Archi Indonesia (ARCI) spent USD 4.01 million or IDR 60.2 billion in exploration funds. This fee is for exploration activities for the January-June 2023 period. Exploration activities are carried out by Meares Soputan Mining (MSM) and the Tondano Nusajaya Mine (TTN).Exploration activities for the January-June 2023 period focus on mapping activities, soil sampling programs, and IP geophysics in the greenfield area, and semi-detailed to detailed mapping in the brownfield area of ​​the western corridor project.Exploration drilling activities and development of Gold Resources (Gold Resource Definition) in the western corridor project, and exploration drilling in the eastern corridor. Drilling activities for gold resources, and exploration using the diamond drilling (DD) drilling method, and reverse circulation (RC) were completed through agreements/contracts with PT Maxidrill Indonesia. Archi owns 100 percent of the Toka Tindung Gold Mine, located approximately 35 km northeast of the capital Manado, North Sulawesi, via MSM, and TTN. The Toka Tindung Gold Mine consists of two long-term contracts of work covering a total area of ​​39,817 hectares spanning North Minahasa Regency and Bitung City, North Sulawesi. The contract of work, valid until 2041, is held by MSM and TTN. In accordance with changes to the mining law, MSM and TTN were guaranteed two more contract extensions of work in the form of a Special Mining Business Permit (IUPK), each extension for a maximum period of 10 years. Image source: EmitenNews.comSource: https://emitennews.com/news/eksplorasi-emas-toka-tindung-archi-indonesia-arci-habiskan-anggaran-rp602-miliar

PT Cita Mineral Investindo Tbk (CITA) announced CITA's exploration activities in the second quarter for the period April to June 2023.CITA Corporate Secretary Yusak Lumba Pardede in his written statement Monday (10/7) said that the exploration area in the Blocks of Sandai Kanan, Muara Jekak, Meraban, Lembah Hijau and Simpang Dua and its surroundings uses the core drilling method and Uji wells.Yusak further explained that the exploration results in the Sandai Block yielded 1,355 samples & Area 143.8 Ha, 585 Drill/Drilling Grid 50 with 852 samples then 16 Tetpit Grid 50 with 94 samples & Area 156.8 Ha, 627 Drill/Drilling Grid 50 with 1,860 samples in the Muara Jekak Block.The exploration at Simpang Dua produced 31 Drilling Grid 50, Grid 100 with 80 samples and 75 Testpit Grid 50 with 109 samples & an area of ​​23.25 Ha, 93 Drilling Grid 50 with 168 samples in the Lembah Hijau Block.Thus the total exploration costs incurred by CITA in the April to June 2023 period amounted to IDR 2.15 billion.Image source: EmitenNews.comSource: https://www.emitennews.com/news/habiskan-miliaran-rupiah-cita-mineral-cita-eksplorasi-3-lokasi-ini

PT Merdeka Battery Materials Tbk (MBMA) continues exploration activities with a focus on nickel resources in Sulawesi Cahaya Mineral (SCM). Where in the second quarter of 2023, a subsidiary of PT Merdeka Copper Gold Tbk (MDKA) owned by Garibaldi Thohir has poured out quite a large amount of exploration funds.GM Legal/Corporate Sectretary of PT Merdeka Battery Materials Tbk Deny Greviartana Wijaya said the total estimated exploration costs incurred for the SCM project or mine in the April to June period were IDR 31.3 billion. Consists of drilling the life of mine resources and associated test work. The area is the SCM project, Konawe, Southeast Sulawesi.The areas selected for the exploratory drilling program are areas that are close to the current mine pits and in accordance with future mining plans."A total of 304 drill holes have been completed with a total of 8,178 meters during the second quarter of 2023," he said in the IDX information disclosure quoted on Wednesday (12/7).All work was completed by PT Sulawesi Cahaya Mineral. The next follow-up plan is that the diamond drilling program will continue using 15 drill rigs for resource and exploration drilling. Merdeka Battery Materials said Deny has several high-quality business assets in the strategic mineral value chain. As well as raw materials for electric motorized vehicles located in Central Sulawesi and Southeast Sulawesi.Image source: MBMASource: https://katadata.co.id/lonaolavia/finansial/64adecbf32a67/merdeka-battery-ungkap-perkembangan-terkini-eksplorasi-nikel-di-scm

Indonesia may have its own nickel price index. Currently, the Indonesian Nickel Miners Association (APNI) and the government, in this case the Coordinating Ministry for Maritime Affairs and Investment (Kemenkomarves), are working hand-in-hand to make preparations to realize this ambition.APNI Secretary General Meidy K. Lengkey said domestic nickel industry stakeholders plan to meet with a number of price index providers such as Argus Media and the London Metal Exchange (LME)."They (LME, Argus Media, etc.) are experts in pricing commodities," said Meidy in Jakarta, Monday (10/7).The discourse to form an Indonesian Nickel Index has been rolling in the last few years. The goal is to form a price index that better reflects domestic nickel prices. This is because currently the benchmark mineral price (HPM) is still oriented to the price from the London Metal Exchange (LME).The idea to form an Indonesian nickel index was initiated by APNI. According to Meidy, this plan has received the green light from the government. "Now it's with the government, it's progressing, it's still on progress. Later maybe in August and September the smelters will be invited by Pak Luhut," said Meidy.APNI and the government's intention to form their own nickel index was confirmed by the Spokesperson for the Coordinating Minister for Maritime Affairs and Investment Jodi Mahardi. According to the plan, the index will be named Indonesia Nickel Price Index."Indonesia is planning to form the Indonesia Nickel Price Index which is targeted to be formed by the end of this year," said Jodi when contacted on Tuesday (11/7).Jodi said, the concept of forming the Indonesia Nickel Price Index is in line with the existing concept of Reference Coal Prices (HBA). The existence of the Indonesia Nickel Price Index, according to Jodi, can bring a number of benefits. One of them is providing price certainty for mining business actors and smelter owners and protecting them from price fluctuations on the LME market."By having our own nickel price index, we can better monitor market conditions and adjust policies as needed," said Jodi.Chairman of the Association of Indonesian Mining Experts (Perhapi) Rizal Kasli said it was fitting for Indonesia as a country with large nickel reserves to have a nickel index. According to him, the index needs to be pursued so that it can be used as a basis for reference for world nickel sales. "The first advantage is Indonesia's recognition as the world's largest producer of nickel. Second, we can control world nickel prices. Third, miners, traders and the government have a price standard as a benchmark that does not depend on institutions from other countries," Rizal told on Tuesday (11/7).Nickel companies, including PT Trimegah Bangun Persada Tbk (NCKL), received a positive response to the plan to form an Indonesian nickel price index."We support the government's plan to form a nickel index which can later become a reference for the price of nickel produced and sold in Indonesia," NCKL's Corporate Affairs Manager, Anie Rahmi told on Tuesday (11/7).Director of PT Central Omega Resources Tbk (DKFT), Andi Jaya, said that the formation of the Indonesian nickel index would make the nickel trading system more in line with domestic conditions.In addition, according to him, this step can also help nickel industry stakeholders make better decisions."With the existence of the Indonesian Nickel Index, it can provide more detailed and transparent information regarding nickel prices and trading activities in the domestic market, so that industry players, investors and other stakeholders can get a clearer view of market trends and make good decisions. ,” explained Andi.Finance Director of PT Vale Indonesia Tbk (INCO), Bernardus Irmanto, said that the formation of the Indonesian nickel index could provide a large bargaining position for Indonesia in the nickel industry."As the owner of the largest nickel ore deposit, it is appropriate for Indonesia to have bargaining in determining pricing," said Irmanto.Nevertheless, he admits that he has not been able to measure the impact of the establishment of the index on business actors."Actually, for businesses, we need a functioning index, so that it provides a degree of certainty for our revenue. I can't comment yet whether (the Indonesian nickel index) is better for businesses (compared to the LME) before knowing how the index was formed," said Irmanto.Image source: ANTARA FOTO/JOJONSource: https://industri.kontan.co.id/news/indonesia-nickel-price-index-ditargetkan-terbentuk-akhir-2023

PT United Tractors Tbk (UT) won an award as the best workplace in Asia. This award was given directly by Dato William Ng (Group Publisher Editor-in-Chief Business Media International) to Abun Jufar Jaya (Human Capital General Manager) and Nurdiansyah Budiman (Organization Development & Productivity Senior Manager) who took place at the Ritz Carlton Pacific Place Hotel , Jakarta. The categories given to UT as a company that implements Diversity, Equity, and Inclusion (DEI) and the Best Companies to Work for in Asia.This award is given by HR Asia as an international publication media institution for professionals in the field of Human Resources which measures how companies carry out Human Resources (HR) practices by demonstrating a high level of employee engagement and an excellent workplace culture.In the Diversity, Equity, and Inclusion (DEI) category, this award refers to UT's commitment to creating an inclusive and equal work environment. This achievement is concrete proof that UT has a high commitment in implementing DEI in the company's business operations.In addition, the award for the best workplace in Asia category shows that UT always pays attention to the welfare, health and balance of its employees. The various initiatives and programs that UT carries out aim to have a positive impact on a good work environment. With this, UT will continue to strive to prioritize holistic employee development.Human Capital General Manager, Abun Jufar Jaya said that the achievements at this event were a sign of UT's commitment to prioritizing the health, welfare and development of its employees. UT will always provide career development opportunities and encourage balance and integration in the work environment.“UT would like to thank HR Asia for the award given to our company. This award further motivates us to continue to strive for a comfortable work environment in order to achieve maximum productivity through various systematic competency and capability improvement programs," said Abun Jufar Jaya.This award was given to more than 300 companies from 13 countries who participated in this prestigious event. These countries include China, Cambodia, Hong Kong, Indonesia, India, Korea, Macau, Malaysia, Philippines, Singapore, Taiwan, Thailand and Vietnam. The appraisal process involves comprehensive steps, including online surveys of employees, office visits, presentations, and audits.Through this award, UT will always be committed to improving a conducive work environment to support business operations in achieving productivity and targets to be achieved. Not only that, UT also puts forward the sustainability targets that have been set out in UT's 10 Sustainability Aspirations so that the Company's vision and mission to create benefits for stakeholders and the welfare of Indonesia can be achieved.PT United Tractors Tbk (UT) which is known as the largest heavy equipment distributor in Indonesia has been established since 1972. Currently UT has grown and has six business pillars, namely Construction Machinery, Mining Contracting, Coal Mining, Gold Mining, Construction Industry and Energy . As UT's contribution to achieving the Sustainable Development Goals (SDGs), UT consistently carries out activities that uphold sustainability.As a world-class heavy equipment, mining and energy company with more than 50 years of experience in Indonesia, UT is committed to presenting a sustainable future for Indonesia through the effective application of ESG principles by paying attention to the environment, having a positive impact on the social community, and upholding good governance. a good company at all levels of its business operations, as well as optimizing its competencies, expertise and strategic assets to provide added value to all stakeholders and the people of Indonesia.Source: PT United Tractor TbkImage source: https://pressrelease.kontan.co.id/news/united-tractors-raih-penghargaan-tempat-kerja-terbaik-di-asia-versi-hr-asia

Investment Minister Bahlil Lahadalia on Friday gave the latest updates on Indonesia’s proposal for a global nickel cartel, saying that it has had intense talks with some unnamed countries.Resource-rich Indonesia has been proposing a group of nickel-producing countries that operates in a similar manner to the Organization of the Petroleum Exporting Countries (Opec). The Opec says it aims to coordinate the petroleum policies of its member states and keep the oil markets stable. And Indonesia wants to see a similar group for nickel, which is a key ingredient for electric vehicle (EV) batteries."There are three countries whom we already have been intensely communicating with," Bahlil told reporters in Jakarta on Friday, commenting on the progress of the Opec-style nickel group.The minister, however, refused to disclose the name of the said countries. When asked about their initial response to the plan, Bahlil said: "[they thought] it was a great idea, but we still need to work on the details of the proposal."President Joko “Jokowi” Widodo last month tried to pitch the Opec-style nickel cartel at Hiroshima's G7 Summit. Jokowi told the world leaders of Indonesia’s industrial downstream strategy, in which the country preferred refining raw minerals domestically rather than shipping out unprocessed ores. “I hope G7 countries can become a partner in these industrial downstream [policies]. It is time to establish an OPEC-like group for other products such as nickel and palm oil,” Jokowi said at the G7 Summit, as quoted by the Presidential Secretariat.According to the 2023 US Geological Survey report, Indonesia and Australia hold the title as the countries with the world’s largest nickel reserves. Both countries’ nickel reserves amount to 21 million metric tons, respectively. Indonesia’s mines produced 1.6 million metric tons of the silvery metal in 2022. The nickel mine production in Australia reached 160,000 tons that year. Bahlil last year had proposed the nickel cartel to Canadian International Trade Minister Mary Ng on the sidelines of the G20 Summit. The US Geological Survey data shows that Canada’s nickel reserves stand at 2.2 million metric tons with its mine production in 2022 reaching 130,000 metric tons.“All this time EV producing countries are being protectionists. Consequently, countries that are producing the battery raw materials fail to enjoy optimum added values from the EV industry. We hope all nickel-producing countries can benefit from an evenly distributed added value,” Bahlil was quoted as saying by news outlet Antara last November.Image source: Antara PhotoSource: https://jakartaglobe.id/news/indonesia-in-talks-with-3-unnamed-countries-for-opeclike-nickel-cartel

The Minister of Investment/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia revealed that downstream production has made nickel-producing regions, such as North Maluku, record economic growth above the national average. Bahlil stated that the positive impact of the downstream focus carried out by the Indonesian government had made economic growth occur evenly, especially in areas producing nickel raw materials.One example is North Maluku. He revealed that before focusing on downstream, the regional economic growth was below the average national economic growth."Now North Maluku's economic growth is above national economic growth, which is 19 percent, even last year it was up to 27 percent," he said in a press conference held at the Ministry of Investment Building, Jakarta, Friday (30/6/2023).Based on data from the Ministry of Investment/BKPM, apart from North Maluku , other nickel-producing regions have also recorded economic growth above the national average. Central Sulawesi and Southeast Sulawesi, for example, recorded per capita growth of Gross Regional Domestic Product (GRDP) of 20.3 percent and 6.7 percent respectively in 2022. This achievement is higher than the average economic growth of 6.4 percent.Therefore, Bahlil firmly rejected the International Monetary Fund's (IMF) proposal, which asked the government not to expand downstream by stopping commodity exports.  "Even if the sky is falling, downstream will still be a priority for the country in the administrations of Joko Widodo and Ma'ruf Amin. Second, we will continue to enforce the export ban," said Bahlil.The IMF, through a report entitled IMF Executive Board Concludes 2023 Article IV Consultation with Indonesia , asked the government to consider removing restrictions on commodity exports in stages, and the cost-benefits of this policy need to be carried out periodically.  According to Bahlil, if the government continues to export commodities, millions of raw materials will be sent abroad without regard to environmental management, as well as loss of jobs and added value from the IMF recommendations."How many people did we fail to create job opportunities, how much value was lost as a result of this recommendation. So, it's a built in double standard. At the same time other countries are banning exports," he concluded.Image source: Special / Harita NickelSource: https://ekonomi.bisnis.com/read/20230630/9/1670565/dampak-hilirisasi-nikel-ekonomi-maluku-utara-melesat-19-persen

Electric vehicle battery manufacturer PT Merdeka Battery Materials Tbk or MBMA has appointed Andrew Phillip Starkey as director of the company. This decision was taken at the recent Annual General Meeting of Shareholders (AGMS).President Director of PT Merdeka Battery Materials Tbk Devin Ridwan said Andrew's appointment was made to strengthen the management structure in managing the increasingly large MBMA business. By consolidating the management structure and supported by Andrew's track record in the investment and mining sectors, it is hoped that it will make it easier for MBMA to maximize future opportunities to improve the Company's performance.Andrew himself has joined the Merdeka Group since 2022. Previously, he served as Managing Director at Macquarie Group, Vice President at Goldman Sachs and Executive Director at Presidio Capital. He also co-founded Pierfront Capital and served as Managing Director from 2016 to 2022."With the new management, we are committed to carrying out the business plan that has been carefully prepared, to be quoted on Saturday (1/7/2023).The company's AGMS for the 2022 financial year also approved a number of strategic decisions, including approval of the Annual Report along with ratification of the Consolidated Financial Statements for the 2022 financial year.With the appointment of Andrew, the composition of the MBMA board of directors after the AGMS is as follows.President Director: Devin RidwanVice President Director: Jason Laurence GreiveDirector: Titien SupenoDirector: Andrew Phillip StarkeyAdditional information, the company is a business entity PT Merdeka Copper Gold Tbk or MDKA which recently went public on the stock exchange in April 2023. Devin said, the realization of IPO funds of around IDR 92 trillion by the end of May 2023 had reached 53%, of which were used for early repayment of all principal debt to PT Merdeka Copper Gold Tbk and ING Bank NV, Singapore branch, each of USD 225 million and USD 75 million or equivalent to IDR 4.46 trillion.Other uses of the IPO funds are for the Company's working capital such as employee fees, professional fees and financial costs, and to finance the working capital of PT Zhao Hui Nickel (ZHN) (a subsidiary of the Company), such as the purchase of main raw materials, supporting raw materials, electricity costs. , as well as employee costs.At the AGMS, the shareholders also approved the use of net profit for the 2022 financial year, the majority of which will be allocated to strengthen the company's capital. In 2022, MBMA recorded revenue of USD 455.74 million with profit for the year of USD 37.85 million. As of December 31, 2022, the company's total assets have reached USD 2.42 billion. The company also looks optimistically at 2023. The increase in revenue is projected to come from the operation of the ZHN Rotary Kiln Electric Furnace (RKEF) smelter plant which has a target installed capacity of 50,000 tons of Ni in the form of Nickel Pig Iron (NPI) per year, the AIM project and PT Huaneng Metal Industry (HNMI), a high-tech conversion facility. -grade nickel matte (HGNM), whose 60% stake was recently acquired by the company.While the ZHN RKEF smelter and the AIM project are expected to start production after the construction process is completed in the second half of 2023. HNMI will produce HGNM containing more than 70% nickel by processing low-grade nickel matte produced by the RKEF smelter. Nickel matte is the main raw material for battery precursors and Class 1 Nickel. HNMI is currently in commercial operation and is expected to start making a positive contribution to MBMA's revenue in the second half of 2023.Just so you know, in 2022 MBMA's main source of income will come from the sale of NPI to foreign and domestic markets, amounting to USD 270.33 million and USD 185.4 million respectively. The NPI production comes from the RKEF smelters owned by PT Cahaya Smelter Indonesia and PT Bukit Smelter Indonesia, each of which has an installed capacity of 19,000 tons of Ni in the form of NPI per year. So that with the operation of the RKEF ZHN smelter, MBMA's total installed capacity will reach 88,000 tons of Ni per year.Image source: merdekacoppergold.com/Source: https://akurat.co/mbma-tunjuk-andrew-phillip-starkey-jadi-direksi

Issuer mining contractor PT Golden Energy Mines Tbk. (GEMS) recorded an increase in performance until the first quarter of 2023. GEMS's net profit increased to US$229 million or the equivalent of IDR 3.43 trillion (JISDOR exchange rate of IDR 15,000 per US dollar) in the first quarter of 2023.Based on the company's financial report, GEMS recorded revenue from contracts worth US$838.6 million or the equivalent of Rp.12.58 trillion in the first quarter of 2023. This revenue increased 55.56 percent on an annual basis from US $ 539.12 million.This revenue was obtained from overseas sales of US$606.8 million and domestic sales of US$231.8 million. Meanwhile, based on the segment, revenue from coal mining was US$820.4 million and coal trading was US$18.2 million. This increase in revenue helped raise GEMS's cost of revenue to US$438.9 million, or an increase of 47.95 percent from US$296.7 million on an annual basis or year-on-year (yoy).Golden Energy Mines was also recorded to have recorded a gross profit of 64.89 percent from US$242.4 million in the first quarter/2022, to US$399.6 million in the first quarter/2023. As a result, GEMS posted a net profit of US$229 million or the equivalent of Rp.3.43 trillion during the first three months of 2023. This net profit jumped 71.65 percent from the same period last year of US$133.4 million. Until the end of March 2023, GEMS posted total assets of US$1.38 billion, up from the end of December 2022 which was valued at US$1.12 billion. GEMS cash and cash equivalents increased to US$474.4 million in the first quarter of 2023, from US$329.59 million at the end of December 2022. Then, GEMS's total liabilities also increased to US$591.2 million in the first quarter of 2023, from US$570.8 million in 2022. GEMS's total short-term liabilities were recorded at US$503.13 million, and long-term liabilities of US$88.09 million. GEMS equity was recorded to have increased to US$790.7 million at the end of March 2023, from US$558 million at the end of December 2022. Previously, GEMS President Director Bonifasius said GEMS hoped that this year's revenue and net profit could be the same as in 2022. According to him, GEMS's revenue and net profit will depend on the selling price of coal.Bonifasius said, this year GEMS's coal production target is expected to be better than last year's. In 2022, GEMS will record 39 million tonnes of production and this year production is expected to reach 42 million tonnes. "In the first quarter of 2023, the actual production is approximately 10 million, approximately 25 percent. It's still on schedule ," he said.Image source: goldenenergymines.comSource: https://market.bisnis.com/read/20230629/192/1670248/golden-energy-mines-gems-cetak-laba-bersih-rp343-triliun-pada-kuartal-i2023

PT Atlas Resources Tbk (ARII) targets the export value to the Asian market throughout 2023 to reach 3.28 million tons, while coal sales to the domestic market reach 1.09 million tons.ARII President Director, Andre Abdi explained, the Ministry of Energy and Mineral Resources has given Indonesia's coal export quota of 518 million tons in 2023, up 4.2 percent compared to 2022 which amounted to 497 million tons."This policy is a big opportunity for ARII to increase the Company's production, sales and revenue," he said in a public expose in Jakarta, Friday (30/6/2023).He continued, coal prices are expected to rise gradually until the 2023 quarter when it enters winter at an average level of USD 70-80/ton (ICI4)."We also hope that the price increase will be followed by an increase in coal demand by 30 percent per year for the next 3 years," he added.For this reason, he said, the company will improve the quality of the Hauling Road by using geocell and geotextile technology to increase the capacity of coal shipments from the mine site to the port.In addition, he explained, the company will use Fly Ash & Bottom Ash from the combustion residue of PLTU DSSP Sumsel 5 which can reduce costs by up to 50 percent compared to using split stone."We are targeting the volume of Fly Ash & Bottom Ash to be applied in 2023 of 100,000 tons (KM 60 - KM 130)," he said.Image source:Source: https://www.emitennews.com/news/ekspor-mendominasi-atlas-resources-arii-bidik-penjualan-batubara-43-juta-ton-di-2023