term success of our operations," said PT Vale Indonesia CEO Febriany Eddy in an official statement on Monday, August 26, 2024.Febriany noted that on a year-on-year basis, PT Vale's production in S2 2024 was slightly lower by 2 percent, reflecting consistent performance. However, PT Vale's production in 1H24 was 3 percent higher compared to 1H23. This growth resulted from PT Vale's planned maintenance strategy and higher calcine output in 2024."We are optimistic about our production prospects and expect smooth operations through the end of the year. Our goal is to achieve a production target of approximately 70,800 metric tons of nickel in matte in 2024, up from last year's target," Febriany stated.In S2 2024, PT Vale's sales reached 17,505 metric tons of nickel matte, generating revenue of USD 248.8 million. This figure represents an 8 percent increase compared to the previous quarter, driven by higher average realized nickel prices in S2 2024.The average realized nickel price increased by 12 percent to USD 14,214 per ton in S2 2024, up from USD 12,651 per ton in S1 2024."Despite uncertain market conditions, we remain committed to optimizing production capacity, improving efficiency, and reducing costs," Febriany Eddy reported.Febriany explained that in line with the decline in shipments during the quarter, PT Vale's cost of revenue decreased from USD 209.8 million in S1 2024 to USD 207.3 million in S2 2024. The reduction in total cost of revenue was also supported by lower fuel and coal consumption in S2 2024, along with a decrease in coal prices.
News
03 Sep 2024, 01:20 AM

Bukit Asam (PTBA) Focuses on Increasing Coal Transportation Capacity

Bisnis/Abdurachman
1112 Views
PT Bukit Asam Tbk. (PTBA) is focusing on expanding its coal transportation capacity as part of its strategic plan for the next five years.Setiadi Wicaksono, SVP Management Office at PTBA, stated that this effort aims to accelerate the monetization of the company's coal reserves. According to company data, PTBA's coal reserves amount to 2.98 billion tons, with a resource base of 5.81 billion tons."As part of our efforts to accelerate coal monetization, we are focusing on the development of the Tanjung Enim to Keramasan project," Setiadi said during Pubex Live 2024 on Tuesday, August 27, 2024.Setiadi explained that the project is the result of a synergy between PTBA and PT Kereta Api Indonesia (Persero) or KAI. The partnership, formalized on October 12, 2023, focuses on developing the coal transportation route between Tanjung Enim Baru and Keramasan.This project is expected to increase PTBA's coal transportation capacity by up to 20 million tons per year. The groundbreaking for the coal handling facility was held on December 30, 2023."With this pipeline, we can add to the existing capacity, which currently stands at around 32 to 33 million tons per year, supporting the growth of both TE Tarahan and TE Kertapati," Setiadi added.For 2024, the company has set a coal production target of 41.3 million tons, accompanied by sales targets of 43.1 million tons and transportation targets of 33.7 million tons.To achieve these targets, PTBA has also entered into a partnership with PT Swarnadwipa Dermaga Jaya (SDJ), a subsidiary of PT Titan Infra Energy Group, which operates in the coal loading port services sector.Through this partnership, SDJ will provide logistics services for transporting coal from the Sungai Musi Loading Port to the mother vessel at Tanjung Kampeh Port. The coal transportation volume is targeted to reach approximately 2.5 million tons in 2024.
News
03 Sep 2024, 01:19 AM

Antam Acquires Ownership of Tsingshan Group Nickel Smelter

GAG
1435 Views
PT Aneka Tambang Tbk (Antam) through its subsidiary, PT Gag Nickel, is carrying out a significant strategic corporate action by acquiring part of the share ownership of Tsingshan Group’s subsidiary, Newton Internasional Investment Pte. Ltd.This step marks Antam’s strategic effort to strengthen its position in the global nickel industry.Antam’s Managing Director, Nicolas D. Kanter, confirmed this.“Antam plans to acquire ownership of the nickel processing smelter owned by the Tsingshan Group,” said Nicolas in an online public presentation held on Tuesday, August 27 2024.PT Gag Nickel, which operates as an exploration company and nickel mine operator on Gag Island, Raja Ampat, West Papua, has signed a Conditional Shareholders Agreement (CSPA) with Newton International Investment on May 3 2024.This step marks the beginning of an acquisition process aimed at to acquire partial share ownership in a nickel ore processing factory or smelter.Historically, the majority share ownership of PT Gag Nickel was previously controlled by Asia Pacific Nickel Pty. Ltd by 75%, while Antam only owns 25%. However, in 2008, Antam succeeded in acquiring all shares in Asia Pacific Nickel Pty. Ltd, so that PT Gag Nickel is completely under Antam’s control. Newton International Investment Pte. Ltd, a subsidiary of Tsingshan Group, is an entity focused on the stainless steel and nickel industries in China.With this corporate action, Antam is expected to strengthen its position in the global nickel value chain, especially in the context of increasing demand for nickel as the main raw material for the electric vehicle battery industry.Apart from this corporate action, Antam is also involved in a project to develop the electric vehicle (EV) battery ecosystem. This project involves strategic partnerships with Indonesia Battery Corporation and several international partners, such as the CBL Consortium (Contemporary Amperex Technology Co. Limited or CATL, Brunp, Lygend), as well as Hong Kong CBL Ltd. (HKCBL) which is a subsidiary of CATL.One of these development projects is located in Buli, East Halmahera, North Maluku, which has now entered the feasibility study finalization stage in July 2024.With these steps, Antam not only strengthens its position as a major player in the nickel industry, but also strengthens its role in the development of EV battery technology, which will be an important pillar in the global energy transition in the future.
News
03 Sep 2024, 01:18 AM

BUMI becomes one of PLN's largest coal suppliers

ANTARA/HO-BUMI
1142 Views
PT BUMI Resources, Tbk (BUMI) has announced that it contributes one-sixth of the coal used by PT Perusahaan Listrik Negara (PLN) as an energy source, making it one of the largest coal suppliers for power generation in Indonesia."Coal continues to play a significant role in ensuring the availability of affordable electricity in Indonesia. Within this framework, BUMI has made a considerable contribution, with its Domestic Market Obligation (DMO) for coal exceeding 25 percent," said BUMI's Director & Corporate Secretary, Dileep Srivastava, in a statement received in Jakarta on Friday.Currently, most power plants worldwide still rely on coal as the cheapest fuel, particularly in the Asian region. Similarly, in Indonesia, the production of affordable electricity still requires coal as the primary energy source.Dileep stated that through its subsidiaries, BUMI supplied approximately 21 to 22 million metric tons of coal for domestic needs in 2023, which accounted for about 28 percent of the company’s total production of 77.8 million metric tons for that year.With these figures, BUMI contributes roughly one-sixth of PLN's coal requirements to power the nation's electricity. In the S1 2024, BUMI produced 37.7 million metric tons of coal, marking a 7 percent increase compared to the previous year’s 35.4 million metric tons.It is worth noting that BUMI owns coal mining subsidiaries, including PT Kaltim Prima Coal (KPC) in East Kalimantan, PT Arutmin Indonesia in South Kalimantan, and PT Pendopo Energi Batubara in South Sumatra."As part of BUMI's contribution to the nation, we are committed to consistently maintaining and fulfilling domestic supply. In addition to other contributions such as taxes and royalties to state revenues, CSR (corporate social responsibility) activities in socio-economic empowerment of communities, and tangible steps for environmental sustainability continue to be our focus," Dileep explained.Data from the Ministry of Energy and Mineral Resources (ESDM) shows that BUMI's two subsidiaries, PT Kaltim Prima Coal and PT Arutmin Indonesia, were among the top five companies with the largest DMO obligations supplying coal to PLN's power plants in 2023.
News
03 Sep 2024, 01:16 AM

Indonesia expands critical mineral cooperation with Africa

ANTARA/Putu
1004 Views
Indonesia is open to expanding cooperation in critical minerals for electric vehicle (EV) battery production with African countries. The Foreign Affairs Ministry's Director General of Asia, Pacific, and Africa, Abdul Kadir Jailani, at the press conference of the Indonesia-Africa Forum (IAF) here on Sunday, explained that Indonesia needs lots of critical minerals to produce EV batteries."To produce EV batteries, we need a lot of critical minerals, not just nickel, and we know that some African countries have critical mineral potential," Jailani stated.He also mentioned the ongoing cooperation in lithium, namely between state-run mining industry holding Mining Industry Indonesia (MIND ID) and Tanzania.He emphasized that it is not enough if Indonesia only depends on minerals that exist in the country."This energy cooperation is very beneficial for us because Indonesia needs critical minerals for energy transition, and we know that the supply can not only come from us," he said.In addition to Africa's enormous potential for critical minerals, Jailani mentioned the opportunities in trade cooperation.He explained that Indonesia's business relationship with Africa is currently low. Therefore, he said that it is time for Indonesia to strengthen its business relations with countries in Africa."It is time for Indonesia to reach out to Africa. We are changing our orientation; where we now see the African market as an untapped potential, it is time for us to optimize it," he said.Previously, Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan said he is considering Africa as an EV battery market in expanding Indonesia's electric vehicle industry."The population in Africa will double by 2045. It will be a big market," Pandjaitan said at the International Battery Summit in Jakarta on July 29th.
News
27 Aug 2024, 15:50 PM

PLN Backs Green Industry by Distributing 275,000 REC Units to PT Agincourt Resources

PLN
1015 Views
PT PLN (Persero) has introduced the Renewable Energy Certificate (REC) service as part of its efforts to support the use of environmentally friendly energy.This initiative has been gaining traction, as evidenced by the growing number of REC customers.Most recently, PLN provided 275 REC units to PT Agincourt Resources, a gold mining company. This amount is equivalent to 275 Megawatt hours of electricity generated from renewable energy sources.The agreement was formalized with a power purchase agreement between PLN's North Sumatra Distribution Main Unit (UID Sumatra Utara) and PT Agincourt Resources in Medan on Tuesday, August 13.PLN President Director Darmawan Prasodjo stated that this collaboration demonstrates PLN's commitment to working with industry players to support the clean energy transition in Indonesia."This REC sale not only shows PLN's commitment to supporting green energy but also strengthens its position as a key partner in realizing a green industry in Indonesia," said Darmawan.Darmawan emphasized that PLN is fully committed to supporting the competitiveness of national industries by promoting the use of environmentally friendly clean energy."We are offering a 100% green electricity service option, supplied by our renewable energy power plants through REC," he added.He also noted that REC is a service that simplifies the process for customers to gain recognition for using renewable energy in a transparent, accountable, and internationally recognized."Each REC certificate verifies that the electricity used by the customer comes from renewable energy sources. We highly appreciate companies that initiate the use of REC as part of their efforts to support the energy transition in Indonesia," Darmawan stated.Saleh Siswanto, General Manager of PLN UID North Sumatra, expressed appreciation for PT Agincourt Resources' decision to use PLN's REC service.He noted that this demonstrates the positive reception of PLN's green product innovation by customers, including PT Agincourt Resources.Saleh highlighted that the use of REC aligns with the company's commitment to reducing carbon emissions and supporting the creation of a green industry in North Sumatra."With a purchase of 275,000 units, this is the largest achievement outside of Java.We thank PT Agincourt Resources for their trust in PLN," Saleh said.He further assured that PLN is prepared to meet the electricity needs of customers participating in the use of clean energy."We are confident in delivering high-quality and reliable electricity supply in every production process.PLN is also ready to support PT Agincourt Resources' electricity needs to help increase their production," Saleh added.Jingga Ajani, Senior Manager Commercial of PT Agincourt Resources, stated that the purchase of REC is a demonstration of Astra Group's support for the government's program towards Net Zero Emissions by 2060."The purchase of these Renewable Energy Certificates (RECs) is in line with Astra Group's target to achieve Net Zero Emissions (NZE) by 2060 and decarbonization by 2030."We are committed, together with PLN, to using clean energy and fostering a better environment for the future," said Jingga.
News
27 Aug 2024, 15:47 PM

BUMI Records 2.4 Billion Tons of Reserves

Bisnis.com
1181 Views
The coal mining company jointly owned by the Salim Group and the Bakrie Group, PT Bumi Resources Tbk. (BUMI), reported coal reserves of approximately 2.4 billion tons as of mid-2024, with an estimated resource potential reaching 6.81 billion tons.These figures come from BUMI's subsidiaries, PT Kaltim Prima Coal (KPC), PT Arutmin Indonesia (Arutmin), and assets in Pendopo."Our total reserves are 2.4 billion tons, and with the current production level of 80 million tons annually, this reserve will last for a considerable period, offering significant potential for further development," said BUMI's VP of Investor Relations & Chief Economist, Achmad Reza Widjaja, during a webinar hosted by Indonesia Investment Education (IIE) on Saturday (August 24, 2024).Specifically, KPC reported coal reserves of 721 million tons, while Arutmin recorded reserves of 327 million tons. Additionally, BUMI's assets in Pendopo are estimated to have reserves of around 1.3 billion tons.Reza also mentioned that the company continues to conduct further exploration on several concessions currently held by BUMI's business entities."We are still conducting exploration studies to determine whether the economic value of the coal justifies its development," he said.Earlier, BUMI reported an increase in net profit for S1 2024, despite a significant decline in revenue. According to the financial report, BUMI's net profit was recorded at USD 84.91 million (approximately IDR 1.38 trillion, using the JISDOR exchange rate of IDR 16,294 per USD).This profit represents a 3.76% year-on-year (YoY) increase compared to S1 2023, which was USD 81.82 million (around IDR 1.33 trillion).However, the company's revenue decreased by 32.76% YoY to USD 595.84 million (around IDR 9.70 trillion) in the first six months of 2024, compared to the same period last year, which was USD 886.27 million (approximately IDR 14.44 trillion).In line with the revenue decline, BUMI's cost of goods sold also decreased by 30.3% to USD 542.1 million, compared to USD 777.61 million during the same period in 2023.As a result, BUMI's gross profit dropped by 50.5% to USD 53.74 million, compared to USD 108.65 million in S1 2023. The company's cash and cash equivalents at the end of the period were recorded at USD 55.77 million, down from USD 87.21 million in the same period the previous year.According to the balance sheet, BUMI's total assets were recorded at USD 4.21 billion at the end of June 2024, compared to USD 4.20 billion at the end of December 2023.The company's liabilities amounted to USD 1.34 billion, down from USD 1.42 billion at the end of 2023. Meanwhile, BUMI's equity stood at USD 2.86 billion, compared to USD 2.77 billion at the end of 2023.
News
27 Aug 2024, 15:44 PM

BUMA Signs 9-Year Contract with PKP, Ready to Operate Large Mines in Kapuas

swa.co.id
1138 Views
PT Delta Dunia Makmur Tbk. ("Delta Dunia Group", IDX: DOID) announced that its subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), has signed a Mining Services Agreement with PT Persada Kapuas Prima (PKP) on August 12, 2024.PKP is a subsidiary of PT Singaraja Putra Tbk (SINI), which holds a coal mining concession in Kapuas Regency, Central Kalimantan Province. Under this agreement, BUMA will perform mining services, including overburden removal and coal mining operations.The mining services agreement will be effective throughout the life of the mine, with the initial phase planned for a nine-year period commencing in the fourth quarter of 2024.The initial phase of the mining services is expected to result in over 359,330,000 bcm of overburden removal and 60,600,000 tons of coal production, with a contract value exceeding IDR 12 trillion or more than USD 755 million.Indra Kanoena, President Director of BUMA, stated, "We are pleased to announce this new contract with PKP, which further strengthens the industry's recognition of BUMA's reputation and expertise in the Indonesian mining sector. The trust placed in us by prominent mine owners not only reflects BUMA and the Group's commitment to fostering strong and sustainable relationships but also underscores our dedication to prioritizing our clients' success."This new agreement serves as a testament to the confidence in BUMA's expertise in providing comprehensive mining services with a holistic approach, including overburden removal, mine planning, mining operations, transportation, and mine rehabilitation.With over 25 years of experience, BUMA has successfully managed complex and challenging mining operations, including those on small islands, resolving high-level technical issues such as seawater seepage management, handling of mud, anticipating and managing geotechnical challenges and tidal waves, and even river stream relocation to minimize environmental impact and achieve optimal operational efficiency.These operational excellences are further supported by the company's commitment to implementing innovative technologies in the mining sector and driving continuous improvement projects."At BUMA, we continuously strengthen the foundation for sustainable growth by exploring strategic opportunities and enhancing mutually beneficial relationships to grow together with our partners. Through a proactive business development strategy, we focus not only on acquiring and renewing contracts but also on creating stable and sustainable revenue streams. This is part of our efforts to continuously improve our service quality while managing operational risks," Indra concluded.
News
27 Aug 2024, 15:42 PM

China Agrees to Boost EV Investment in Indonesia

Foreign Affairs Ministry
1069 Views
China’s pledge to ramp up its investment in Indonesia’s electric vehicle (EV) industry has become one of the key outcomes of a recent bilateral meeting between both countries’ top diplomats.Foreign Affairs Minister Retno Marsudi headed to Beijing on Friday for the fifth round of the so-called joint commission for bilateral cooperation talks with her Chinese counterpart Wang Yi. China has been among Indonesia’s top foreign investors over the years. As the mineral-rich Indonesia tries to chase its EV dream, it is no surprise that Jakarta will try to convince Beijing to invest more in its e-mobility sector at every chance it gets. Friday’s bilateral meeting was no exception.“China is one of Indonesia’s important partners, including from an economic perspective. Both sides will try to build mutual trust and strengthen our mutually beneficial ties that are based on respect towards multilateralism and international law,” Retno said in a press statement following the meeting.“We have agreed to boost Chinese EV investment in Indonesia to support the development of the EV ecosystem,” Retno said.The EV ecosystem development is part of Indonesia’s plan to capture more value out of its commodities by having its natural resources processed into half-finished and finished goods at home. While China has invested in Indonesia’s domestic processing industry, Jakarta wants the partnership to embrace environmental, social, and governance (ESG) principles.“I underlined the importance of having a quality partnership that pays attention to ESG principles and international standards, including the UN’s Guiding Principles on Business and Human Rights,” Retno said.Just earlier this month, President Joko “Jokowi” Widodo launched a manufacturing plant belonging to Chinese battery material giant BTR in Kendal, Central Java. The facility can produce 80,000 tons of anode materials for lithium-ion batteries every year -- enough to support the manufacturing of 1.5 million EVs. BTR is planning to double the annual production capacity.Government data showed China had invested USD 3.9 billion throughout the S1 2024. China was Indonesia’s second-largest source of foreign direct investment (FDI) over the said period with Singapore topping the list as it invested about USD 8.9 billion.Indonesia also attracted IDR 181.4 trillion (USD 11.6 billion) in investments for the domestic processing industry throughout January-June 2024. About IDR 6 trillion went to the EV battery ecosystem, while IDR 80.9 trillion was related to nickel smelting investment, the government reported.

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