PT Bayan Resources Tbk (BYAN) received a loan in the form of a credit facility from PT Bank Central Asia Tbk (BBCA). BYAN signed this credit facility agreement on Thursday (7/12).The credit facility provided by BCA is USD 75 million. This loan consists of a revolving time loan facility with a maximum of USD 50 million. Then, the standby L/C facility is a maximum of USD 75 million. Lastly, the maximum forex forward line facility is USD 10 million.This loan facility has a term of 36 months from the signing of the banking facility agreement.Later, this credit facility from BBCA will be used by BYAN to finance working capital, support operational activities, and for foreign exchange transaction needs for BYAN and its subsidiaries.With this loan, BYAN will have a better opportunity to increase the allocation of funds to finance the operations of BYAN and its subsidiaries."This facility is guaranteed by a corporate guarantee provided by PT Bara Tabang, which is a subsidiary of BYAN," wrote BYAN Director Jenny Quantero in an information disclosure on the Indonesian Stock Exchange, Friday (8/12).

Jakarta - Mining holding MIND ID will soon add a 14% stake in PT Vale Indonesia Tbk (INCO). Quoted from the Indonesian Stock Exchange (BEI) information disclosure, Vale will increase capital through the issuance of shares with pre-emptive rights (HMETD) or a rights issue."INCO's HMETD ratio is 8,233:500 for shares (every holder of 8,233 old INCO shares has 500 HMETD to buy 500 new shares at an exercise price of IDR 3,050 per share)," read the IDX announcement as quoted, Monday (17/6/2024).The theoretical price of shares for the regular and negotiated markets on June 19 2024 is IDR 3,990. The theoretical price itself is the price applied by the stock exchange as a bargaining guide for shares at the start of the first trading on the regular market after the issuance of new shares.It was explained that INCO's share price at the end of the regular market on June 14 2024 was recorded at IDR 4,050. Thus, the theoretical price for bargaining guidelines and calculating the IDX Share Price Index and Individual Share Price Index is determined based on the formula (Rp. 4,050x8,233) + (Rp. 3,050x500)/8,233+500=Rp. 3,992,746."The theoretical price of INCO shares listed on JATS for the Regular Market and Negotiated Market on June 19 2024 is adjusted by the price fraction to IDR 3,990," the announcement further stated.Previously, Vale Indonesia President Director Febriany Eddy stated that the divestment process of Vale Indonesia shares would be completed this month. In this way, the divestment obligation has been completed.For information, Vale Indonesia shareholders will release 14% shares to the MIND ID mining holding. In this way, MIND ID ownership in Vale Indonesia will become 34%, from the previous 20%."The target is to be completed this month, this month everything should be completed. Now with the completion of this divestment process, the implementation of our divestment obligations will be complete," she said at a press conference, Jakarta, Monday (10/6).He said the divestment process itself was running smoothly. she said the divestment process began on February 26 with the signing of an agreement. In the divestment agreement, the transaction scheme was also agreed."I think the divestment process will be smooth, so after signing on February 26, we have agreed that the divestment execution will be through a rights issue and also a secondary issue which will be carried out at the same time," she said.

PT Bukit Makmur Mandiri Utama, a subsidiary of PT Delta Dunia Makmur Tbk (IDX: DOID), is increasing its capital by investing in shares in PT. Bukit Makmur International (BUMA International) on June 13 2024."This capital increase was carried out through the issuance of 532,358 new shares worth IDR 532.35 billion by PT Bukit Makmur Mandiri Utama and is not a material transaction in accordance with OJK regulations in POJK 17/POJK.04/2020," said Indra Dammen Kanoena as Main Director PT Bukit Makmur Mandiri in a written statement, Friday (14/6).He added that this increase in capital has no impact on operational activities, law, financial condition or business continuity of PT Bukit Makmur Mandiri Utama."This increase in capital is also not an affiliate transaction in accordance with OJK regulations in POJK 17/POJK.04/2020," continued Indra.For information, BUMA Internasional is a subsidiary of PT Bukit Makmur Mandiri Utama with 99% share ownership.Meanwhile, PT Bukit Makmur Mandiri Utama is a subsidiary of PT Delta Dunia Makmur Tbk (IDX: DOID) with share ownership of 99.99%.

PT Freeport Indonesia (PTFI) revealed that the company is targeting an export volume of 900 thousand tons of copper concentrate and anode slime until December 31, 2024, even though the permit actually expired on May 31, 2024.The government itself has issued a regulation, one of which grants an extension of the raw mineral export permit until the end of 2024, including to PTFI. This is stipulated in the Minister of Energy and Mineral Resources (ESDM) Regulation Number 6 of 2024 concerning the Completion of the Construction of Domestic Metal Mineral Refining Facilities."The export target is around 900 thousand tons by December (2024)," said PTFI President Director Tony Wenas, when met after the MINDialogue CNBC Indonesia event, Thursday (20/6/2024).However, he mentioned that even though the regulation has been formalized by the government, the company has claimed not yet received the export permit extension."The regulation (is there), but the export permit is not yet. It is still in the finalization stage," he added.It should be noted that the government approved the extension of the export permit for copper concentrate and anode slime for PT Freeport Indonesia and other copper companies until December 31, 2024.This is stipulated in the latest regulation, namely the Minister of Energy and Mineral Resources (ESDM) Regulation Number 6 of 2024 concerning the Completion of the Construction of Domestic Metal Mineral Refining Facilities.Established by Minister of Energy and Mineral Resources Arifin Tasrif on May 29, 2024, this regulation became effective on June 1, 2024."Considering that the construction of domestic metal mineral refining facilities by mining business license holders and special mining business license holders at the production operation stage for copper, iron, lead, and zinc commodities, which have entered the commissioning stage, requires additional time to produce optimally and contribute to economic growth," reads the consideration point of Minister of Energy and Mineral Resources Regulation No. 6 of 2024, quoted on Friday (31/5/2024).As is known, based on the current export permit, PT Freeport Indonesia and other copper, iron, lead, or zinc companies, including PT Amman Mineral Nusa Tenggara Tbk (AMNT), were granted export permits only until May 31, 2024.With the issuance of Minister of Energy and Mineral Resources Regulation No. 6 of 2024, the government has granted an extension of the concentrate export permit until December 31, 2024.Nevertheless, companies must also pay export duties according to applicable regulations, and the processing and refining facility project must be at the commissioning stage by the end of May 31, 2024, as stated in Article 3 paragraph (2).The complete regulation is as follows:Article 2:(1) The scope of this Ministerial Regulation regulates the completion of the construction of domestic metal mineral refining facilities by holders of mining business permits at the production operation stage for copper, iron, lead, or zinc metal mineral commodities that have entered the commissioning stage.(2) In entering the commissioning stage as referred to in paragraph (1), holders of mining business permits at the production operation stage for copper, iron, lead, or zinc metal mineral commodities who previously received export recommendations based on Minister of Energy and Mineral Resources Regulation Number 7 of 2023 concerning the Continuation of the Construction of Domestic Metal Mineral Refining Facilities are given the opportunity to sell processed products abroad until December 31, 2024.Article 3:(1) Holders of mining business permits at the production operation stage for copper, iron, lead, or zinc metal mineral commodities who are building their own refining facilities or collaborating to build refining facilities and have entered the commissioning stage can sell processed products abroad in certain quantities using the Harmonized System (HS) codes according to applicable regulations until December 31, 2024.(2) The sale of processed products abroad by holders of mining business permits at the production operation stage for copper, iron, lead, or zinc metal mineral commodities as referred to in paragraph (1) is conducted under the following conditions:   a. have produced processed products;   b. the physical progress of the refining facility construction has entered the commissioning stage by May 31, 2024, at the latest;   c. pay export duties according to applicable regulations; and   d. meet the minimum processing limits according to applicable regulations.(3) Collaboration to build refining facilities as referred to in paragraph (1) includes direct share ownership in business entities holding processing and/or refining business permits.Article 4:(1) Holders of:   a. special mining business permits at the production operation stage for copper metal mineral commodities; or   b. processing and/or refining business permits issued by the minister responsible for industrial affairs who have produced by-products or residues from copper metal mineral refining in the form of anode slime, can sell anode slime abroad in certain quantities using the Harmonized System (HS) codes according to applicable regulations until December 31, 2024.(2) The sale of anode slime abroad as referred to in paragraph (1) is conducted under the following conditions:   a. building their own advanced refining facilities; or   b. collaborating to refine with holders of mining business permits at the production operation stage for metal minerals and/or holders of special mining business permits at the production operation stage for metal minerals.Article 5:(1) The sale of processed products abroad as referred to in Article 3 and the sale of anode slime abroad as referred to in Article 4 is carried out after obtaining export approval from the director general responsible for foreign trade according to applicable regulations.(2) Before obtaining export approval as referred to in paragraph (1), holders of mining business permits at the production operation stage for metal minerals or holders of special mining business permits at the production operation stage for metal minerals must obtain recommendations from the Director General on behalf of the Minister.(3) The recommendation referred to in paragraph (2) is given for a period until December 31, 2024.

Jakarta — Nickel Industries Limited showcased its sustainability commitments and ongoing initiatives at the Indonesia Miner Conference 2024, which was held simultaneously with the World Environment Day 2024 celebration on June 5. Muchtazar, the Head of Sustainability at Nickel Industries Limited, delivered a keynote address that not only emphasised the company’s commitment to sustainable nickel production but also set a new standard for the industry.Muchtazar began his address by highlighting the urgent need for industries in Indonesia to adopt sustainable practices in their operations. “As one of the leading nickel producers globally, we are committed to ensuring our operations are sustainable and future-fit,” he said. “We understand that our actions today will shape the world of tomorrow, and we strive to make positive impacts.”He went on to detail the various initiatives Nickel Industries Limited has implemented to reduce the environmental impact of nickel production. These initiatives include significant efforts in decarbonising the company’s operations and its target to achieve net zero in 2050. Additionally, he explained the actions that the company takes to protect the biodiversity value by developing an in-situ conservation zone with a total of 200 Ha.“Sustainable nickel production can be achieved by maintaining the balance between the needs of the present generation and the abilities of the future generations to fulfil their needs,” Muchtazar added. “We need to operate in a way that is economically profitable, environmentally responsible, and socially acceptable.”He further explained that Nickel Industries Limited’s commitment to sustainability extends beyond its production processes. The company is also actively involved in various community outreach initiatives, including the recently announced university scholarship program and local people empowerment. “We are dedicated to growing together with the local communities in our operational area,” Muchtazar said. “Through our social programs, we prepare the next generations of leaders and changemakers.”Muchtazar concluded his address by reiterating Nickel Industries Limited’s commitment to leading the way in sustainable nickel production. He assured stakeholders that the company is dedicated to continuous improvement in its performance and will continue to invest in innovative solutions, which so far has enabled the company to obtain Green PROPER ratings in the past two consecutive years and achieve more than 16 million working hours without lost-time injuries in 2023.“Nickel Industries will continue its journey to become one of the largest nickel producers globally,” Muchtazar said. “We are a company that cares about the planet and people. We are committed to making a difference, and we invite everyone to join us on this journey towards sustainable and responsible nickel production practices.” 

PT RMK Energy Tbk (RMKE) recorded a net profit of IDR 308.9 billion throughout 2023. In line with that, the company pocketed operating revenue of IDR 2.6 trillion, or slightly down by 6.6% year on year, achieving the company's adjusted target of 100%.On the other hand, profit was also affected by the negative impact of RMKE's operational closure over the past three months, which could be minimized by revenue growth from the services segment of 24.0% year on year to IDR 769.5 billion."However, the coal sales segment experienced a considerable impact because in addition to the normalization of coal prices, it was also affected by lower coal production due to bad weather in the first semester, as well as operational constraints faced by the company in the second semester," said RMKE President Director Vincent Saputra during a press conference at Wisma RMK Jakarta on Thursday (18/4/2024).Meanwhile, this condition resulted in operating income from the coal sales segment decreasing by 15.6% year-on-year to IDR 1.8 trillion. In total, operating income was not significantly affected because it was supported by operational performance that could be maintained and accelerated at the end of 2023.The company's barge load volume was 7.6 million metric tons of coal, a slight decrease of 3.2% and coal sales volume was 2.4 million metric tons of coal, a slight decrease of 5.4% compared to the same period last year.In addition, RMKE increased its equity by 23.1% year on year to IDR 1.5 trillion and managed its financial ratios well and following the credit terms set by its lenders, DER of 0.52 times.RMKE's financial debt increased by 133.8% year-on-year to IDR 507.8 billion to fund the company's working capital. Until the end of 2023, RMKE managed to maintain positive cash from operating activities of IDR 187.4 billion.Vincent said that the target to be achieved in 2023 is to maintain positive performance by minimizing the negative impact of operational constraints faced by RMKE in the second semester."Overall, RMKE is still performing very well despite the challenges of extreme weather, normalization of coal prices, and operational constraints," Vincent said."In 2024, the Management is more optimistic with the completion of operational constraints by fulfilling administrative sanctions to the regulator and RMKE is ready to focus on operational activities going forward," Vincent said. Image source:  IDX Channel / MNC MediaSource: https://www.idxchannel.com/market-news/rmk-energy-rmke-kantongi-laba-rp3089-miliar-di-2023  

PT Aneka Tambang Tbk (ANTM) will improve all core commodities production and sales performance this year. The company is optimistic that the trend of gold demand in Indonesia will increase again in 2024, followed by other commodities."ANTAM focuses on a customer-based development strategy in the country, especially in nickel ore and bauxite products. ANTAM also remains optimistic that the trend of gold demand in Indonesia will increase again in 2024 and will tend to stabilize for the next few years," said Nicolas D. Kanter, President Director of ANTM in ANTM's 2023 annual report, quoted on Thursday (18/04).He added that ANTAM is committed to keep developing strategic projects to support minerals downstream and focus on implementing a sustainable business.In ferronickel products, ANTAM targets production and sales volumes of 22,464 TNi each. The ferronickel production target grew 5% from the 2023 ferronickel production achievement of 21,473 TNi, while the ferronickel sales target grew 12% from the 2023 ferronickel sales achievement of 20,138 TNi."ANTAM has taken into account the utilization rate and operating stability of ANTAM's ferronickel plant in Kolaka, Southeast Sulawesi in setting ferronickel production and sales targets," he said.In 2024, ANTAM targets total nickel ore production used as raw material for ANTAM's ferronickel plant and sales to domestic customers of 20.58 million wmt, growing 53% from the 2023 nickel ore production of 13.45 million wmt.Nickel ore sales are targeted to reach 18.75 million wmt or grow 60% from the 2023 nickel ore sales of 11.71 million wmt in 2024.In the precious metals segment, ANTAM will continue to innovate precious metal products and sales services in 2024. ANTAM targets gold production in 2024 from the Pongkor gold mine to be 958 kg (30,800 troy oz).Meanwhile, gold sales in 2024 are targeted to reach 37,354 kg (1,200,959 troy oz), an increase of 43% from the 2023 gold sales achievement of 26,129 kg (840,067 troy oz). In addition, the production and sales target for silver metal is planned at 5,668 kg (182,230 troy oz).In the bauxite and alumina segment, along with the stipulation of the bauxite ore export ban that took effect in 2023, ANTAM will focus on developing bauxite ore sales in the domestic market.For the bauxite ore commodity, the company targets a production volume in 2024 of 3.47 million wmt per the level of bauxite demand for the Tayan Chemical Grade Alumina (CGA) plant and projected sales of bauxite ore to third-party customers.This production target grew by 72% compared to the 2023 bauxite production of 2.01 million wmt.Regarding bauxite ore sales, ANTAM targets a sales level of 3.05 million wmt, a significant increase of 103% compared to 2023 bauxite sales of 1.50 million wmt."Overall, the operational targets set by the company in 2024 are dynamic and open to adjusting to the level of market absorption and commodity prices in the domestic and global markets," Nicolas said. Image source: KONTAN / Doc. ANTAMSource: https://industri.kontan.co.id/news/aneka-tambang-antm-siap-genjot-produksi-pada-tahun-ini 

PT Harum Energy Tbk (HRUM) has entered into a strategic partnership to develop its nickel portfolio as part of its business diversification strategy. The company has signed a memorandum of understanding with a Chinese company, Eternal Tsingshan Group Limited (ET) as a strategic partner. The signing was carried out on April 5, 2024.Quoting the disclosure of information from the Indonesia Stock Exchange (IDX), most of HRUM's nickel business portfolio is under controlled companies, namely PT Harum Nickel Perkasa (HNP) and PT Tanito Harum Nickel (THN), which include majority ownership in PT Position, PT Infei Metal Industry, PT Westrong Metal Industry, PT Blue Sparking Energy, and minority ownership in PT Sunny Metal Industry.ET is a company incorporated in Hong Kong SAR and, through its affiliates, has invested extensively in Indonesia, primarily in nickel processing and refining activities (Mitra Group). The Mitra Group is also the operating partner of the company's smelter project and the manager of the Weda Bay Industrial Estate in North Maluku Province, where the projects are located.To realize the strategic partnership, the company's subsidiaries, HNP and THN, intend to initially issue mandatory convertible debentures (SUWK) which will be subscribed by the strategic partner either directly or through one or more companies to be determined later.The SUWK will be converted into new shares in HNP and THN representing an effective shareholding of up to 49% in the Company's Nickel Portfolio, whereby the terms including the principal amount, maturity date, and conversion period of the SUWK will be agreed upon by the parties, subject to applicable regulations.Following the conversion of the SUWK, the Company remains the effective majority shareholder in the Company's Nickel Portfolio.“The company and its subsidiaries will use the proceeds obtained from taking part in the SUWK to settle some of the obligations relating to some assets acquisition in the Company's Nickel Portfolio," wrote the company management on Thursday (18/4).Both parties will then prepare the documentation and all requirements to realize the strategic cooperation and the issuance of the SUWK following applicable regulations."The Company and Strategic Partner are targeting that the SUWK can be issued in the third quarter of 2024," he said.The strategic cooperation planned in the memorandum of understanding is expected to bring benefits and create various business opportunities for the company, including obtaining synergies from the combined experience and capabilities of the company and partner groups in the mining and processing of nickel products to maximize the efficiency and operational performance of the company's nickel portfolio going forward.More benefits for the company would be to ensure the sustainability of the management and operation of projects in the company's nickel portfolio through strategic cooperation between the company and the partner group.In addition, to improve the capital structure of the company's nickel portfolio through a decrease in the ratio of liabilities to equity after the SUWK conversion implementation. Then, forming an integrated nickel industry portfolio from upstream to downstream with diverse nickel products, to increase the Company's ability to raise funds to finance further business development.Furthermore, the benefits are to support technology transfer efforts in the nickel refining and processing industry, support knowledge transfer efforts in marketing activities, and access to the supply chain of the stainless steel and battery industry in the global market.The company believes that the signing of the memorandum of understanding has no material negative impact on the operational, legal, financial, or business continuity."There is no affiliation between ET and the company, HNP and THN. Apart from the memorandum of understanding signed by the company and ET, there are no other definitive documents signed in connection with the strategic cooperation, therefore there have been no transactions carried out by the Company or companies controlled by the company as a realization of strategic cooperation," he concluded.Image source: doc. Harum EnergySource: https://www.cnbcindonesia.com/market/20240418094043-17-531223/gandeng-raksasa-china-harum-energy--hrum--genjot-bisnis-nikel 

Nickel prices hit a seven-month high on Friday, driven by market talk of Chinese plans to buy the metal for state stockpiles and worries about tighter supplies from top exporter Indonesia.Three-month nickel CMNI3 on the London Metal Exchange (LME) was up 3.7% at USD 19,250 a metric ton at y 1358 GMT. The metal, used in stainless steel and electric vehicle batteries, hit USD 19,440 earlier, which is its highest since September.Nickel was boosted by market talk that China’s stockpiler, the National Food and Strategic Reserves Administration, was planning to buy nickel pig iron (NPI), the main feedstock for stainless steel as industry sources said.One nickel industry source said they had heard China’s stockpiler was seeking 200,000 tons of NPI. The source, who asked not to be named, said it was not known how much China would pay or which firms would provide the nickel.However, two other industry sources said the number was significantly lower and put the amount China was seeking at 20,000 tons of NPI. NPI contains about 10% of nickel on average.The National Food and Strategic Reserves Administration did not immediately respond to a request for comment.Meanwhile, Indonesia, the world’s biggest nickel producer and a major supplier to China, is still reviewing applications for mining quota approvals and is yet to issue the permits in full.“Ore supplies are incredibly tight in Indonesia. That is again constricting production,” the first source said.Every week, nickel prices were heading for an 8% increase, their biggest weekly gain in ten months, due to upbeat sentiment towards base metals MET/L and supply concerns after Washington and London decided to prohibit the LME and CME from accepting newly-made Russian nickel, aluminum, and copper.Image source: doc. CME GroupSource: https://www.hellenicshippingnews.com/nickel-price-hits-seven-month-high-on-talk-of-chinese-government-buying/ 

Officials from the State-Owned Enterprises (SOEs) Ministry visited PT Timah in Bangka Belitung Islands province to ensure the smooth running of business processes in the state tin mining company."Our visit is to learn about the company's business, performance, and strategic steps, as well as the challenges faced in running business," said Muhammad Khoerur Roziqin, Assistant Deputy for Mineral and Coal Industry in a written statement on Saturday.He urged Timah to stay focused on its operations so that it can make an optimal contribution to the nation.Meanwhile, Akhmad Fazri, the finance director at the state mining industry holding company MIND ID, said that his company wants Timah to return to its former glory and current market dynamics."Given these dynamics, MIND ID and the SOEs Ministry want to see PT Timah recover with the government's regulatory support. Now, tin has been listed as a strategic mineral. This is to secure the mining business with the regulation," Fazri said.He expressed the hope that Timah's transformation can bring tin back to its golden days.Timah President Director Ahmad Dani Virsal spoke about the company's business processes, performance, global tin business map, Indonesian tin ecosystem, and the strategic issues faced.He also outlined proposals for improving tin governance."Indonesia is one of the world's tin producers, but there are many dynamics that have occurred in this tin mining business since a long time ago," he said.He also praised the government, which has supported the improvement of tin governance and industry in the country. Image source: ANTARA / HO-Humas PT Timah TbkSource: https://en.antaranews.com/news/311304/soes-ministry-visits-timah-eyes-smooth-tin-mining-operations