TABLE OF CONTENTS. No. Title Media Source Page

(1)

Daily News Update Page 1

Sekretaris Perusahaan TINS, Abdullah Umar mengatakan, selama sembilan bulan pertama tahun ini, TINS mengalami dua kendala dalam produksi. Pertama, pandemi Covid-19 yang masih berlangsung meng- hambat mobilitas mitra. "Lalu, kedua, juga masih adanya masalah klasik yaitu penambangan ilegal," ujar Abdullah di Jakarta, Kamis (11/11).

Ia menyebutkan, aktivitas penambangan ilegal terjadi khususnya pada penambangan di darat. Akibatnya, terjadi gap di lapangan.

Hingga kuratal III-2021, realiasisai produksi bijih timah mencapai 17.929 ton di akhir September 2021. Sebanyak 56%

berasal dari penambangan di laut dan 44%

dari darat.

Hingga tutup tahun, manajemen TINS memproyeksikan produksi hingga tutup tahun berkisar 24.000 ton. "Namun, kami masih akan terus mengupayakan tetap bisa mencapai 30.000 ton," tambahnya.

Berbanding lurus dengan produksi bijih timah, produksi logam timah mencapai 19.120 ton per September 2021. Pen- capaian itu turun 49% dibandingkan periode sama tahun lalu sebanyak 37.588 ton karena masalah yang sama.

(4)

For your information, Timah has two mining business permit areas (IUP) in the sea, namely in the Bangka Sea covering an area of 139,663 hectares and in the Karimun-Kundur Sea an area of 45,009 hectares.

Meanwhile, the total area of IUP on land reaches 288,716 hectares. The land IUP area is spread over seven regions, namely Bangka, West Bangka, Central Bangka, South Bangka, Belitung, East Belitung, and across districts.

Until September 2021, Abdullah said, TINS still has reserves of 300,000 tons. Until that period, the company has also recovered resources of 28,000 tons and by the end of the year the company is targeting resources of 50,000 tons.

With illegal mining still rampant, Timah hopes for the new Minerba Law. "So that in 2022 production will be more stable," he said.

Despite the decline in production, until the third quarter of 2021 TINS managed to turn the net loss into a net profit of Rp 612.04 billion. The main drivers are the increase in world tin prices and the efficiency of the company's operational costs.

In the first nine months of this year, the average price of LME tin was US$ 30,550 per tonne, with the highest level of US$

37,600 per tonne and the lowest level of US$ 20,965 per tonne.

Sekedar informasi, Timah memiliki dua wilayah izin usaha pertambangan (IUP) di laut yaitu di Laut Bangka seluas 139.663 hektar dan di Laut Karimun-Kundur seluas 45.009 hektar.

Sementara, jumlah luas IUP di darat mencapai 288,716 hektar. Luas IUP darat ini tersebar di tujuh wilayah yaitu Bangka, Bangka Barat, Bangka Tengah, Bangka Selatan, Belitung, Belitung Timur, dan lintas kabupaten.

Hingga September 2021, Abdullah bilang, TINS masih memiliki cadangan sebesar 300.000 ton. Hingga periode tersebut, perusahaan juga telah menemukan kembali sumber daya sebesar 28.000 ton dan hingga tutup tahun perseroan me- nargetkan sumber daya sebesar 50.000 ton.

Dengan masih maraknya penambangan ilegal, Timah berharap terhadap UU Minerba yang baru. "Sehingga pada 2022 produksi menjadi lebih stabil," sebutnya.

Kendati produksi turun, hingga kuartal III- 2021 TINS berhasil membalikan rugi bersih menjadi laba bersih sebesar Rp 612,04 miliar. Pendorong utamanya karena kenaikan harga timah dunia dan efisiensi biaya operasional perusahaan.

Pada periode sembilan bulan pertama tahun ini, harga rata-rata logam timah LME sebesar US$ 30.550 per ton, dengan level tertinggi US$ 37.600 per ton dan di level terendah US$ 20.965 per ton.

(5)

Third Quarter/2021, Indo Tambangraya (ITMG) Profit

Soars 602 Percent

Author: Mutiara Nabila

T

HE COAL mining company PT Indo Tambangraya Megah (ITMG) recorded a significant profit increase throughout 2021 to the third quarter of 2021.

Based on the company's financial report, quoted on Thursday (11/11/2021) up to the third quarter of 2021, the company recorded a net income of US$1.32 billion, up from the previous year's US$871.88 million or around 51.40 percent.

Then, the company's gross profit rose to US$531.04 million from the previous year's US$139.83 million or an increase of about 279.77 percent. Furthermore, profit for the period rose to US$271.48 million from the previous year at US$38.63 million or an increase of around 602.76%.

In addition, comprehensive income for the period rose to US$204.27 million from the previous year at US$26.28 million or an increase of around 677.28 percent.

In the capital market, ITMG shares today moved down 700 points or 3.14 percent to 21,575. This issuer with a market capitalization of Rp 24.38 trillion recorded purchases by foreigners of Rp 13.04 billion.

Meanwhile, year-on-year, ITMG's share price has managed to increase by 166.36 percent. Meanwhile, during the current year (year to date), the price rose 55.78 percent. Editor : Aprianto Cahyo Nugroho

Kuartal III/2021, Laba Indo Tambangraya (ITMG) Melambung 602 Persen

E

MITEN tambang batu bara PT Indo Tambangraya Megah (ITMG) mencatatkan kenaikan laba yang signifikan sepanjang 2021 hingga kuartal III/2021.

Berdasarkan laporan keuangan perusahaan, dikutip Kamis (11/11/2021) sampai dengan kuartal III/2021, perseroan mencatatkan pendapatan bersih US$1,32 miliar, naik dari tahun sebelumnya US$

871,88 juta atau sekitar 51,40 persen.

Kemudian, laba kotor perusahaan naik ke US$531,04 juta dari tahun sebelumnya US$139,83 juta atau naik sekitar 279,77 persen. Selanjutnya, laba periode berjalan naik melonjak ke US$271,48 juta dari tahun sebelumnya di US$38,63 juta atau naik sekitar 602,76 persen.

Selain itu, laba komprehensif periode berjalan naik ke US$204,27 juta dari tahun sebelumnya di US$26,28 juta atau naik sekitar 677,28 persen.

Di pasar modal, saham ITMG hari ini bergerak turun 700 poin atau 3,14 persen ke 21.575. Emiten dengan kapitalisasi pasar senilai Rp24,38 triliun ini mencatatkan pembelian oleh asing senilai Rp13,04 miliar.

Sementara itu, dilihat secara tahunan (year-on year) harga saham ITMG sudah berhasil naik 166,36 persen. Adapun, selama tahun berjalan (year to date), harganya naik 55,78 persen. Editor : Aprianto Cahyo Nugroho

(6)

Hey Coal, the 'Apocalypse' Is Near!

Hidayat Setiaji, CNBC Indonesia

C

OAL prices fell again. What is the cause this time?

Yesterday, the price of coal on the Newcastle (Australia) ICE market closed at US$ 149.66/ton. Down 0.2% from the previous day.

Coal prices are undergoing a bad trend. In the past month, the price fell 41.88% on a point-to-point basis.

The Climate Conference in Glasgow (Scotland) continues to bring bad news for coal. The United States (US) and China, the world's two largest economies, have agreed to work together to tackle climate change.

One of them is by reducing carbon dioxide emissions through reducing the use of coal gradually and protecting forests.

John Kerry and Xie Zhenhua, who are US and China envoys, respectively, announced the deal on the sidelines of the Glasgow conference. "Together, we want the COP26 conference to be a success with ambition.

Every step counts and we still have a long way to go," Kerry told a news conference.

Under this agreement, China will start reducing coal consumption for five years in 2026-2030. China is also committed to reducing methane gas emissions.

The US and China are not only the largest economies, but also the largest consumers of coal on Planet Earth. When both countries promise...

Wahai Batu Bara, 'Kiamat' Sudah Dekat!

Hidayat Setiaji, CNBC Indonesia

H

ARGA batu bara turun lagi. Kali ini apa penyebabnya?

Kemarin, harga batu bara di pasar ICE Newcastle (Australia) ditutup di US$149,66/

ton. Turun 0,2% dari hari sebelumnya.

Harga batu bara tengah menjalani tren buruk.

Dalam sebulan terakhir, harga ambruk 41,88% secara point-to-point.

Konferensi Iklim di Glasgow (Skotlandia) terus membawa kabar buruk buat batu bara Amerika Serikat (AS) dan China, dua perekonomian terbesar dunia, sepakat bekerja sama dalam mengatasi perubahan iklim.

Salah satunya dengan mengurangi emisi karbondioksida melalui pengurangan penggunaan batu bara secara bertahap dan melindungi hutan.

John Kerry dan Xie Zhenhua, yang masing- masing menjadi utusan AS dan China, meng- umumkan kesepakatan itu di sela-sela konferensi Glasgow. "Bersama, kami ingin agar konferensi COP26 berjalan sukses dengan mengedepankan ambisi. Setiap langkah begitu berarti dan jalan kita masih panjang," kata Kerry dalam sebuah konferensi pers, seperti diberitakan Reuters.

Dalam kesepakatan ini, China akan mulai mengurangi konsumsi batu bara selama lima tahun pada 2026-2030. China juga berkomitmen mengurangi emisi gas metana.

AS dan China tidak hanya perekonomian terbesar, tetapi juga konsumen batu bara terbanyak di Planet Bumi. Saat kedua negara berjanji...

(7)

When both countries promise to reduce the use of coal, it could be the 'doomsday' for the black stone.

The prospect of coal demand will be bleak.

So, it's only natural that prices continue to fall. CNBC INDONESIA RESEARCH TEAM (aji/aji)

Saat kedua negara berjanji bakal mengurangi penggunaan batu bara, maka bisa menjadi 'kiamat' buat si batu hitam.

Prospek permintaan batu bara bakal suram. So, wajar kalau harga turun terus.

TIM RISET CNBC INDONESIA (aji/aji)

Aneka Tambang (ANTM) optimizes production and sales

until the end of the year

Reporter: Ika Puspitasari | Editor: Wahyu T. Rahmawati

P

T ANEKA Tambang Tbk (ANTM) is still focused on optimizing operations for the remainder of the year.

ANTM's SVP Corporate Secretary Yulan Kustiyan said the company is optimistic that it will be able to record a positive performance at the end of the year in line with the quality of ANTM's nickel commodity products that are in line with market needs. Both the global market for ferronickel commodities and the domestic market for nickel ore commodities.

Currently, ANTM's ferronickel products have markets in India, China, South Korea, and Taiwan, while nickel ore products are absorbed by the domestic market.

Based on the production report in January- September 2021, Antam managed to record an unaudited ferronickel production volume of 19,097 tons of nickel in ferronickel (TNi) with unaudited sales of 18,880 TNi, this value was stable compared to the same period in 2020 of 19,113 TNi.

Aneka Tambang (ANTM) mengoptimalkan produksi dan

penjualan hingg tutup tahun

Reporter: Ika Puspitasari | Editor: Wahyu T. Rahmawati

P

T ANEKA Tambang Tbk (ANTM) masih berfokus untuk mengoptimalkan operasional di sisa akhir tahun ini.

SVP Corporate Secretary ANTM Yulan Kustiyan mengatakan, perusahaan ini optimis mampu kembali mencatatkan kinerja positif pada akhir tahun seiring dengan kualitas produk komoditas nikel ANTM yang sesuai dengan kebutuhan pasar. Baik itu pasar global untuk komoditas feronikel dan pasar domestik untuk komoditas bijih nikel.

Saat ini, produk feronikel ANTM memiliki pasar di India, Tiongkok, Korea Selatan, dan Taiwan sementara untuk produk bijih nikel diserap pasar domestik.

Menilik laporan produksi pada Januari- September 2021, Antam berhasil mem- bukukan volume produksi feronikel unaudited sebesar 19.097 ton nikel dalam feronikel (TNi) dengan tingkat penjualan unaudited mencapai 18.880 TNi, nilai ini terpantau stabil dibandingkan dengan periode yang sama pada tahun 2020 sebanyak 19.113 TNi.

(8)

Meanwhile, based on data in the third quarter of 2021 alone, this mining issuer managed to score a 5% increase in ferronickel sales to 6,812 TNi, compared to the previous year of 6,479 TNi.

Yulan continued, Antam also sees demand growth in line with increasing public awareness in investing in gold as well as growing demand for gold in the domestic market.

"Antam is optimistic that it will be able to achieve the set targets. To support this, ANTAM through the Precious Metals UBPP has adapted the market by implementing an online precious metal transaction system through www.logammulia.com and online chat applications," he explained to Kontan.co .id, Thursday (11/11).

In the first nine months of this year, Antam recorded an unaudited gold sales volume of 19,871 kg or 638,867 troi ounces, an increase of around 34% yoy. In addition, ANTM's gold production level also reached 1,162 kg or 37,359 troy ounces.

Yulan added, ANTAM continues to innovate the sale of Precious Metal gold products by prioritizing the mechanism of online gold sales and buyback transactions.

Through a network of Precious Metal Gold Boutiques spread across 11 cities in Indonesia and exhibitions in several locations, ANTAM carries out operations and sales activities with strict and consistent implementation of health protocols.

In line with ANTAM's strategy to expand the domestic gold market segment, Antam together with its subsidiaries PT Abuki Jaya Stainless Indonesia and PT Hartadinata Abadi Tbk (HRTA) synergized to launch two innovative gold products, namely EmasKITA and Kencana.

Sedangkan, jika berdasarkan data kuartal ketiga 2021 saja, emiten pertambangan ini berhasil mencetak kenaikan penjualan feronikel sebanyak 5% menjadi 6.812 TNi, ketimbang dengan pada tahun sebelumnya dari 6.479 TNi .

Yulan melanjutkan, Antam juga melihat pertumbuhan permintaan seiring dengan meningkatnya kesadaran masyarakat dalam berinvestasi emas serta pertumbuhan permintaan emas di pasar domestik.

"Antam optimis akan mampu mencapai target yang telah ditetapkan. Untuk mendukung hal tersebut, ANTAM melalui UBPP Logam Mulia melakukan adaptasi pasar dengan menerapkan sistem transaksi logam mulia secara online melalui www.logammulia.com dan aplikasi chat online," papar dia kepada Kontan.co.id, Kamis (11/11).

Pada periode sembilan bulan pertama tahun ini, Antam mencatatkan volume penjualan emas unaudited sebesar 19,871 kg atau 638.867 troi ons atau naik sekitar 34% yoy.

Selain itu, tingkat produksi emas ANTM juga mencapai 1.162 kg atau 37.359 troy ons.

Yulan menambahkan, ANTAM terus melakukan inovasi penjualan produk emas Logam Mulia dengan mengedepankan mekanisme transaksi penjualan dan buyback emas secara online. Melalui jaringan Butik Emas Logam Mulia yang tersebar di 11 kota di Indonesia dan kegiatan pameran di bebe- rapa lokasi, ANTAM menjalankan kegiatan operasi dan penjualan dengan penerapan protokol kesehatan yang ketat dan konsisten.

Sejalan dengan strategi ANTAM untuk mem- perluas segmen pasar emas di dalam negeri, Antam bersama entitas anak PT Abuki Jaya Stainless Indonesia dan PT Hartadinata Abadi Tbk (HRTA) bersinergi meluncurkan dua produk emas inovatif, yaitu EmasKITA dan Kencana.

(9)

Regarding the business development project, Antam is currently completing the construction phase of the ferronickel plant construction project in East Halmahera, North Maluku, which has an installed capacity of 13,500 TNi per year. In terms of the downstream development of bauxite commodities, ANTAM is currently focusing on the construction of the Smelter Grade Alumina Refinery (SGAR) factory in Mempawah, West Kalimantan, which was jointly developed with PT Indonesia Asahan Aluminum (Persero) which has a processing capacity of 1 million tonnes of SGAR per year in phase 1.

ANTAM is committed to continuing to focus on the expansion of downstream mineral processing, expanding its reserve and resource base, establishing partner-ships to develop new refined mineral production from existing reserves. In addition, this issuer will further reduce cash costs and improve cost competitive-ness, as well as improve core business performance to increase the company's revenue.

Terkait dengan proyek pengembangan usaha, saat ini Antam sedang menyelesai- kan tahap konstruksi proyek pembangunan pabrik feronikel di Halmahera Timur, Maluku Utara yang memiliki kapasitas terpasang sebesar 13.500 TNi per tahun.

Dalam hal pengembangan hilirisasi komoditas bauksit, saat ini ANTAM terus berfokus dalam pembangunan pabrik Smelter Grade Alumina Refinery (SGAR) di Mem- pawah, Kalimantan Barat, yang dikem- bangkan bersama dengan PT Indonesia Asahan Aluminium (Persero) yang memiliki kapasitas pengolahan sebesar 1 juta ton SGAR per tahun pada tahap 1.

ANTAM berkomitmen akan terus berfokus pada ekspansi pengolahan mineral bersifat hilir, melakukan perluasan basis cadangan dan sumber daya, menjalin kemitraan untuk mengembangkan produksi mineral olahan baru dari cadangan yang ada. Selain itu, emiten ini juga menurunkan lebih lanjut cash cost dan meningkatkan daya saing biaya, serta peningkatan kinerja bisnis inti untuk meningkatkan revenue perusahaan.

PT Timah (TINS) Optimistic of Tin Price to Stay Above US$30,000

A

FTER recording a brilliant performance until the third quarter of this year, PT Timah Tbk. (TINS) is optimistic that the tin price will also remain stable above the current level of US$30,000 per ton, which will drive the company's revenue.

PT Timah's Corporate Secretary Abdullah Umar said that price stability was driven by limited supply, although the demand side was stable.

PT Timah (TINS) Optimistis Harga Timah Tetap di Atas US$30.000

S

ETELAH mencatatkan kinerja cemerlang hingga kuartal ketiga tahun ini, PT Timah Tbk. (TINS) optimistis harga timah juga tetap stabil di atas level US$30.000 per ton seperti sekarang, yang akan menjadi pendorong pendapatan perseroan.

Corporate Secretary PT Timah Abdullah Umar mengatakan bahwa kestabilan harga didorong oleh keterbatasan pasokan, meskipun dari sisi permintaan stabil.

(10)

“Our price is optimistic that it will remain above US$30,000 per tonne until the end of the year. The price of tin may be relatively more stable compared to other commodities, although they are both increasing because the number of players is not too many," he said after a press conference, Thursday (11/11/2021).

Meanwhile, until the third quarter of 2021 this year, the issuer codenamed TINS was able to record a profit surge of up to 340 percent despite declining production.

The economic recovery brought an increase in consumption of tin products such as electronic products and made the demand for tin commodities soar.

Based on the company's financial state- ments for the third quarter of 2021, the company recorded a net profit of Rp. 612 billion, a 340 percent jump from the previous year's loss of Rp. 255 billion.

The Company also recorded a significant increase in profitability with EBITDA achievement up to the third quarter of 2021 of Rp1,813 billion, up 108 percent from the same period the previous year of Rp870 billion, and an EBITDA margin of 18.7 percent compared to the same period last year of Rp. 7.3 percent.

One of the drivers of the company's performance is the average price of LME tin which is currently at US$30,550, with the highest level at US$37,600 and the lowest level at US$20,965.

"Until September 2021, Asia is still the main destination for TINS tin exports with a 53 percent contribution, followed by Europe with 31 percent and America with 11 percent. Meanwhile, the top five destination countries for TINS tin exports are South Korea 18 percent, the Netherlands 17 percent, Japan 16 percent, the United States 11 percent, and Italy 6 percent,” said management.

“Harga kami optimistis bisa tetap di atas US$30.000 per ton sampai akhir tahun.

Harga timah mungkin relatif lebih stabil dibandingkan dengan komoditas lain, meskipun sama-sama naik karena jumlah pemainnya tidak terlalu banyak,” ujarnya usai konferensi pers, Kamis (11/11/2021).

Adapun, sampai dengan kuartal III/2021 tahun ini, emiten bersandi TINS ini mampu mencatatkan lonjakan laba hingga 340 persen meskipun produksinya menurun.

Pulihnya ekonomi membawa peningkatan konsumsi terhadap produk timah seperti produk elektronik dan membuat permintaan atas komoditas timah melesat.

Berdasarkan laporan keuangan perusahaan kuartal III/2021, perseroan mencatatkan laba bersih sebesar Rp612 miliar atau melesat 340 persen dari tahun sebelumnya rugi Rp255 miliar.

Perseroan juga mencatat peningkatan profitabilitas yang signifikan dengan capaian EBITDA sampai dengan kuartal III/2021 sebesar Rp1.813 miliar atau naik 108 persen dari periode yang sama tahun sebelumnya Rp870 miliar, serta EBITDA margin sebesar 18,7 persen dibandingkan periode yang sama di tahun lalu sebesar 7,3 persen.

Salah satu pendorong kinerja perusahaan adalah harga rerata logam timah LME yang saat ini berada di US$30.550, dengan level tertinggi pada US$37.600 dan di level terendah pada US$20.965.

“Sampai dengan September 2021 Asia masih menjadi destinasi utama ekspor timah TINS dengan kontribusi 53 persen, disusul Eropa 31 persen, dan Amerika 11 persen. Adapun, lima besar negara destinasi ekspor timah TINS secara ber- urutan adalah Korea Selatan 18 persen, Belanda 17 persen, Jepang 16 persen Amerika Serikat 11 persen, dan Italia 6 persen,” ungkap manajemen.

(11)

Meanwhile, TINS' tin production up to the third quarter of 2021 reached 17,929 tons, a 48 percent decrease from the same period in the previous year which reached 34,614 tons. In detail, 44 percent came from onshore mining, and 56 percent came from marine mining.

"The decline in tin ore production is still related to the Covid-19 pandemic and the dynamics of tin ore mining on land,"

Abdullah explained.

In addition, sales of tin metal until the end of the third quarter of 2021 reached 19,059 metric tons, down 58 percent from the previous year which reached 45,548 metric tons.

Despite the declining sales volume, the Company recorded an average selling price of tin metal in the third quarter of 2021 at US$30,158 per metric ton, a significant increase of around 79 percent from the previous year of only US$16,832 per metric ton. Editor : Aprianto Cahyo Nugroho

Sementara itu, produksi timah TINS sampai dengan kuartal III/2021 mencapai 17.929 ton atau turun 48 persen dari periode yang sama tahun sebelumnya mencapai 34.614 ton. Perinciannya, sebesar 44 persen berasal dari penambangan darat, dan 56 persen berasal dari penambangan laut.

“Penurunan produksi bijih timah ini masih terkait dengan adanya pandemi Covid-19 dan dinamika penambangan bijih timah di darat,” jelas Abdullah.

Selain itu, penjualan logam timah sampai akhir kuartal III/2021 mencapai 19.059 metrik ton atau turun 58 persen dari tahun sebelumnya mencapai 45.548 metrik ton.

Meskipun volume penjualan menurun, Perseroan mencatatkan harga jual rerata logam timah pada kuartal III/2021 sebesar US$30.158 per metrik ton atau naik secara signifikan sekitar 79 persen dari tahun sebelumnya hanya US$16.832 per metrik ton. Editor : Aprianto Cahyo Nugroho

Underground Mining Boosts Freeport's Production Increase

During the Third Quarter of 2021

Author: Edo Fernando, Editor: Faris Primayudha

D

URING the third quarter of 2021, PT Freeport Indonesia (PTFI) reported an increase in gold and copper ore production, which is claimed to be very significant compared to previous periods.

Tambang Bawah Tanah Dongkrak Kenaikan Produksi

Freeport Sepanjang Kuartal Ketiga 2021

Penulis: Edo Fernando, Editor: Faris Primayudha

S

EPANJANG periode kuartal ketiga tahun 2021, PT Freeport Indonesia (PTFI) me- laporkan adanya kenaikan produksi emas dan juga bijih tembaga, yang diklaim jumlahnya sangat signifikan dibandingkan dengan periode-periode sebelumnya.

(12)

Based on data published by Freeport McMoran, the total value of Indonesian mining production contributed by Freeport Indonesia until the third quarter of this year reached 956 million pounds for copper ore.

This amount increased by 76.05% year-on- year, where in the same period in 2020, the company's total copper ore production was only 543 million pounds.

Then for gold commodities, the total production until the third quarter of 2021 is 968 thousand ounces, an increase of 67.76% year-on-year when compared to the same period last year, which was at the level of 577 thousand ounces.

Meanwhile, the company's copper ore sales data was reported to have reached 946 million pounds, an increase of 82.62% year- on-year. For information, in the third quarter of 2020, the company's copper ore sales amounted to 518 million pounds.

Meanwhile, the average price set in the sale was USD4.21 pen pound, which also increased from last year's level of USD2.79 per pound.

Then, Freeport Indonesia's gold sales reached 957 thousand ounces, an increase of 74.31% year-on-year from last year's 549 thousand ounces. The average price charged for corporate gold is USD1,780 per ounce, which is lower than last year's USD1,810 per ounce.

In its official statement, Freeport Indonesia also said that the driving factor for increasing the company's production performance was supported by optimization of underground mini ng operations.

Berdasarkan data yang diterbitkan Freeport McMoran, besaran nilai produksi tambang Indonesia yang disumbang oleh Freeport Indonesia sampai dengan kuartal ketiga tahun ini, jumlahnya adalah mencapai 956 juta pon untuk bijih tembaga. Jumlah tersebut mengalami kenaikan sebesar 76,05% secara year-on-year, di mana pada periode yang sama tahun 2020 lalu, jumlah produksi bijih tembaga perusahaan hanya sebesar 543 juta pon.

Kemudian untuk komoditas emas, jumlah produksinya sampai dengan kuartal ketiga tahun 2021 adalah sebesar 968 ribu ons, meningkat sebanyak 67,76% secara year-on- year apabila dibandingkan dengan periode yang sama pada tahun lalu, yang angkanya berada di level 577 ribu ons.

Sementara itu, data penjualan bijih tembaga perusahaan dilaporkan mencapai 946 juta pon, yang naik sebesar 82,62% secara year- on-year. Sebagai informasi, pada kuartal ketiga tahun 2020, penjualan bijih tembaga perusahaan adalah sebesar 518 juta pon.

Adapun, besaran rata-rata harga yang ditetapkan dalam penjualan itu adalah USD 4,21 pen pon, yang juga meningkat dari tahun lalu di level USD2,79 per pon.

Lalu untuk penjualan emas Freeport Indonesia diketahui mencapai 957 ribu ons, yang naik sebanyak 74,31% secara year-on- year dari tahun lalu yang jumlahnya hanya sebesar 549 ribu ons. Harga rata-rata yang dikenakan untuk emas perusahaan adalah USD1.780 per ons, di mana jumlah tersebut lebih rendah dibandingkan dengan tahun lalu di angka USD1.810 per ons.

Dalam keterangan resminya tersebut, Freeport Indonesia juga menyampaikan bahwa faktor pendorong meningkatnya kinerja produksi perusahaan ditunjang oleh pengoptimalan operasional tambang bawah tanah.

(13)

Miners complain that the purchase price of nickel in

smelters is still low

Author: Rayful Mudassir

T

HE INDONESIAN Nickel Miners Association (APNI) complains that nickel ore sales transactions to smelters still do not follow the mineral benchmark price (HPM) that has been set even though it has been regulated.

Secretary General of APNI Meidy Katrin Lengkey said that domestic nickel management should receive special attention from the government. The reason is that this is related to nickel trade and state revenue.

Referring to the Minister of EMR No.

11/2020, the holder of a mining business permit (IUP) for mineral production operations and an IUPK for metal mineral production operations that produce nickel ore, must refer to the benchmark price of metallic minerals in selling nickel ore.

APNI mentioned that the smelter has not yet purchased nickel ore from the mining business license holder in accordance with the regulations stipulated based on free on board (FoB). Smelter companies instead buy with a cost in insurance and freight (CIF) system.

The FoB price is the purchase value on the barge. This means that insurance and transportation costs are borne by the buyer.

Meanwhile, CIF charges the seller with transportation and insurance costs.

“In its implementation, the miners bear a lot of shipping costs. This means that the invoice submitted is not in accordance with the regulations," she told Bisnis, Thursday (11/11/2021).

Penambang Keluhkan Harga Beli Nikel di Smelter Masih

Rendah

Author: Rayful Mudassir

A

SOSIASI Penambang Nikel Indonesia (APNI) mengeluhkan transaksi penjualan bijih nikel ke smelter masih belum meng- ikuti harga patokan mineral (HPM) yang ditetapkan meski telah diregulasi.

Sekretaris Jenderal APNI Meidy Katrin Lengkey mengatakan bahwa tata kelola nikel domestik harus mendapat perhatian khusus dari pemerintah. Pasalnya hal ini berkaitan dengan perdagangan nikel hingga pendapatan negara.

Mengacu pada Permen ESDM No 11/2020 pemegang izin usaha pertambangan (IUP) operasi produksi mineral dan IUPK operasi produksi mineral logam yang memproduksi bijih nikel, wajib mengacu pada harga patokan mineral logam dalam melakukan penjualan bijih nikel.

APNI menyinggung pihak smelter belum membeli nikel ore dari pemegang izin usaha pertambangan sesuai dengan reulasi yang ditetapkan berdasarkan free on board (FoB). Perusahaan smelter malah membeli dengan sistem cost in insurance and freight (CIF).

Harga FoB merupakan nilai beli di atas kapal tongkang. Artinya biaya asuransi dan angkutan ditanggung pembeli. Sementara itu, CIF membebankan biaya angkutan dan asuransi kepada penjual.

“Dalam pelaksanaanya, para penambang banyak menanggung ongkos kirim. Artinya dengan invoice yang diajukan menjadi tidak sesuai peraturan,” katanya kepada Bisnis, Kamis (11/11/2021).

(14)

In the regulation, the price of graded nickel ore is 1.7 percent, valued at US$27.86 per wet metric ton, 1.8 percent grade nickel ore at US$31.13 per wet metric ton and 1.9 percent grade nickel ore at US$34. 59 per wet metric ton.

Meanwhile in the world market, the price of nickel continues to increase in line with the world's demand for this commodity. Nickel prices reached US$19,880 per tonne on Wednesday (11/10/2021), up 1.94 percent from the previous close of trading.

APNI admits that it has sent a letter to the government but has not yet received a response. This problem has actually been going on for a long time and has not been resolved until now.

On the other hand, Meidy pushed for sanctions against the smelter industry for violating the nickel transaction rules. She said that transactions using the CIF method will have the effect of decreasing the profits received by miners.

She added that the demand for nickel continues to improve, including for low grade nickel ore. However, the price demanded by the smelter industry is outside the existing regulations.

"APNI appeals to the government for the regulation of the EMR Ministerial Regulation regarding the nickel ore trade system in accordance with the rules," he said.

Separately, the Director General of Mineral and Coal at the Ministry of EMR, Ridwan Djamaluddin, said that the available nickel resources are 13.7 billion tons of ore with total proven reserves and an estimated 4.6 billion tons of ore. Currently there are 19 smelters with a target of 4 smelters being built in 2021.

Dalam aturannya, harga bijih nikel kadar sebesar 1,7 persen, dihargai US$27,86 per wet metrik ton, bijih nikel kadar 1,8 persen US$31,13 per wet metrik ton dan bijih nikel kadar 1,9 persen US$ 34,59 per wet metrik ton.

Sementara itu di pasar dunia, harga nikel terus mengalami peningkatan seiring kebutuhan dunia akan komoditas ini. Harga nikel mencapai US$19.880 per ton pada Rabu (10/11/2021), atau naik 1,94 persen dari penutupan perdagangan sebelumnya.

APNI mengaku telah berkirim surat dengan pemerintah tetapi hingga kini belum mendapat tanggapan. Persoalan ini sejatinya telah terjadi sejak lama dan belum terselesaikan hingga kini.

Di sisi lain, Meidy mendorong adanya sanksi kepada industri smelter yang melanggar aturan transaksi nikel. Dia menyebut transaksi dengan metode CIF ini akan memberi dampak menurunnya keuntungan yang diterima penambang.

Ia menambahkan permintaan terhadap nikel terus membaik termasuk untuk bijin nikel kadar rendah. Kendati begitu, harga yang diminta oleh industri smelter di luar aturan yang ada.

“APNI memohon kepada pemerintah aturan Permen ESDM ini mengenai tata niaga bijih nikel betul-betul sesuai aturan,”

katanya.

Secara terpisah, Dirjen Minerba Kementerian ESDM Ridwan Djamaluddin menyebut sumber daya nikel yang masih tersedia 13,7 miliar ton bijih dengan total cadangan terbukti dan terkira 4,6 miliar ton bijih. Saat ini terdapat 19 smelter dengan target 4 smelter terbangun pada 2021.

(15)

"In 2024, 30 nickel smelters will be built with a total investment plan of more than US$ 8 billion," he said during an RDP with Commission VII DPR RI, Wednesday (11/11/2021).

Based on ministry data, the production of nickel pig iron has so far reached 628,243 tons or 69.83 percent of this year's target of 901,080 tons. Meanwhile, sales of nickel pig iron were only 73,562 tons or 8.17% of the target.

Furthermore, ferrous nickel has produced 1.23 million tons or 58.82 percent of the planned 2.10 million tons. Meanwhile, new ferronickel sales were 812,357 tons or 38.60 percent of the target. In addition, 68,173 tons of nickel matte have been produced or 87.40 percent of the target of 78,000 tons. Sales of this type of nickel have also reached 55,410 tons or 71.03 percent of the target.

Bisnis has sent a short message to the Special Staff of the Minister of EMR Irwandy Arif to respond to this. But until this news was revealed, there has been no response from the person concerned. Editor : Amanda Kusumawardhani

“Pada tahun 2024, akan terbangun 30 smelter nikel dengan total rencana investasi lebih US$8 miliar,” katanya saat RDP dengan Komisi VII DPR RI, Rabu (11/11/2021).

Berdasarkan data kementerian, produksi nikel pig iron hingga kini telah mencapai 628.243 ton atau 69,83 persen dari target tahun ini 901,080 ton. Sedangkan penjualan nikel pig iron baru 73.562 ton atau 8,17 persen dari target.

Selanjutnya ferro nikel telah diproduksi 1,23 juta ton atau 58,82 persen dari rencana 2,10 juta ton. Adapun penjualan feronikel baru 812.357 ton atau 38,60 persen dari target. Selain itu, nikel matte telah diproduksi 68.173 ton atau 87,40 persen dari target 78.000 ton. Penjualan nikel jenis ini juga telah mencapai 55.410 ton atau 71,03 persen dari target.

Bisnis telah mengirimkan pesan singkat kepada Staf Khusus Menteri ESDM Irwandy Arif untuk menanggapi hal ini. Tetapi hingga berita ini diturunkan, belum ada respons dari yang bersangkutan. Editor : Amanda Kusumawardhani

Timah (TINS) absorbs capex of around Rp 500 billion until the

third quarter of 2021

Tendi Mahadi

P

T TIMAH Tbk (TINS) will focus its capital expenditures in the fourth quarter for the completion of the tin smelter construction.

TINS's Director of Finance and Risk Management, Wibisono, said that until the third quarter of 2021, the company has absorbed...

Timah (TINS) serap capex sekitar Rp 500 miliar hingga

kuartal III 2021

Tendi Mahadi

P

T TIMAH Tbk (TINS) akan fokuskan belanja modal di kuartal IV untuk penye- lesaian pembangunan smelter timah.

Direktur Keuangan dan Manajemen Risiko TINS, Wibisono menuturkan hingga kuartal III-2021 perusahaan telah menyerap...

(16)

the company has absorbed a capital expenditure (capex) budget of around Rp 500 billion. Now, in the fourth quarter, the company will focus its capex on the completion of the tin smelter construction which is targeted to be completed next year.

"The fourth quarter will focus on ausmelt smelters because the budget reaches Rp 1.2 trillion," he said in Jakarta, Thursday (11/11).

Based on Kontan.co.id's records, TINS allocates capex of around Rp 1.9 trillion which will come from internal cash and the use of long term financing. Of the total capex, around 94% is for TINS investment costs, while 6% is allocated to subsidiaries.

TINS Corporate Secretary Abdullah Umar added that until the end of the year he believes the tin price will remain at the level of US$ 30 thousand per ton.

According to him, this is driven by the price of tin which tends to be stable and there are not many tin players.

So, with this projection next year, Timah projects that he will budget for his capex similar to this year. The reason is that the company plans to add 2 more ships to boost production. Unfortunately, the management has not yet decided on the target for next year.

Until the third quarter of 2021, tin ore production reached 17,929 tons, down 48%

from the first nine months of 2020 of 34,614 tons. Meanwhile, production from western mining accounts for 44% and mining from the sea by 56%.

Directly proportional to tin ore production, tin metal production reached 19,120 metric tons, down 49% from the same period last year of 37,588 metric tons. The decline in tin ore production is still related to the Covid-19 pandemic and the dynamics of onshore tin ore mining.

perusahaan telah meny erap anggaran belanja modal atawa capital expenditure (capex) sekitar Rp 500 miliar. Nah, pada kuartal IV ini perusahaan akan memfokus- kan capex untuk penyelesaian pembangunan smelter timah yang ditargetkan rampung tahun depan.

"Kuartal IV akan difokuskan pada smelter ausmelt karena anggaran mencapai Rp 1,2 triliun," ujarnya di Jakarta, Kamis (11/11).

Berdasarkan catatan Kontan.co.id, TINS mengalokasikan capex sekitar Rp 1,9 triliun yang akan berasal dari kas internal dan penggunaan long term financing. Dari total capex itu, sekitar 94% untuk biaya investasi TINS, sedangkan 6% dialokasikan untuk entitas anak usaha.

Sekretaris Perusahaan TINS, Abdullah Umar menambahkan, hingga tutup tahun ia meyakini harga timah akan bertahan di level US$ 30 ribu per ton. Menurutnya, hal itu didorong dari harga timah yang cenderung stabil dan juga pemain timah tidak banyak.

Nah, dengan proyeksi tersebut tahun depan sendiri Timah memproyeksikan akan meng- anggarkan capex serupa dengan tahun ini.

Sebabnya, perusahaan berencana menambah 2 kapal guna menggenjot produksi. Sayang- nya, terkait target tahun depan manajemen masih belum memutuskan.

Hingga kuartal III-2021, produksi bijih timah mencapai 17.929 ton atau turun 48% dari periode sembilan bulan pertama tahun 2020 sebesar 34.614 ton. Adapun, produksi dari penambangan barat berkontribusi sebesar 44% dan penambangan dari laut sebesar 56%.

Berbanding lurus dengan produksi bijih timah, produksi logam timah mencapai 19.120 metrik ton atau turun 49% dari periode yang sama tahun lalu sebesar 37.588 metrik ton. Penurunan produksi bijih timah ini masih terkait dengan adanya pandemi Covid-19 dan dinamika penambangan bijih timah di darat.

(17)

Contacted separately, MNC Sekuritas analyst, Herditya Wicaksana, saw that TINS's own stock movement was currently at the beginning of its uptrend phase. "It can be seen from the movement of the Stochastic and MACD that there is still a chance to move higher," he said.

He saw TINS support at the level of Rp.

1,525 and resistance at the level of Rp.

1,765. On Thursday (11/11) trading, TINS's share price closed up 15 points or 0.95% to the level of Rp 1,600 per share.

Dihubungi terpisah, Analis MNC Sekuritas, Herditya Wicaksana melihat pergerakan saham TINS sendiri saat ini sedang berada pada awal fase uptrend-nya. "Nampak dari pergerakan Stochastic dan MACD yang masih berpeluang bergerak menguat,"

sebutnya.

Dia melihat support TINS berada di level Rp 1.525 dan resistance di level Rp 1.765. Pada perdagangan Kamis, (11/11) harga saham TINS ditutup menguat 15 poin atau 0,95%

ke level Rp 1.600 per saham.

Leaving Coal, Get Ready for Indonesia to Lose Tens of

Trillions

Anisatul Umah, CNBC Indonesia

T

HE INDONESIAN government is not playing games to immediately get out of the coal business in order to pursue carbon neutral or net zero emissions in 2060 or sooner.

Until 2060, coal consumption is estimated to decrease by 175-190 million tons per year or equivalent to Rp. 25 trillion per year. This was conveyed by the Chairman of the Indonesian Mining Experts Association (Perhapi) Rizal Kasli.

He said that the estimated drop in coal consumption was because Coal Power Plants (PLTU) were increasingly being abandoned, so that it also had an impact on reducing state revenues from the coal mining sector.

Therefore, according to him, the government is considered to have to accelerate the downstreaming of coal to replace the lost market.

Tinggalkan Batu Bara, Siap- Siap RI Kehilangan Puluhan

Triliun

Anisatul Umah, CNBC Indonesia

P

EMERINTAH Indonesia tidak main-main untuk segera keluar dari bisnis batubara demi mengejar netral karbon atau net zero emission pada 2060 mendatang atau lebih cepat.

Sampai 2060 diperkirakan konsumsi batu bara akan berkurang 175-190 juta ton per tahun atau setara dengan Rp 25 triliun per tahun. Hal ini disampaikan oleh Ketua Umum Perhimpunan Ahli Pertambangan Indonesia (Perhapi) Rizal Kasli.

Dia mengatakan, perkiraan anjloknya konsumsi batu bara ini karena Pembangkit Listrik Batu Bara (PLTU) semakin ditinggal- kan, sehingga juga berdampak pada pengurangan penerimaan negara dari sektor pertambangan batu bara.

Oleh karena itu, menurutnya pemerintah dinilai harus memacu hilirisasi batu bara untuk menggantikan hilangnya pasar.

(18)

"Until 2060, it is estimated that coal use will decrease by 175-190 million tons or around Rp. 25 trillion. The government must spur the growth of coal down-streaming," he told CNBC Indonesia, quoted Thursday (11/11/2021).

He explained that domestic coal consumption globally is still small. Based on BP Statistical Review 2021 data, Indonesia's coal consumption is only about 2.2% of the total share of world coal consumption, much lower than China which has a share of 54.3%, India 11.6%, and the USA 6. 1%.

"Indonesia is still far lower in its use of coal," he said.

As a substitute for this loss of revenue from the coal sector, according to him, the government should look for an alternative source of Non-Tax State Revenue (PNBP) from other industries to support national development.

"This will also have an impact on reducing job opportunities, both direct and indirect workers, from coal mining. This must find a way out," he added.

Previously, Muhammad Wafid, Director of Mineral and Coal Revenue at the Directorate General of Mineral and Coal (Ditjen Minerba) of the Ministry of Energy and Mineral Resources (MEMR) said that PNBP in the mining sector was dominated by coal.

"God willing, (PNBP exceeds the target), coal is approximately 75-80% of the total PNBP," he explained.

This year the PNBP of mineral and coal mining has reached a record high in at least the last 10 years. As of November 11, 2021, PNBP Minerba, based on data from the Ministry of EMR Minerba One Data Indonesia (MODI), was recorded at Rp 59.62 trillion. This amount is equivalent to 152% of the target set at the beginning of the year of Rp 39.10 trillion.

"Sampai 2060 diperkirakan pemakaian batu bara akan berkurang sebesar 175-190 juta ton atau sekitar Rp 25 triliun. Pemerintah harus memacu tumbuhnya hilirisasi batu bara,"

ungkapnya kepada CNBC Indonesia, dikutip Kamis (11/11/2021).

Dia menjelaskan, konsumsi batu bara dalam negeri secara global masih kecil. Berdasarkan data BP Statistical Review 2021, konsumsi batu bara Indonesia baru sekitar 2,2% dari total porsi konsumsi batu bara dunia, jauh lebih rendah jika dibandingkan dengan China yang memiliki porsi 54,3%, India 11,6%, dan USA 6,1%.

"Indonesia masih jauh lebih rendah pemakaian batu baranya," ujarnya.

Sebagai pengganti kehilangan pendapatan dari sektor batu bara ini, maka menurutnya pemerintah harus mencari alternatif pengganti sumber Penerimaan Negara Bukan Pajak (PNBP) dari industri lainnya untuk mendukung pembangunan nasional.

"Ini juga akan berdampak kepada pengurangan lapangan kerja, baik tenaga kerja langsung atau tidak langsung, dari pertambangan batu bara. Ini harus dicarikan jalan keluarnya," imbuhnya.

Sebelumnya, Muhammad Wafid, Direktur Penerimaan Mineral dan Batu Bara Direktorat Jenderal Mineral dan Batu Bara (Ditjen Minerba) Kementerian Energi dan Sumber Daya Mineral (ESDM) mengatakan PNBP di sektor pertambangan didominasi oleh batu bara.

"Insya Allah bisa (PNBP melebihi target), batu baranya kira-kira 75-80% dari total PNBP,"

paparnya.

Tahun ini PNBP pertambangan mineral dan batu bara telah mencapai rekor tertinggi setidaknya dalam 10 tahun terakhir. Hingga 11 November 2021, PNBP Minerba, berdasarkan data Minerba One Data Indonesia (MODI) Kementerian ESDM, tercatat mencapai Rp 59,62 triliun. Jumlah ini setara dengan 152%

dari target yang ditetapkan pada awal tahun sebesar Rp 39,10 triliun.

(19)

The national coal production target in 2021 is 625 million tons, with domestic absorption targeted at 137.5 million tons.

In 2020, Indonesia produced around 558 million tons of coal, of which domestic coal consumption only reached around 132 million tons. This means that coal consumption for domestic purposes is around 24% of the total national coal production.

The following are the details of PNBP Minerba sector in the last 10 years based on MODI data:

1. In 2012 amounted to Rp 24.01 trillion 2. In 2013 amounted to Rp 28.41 trillion 3. In 2014 amounted to Rp 35.47 trillion 4. In 2015 amounted to Rp 29.63 trillion 5. In 2016 amounted to Rp 27.15 trillion 6. In 2017 amounted to Rp 40.62 trillion 7. In 2018 amounted to Rp 49.63 trillion 8. In 2019 amounted to Rp 44.92 trillion 9. In 2020 amounted to Rp 34.65 trillion 10. In 2021 amounted to Rp 59.62 trillion (last data as of November 11, 2021). (wia)

Adapun target produksi batu bara nasional pada 2021 ini sebesar 625 juta ton, dengan penyerapan domestik ditargetkan sebesar 137,5 juta ton.

Pada 2020 lalu Indonesia memproduksi sekitar 558 juta ton batu bara, di mana konsumsi batu bara di dalam negeri hanya mencapai sekitar 132 juta ton. Ini artinya, konsumsi batu bara untuk kepentingan domestik sekitar 24% dari total produksi batu bara nasional.

Berikut Rincian PNBP sektor Minerba dalam 10 tahun terakhir berdasarkan data MODI:

1. Tahun 2012 sebesar Rp 24,01 triliun 2. Tahun 2013 sebesar Rp 28,41 triliun 3. Tahun 2014 sebesar Rp 35,47 triliun 4. Tahun 2015 sebesar Rp 29,63 triliun 5. Tahun 2016 sebesar Rp 27,15 triliun 6. Tahun 2017 sebesar Rp 40,62 triliun 7. Tahun 2018 sebesar Rp 49,63 triliun 8. Tahun 2019 sebesar Rp 44,92 triliun 9. Tahun 2020 sebesar Rp 34,65 triliun 10. Tahun 2021 sebesar Rp 59,62 triliun (data terakhir per 11 November 2021).

(wia)

Gold production in China to grow 5% in 2021 while demand is expected to surge 32% - report

By Vladimir Basov

A

CCORDING to GlobalData, gold production in China, the world’s largest gold producer and consumer, is expected to grow by 4.7% in 2021, against a 3.9% fall reported in 2020.

The country’s production decline in 2020 was mainly due to the depletion of its gold resources and strict environmental regulations imposed on gold and other minerals which has led to the closure of many small and inefficient mines, GlobalData explained.

Between 2021-2025, the production of gold in China is expected to expand at a CAGR of 1.1%, supported by number of upcoming projects which are expected to be operational during the period.

(20)

In terms of consumption, GlobalData noted that China is expected to post a strong growth of 31.9% in 2021, against a sharp fall of 17.7% in 2020.

In 2020, China’s gold imports were 78.5% down due to regulatory restrictions and the impact of COVID-19, which led to lower demand for gold jewelry, mainly in the first half of 2020, the authors of the report said.

BHP hungry for more nickel, copper

Tom Parker

B

HP is looking at investing in additional early-stage development projects as the company aims to grow its copper and nickel portfolio.

BHP chief executive officer Mike Henry spoke at the company’s annual general meeting on Thursday, suggesting the success of its current copper and nickel projects should inspire more developments to follow.

“In copper, we have some solid growth ahead over the next five years, thanks to the recently commissioned Spence growth project (in Chile), improving grades at Escondida (in Chile) and more reliable production out of Olympic Dam (in South Australia),” Henry said.

“We have increased our exploration effort and have work underway in Ecuador, Peru, Chile, Mexico, the US and Australia.”

In October, BHP executed an exploration joint venture with Red Tiger Resources to bring the Intercept Hill copper project, which borders Oak Dam in South Australia, into production.

In May, BHP exercised a farm-in agreement for the early-stage Elliott copper project in the Northern Territory, entering into a joint venture with Encounter Resources.

Henry said BHP has invested more than $US5 billion ($6.86 billion) in development, growth and exploration across its business.

BHP’s further nickel endeavours is seeing it make a play for Canadian nickel miner Noront Resources, with the early-stage Eagle’s Nest nickel and copper deposit in northern Ontario’s

‘Ring of Fire’ at stake.

With BHP and Noront Resources currently in discussions regarding the company’s $C0.75 ($0.82) per share play for Noront, BHP extended the deadline of the offer from November 16 until November 30.

Henry also highlighted BHP’s decarbonisation efforts, fronted by the company’s recently released Climate Transition Action Plan.

“Within this plan we outline our continuing commitment to net-zero operational emissions by no later than 2050, and our mid-term target of at least 30 per cent emissions reduction by 2030 on 2020 levels,” Henry said.

(21)

“We’ve been taking action on this front for over two decades now and our signing of multiple renewable energy contracts recently will help accelerate this reduction in the near term.”

It comes after BHP agreed to sell its 80 per cent share in BHP Mitsui Coal (BMC) to Stanmore Resources earlier this week, offloading the Poitrel and South Walker Creek metallurgical coal mines, plus Red Mountain Infrastructure, and the Wards Well development.

China’s industrial silver demand to exceed all-time high in 2021; gold consumption to jump 40% - report

By Vladimir Basov

M

ETALS Focus, a leading independent precious metals research consultancy, reported yesterday that it expects over a 40% increase in gold demand in China this year, while domestic industrial silver demand to exceed all-time high in 2021.

Metals Focus said that gold jewellery sales in China remained encouraging during the week- long National Day holiday. This followed a strong Q3 performance when gold jewellery consumption grew (+32% y/y) for the third consecutive quarter to almost match the Q3.19 total.

Growth in fabrication (+30%) came in slightly lower, due to weaker export orders as well as power cut policies (as some jewellery manufacturers had to reduce operating times), the consultancy noted.

“This buoyant demand has seen the SGE price continue to trade at a modest premium to loco- London prices, which has in turn led to strong bullion shipments to mainland China in recent months,” Metals Focus pointed out.

On top of a low base effect, the growth in gold jewellery sales over the last couple of months also reflects weaker gold prices, which helped to boost demand for heavier plain pieces, the authors of the report noted.

“Buoyant wedding related purchases and gold’s appeal as a store of value have also contributed to this outcome,” the report found.

Going forward, Metals Focus said that many of these positive factors are likely to remain in place, though power supply issues and restrictive measures to curb the spread of COVID during the winter season may restrain the pace of growth in jewellery sales in the coming weeks.

Even so, Metals Focus said it still expects over a 40% increase in gold demand in China this year (which is modestly lower than the 2019 annual total), with further gains projected for 2022.

As for silver demand in China, Metals Focus said that despite some challenges that have all weighed on silver use in many industrial applications in recent months, ranging from consumer

(22)

electronics to the photovoltaic industry, silver industrial offtake has remained robust in absolute terms, with the 2021 total still on track to exceed 2019’s all-time high.

More importantly, the consultancy pointed out that near-term negative factors should have little impact on silver’s positive demand fundamentals over the medium-to-long term.

For instance, according to the report, ahead of the COP26, the Chinese government released a framework for its path towards peak emissions and carbon neutrality, in which it restated its plan to expand solar capacity, as well as pushing vehicle electrification in the coming years.

Elsewhere, a small decline in smartphone shipments in Q3, this has been largely by the construction of 5G base stations across the country as a shift to 5G network accelerates. Given that China is aiming to achieve full 5G coverage in urban and rural areas by end-2025, this should continue to benefit silver demand, Metals Focus said.

South Africa mining production down 3.4% y/y in Sept

By: Simone Liedtke, Writer

S

OUTH Africa’s mining production decreased by 3.4% year-on-year in September, Statistics South Africa (Stats SA) reported on November 11.

The largest negative contributors were coal, platinum-group metals (PGMs) and gold.

Manganese ore contributed 1.2 percentage points, or 14.2%, and was a significant positive contributor.

Seasonally adjusted mining production decreased by 3.7% in September, compared with August. This follows month-on-month changes of -2% in August and 3.6% in July.

Seasonally adjusted mining production decreased by 0.6% in the third quarter, compared with the second quarter.

Mineral sales, meanwhile, at current prices, increased by 1.1% year-on-year in September. The largest positive contributors were coal and PGMs at 25.5% and 6.7%, respectively.

Manganese ore (-28.4% and contributing -2.1 percentage points) and gold (-18% and contributing -1.8 percentage points) were significant negative contributors.

Seasonally adjusted mineral sales at current prices decreased by 24.6% in September, compared with August, which Stats SA said followed month-on-month changes of 1.2% in August and -1.1% in July.

The seasonally adjusted value of mineral sales at current prices was 8.9% lower for the third quarter, compared with the second quarter.

Although the impact of the Covid-19 pandemic weighed on mining production, Nedbank Economic Insights said the sector has performed relatively better than the average growth levels observed in the same period of 2017, 2018 and 2019.

It said this is partly explained by the relatively higher commodity prices and global demand.

(23)

Overall, mining production is moderating from the highs observed since March and the current halt in domestic Covid-19 restrictions should support activity in the sector.

However, Nedbank warned that the persistent uncertainty surrounding the pandemic and heightened electricity constraints will weigh on the sector’s performance, and that mining sales remain supported by relatively elevated commodity prices and increased global demand, which may level off in 2022 as demand eases and supply improves.

China's daily coal output hits record amid supply push

(Xinhua)

C

HINA's daily coal output has hit a historic high, with efforts to boost energy supply paying off, the country's top economic planner said Thursday.

Up to 12.05 million tonnes of coal was produced on Wednesday, 120,000 tonnes higher than the previous daily record, while the daily production in major coal-producing regions hit the highest level in recent years, according to the National Development and Reform Commission (NDRC).

This has consolidated the foundation for ensuring the energy supply and stabilizing prices, the NDRC said.

The record output came amid a rebound in production activities after a cold wave swept many parts of China in the past week and disrupted coal production. The average daily coal production between Nov. 7 and 9 was 11.75 million tonnes.

With railways, highways and ports taking precautionary and responsive measures, the cold weather's impact on coal transport is gradually dwindling, and the coal stock in power plants has continued to improve, according to the NDRC. (Web editor: Shi Xi, Liang Jun)

Mining Sector Working to Craft Responsible Future

T

HE INTERGOVERNMENTAL Forum on Mining, Minerals, Metals and Sustainable Development (IGF) held its 17th annual general meeting, with a focus on “mining for a responsible and inclusive future.” During the meeting the IGF launched a tool for countries on environmental and social impact assessments (ESIAs), adding to its earlier guidance for government on improving legal frameworks for ESIAs.

The IGF was an outcome of the 2002 World Summit on Sustainable Development in Johannesburg, South Africa. It currently has 79 member countries. The AGM took place

(24)

virtually from 19-20 October 2021, with over 1,500 registered participants from more than 90 countries.

As context for the meeting, the clean energy transition requires a growing supply of minerals and metals, with production of graphite, lithium, cobalt and other minerals projected to increase by nearly 500% by 2050, in addition to the three billion tons of minerals and metals needed to meet the growing demands for wind, solar, and geothermal power. The mining sector is being called on to supply these metals and minerals while continuing to assess and manage the environmental and social impacts of mining, amid increasing investor pressure for environmental, social and governance (ESG) requirements.

Thus, the industry is working to reposition itself to “supply these critical minerals, while ensuring they are extracted and traded in a responsible manner,” as explained by the Earth Negotiations Bulletin.

The 17th AGM considered issues relating to governance of the sector, including critical minerals, environmental management, ESIAs, artisanal and small-scale mining (ASM), community engagement, gender equality, local content, partnerships, taxation, and new technologies.

One session depicted a future of mining in which:

 companies’ objectives align with the objectives and aspirations of host governments and communities;

 the materials and minerals crucial for humanity to achieve the necessary energy transition are responsibly and inclusively produced; and

 host communities benefit rather than suffer.

The IGF’s Mining ESIA Tool (MET), launched during the AGM, will analyze countries’

environmental and social legal frameworks, practices, and institutional capacity in relation to ESIAs for the mining industry.

TABLE OF CONTENTS. No. Title Media Source Page