TABLE OF CONTENTS. No. Title Media Source Page

(1)

Daily News Update Page 1

T ANEKA Tambang Tbk or Antam oversees the completion of the East Halim Ferronickel Plant Development Project (P3FH) in North Maluku. Currently, the company with the issuer code ANTM is discussing cooperation with the State Electricity Company (PLN) regarding the supply of electricity for the smelter project.

ANTM's SVP Corporate Secretary Yulan Kustiyan said that previously Antam had completed a no-load test on the East Halmahera Ferronickel Smelter with available electricity.

"It is hoped that the Haltim Ferronickel Plant will be able to operate in 2022,"

Yulan said to Kontan.co.id, Tuesday (14/12).

The East Halmahera Ferronickel Smelter is planned to have a production capacity of 13,500 TNi for Line 1 per year. This smelter will complement Antam's 3 ferronickel smelters in Pomalaa, Southeast Sulawesi which have 4 i production lines with a combined capacity of 27,000 TNi per year.

Thus, if Antam's East Halmahera Ferro- nickel Smelter project is completed later, Antam will have a total annual production capacity of up to 40,500 TNi.

The East Halmahera Ferronickel Smelter is included in the list of 4 smelter projects targeted to operate this year.

Antam (ANTM) gandeng PLN untuk penyediaan listrik smelter feronikel di Haltim

Reporter: Muhammad Julian | Editor: Anna Suci Perwitasari

P

T ANEKA Tambang Tbk atau Antam mengawal penyelesaian Proyek Pem- bangunan Pabrik Feronikel Haltim (P3FH) di Maluku Utara. Saat ini, perusahaan dengan kode emiten ANTM itu tengah melakukan pembahasan kerjasama dengan Perusahaan Listrik Negara (PLN) perihal penyediaan listrik untuk proyek smelter tersebut.

SVP Corporate Secretary ANTM Yulan Kustiyan mengungkapkan, sebelumnya Antam telah menyelesaikan uji coba tanpa beban (no load test) terhadap Smelter Feronikel Halmahera Timur dengan kese- diaan listrik yang ada.

“Diharapkan Pabrik Feronikel Haltim sudah bisa beroperasi di tahun 2022,” ujar Yulan kepada Kontan.co.id, Selasa (14/12).

Smelter Feronikel Halmahera Timur di- rencanakan memiliki kapasitas produksi sebesar 13.500 TNi untuk Line 1 per tahun.

Smelter ini akan melengkapi 3 unit smelter feronikel Antam di Pomalaa, Sulawesi Tenggara yang memiliki 4 lini produksi i dengan kapasitas gabungan sebesar 27.000 TNi per tahun.

Dengan demikian, jika proyek Smelter Feronikel Halmahera Timur Antam sudah rampung kelak, Antam bakal memiliki total kapasitas produksi tahunan hingga 40.500 TNi.

Smelter Feronikel Halmahera Timur masuk ke dalam daftar 4 proyek smelter yang ditargetkan beroperasi pada tahun ini.

(4)

Apart from Antam's East Halmahera Ferronickel Smelter, three other smelter projects that are also targeted to be completed and operational in 2021 are the smelter owned by PT Smelter Nickel Indonesia, the nickel smelter from PT Cahaya Modern Metal Industri in Banten, and the PT Kapuas Prima Citra smelter in Central Kalimantan.

If all four are successfully completed this year, the total number of smelters in the country will be 23 smelters. Given, until the end of 2020, there have been 19 smelters.

In detail, there are 16 nickel smelters, two copper smelters, two bauxite smelters, one iron smelter, one manganese smelter, and one lead and zinc smelter. This smelter development program is part of the government's program to pursue the target of 53 smelters by 2024.

According to the records of the Ministry of EMR, the completion of the construction of Antam's East Halmahera Ferronickel Smelter in North Maluku is actually close to 100%. However, its completion and operation is constrained by the unavailability of electricity supply.

Contacted separately, PLN's Director of Commerce and Customer Management Bob Saril stated that PLN was ready to electrify Antam's Ferronickel Smelter in East Halmahera. Currently, PLN is in technical discussion regarding the plan to supply electricity to the smelter.

"(The Power Purchase Agreement/SPJBTL) has not been (signed), this (technical discussion) is still parallel to the discussion Kontan.co.id, Tuesday (14/12).

In PLN's plan, PLN will relocate the power plant to the East Halmahera Ferronickel Smelter location. However,...

Selain Smelter Feronikel Halmahera Timur milik Antam, tiga proyek smelter lain yang juga ditargetkan bisa rampung dan beroperasi di tahun 2021 adalah smelter milik PT Smelter Nikel Indonesia, smelter nikel dari PT Cahaya Modern Metal Industri di Banten, dan smelter PT Kapuas Prima Citra di Kalimantan Tengah.

Jika keempatnya berhasil rampung tahun ini, maka total jumlah smelter di Tanah Air menjadi 23 smelter. Mengingat, hingga akhir 2020, sudah ada 19 smelter.

Rinciannya, ada 16 smelter nikel, dua smelter tembaga, dua smelter bauksit, satu smelter besi, satu smelter mangan, dan satu smelter timbal dan seng. Program pembangunan smelter ini merupakan bagian dari program pemerintah untuk mengejar target 53 smelter di tahun 2024 mendatang.

Menurut catatan Kementerian ESDM, penyelesaian pembangunan Smelter Feronikel Halmahera Timur Antam di Maluku Utara sebenarnya sudah men- dekati 100%. Hanya saja, penyelesaian dan pengoperasiannya terkendala pasokan listrik yang belum tersedia.

Dihubungi terpisah, Direktur Niaga dan Manajemen Pelanggan PLN Bob Saril menyatakan bahwa PLN siap melistriki Smelter Feronikel Antam di Halmahera Timur. Saat ini, PLN sedang dalam pembahasan teknis perihal rencana untuk memasok listrik ke smelter tersebut.

“(Surat Perjanjian Jual Beli Tenaga Listrik/SPJBTL) Belum (ditandatangani), ini (pembahasan teknis) masih paralel dengan pembahasan Draft SPJBTL,”

ungkap Bob kepada Kontan.co.id, Selasa (14/12).

Dalam rencana PLN, PLN bakal merelokasi pembangkit ke lokasi Smelter Feronikel Halmahera Timur. Hanya saja,...

(5)

However, Bob is still reluctant to specify the generator in question. "Still can not be disclosed," concluded Bob.

Hanya saja, Bob masih enggan merinci pembangkit yang dimaksud. “Masih belum bisa diungkapkan,” pungkas Bob.

Bumi Resources Boosts Coal Production

Gita Rossiana

P

T BUMI Resources Tbk (BUMI) will boost coal production to 90 million tons by 2022.

The company has prepared a capital expenditure (capex) of US$ 13.3 million.

Director of Bumi Resources R.A Sri Dharmayanti explained that the capital expenditure was not used for Bumi Resources activities, but for the activities of its subsidiaries. "The capex is at the subsidiary level, which is around US$ 9.8 million at KPC and US$ 3.5 million at Arutmin," she said in a virtual public expose, Tuesday (14/12).

Sri emphasized that KPC's production next year is targeted at 61 million tons, while Arutmin's is at 29 million tons, bringing the total production to 90 million tons.

According to her, the increased coal production will be greatly helped by the coal price, which is currently above US$

100 per ton. Plus, Bumi Resources uses a fairly good contractor, so it is hoped that it will produce production as expected.

Sri added that the price of coal in the last few months has indeed been quite high and is expected to continue until 2022 in the range of US$ 140-160 per ton. The high demand for coal from China and India as well as the recovering world economy is considered to be able to encourage power plants to use coal.

Bumi Resources Genjot Produksi Batu Bara

Gita Rossiana

P

T BUMI Resources Tbk (BUMI) akan menggenjot produksi batu bara hingga 90 juta ton pada 2022. Perseroan menyiapkan belanja modal (capital expenditure/capex) sebesar US$ 13,3 juta.

Direktur Bumi Resources R.A Sri Dharmayanti menjelaskan, belanja modal tersebut bukan digunakan untuk kegiatan Bumi Resources, melainkan untuk kegiatan anak usaha.

“Capex-nya ada di level anak usaha, yaitu sekitar US$ 9,8 juta di KPC dan US$ 3,5 juta di Arutmin," kata dia dalam paparan publik secara virtual, Selasa (14/12).

Sri menegaskan, produksi KPC pada tahun depan ditargetkan sebesar 61 juta ton, sedangkan Arutmin sebesar 29 juta ton, sehingga total keseluruhan produksi sebanyak 90 juta ton.

Menurut dia, produksi batu bara yang meningkat tersebut akan sangat terbantu dengan harga batu bara yang saat ini berada di atas US$ 100 per ton. Ditambah, Bumi Resources menggunakan kontraktor yang cukup bagus, sehingga diharapkan bisa menghasilkan produksi sesuai harapan.

Sri menambahkan, harga batu bara dalam beberapa bulan terakhir ini memang cukup tinggi dan diperkirakan akan berlanjut hingga 2022 dalam rentang US$ 140-160 per ton.

Tingginya permintaan batu bara dari Tiongkok dan India serta perekonomian dunia yang mulai pulih dinilai bisa mendorong pembangkit listrik untuk menggunakan batu bara.

(6)

Meanwhile, Bumi Resources through PT Kaltim Prima Coal (KPC) is one of the largest coal exporters in the world. In Indonesia, Bumi Resources through KPC and Arutmin controls 25% of all coal production which in 2020 will reach 81.1 million tons.

Bumi Resources has coal reserves of 2.46 billion metric tons that are ready to be marketed and coal resources of 10 billion metric tons. Coal sales are currently still concentrated in Indonesia at 32%, China 33%, India 12% and other countries in East Asia and Southeast Asia.

As of the third quarter of 2021, Bumi Resources recorded a profit attributable to owners of the parent company of US$ 63.7 million. This value is inversely propor- tional to the achievement in the same period the previous year which lost US$

137.3 million.

The increase in net profit was supported by gross revenue which increased 35 percent to US$ 3.75 billion in the third quarter of 2021. Meanwhile, until the third quarter of 2020, Bumi recorded revenues of US$ 2.77 billion. The increase in revenue was triggered by the ongoing upward trend in coal prices.

In the midst of increasing revenue, the company's cost of goods sold is still under control at US$ 2.8 billion, even though currently Bumi Resources has to face pandemic conditions, challenging bad weather, and fluctuations in oil prices.

Bumi Resources' operating margin has also tripled to 20%.

Bumi Resources targets to be able to complete loan payments by 2022. The company has also appointed the Boston Consulting Group to carry out negotiations, so that it can reduce the amount of interest expenses currently facing.

Adapun Bumi Resources melalui PT Kaltim Prima Coal (KPC) merupakan salah satu pengekspor batu bara terbesar di dunia. Di Indonesia, Bumi Resources melalui KPC dan Arutmin menguasai 25% dari seluruh produksi batu bara yang pada 2020 mencapai 81,1 juta ton.

Bumi Resources memiliki cadangan batu bara sebanyak 2,46 miliar metrik ton yang siap dipasarkan dan sumber daya batu bara sebanyak 10 miliar metrik ton.

Penjualan batu bara saat ini masih ter- konsentrasi di Indonesia sebesar 32%, Tiongkok 33%, India 12% dan negara lain di kawasan Asia Timur dan Asia Tenggara.

Hingga kuartal III-2021, Bumi Resources mencatat laba yang diatribusikan kepada pemilik entitas induk sebesar US$ 63,7 juta. Nilai ini berbanding terbalik dengan raihan pada periode yang sama tahun sebelumnya yang merugi US$ 137,3 juta.

Peningkatan laba bersih ini ditopang oleh pendapatan kotor yang meningkat 35%

menjadi US$ 3,75 miliar hingga kuartal III- 2021. Sementara itu, hingga kuartal III- 2020, Bumi mencatat pendapatan sebesar US$ 2,77 miliar. Peningkatan pendapatan dipicu oleh tren peningkatan harga batu bara yang masih berlangsung.

Di tengah pendapatan yang meningkat, beban pokok penjualan perseroan masih terkendali di angka US$ 2,8 miliar, meski- pun saat ini Bumi Resources harus menghadapi kondisi pandemi, cuaca buruk yang menantang, dan fluktuasi harga minyak. Margin usaha Bumi Resources juga meningkat tiga kali lipat menjadi 20%.

Bumi Resources menargetkan bisa menyelesaikan pembayaran pinjaman pada 2022.

Perseroan juga sudah menunjuk Boston Consulting Group untuk melakukan nego- siasi, sehingga bisa menekan jumlah beban bunga yang dihadapi saat ini.

(7)

On October 18, 2021, Bumi Resources processed the 15th payment for Tranche A of US$ 78.8 million. This payout is the largest on record for Tranche A.

The 15th payment represents a principal loan of US$ 70.7 million and interest of US$

8.1 million. Management revealed that the payment in October 2021 was the largest ever made or four times more than the July 21 payment of US$ 23.3 million.

By making this payment, Bumi Resources has paid off a total loan of US$ 443.8 million in cash. This payment consists of Tranche A principal of US$ 282.4 million and interest of US$ 161.4 million, including accrued interest and back interest. Editor : Jauhari Mahardhika

Pada 18 Oktober 2021, Bumi Resources mem- proses pembayaran ke-15 untuk Tranche A sebesar US$ 78,8 juta. Pembayaran kali ini merupakan rekor pembayaran terbesar untuk Tranche A.

Pembayaran ke-15 tersebut mewakili pinjaman pokok sebesar US$ 70,7 juta dan bunga sebesar US$ 8,1 juta. Manajemen mengungkapkan, pembayaran pada Oktober 2021 ini adalah yang terbesar yang pernah dilakukan atau empat kali lebih banyak dari pembayaran 21 Juli yang sebesar US$ 23,3 juta.

Dengan dilakukannya pembayaran ini, Bumi Resources telah membayar pinjaman secara keseluruhan sebesar US$ 443,8 juta secara tunai. Pembayaran ini terdiri atas pokok Tranche A sebesar US$ 282,4 juta dan bunga sebesar US$ 161,4 juta, termasuk bunga akrual dan bunga yang belum dibayar (back interest).

Editor : Jauhari Mahardhika

Anticipating Declining Demand, Government Encourages Coal

Exploration

Author: Rayful Mudassir

T

HE MINISTRY of Energy and Mineral Resources (MEMR) encourages an increase in coal exploration activities in line with the potential decline in global market demand in the future.

The Director of Coal Business Development at the Ministry of EMR, Sujatmiko, said that the government was continuing to increase its exploration efforts for this commodity.

The ministry has also coordinated with the Ministry of Finance to obtain an allocation of non-tax state revenue (PNBP) to support coal development.

Antisipasi Penurunan

Permintaan, Pemerintah Dorong Eksplorasi Batu Bara

Author: Rayful Mudassir

K

EMENTERIAN Energi dan Sumber Daya Mineral (ESDM) mendorong peningkatan kegiatan eksplorasi batu bara seiring dengan potensi penurunan permintaan pasar global di masa depan.

Direktur Pembinaan Pengusahaan Batu Bara Kementerian ESDM Sujatmiko mengatakan bahwa pemerintah terus meningkatkan upaya eksplorasi tambang komoditas itu.

Kementerian juga telah berkoordinasi dengan Kementerian Keuangan demi mendapatkan alokasi pendapatan negara bukan pajak (PNBP) untuk mendukung pengembangan batu bara.

(8)

"We will use some parts of PNBP to increase coal exploration," he said during a webinar on the Future of the Coal Industry Towards an Energy Transition, Tuesday (12/14/2021).

One of the allocations is to increase exploration for high-calorie coal. This species, said Sujatmiko, has not been widely explored in Indonesia. This step is also an effort to reduce imports of coke and semi-coke.

The ministry noted that imports of coking and semi-coking coal reached 1.5 million tons per year. The commodity is generally used by the smelter industry as well as for the manufacture of steel.

Increased exploration, he continued, is also to find mineable reserves. This needs to be done in line with the coal reserves near the highway and near the sea that will run out.

"Also to make a map of the quality of coal, so that it can be adapted to the type of use," he explained.

Furthermore, the Ministry of EMR also encourages the improvement of mining technology capabilities and the use of coal.

This step is also encouraged by conservation and mining in accordance with good principles for the environment.

Sujatmiko ensured that the domestic supply of coal could be met properly for electricity and other industries. In addition, the determination of the benchmark price continues to be carried out to ensure that domestic use continues, as well as to create added value for coal for gasification and liquefaction.

Data from the Ministry of EMR found that coal resources in Indonesia reached 143.7 billion tons, and reserves of 38.8 billion tons. Assuming a production of 600 million tons per year, the existing reserves will last up to 65 years.

“Kami akan menggunakan beberapa bagian PNBP untuk peningkatan eksplorasi batu bara,” katanya saat webinar Masa Depan Industri Batu Bara Menuju Transisi Energi, Selasa (14/12/2021).

Alokasi tersebut salah satunya untuk meningkatkan eksplorasi batu bara kalori tinggi. Jenis itu, kata Sujatmiko, belum banyak dieksplorasi di Indonesia. Langkah tersebut juga sebagai upaya mengurangi impor kokas dan semi kokas.

Kementerian mencatat, impor batu bara kokas maupun semi kokas mencapai 1,5 juta ton per tahun. Komoditas itu umumnya digunakan oleh industri smelter maupun untuk pembuatan baja.

Peningkatan eksplorasi, lanjutnya, juga untuk menemukan cadangan yang dapat ditambang. Hal itu perlu dilakukan seiring dengan cadangan batu bara di dekat jalan raya maupun dekat laut yang bakal habis.

“Juga untuk membuat peta kualitas batu bara, sehingga bisa disesuaikan dengan tipe peng- gunaannya,” terangnya.

Lebih lanjut, Kementerian ESDM juga mendorong peningkatan kemampuan teknologi penambangan dan pemanfaatan batu bara.

Langkah itu turut didorong dengan konser- vasi dan pertambangan sesuai kaidah yang baik terhadap lingkungan hidup.

Sujatmiko memastikan, pasokan batu bara dalam negeri dapat dipenuhi dengan baik untuk listrik maupun industri lain. Selain itu, penetapan harga patokan terus dijalankan untuk memastikan penggunaan dalam negeri berjalan, serta menciptakan nilai tambah batu bara untuk gasifikasi dan likuifaksi.

Data Kementerian ESDM mendapati sumber daya batu bara di Indonesia mencapai 143,7 miliar ton, dan cadangan sebesar 38,8 miliar ton. Dengan asumsi produksi 600 juta ton per tahun, cadangan yang ada akan bertahan hingga 65 tahun.

(9)

However, coal commodity is starting to face challenges in the midst of the world's efforts to reduce the use of fossil energy. In addition, the green product trade is putting more pressure on the industry.

Sujatmiko estimates that coal will face a potential decline in the next few years. In fact, world demand will fall by 40 percent by 2050 due to tightening of carbon emission regulations.

Therefore, Indonesia is considered to need to immediately make an energy transition to respond to global challenges.

For the same amount of money, Executive Director of the Indonesian Coal Mining Association (APBI) Hendra Sinadia said that mining companies are continuing to optimize existing coal reserves. This step also takes advantage of rising coal prices in the global market.

"Currently, coal companies continue to maximize their existing potential, because prices don't always go up, they don't always stay good," he said.

“The small ones don't necessarily [have a lot of reserves]. Maybe only 5 years until 2025, or 2030. So they don't see [going down demand]. The important thing is to maximize what is now," he said.

The association is optimistic that demand for coal will continue to increase in the coming year, including from Asia Pacific.

Around 98 percent of Indonesia's total coal exports are channeled to the region, with China and India absorbing about 63 percent of Indonesia's coal exports.

This belief, said Hendra, is in line with the potential for industrial development starting next year. This condition automatically increases the demand for electricity and coal as one of the fuels.

Namun begitu, komoditas batu bara mulai menghadapi tantangan di tengah upaya dunia mengurangi penggunaan energi fosil.

Selain itu, perdagangan green product makin menekan industri tersebut.

Sujatmiko memperkirakan batu bara akan menghadapi potensi penurunan dalam beberapa tahun mendatang. Bahkan, permintaan dunia anjlok hingga 40 persen pada 2050 akibat pengetatan peraturan emisi karbon.

Sebab itu, Indonesia dinilai perlu segera melakukan transisi energi untuk menjawab tantangan global.

Setali tiga uang, Direktur Eksekutif Asosiasi Pertambangan Batubara Indonesia (APBI) Hendra Sinadia mengatakan, optimalisasi cadangan batu bara yang ada terus dilakukan perusahaan tambang. Langkah tersebut sekaligus memanfaatkan kenaikan harga batu bara di pasar global.

“Perusahaan batu bara saat ini terus memaksimalkan potensi yang ada, karena harga tidak selamanya naik, tidak selamanya bagus terus,” katanya.

“Yang kecil-kecil belum tentu [memiliki cadangan banyak]. Mungkin cuma 5 tahun sampai 2025, atau 2030. Jadi mereka tidak melihat [penurunan permintaan ke depan].

Yang penting memaksimalkan yang sekarang,” ujarnya.

Asosiasi optimistis permintaan terhadap batu bara akan terus meningkat di tahun mendatang, termasuk dari Asia Pasifik.

Sekitar 98 persen dari total ekspor batu bara Indonesia memang disalurkan ke kawasan itu, dengan China dan India yang menyerap sekitar 63 persen batu bara ekspor dari Indonesia.

Keyakinan tersebut, kata Hendra, seiring dengan potensi perkembangan industri mulai tahun depan. Kondisi tersebut secara otomatis meningkatkan kebutuhan listrik dan batu bara sebagai salah satu bahan bakarnya.

(10)

"I think if you look at their policies [of China and India], [coal] we still have a chance for the next 3 to 4 decades," he explained. Editor : Lili Sunardi

“Rasanya kalau melihat kebijakan mereka [China dan India], [batu bara] kita masih punya kesempatan 3 hingga 4 dekade ke depan,” terangnya. Editor : Lili Sunardi

Bukit Asam Business Transformation Supports Net

Zero Emission Target

Editor

S

INCE the Paris Agreement, environ- mental issues have become quite attractive for the coal industry because they are forced to be adaptive. This is also experienced by PT Bukit Asam Tbk. Setiadi Wicaksono, Head of Strategy and Corporate Development of Bukit Asam, said that Bukit Asam's business transformation is related to supporting the government's Net Zero Emission target by 2060.

"However, we cannot turn a blind eye to national energy security where coal is a fairly abundant resource," Setiadi said at DETalk Outlook 2022: The Future of the Coal Industry Towards an Energy Transition, Tuesday (14/12).

According to Setiadi, Bukit Asam's new direction is beyond coal. The company not only sells coal, but also becomes an energy company by developing power plants.

“Beyond coal Bukit Asam, the concept is more towards EBT power plants, and coal downstreaming. There are three, power plants, NRE, and coal to chemical.

However, it is possible for Bukit Asam to develop other downstream products. But right now our focus is on these three things," he said.

Transformasi Bisnis Bukit Asam Dukung Target Net Zero

Emission

Redaktur

S

EJAK adanya Paris Agreement isu lingkungan menjadi cukup menarik bagi industri batu bara karena mau tidak mau dituntut adaptif. Hal ini juga dialami PT Bukit Asam Tbk. Setiadi Wicaksono, Head of Strategy and Corporate Development Bukit Asam, mengatakan transformasi bisnis Bukit Asam kaitannya untuk mendukung target Net Zero Emission pemerintah pada 2060.

“Namun kita tidak bisa menutup mata terhadap ketahanan energi nasional dimana batu bara merupakan sumber daya yang cukup melimpah,” kata Setiadi pada DETalk Outlook 2022 : Masa Depan industri Batu bara Menuju Transisi Energi, Selasa (14/12).

Menurut Setiadi, arah baru Bukit Asam adalah beyond coal. Perusahaan tidak hanya menjual batu bara, namun juga menjadi perusahaan energi dengan mengembangkan pembangkit listrik..

“Beyond coal Bukit Asam konsepnya lebih ke arah pembangkit listrik EBT, dan hilirisasi batu bara. Ada tiga, pembangkit listrik, EBT, dan coal to chemical. Namun tidak menutup kemungkinan produk hilirisasi lain yang bisa dikembangkan Bukit Asam. Tapi saat ini fokus kami ketiga hal tadi,” katanya.

(11)

Singgih Widagdo, Chair of the Indonesia Mining and Energy Forum, said the government should provide a mapping from now on, so that it is clear for mining companies to prepare for the energy transition. Net Zero Emission is still 2060, the world average is above 2050. However, the Indonesian government should not rush it, it must be watched carefully.

“The transition is still long. What must be prepared when the mining industry grows, we are trapped in exports which are greater than domestic needs, this needs to be mapped," said Singgih.

Sujatmiko, Director of Coal Business Development at the Ministry of EMR, said that based on global projections, coal demand will continue to decline in the future.

Moreover, global funding has begun to require green products and coal is a challenge for global green funding.

Indonesia still has significant reserves of coal. Coal is still the backbone of the national economy.

“Energy transition is how to connect facts with future global trends. We are currently drafting several policies that will become corridors or steps towards the energy transition," said Sujatmiko.

According to Sujatmiko, the Directorate General of Mineral and Coal at the Ministry of EMR has tried to initiate a coal development roadmap so that it can be developed sustainably. There are two things, a vision to improve national energy security and optimizing the use of domestic coal. "The mission is so that coal can be used optimally while maintaining the environment," he said. (RA)

Singgih Widagdo, Ketua Indonesia Mining and Energy Forum, mengatakan pemerintah seharusnya memberikan pemetaan dari sekarang, sehingga jelas bagi perusahaan pertambangan untuk memper- siapkan menghadapi transisi energi. Net Zero Emission masih 2060, rata-rata dunia di atas 2050. Namun pemerintah Indonesia jangan terburu-baru, harus melihat hati- hati.

“Transisi masih panjang. Yang harus dipersiapkan pada saat industri pertambangan tumbuh kita terjebak ekspor lebih besar dari kebutuhan domestik, ini yang perlu dipetakan,” kata Singgih.

Sujatmiko, Direktur Pembinaan Peng- usahaan Batu Bara Kementerian ESDM, mengatakan berdasarkan proyeksi global permintaan batu bara akan terus menurun ke depan. Apalagi pendanaan global sudah mulai mensyaratkan green product dan batu bara menjadi tantangan bagi pendanaan green global. Indonesia masih punya sumber daya cadangan signifikan batu bara. Batu bara masih menjadi tulang punggung perekonomian nasional.

“Transisi energi bagaimana menyambung- kan fakta dengan tren global ke depan. Saat ini kami sedang susun beberapa kebijakan yang akan menjadi koridor atau langkah menuju transisi energi,” kata Sujatmiko.

Menurut Sujatmiko, Direktorat Jenderal Minerba Kementerian ESDM sudah men- coba inisiasi roadmap pengembangan batu bara agar bisa dikembangkan secara berkelanjutan. Ada dua hal, visi untuk meningkatkan ketahanan energi nasional dan optimalisasi pemanfaatan batu bara dalam negeri. “Misinya agar batu bara bisa dimanfaatkan secara optimal dengan tetap menjaga lingkungan,” katanya. (RA)

(12)

Aneka Tambang (ANTM) repaid the principal payment of bonds

worth Rp 2.1 trillion

Reporter: Akhmad Suryahadi | Editor:

Wahyu T. Rahmawati

P

T ANEKA Tambang Tbk (ANTM) has repaid the principal payment of the 2011 Series B continuous bonds I phase I of IDR 2.1 trillion. The 10-year tenor and an interest rate of 9.05% per annum will mature on December 14, 2021.

As a flashback, in 2011, ANTM issued bonds amounting to Rp 3 trillion and issued in two series, namely series A which has a tenor of seven years amounting to Rp 900 billion with an interest rate of 8.375%

per year which was repaid in 2018. While series B has a ten-year tenor of Rp 2.1 trillion with an interest rate of 9.05% per annum.

Antam uses this Rp 3 trillion bond fund to support routine investment financing in ANTM's business units to support operational performance and maintain production stability. ANTM also used bond funds for business development, including capital expenditures for the development of the ferronickel plant in Pomalaa through the Pomalaa ferronickel plant expansion project (P3FP). This expansion aims to increase the efficiency and installed production capacity of the nickel issuer's ferronickel plant in Pomalaa.

This project also includes the construction of a steam power plant (PLTU) which aims to increase the cost efficiency of ANTM's ferronickel production. P3FP entered the commercial operation phase in 2017.

Aneka Tambang (ANTM) lunasi pembayaran pokok obligasi

senilai Rp 2,1 triliun

Wahyu T. Rahmawati

P

T ANEKA Tambang Tbk (ANTM) telah melunasi pembayaran pokok obligasi berkelanjutan I tahap I tahun 2011 Seri B senilai Rp 2,1 triliun. Obligasi tenor 10 tahun dan tingkat bunga sebesar 9,05% per tahun ini jatuh tempo pada 14 Desember 2021.

Sebagai kilas balik, pada tahun 2011, ANTM menerbitkan obligasi sejumlah Rp 3 triliun dan diterbitkan dalam dua seri, yakni seri A yang memiliki tenor tujuh tahun sejumlah Rp 900 miliar dengan tingkat bunga 8,375%

per tahun yang telah dilunasi pada tahun 2018. Sementara seri B memiliki tenor sepuluh tahun sejumlah Rp 2,1 triliun dengan tingkat bunga 9,05% per tahun.

Antam menggunakan dana obligasi Rp 3 triliun ini untuk mendukung pembiayaan investasi rutin di unit-unit bisnis ANTM guna menunjang kinerja operasional dan meme- lihara stabilitas produksi. ANTM juga menggunakan dana o0bligasi untuk pengembangan usaha, diantaranya belanja modal untuk pengembangan pabrik feronikel di Pomalaa melalui proyek perluasan pabrik feronikel pomalaa (P3FP). Peerluasan ini bertujuan untuk meningkatkan efisiensi dan kapasitas produksi terpasang pabrik feronikel milik emiten nikel tersebut di Pomalaa.

Proyek ini juga mencakup pembangunan pembangkit listrik tenaga uap (PLTU) yang bertujuan untuk meningkatkan efisiensi biaya produksi feronikel ANTM. P3FP telah memasuki fase operasi komersial pada tahun 2017.

(13)

On September 13, 2021, ANTM's Phase I bonds received an “idA/stable outlook”

rating from PT Pemeringkat Efek Indonesia (Pefindo). The rating reflects that ANTM has a strong ability to meet its long-term financial commitments.

Aneka Tambang Corporate Secretary Yulan Kustiyan said, through business innovation to increase revenue, ANTM ensures its ability to meet obligations and support funding for future growth. "This is to provide positive returns for shareholders and stakeholders," explained Yulan in an information disclosure, Tuesday (14/12).

Pada 13 September 2021, obligasi tahap I ANTM mendapatkan rating “idA/outlook stabil” dari PT Pemeringkat Efek Indonesia (Pefindo). Peringkat tersebut mencerminkan bahwa ANTM memiliki kemampuan yang kuat untuk memenuhi komitmen keuangan jangka panjangnya.

Sekretaris Perusahaan Aneka Tambang Yulan Kustiyan mengatakan, melalui inovasi bisnis untuk meningkatkan pendapatan, ANTM memastikan kemampuannya untuk memenuhi kewajiban serta mendukung pendanaan per- tumbuhan di masa depan. “Hal ini guna memberikan imbal hasil yang positif bagi pemegang saham dan pemangku kepentingan,” terang Yulan dalam keterbukaan informasi, Selasa (14/12).

Coal for Electricity Predicted to Increase to 150 MT in 2030

Cantika Adinda Putri, Pratama Guitarra, CNBC Indonesia

P

T PLN (Persero) predicts that coal consumption for electricity needs will still experience a significant increase until 2030. From what currently reaches 90 million tons, in 2030 it is predicted to reach 150 million tons.

The Executive Vice President (EVP) of PLN's Electricity System Planning, Edwin Nugraha Putra, said the high coal demand was in line with the achievement of the 35,000 Mega Watt (MW) program in the next few years.

Edwin said that the fossil energy mix in 2021 would still reach 60%. Even until 2030, the energy mix from coal is still at 60%. "So it is still dominant," said Edwin, Tuesday (12/14/2021).

Batu Bara Buat Listrik Diramal Melonjak 150 Juta Ton di 2030

Cantika Adinda Putri, Pratama Guitarra, CNBC Indonesia

P

T PLN (Persero) meramal konsumsi batu bara untuk kebutuhan listrik diramal masih akan mengalami peningkatan yang signifikan hingga tahun 2030. Dari yang saat ini mencapai 90 juta ton, pada tahun 2030 diprediksi mencapai 150 juta ton.

Executive Vice Presiden (EVP) Perencanaan Sistem Ketenagalistrikan PLN, Edwin Nugraha Putra menyebutkan, kebutuhan batu bara yang tinggi itu seiring dengan tercapainya program 35.000 Mega Watt (MW) dalam beberapa tahun ke depan.

Edwin menyampaikan bahwa bauran energi fosil pada tahun 2021 masih mencapai 60%.

Bahkan sampai tahun 2030 juga bauran energi dari batu bara ini masih diangka 60%. "Jadi memang masih dominan," ungkap Edwin, Selasa (14/12/2021).

(14)

Meanwhile, it is undeniable that the demand for coal for PLTU is still high, in 2021 it will still be around 90 - 100 million tons. In fact, the need will increase with the inclusion of 35,000 MW projects.

"Maish demand for coal increases, it could be 150 million tons in 2030," said Edwin.

Referring to the records of the Ministry of EMR, until September 2021, the progress of the 35,000 MW mega project is still minimal. Currently, the Commercial Operation Date (COD) has only reached 10,469 MW. While 17,685 MW in the construction phase, 6,063 MW in the Power Purchase Agreement (PPA) phase and 839 MW in the procurement phase, and 724 MW in the planning phase.

Meanwhile, to support the government's steps to pursue a zero carbon target by 2060, PLN stated that the need for PLN's power plants in 2026 will begin to be changed to new and renewable energy (EBT).

One of them is by running a biomass co- firing. It is targeted that the co-firing will run at 10% - 20% in coal plants. "We hope that three to six percent of the NRE energy mix can be achieved with this effort. It is one of the businesses with coal for the next 5 to 10 years," he explained. (pgr/pgr)

Sementara itu memang tak bisa dipungkiri bahwa kebutuhan batu bara akan PLTU masih tinggi, pada tahun 2021 masih sekitar 90 - 100 juta ton. Bahkan, kebutuhan akan semakin meningkat dengan masuknya proyek-proyek 35.000 MW.

"Maish naik kebutuhan batu bara, bisa menjadi 150an juta ton di tahun 2030," tegas Edwin.

Mengacu catatan Kementerian ESDM, sampai pada September 2021, progres megaproyek 35.000 MW itu masih mini. Saat ini yang sudah Commercial operation Date (COD) baru mencapai 10.469 MW. Sedangkan 17.685 MW fase konstruksi, 6.063 MW fase Power Purchase Agreement (PPA) dan 839 MW fase pengadaan, serta 724 MW fase perencanaan.

Sementara itu, untuk mendukung langkah pemerintah mengejar target zero carbon pada tahun 2060, PLN menyebutkan bahwa kebutuhan pembangkit PLN di tahun 2026 akan mulai diubah ke energi baru dan terbarukan (EBT).

Salah satunya dengan cara menjalankan Co- firing biomassa. Ditargetkan co-firing itu akan berjalan di 10% - 20% dalam pembangkit batu bara. "Kita harap 3%-6%

bauran energi EBT tercapai dengan usaha tersebut. Itu salah satu usaha dengan batubara 5 tahun sampai 10 tahun ke depan,"

terang dia. (pgr/pgr)

Kaltim Prima Coal Mining Contract Expires December 31,

2021, Will It Be Extended?

Maulandy Rizky Bayu Kencana

T

HE COAL Mining Concession Work Contract (PKP2B) of PT Kaltim Prima Coal (KPC) as a subsidiary of PT Bumi Resources Tbk will expire on December 31, 2021.

Kontrak Tambang Kaltim Prima Coal Habis 31 Desember 2021,

Diperpanjang?

Maulandy Rizky Bayu Kencana

K

ONTRAK Perjanjian Karya Pengusahaan Pertambangan Batubara (PKP2B) PT Kaltim Prima Coal (KPC) selaku anak usaha PT Bumi Resources Tbk akan berakhir pada 31 Desember 2021.

(15)

The Ministry of Energy and Mineral Resources (Ministry of EMR) is also evaluating the extension proposal submitted by KPC.

The Director of Coal Business Development at the Ministry of EMR, Sujatmiko, explained that the government is currently evaluating the application for a KPC contract extension to become a Special Mining Business Permit (IUPK).

This provision is regulated in Government Regulation (PP) Number 96 of 2021 concerning the Implementation of Mineral and Coal Mining Business Activities.

"The extension of the PKP2B to IUPK after meeting the requirements will be granted before the PKP2B ends. So if the application meets the existing rules, the extension will be granted," explained Sujatmiko in a webinar session, Tuesday (14/12/2021).

Sujatmiko explained, in the process of extending the PKP2B into an IUPK, KPC is required to prepare an Entire Area Development Plan (RPSW).

"Well, this RPSW is evaluated, each of which will see its future production plan according to the extended permit. Then the condition of the reserves and the surrounding spatial layout," he explained.

The request is currently being evaluated by a team of experts, and the results will be presented to the Minister of EMR for a final decision.

"In the most important sense, this is the basis for the Minister (EMR) to make a decision, whether the area will be reduced by how much, or to give the IUPK area according to the regional development plan based on local conditions. And the government's plan to allocate the land for the mining sector or other sectors," he said.

Kementerian Energi dan Sumber Daya Mineral (Kementerian ESDM) pun tengah mengevaluasi proposal perpanjangan yang diajukan KPC.

Direktur Pembinaan Pengusahaan Batu bara Kementerian ESDM Sujatmiko menjelaskan, pemerintah tengah mengevaluasi permohonan perpanjangan kontrak KPC jadi Izin Usaha Pertambangan Khusus (IUPK).

Ketentuan ini diatur dalam Peraturan Pemerintah (PP) Nomor 96 Tahun 2021 tentang Pelaksanaan Kegiatan Usaha Pertambangan Mineral dan Batubara.

"Perpanjangan PKP2B menjadi IUPK itu setelah menenuhi persyaratan akan diberikan sebelum PKP2B berakhir. Sehingga kalau permohonan memenuhi aturan yang ada, perpanjangan akan diberikan," terang Sujatmiko dalam sesi webinar, Selasa (14/12/2021).

Sujatmiko memaparkan, dalam proses perpanjangan PKP2B menjadi IUPK, KPC wajib menyiapkan Rencana Pengembangan Seluruh Wilayah (RPSW).

"Nah, RPSW ini dievaluasi, masing-masing akan dilihat rencana produksinya ke depan sesuai izin yang diperpanjang. Kemudian kondisi cadangannya dan tata ruang sekitarnya," bebernya.

Permohonan itu kini tengah dievaluasi tim ahli, dan hasilnya akan diberikan kepada Menteri ESDM untuk dijadikan keputusan final.

"Dalam hal terpenting, ini menjadi dasar Pak Menteri (ESDM) memberi keputusan, apakah wilayah itu akan diciutkan berapa, atau untuk memberikan wilayah IUPK-nya sesuai dengan rencana pengembangan wilayah berdasarkan kondisi setempat.

Dan rencana pemerintah untuk mengalokasikan lahan tersebut bagi sektor pertambangan atau sektor lain," tuturnya.

(16)

Check out Bumi Resources (BUMI) targets and business

plans for next year

Wahyu T. Rahmawati

P

T BUMI Resources Tbk (BUMI) has prepared a number of business agendas for next year, one of which is coal production figures.

Director of Bumi Resources R.A. Sri Dharmayanti explained that BUMI's subsidiary, PT Kaltim Prima Coal (KPC) will produce 61 million tons of coal, while Arutmin Indonesia (AI) is estimated to produce 29 million tons of coal. "So the total production is 90 million tons,"

explained Dharmayanti during a virtual public expose, Tuesday (14/12).

Meanwhile, the coal price, which is still above the level of US$ 100 per ton, has been a blessing for BUMI to generate profits. Next year, BUMI believes that coal prices are still promising.

BUMI projects that next year's coal price will be around US$ 140 per ton to US$ 160 per ton. This projection is supported by a number of catalysts, such as still good demand from China and India in line with the Covid-19 cases that are starting to be handled. In addition, the price of liquefied natural gas (LNG) is still quite high, which is above the level of US$ 30. This will encourage power plants to switch to using coal.

BUMI through KPC and Arutmin will take advantage of this momentum, supported by reliable mining contractors, so that they can support the expected performance targets.

Simak target dan rencana bisnis Bumi Resources (BUMI) tahun

depan

Wahyu T. Rahmawati

P

T BUMI Resources Tbk (BUMI) sudah menyiapkan sejumlah agenda bisnis untuk tahun depan, salah satunya angka produksi batubara.

Direktur Bumi Resources R.A. Sri Dharmayanti menjabarkan, anak usaha BUMI yakni PT Kaltim Prima Coal (KPC) akan mem- produski 61 juta ton batubara, sementara Arutmin Indonesia (AI) diperkirakan mem- produksi 29 juta ton batubara. “Sehingga total keseluruhan produksi 90 juta ton,”

terang Dharmayanti saat paparan publik yang digelar secara virtual, Selasa (14/12).

Adapun harga batubara yang masih bertahan di atas level US$ 100 per ton hingga saat ini menjadi berkah bagi BUMI untuk menghasilkan keuntungan. Tahun depan, BUMI meyakini harga batubara masih menjanjikan.

BUMI memproyeksikan tahun depan harga batubara sekitar US$ 140 per ton sampai US$

160 per ton. Proyeksi ini disokong oleh sejumlah katalis, seperti masih baiknya permintaan dari China dan India seiring dengan kasus Covid-19 yang mulai ter- tangani. Selain itu, harga gas alam cair (LNG) juga masih cukup tinggi, yakni di atas level US$ 30. Hal ini akan mendorong pembangkit listrik untuk beralih menggunakan batubara.

BUMI melalui KPC dan Arutmin akan memanfaatkan momentum tersebut, didukung oleh kontraktor tambang yang andal, sehingga bisa mendukung target kinerja yang diharapkan.

(17)

For this year, production is estimated to be in the range of 80 million tons to 82 million tons, with a selling price of US$ 68 per tonne to US$ 72 per ton. The estimated production cost is US$ 33 to US$ 35 per ton, making BUMI one of the coal mining companies with the lowest production costs.

KPC will allocate capital expenditure (capex) of US$ 9.8 million. Meanwhile, Arutmin's capex is US$ 3.5 million.

As of the end of September 2021, this Bakrie Group-affiliated mining company has sold 58.8 million tons of coal, a 2%

decrease from sales realization in the same period last year which reached 60.0 million tons. China and India are BUMI's main export markets, with a share of 33% and 12%, respectively, followed by sales to Japan (8%), the Philippines (4%), Taiwan (4%), and Malaysia, South Korea, Brunei Darussalam are each 2%. Meanwhile, sales to the domestic market reached 32 percent of total sales or around 19 million tons.

Meanwhile, production also decreased by 3%, from the original 60.7 million tons to 58.8 million tons at the end of the third quarter of 2021. This decline was mainly due to high rainfall.

BUMI is enjoying the blessing of rising coal prices. This is reflected in the performance as of the third quarter of 2021. BUMI posted a net profit of US$ 243.3 million as of the end of September. This realization reversed from a net loss of US$ 94.1 million in the same period last year.

In terms of topline, BUMI pocketed revenue of US$ 666.18 million, up 13.31%

from revenue in the same period last year of US$ 587.88 million.

Untuk tahun ini, produksi diperkirakan berada di rentang 80 juta ton sampai 82 juta ton, dengan harga jual sebesar U$$ 68 per ton sampai US$ 72 per ton. Estimasi biaya produksi sebesar US$ 33 sampai US$

35 per ton, menjadikan BUMI sebagai salah satu perusahaan tambang batubara dengan biaya produksi terendah.

KPC akan mengalokasikan belanja modal atau capital expenditure (capex) senilai US$

9,8 juta. Sementara capex Arutmin sebesar US$ 3,5 juta.

Hingga akhir September 2021, emiten tambang terafiliasi Grup Bakrie ini telah menjual 58,8 juta ton batubara, menurun 2% dari realisasi penjualan di periode yang sama tahun lalu yang mencapai 60,0 juta ton. China dan India adalah pasar ekspor utama BUMI, dengan porsi masing-masing 33% dan 12%, disusul oleh penjualan ke Jepang (8%), Filipina(4%), Taiwan (4%), dan Malaysia, Korea Selatan, Brunei Darussalam masing-masing 2%. Sedang- kan penjualan ke pasar domestik mencapai 32% dari total penjualan atau sekitar 19 juta ton.

Sementara itu, produksi juga menurun sebesar 3%, dari semula 60,7 juta ton menjadi 58,8 juta ton per akhir kuartal ketiga 2021. Penurunan ini utamanya akibat curah hujan yang cukup tinggi.

BUMI cukup menikmati berkah kenaikan harga batubara. Hal ini tercermin dari kinerja per kuartal ketiga 2021. BUMI membukukan laba bersih senilai US$ 243,3 juta hingga akhir September. Realisasi ini berbalik dari kondisi rugi bersih US$ 94,1 juta pada periode yang sama tahun lalu.

Dari sisi topline, BUMI mengantongi pendapatan US$ 666,18 juta, naik 13,31%

dari pendapatan di periode yang sama tahun lalu yakni sebesar US$ 587,88 juta.

(18)

Climbing to the Top of the Mountain... Coal Prices Soared

17%!

Hidayat Setiaji, CNBC Indonesia

C

OAL prices are still going strong. Thus, the price of the black stone even rose for six consecutive trading days.

Yesterday, the price of coal in the ICE Newcastle (Australia) market closed at US$

169.2/ton. Up 1.96% compared to the previous day.

This makes the price of legal coal rose for six days in a row. In those six days, the price shot up 17.01%.

The natural gas crisis in Europe has raised coal prices. In the winter of this year, it turns out that the supply of natural gas in the Blue Continent is not sufficient.

Natural gas stocks in European countries (including the UK) were only 75% filled in October 2021, and at the beginning of this month there were only about 63%

remaining. Since the beginning of Novem- ber 2021, gas in storage has decreased by 14.1 billion cubic meters. This is more than the average for the last five years, which is 11.1 billion cubic meters.

The high demand for gas is driven by the increase in the use of electricity for heating in winter. At the same time, the supply of natural gas from Russia is still hampered.

Gazprom, an oil and gas company from the Red Bear Country, is still waiting for permission to fill the Nord Stream pipeline through Ukraine and Belarus. Now the gas supply in the pipeline is only one third filled with the total available capacity, 31.4 million cubic meters from 89 million cubic meters.

Naik Naik ke Puncak Gunung...

Harga Batu Bara Melesat 17%!

Hidayat Setiaji, CNBC Indonesia

H

ARGA batu bara ternyata masih kuat naik.

Dengan demikian, harga si batu hitam genap naik selama enam hari perdagangan beruntun.

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

169,2/ton. Naik 1,96% dibandingkan sehari sebelumnya.

Ini membuat harga batu bara sah naik selama enam hari berturut-turut. Dalam enam hari tersebut, harga melesat 17,01%.

Krisis gas alam di Eropa menjadi mengerek harga batu bara. Pada musim dingin tahun ini, ternyata pasokan gas alam di Benua Biru tidak memadai.

Stok gas alam di negara-negara Eropa (termasuk Inggris) hanya 75% terisi pada Oktober 2021, dan pada awal bulan ini tinggal tersisa sekitar 63%. Sejak awal November 2021, gas di penyimpanan (storage) sudah berkurang 14,1 miliar kubik meter. Lebih banyak ketimbang rata-rata lima tahun terakhir yang terpakai 11,1 miliar kubik meter.

Kebutuhan gas yang tinggi didorong oleh kenaikan penggunaan listrik untuk peng- hangat ruangan saat musim dingin. Pada saat yang sama, pasokan gas alam dari Rusia msih terhambat.

Gazprom, perusahaan migas asal Negeri Beruang Merah, masih menunggu izin untuk mengisi pipa Nord Stream yang melalui Ukraina dan Belarusia. Kini pasokan gas di pipa tersebut baru terisi sepertiga dari total kapasitas yang tersedia, 31,4 juta kubik meter dari 89 juta kubik meter.

(19)

Last week, the European Union parliament called for an investigation into Gazprom.

This company is accused of being the ringleader for the increase in gas prices in Europe because it is suspected that there is manipulation.

When gas supply is limited, power plants turn to coal as a primary energy source.

The demand for coal has increased again, so it's no wonder the price has skyrocketed.

CNBC INDONESIA RESEARCH TEAM (aji/aji)

Pekan lalu, parlemen Uni Eropa meminta penyelidikan terhadap Gazprom. Per- usahaan ini dituding menjadi biang keladi kenaikan harga gas di Eropa karena ditengarai ada manipulasi.

Saat pasokan gas terbatas, pembangkit listrik kembali beralih ke batu bara sebagai sumber energi primer. Permintaan batu bara kembali meningkat, jadi tidak heran harganya melesat. TIM RISET CNBC INDONESIA (aji/aji)

Indonesia’s Coal Barons Reap Windfall From Rising Demand

Forbes Asia Team | Forbes Staff

I

NDONESIA’s mining barons benefited as China saw its coal supplies disrupted by cold weather and a trade spat with Australia, stoking demand for the fuel. Prices spiked to all-time highs, causing the fortunes of Indonesia’s coal producers to soar.

“Financial results of coal miners are improving in line with the rising coal price,” says Dessy Lapagu, an analyst at Samuel Sekuritas Indonesia. “That lifted the share price of coal companies.”

Adaro Energy’s revenue rose over 30% in the first nine months to $2.6 billion from a year earlier, while operational Ebitda grew 70% to $1.2 billion. A 38% jump in Adaro’s shares over the last 12 months has boosted the wealth of its key stakeholders.

CEO Garibaldi Thohir saw his net worth increase 58% to $2.6 billion, president commissioner Edwin Soeryadjaya more than doubled his to $1.51 billion, vice president commissioner Theodore Rachmat by 78% to $2.84 billion, and board commissioner Arini Subianto by 60% to $975 million. However, the coal-price surge hasn’t derailed Adaro’s plans to diversify into clean energy. “In the next 10 years, I hope renewable energy can account for 50% of the company’s revenue stream,” says Thohir.

Harum Energy founder Kiki Barki returns to the list after a fourfold rise in the price of the coal producer’s shares this year lifted his net worth to $1.6 billion. The stock’s recent ascent started in mid-2020 after Harum acquired a 3.2% stake in Australia-listed Nickel Mines, which it has since increased to 6.7%.

While some coal miners have been diversifying in anticipation of diminishing prospects for fossil fuels, Hendra Sinadia, executive director of the Indonesian Coal Mining Association, says it’s too early to write off the commodity. “I expect demand from power generators to remain strong at least in the next four decades considering it’s still the most affordable fuel for electricity,” he says.

(20)

Elsewhere, Bayan Resources shares rose over 80% in the last 12 months, doubling the wealth of founder Low Tuck Kwong to $2.55 billion. Bayan’s revenue climbed over 70% in the first nine months to $1.7 billion and Ebitda grew fourfold to $967 million. The company, which exports most of its output, is one of the biggest beneficiaries of high coal prices, notes Fauzan Luthfi Djamal, an analyst at RHB Sekuritas Indonesia.

However, coal prices have retreated significantly from their peak after Chinese regulators cracked down on speculative bets in thermal coal futures. Australia’s Newcastle coal price, a global benchmark, has dropped 33% from a record $259 per tonne reached on Oct. 5.

China Coal Output Hits Record in Nov to Ensure Winter Supply

By Reuters

C

HINA's coal output hit a record high in November as Beijing urged miners to ramp up production to ensure sufficient energy supplies in the winter heating season.

China, the world's biggest coal miner and consumer, produced 370.84 million tonnes of the dirty fossil fuel last month, data from the National Bureau of Statistics showed on Wednesday.

That compares to a previous record of 357.09 million tonnes set in October and was up 4.6%

from the same period last year.

For the first 11 months of 2021, output reached 3.67 billion tonnes, up 4.2% on last year.

The central government has repeatedly stressed the need to ensure supplies of energy, including coal and natural gas, for heating and power generation over the winter period.

Coal miners have been ordered by authorities since October to run at maximum capacity as Beijing strived to tame red-hot coal prices and prevent a recurrence of September's nationwide power crunch that disrupted industrial operations and added to factory gate inflation.

Coal prices, however, have been supported by concerns that recent crackdowns on illegal mining in China's top coal producing region could limit the country's ability to boost its output.

The most-active thermal coal futures contract held steady on Wednesday, up 0.1% to 717.8 yuan a tonne, less than half the record high it hit in mid-October.

(Reporting by Muyu Xu and Dominique Patton; Editing by Shri Navaratnam, Ana Nicolaci da Costa and Lincoln Feast)

(21)

Copper Mountain climbs aboard $836m Eva mine

Henry Ballard

C

OPPER Mountain Mining Corporation has approved the beginning of development at the Eva copper project in Queensland with commissioning planned for 2024.

The Canadian miner completed a feasibility study in the first half of 2020 and has now decided that its economics have improved enough to warrant some action.

The study found a combined proven and probable mineral reserve of about 780,000 tonnes of copper and 260,000 ounces of gold for an expected mine life of 15 years.

Copper Mountain president and chief executive officer Gil Clausen said increased metals prices had been a driving factor in the economic feasibility of the project, while inflated development costs were expected to settle toward 2024.

“The current inflationary environment prevalent globally, particularly for some material and labour supply in Queensland Australia, has resulted in some project capital cost escalation,”

Clausen said.

“We believe this impact will ease as the local economy opens fully after COVID-19 restrictions lift, materials flow regularly and labour pressures relax over the next six to 12 months.”

While the plan to construct the project has been approved, several conditions were stated by Clausen. These included 80 per cent completion of advanced engineering plans; securing project financing; and the lifting of COVID-19 restrictions in Queensland.

“Upon satisfaction of these items, the company will be able to fix a construction start date,”

Clausen said.

“We expect this detailed engineering work to require approximately six months to complete during which time the company will secure commitments on certain critical long lead-time equipment.”

Since the feasibility study was complete, capital costs to develop Eva have risen by 18.7 per cent to $836 million.

“Cost increases in steel, mechanical, concrete and construction labour were the most significant drivers in the higher capital costs, particularly in the processing area,” the company stated.

“Raw material and finished equipment costs have been impacted by shortages as COVID restrictions remain tight, especially in Queensland.”

Financing is expected to be secured by mid-2022, according to Clausen who said he looked forward to developing another important source of copper for an increasingly electrified society.

(22)

“We are excited to formally advance Eva, which is expected to add over 100 million pounds of copper production per year, given the ever increasing and important role copper will play in a green economy and the limited number of other copper projects currently in development globally,” Clausen said.

Eva is located 95 kilometres north east of Mt Isa in north west Queensland.

Russian coal sector posts record profits this year

Published by Simon Matthis

P

ROFITS of Russian companies from coal exports in January-October 2021 increased by 30.1% compared to the same period last year and amounted to US$13.26 billion, according to a recent report of the Russian Federal Customs Service (FCS).

At the same time, in volume terms, exports grew by only 9.1% to 174.7 million tons. The average export price increased in January-October by 19% from US$63.6 to US$75.9 per ton.

Coal prices in Europe began to rise sharply at the end of April 2021 due to increased demand for electricity caused by a post-covid recovery in consumption and stagnant production in China. Then the rise in prices was spurred on by the heat wave and gas shortages in European storage facilities.

That allowed Russian coal producers to significantly increase exports to the EU market.

Supplies to Europe in the first half of the year increased by 2.4% to 22.55 million tons. At the same time the demand from the Asia-Pacific states also increased - by 9% to 60.43 million tons. Exports to China increased by 49% to 24.15 million tons.

In 2020, according to the Federal Customs Service among the largest buyers of Russian coal were China - 37.7 million tons, South Korea - 26.7 million tons and Japan - 21.6 million tons.

By: Eugene Gerden

Antofagasta plans 20% increase in copper output by 2026

C

HILEAN miner Antofagasta expects its copper output to reach 900,000 tonnes by 2026, some 20% higher than currently, with growth coming mostly from exploration and possibly targeted acquisitions, its chief executive said on Tuesday.

Five-year production could reach around 900,000 tonnes of copper by 2026 if the second concentrator at its Centinela mine in Chile is approved by the board at the end of 2022, Chief Executive Iván Arriagada told investors during the annual Capital Markets Day.

(23)

The copper miner, whose earnings soared to a record $2.4 billion in the first half, had cut its copper output guidance for the year to between 710,000 tonnes and 740,000 tonnes from 730,000 tonnes to 760,000 tonnes, as operations were affected in 2021 by Chile's driest weather for 12 years.

Citi analysts said the increase in production was in line with expectations.

Antofagasta mines copper in Chile, Peru, the United States and Canada and is "currently looking for M&A opportunities at early-stage copper projects to work on, particularly in South America," said Andronico Luksic, vice president for development.

The London-listed miner, majority owned by Chile's Luksic family, has most of its assets in Chile, which is undergoing structural changes with the first presidential election race since widespread protests two years ago over inequality.

The Chilean lower chamber of Congress in May voted in favour of a royalties bill to pay for social programs during the COVID-19 pandemic involving a tax that would increase progressively alongside copper prices.

Copper prices broke records earlier this year and Chile, which produces nearly 30% of the world's output, largely maintained it even during the worst of the pandemic. The metal is essential in construction and electric vehicle manufacturing.

Antofagasta's share price closed 0.3% lower on Tuesday, underperforming most of its peers.

(Reporting by Clara Denina; Editing by David Gregorio)

One of the largest gold mines in Australia gets nod to increase processing capacity

By Vladimir Basov

T

OP-10 global gold producer Newcrest (TSX: NCM) said today it has received approval from the New South Wales Department of Planning, Industry & Environment (DPIE) for a modification to increase the permitted processing capacity of Cadia from 32Mtpa to 35Mtpa.

As previously announced, the Newcrest Board approved progression to execution of a two- stage expansion of Cadia, including an increase in plant capacity to 35Mtpa.

The company added that execution of the works for both stages of the expansion are currently in progress, with completion expected in the September quarter of calendar year 2022.

"The modification also provides approval for Newcrest to repair the slumped section of the Northern Tailings Storage Facility (NTSF) at Cadia and revise the footprint of the NTSF and Southern Tailings Storage Facility to allow for a change from an upstream to a centreline lift design," Newcrest said in a statement.

TABLE OF CONTENTS. No. Title Media Source Page