TABLE OF CONTENTS...kini masih dalam tahap studi kelayakan dan ditargetkan sudah ada kesimpulan investasinya pada akhir 2021. Proyek pertama adalah fasilitas pemrosesan RKEF di …

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Vale Indonesia Expansion Continues Ekspansi Vale Indonesia Berlanjut Coal Will Sunset in 20 Years? This Said the PTBA Boss Batu Bara Bakal Sunset 20 Tahun Lagi? Ini Kata Bos PTBA Seeing the operational performance of United Tractors (UNTR) as of October 2020 Simak kinerja operasional United Tractors (UNTR) per Oktober 2020 Timah (TINS) Reduces Debt Burden and Boosts Efficiency Timah (TINS) Tekan Beban Utang dan Genjot Efisiensi Luhut Reveals Freeport and Chinese Companies to Work Together to Build a Smelter Luhut Ungkap Freeport dan Perusahaan China Kerja Sama bikin Smelter Observer: Job Creation Law Overcomes Many Problems in the Mining Sector Pengamat: UU Cipta Kerja Atasi Banyak Masalah di Sektor Pertambangan Geologist: Coal energy is still the most rational choice Ahli Geologi: Energi batubara masih jadi pilihan paling rasional Economy Recovers, China Will Buy Indonesia Coal Rp 20.6 T in 2021 Ekonomi Pulih, China Akan Beli Batu Bara RI Rp 20,6 T di 2021 Luhut Reveals the Causes of Indonesia Difficult to Get Away from Coal Luhut Ungkap Sebab RI Sulit Lepaskan Diri dari Batu Bara Joe Biden Becomes US President, Copper Prices Print the Highest Record in 6 Years Joe Biden Jadi Presiden AS, Harga Tembaga Cetak Rekor Tertinggi dalam 6 Tahun

Investor Daily CNBC Indonesia Kontan Bisnis DetikFinance Investor Daily Kontan CNBC Indonesia CNN Indonesia Bisnis

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When coal approaching US$ 70, no wonder the shares are orgies Detik-detik Batu Bara ke US$ 70, Pantas Sahamnya Pesta Pora Nickel Mines acquires 70% of Angel nickel project China to Buys Thermal Coal US$1.5B from Indonesia in 2021 Lynas nears construction of Kalgoorlie processing facility China claims 'quality' problem with Australian coal as $700 million worth sits idle off ports Fund warns Turquoise Hill over troubled Oyu Tolgoi ICMM provides update on initiative for cleaner, safer mining vehicles

CNBC Indonesia Global Mining The Insider Stories Mining Weekly ABC News Mining.com Global Mining Review

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Vale Indonesia Expansion Continues

Parluhutan Situmorang

PT VALE Indonesia Tbk (INCO) is

aggressively increasing its production capacity and it is hoped that it will support the growth of the company's financial performance in the long term. Meanwhile, the increasing trend of nickel demand as raw material for electric car batteries will boost the selling price of this commodity in the long run.

BRI Danareksa Sekuritas analyst Stefanus Darmagiri revealed that Vale Indonesia is continuing to expand its production capacity to support future financial performance growth.

Meanwhile, in the nickel m arket, the company indicated that demand for first-class nickel as raw material for batteries will remain solid going forward. Likewise, the demand for second-class nickel as raw material for the manufacture of stainless steel is estimated to have a surplus this year.

"To boost Vale Indonesia's nickel production in line with increasing market demand, the company plans to increase nickel production capacity to 90 thousand tons from the current estimate of around 75-80 thousand tons. "Capacity building will be carried out by developing a new nickel processing facility in Sorowako, South Sulawesi," wrote Stefanus in his research.

Currently, he said, Vale Indonesia's management is conducting a visibility study for the addition of one rotary kiln electric furnace (RKEF) production line to produce ferronickel with a production capacity of up to 10 thousand tons.

Ekspansi Vale Indonesia Berlanjut

Parluhutan Situmorang

PT VALE Indonesia Tbk (INCO) sedang

gencar meningkatkan kapasitas produksi dan diharapkan menjadi penopang per-tumbuhan kinerja keuangan perseroan dalam jangka panjang. Sedangkan tren peningkatan permintaan nikel untuk bahan baku baterai mobil listrik bakal menjadi faktor pendongkrak harga jual komoditas tersebut dalam jangka panjang.

Analis BRI Danareksa Sekuritas Stefanus Darmagiri mengungkapkan, Vale Indonesia sedang melanjutkan ekspansi kapasitas produksi untuk menopang pertumbuhan kinerja keuangan ke depan.

Sedangkan di pasar nikel, perseroan meng-indikasikan bahwa permintaan nikel kelas satu untuk bahan baku baterai tetap solid ke depan. Begitu juga permintaan nikel kelas dua untuk bahan baku pembuatan baja nirkarat diperkirakan surplus tahun ini.

“Untuk mendongkrak produksi nikel Vale Indonesia sejalan dengan peningkatan permintaan pasar, perseroan meren-canakan peningkatan kapasitas produksi nikel menjadi 90 ribu ton dari perkiraan saat ini sekitar 75-80 ribu ton. Peningkatan kapasitas akan dilakukan dengan pengem-bangan fasilitas pemrosesan nikel baru di Sorowako, Sulawesi Selatan,” tulis Stefanus dalam risetnya.

Saat ini, dia menyebutkan, manajemen Vale Indonesia sedang melakukan studi visibilitas untuk penambahan satu jalur produksi rotary kiln electric furnace (RKEF) untuk memproduksi feronikel dengan kapasitas produksi mencapai 10 ribu ton.


The company targets the increase in production capacity to materialize before the work contract ends in 2025.

Vale Indonesia is also planning two long-term projects which are still in the feasibility study stage and it is targeted that the investment will conclude by the end of 2021. The first project is the RKEF processing facility in Bahodopi, Central Sulawesi, which collaborates with a Chinese company to build nickel pig iron (NPI).

Meanwhile, the second project which is currently entering the study, said Stefanus, is the HPAL (high pressure acid leach) smelter processing facility in Pomalaa, Southeast Sulawesi. The company is partnering with Sumitomo Metal Mining to work on the new smelter, which is estimated to cost around US$ 2.5 billion. The smelter is targeted to have a production capacity of 40 thousand tons per year. This project can be continued with an average nickel purchase price of US$ 16-18 thousand per ton.

If this investment continues, it will take 4-5 years for the construction of the facility. Regarding the nickel market, according to Stefanus, it is estimated that a surplus for this year is assumed by the assumption that several nickel producers are operating normally, particularly second-class nickel production for stainless steel. This is different for the first-class nickel market, which is predicted to remain solid in the long run.

"We estimate that the demand for first-class nickel for electric car batteries will remain solid," he said.

These various factors prompted BRI Danareksa Sekuritas to maintain its recommendation to buy INCO shares with a target price of Rp 5,200. The target price reflects...

Perseroan menargetkan peningkatan kapa-sitas produksi terwujud sebelum kontrak kerja berakhir tahun 2025.

Vale Indonesia juga sedang merencanakan dua proyek jangka panjang yang hingga kini masih dalam tahap studi kelayakan dan ditargetkan sudah ada kesimpulan investasinya pada akhir 2021. Proyek pertama adalah fasilitas pemrosesan RKEF di Bahodopi, Sulawesi Tengah, yang bekerjasama dengan perusahaan asal Tiongkok untuk membangun nickel pig iron (NPI).

Sedangkan proyek kedua yang sedang memasuki studi, ungkap Stefanus, adalah fasilitas pemrosesan smelter HPAL (high pressure acid leach) di Pomalaa, Sulawesi Tenggara. Perseroan bermitra dengan Sumitomo Metal Mining untuk menggarap smelter baru tersebut yang diperkirakan menelan investasi sekitar US$ 2,5 miliar. Smelter tersebut ditargetkan kapasitas produksi 40 ribu ton per tahun. Proyek ini bisa dilanjutkan dengan rata-rata harga pembelian nikel sebesar US$ 16-18 ribu per ton.

Jika investasi ini berjalan lanjar dibutuh-kan waktu 4-5 tahun untuk pembangunan fasilitas. Terkait pasar nikel, menurut Stefanus, diperkirakan surplus tahun ini dengan asumsi beberapa produsen nikel beroperasi secara normal, khususnya produksi nikel kelas dua untuk baja nirkarat. Hal berbeda untuk pasar nikel kelas satu yang diprediksi tetap solid dalam jangka panjang.

“Kami memperkirakan permintaan nikel kelas satu untuk kebutuhan baterai mobil listrik akan tetap solid,” sebut dia.

Berbagai faktor tersebut mendorong BRI Danareksa Sekuritas untuk memper-tahankan rekomendasi beli saham INCO dengan target harga Rp 5.200. Target harga tersebut menggambarkan...


The target price reflects solid nickel price expectations going forward and an upward trend in financial performance supported by project developments in Pomalaa and Bahodopi. This target implies that the PE forecast in 2021 is around 30.8 times.

The target price also reflects the estimated increase in Vale Indonesia's net profit to US$ 92 million this year and is expected to increase to US$ 115 million in 2021, compared to last year's US$ 57 million realization.

Revenue is also expected to grow to US$ 797 million and to US$ 899 million in 2021, compared to last year's US$ 782 million.

Previously, Trimegah Sekuritas analysts Hasbie and Willinoy Sitorus revealed that the growth of the electric car industry plus the decline in global nickel supply will be the main factors in boosting Vale Indonesia's net profit this year.

These two factors will increase the selling price of these commodities, which will increase the company's profit margin.

Since the export ban on nickel ore was implemented by the Indonesian govern-ment, the selling price of this commodity has gradually improved since March 2020. In fact, the increase was also supported by the acceleration of China's economic recovery and the low supply of global nickel from Indonesia. The ban on nickel exports has resulted in a decline in the supply of nickel ore in China by up to 70% which is imported from Indonesia.

Meanwhile, China's stainless steel production increased by around 8.5% in the first half of 2020, as China's economy began to rebound.

In addition to the export ban on nickel ore and a surge in demand from China, the increase in demand for nickel ore...

Target harga tersebut menggambarkan ekspektasi harga nikel yang solid ke depan dan tren peningkatan kinerja keuangan yang didukung oleh pengembangan proyek di Pomalaa dan Bahodopi. Target tersebut mengimplikasikan perkiraan PE tahun 2021 sekitar 30,8 kali.

Target harga tersebut juga mencerminkan perkiraan peningkatan laba bersih Vale Indonesia menjadi US$ 92 juta tahun ini dan diharapkan melonjak menjadi US$ 115 juta pada 2021, dibandingkan realisasi tahun lalu US$ 57 juta.

Pendapatan juga diharapkan tumbuh menjadi US$ 797 juta dan menjadi US$ 899 juta pada 2021, dibandingkan perolehan tahun lalu US$ 782 juta.

Sebelumnya, analis Trimegah Sekuritas Hasbie

dan Willinoy Sitorus mengungkapkan, per-

tumbuhan industri mobil listrik ditambah penurunan pasokan nikel global akan menjadi

faktor utama pendongkrak keuntungan bersih

Vale Indonesia sepanjang tahun ini.

Kedua faktor tersebut akan menaikkan harga

jual komoditas tersebut yang berdampak pada

peningkatan margin keuntungan perseroan.

Sejak pelarangan ekspor bijih nikel diterap-kan oleh Pemerintah Indonesia, harga jual komoditas ini berangsurangsur membaik terhitung sejak Maret 2020. Bahkan, kenaikan juga didukung oleh percepatan pemulihan ekonomi Tiongkok dan rendah-nya pasokan nikel global dari Indonesia. Pelarangan ekspor nikel berimbas terhadap turunnya suplai bijih nikel di Tiongkok hingga 70% yang diimpor dari Indonesia.

Sedangkan produksi baja nirkarat Tiongkok meningkat sekitar 8,5% pada semester I-2020, seiring dengan ekonomi Tiongkok yang mulai rebound.

Selain faktor pelarangan ekspor bijih nikel dan lonjakan permintaan dari Tiongkok, peningkatan permintaan bijih nikel...


the increase in demand for nickel ore will be supported by a surge in the electric

vehicle industry with a target market share of 10% in 2025 compared to 2019's

realization of 2.5%. The electric car market share is predicted to grow by 28% in 2030

and reach 58% in 2040.

The electric car market share target is equivalent to the average annual growth of

sales of electric vehicles reaching 26.2% from 2019 to 2025.

Meanwhile, based on 2019 data, 7% of

world nickel consumption is used for electric car batteries. If it is assumed that

sales of electric vehicles will reach 8.5 million per year by 2025, it will take 164

thousand tons of nickel per year to support these electric vehicles. This figure is

equivalent to 6.9% of total global nickel consumption in 2019.

"The increase in sales of electric cars must also be supported by strengthening infra-

structure and selling prices in accordance with market demand. Currently, the

battery price reaches US$ 160 per kwh and is expected to fall below US$ 100 per kwh

by 2024, ”wrote Hasbie and Willinoy in their research.

Trimegah Sekuritas projects that Vale

Indonesia's net profit will increase to US$ 93 million this year, compared to last

year's realization of US$ 57 million.

The increase in net income will be supported by an increase in the company's

net profit margin (net margin) from 7.3% to 12.3%. Meanwhile, the company's

revenue is estimated to fall from US$ 782 million to US$ 758 million throughout

2020. Editor: Gora Kunjana

peningkatan permintaan bijih nikel bakal didukung oleh lonjakan industri kendaraan listrik dengan target pangsa pasar men-capai 10% pada 2025 dibandingkan reali-sasi tahun 2019 sebesar 2,5%. Pangsa pasar mobil listrik diprediksi kembali bertumbuh sebesar 28% pada 2030 dan mencapai 58% pada 2040.

Target pangsa pasar mobil listrik tersebut setara dengan rata-rata pertumbuhan tahunan penjualan kendaraan listrik mencapai 26,2% dari tahun 2019 hingga 2025.

Sedangkan berdasarkan data tahun 2019, sebesar 7% dari konsumsi nikel dunia terpakai untuk baterai mobil listrik. Jika diasumsikan penjualan kendaraan listrik mencapai 8,5 juta per tahun pada 2025, maka dibutuhkan sebanyak 164 ribu ton nikel per tahun untuk mendukung kendaraan listrik tersebut. Angka tersebut setara dengan 6,9% dari total konsumsi nikel global tahun 2019.

“Peningkatan penjualan mobil listrik tentu juga harus didukung oleh penguatan infrastruktur dan harga jual yang sesuai dengan permintaan pasar. Saat ini, harga baterai mencapai US$ 160 per kwh dan diharapkan turun di bawah US$ 100 per kwh pada 2024,” tulis Hasbie dan Willinoy dalam risetnya.

Trimegah Sekuritas memproyeksikan kenaikan laba bersih Vale Indonesia men-jadi US$ 93 juta tahun ini dibandingkan realisasi tahun lalu mencapai US$ 57 juta.

Lonjakan laba bersih akan didukung oleh peningkatan margin keuntungan bersih (net margin) perseroan dari 7,3% menjadi 12,3%. Sedangkan pendapatan perseroan diperkirakan turun dari US$ 782 juta menjadi US$ 758 juta sepanjang 2020. Editor : Gora Kunjana


Coal Will Sunset in 20 Years?

This Said the PTBA Boss Anisatul Umah, CNBC Indonesia

THE INDUSTRIAL sunset will happen to

the coal industry if it doesn't do something. Fossil-based energy such as coal has started to be abandoned. Many countries are starting to switch to new and renewable energy (EBT).

President Director of PT Bukit Asam Tbk (PTBA) Arviyan Arifin said that the steps that can be taken by coal companies in facing this coal 'sunset' era is to carry out downstreaming. He said that coal as primary energy has not been maximally utilized, namely only being transported, sold and burned.

Utilization of coal as has happened so far in the next 20-30 years is likely to continue. However, after that, without any transfor-mation, according to him, this industry will arrive at the 'sunset' period.

"20-30 years is still good, but after that I think it will 'sunset', lagging behind. We must carry out a business transformation that we have planned, PTBA beyond coal, turning coal into gas with the downstream concept," he explained in an interview with CNBC Indonesia, Wednesday (11/25/2020).

This gasification project, he added, converts coal into dimethyl ether (DME) products which can be used as a substitute for liquefied petroleum gas (LPG), where so far the majority of LPG needs are still being met by import.

According to him, DME technology is already running well in China. "This can answer the challenge of coal 'sunset'," he said.

Batu Bara Bakal Sunset 20

Tahun Lagi? Ini Kata Bos PTBA Anisatul Umah, CNBC Indonesia

SUNSET industri bakal terjadi pada industri

batu bara jika tidak melakukan sesuatu. Energi berbasis fosil seperti batu bara sudah mulai ditinggalkan. Banyak negara mulai beralih ke energi baru terbarukan (EBT).

Direktur Utama PT Bukit Asam Tbk (PTBA) Arviyan Arifin mengatakan, langkah yang bisa diambil oleh perusahaan batu bara dalam menghadapi era 'sunset' batu bara ini adalah dengan melalukan hilirisasi. Dia mengatakan batu bara sebagai energi primer selama ini pemanfaatannya belum maksimal yakni hanya diangkut, dijual, dan dibakar.

Pemanfaatan batu bara seperti yang terjadi selama ini dalam 20-30 tahun ke depan kemungkinan masih akan bertahan. Namun setelah itu, tanpa adanya transformasi, maka menurutnya industri ini akan akan sampai pada masa tenggelam atau 'sunset'.

"20-30 tahun masih baik, tapi setelah itu saya rasa akan 'sunset', ketinggalan. Kita harus melakukan transformasi bisnis yang sudah kita canangkan, PTBA beyond coal, meng-ubah batu bara menjadi gas dengan konsep hilirisasi," paparnya dalam wawancara bersama CNBC Indonesia, Rabu (25/11/ 2020).

Proyek gasifikasi ini, imbuhnya, mengubah batu bara menjadi produk dimethyl ether (DME) yang bisa menjadi substitusi liquefied petroleum gas (LPG), di mana selama ini mayoritas kebutuhan LPG masih dipenuhi dengan cara impor.

Teknologi DME ini menurutnya sudah ber-jalan baik di China. "Ini bisa menjawab tantangan 'sunset' batu bara," ungkapnya.


In working on this gasification project, his party has carried out a feasibility study involving various parties. Starting from consultants, practitioners, and industrialists.

"We need an investment of almost US$ 2 billion, or Rp 30 trillion which will be built by investors. PTBA will supply coal, Pertamina will distribute the DME," he explained.

According to him, DME as a substitute for LPG, technically and economically, will provide better value for the government and society. Subsidies can be reduced and people get a better price.

In fact, by producing 1.4 million tons of DME per year, it can reduce LPG imports by the equivalent of 1 million tons per year. This means, there are foreign exchange savings of around Rp. 8.7 trillion per year.

"Apart from that, we can take advantage of the low calories that have been impossible to sell, the market cannot absorb, where so far they have no value, then we turn them into DME," he explained.

He further said that the DME project is projected to start operating in the second quarter of 2024, so that at least LPG imports from that year onwards can be suppressed. "If it is successful, we will continue to other downstream activities," he explained. (sef/sef)

Dalam mengerjakan proyek gasifikasi ini pihak-nya sudah melakukan studi kelayakan dengan melibatkan berbagai pihak. Mulai dari para konsultan, para praktisi, dan para industrialis.

"Kita perlukan investasi hampis US$ 2 milliar ya, atau Rp 30 triliun yang nanti akan dibangun oleh investor. PTBA akan suplai batubara, nanti DME-nya disalurkan Pertamina," paparnya.

DME sebagai pengganti LPG menurutnya, secara teknis dan ekonomis akan memberikan nilai yg lebih baik bagi pemerintah dan masya-rakat. Subsidi bisa berkurang dan masyarakat mendapatkan harga yang lebih baik.

Bahkan, dengan memproduksi 1,4 juta ton DME per tahun mampu mengurangi impor LPG setara 1 juta ton per tahun. Ini artinya, ada penghematan devisa sekitar Rp 8,7 triliun per tahun.

"Selain itu, kita bisa manfaatkan kalori rendah yang selama ini tidak mungkin dijual, tidak bisa diserap market, di mana yang selama ini tidak ada nilainya, maka kita olah menjadi DME," jelasnya.

Lebih lanjut dia mengatakan proyek DME ini diproyeksikan akan mulai operasi pada triwulan II 2024, sehingga paling tidak impor LPG mulai tahun itu hingga ke depannya bisa ditekan. "Kalau sudah berhasil, kita akan lanjut ke hilirisasi lainnya," paparnya. (sef/sef)

Seeing the operational performance of United Tractors

(UNTR) as of October 2020 Reporter: Akhmad Suryahadi | Editor:

Herlina Kartika Dewi

PT UNITED Tractors Tbk (UNTR) has

reported its operational performance for the period of October 2020. As a result,...

Simak kinerja operasional United Tractors (UNTR) per

Oktober 2020 Reporter: Akhmad Suryahadi | Editor:

Herlina Kartika Dewi

PT UNITED Tractors Tbk (UNTR) telah

melaporkan kinerja operasional periode Oktober 2020. Hasilnya,...

https://pusatdata.kontan.co.id/quote/UNTR


As a result, a number of business lines have shown improved performance, some have decreased, some tend to be stagnant.

In the mining contractor business through its subsidiary, PT Pamapersada Nusantara (Pama), UNTR recorded a coal production volume of 94.8 million tons during the first 10 months of 2020. This realization decreased by 12.7% from the production volume produced in the same period. the previous year which was 108.6 million tons.

A decrease also occurred in the volume of overburden (OB) removal. As of October 2020, Pama's OB volume was recorded at 698.7 million bank cubic meters (bcm) or decreased by 16.47% on an annual basis.

In the coal sales segment run by Tuah Turangga Agung (TTA), sales volume has increased.

As of October 2020, UNTR sold 508,000 tons of coal, consisting of 367,000 tons of thermal coal and 141,000 tons of coking coal. On a monthly basis, this realization was up 21.5% from the previous 418,000 tonnes in the September period.

In a 10-month accumulative manner, UNTR's coal sales volume increased by 9.25% on an annual basis, from 7.0 million to 7.65 million.

Meanwhile, per Okotber 2020 UNTR recorded a sales volume of 154 units of Komatsu heavy equipment. This sales edged up 3.89% from the sales realization as of September 2020, which was 148 units.

If accumulated, the total sales of Komatsu heavy equipment by the end of October 2020 stood at 1,345 units. This realization was still contracted by 50.8% from sales in the same period the previous year which reached 2,734 units.

Hasilnya, sejumlah lini bisnis menujukkan perbaikan kinerja, ada yang menurun, ada pula yang cenderung stagnan.

Di bisnis kontraktor tambang lewat anak usahanya, yakni PT Pamapersada Nusantara (Pama), UNTR mencatat volume produksi batubara sebesar 94,8 juta ton selama periode 10 bulan pertama 2020. Realisasi ini menurun 12,7% dari volume produksi yang dihasilkan pada periode yang sama tahun sebelumnya yakni 108,6 juta ton.

Penurunan juga terjadi pada volume pengupasan lapisan atau overburden (OB) removal. Tercatat, hingga Oktober 2020, volume OB yang dihasilkan Pama sebesar 698,7 juta bank cubic meter (bcm) atau menurun 16,47% secara tahunan.

Di segmen penjualan batubara yang di-jalankan oleh Tuah Turangga Agung (TTA), volume penjualan mengalami kenaikan.

Per Oktober 2020, UNTR menjual 508.000 ton batubara, yang terdiri atas batubara thermal sebanyak 367.000 ton dan batu-bara kokas (coking coal) sebanyak 141.000 ton. Secara bulanan, realisasi ini naik 21,5% dari sebelumnya sebesar 418.000 ton di periode September.

Secara akumulatif 10 bulan, volume penjualan batubara UNTR naik 9,25% secara tahunan, dari 7,0 juta menjadi 7,65 juta.

Sementara itu, per Okotber 2020 UNTR mencatatkan volume penjualan alat berat Komatsu sebanyak 154 unit. Penjualan ini naik tipis 3,89% dari realisasi penjualan per September 2020 yakni 148 unit.

Jika diakumulasikan, total penjualan alat berat Komatsu hingga akhir Oktober 2020 berada di angka 1.345 unit. Realisasi ini memang masih terkontraksi 50,8% dari penjualan di periode yang sama tahun sebelumnya yang mencapai 2.734 unit.


However, the upward trend in heavy equipment sales has started since June 2020, aka since the last five months. Sales in 10 months have almost met the target set by UNTR by the end of the year, which is 1,400 units.

On the other hand, the stable performance was shown by gold sales through its subsidiary, PT Agincourt Resources. In October 2020, gold sales from the Martabe gold mine were 22,000 ounces, stagnant from the realization per September 2020 which was also 22,000 ounces. This position also did not move from sales per August 2020 which was also 22,000 ounces.

Sara K. Loebis, Corporate Secretary of United Tractors, said that the stable sales of UNTR's gold were due to the fact that operations in the field were gradually normalizing. If accumulated, gold sales in the first 10 months were 277,600 ounces or 19.76% corrected from the realization of the same period the previous year which reached 346,000 ounces.

Overall, Sara said that the operational performance of Pama, TTA and Martabe was still inline with the targets set by the Company.

As an illustration, this year the business entity PT Astra International Tbk (ASII) targets to be able to sell 7.9 million to 8 million tons of coal, including 1.4 million coking coal in it.

Meanwhile, for gold commodity, UNTR has set a total sales target in the range of 255,000 ounces - 300,000 ounces.

However, Sara is still unable to reveal the projections of UNTR's performance for next year. "For next year's operational projects, it is not final," she explained to Kontan.co.id, Wednesday (25/11).

Namun, tren kenaikan penjualan alat berat sudah dimulai sejak Juni 2020 alias sejak lima bulan terakhir. Penjualan dalam 10 bulan pun sudah hampir memenuhi target yang dipasang UNTR hingga ujung tahun, yakni 1.400 unit.

Di sisi lain, kinerja stabil ditunjukkan oleh penjualan emas lewat anak usahanya yakni PT Agincourt Resources. Pada Oktober 2020, penjualan emas dari tambang emas Martabe sebesar 22.000 ons, stagnan dari realisasi per September 2020 yang juga sebanyak 22.000 ons. Posisi ini juga tidak beranjak dari penjualan per Agustus 2020 yang juga sebesar 22.000 ons.

Sara K. Loebis, Sekretaris Perusahaan United Tractors menyebut, stabilnya penjualan emas UNTR disebabkan oleh operasional di lapangan sudah berangsur normal. Jika diakumulasikan, penjualan emas dalam periode 10 bulan pertama sebesar 277.600 ons atau masih terkoreksi 19,76% dari realisasi periode yang sama tahun sebelumnya yang mencapai 346.000 ons.

Secara keseluruhan, Sara menyebut kinerja operasional Pama, TTA, dan Martabe masih inline dengan target yang dipasang Perseroan.

Sebagai gambaran, tahun ini entitas usaha PT Astra International Tbk (ASII) tersebut menargetkan mampu menjual 7,9 juta sampai 8 juta ton batubara, termasuk 1,4 juta batubara kokas di dalamnya.

Sementara untuk komoditas emas, UNTR memasang total target penjualan di kisaran 255.000 ons – 300.000 ons.

Namun, Sara masih belum bisa mem-beberkan ihwal proyeksi kinerja UNTR untuk tahun depan. “Untuk proyek operasional tahun depan belum final,” terang dia kepada Kontan.co.id, Rabu (25/11).


Timah (TINS) Reduces Debt Burden and Boosts Efficiency

M. Nurhadi Pratomo

PT TIMAH Tbk. carry out a series of

strategies to improve the company's funda-mental performance. The tin producer is confident that the performance in the fourth quarter of 2020 will be better.

Timah Corporate Secretary Muhammad Zulkarnaen Dharmawi revealed that the company has done three things for funda-mental improvements. First, improve cash flow by keeping cash flow positive.

Second, reducing debt burdens so that debt costs will be smaller. Third, efficiency in all lines of operation to increase operating profit margin.

"Of the three things, it can be seen that financial performance has improved from the first quarter of 2020 to the third quarter of 2020. Improvement will continue to be made until it is hoped that the year-end perfor-mance or quarter IV/2020 will be better than the previous quarter," he explained to Bisnis, Wednesday (11/25/2020).

As a refined tin exporter, he continued, the reference for selling or exporting prices is the world metal price which is listed on the London Metal Exchange (LME). He hopes that the current metal price increase will be relatively stable.

"The increase in tin prices is certainly an indicator of the increasing demand for tin in the world, including the United States," he added.

Previously, Timah Management explained that vaccine trials in several countries had brought good hopes for the recovery of the metal commodity market. The state-owned mining company reported that...

Timah (TINS) Tekan Beban Utang dan Genjot Efisiensi

M. Nurhadi Pratomo

PT TIMAH Tbk. melakukan serangkain

strategi untuk memperbaiki kinerja funda-mental perseroan. Produsen timah itu percaya diri kinerja kuartal IV/2020 bakal lebih baik.

Sekretaris Perusahaan Timah Muhammad Zulkarnaen Dharmawi mengungkapkan ada tiga hal yang dilakukan perseroan untuk perbaikan fundamental. Pertama, perbaikan cash flow dengan menjaga cash flow tetap positif.

Kedua, pengurangan beban utang sehingga biaya utang menjadi lebih kecil. Ketiga, efisiensi di segala lini operasi untuk me-ningkatkan operating profit margin.

“Dari ketiga hal tersebut, terlihat perbaikan kinerja keuangan dari kuartal I/2020 hingga kuartal III/2020. Perbaikan akan terus dilakukan hingga diharapkan kinerja akhir tahun atau kuartal IV/2020 lebih baik dari kuartal sebelumnya,” jelasnya kepada Bisnis, Rabu (25/11/2020).

Sebagai eksportir logam timah, lanjut dia, acuan harga jual atau ekspor adalah harga logam dunia yang tercatat dalam bursa London Metal Exchange (LME). Pihaknya berharap kenaikan harga logam saat ini relatif stabil.

“Kenaikan harga logam timah tentunya merupakan salah satu indikator mening-katnya permintaan logam timah di dunia termasuk Amerika Serikat,” imbuhnya.

Sebelumnya, Manajemen Timah menjelas-kan bahwa uji coba vaksin di beberapa negara telah membawa harapan baik bagi pulihnya pasar komoditas logam. Per-seroan pertambangan milik negara itu...

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The state-owned mining company reported that tin demand rose by 8.07 percent on a quarterly basis in the third quarter of 2020.

The issuer coded TINS shares reported that tin prices continued to improve due to the deficit in the third quarter of 2020. Management is optimistic that prices will return to their original positions in early 2021.

TINS reported tin exports of 98 percent with the Asian continent market at 68 percent, Europe 15 percent, and America 15 percent in the third quarter of 2020. The remaining sales are made to the domestic market.

In the third quarter of 2020, TINS posted revenue of Rp 11.88 trillion. The realization was 18.42 percent lower than Rp14.56 trillion in the same period last year.

TINS recorded a net loss of Rp255.16 billion as of September 30, 2020. However, that number has shrunk from Rp390.07 billion in the second quarter of 2020. Editor: Aprianto Cahyo Nugroho

Perseroan pertambangan milik negara itu melaporkan permintaan logam timah naik 8,07 persen secara kuartalan pada kuartal III/2020.

Emiten berkode saham TINS itu melaporkan harga logam timah terus membaik akibat defisit pada kuartal III/2020. Manajemen optimistis harga akan kembali ke posisi semula pada awal 2021.

TINS melaporkan ekspor timah sebesar 98 persen dengan pasar benua Asia 68 persen, Eropa 15 persen, dan Amerika 15 persen pada kuartal III/2020. Sisanya, penjualan dilakukan ke pasar domestik.

Pada kuartal III/2020, TINS membukukan pendapatan Rp11,88 triliun. Realisasi itu lebih rendah 18,42 persen dari Rp14,56 triliun periode yang sama tahun lalu.

TINS tercatat masih membukukan rugi bersih Rp255,16 miliar per 30 September 2020. Namun, jumlah itu menciut dari Rp390,07 miliar pada kuartal II/2020. Editor : Aprianto Cahyo Nugroho

Luhut Reveals Freeport and Chinese Companies to Work Together to Build a Smelter

Herdi Alif Al Hikam - detikFinance

COORDINATING Minister for Maritime Affairs

and Investment Luhut Binsar Pandjaitan said Freeport Indonesia would cooperate with a steel company from China, Tsingshan Steel Indonesia to build a copper-nickel smelter.

"Last night we discussed the matter of cooperating with Freeport and Tsingshan, a company from China," said Luhut in the EBTKE Conex 2020 webinar, Wednesday (11/25/ 2020).

Luhut Ungkap Freeport dan Perusahaan China Kerja Sama

bikin Smelter Herdi Alif Al Hikam - detikFinance

MENKO Bidang Kemaritiman dan Investasi

Luhut Binsar Pandjaitan mengatakan Freeport Indonesia akan bekerja sama dengan perusaha-an baja dari China, Tsingshan Steel Indonesia untuk membuat smelter copper-nickel.

"Tadi malam kita membahas soal kerja sama pembuatan smelter copper-nickel dengan Freeport dan Tsingshan, perusahaan dari China," ujar Luhut dalam webinar EBTKE Conex 2020, Rabu (25/11/2020).

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He said the smelter construction would begin immediately with a target of completion in 2023. He said the smelter would produce sulfide which is the raw material for lithium batteries.

"We are sure that the smelter will be operational in 2023. They will also produce sulfide which can be used as raw material for lithium batteries," said Luhut.

With the construction of this smelter, according to him, Indonesia could become a global player in the electric battery industry.

"By 2023 we believe we can produce lithium batteries and Indonesia can become part of the global electric battery supply chain," said Luhut.

Meanwhile, it is possible that the government will build a lithium battery factory in Weda Bay, Halmahera. According to him, there is already a large nickel industrial area there.

"The lithium battery will be in Weda Bay in Halmahera because nickel and copper ore will also be there. I think the size is 10 thousand hectares there, it will be a mega-integrated industry," said Luhut. (ara/ara)

Dia mengatakan pembuatan smelter itu akan segera dimulai dengan target penye-lesaian pada tahun 2023. Dia mengatakan smelter ini akan memproduksi sulfide yang menjadi bahan baku baterai lithium.

"Kami yakin smelter dapat beroperasi pada tahun 2023. mereka juga akan mem-produksi sulfide yang bisa jadi bahan baku lithium battery," kata Luhut.

Dengan pembangunan smelter ini menurut-nya Indonesia bisa menjadi pemain global pada industri baterai listrik.

"Pada tahun 2023 kami yakin kami dapat memproduksi baterai lithium dan Indonesia bisa menjadi bagian dari rantai pasok baterai listrik global," ungkap Luhut.

Sementara itu, kemungkinan pemerintah akan membuat pabrik baterai lithium di Weda Bay, Halmahera. Menurutnya, di sana sudah ada kawasan industri nikel yang besar.

"Baterai lithium akan berada di Weda Bay di Halmahera karena bijih nikel dan tembaga juga akan ada di sana. Saya pikir di sana ukurannya 10 ribu hektare, itu akan men-jadi industri yang mega-integrated," jelas Luhut. (ara/ara)

Observer: Job Creation Law

Overcomes Many Problems in the Mining Sector

THE EXISTENCE of the Job Creation Law which reaffirms the Coal Mineral Law is considered to provide greater certainty in the mining sector. One of them is allowing the provision of 0% royalties for business actors that increase the added value of coal (downstream).

Pengamat: UU Cipta Kerja Atasi

Banyak Masalah di Sektor Pertambangan

HADIRNYA Undang-Undang Cipta Kerja

yang menegaskan kembali UU Mineral Batubara dinilai akan memberikan kepastian yang lebih besar di sektor pertambangan. Salah satunya yakni memungkinkan adanya pemberian royalti 0% bagi pelaku usaha yang meningkatkan nilai tambah batubara (hilirisasi).


Chairman of the Indonesian Mining & Energy Forum (IMEF) Singgih Widagdo emphasized that the presence of the Job Creation Law is very positive for economic recovery, especially in terms of mining. Through the Job Creation Law, the state can overcome many problems in mining, especially related to the current down-stream jams.

"This condition (the problem in mining) needs to be addressed and the Job Creation Law is put in place to change it. This law provides greater certainty in the mining sector," said Chairman Singgih in Jakarta, Thursday (26/11).

According to him, downstreaming is able to accelerate coal as an economic booster compared to currently being a revenue driver. Singgih believes this can also accelerate the absorption of labor.

A similar sentiment was also expressed by the Chairman of the Indonesian Chamber of Commerce (Kadin) Kebumen Muhammad Faukhan. According to him, apart from being a breakthrough in law, the Job Creation Law also has a positive impact.

He gave an example, the price of coal shares in the last ten years has a unique pattern, namely there are certain times when the share price can go up. Thus, he continued, the Job Creation Law could make coal stock prices rise due to regulatory updates and of course provide opportunities for entrepreneurs to enjoy it.

"However, there is still a need for synergy between the government, corporations and scientists to make mining environmentally friendly and have a significant impact on the economy," he said. Editor: Aris Cahyadi

([email protected])

Ketua Indonesian Mining & Energy Forum (IMEF) Singgih Widagdo menegaskan,

kehadiran UU Cipta Kerja sangat positif untuk pemulihan ekonomi, terutama dalam

hal pertambangan. Melalui UU Cipta Kerja, negara dapat mengatasi banyak masalah

dalam pertambangan, terutama terkait macetnya hilirisasi saat ini.

"Kondisi ini (masalah dalam pertam-

bangan) perlu diatasi dan UU Cipta Kerja diletakkan untuk mengubahnya. UU ini

memberikan kepastian yang lebih besar di sektor pertambangan," tegas Ketua Singgih

di Jakarta, Kamis (26/11).

Menurut dia, hilirisasi mampu memper-cepat batubara sebagai economic booster

dibandingkan saat ini sebatas revenue driver. Singgih meyakini, hal ini juga dapat

mempercepat penyerapan tenaga kerja.

Hal senada juga diungkapkan Ketua Kamar

Dagang Indonesia (Kadin) Kebumen Muhammad Faukhan. Menurut dia, selain

sebagai satu terobosan dalam hukum, UU Cipta Kerja pun memiliki dampak positif.

Dia mencontohkan, harga saham batu bara

dalam sepuluh tahun terakhir mempunyai pola khas, yakni ada saat-saat tertentu

harga saham bisa menanjak naik. Dengan demikian, lanjutnya, UU Cipta Kerja dapat

membuat harga saham batubara naik karena perbaruan regulasi dan tentunya

memberikan peluang bagi pengusaha untuk menikmatinya.

"Namun, tetap perlu adanya sinergitas

antara pemerintah, korporat, dan ilmuwan yang membuat pertambangan menjadi

ramah lingkungan dan berdampak signi-fikan terhadap ekonomi," tegas dia. Editor :

Aris Cahyadi ([email protected])


Geologist: Coal energy is still the most rational choice

Reporter | Editor: Yudho Winarto

THE EFFICIENCY and stability of supply, as well as the price, have made coal, according to various groups, until now still the most rational choice for electrical energy in Indonesia.

Coal can be called the cheapest energy today and is relied upon in the midst of Indonesia's condition which requires a lot of energy for many sectors, including health and daily l i fe. Technological advances have also made fossil energy no longer classified as dirty energy.

General Chairperson of the Indonesian Geological Economy Society-Indonesian Association of Geologists (MGEI-IAGI) Budi Santoso explained the efficiency and environmentally friendly aspects of coal energy.

He mentioned, the cheap price of coal energy is due to its spread throughout Indonesia. Thus, coal is not only easy to obtain and cheap, it is also in stable supply.

"It is very rational if we control coal energy. So coal energy which is called dirty energy is a hoax. I guarantee it because Indonesian coal has low ash and low sulfur," Budi said in his statement, Wednesday (25/11).

He also said, the results of research on the amount of electricity costs, coal energy is still the cheapest for consumers.

Regarding the environmental impact, MGEI-IAGI stated that the results of the study also concluded that coal power generation technology could capture dust with a size of under five microns.

Ahli Geologi: Energi batubara masih jadi pilihan paling rasional

Reporter | Editor: Yudho Winarto

KEEFISIENAN dan kestabilan pasokan, serta harga menjadikan batubara, menurut berbagai kalangan, hingga kini masih men-jadi pilihan paling rasional untuk energi listrik di Indonesia.

Batubara dapat disebut sebagai energi termurah saat ini dan diandalkan di tengah kondisi Indonesia yang memerlukan banyak energi untuk banyak sektor, termasuk kese-hatan dan kehidupan keseharian. Kemajuan teknologi juga menjadikan energi fosil ini tak lagi digolongkan sebagai energi kotor.

Ketua Umum Masyarakat Geologi Ekonomi Indonesia-Ikatan Ahli Geologi Indonesia (MGEI-IAGI) Budi Santoso menjelaskan, aspek keefisienan dan ramah lingkungan energi barubara.

Dia menyebutkan, murahnya harga energi batubara disebabkan keberadaannya menye-bar di hampir seluruh Indonesia. Dengan demikian, batubara tidak hanya mudah didapat dan murah, juga stabil pasokannya.

"Sangat rasional kalau kita mengendalikan energi batubara. Jadi energi batubara yang disebut energi kotor adalah hoax. Saya jamin karena batubara indonesia abunya rendah, sulfurnya juga rendah," kata Budi dalam keterangannya, Rabu (25/11).

Dia juga menyebutkan, hasil penelitian terhadap besaran biaya listrik, energi batu-bara masih yang termurah bagi konsumen.

Sedang menyoal dampak lingkungan, MGEI-IAGI menyatakan, hasil penelitian juga menyimpulkan bahwa teknologi pembangkit listrik batubara sudah bisa menangkap debu dengan ukuran di bawah lima mikron.


In fact, for the problem of acid gas exhaust, technology is now also very good at desulphurisation. Therefore, generating emissions are not dangerous.

"Modern technology for power plants is very advanced. Emissions are strictly controlled, even lower than 5 microns. In fact, the dust on the road is between 5-15 microns," he explained.

The chairman of the Indonesian Electricity Society, Wiluyo Kusdwiharto, agreed on different occasions. Cheap electricity production will encourage the supply of electricity to competitive communities, industries and businesses, and will attract industry. The price of electricity is also a factor that determines the ease of doing business in a country.

Therefore, to provide electricity to the people, the state must fulfill the principles of sufficiency, reliability, sustainability, affordability and justice. The use of coal is still the most appropriate for Indonesia and many countries.

Wiluyo did not deny the many accusations that coal power plants produced dirty energy. But that is the condition it used to be.

He reminded that the development of modern technology has made coal power plants even more efficient and environ-mentally friendly. Current power plants in the country have adopted this environ-mentally friendly modern technology.

Energy observer Ahmad Redi also expressed this rational option. According to his records, currently coal is still the main raw material for power plants with a percentage of around 60%.

In the calculation of efficiency, the use of coal allows consumers to also get affordable electricity prices.

Bahkan, untuk masalah buangan gas asam, teknologi kini juga sudah melakukan desulfurisasi yang sangat baik. Karenanya, emisi pembangkit tak berbahaya.

"Teknologi modern pembangkit sudah sangat maju. Emisinya secara ketat dikontrol jauh bahkan jauh lebih kecil dari 5 mikron. Padahal, debu-debu di jalan itu antara 5-15 mikron," urainya.

Ketua Masyarakat Ketenagalistrikan Indonesia, Wiluyo Kusdwiharto, di kesem-patan berbeda mengamini. Produksi listrik yang murah akan mendorong penyediaan listrik ke masyarakat, industri, dan bisnis yang kompetitif, serta akan menjadi daya tarik bagi industri. Harga listrik juga menjadi faktor yang menentukan ease of doing business di suatu negara.

Karenanya, untuk menyediakan listrik kepada masyarakat, negara harus meme-nuhi prinsip kecukupan, keandalan, keber-lanjutan, keterjangkauan, dan keadilan. Penggunaan batubara adalah masih yang paling pas untuk Indonesia dan banyak negara.

Wiluyo tak menampik banyak tudingan terhadap PLTU batubara menghasilkan energi kotor. Tapi itu adalah kondisi dulu.

Dia mengingatkan, perkembangan tekno-logi modern menjadikan PLTU batubara justru kian efisien ramah lingkungan. Pembangkit kekinian di Tanah Air, sudah mengadopsi teknologi modern ramah lingkungan ini.

Pengamat Energi Ahmad Redi juga mengutarakan opsi rasional ini. Menurut catatan dia, saat ini batubara masih men-jadi bahan baku utama pembangkit listrik dengan persentase sekitar 60%.

Di perhitungan keefisienan, penggunaan batubara menyebabkan konsumen juga bisa memperoleh harga listrik yang ter-jangkau.


Economy Recovers, China Will Buy Indonesia Coal Rp 20.6 T in

2021 Wilda Asmarini, CNBC Indonesia

CHINA's economy has now indeed

improved considerably compared to the beginning of the pandemic. In fact, in the next year China is expected to buy Indonesian coal worth US$ 1.47 billion or around Rp. 20.6 trillion (assuming an exchange rate of Rp. 14,100 per US$).

This is based on the Memorandum of Understanding (MoU) between the Indonesian Coal Mining Association (APBI) and China Coal Transportation and Distribution which was signed today, Wednesday (25/11/2020).

"We expect an increase in coal exports to China by around 200 million tonnes in the coming year," said APBI in its official statement today, Wednesday (25/11/ 2020), quoted by Reuters.

However, the amount of coal exports to China will be reviewed every year.

This was confirmed by APBI Executive Director Hendra Sinadia to CNBC Indonesia. He admitted that there was a signing of an MoU between APBI and China Coal Transportation and Distribution today.

"Yes, there was the signing of the MoU," he said without explaining in more detail.

Indonesia, which is the largest thermal coal exporter in the world, has even promoted coal sales through diplomatic channels to Southeast Asia, such as Vietnam, in line with the decline in exports to China.

Ekonomi Pulih, China Akan Beli Batu Bara RI Rp 20,6 T di 2021

Wilda Asmarini, CNBC Indonesia

PEREKONOMIAN China kini memang

sudah jauh membaik dibandingkan saat awal pandemi, bahkan pada tahun depan China diperkirakan akan membeli batu bara Indonesia senilai US$ 1,47 miliar atau sekitar Rp 20,6 triliun (asumsi kurs Rp 14.100 per US$).

Hal tersebut berdasarkan Nota Kese-pahaman (MoU) antara Asosiasi Pertam-bangan Batu Bara Indonesia (APBI) dengan China Coal Transportation and Distribution yang ditandatangani pada hari ini, Rabu (25/11/2020).

"Kami harapkan adanya peningkatan ekspor batu bara ke China sekitar 200 juta ton di tahun mendatang," ungkap APBI dalam keterangan resminya pada hari ini, Rabu (25/11/2020), dikutip dari Reuters.

Namun demikian, jumlah ekspor batu bara ke China tersebut akan dikaji ulang setiap tahunnya.

Hal tersebut dibenarkan oleh Direktur Eksekutif APBI Hendra Sinadia kepada CNBC Indonesia. Dia mengakui ada penan-datanganan MoU antara APBI dengan China Coal Transportation and Distribution hari ini.

"Iya benar ada tadi signing MoU," ungkap-nya tanpa menjelaskan lebih rinci.

Indonesia yang merupakan negara peng-ekspor batubara thermal (thermal coal) ter-besar di dunia bahkan melakukan promosi penjualan batu bara melalui jalur diplomatik ke kawasan Asia Tenggara seperti Vietnam seiring dengan menurunnya ekspor ke China.


Based on Refinitiv data, China imported coal from Indonesia from January to October 2020 amounting to 86.88 million tons, down 24.5% from 115.03 million tons in the same period last year. (wia)

Berdasarkan data Refinitiv, China meng-impor batu bara dari Indonesia selama Januari hingga Oktober 2020 sebesar 86,88 juta ton, turun 24,5% dari 115,03 juta ton pada periode yang sama tahun lalu. (wia)

Luhut Reveals the Causes of

Indonesia Difficult to Get Away from Coal

THE COORDINATING Minister for Maritime Affairs and Investment, Luhut Panjaitan, stated that Indonesia is still having difficulty leaving the use of coal as an energy source.

This is because Indonesia's dependence on

coal on total energy sources is still more than 60 percent.

"We can't say that immediately we don't want to use coal anymore because I believe

that more than 60 percent of Indonesia's energy sources are still produced from

coal," he said at the Investment Summit online discussion, Wednesday (25/11).

Even so, Luhut said it did not mean that the

Indonesian government was not trying to accelerate the use of new renewable

energy (EBT) to gradually replace coal or other fossil energy sources.

He added that even though it is rich in coal

resources, domestic coal consumption is actually not the largest. He admitted that

domestic coal consumption has increased.

However, the increase was not too

significant. He added that export activities dominate the results of coal exploration.

Luhut Ungkap Sebab RI Sulit

Lepaskan Diri dari Batu Bara

MENTERI Koordinator Bidang Maritim

dan Investasi Luhut Panjaitan menyatakan Indonesia masih kesulitan untuk me-ninggalkan penggunaan batu bara sebagai sumber energi.

Pasalnya, ketergantungan RI akan batu bara terhadap total sumber energi hingga sekarang masih lebih dari 60 persen.

"Kami tidak bisa bilang kalau dengan segera tidak mau lagi menggunakan batu bara karena saya percaya lebih dari 60 persen dari sumber energi Indonesia masih dihasilkan dari batu bara," katanya pada diskusi daring Investment Summit, Rabu (25/11).

Meski begitu, Luhut menyebut bukan berarti pemerintah RI tak berusaha mempercepat pemanfaatan energi baru terbarukan (EBT) untuk secara bertahap menggantikan batu bara atau sumber energi fosil lainnya.

Ia menambahkan meski kaya akan sumber daya batu bara, konsumsi batu bara dalam negeri sendiri sebetulnya tak terbesar. Ia mengaku konsumsi batu bara di dalam negeri naik.

Namun, kenaikan tak terlalu signifikan. Dia menambahkan kalau kegiatan ekspor justru mendominasi hasil eksplorasi batu bara.

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He said of the total coal production of 323.3 million tonnes of oil equivalent in 2018, 261.7 million tonnes of which were actually exported. The remaining 61.6 million tons were used for domestic consumption.

"We no longer want to just export raw coal or use it, but we want to see the down-streaming of coal. Maybe we can go down-stream of methanol because we need methanol for B30," he said.

Furthermore, Luhut did not deny that the use of renewable energy in Indonesia is still low even though it has tremendous potential.

Overall, Indonesia has renewable energy potential of 443,208 MW. This comes from solar, wind, geothermal, water, biomass, and others. However, the utilization or utilization is only around 2 percent of the potential.

"Indonesia has great potential for EBT but its utilization is still small," he said. (hrf/agt)

Ia mengatakan dari total produksi batu bara sebesar 323,3 juta ton setara minyak pada 2018, sebanyak 261,7 juta ton di antaranya justru diekspor. Sisa 61,6 juta ton baru digunakan untuk konsumsi dalam negeri.

"Kami tidak mau lagi hanya mengekspor batu bara mentah atau memakainya, tapi kami ingin melihat hilirisasi batu bara. Mungkin kami bisa mengarah ke hilirisasi metanol karena butuh metanol untuk B30," kata dia.

Lebih lanjut, Luhut tak menampik bahwa penggunaan energi terbarukan di Indonesia masih rendah meski memiliki potensi yang luar biasa.

Secara keseluruhan, Indonesia memiliki potensi energi terbarukan sebesar 443,208 MW. Ini berasal dari energi solar, angin, geotermal, air, biomass, dan lainnya. Namun, utilisasi atau pemanfaatannya hanya ber-kisar 2 persen dari potensi.

"Indonesia memiliki potensi EBT yang besar namun utilisasinya masih kecil," ujarnya. (hrf/agt)

Joe Biden Becomes US President, Copper Prices Print the Highest

Record in 6 Years Lorenzo Anugrah Mahardhika

THE PRICE of copper resumed its upward

trend and managed to touch its highest level in six years. This is in line with the transition to power that has rolled in the US as well as dwindling supply levels in China.

Based on data from Bloomberg, copper prices were observed to increase by 0.9 percent to US$ 7,360.50 per metric ton on the London Metal Exchange (LME). This record is at the same time the highest price since last January 2014.

Joe Biden Jadi Presiden AS, Harga Tembaga Cetak Rekor

Tertinggi dalam 6 Tahun Lorenzo Anugrah Mahardhika

HARGA tembaga kembali melanjutkan tren

kenaikan dan berhasil menyentuh level tertinggi dalam enam tahun. Hal tersebut terjadi seiring dengan transisi kekuasaan yang telah bergulir di AS serta tingkat persediaan yang menipis di China.

Berdas arkan data dari Bloomberg, harg a tembaga terpantau naik hingga 0,9 persen ke US$7.360,50 per metrik ton pada London Metal Exchange (LME). Catatan tersebut sekaligus menjadi harga tertinggi sejak Januari 2014 lalu.

https://www.bisnis.com/user/671/lorenzo.anugrah.mahardhika

https://search.bisnis.com/?q=tembaga


Copper prices are also enjoying an eight straight month rally. This price rally is the longest since 2011.

One of the pillars of the increase in copper prices is the ratification of the results of the US presidential election which took place last November. The General Service Administration has confirmed Joe Biden as the winner of the US presidential election on Monday local time.

The transition process also further strengthens the US$ 2 trillion low-carbon energy development plan promised by Biden in his campaign. The copper commodity is the main raw material for the manufacture of electrical and electronic components, which will be the main motors in the plan.

On the other hand, copper prices are also supported by China's economic growth which is starting to show signs of rebounding. This was reinforced by the statement of Chinese Prime Minister Li Keqiang who said China's economic growth would return to the appropriate level in 2021.

A report from JPMorgan Chase & Co said that the total contract value on commodity trading, including copper , had also returned to pre-coronavirus levels. This is partly supported by the recovery of China's economy which has resulted in increased demand for commodities, one of which is copper.

RJO Futures analyst Frank Cholly said, the many positive sentiments made the copper market currently move bullish. This was also supported by shrinking copper supply and rising demand.

"Copper prices still have room to continue rising in line with global economic signals that show a recovery trend for the next six months," he said as quoted by Bloomberg.

Harga tembaga juga tengah menikmati reli kenaikan selama delapan bulan beruntun. Reli harga ini merupakan yang terpanjang sejak 2011 lalu.

Salah satu penopang kenaikan harga tembaga adalah pengesahan hasil pemilu presiden AS yang berlangsung pada Novem-ber lalu. General Service Administration telah mengukuhkan Joe Biden sebagai pemenang pemilihan presiden AS pada Senin waktu setempat.

Proses transisi tersebut juga semakin mem-perkuat rencana pengembangan energi rendah karbon bernilai US$2 triliun yang dijanjikan Biden dalam kampanyenya. Komo-ditas tembaga merupakan bahan baku utama dalam pembuatan komponen listrik dan elektronik yang menjadi motor utama dalam rencana tersebut.

Di sisi lain, harga tembaga juga didukung oleh pertumbuhan ekonomi China yang mulai menunjukkan tanda rebound. Hal tersebut diperkuat pernyataan Perdana Menteri China Li Keqiang yang mengatakan, pertumbuhan ekonomi China akan kembali ke level yang sesuai pada tahun 2021.

Laporan dari JPMorgan Chase & Co menye-butkan, total nilai kontrak pada perdagangan komoditas, termasuk tembaga, juga telah kembali ke level sebelum pandemi virus corona. Hal tersebut salah satunya didukung oleh pulihnya perekonomian China yang berujung pada kenaikan permintaan komo-ditas, salah satunya adalah tembaga.

Analis RJO Futures Frank Cholly mengatakan, banyaknya sentimen positif membuat pasar tembaga saat ini bergerak bullish. Hal ini juga ditopang oleh pasokan tembaga yang menyusut serta kenaikan permintaan.

“Harga tembaga masih memiliki ruang untuk melanjutkan kenaikannya seiring dengan sinyal perekonomian global yang menunjuk-kan tren pemulihan selama enam bulan ke depan,” katanya dikutip dari Bloomberg.


Meanwhile, based on data from the Shanghai Futures Exchange, the amount of copper inventories in warehouses in China recorded the lowest amount since 2014. This also denies the downward trend in demand that generally occurs in winter due to slowing manufacturing activity.

Report from Citic Futures Co. He stated, copper consumption in China has beat market expectations.

"This is supported by a rebound in demand from the energy, automotive and house-hold appliances sectors," the report quoted the report as saying.

On the other hand, Jefferies analyst Chris LaFemina predicts that the deficit in copper inventories will become increasing-ly out of control in line with the increase in demand in the electric vehicles and renewable energy sectors. This minimal supply will result in a surge in copper prices.

"In our bullish scenario, copper demand will exceed supply starting from 2021," he said. Editor: Rivki Maulana

Sementara itu, berdasarkan data dari Shanghai Futures Exchange, jumlah persediaan tembaga pada gudang-gudang di China mencatatkan jumlah terendah sejak 2014. Hal ini sekaligus membantah tren pelemahan permintaan yang umumnya terjadi pada musim dingin seiring dengan perlambatan aktivitas manufaktur.

Laporan dari Citic Futures Co. Menyebutkan, konsumsi tembaga di China telah meng-kalahkan ekspektasi pelaku pasar.

“Hal ini didukung oleh rebound permintaan dari sektor energi, otomotif, dan alat-alat rumah tangga,” demikian kutipan laporan tersebut.

Di sisi lain, analis Jefferies Chris LaFemina memperkirakan, defisit persediaan tembaga akan semakin tidak terkendali seiring dengan kenaikan permintaan di sektor kendaraan listrik dan energi terbarukan. Pasokan yang minim tersebut akan berimbas pada lonjakan harga tembaga.

“Dalam skenario bullish kami, permintaan tembaga akan melebihi pasokannya mulai dari tahun 2021,” katanya. Editor : Rivki

Maulana

When coal approaching US$70, no wonder the shares are orgies

Tirta Citradi, CNBC Indonesia

NEWCASTLE thermal coal contract price

continues to record good performance. The black stone contract price is now getting closer to the level of US$ 70/ton.

In trading Wednesday (11/25/2020), the Newcastle contract price closed up 0.74% to US$ 69.4/ton. This is the highest price since 30 March. On a month to date basis, the price of this commodity has risen 17.13%.

Detik-detik Batu Bara ke US$70, Pantas Sahamnya Pesta Pora

Tirta Citradi, CNBC Indonesia

HARGA kontrak batu bara termal Newcastle

terus mencatatkan performa yang ciamik. Harga kontrak batu legam itu kini sudah semakin dekat dengan level US$ 70/ton.

Pada perdagangan Rabu (25/11/2020), harga kontrak Newcastle ditutup menguat 0,74% ke US$69,4/ton. Ini menjadi harga ter-tinggi sejak 30 Maret lalu. Secara month to date, harga komoditas ini telah naik 17,13%.


In the midst of the negative issue that China is boycotting Australian coal products, Indonesia has received encouraging news. Yesterday, it was reported that China was expected to buy Indonesian coal worth US$ 1.47 billion or around Rp.20.6 trillion (assuming an exchange rate of Rp.14,100 per US$) in 2021.

This is based on the Memorandum of Under-standing (MoU) between the Indonesian Coal Mining Association (APBI) and China Coal Transportation and Distribution which was signed today, Wednesday (25/11/2020).

"We expect an increase in coal exports to China by around 200 million tonnes in the coming year," said APBI in its official statement today, Wednesday (25/11/ 2020), quoted by Reuters.

However, the amount of coal exports to China will be reviewed every year.

This was confirmed by APBI Executive Director Hendra Sinadia to CNBC Indonesia. He admitted that there was a signing of an MoU between APBI and China Coal Transportation and Distribution today.

"Yes, there was the signing of the MoU," he said without explaining in more detail.

Indonesia, which is the largest thermal coal exporter in the world, has even promoted coal sales through diplomatic channels to Southeast Asia, such as Vietnam, in line with the decline in exports to China.

Adding to the positive sentiment for coal prices is the 30% increase in oil prices this month. Oil and coal are primary energy commodities.

The good news regarding the development of the Covid-19 vaccine also provides energy for the increase in the price of this primary energy source because of optimism that the economy will recover even though the road to vaccination is still very long.

Di tengah isu negatif bahwa China mem-boikot produk batu bara Australia, Indonesia justru mendapat kabar yang menggem-birakan. Kemarin dikabarkan China diper-kirakan akan membeli batu bara Indonesia senilai US$ 1,47 miliar atau sekitar Rp 20,6 triliun (asumsi kurs Rp 14.100 per US$) pada 2021.

Hal tersebut berdasarkan Nota Kesepahaman (MoU) antara Asosiasi Pertambangan Batu Bara Indonesia (APBI) dengan China Coal Transportation and Distribution yang ditanda-tangani pada hari ini, Rabu (25/11/2020).

"Kami harapkan adanya peningkatan ekspor batu bara ke China sekitar 200 juta ton di tahun mendatang," ungkap APBI dalam keterangan resminya pada hari ini, Rabu (25/11/ 2020), dikutip dari Reuters.

Namun demikian, jumlah ekspor batu bara ke China tersebut akan dikaji ulang setiap tahunnya.

Hal tersebut dibenarkan oleh Direktur Eksekutif APBI Hendra Sinadia kepada CNBC Indonesia. Dia mengakui ada penanda-tanganan MoU antara APBI dengan China Coal Transportation and Distribution hari ini.

"Iya benar ada tadi signing MoU," ungkapnya tanpa menjelaskan lebih rinci.

Indonesia yang merupakan negara peng-ekspor batu bara thermal (thermal coal) terbesar di dunia bahkan melakukan promosi penjualan batu bara melalui jalur diplomatik ke kawasan Asia Tenggara seperti Vietnam seiring dengan menurunnya ekspor ke China.

Menambah sentimen positif bagi harga batu bara adalah kenaikan harga minyak sepanjang bulan ini yang mencapai 30%. Minyak dan batu bara merupakan komoditas energi primer.

Adanya kabar baik terkait perkembangan vaksin Covid-19 juga memberikan tenaga bagi kenaikan harga sumber energi primer ini karena adanya optimisme perekonomian akan pulih meski jalan menuju vaksinasi masih sangatlah panjang.


The last power that also made coal prices soar throughout November was the fundamental improvement in the seaborne market in the Asia Pacific region.

Coal flow data Refintiv estimates that India's coal imports (metallurgical and thermal coal) for October were 18.2 million metric tons. This is the highest monthly tally since February 2020, and almost double the monthly flow from June 2020 which was only 9.1mt.

October 2020 imports were 20% higher than last year's October. Last month's coal imports were recorded at 15.2 million tons. The recovery in India's coal imports, which includes an additional boost from restocking, has been the main factor supporting the recovery in seaborne coal prices.

The increase in coal prices has also had an impact on the appreciation of coal mining stocks in the country recently. On a week-to-date basis, PT Indo Tambang Raya Megah Tbk (ITMG) shares rose 14.3%, PT Adaro Energy Tbk (ADRO) shot 10.7% and PT Bukit Asam Tbk (PTBA) appreciated 7.31%. CNBC INDONESIA RESEARCH TEAM (twg/twg)

Tenaga terakhir yang juga membuat harga batu bara melesat sepanjang November adalah perbaikan fundamental di pasar batu bara lintas laut (seaborne) kawasan Asia Pasifik.

Data aliran batu bara Refintiv memper-kirakan bahwa impor batubara India (batu bara metalurgi dan termal) untuk bulan Oktober adalah 18,2 juta metrik ton. Ini adalah penghitungan bulanan tertinggi sejak Februari 2020, dan hampir dua kali lipat aliran bulanan dari Juni 2020 yang hanya 9,1mt.

Impor Oktober 2020 20% lebih tinggi dari Oktober tahun lalu. Impor batu bara bulan lalu tercatat sebesar 15,2 juta ton. Pemulihan dalam impor batu bara India, yang termasuk dorongan tambahan dari restocking, telah menjadi faktor utama yang mendukung pemulihan harga batu bara lintas laut (seaborne).

Naiknya harga batu bara juga turut ber-dampak pada apresiasi saham-saham tambang batu bara di Tanah Air belakangan ini. Secara week to date, saham PT Indo Tambang Raya Megah Tbk (ITMG) naik 14,3%, PT Adaro Energy Tbk (ADRO) melesat 10,7% dan PT Bukit Asam Tbk (PTBA) terapresiasi 7,31%. TIM RISET CNBC INDONESIA (twg/twg)

Nickel Mines acquires 70% of Angel nickel project £367m acquisition will take place in two stages

Dominic Ellis

AUSTRALIA’s Nickel Mines (NIC) has signed an agreement with partner Shanghai Decent

Investment to acquire a 70 percent stake, worth £367.2 million, in the Angel nickel project in Indonesia.

In a statement, the miner says that the execution triggers a £14.98 million payment, which NIC will fund from cash reserves. The company plans to acquire the Angel nickel project over two stages:


Stage 1 will acquire 30 percent of the project for £157.3 million (less £22.4 million prepayments), which will be due no later than March 31, 2021.

Stage 2 will acquire 40 percent of the project for £209.7 million, which is due no later than December 31, 2021.

The Angel nickel project comprises four rotary kiln electric furnaces (RKEF) lines, and a captive 380MW power station, which is currently under construction within the Indonesia Weda Bay Industrial Park (IWIP) on Halmahera Island in North Maluka province, the company says.

It adds that the four RKEF lines are expected to have an annual production capacity of 36,000 tonnes of equivalent contained nickel in nickel pig iron.

In October, Nickel Mines signed a memorandum of understanding to build, own and operate four RKEF lines within the Weda Bay Industrial Park, aiming to double its nickel production profile within two years.

“We are extremely pleased to have converted our initial MoU into a binding Agreement with Shanghai Decent and to have secured our equity participation in the Angel Nickel development project currently under way within the Indonesia Weda Bay Industrial Park," said Nickel Mines managing director Justin Werner.

“This transaction is transformative ... it will essentially double the company’s NPI production capacity and provide us with operational footprints within what will be the two largest nickel production centres globally over the next decade.”

Nickel Mines says that the development of Angel nickel project is not expected to exceed £524 million.

Additionally, Shanghai Decent will purchase the NPI product produced at Angel Nickel at market price. The project is planned to be commissioned no later than October 16 2022.

China to Buys Thermal Coal US$1.5B from Indonesia in 2021 By Desk Editor Insider

THE INDONESIAN Coal Mining Association said China would buy thermal coal from

Indonesia amounting to US$1.47 billion from starting next year. The trade deal has been signed by the organization and China Coal Transportation on Wednesday (11/25).

“It is expected that there will be an increase in coal exports to China by 200 million tones in the coming year, the target amount will be reviewed annually,” wrote the association in an official statement released today.

As the world’ largest thermal coal exporter, Indonesia has used diplomatic channels to promote coal sales throughout Southeast Asia, especially in Vietnam, as exports to China have slowed.

https://theinsiderstories.com/author/deskeditor/

https://theinsiderstories.com/indonesias-coal-consumption-for-dmo-only-141mt-in-2020/

https://theinsiderstories.com/india-indonesia-talks-on-coal-trading-after-slowing-in-three-quarters/


According to Refinitiv data, coal imports fom China, the world’ largest thermal coal consumer,

to Indonesia has decreased 24.5 percent in the first 10 months of 2020 to 86.88 million tones

(MT) of coal from a year ago to 115.03 MT of coal. The coordinating ministry for the economic

affairs data showed, as of October, the realization of national coal exports only slightly

exceeded 50 percent of this year’ targets, 395 MT of coal.

Until October, total export of thermal coal only 232.3 MT of coal or 58.88 percent of this year’

target. The sluggishness of the national coal industry also seen from the realization of

investment. From the initial target of $7.7 billion, only 27.16 percent or $2.1 billion has been

realized.

The minister of energy and mineral resources (MEMR), Arifin Tasrfin, said that the demand

for coal in the Indonesian market fell 20 percent and South Korea dropped by 15 percent due

to the policies of major coal importer countries such as India and China, which prioritize

domestic coal production.

The minister emphasized that the COVID-19 outbreak has also resulted in a decline of coal

price, global demand, limited access and mobility. as the impact, he said, the realization of

national coal production also fell to 362 MT of coal from a year ago reached 409 MT of coal.

MEMR data notes that the realization of coal production in the January – August of 2020

period is equivalent to 66 percent of the national coal production target at 550 MT of coal.

Even so, said Tasrifin, his office not changed the outlook for the national coal production until

the end of this year.

Currently, the reference of coal price for direct sales for delivery of Free on Board sales for

September at $49.42 a MT of coal. The benchmark level slightly decreased by 1.83 percent

compared to the August worth of $50.34 per MT of coal. When compared with the the same

month in 2019, the price amounting to $65.79 a MT of coal and experienced a significant

decreased of 24.88 percent.

To help the coal producers, Tasrifin has urged the coal producer to prioritize the fulfillment of

domestic primary energy needs to support the government’ renewable program. He also

decided to continue the domestic market obligation at least 25 percent of the total coal

production in 2020. These provisions are contained in Ministerial Decree Number 261 of

2019 concerning Fulfillment of Domestic Coal Needs for 2020.

The commodity trader Noble Resources, Global demand for imported thermal coal may rise to

960 MT in 2021, up from an expected 925 MT of coal in 2020, said Rodrigo Echeverri, head of

research at Noble. Its projected, the demand for this year will lowering from 1.04 BT of coal

seen in 2019 as the pandemic curtailed the consumption globally.

US$1: Rp14,100 Written by Editorial Staff, Email: [email protected]

https://theinsiderstories.com/moodys-prospects-dim-for-asias-coal-power-companies-on-slowing-power-demand/

https://theinsiderstories.com/indonesias-coal-prices-drops-to-us50-34-mt-in-august/

https://theinsiderstories.com/indonesias-coal-prices-drops-to-us50-34-mt-in-august/

https://theinsiderstories.com/indonesia-set-thermal-coal-price-us66-89-mt/

https://theinsiderstories.com/pandemic-effect-indonesias-coal-export-volume-drops-11/


Lynas nears construction of Kalgoorlie processing facility Vanessa Zhou

LYNAS Corporation is on track to commence the construction of its Kalgoorlie rare earth

processing facility in Western Australia in mid-2021.

Lynas chief executive Amanda Lacaze, speaking at the company’s general meeting, said that high level design for the facility had been completed.

The company is now working on detailed engineering design and procurement using learnings from Lynas Malaysia.

“I am particularly looking forward to the arrival of the rotary kiln as Lynas vice president upstream) Kam (Leung) assures me it will be really spectacular as it is lifted into place,” she said.

Beyond the progress of the processing facility, Lynas has expanded its product range by separating its production of neodymium-praseodymium (NdPr) to two separate products, to deliver more value for the company.

Price outcomes from separated Nd and Pr were positive, Lacaze said, with the former realising a premium of around $US2-3 ($2.7-$4.1) per kilogram over NdPr.

The company is also separating its medium and heavy rare earth feedstock, which is currently sold in the form of SEG (samarium, europium and gadolinium) to a separator in China.

“The market is strong and attractive and we expect that demand for and price of these elements will continue to grow as demand for high power electric motors grow,” Lacaze said.

Despite the uncertainty introduced by the global pandemic, the chief executive noted that demand appeared to be returning to pre-COVID-19 levels, particularly in Japan and China.

Demand for magnetic materials was also showing greater recovery than that for catalytic materials.

At Lynas’ Mt Weld operation in Western Australia, the company has drilled deeper below the area of the mineral resources and ore reserves.

It reported significant and continuous intersections of rare earth minerals, including light and heavy rare earth elements.

“A cornerstone of Lynas’ 2025 growth strategy is ongoing access to high quality rare earth feedstock,” Lacaze concluded.

“… In practical terms, Lynas seeks to maintain ore reserves with greater than 25 years life.

“… We are committed to exploring below the current mineral resource to understand the potential for primary REE (rare earth element) mineralisation below the weathered zone.”

https://www.australianmining.com.au/author/vanessa-adams-the-conversation/


China claims 'quality' problem with Australian coal as $700 million worth sits idle off ports

By China correspondent Bill Birtles, with wires

CHINA has suggested almost $700 million worth of Australian coal is being held up at ports

due to "environmental quality" problems.

For months, dozens of bulk carriers have been stranded off the coast of two major Chinese ports unable to unload their cargoes, with a Bloomberg estimate of more than 60 ships now in limbo in November.

Chinese authorities have not previously explained the exact reasons for the long delays, which have coincided with a series of restrictions and bans Beijing has imposed on other Australian exports amid diplomatic tensions.

But in answer to a question on Wednesday, China's Foreign Ministry spokesman Zhao Lijian has for the first time suggested quality problems are to blame.

"In recent years, China Customs has conducted risk monitoring and analysis on the safety and quality of imported coal and discovered imported coal not meeting environmental standards is relatively common," he said.

China has unofficially banned Australian coal imports since October amid souring relations between the two countries, and in turn, increased imports from Mongolia and Russia.

Mr Zhao said China had strengthened the examination and testing of imported coal regarding safety, quality and environmental standards "so as to better protect the legitimate interests and the environmental interests of the Chinese side".

Coal is one of seven Australian imported products that have reportedly been targeted with bans by China amid rising tensions.

Earlier this month, multiple Australian exporters said that their Chinese business partners had been informally instructed by Commerce ministry officials to stop buying seven types of Australian exports, including coal.

But many of the bulk carriers sitting off the Chinese ports arrived with their Australian cargo prior to those instructions being given.

China's Government has stopped short of directly linking the various trade measures with its anger at Australia but has made little effort to dispel the widely-held view that it is retaliation for a series of Australian moves Beijing objects to, including a public call for a coronavirus inquiry.

The Federal Government last week said the reports were "deeply troubling" but China has denied it is levying coordinated trade action against Australia.

China accounts for about one-third of Australia's total exports.

The stalled shipments account for about a quarter of all imports waiting to pass customs clearance in China.

https://www.abc.net.au/news/bill-birtles/5840508


China's coking coal imports from Australia slumped in October to 1.53 million tonnes, or about 26 per cent of its total imports of the fuel, customs data showed, down from 78 per cent in March.

Despite the bans, Australia remains China's top seaborne coal supplier in 2020, as Mongolia was forced to trim exports in the first half of the year due to the coronavirus outbreak. ABC/Reuters

Fund warns Turquoise Hill over troubled Oyu Tolgoi Bruno Venditti

LONDON investment firm Odey Asset Management has accused Turquoise Hill of destroying

value through lack of action over problems at Oyu Tolgoi.

In an open letter, Odey AM accused the miner of holding the “people of Mongolia… accountable for Turquoise Hill’s failings” after it called the Mongolian government’s $7bn equity stake in the copper-gold mine “worthless”.

Turquoise Hill, a subsidiary of Rio Tinto, owns two-thirds of the Oyu Tolgoi giant copper mine with the rest owned by the Mongolian government. The mine is Rio’s biggest copper growth project, but it has faced geological challenges and legal setbacks.

Odey said Rio Tinto was allowing a false market for Turquoise Hill’s shares with a rights issue from the Canadian company on the horizon. The hedge fund owns shares in Rio Tinto and has a short position in Turquoise Hill.

In a letter to Rio Tinto’s finance chief Jakob Stausholm the fund said Turquoise Hill would require an $8.9bn rights issue after delays and budget overruns at Oyu Tolgoi.

“Indeed, Odey has sought to ask questions on both Rio Tinto’s and Turquoise Hill’s public earnings calls, but Odey has not been given the opportunity on these calls to propose any such questions, limiting the opportunity for greater public scrutiny of the Oyu Tolgoi investment case,” the investment firm said.

In July, Rio Tinto said it cut estimated reserves at its underground copper mine extension of Oyu Tolgoi and confirmed it would face delays and higher costs after ground instability forced it to redesign the mine plan.

The U.S. Securities and Exchange Commission is examining claims from a whistleblower that Rio Tinto was aware of problems months before the company confirmed the project would face delays.

“Odey does not believe that the $4.4bn project finance package associated with Oyu Tolgoi is accurately described as ‘project’ finance,” the hedge fund said.

“While it is referred to as ‘project’ finance by the lending parties, the reality is that Rio Tinto has given corporate guarantees to the lenders for most of the duration of these loans. True project finance, as you know, is ring-fenced, non-recourse lending to an asset.”

https://www.mining.com/author/bvenditti/

https://www.mining.com/rio-tinto-faces-legal-setback-at-oyu-tolgoi-mine/

https://www.mining.com/web/u-s-sec-to-examine-rio-tinto-whistleblower-claims-over-oyu-tolgoi-ft/


Odey’s scrutiny of Oyu Tolgoi is led by Henry Steel, a former executive assistant to Rio Tinto’s chief financial officer in 2011.

The fund said the Mongolian government has $8.3bn of loans outstanding to Turquoise Hill, which is in the form of $7bn of shareholder loans to Oyu Tolgoi and $1.3bn to state-owned oil and gas exploration company Erdenes.

“Given the size of the existing loans that outstand between Turquoise Hill and the Mongolian Government, it is Odey’s belief that dividends will never flow from Oyu Tolgoi to its shareholders, effectively rendering the Mongolian Government’s equity stake in Oyu Tolgoi worthless,” Odey said.

“As such, Odey believes Rio Tinto should remove its project finance package at Oyu Tolgoi altogether, and that Turquoise Hill’s failure to deliver the Oyu Tolgoi project on time should be “met with accountability”.

In April, the US hedge fund Pentwater Capital also demanded a shakeup at the Oyu Tolgoi operation over what it claimed was “a massive devaluation” of the asset.

Rio Tinto declined to comment.

Midday Wednesday, Turquoise Hill’s stock was down 8% on the NYSE. The company has a $1.98 billion market capitalization.

ICMM provides update on initiative for cleaner, safer mining vehicles Published by Jessica Casey, Editorial Assistant

THE INNOVATION for Cleaner, Safer Vehicles (ICSV) initiative – a supply chain collaboration

between the International Council on Mining and Metals (ICMM) and original equipment manufacturers (OEMs) – has made significant progress towards understanding what is needed to transform today’s fleet of mining vehicles into tomorrow’s new generation of cleaner, safer vehicles, members of its CEO Advisory Group recently announced at IMARC Online.

The ambitions of the ICSV initiative are to introduce greenhouse gas emission-free surface mining vehicles by 2040, minimise the operational impact of diesel exhaust by 2025 and make vehicle collision avoidance technology available to mining companies by 2025. 2 years on from announcing these ambitions, eight new OEMs have joined the initiative taking the number of participating OEMs to 19. ICMM members, representing approximately 30% of the global metals market with over 650 assets, have undertaken assessments to establish a clearer view of the progress made at site level towards each ambition. These assessments indicate that ICMM members are generally at early stages of maturity in the journey, and show what progress will look like for each ambition.

This significant representation of industry can speak with an aligned voice, on aligned objectives with OEMs and third-party technology providers. In its first 2 years,...

https://www.mining.com/rio-tinto-grapples-with-fresh-investor-revolt-over-mongolia-mine/

https://www.mining.com/rio-tinto-grapples-with-fresh-investor-revolt-over-mongolia-mine/

https://www.globalminingreview.com/team/jessica.casey/


In its first 2 years, the ICSV initiative has achieved the critical step of sending strong signals to OEMs and third-party technology providers on their requirements and on what is needed to accelerate development and adoption of technology across the industry.

The initiative is led by a CEO Advisory Group comprising each leader of BHP, Anglo American, Gold Fields, Caterpillar, Komatsu and Sandvik, several members of which recently spoke to a global audience at IMARC about the unique model of collaboration.

Nick Holland, Chief Executive, Gold Fields and Chair of the CEO Advisory Group, said: “There is a critical need to advance work on cleaner, safer vehicles in mining, which will have important health and safety benefits and contribute towards the pressing need of decarbonising the mining industry. It is recognised that there are measures we can implement now, but other, more impactful, interventions are reliant on technology pathways that are still evolving. This will undoubtedly take time, but the industry’s collaboration with OEMs, through the ICMM, is critical as we look for these long-term, sustainable and integrated solutions.”

Mike Henry, Chief Executive, BHP, commented: “Safer, cleaner mining equipment is important for our people and the world. No one party can tackle this on their own though. The ICSV initiative brings together equipment manufacturers and ICMM members to accelerate the innovations required to improve equipment safety and reduce emissions. This is a great example of the collaborative industry-level effort that can help bring about the scale and pace of change that is needed.”

Denise Johnson, Group President, Caterpillar, added: “Caterpillar is committed to helping customers operate safely and sustainably, and the ICSV initiative is helping us to collaborate even more closely with the mining industry in these important areas. Its progress to date has helped to form a shared understanding of where the industry is on its journey and demonstrates that by working together we can more quickly accelerate the pace of change.”

Tom Butler, CEO, ICMM, concluded: “Partnership and collaboration fuels long-term sustainable development, and is crucial to addressing some of the mining industry’s biggest sustainability challenges. Progress made on the ICSV initiative has been building the widespread confidence needed to accelerate the level of innovation investment required to scale up commercial solutions. The initiative will benefit the entire industry and is open to all OEMs who would like to join.”

ICMM has developed tools to support the industry, OEMs and third party technology providers to meet the initiative’s ambitions. These tools include an ICSV Knowledge Hub that facilitates knowledge-sharing of industry innovations, provides technical and practical resources including case studies, standards, regulations and a technology and solutions database. Additionally, a set of ‘maturity frameworks’ that help to map, motivate and measure progress against the ambitions have been published, with the intention to stimulate conversations within companies that drive thinking, decision making and action.

In 2021, ICMM’s company members will focus on integrating the initiative’s goals into their corporate planning processes, allocating internal resources and effectively leveraging external resources such as synergies with other industry initiatives and collaboration between member companies.

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TABLE OF CONTENTS...kini masih dalam tahap studi kelayakan dan ditargetkan sudah ada kesimpulan investasinya pada akhir 2021. Proyek pertama adalah fasilitas pemrosesan RKEF di …