MIND ID can serve as a reference for national mining companies in implementing downstreaming programs that contribute significantly to economic growth.Under the leadership of President Director Hendi Prio Santoso, MIND ID is committed to carrying out the mandate of mineral downstreaming in an integrated manner.This effort drives the increase in added value for mining products such as coal, contributing to economic growth towards Indonesia Gold 2045.At the Kumparan Award Impact Makers 2024 event, Hendi Prio Santoso received the Impact on Downstream Industry Leadership award on Thursday (December 19, 2024).This award was given in recognition of his achievements in realizing strategic projects, such as the construction of the copper smelter for PT Freeport Indonesia in Gresik, the Smelter Grade Alumina Refinery (SGAR) in Mempawah, and the collaboration between ANTAM and Freeport in gold management.MIND ID has also strengthened the electric vehicle battery industry ecosystem as part of the national energy transition.In addition to supporting national policies, this initiative has had a positive impact on the company's financial performance. MIND ID’s profit increased from IDR 1.82 trillion in 2020 to IDR 14.32 trillion in 2021.The profit continued to grow, reaching IDR 22.49 trillion in 2022, and rose by 22.4% to IDR 27.5 trillion in 2023.As one of the world’s leading mining companies, MIND ID plays a strategic role in supporting national economic growth and the achievement of Indonesia's Vision 2045.On this occasion, Hendi Prio Santoso urged industry players to optimize the strategic mineral potential that Indonesia possesses, particularly for the development of the electric vehicle battery ecosystem."The mineral and coal mining industry in Indonesia has a huge opportunity for development. We invite manufacturing industry players to take advantage of this potential to create greater added value for the national economy," said Hendi in a press release on Friday (December 20, 2024).

The Institute for Development of Economics and Finance (INDEF) stated that Indonesia is in a strategic position in the global energy transition trend through the development of the copper downstream industry.This development is believed to support low-carbon technologies while also increasing the national economic added value. INDEF's Executive Director, Esther Sri Astuti, mentioned that the copper downstream ecosystem in Indonesia has developed significantly and holds great strategic potential to meet global market demands.One of the key developments is the presence of PT Freeport Indonesia (PTFI) with the construction of a copper smelter at the Special Economic Zone (KEK) Java Integrated Industrial and Ports Estate (JIIPE) in Gresik, East Java, with an input capacity of 1.7 million tons of copper concentrate per year. Inaugurated by President Joko Widodo on September 23, 2024, this smelter is the world's largest single-line copper refining facility, capable of producing around 600,000 to 700,000 tons of copper cathodes annually.In addition, Indonesia also has a copper smelter and precious metals refining facility in West Sumbawa Regency, West Nusa Tenggara (NTB), under the management of PT Amman Mineral Internasional Tbk (AMMAN).Esther explained that Indonesia currently ranks 10th globally, holding around 3% of the world's total copper reserves, equivalent to 24,000 tons. This places Indonesia on par with China and above countries such as Kazakhstan, Zambia, and Canada. Meanwhile, the remaining 22% of global reserves are spread across other countries."Although Indonesia is not the largest owner of copper reserves, its position is quite strategic in the global copper industry. The significant reserves provide a strong foundation for Indonesia to develop an integrated and sustainable copper industry. Indonesia's position as the 10th-largest copper reserve holder in the world highlights its significant potential in the global copper industry," said Esther.With the increasing adoption of low-carbon technologies, global demand for copper continues to grow. The electric vehicle industry, in particular, has one of the highest demands, as this technology requires a significant amount of copper.Moreover, the development of renewable energy sources such as solar panels and wind turbines, as well as the digitization of infrastructure, further strengthens copper's role as a strategic material."This trend presents a huge opportunity for Indonesia to strengthen its copper downstream sector by adding value. From processing copper ore into concentrates to producing electric cables and vehicle components, each stage contributes significantly to the national economy," Esther added.Esther believes that Indonesia offers market certainty for long-term investment in copper downstreaming. Developing products such as electric vehicle components, energy storage systems, and smart energy infrastructure is considered strategic for strengthening national competitiveness.Furthermore, this success is supported by government policies that create an integrated industrial ecosystem. The implementation of the Mining Law (UU Minerba) has been a major driver in forming a strong supply chain between the upstream and downstream sectors."Policies that support sustainability and technological innovation are key to the transformation of Indonesia's copper industry. The transformation of the copper sector through downstreaming is expected to have a significant impact, both in increasing export value and creating jobs. INDEF notes that this sector could create hundreds of thousands of new jobs and make a substantial contribution to national GDP," Esther explained.With the growing global demand for low-carbon technology products, Indonesia also has the opportunity to become a key player in the global supply chain. This move not only strengthens the domestic economy but also positions Indonesia as a regional leader in the green technology sector.Additionally, the Minister of Energy and Mineral Resources (ESDM), Bahlil Lahadalia, also praised the presence of PTFI's smelter, which has created jobs and increased state revenue."The jobs are permanent now. State revenue is starting to rise. Our hope is that tomorrow, national entrepreneurs who have been granted mining permits, if they don't build smelters, I will personally review it. They must be forced to build smelters," said Bahlil.

PT PP Presisi Tbk (PPRE) is targeting a IDR 7 trillion nickel project in Morowali and Halmahera next year. This highlights PPRE's commitment to becoming a key player in the mining services sector as its core business.The President Director of PT PP Presisi Tbk, Arzan, stated that this move is supported by the growing global trend and the bright prospects of the mining sector in Indonesia. To ensure business sustainability, PPRE is also preparing several strategic steps moving forward."Expansion and massive growth in the mining sector, exploring new partnerships with nickel mine owners, and seeking new contract opportunities in other mineral sectors such as bauxite, tin, and coal. Optimizing Equipment Rental by increasing the utilization of idle assets through external project rental contracts," he said.PPRE reported that the contribution of its Mining Services business has been a major driver of new contract acquisitions over the first three quarters of 2024, reaching 72%, with projections to increase to 83.7% by the end of the year.Additionally, the company noted the dominance of the private sector market segment, which accounted for 91% of total new contracts through Q3 2024.One of the key focuses is the increase in Mining Equipment capacity, which absorbs 80% of the capital expenditure (CAPEX) allocation in 2024. This step is in line with the Company's strategy to continue developing its Mining Services business line as a key priority going forward.In addition, business diversification continues with a Selective Civil Work approach, where PPRE will synergize with PT Pembangunan Perumahan (Persero) Tbk, the Company's parent, to capture opportunities in the high-value civil engineering sector.Meanwhile, new contract acquisitions increased by 27% (YoY) to Rp6.3 trillion in Q3 2024, with a full-year estimate reaching IDR 7.9 trillion, a 17% increase compared to 2023.Revenue grew by 5.6% to IDR 2.7 trillion in Q3 2024 and is projected to reach IDR 4 trillion by the end of the year, a 19% increase compared to the previous year.Net profit rose by 12% to IDR 100 billion in Q3 2024, with a full-year projection of IDR 194 billion, a growth of 9.6%. The company's equity is projected to increase by 12% to IDR 3.9 trillion, reflecting strong and sustainable financial fundamentals.

PT Indonesia Morowali Industrial Park (PT IMIP) has reported a total production of Nickel Pig Iron (NPI) commodities in the IMIP industrial area amounting to 4.76 million tons, which were exported to China and several other countries.In addition to reporting the production of various commodities in the IMIP area, PT IMIP also provided updates on its total accumulated investments, work plans for the coming year, and the development of a solar power plant (PLTS) scheduled for 2025.IMIP has already exported NPI to China and several other countries, contributing foreign exchange earnings of USD 14.45 billion, or approximately IDR 232.6 trillion (at an exchange rate of IDR 16,100), during the period from January to November 2024.The Communications Director of PT IMIP, Emilia Bassar, stated that NPI (Nickel Pig Iron) is an iron product with nickel content below 15%. Although its sulfur and phosphorus content is higher than that of ferronickel (FeNi), this commodity remains a key export product of the IMIP industrial area."For NPI alone, we have produced a total of 4.76 million tons, and then 4.2 million tons of stainless steel. This is a substantial amount for the total production of commodities produced in the IMIP Industrial Area over the past 11 years," said Emilia Bassar, Director of Communications at PT Indonesia Morowali Industrial Park, during a press briefing in West Jakarta on Wednesday (December 18).Over the past 11 years, Emilia explained that the IMIP industrial area has also produced various other commodities, such as 4.2 million tons of stainless steel slab, 2 million tons of hot rolling steel coil, and 1.4 million tons of cold rolling steel coil.Other products include 821,000 tons of Mixed Hydroxide Precipitate (MHP), 750,000 tons of electrolytic aluminum, 140,000 tons of electrolytic nickel, and 600,000 tons of nickel iron wires.Furthermore, Emilia mentioned that the IMIP area is currently home to around 60 tenant companies, both domestic and international. Some of the companies already operating include PT Sulawesi Mining Investment, PT Indonesia Guang Ching Nickel and Stainless Steel Industry, and PT Indonesia Tsinghan Stainless Steel.“We have over 60 tenants such as PT Yong Wang Indonesia, PT Oracle Nickel Industry, and PT Detian Coking Indonesia. Additionally, there are construction projects like PT Green Eco Nickel and PT Chengtok Lithium Indonesia,” Emilia added.As the area continues to develop, the investment value in PT IMIP has been steadily increasing. By August 2024, the accumulated investment reached US$ 34.3 billion, or around IDR 552.5 trillion, a rise of USD 4.2 billion compared to 2023.In addition to contributing foreign exchange and increasing investments, PT IMIP also contributes to state revenues through taxes. In 2023, the company paid taxes totaling USD 1.16 billion.IMIP has also seen a significant increase in workforce absorption. In 2024, the number of workers in the Morowali area reached 84,859, a sharp increase from 35,952 workers in 2020."Every time a new factory is completed, the average increase in workers can reach 1,000 people per month," explained Emilia.In the coming year, PT IMIP will prioritize three strategic issues: accelerating nickel downstreaming, strengthening the electric vehicle battery raw material cluster, and developing power plants based on New and Renewable Energy (EBT)."We have also operated over 130 electric dump trucks as part of our commitment to supporting environmental sustainability," Emilia concluded.Furthermore, IMIP announced plans to prepare power plants based on New and Renewable Energy (EBT). IMIP is committed to promoting the use of clean energy, with one of its tenants already operating a Gas-Fired Power Plant (PLTGU). IMIP plans to develop a solar power plant (PLTS) next year.

PT Vale Indonesia Tbk. (INCO) is seeking a loan of USD 1.2 billion to kick-start a new mining block development project next year. This move to secure funding through a bank loan follows a credit rating upgrade from S&P Global Ratings, which raised INCO's rating to BB+ with a stable outlook, up from BB earlier this month."For the loan, it is currently in process, and the BB+ credit rating upgrade from S&P Global Ratings is a significant boost to our credibility," said INCO's Head of Corporate Communications, Vanda Kusumaningrum, when contacted on Wednesday (Dec 18, 2024). Vanda mentioned that the company has been developing three new mines in the Pomalaa, Morowali, and Sorowako blocks.According to INCO's data, the mining development project in Morowali is expected to be completed in Q4 2025, with an additional production capacity of 3.84 million tons of saprolite per year. By the end of this year, the Morowali mining development project, with a capital expenditure of USD 399 million, has reached 35% completion.Next, INCO is also pursuing the development of a new mining block in Pomalaa, which is expected to add an annual production of 28.15 million tons of saprolite and limonite. The capital expenditure for this new mining block is USD 1 billion, with operations expected to begin in Q2 2026. The Pomalaa mining project is currently 22% complete. Meanwhile, the new mining block in Sorowako requires an investment of about USD 257 million, with an expected additional annual production of 11.5 million tons of limonite. This project is expected to be completed by Q3 2026."Considering the large investment value, loans are one of the ways PT Vale is financing these mining development projects," said the company.As previously reported, INCO recorded a significant decline in net profit from January to September 2024, falling to USD 51.1 million. This decline was primarily due to lower revenue as a result of the drop in average nickel selling prices. According to its financial report as of September 30, 2024, INCO's net profit for the first nine months of 2024 dropped 78.55% year-on-year (YoY) from USD 238.27 million in the same period of 2023. The sharp decline in net profit was in line with the decrease in INCO's revenue by the end of September 2024.INCO's revenue fell by 24.45% YoY to US$708.5 million from US$937.8 million in the same period last year. This revenue was mainly driven by sales to Vale Canada Limited (VCL) and Sumitomo Metal Mining Co. Ltd. (SMM), both of which are related parties. Sales to VCL reached USD 562.9 million by the end of September, while sales to SMM totaled USD 145.65 million.Rizky Putra, Chief Financial Officer of Vale Indonesia, explained that the company has faced challenges, particularly due to the continued decline in nickel prices through Q3 2024. "This decrease was mainly caused by lower realized prices of nickel matte, along with a one-time effect from the maintenance of the coal grinding facility in September, which led to higher consumption of HSFO to replace coal usage," Rizky said in an official statement on Thursday (Oct 31, 2024).INCO reported an average realized price of USD 13,262 per ton for the first nine months of 2024, which was 29% lower than USD 18,596 per ton in the same period of 2023. At the same time, INCO's nickel production volume increased by 6% YoY from 51,644 tons to 52,783 tons. Similarly, the company's sales volume reached 53,429 tons, a 5.93% YoY increase from 50,435 tons in January-September 2023.

PT Bumi Resources Mineral Tbk. (BRMS) announced that as of the third quarter of 2024, it has recorded a revenue of US$ 108.5 million. This figure marks a remarkable 231% year-on-year (yoy) increase.Dileep Srivastava, the Independent Director and Corporate Secretary of BUMI, stated that gold prices are projected to remain high throughout this year and into early 2025 amid ongoing geopolitical tensions."BRMS is in a strong position to continue its solid performance," he told CNBC Indonesia on Thursday (December 12).Dileep continued, stating that the increase in production at the second plant in Palu last year has boosted gold production to 45,366 ounces by the third quarter of this year. This achievement has already surpassed the total production for 2023, which was 23,270 ounces, including third-quarter production of 18.6 thousand ounces."An 8.8% QoQ increase highlights the strong operational momentum of the company," he added.Additionally, BRMS reported higher mineral resource estimates for River Reef and Hill Reef in Palu. Certified by AMC Consultants (Australia), this estimate shows 4.2 million ounces of gold resources with a grade of 4.9 g/t, with 89% designated for underground mining. This strengthens BRMS's long-term growth potential.Furthermore, BRMS's flagship mine in Central Sulawesi, which holds reserves of 34.1 million ounces and resources of 40.2 million ounces with an average grade of 3.2 - 3.5 g/t, remains at the core of the company's growth strategy.The company is currently operating two plants with a combined processing capacity of 4,500 tons per day and plans to expand with a heap leach facility with a capacity of 4,000 tons per day, scheduled for the first quarter of 2025.Additionally, the commencement of underground mining at Block-1 Poboya, with a target grade of 4.9 g/t, is projected to increase gold production to 145.4 koz by 2027, a 165.6% increase.Beyond CPM, BRMS holds 126.1 million tons of untapped reserves in Banten, Aceh, and Gorontalo, which is four times larger than CPM's reserves. The company's flagship asset, Gorontalo Minerals, is expected to begin operations in 2026 with a capacity of 2,000 tons per day to process gold (average grade 1.69 g/t), which will further enhance the company's long-term growth potential.Dileep added that, for stock valuation, they are estimating a fair value for BRMS shares at Rp 550 per share."Based on the annualized 9M24 PBV of 5.2x, this represents a 40% discount compared to AMMN," he concluded.

PT Merdeka Copper Gold Tbk (MDKA) is set to begin operations at the Pani Gold Mine project, located in Pohuwato, Gorontalo. This project is said to have a mineral resource of 6.9 million ounces of gold.The Chief of External Affairs of PT Merdeka Copper Gold, Boyke Abidin, stated that with such a mineral resource, the Pani Gold Mine is expected to produce up to 300,000 ounces of gold per year. At its peak, production could reach up to 500,000 ounces annually."God willing, our mine in Pani, with the resource of 6.9 million ounces, is expected to produce 300,000 ounces per year. This is roughly equivalent to the production of mid-to-large scale mining companies. It’s no longer small but mid-to-large scale," Boyke said during an interview in Jakarta, as quoted on Tuesday (17/12/2024).Boyke also targeted the commissioning of the Pani Gold Mine project to be completed by the end of 2025, with the first gold production expected to begin in early 2026."Everything is still progressing according to plan. It is still on schedule so far. In the future, Pani will employ around 2,000 workers. In accordance with regulations, we are required to hire local people," he said.According to Boyke, the recruitment of workers for the Pani Gold Mine project is an important part of the company's commitment to empower the local community, in line with applicable regulations. The local people referred to are those who hold an ID card from the district surrounding the mine or, at the furthest, from Gorontalo Province."This is our commitment to start recruitment and training in January. We will recruit and then train so that the local community gains the necessary skills to work in mining, just like other Indonesians who are already accustomed to working in the sector," he explained.

The Statistics Indonesia (BPS) stated that the mineral downstreaming policy through smelting and processing facilities in West Sumbawa, West Nusa Tenggara, has the potential to boost long-term economic growth."The two mining companies in the area have hired a significant number of workers and boosted the economy in West Nusa Tenggara," said Wahyudin, Head of BPS West Nusa Tenggara, in Mataram on Tuesday.Wahyudin explained that if the smelter facility owned by PT Amman Mineral Nusa Tenggara is able to process not only mining products from West Sumbawa but also from other regions, the economic impact would be even greater.He cited the example of the nickel smelter in Bantaeng, South Sulawesi. Although the region does not have nickel mines, the smelter is able to process nickel produced from other areas."NTB already has mines and a smelter, so why not take advantage of resources from other areas? That’s what we are developing," said Wahyudin.He further explained that the establishment of a smelter in a region has a multiplier effect on the local community, such as the proliferation of restaurants, accommodations, and transportation services.Although there has been a decline in revenue from concentrate exports, the smelter that processes raw materials into higher-value products can increase the added value of natural resources. This, in turn, impacts the increase in regional income from the mining sector.Local governments receive taxes and levies from the smelter's operations, as well as royalties and profit-sharing from natural resources."The smelter is still targeting some market share overseas, which will later affect state revenue," Wahyudin added.Statistics Indonesia (BPS) reported that the export value of West Nusa Tenggara Province in November 2024 experienced a sharp decline of 97.78 percent compared to October 2024 due to the cessation of concentrate exports by Amman Mineral.In November 2024, the export value of commodities from West Nusa Tenggara amounted to just USD 5.56 million, supported by the export of fish and shrimp worth USD 2.87 million or 51.67%, fruits worth USD 1.12 million or 20.08%, and jewelry worth USD 900,254 or 16.19%.

The Titan Group is preparing to take its infrastructure services business entity, PT Titan Infra Sejahtera (TIS), public on the Indonesia Stock Exchange (BEI). TIS plans to conduct an Initial Public Offering (IPO) in 2025.TIS is an infrastructure service provider operating in South Sumatra Province. TIS has two subsidiaries, namely PT Servo Lintas Raya (SLR) and PT Swarnadwipa Dermaga Jaya (SDJ).SLR operates 118 kilometers (km) of road for the transportation of commodity materials, also known as hauling. Meanwhile, SDJ operates a port on the Musi River for shipping the commodities that are transported.President Director of SLR and SDJ, Victor B. Tanuadji, emphasized that the core business of TIS is in infrastructure. Victor is confident that TIS will be well-received by the market when it goes public and will remain attractive to investors who are concerned with environmental issues."This is purely infrastructure; there are no mining activities within TIS," Victor stressed in a written statement received by Kontan.co.id on Monday (December 16).For information, TIS is part of Titan Infra Energy. As a group, Titan Infra Energy has three business lines: energy infrastructure, energy services, and energy resources.In the energy infrastructure business line, Titan Infra Energy, through TIS, is involved in integrated logistics services via SLR and cargo port services through SDJ.Director of Operations at Titan Infra Energy, Suryo Suwignjo, is optimistic about the growth prospects for TIS. As an example of its financial performance, last year TIS recorded an EBITDA of US$100 million. "This year, we are optimistic that this figure will increase," said Suryo.Suryo explained that TIS's revenue is directly related to the volume of key commodities being transported, namely coal, which passes through the hauling road operated by SLR and is shipped via SDJ.He gave an example that this year, the amount of coal transported and shipped by TIS reached 21 million tons, a 16% increase compared to 18 million tons in 2023. Next year, the volume is projected to rise to 27 million tons.However, Suryo has not yet disclosed the exact number of shares that TIS will offer to the public in the upcoming IPO. "In accordance with exchange regulations, at a minimum, we will offer 10% of the shares," Suryo explained.On the other hand, Victor revealed the prospects for TIS going forward. Starting this year, PT Bukit Asam Tbk (PTBA) has begun shipping its coal production through TIS's hauling route and coal port. Victor said this development brings a fresh wind for TIS.Victor is confident that the amount of PTBA’s coal passing through TIS's roads will continue to increase year by year, especially with coal prices remaining relatively stable at around US$125 per ton.TIS has also taken steps to anticipate potential bottlenecks in the transportation route due to the surge in transport and shipping volumes. This year, TIS has expanded its port facilities from two to three ports, with five conveyors.Next year, TIS plans to add one more conveyor. Victor is optimistic about TIS's prospects in the future, in line with Sumatra's position as the second-largest coal producer in Indonesia.South Sumatra (Sumsel), where TIS operates, is the largest contributor to coal production on the island of Sumatra. The coal reserves in Sumsel amount to 9.3 billion tons, or about 25% of Indonesia's total national coal reserves of 37.6 billion tons.The concentration of coal mining in Sumsel is located in three regions: Muara Enim, Lahat, and Ogan Komering Ulu. In Muara Enim alone, there are at least 29 mining business licenses issued by the government.This year, the South Sumatra Energy and Mineral Resources (ESDM) Office targets coal production to reach 131 million tons. This presents a growth opportunity for TIS.Moreover, as coal reserves in Kalimantan begin to deplete and production costs rise, South Sumatra is expected to gain more attention. "This is the space that will shape the future for TIS," Victor concluded.

Mining contractor PT Putra Perkasa Abadi (PPA) recorded an overburden material production of 303.36 million BCM from January to November 2024, exceeding the target set for November of 296.15 million BCM.Adri Thanada, Head of Corporate Communication at PPA, said in a statement in Jakarta on Sunday that PPA projects its overburden production will reach 333.35 million BCM by the end of 2024.He mentioned that with its commitment to sustainability and innovation, PPA aims to become the second-largest mining contractor in Indonesia in the near future."In 2025, PPA will add several new projects. We are optimistic that next year, our overburden production will exceed 400 million BCM," said Adri.Meanwhile, mineral production, including coal and nickel, from January to November 2024 reached 64.27 million tons. This figure includes 60.57 million tons of coal and 3.7 million tons of nickel ore.By the end of 2024, PPA expects its coal and nickel production to reach 70.5 million tons, representing a 5% growth compared to the 2023 achievement of 66.8 million tons."This achievement underscores the operational efficiency and PPA’s ability to consistently meet the needs of our partners," said Adri Thanada.This milestone also cements PPA as one of the largest mining contractors for both minerals and coal in Indonesia, with 12,000 employees and operations across 14 coal and nickel mining companies throughout the country.Adri added that 2024 has been a "Golden Year" for PPA, as the company has won various national and international awards. PPA received the top award for the third time at the Good Mining Practices Award 2024, organized by the Ministry of Energy and Mineral Resources’ Directorate General of Mineral and Coal (Ditjen Minerba).Additionally, PPA received the Subroto Award for mining safety technology innovation and was named the Overall Winner at the 21st Indonesia Fire and Rescue Challenge.Furthermore, the Emergency Response Team (ERT) Garuda Rescue Nusantara, representing PPA, achieved impressive results at the Mining Emergency Response Competition (MERC) 2024 in Langley Park, Perth, Australia.Various other awards were also received in the fields of social welfare and environmental sustainability.Adri emphasized that PPA upholds the principle of Safe and Strong Operational Performance as the main foundation for delivering the best service.“We continue to innovate and create a positive impact, not only for the industry but also for the community and the environment. PPA is committed to setting new standards in sustainable mining practices. We also hope to be a source of blessings by quickly contributing to ESDM’s disaster preparedness initiatives whenever a natural disaster occurs,” added Adri.Under the coordination of ESDM’s disaster preparedness program, PPA's ERT is actively involved in humanitarian missions during disasters in Indonesia. Notably, the ERT has been directly involved in responding to the floods in Mahakam Hulu, East Kalimantan, the eruption of Mount Lewotobi in NTT, and the floods in Sukabumi, West Java.