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

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

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

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

 PT Ancora Indonesia Resources Tbk (OKAS)managed to grab the top gainer title during yesterday’s closing bell (16/5) in Indonesia Stock Exchange (IDX). A day before yesterday (15/5), the issuer was stuck at the runner-up position under PT Sarana Mitra Luas Tbk (SMIL) following its debt restructuring plan that resulted in positive sentiment among the public.Based on IDX data compiled by IDNFinancials today (17/5), OKAS’s stock price grew IDR 42 or 34.43% to IDR 164 per share from the initial IDR 164 seen on Monday (15/5). The growth presumably resulted from its announcement of obligation payment to Island Spice Investments Limited (ISIL), its new creditor, worth USD 18.24 million.The volume of traded shares clocked up to 308.73 million, all recorded in 23,019 transactions worth IDR 46.91 billion. OKAS’s shares were mostly sold by investors to gain capital as the price trend is increasing. Its foreign buy and sell clocked up to 8.38 million shares.Then, PT Jhonlin Agro Raya Tbk (JARR) arrived at the second position, rising 34.39% or IDR 65 to IDR 254 per share from IDR 189 per share. The traded shares were recorded at 41.16 million shares within 6,261 transactions worth IDR 10.08 billion. Source: https://www.idnfinancials.com/news/46907/okas-seized-smils-gainer-title

PT Kalimantan Alumunium Industry (KAI) and PT Kaltara Power Indonesia (KPI) have obtained a loan facility of IDR 2.5 trillion in total to aid the establishment of aluminium smelting facility and power plant in North Kalimantan. In the information disclosure quoted Wednesday (17/5), Mahardika Putranto, Corporate Secretary of PT Adaro Energy Indonesia Tbk (ADRO), the indirect parent company of KPI and KAI, said that this facility is intended to support investment and operational activities of the company. "The project development is an example of our commitment and participation in the government's mineral downstreaming programs," he said.The loan facility for KAI is set to IDR 1.54 trillion, which will be utilised to carry out the aluminium smelting plant project with a capacity of 500,000 tons per year. Meanwhile, the facility for KPI, amounting to IDR 952.1 billion, will be used to develop a power plant with a capacity of 1,060 megawatt (MW).  These two projects are located in the industrial area that will be developed by PT Kalimantan Industrial Park Indonesia. The facility will mature in 8 and 10 years, respectively, after the facility agreement was signed.The collateral submitted for this facility is a pledge of shares of PT Adaro Indo Alumunium (AIA) in KPI and PT Adaro Power (AP) in KAI, whose total value does not exceed the transaction value of the facility agreement. The facility agreement signing and the guarantee submission took place last Friday (12/5). Source: https://www.idnfinancials.com/news/46902/adro-subsidiary-secures-idr-loan

Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set a reference coal price (HBA) this month through Decree of the Minister of Energy and Mineral Resources Number 84.K/MB.01/MEM.B/2023 concerning Reference Metal Mineral Prices and Reference Coal Prices for May 2023. In the regulation, HBA in terms of calorific value of 6,322 kcal per kilogram (kg) GAR, 12.58 percent total moisture, 0.71 percent total sulfur and 7.58 percent ash is set at US$206.16 per tonne . "This price is used as a reference for the HBA during May in increasing royalty rates and for calculating the Coal Benchmark Price (HPB) calories greater than 6,000," said the Head of the Bureau of Communication, Public Information Services, and Cooperation (KLIK) of the Ministry of Energy and Mineral Resources, Agung Pribadi, as quoted from a press release, Monday (15/5/2023). The high calorie HBA, said Agung, is intended for the provision of electricity for public purposes, meeting the needs of raw materials or fuel for domestic industries in addition to industrial processing and refining of metal minerals.Furthermore, HBA in equivalent calorific value is 5,200 kcal per kg GAR, total moisture is 23.12 percent, total sulfur is 0.69 percent and ash is 6 percent. Determination that is categorized as HBA I is used as a reference HBA in the calculation of 5,200-6,000 calorie HPB. "HBA I was set at US$119.64 per tonne," said Agung. Finally, HBA in terms of calorific value of 4,200 kcal per kg GAR, total moisture of 35.29 percent, total sulfur of 0.2 percent and ash of 4.21 percent yielded a figure of US$82.23 per tonne. "HBA II is used as a reference HBA in calculating HPB calories less than or equal to 5,200," he said. Previously, he said, the formula for determining the HBA in principle aimed to obtain a reference price that could be accepted by the market taking into account state revenue. "This consideration is the basis for the need to issue regulations related to prices based on market mechanisms," he said. As is known, the HBA is formed from the average realized selling price of coal in the previous two months, with a proportion of 70 percent of the realized price in the previous month. In addition, the formation of the HBA was taken from 30 percent of the realized price two months earlier based on data on the realization of coal sales submitted by the mining business entity at the time of fulfilling the obligation to pay coal royalties.Source: https://ekonomi.bisnis.com/read/20230516/44/1656231/menteri-esdm-patok-hba-kalori-tinggi-mei-2022-di-angka-us20616-per-ton

PT Adaro Energy Indonesia Tbk (ADRO) will distribute dividend worth USD 1 billion from its net profit gained in 2022. This dividend is higher than the ones distributed from the 2021 net profit, which only reached USD 650 thousand. In the information disclosure quoted Tuesday (16/5), Mahardika Putranto, Corporate Secretary of ADRO, said that the dividend for the fiscal year 2022 is USD 500 million or USD 0.016 per share, while the dividend paid based on the Official Shareholders List is USD 500 million. The dividend allocation is made based on the total net profit attributable to the parent entity of USD 2.49 billion, retained earnings of USD 4.41 billion, and total equity of USD 6.52 billion.The dividend will be disbursed on June 6 to the ones in the official list recorded by May 24 (recording date). The cum and ex dividend in the regular and negotiation market has been set to May 22-23, while the cum and ex dividend in the cash market will follow on May 24-25. In 2022, the issuer had distributed an interim dividend for the fiscal year 2021 worth USD 350 million or USD 0.0112 per share, while the dividend paid according to the Official Shareholders List worth USD 300 million. In said year, ADRO recorded net profit of USD 933.49 million, retained earnings of USD 2.71 billion, and total equity of USD 4.45 billion. Source: https://www.idnfinancials.com/news/46886/adro-grant-dividend

 PT Petrosea Tbk (PTRO) will acquire 99.93% of shares of PT Kemilau Mulia Sakti (KMS) for USD 90.5 million. KMS is the holder of the Production-Operation Mining Business License in West Kutai, East Kalimantan, through its subsidiary, PT Cristian Eka Pratama (CEP).In the information disclosure quoted Friday (12/5), Aldi Rakhmatillah, Director of Petrosea, confirmed that KMS owns 4,950 shares or 99% of CEP, while 99.93% of KMS is controlled by PT Insan Global Pawulang (IGP). “The company had signed the Sale and Purchase Binding Agreement regarding conditional shares purchase with IGP yesterday (10/5),” he said.The companies involved in the transaction are not affiliated. PTRO’s initiative to acquire KMS is related to its business expansion plan in the coal mining sector. The purchase of IGP’s portion in KMS will be thoroughly completed after meeting all conditional precedence, no later than June 30, 2023. After the deals were officially concluded, IGP’s shares in KMS will be handed over to PTRO. (LK/ZH)Source:  https://www.idnfinancials.com/news/46861/ptro-acquire-mining-company-west-kutai

PT Indika Energy Tbk (INDY) signed a memorandum of understanding (MoU) with PT Bank KB Bukopin Tbk (BBKP) on 11 May 2023. This collaboration aims to encourage the development of electric vehicles in Indonesia and its ecosystem. Through this MoU, KB Bukopin will provide financial support to the company regarding electric vehicles and their ecosystem. However, it is not limited to the business of two-wheeled and four-wheeled electric vehicles, charging and battery infrastructure, as well as developing business by partnering with each other.Main Director of INDY Arsjad Rasjid said, Indika Energy as a private party is ready to support the development of the national electric vehicle industry. He said, one of the big challenges faced in developing an electric vehicle ecosystem is a matter of funding. "This collaboration can accelerate the development of the electric vehicle industry in the country. This is also part of the company's mission to present a comprehensive electric vehicle ecosystem in Indonesia," Arsjad said in a press release, quoted Friday (12/5/2023).Source: https://www.idxchannel.com/economics/indika-energy-indy-gandeng-bank-bukopin-kembangkan-ekosistem-kendaraan-listrik