Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif today, Friday (29/7), made a working visit to the Java Integrated and Industrial Port Estate (JIIPE) area in Gresik, East Java. This visit ensures the sustainability of the construction of a new copper smelter facility with a capacity of 1.7 million dry metric tons (dmt) per year owned by PT Freeport Indonesia (PTFI)."From what is measured, progress (development) is faster than targeted. It has reached 34.9% at the end of June 2022, with costs incurred more than USD1.15 billion," said Arifin accompanied by PTFI President Director Tony Wenas at the construction site smelters.Currently, there are 10,500 pile points and concrete pouring is also underway for the structural foundation. "It is targeted that by the end of 2022 it will reach 50 percent. We hope that in the second quarter of 2023 the construction will have been completed, especially the existing smelting project which is expanding," Arifin added.To support the construction of the smelter, 3,500 construction workers were recruited, consisting of 98% of Indonesian workers, 50% of whom were local workers from East Java. This is expected to maintain the acceleration of such progress as early as possible. "Development projects must remain on progress . For this reason, the need for local workers will be optimized," said Arifin.The Ministry of Energy and Mineral Resources appreciates PTFI's serious efforts to work on the smelter project. "Overall I am satisfied. The progress is quite good, very different from the first visit last time," he explained.In the construction of the smelter, there is a capacity expansion of the existing smelter by 0.3 million dmt/year by PT Smelting, as well as the processing of precious metal (precious metal refinery) which reaches 6,000 tons/year. PTFI itself has prepared an investment in capital expenditure of USD 3 billion for the smelter construction project.Kawal ImplementationArifin emphasized that the government will continue to encourage the acceleration of development, one of the efforts is the existence of regulations regarding mining, as well as regulations regarding the necessity of downstreaming. "We have mining regulations and downstream regulations, we take care of the process," said Arifin.On the same occasion, PTFI President Director Tony Wenas acknowledged that the current development progress was quite good, and exceeded the initial target of 34.3%. "For now, what we have done is that several pailings (pile foundations) have been installed, reaching 11 thousand of the total 16 thousand pailing or 65 percent, with concrete pouring reaching 20 thousand cubic meters, from the total plan of around 220 thousand cubic meters," he said.Tony said that development activities have been carried out intensively until now, with the contractor company PT Ciyoda International Indonesia (CII) which focuses on land compaction, assisted by Adhi Karya, as well as several other local contractors.For information, PT Freeport Indonesia has obtained approval for the masterlist for the smelter construction from the government. The technology applied and developed in the construction of the smelter is in the form of Double Flash Smelting & Converting which has been adopted by several countries in the world, such as China, India, European countries, and the United States.Meanwhile, the main products produced in the smelter are copper cathode, pure gold and silver bars, PGM (Platinum Group Metals), as well as sulfuric acid, slag, gypsum, lead as by-products. (NA)Source: https://www.esdm.go.id/id/media-center/arsip-berita/menteri-esdm-konstruksi-smelter-ptfi-di-gresik-capai-349

The concept of green mining or adding green is one of the breakthroughs to reduce carbon emissions and realize Net Zero Emission (NZE) in 2060. The presence of green mining has a big impact on the mining industry because it must be adaptive to the concept.MIND ID Director of Institutional Relations Dany Amrul Ichdan said this concept has been implemented in the additional area under the auspices of this mining holding. He said there were six pillars that were carried out to support carbon reduction from the mining industry."So there is economic development, smart mining to communities. We are preparing exploration activities and plans that are in accordance with ESG, by planting trees, being fit with local communities to provide added economic value," said Dany, at the CNBC Indonesia Mining Forum, Thursday (28/28/2020). 7/2022).He added that MIND ID has prepared a roadmap to apply the green mining concept , and is included in the UN Global Compact. That way, there is international confidence in this mining holding in reducing carbon emissions."If we can enter, there will be international confidence in the issuance of global bonds, as well as entry into certain ratings," he said.According to him, in returning the ex-mining land, MIND ID has prepared a utilization plan. Dany gave an example of PT Timah having returned the function of mining land to become productive land and eco-tourism ."We built a mining museum, and there is a culinary area and MSME exposure , so that the land becomes more productive. That is the use of utilizing post-mining areas into commercial areas," he said.Source: https://www.cnbcindonesia.com/market/20220728165810-17-359404/mind-id-ungkap-strateginya-terapkan-green-mining

Nickel Industries has confirmed the commencement of commissioning of a 380-megawatt power plant at its 80%-owned Angel Nickel project at the Weda Bay Industrial Park (IWIP) on Halmahera Island, North Maluku province, Indonesia.The achievement on 22 July was met ahead of schedule and comes after an early commissioning of four rotary kiln electric furnaces (RKEFs) at the site that were brought online between January and May – well ahead of its target of October of this year.Officials said Angel Nickel has been operating at approximately 80% of its nameplate capacity, restricted by power availability within the IWIP electricity grid. With the plant now coming online and giving its own power source, the company said production levels are projected to jump to approximately 130% of nameplate capacity.That milestone will be in line with the historical outperformance above nameplate capacity of its established Hengjaya and Ranger RKEF projects, it added, and the four newer RKEF lines will benefit from a 20% savings on electricity charges, which currently account for approximately 25% of total operating cash costs.“The early commissioning of the Angel RKEF lines more than six months ahead of schedule allowed us to significantly bring forward nickel production. With Angel’s power plant now commissioned, this should allow us to ramp up to approximately 130% of nameplate capacity, which will greatly increase nickel metal production and assist to materially decrease Angel operating costs,” said Managing Director Justin Werner.Source: https://www.asiaminer.com/news/latest-news/11097-power-plant-commissioning-starts-at-angel-nickel-site.html#.YuJV6nZBy5e

PT Indo Tambangraya Megah Tbk (ITMG) targets coal production to reach 18.8 million tons by 2022. ITMG Director of Corporate Communications & Investor Relations Yulius Gozali said coal production volume for this year is targeted in the range of 17.5 to 18.8 tons. million tons. Meanwhile, this target increased from the realization in 2021 which amounted to 18.2 million tons.Yulius revealed, a number of strategies are prepared by the company in order to pursue production targets for this year. These targets include production optimization to cost management. "We will maximize production by continuously improving cost management, increasing infrastructure capacity, monitoring and evaluating mining contractors, and managing mine operations effectively and efficiently," said Yulius to Kontan, Monday (25/7).Yulius added, in an effort to achieve this production target, one of the influencing factors is rainfall. According to him, currently the rainfall in each mine is quite varied. "Some interesting weather is quite conducive, and in other locations there is rainfall that is higher than expected," Yulius said. Apart from rainfall, a number of other challenges in the production process include fuel prices and contractor performance that affect production.Likewise, Yulius ensured that he would strive to continue to meet the production targets that had been set. On the other hand, the positive trend in coal prices in the first semester of 2022 is recognized as having a positive effect on ITMG's financial performance. He ensured that the company would continue to take advantage of this price momentum. Kontan noted, until the first quarter of 2022, ITMG recorded net sales of US$ 640 million, up 125% from the first quarter of 2021 worth US$ 284 million.In the first three months of 2022, ITMG obtained an average selling price or average selling price (ASP) of coal of US$ 150 per ton. This ASP is 121% higher than the same period last year. Meanwhile, ITMG's net profit increased 407%, from US$ 42 million in the first quarter of 2021 to US$ 213 million in the same period this year. Throughout the first quarter of 2022, ITMG has produced 3.8 million tons of coal. Meanwhile, the realization of sales reached 4.3 million tons. Yulius continued, the capital expenditure allocation for this year reached US$ 68.8 million.The capital expenditure allocation is planned to be used for infrastructure development at the Bharinto Ekatama (BEK) mine, replacement of heavy equipment for the company's mining business (TRUST) to investment in renewable businesses.Source: https://industri.kontan.co.id/news/incar-produksi-188-juta-ton-batubara-begini-strategi-indo-tambangraya-itmg

PT Anugerah Barokah Cakrawala (ABC) laid the first stone for the construction of a nickel smelter in the Special Economic Zone (SEZ) of Sungai Dua Village, Tanah Bumbu Regency. The smelter, which stands on an area of ​​329 hectares, belongs to the Jhonlin Group in collaboration with investors from China."This downstreaming needs to be implemented immediately considering the added value that will be provided, especially for the economy, will increase," said the Governor of South Kalimantan H. Sahbirin Noor in his statement, Monday, July 25, 2022.Sahbirin said the government supports mineral downstreaming. The downstream program is believed to be able to accelerate development in the midst of domestic industrial development. The inauguration of the smelter was marked by the press of a button by the owner of PT Jhonlin Group , Andi Syamsuddin Arsyad, accompanied by Sahbirin Noor, CNGR Advanced Material Co. Ltd. Teng Wei Ming, and Chairman Of Walsin Lihwa Coorporation Mr. Yu Lon Chiao. The construction of the smelter is in the same area as the biodiesel factory owned by PT Jhonlin Agro Raya (JAR) which was inaugurated by President Joko Widodo on October 21, 2021.Sahbirin Noor said that the Jhonlin Group synergizes with PT CNGR from China. According to him, the smelter plant will improve the economy of South Kalimantan. He also said that the construction of the ABC smelter is an implementation of Law No. 4 of 2009. This development is claimed to be a form of participation in the implementation of Ministerial Regulation No. 7 of 2012, which confirms that starting 2014, exports of raw materials are no longer allowed."This must then be addressed with the development of the processing industry which will certainly open up economic opportunities for the region," said Sahbirin. Sahbirin hopes that the industrial area in Tanah Bumbu Regency can become an integrated industrial area while still paying attention to environmental sustainability and local community participation through empowering the potential of human resources in the region. "Hopefully this development can provide great benefits for improving the welfare of the people of South Kalimantan, especially in the Tanah Bumbu district," he said.CNGR Advanced Materials Co. Ltd., Teng Wei Ming, said the groundbreaking of the smelter was an important step for the company. The company plans to realize the investment in several stages. Currently, the company will build four low grade nickel matte production lines with a production capacity of 40 thousand tons."In the future, according to market and customer needs, we plan to build high grade nickel matte, nickel sulfide, ternary precursors and battery recycling as well as build an integrated industrial layout from upstream to downstream," said Teng Wei Ming.The CEO of Jhonlin Group, Ghimoyo, said that this nickel smelter will empower local workers or residents of Tanah Bumbu Regency. According to him, the nickel smelter can absorb around 1,200 workers.He said that the raw material or nickel ore was imported from within the country and some of it was sent from abroad. Nickel ore will also be processed into batteries. "The investment is approximately IDR 6 trillion and the construction is targeted to be completed in the next 12 to 18 months," said Ghimoyo. Source: https://bisnis.tempo.co/read/1615756/investor-cina-bangun-smelter-nikel-senilai-rp-6-triliun-di-kek-tanah-bumbu

PT Wilton Makmur Indonesia Tbk (SQMI) continues to oversee its expansion agenda at its new gold processing plant located in Ciemas, West Java. Wilton Makmur has scheduled the completion of the installation and testing of the main and supporting equipment at the factory facility to be carried out in mid-September 2022, if there are no unforeseen events.This stage will then be continued with the commissioning of the main and supporting equipment at the processing facility in mid-October 2022. Then, trial production of gold dore (gold dore) will be continued in mid-November 2022, and commercial production of dore gold (gold dore) in mid-December 2022. SQMI Corporate Secretary Mohammad Noor Syahriel revealed that the progress of the physical work of the Ciomas factory had exceeded 95%, aka almost complete."What is still being done is finishing," he said when contacted by Kontan.co.id (24/7). According to SQMI's plan, the Ciemas gold plant will have a processing/input capacity of 500 tons per day when it operates commercially in December 2022. With that capacity alone, the Ciemas factory is projected to be able to produce 38,634 troy ounces (toz) of gold or the equivalent of about 1 tonne of gold per year. Kontan.co.id has not received any information about the investment value of this project.Syahriel said, SQMI will still increase the production capacity of the gold factory in Ciemas after commercial production later. It is planned that SQMI will install an additional processing/input capacity of 1,000 tons per day. So, the total input capacity of the Ciemas factory will reach 1,500 per day. "Because the spot for the upgrade itself has been prepared from the start (by design), so it will not interfere with commercial production of 500 tons per day," explained Syahriel.Source: https://industri.kontan.co.id/news/wilton-makmur-sqmi-jadwalkan-commissioning-pabrik-ciemas-di-oktober-2022

PT Atlas Resources Tbk (ARII), a coal mining company, sets the capital expenditure (capex) budget of IDR 100 billion this year. Andre Abdi, President Director of Atlas Resources, specified that approximately IDR 66.6 billion or 2/3 of the capex budget will be spent on fixing infrastructures in the coal transportation ports. “There will be an upgrade of infrastructure, including the hauling road and ports, that will last until Q3 2022,” he mentioned in the public expose treatise quoted Friday (22/7).  The upgrade of hauling road aims to increase the capacity of transporting coals from the mining area to the port. Furthermore, there are also a talk about expanding the port itself by installing more barge loading conveyors with a capacity of 4 million tons per year, bringing the total capacity to 10 million tons per year.ARII is known to manage the concession mining area of 61,010 hectares in Sumatra, Sulawesi, and Kalimantan. In 2021, the market capitalisation of ARII in the export segment reached 52%, while scoring 48% in the domestic area.Andre Abdi, President Director of Atlas Resources, specified that approximately IDR 66.6 billion or 2/3 of the capex budget will be spent on fixing infrastructures in the coal transportation ports. “There will be an upgrade of infrastructure, including the hauling road and ports, that will last until Q3 2022,” he mentioned in the public expose treatise quoted Friday (22/7).The upgrade of hauling road aims to increase the capacity of transporting coals from the mining area to the port. Furthermore, there are also a talk about expanding the port itself by installing more barge loading conveyors with a capacity of 4 million tons per year, bringing the total capacity to 10 million tons per year. ARII is known to manage the concession mining area of 61,010 hectares in Sumatra, Sulawesi, and Kalimantan. In 2021, the market capitalisation of ARII in the export segment reached 52%, while scoring 48% in the domestic area.Source: https://www.idnfinancials.com/news/43766/atlas-resources-allocate-idr-capital-expenditures

Nickel miner Vale Indonesia, China's Zhejiang Huayou Cobalt and U.S. car maker Ford Motor signed a non-binding memorandum of cooperation to build a plant in Indonesia to extract nickel chemicals, Vale said in a statement on Thursday.The companies plan to create a partnership to build a plant to produce 120,000 tonnes per annum of mixed hydroxide precipitate, material extracted from nickel ore that would be used in batteries for electric vehicles.Vale said the new partnership with Ford will be built on its framework agreement with Huayou, signed in April. Under the April agreement, Huayou will develop the project in Southeast Sulawesi and Vale will have rights to acquire up to a 30% stake in the project."This three-way relationship is a creative way to secure the nickel Ford needs to help deliver millions of EVs for our customers and it keeps our environmental, social and governance goals front and center in the process," Lisa Drake, Ford's vice president of EV industrialization, said in the statement."Not only will this partnership with Ford and PT Vale bring to our customers stable and sustainable supply, but also will benefit the increasingly robust EV industry and Indonesian economy," Huayou's Executive Vice Chairman, George Q. Fang, said in the statement.The project is expected to be completed in 2025.Indonesia is keen to utilise its rich nickel reserves to attract investment into metal processing, production of EV batteries material and building EV onshore.The government from 2020 banned export of unprocessed nickel ore to ensure supply for existing and potential investors.Source: https://www.reuters.com/markets/commodities/vale-indonesia-chinas-huayou-sign-agreement-with-ford-nickel-plant-2022-07-21/

PT VKTR Mobilitas Technology (VKTR), a subsidiary of PT Bakrie & Brothers Tbk (BNBR) which is engaged in the battery and transportation electrification acceleration, has agreed to cooperate with PT Tambang Nickel Sulteng (TNS) in an effort to supply ore supply. nickel. This cooperation agreement is stated in a Memorandum of Understanding (MoU) signed by VKTR President Director Gilarsi W Setijono and TNS President Director Ronny Tanusaputra, in Palu, Central Sulawesi, Tuesday (19/7/2022).Gilarsi said, in accordance with the MoU, TNS will provide VKTR with nickel ore obtained from an environmentally friendly mining process. The nickel ore is planned to be processed by a joint venture company between VKTR and other parties. Meanwhile, TNS will also be given the opportunity to own shares in the joint venture ."Currently, VKTR continues to strive to take a role in the development of the electric vehicle ecosystem in the country, considering that Indonesia has nickel ore reserves of 25% of all world reserves," said Gilarsi in a written statement, Wednesday (20/7/2022). The downstream nickel industry, continued Gilarsi, could later make Indonesia a major player in the field of lithium battery production. This downstreaming will certainly increase the added value of the economy significantly, explained Gilarsi.According to Gilarsi, in 2022, the government targets the production of refined nickel to reach 2.58 million tons. This target will be supported by production of Ferronickel of 1.66 million tons, Nickel Pig Iron of 831,000 tons, and Nickel Matte of 82,900 tons. "We hope that, in the next five years, domestic nickel production can continue to increase sustainably given the abundance of nickel reserves in Indonesia," he said.Gilarsi added that the age of Indonesia's nickel ore reserves could reach 73 years for low grade nickel ore below 1.5% or limonite nickel ore. The assumption of the age of the reserves comes from the total reserves of nickel limonite ore reaching 1.7 billion tons and the need for domestic processing capacity of 24 million tons per year. Meanwhile, for high grade nickel ore above 1.5% or saprolite nickel, the age of the reserves is said to be only sufficient for the next 27 years. This calculation is based on the assumption that the amount of saprolite ore is 2.6 billion tons and the capacity for domestic smelters is 95.5 million tons per year."With sufficient nickel reserves in the country, as well as pro- sustainable policy support for the industry , we are all optimistic that Indonesia will be able to become a dominant global player in the future," said Gilarsi.Lots of CooperationEarlier this year, together with PT Transport Jakarta (Transjakarta) and PT Mayasari Bakti, a total of 30 units of VKTR-BYD electric buses were launched as part of the Transjakarta fleet and have been going back and forth on the streets serving transportation for residents of the capital city. In the future, the company will expand the range of VKTR products to areas other than DKI Jakarta.Currently, VKTR is promoting cooperation with various parties, as one of the company's strategies to localize technology and develop a transportation electrification ecosystem for its manufactured products.In addition to BYD Auto, VKTR has signed a partnership with British environmentally friendly battery manufacturer British Volt, bodybuilding company Tri Sakti, British heavy mobility technology company Equipmake, Surabaya State Electronics Polytechnic (PENS), Sebelas Maret University (UNS) Surakarta, PT Jasa Facilities, and a number of other parties."All these collaborations are carried out to build a complete transportation electrification ecosystem in Indonesia, from upstream to downstream," said Gilarsi.Source: https://investor.id/market-and-corporate/300295/grup-bakrie-kerja-sama-penyediaan-pasokan-bijih-nikel

Baru Gold Corp. (TSXV:BARU) | (OTC:BARUF) (“BARU” or the “Company”) is pleased to announce it has entered into a convertible loan agreement with Mercer Street Global Opportunity Fund, LLC, a fund managed by Mercer Street Capital Partners, LLC, a Miami-based institutional fund manager (together, “Mercer”), to raise net proceeds of US$1,500,000 ($1.94 Million Canadian) to fund the development and construction of the Sangihe gold mine in Indonesia, and for general working capital.Terry Filbert, Chairman and CEO of Baru Gold, commented, “The Company’s ability to raise these funds in this challenging market is a testament to the merits of the Sangihe project. We are pleased to be able to carry on with construction and production plans; and we look forward to the commencement of our previously announced drilling program where we intend to extend and increase the resource base at the Binebase and Bawone target areas. The additional capital will allow us to work towards the ultimate goal of sustained cashflow for the Company.”The convertible loan will raise net proceeds of US$1,500,000 (the “Convertible Loan”) from the aggregate principal amount of US$2,000,000 subject to an original discount of approximately 25%. The terms of the convertible loan agreement are as follows: (i) the outstanding principal obligations and interest shall be calculated monthly, and shall be repaid to the Subscriber in eighteen (18) equal monthly installments, in advance, commencing 180 days following the closing date, until the obligations are fully repaid; (ii) the Company shall pay interest on any overdue amount (including interest on interest) at and interest rate of 18% per annum until the overdue amounts are paid in full; (iii) in the event that the principal amount of US$1,500,000 has been fully paid within one (1) year from the closing date, a discount of approximately 10% of the principal amount and interest shall apply to the total repayment amount where the aggregate amount due shall be reduced to US$1,800,000. The Debentures have a maturity date of the 2nd anniversary of the closing date and bear an interest rate of 16.67% prepaid from loan proceeds on the closing date.Commencing on the four (4) month anniversary of the closing date: (i) the principal of the Convertible Loan shall be convertible into common shares of the Company at the conversion price of CDN$0.05/US$0.0384 per common share and (ii) subject to prior TSX Venture Exchange approval, interest shall be convertible at a conversion price based on the previous trading day close prior to the announcement of the interest conversion..A total of 15,000,000 transferable warrants of the Company shall also be issued to the lender that may be exercised over a two (2) year term having a warrant exercise price of CDN$0.0675/US$0.05.The Convertible Loan is secured against the Company’s equity interest in its wholly owned subsidiary, Sangihe Gold Corporation, that holds through a wholly owned Indonesian subsidiary, the Company’s interests in the Sangihe Gold Project. The use of proceeds from the Offering shall be used for the development of the Sangihe Gold Project and general working capital purposes. There are no finder’s fees payable.Source: https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2203-tsx-venture/baru/124971-baru-gold-announces-us-1-5-million-convertible-loan-financing-for-sangihe-gold-mine-production.html