PT MNC Energy Invesments Tbk (IATA) will issue bonds worth a maximum of IDR 1.5 trillion. The guarantee for these upcoming bonds includes the company's assets.Andi Tenri Dala Fajar, Corporate Secretary of MNC Energy Investments, said that the plan regarding this bonds issuance will be decided during the Extraordinary General Shareholders Meeting on June 16, 2023. "It is intended to reinforce the capital and financial structure of the company," he confirmed in the information disclosure quoted Thursday (11/5).The total value of the bonds will be equal to 126.53% of IATA's own equity of USD 75.35 million, as recorded in December 2022.The company manages PT Bhakti Coal Resources (BCR), the holding company of 8 coal mining companies with Mining Business Licenses in Musi Banyuasin, South Sumatra, claiming a total area of 72,478 Ha for 9 mining licenses. The area includes the ones owned by PT Bumi Sriwijaya Perdana Coal (BSPC) with projected coal resources of 147.7 million MT, PT Putra Muba Coal (PMC) of 76.9 million MT, and PT Indonesia Batu Prima Energi (IBPE) of 31.3 million MT. Furthermore, they have projected coal reserves of their own, of 92.3 million MT, 54.8 million MT, and 17.3 million MT, respectively.On top of this, PT Arthaco Prima Energi is expected to begin operating this year. Meanwhile, PT Energi Inti Bara Pratama, PT Sriwijaya Energi Persada, PT Titan Prawira Sriwijaya, and PT Primaraya Energi are under preparation to start operating this year and in 2024. Now, according to BCR's data, the estimated total resources clock up to 1.58 billion MT. (LK/ZH)Source: https://www.idnfinancials.com/news/46837/mnc-energy-issue-bonds-idr

PT Adaro Minerals Indonesia Tbk (ADMR), a subsidiary of PT Adaro Energy Tbk (ADRO) continues to drive downstream minerals through an aluminum smelter construction project in North Kalimantan (Kaltara). The smelter is targeted to be completed in the second quarter of 2025. For information, ADMR is developing an aluminum smelter through PT Adaro Indo Aluminum (AIA). AIA then established PT Kalimantan Aluminum Industry (KAI) in 2022 with a 65% stake to run an aluminum smelter project in Kaltara. Apart from AIA, KAI shares are also held by PT Cita Mineral Investindo Tbk (CITA) as much as 12.5% and Aumay Mining Pte. Ltd as much as 22.5%.Director of Adaro Minerals Indonesia Wito Krisnahadi said that the construction of the ADMR aluminum smelter in North Kalimantan is still ongoing. This project has an investment requirement of up to US$ 2 billion, which is separate from ADMR's regular capital expenditure (capex). ADMR has also finalized the smelter financing with several banks. However, this issuer is reluctant to reveal the names of the banks in question. "We should have signed or finalized it before the second quarter ended," said Wito in a press conference, Wednesday (10/5). In the early stages, the smelter is expected to produce around 500,000 tons of aluminum ingots per year which can then be increased to 1.5 million tons per year. To produce aluminum, ADMR requires an alumina supply of 1 million tonnes per year.Wito said ADMR had signed a Memorandum of Understanding (MoU) with a number of local alumina producers and traders to supply alumina to the smelter. The finalization or certainty of alumina supply for ADMR will be known about one year or six months before the Commercial Operation Date (COD) of the smelter in Kaltara. "About 50% of the supply comes from local, the rest from traders. But this is just an MoU because our COD smelter is still two years away," explained Wito. On the same occasion, President Director of Adaro Minerals Indonesia Christian Ariano Rachmat added, so far Indonesia has had a high dependency on aluminum imports. Within a year, Indonesia's aluminum imports could reach 1 million tonnes."If the price of aluminum is US$ 2,500 per ton, Indonesia can spend US$ 2.5 billion a year to import this product," he said. Such conditions cannot continue to occur because it will erode the national foreign exchange. Therefore, if the first phase of the ADMR smelter construction is completed, it is hoped that aluminum imports will be cut by half from the initial amount.Source: https://industri.kontan.co.id/news/adaro-minerals-indonesia-admr-genjot-penyelesaian-pembangunan-smelter-aluminium

PT Timah Tbk (TINS) this year will focus on allocating capex to increase mining production. This state-owned issuer has prepared capex funds worth approximately IDR 950 billion. TINS Corporate Secretary Abdullah Umar Baswedan said the funds came from internal sources as well as bank loans. "This year's capital expenditure, it is clear that the allocation is focused on the maintenance of production vessels. One of them is also to increase industrial tin production and support downstreaming. Our concern is increasing production for downstreaming," Abdullah told media crew in Jakarta, Wednesday (10/5) .Abdullah continued, this capex value is also part of the strict efficiency carried out by the Company. This year's capex budget is really channeled into activities to increase production, both for increasing metal production, tin ore and its derivatives. Meanwhile, TINS targets to increase tin ore production by 30% to 35% this year. As an illustration, tin ore production throughout 2022 will reach around 20,000 tons.Meanwhile, in the first quarter of 2023 TINS recorded a decrease in tin ore production of 4,139 tons, down 8% compared to the same period the previous year of 4,508 tons. Even metal production fell 18% to 3,970 tons in the first quarter of 2023 from 4,820 in 2022. Also sales of tin metal fell 26% to 4,246 tons from 2022: 5,703 tons. Responding to this, TINS explained that the decline in production occurred because world metal prices were still high and the ecosystem was considered not good. "We hope that by increasing production, prices can also improve," added Abdullah.Abdullah also said that this decline was caused by illegal mining activities. According to him, this causes environmental damage and an unhealthy economic climate. "With this, we hope that in the future, the tin ecosystem in Indonesia can be better so that healthy mining can be created and production can increase again," he said. Furthermore, in the first quarter of 2023 TINS recorded a decrease in revenue and net profit. TINS pocketed a profit of IDR 50.278 billion or a 91.6% drop in the first quarter of 2023 compared to the same period in 2022 which was IDR 601.46 billion.Income items fell 50.5% to Rp 2.171 trillion. In detail, tin metal sales fell 51.7%, remaining Rp 1.732 trillion. Not much different, tin chemical sales fell 62.7%, remaining Rp 176.43 billion. Coal sales increased 46.9% to Rp 78.955 billion. Then, sales of tin solder shrank 29.4% to Rp 79.596 billion. The company's assets as of March 2023 shrank to IDR 12.85 trillion from IDR 13.06 trillion in December 2022. Liabilities fell to IDR 5.80 trillion in the first quarter of 2023 from IDR 6.02 trillion the previous year. Meanwhile, equity until March 2023 rose to Rp 7.05 trillion compared to December 2022's position of Rp 7.04 trillion.Source: https://industri.kontan.co.id/news/fokus-tingkatkan-produksi-timah-tins-siapkan-capex-rp-950-miliar-pada-tahun-ini

PT ABM Investama Tbk is pursuing an increase in overburden removal (OB) volume to a level of 300 million bank cubic meters (bcm) in 2024. Along with this ambition, the issuer codenamed ABMM stock has budgeted US$ 250 million - US$ 300 million capital expenditure (capex) to support its heavy equipment purchase expansion agenda this year.ABMM Director, Adrian Erlangga said, his party had ordered heavy equipment at the beginning of the year. However, he did not specify the exact number of heavy equipment that ABMM had ordered or wanted to order this year. "Realized capex in the first quarter of 2023 is around US$ 100 million," Adrian said when met by reporters after the company's public expose event, Wednesday (10/5).ABMM's overburden removal performance continues to increase from time to time. The ABMM report shows that ABMM's overburden removal volume has increased in the last three years. In 2020, the realization of ABMM's overburden removal was in the position of 139.67 million bcm. This realization then rose 28% to a level of 178.56 million bcm, then again rose 14% to 202.90 million bcm in 2022.Meanwhile, ABMM's overburden removal volume in 2023 is planned to increase by 25% compared to the realization in 2022. In the first three months of 2023, the realization of overburden removal has again shown an increase to the level of 91 million bcm along with an increase in coal sales volume in other business lines, namely the coal mine. As a result, ABMM's revenue in the first three months increased 35.28% on an annual basis or year-on-year (YoY) from US$ 286.70 million in the first quarter of 2022 to US$ 387.86 million in the first quarter of 2023.Most of the revenue, which amounted to US$ 321.45 million or approximately 82.87% of which came from revenue in the mining contractor and coal mining segments. As revenue increased, profit for the year attributable to owners of the parent entity, aka ABMM's net profit, skyrocketed 233.55% YoY from US$ 31.78 million in the first quarter of 2022 to US$ 106.03 million in the first quarter of 2023. "Our growth is driven by mining contracting, so mining contracting always requires new tools for its growth and we are continuously investing in new tools and replacement tools from those that have run out," said Adrian.Taking a peek at the company's interim financial reports, ABMM's End of Year Cash and Cash Equivalents were in the position of US$ 266.23 million as of March 31, 2023. This amount increased by 20.16% compared to ABMM's Cash and Cash Equivalents at the Beginning of the Year which amounted to US$ 221.56 million.Source: https://industri.kontan.co.id/news/abm-investama-abmm-incar-volume-overburden-removal-300-juta-bcm-pada-tahun-2024

PT Aneka Tambang Tbk (ANTM) or Antam together with its subsidiaries PT International Mineral Capital (PT IMC) and Hong Kong CBL Limited (HKCBL) signed a conditional sale and purchase of shares agreement (CSPA) on 4 May 2023. HKCBL is a subsidiary of Ningbo Contemporary Brunp Lygend Co Ltd (CBL). Antam's Corporate Secretary, Syarif Faisal Akadrie explained, the signing of the conditional share sale and purchase agreement was in order to transfer part of the share ownership in PT Feni Haltim (PT FHT) to HKCBL, for the development and operation of the industrial area as the location for the development of the electric vehicle (EV) battery ecosystem or integrated electric vehicle battery.As well as in the context of expansion and/or development of ports and other infrastructure including the construction of nickel processing facilities based on rotary kiln electric furnace technology as many as 4 production lines to realize the development of the EV battey ecosystem in East Halmahera, North Maluku. "The signing of this CSPA is a milestone for the company in its ongoing efforts to develop the EV battery. CBL as a group, as a potential strategic partner for Antam, has a portfolio to develop and manage nickel industrial estates," said Syarif Faisal in an official statement quoted on Tuesday (9/5/2023).In addition, he continued, CBL can provide certainty about fulfilling tenants in the PT FHT industrial area so that it will be able to provide a promising investment climate for Indonesia. "It is hoped that this CSPA will be able to increase the effectiveness of the EV battery development that is being carried out in Indonesia so that it can create added value in Antam's nickel ore management, both limonite and saprolite," he said.Source: https://investor.id/market/328919/demi-ekosistem-baterai-ev-antam-antm-jual-saham-anak-usaha

PT Timah Tbk (TINS) remains focused on maintaining performance this year. Previously, TINS' performance in the first quarter of 2023 was recorded to have decreased as a result of sub-optimal operational performance and fluctuations in commodity selling prices. Timah Corporate Secretary Abdullah Umar revealed that his party would not change the target for this year."The company remains focused on carrying out the plans set out in the 2023 RKAP, including optimizing land and sea mining," Abdullah told Kontan, Monday (8/5). Abdullah added, his party would also increase conservation of the remaining processing results by securing assets and opening new mines. Kontan noted, TINS is targeting to increase tin ore production to 35% this year. As an illustration, tin ore production throughout 2022 will reach around 20,000 tons.In addition, for this year TINS projects an average selling price (ASP) in the range of US$ 25,000 to US$ 30,000 per metric ton. TINS Director of Finance and Risk Management Fina Eliani revealed that fluctuations in commodity prices occurred throughout the first quarter of 2023. In fact, commodity prices tend to show a decline."The global economic recovery at the end of the first quarter of 2023 still faces a number of challenges. From the demand side, tin metal is expected to recover and continue in the second quarter of 2023 in line with strengthening fundamentals," said Fina in a press release, Tuesday (2/5). Fina continued, in the first quarter of 2023, TINS recorded tin ore production of 4,139 tons. This number decreased by 8% year on year (YoY) where in the first quarter of 2022, production reached 4,508 tons.Meanwhile, TINS metal production fell 18% YoY from 4,820 tons to 3,970 tons in the first quarter of 2023. As production declined, sales of refined tin also decreased by 26% YoY from 5,703 tons in the first quarter of 2022 to 4,246 tons in the first quarter of 2023. Meanwhile, TINS tin exports in the first quarter of 2023 reached 93% of total sales with 6 export destination countries namely South Korea with 17%, Netherlands 14%, Japan 13%, Taiwan 9%, United States 8% and Italy 7%.In addition to the decline in selling prices, the decline in cost of revenues also had an impact on the company's financial performance in the first quarter of 2023. "The decline in the average selling price of refined tin by 39% from US$ 43,667 per metric ton in the first quarter of 2022 to US$ 26,573 per metric ton in the first quarter of 2023," explained Fina.Source: https://industri.kontan.co.id/news/timah-tins-genjot-penambangan-darat-dan-laut-untuk-jaga-kinerja-tahun-ini

The government emphasized that it would revoke the tax holiday facility for new investment in the construction of a rotary kiln-electric furnace (RKEF) pyrometallurgical plant. It is planned that the revocation policy will be carried out in the near future in line with the government's commitment to stop the already intensive rate of investment in the high grade nickel ore or saprolite processing plant. "Right now there are lots of smelters in Indonesia of all kinds, so in my opinion it can no longer be categorized as a pioneer industry so there is no need to give a tax holiday, but this only applies to new ones," said the Deputy for Investment and Mining at the Coordinating Ministry for Maritime Affairs and Fisheries, Septian Hario Seto to Business, Sunday (7/5/2023).Processing with RKEF technology generally produces second class nickel processed products in the form of nickel pig iron (NPI) and ferronickel (FeNi) which are then made into stainless steel. Nevertheless, Seto stressed, this policy only applies to new investments in the next high grade nickel ore processing smelter. Thus, investments that have previously received tax holiday facilities can still enjoy the tax write-off until the later utilization deadline. "It's impossible for the government to revoke the [tax holiday], that's a parable from the point of view of investment certainty, it's important, yes, they can get it until the tax holiday period expires," he said.Source: https://ekonomi.bisnis.com/read/20230508/44/1653549/pemerintah-cabut-tax-holiday-smelter-nikel-rkef-baru

PT Merdeka Battery Materials Tbk (MBMA) announced that it has entered into a conditional agreement to acquire a 60% interest in PT Huaneng Metal Industry (HNMI), a high grade nickel matte conversion facility located within the Indonesia Morowali Industrial Park (IMIP). HNMI was built and commissioned by Eternal Tsingshan Group Limited (Tsingshan) and has been in stable production since 2022. HNMI processes low grade matte nickel (LGNM) produced by the RKEF smelter, reducing the iron content, to produce HGNM containing more than 70% nickel."Total consideration for the proposed acquisition is approximately US$ 75 million for MBMA to hold a 60% stake in HNMI, with the Tsingshan subsidiary holding the remaining 40%," explained MBMA's management in an official statement, Monday (8/5/2023). According to them, the acquisition will enable MBMA to transition RKEF's larger asset base to class 1 nickel production and unlock value. The Proposed Acquisition is targeted for completion in mid-2023, subject to completing the usual terms for such a transaction.As is known, Merdeka Battery just listed its shares on the Indonesia Stock Exchange (IDX) on April 18, 2023. Previously, MBMA had completed its initial public offering (IPO) with an exercise price of IDR 795 per share. The total shares released through the IPO were 11,549,999,900 new shares. MBMA raised funds of around IDR 9.2 trillion.Source: https://investor.id/market/328838/merdeka-battery-mbma-akuisisi-60-saham-perusahaan-ini

The absorption of PT Adaro Energy Indonesia Tbk's (ADRO) capital expenditure (capex) in the first quarter of 2023 reached US$ 132 million. This capex absorption rose 87% from capital expenditure in the first quarter of 2022 of US$ 70 million. Febriati Nadira, Adaro Energy's Head of Corporate Communication, detailed that capex spending in this period was mainly used for the construction of an aluminum smelter of US$ 15 million, ordering ships of US$ 31 million, and purchasing and overhauling heavy equipment of US$ US$ 48 million. ADRO has allocated capital expenditure (capex) of US$ 400 million to US$ 600 million for this year.Meanwhile, ADRO's subsidiary, namely PT Adaro Minerals Indonesia Tbk (ADMR) spent US$ 21.6 million for capital expenditure in the first quarter of 2023, a significant increase compared to capex absorption in the first quarter of 2022 which was only US$ 0.28 million. The capex absorption was mainly related to the infrastructure project at PT Maruwai Coal and the construction of an aluminum smelter under PT Kalimantan Aluminum Industry (KAI), a subsidiary of ADMR.ADRO's production and sales volume in the first quarter of 2023 rose 29% to 15.69 million tons and 15.72 million tons respectively. In comparison, production and sales volumes in the first quarter of 2022 were only 12.15 million tonnes and 12.20 million tonnes respectively. Thermal coal products with medium calorific value account for 70% of total sales in the period from January to March 2023. Sales of ADMR metallurgical coal also recorded a significant increase of 44% to 0.85 million tons from the previous 0.59 million tons in the first quarter of 2022.This coal mining issuer posted a net profit of US$ 458.04 million during the first quarter of 2023, up 14.5% year-on-year (YoY). As a comparison, ADRO's net profit in the same period last year was US$ 400.07 million. This made ADRO's net profit per share increase to US$ 0.01478 from the previous US$ 0.01282. The increase in ADRO's net profit was in line with the increase in revenue. The issuer chaired by Garibaldi Thohir posted net income of US$ 1.83 billion, up 50% from revenue in the same period in 2022 of US$ 1.22 billion.Source: https://industri.kontan.co.id/news/adaro-energy-adro-sudah-menyerap-capex-us-132-juta-di-kuartal-i-2023

PT Bukit Asam Tbk (PTBA), a member of the mining BUMN holding MIND ID, is diversifying its business by entering into new, renewable energy (EBT) to become an integrated and sustainable world-class energy and chemical company. "One of them is by entering the new renewable energy (EBT) business along with technological developments, EBT will be more efficient. This is an opportunity that needs to be managed carefully by paying attention to PTBA's existing resources. This step is also in line with the government's target of achieving Net Zero Emissions in 2060 or sooner," said PTBA Main Director Arsal Ismail in his statement in Palembang, Thursday.He said that on April 17, 2023, PTBA agreed on a Memorandum of Understanding (MoU) with HDF Energy, which is a company engaged in the supply of renewable energy, one of which is hydrogen fuel. HDF Energy and PTBA are exploring cooperation in the development of large-scale hydrogen fuel infrastructure. in PTBA's operational areas as an effort to reduce carbon emissions. "This infrastructure can provide stable and sustainable green energy, which is needed for PTBA's own operations or for sale to the market," said Arsal.The concrete form of PTBA's support in efforts to reduce global carbon emissions is also marked by the synergy with PT Jasa Marga (Persero) Tbk in the development of a Solar Power Plant (PLTS) with a capacity of 400 Kilowatt-peak (kWp) on the Jasa Marga Group toll road. The construction of the Bali Mandara Toll Road PLTS, which was inaugurated on September 21, 2022, is going very well, resulting in positive benefits in the form of energy efficiency and operational costs, and of course helping to support Indonesia's G20 Presidency in November 2022, one of which focuses on the issue of energy transition.Previously, PTBA had built a PLTS at Soekarno Hatta Airport in collaboration with PT Angkasa Pura II (Persero). The PLTS consists of 720 solar panel systems with photovoltaics with a maximum capacity of 241 kWp and is installed in the Airport Operation Control Center (AOCC) Building. This PLTS has been fully operational since October 1, 2020. After the success in developing PLTS on the Bali Mandara Toll Road and Soekarno Hatta Airport, on February 24 2023, PT Bukit Asam Tbk and PT Jasa Marga (Persero) Tbk signed an extension of the Memorandum of Understanding (MoU) for the Development of PLTS in other toll road areas which are under the management of the Jasa Marga Group.The extension of this MoU is a form of continuous SOE collaboration and synergy in supporting efforts to reduce global carbon emissions. In addition, PT Bukit Asam Tbk and PT Timah Tbk are exploring the potential for cooperation in the development of PLTS at Timah's operational locations as a form of synergy with MIND ID Holding Members. This collaboration was marked by the signing of the Renewable Energy Development Synergy MoU on January 26, 2023. PTBA through its subsidiary, PT Bukit Energi Investama (BEI) will build a PLTS to support PT Timah's operational activities. Electricity from the PLTS will be used for production operations (dredgers), lighting, and offices which are expected to contribute to reduced emissions and more efficient energy costs.PTBA is also exploring the potential for cooperation in the development of PLTS at the operational locations of the Semen Indonesia Group (SIG). This collaboration was marked by the signing of a Memorandum of Understanding (MoU) for the Development of New, Renewable Energy (EBT) for Solar Power Plants on October 18, 2022 which is planned to begin to meet PT Semen Padang's operational energy needs.In addition, PTBA has a number of ex-mining lands that can be utilized for PLTS development. Among them are post-mining lands in Ombilin in West Sumatra covering an area of 201 hectares (ha) and in Tanjung Enim covering an area of 224 hectares. The PLTS potential in each of these lands reaches 200 Megawatts (MW). There is also a Bantuas post-mining area of 30 ha in East Kalimantan with a potential of 30 MW. "These lands belong to the company, so there is no need for land acquisition. In this way, the investment costs for PLTS can be reduced so that the electricity produced can be competitive. The ex-mining lands are also productive. Not only beneficial for the environment, but also have economic value. ," he said.Not only PLTS, he said PTBA and China Huadian Corporation (CHD) through a Memorandum of Understanding (MoU) signed on October 18, 2022 explored the development of a Wind Power Plant (PLTB) with a capacity of around 1,300 MW in South China and other renewable energy developments in Indonesia. which is currently in the process of feasibility study. In addition to developing business in the EBT sector, PTBA is also running a PLTS development program to turn on agricultural irrigation pumpsSource: https://www.antaranews.com/berita/3520434/ptba-diverisifikasi-bisnis-perusahaan-energi-dan-kimia-kelas-dunia