TABLE OF CONTENTS. No. Title Media Source Page

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Daily News Update Page 1

Timothy also observed that INCO is trying to improve the performance efficiency of the nickel smelter in Sorowako, such as stabilizing the smelter's electric current so that it can reach a maximum production capacity of 80 thousand tons per year, where currently the average production is only 73-75 thousand tons.

INCO will begin construction of the Rotary kiln electric furnace (RKEF) in Bahodopi with partners TISCO and Xinhai, as well as the High pressure acid leaching (HPAL) smelter project in Pomalaa with Sumitomo metal mining, in 2022, when the Final investment decision (FID) has been determined.

If it is agreed, Timothy estimates that the construction of the RKEF will take around 36 months, and the HPAL will take up to 60 months. RKEF is predicted to be operational in 2025, and HPAL can operate in 2027.

Timothy assessed, when it is operational, RKEF can produce 73 thousand tons per year, and HPAL can produce 70.8 thousand tons of mixed sulphide preciptate (MSP) which is the raw material for batteries.

"With the operation of the two mining sites, the company's production capacity has the potential to increase 3x to around 220 thousand tons in 2027," explained Timothy.

He considered that the development of the RKEF and HPAL was the right step, in line with the ban on nickel ore exports by the Indonesian government in 2022, in order to increase the value of Indonesia's exports.

“Namun, tingginya rerata harga komoditas nikel saat ini (+23,3% ytd) serta kuatnya pemintaan terlihat dari surplus stok nikel pada posisi terendah dalam 2 tahun terakhir dapat mengkompensasi sebagian dari turun- nya jumlah produksi hingga 2022,” kata Timothy dalam risetnya yang dirilis 16 September 2021.

Timothy juga mengamati, kalau INCO sedang berusaha meningkatkan efisiensi kinerja smelter nikel di Sorowako seperti mensta- bilisasi arus listrik smelter agar dapat mencapai kapasitas produksi maksimal di angka 80 ribu ton per tahun, di mana saat ini rata-rata produksi hanya mencapai 73-75 ribu ton.

INCO akan memulai pembangunan Rotary kiln electric furnace (RKEF) di Bahodopi bersama mitra TISCO dan Xinhai, serta proyek smelter High pressure acid leaching (HPAL) di Pomalaa bersama Sumitomo metal mining, pada tahun 2022, ketika Final investment decision (FID) telah ditentukan.

Jika telah disepakati, Timothy menaksir pembangunan RKEF akan memakan waktu sekitar 36 bulan, dan HPAL akan memakan waktu hingga 60 bulan. RKEF diprediksi akan dapat beroperasi pada 2025, dan HPAL dapat beroperasi pada 2027.

Timothy menilai, ketika sudah dapat beroperasi, RKEF dapat menghasilkan 73 ribu ton per tahun, dan HPAL dapat menghasilkan 70,8 ribu ton mix sulphide preciptate (MSP) yang merupakan bahan baku untuk baterai.

“Dengan beroperasinya kedua lokasi tambang tersebut, maka kapasitas produksi perseroan berpotensi meningkat 3x menjadi sekitar 220 ribu ton pada tahun 2027,” jelas Timothy.

Ia menilai, pembangunan RKEF dan HPAL merupakan langkah yang tepat, seiring dengan larangan ekspor bijih nikel oleh pemerintah Indonesia pada tahun 2022, guna meningkatkan nilai ekspor Indonesia.

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Timothy sees that until now the company's balance sheet continues to strengthen with available cash in the first semester of 2021 reaching US$ 426.5 million, or an increase of 47.4% yoy, and has relatively low interest debt at US$ 608 thousand in the first semester. 2021, thus making the company's net gearing in a net cash position.

This is in line with the company's plan to build 2 large RKEF and HPAL projects that will cost up to USD4 billion. Thus, the company can use the cash reserves to finance part of the project.

Timothy recommends buying with a target price of Rp 6,100 per share, indicating an EV/EBITDA of 11.5x in 2022. According to him, this is driven by the projected increase in INCO's capacity which could increase to three times by 2027.

In addition, the company's development that is environmentally friendly in order to reduce carbon emissions will be more attractive in the midst of high investor attention on ESG.

However, the risk is that the HPAL and RKEF developments are considered long- term projects with high costs amidst the volatility of nickel prices, and the company's declining nickel in matte production in 2021 also has the potential to stagnate in 2022.

Timothy melihat, hingga saat ini neraca perseroan terus menguat dengan kas yang tersedia pada semester I 2021 mencapai US$

426,5 juta, atau naik 47,4% yoy, serta memiliki hutang berbunga relatif rendah di angka US$ 608 ribu pada semester I/2021, sehingga membuat net gearing perseroan berada di posisi net cash.

Hal tersebut seiring dengan rencana perseroan untuk membangun 2 proyek besar RKEF dan HPAL yang akan memakan biaya hingga USD4 miliar. Sehingga, perseroan dapat menggunakan cadangan kas untuk mendanai sebagian dari proyek tersebut.

Timothy merekomendasikan beli dengan target harga Rp 6.100 per saham, mengindikasikan EV/EBITDA 11,5x di tahun 2022. Hal ini menurutnya didorong oleh proyeksi peningkatan kapasitas INCO yang dapat meningkat hingga tiga kali lipat pada tahun 2027.

Selain itu, pembangunan perseroan yang ramah lingkungan demi menurunkan karbon emisi akan semakin menarik di tengah tingginya perhatian investor akan ESG.

Akan tetapi, risiko terdapat dari pembangunan HPAL dan RKEF dinilai merupakan proyek jangka panjang dengan biaya yang tinggi di tengah volatilitas harga nikel, serta produksi nikel dalam matte perseroan yang menurun tahun 2021 juga berpotensi stagnan di tahun 2022.

Coal Prices Rise Again, Indonesia Will Be Happy!

Hidayat Setiaji, CNBC Indonesia

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OAL prices rose again. If this increase continues, it is not impossible that a new record will be created.

Harga Batu Bara Naik Lagi, Indonesia Pasti Happy!

Hidayat Setiaji, CNBC Indonesia

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ARGA batu bara kembali naik. Jika kenaikan ini terus berlanjut, maka bukan tidak mungkin rekor baru akan tercipta.

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Yesterday, the price of coal on the ICE Newcastle (Australia) market was recorded at US$ 178.5/ton. Up 0.28% from last weekend's closing position.

The day before, the price of the black stone rose 2.01%. So in two trading days, the price of this commodity shot up 2.29%.

However, the 2.29% price increase was not enough to drive coal prices to record records. To date, the record is still at US$

180.25/ton which was set on September 14, 2021. This is the highest price since at least 2008.

One of the factors driving the price of new bricks is the increase in the price of natural gas. Since the end of 2020 (year-to- date/ytd), gas prices at Henry Hub have skyrocketed by 95.94%.

When the price of gas is high, the cost of generating electricity with primary energy also increases. In Europe, for example, the cost of coal-fired power generation is EUR 61.58/MWh as of September 14, 2021.

While the cost of coal-fired power generation is EUR 44.41/MWh.

"The increase in gas prices makes coal competitive, thereby increasing demand for coal. Looking at the price of forwards contracts, it looks like this situation will last at least until early 2022," said Toby Hassall, an analyst at Refinitiv, in his research.

Indonesia, as the world's largest coal exporter, will certainly benefit from the upward trend in commodity prices. In July 2021, Indonesia's coal exports were recorded at 33.5 million tons, up 6.7%

compared to the same period the previous year (year-on-year/yoy).

The main export destination for Indonesian coal is China. Moreover,...

Kemarin, harga batu bara di pasar ICE Newcastle (Australia) tercatat US$ 178,5/

ton. Naik 0,28% dari posisi penutupan perdagangan akhir pekan lalu.

Sehari sebelumnya, harga si batu hitam naik 2,01%. Jadi dalam dua hari perdagagan, harga komoditas ini melesat 2,29%.

Akan tetapi, kenaikan harga 2,29% itu belum cukup untuk mengantar harga batu bara membukukan rekor. Sampai saat ini, rekor tersebut masih di US$ 180,25/ton yang tercipta pada 14 September 2021. Ini adalah harga tertinggi setidaknya sejak 2008.

Salah satu faktor pendorong harga baru bata adalah kenaikan harga gas alam. Sejak akhir 2020 (year-to-date/ytd), harga gas di Henry Hub meroket 95,94%.

Saat harga gas mahal, biaya pembangkitan listrik dengan energi primer itu jadi ikut menanjak. Di Eropa, misalnya, biaya pembangkitan listrik dengan batu bara adalah EUR 61,58/MWh per 14 September 2021. Sementara biaya pembangkitan listrik dengan batu bara adalah EUR 44,41/MWh.

"Kenaikan harga gas membuat batu bara menjadi kompetitif sehingga meningkatkan permintaan batu bara. Melihat harga kontrak forwards, sepertinya situasi ini masih akan bertahan setidaknya sampai awal 2022," sebut Toby Hassall, Analis Refinitiv, dalam risetnya.

Indonesia, sebagai eksportir batu bara terbesar di dunia, tentu diuntungkan dengan tren kenaikan harga komoditas ini.

Pada Juli 2021, ekspor batu bara Indonesia tercatat 33,5 juta ton, naik 6,7% dibandingkan periode yang sama tahun sebelumnya (year-on-year/yoy).

Negara tujuan ekspor utama batu bara Indonesia adalah China. Apalagi...

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Moreover, China is reluctant to buy coal from Australia due to strained relations between Canberra and Beijing. Indonesia's role as a major supplier of coal to China is even more vital. In July 2021, Indonesia's coal exports to China were 14.7 million tons, up 62.5% yoy. CNBC INDONESIA RESEARCH TEAM (aji/aji)

Apalagi China ogah membeli batu bara dari Australia karena hubungan Canberra- Beijing yang merenggang. Peranan Indonesia sebagai pemasok utama batu bara ke China pun semakin vital. Pada Juli 2021, ekspor batu bara Indonesia ke China adalah 14,7 juta ton, melejit 62,5% yoy.

TIM RISET CNBC INDONESIA (aji/aji)

Government Increases Value Added Mining Industry

Galuh Alkalis

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HE GOVERNMENT through the Ministry of Energy and Mineral Resources (ESDM) revealed that one of the important points mandated by Law Number 3 of 2020 concerning Mineral and Coal Mining is the increase in added value.

Director General of Mineral and Coal Ridwan Djamaluddin in the "Mineral for Advanced Technology" Webinar Series, said that currently the effort to increase added value that is being pushed by the Ministry of ESDM is the use of mining products for advanced industries.

"We want to go up a class, the mining industry wants to go up a class to enter advanced industries. That's the essence that we get from the law, so let's continue this effort together so that we can use mineral and coal resources in the country for advanced industries," said Ridwan.

He invited the younger generation and academics to participate in advancing the mining industry based on advanced technology.

Pemerintah Tingkatkan Nilai Tambah Industri Pertambangan

Galuh Alkalis

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EMERINTAH melalui Kementerian Energi dan Sumber Daya Mineral (ESDM) meng- ungkapkan bahwa salah satu poin penting yang diamanatkan oleh Undang-Undang No.3 Tahun 2020 tentang Pertambangan Mineral dan Batubara adalah peningkatan nilai tambah.

Direktur Jenderal Mineral dan Batubara Ridwan Djamaluddin pada Seri Webinar

“Mineral untuk Teknologi Maju”, mengatakan bahwa saat ini upaya peningkatan nilai tambah yang tengah didorong Kementerian ESDM adalah pemanfaatan produk pertambangan untuk industri maju.

“Kita mau naik kelas, industri pertambangan mau naik kelas untuk masuk ke industri maju. Itu esensi yang kita tangkap dari UU, jadi mari sama-sama kita lanjutkan upaya ini agar sumber daya mineral dan batubara di tanah air dapat kita manfaatkan untuk industri maju,” tutur Ridwan.

Ia mengajak generasi muda dan akademisi untuk ikut serta dalam memajukan industri pertambangan berbasis teknologi maju.

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“To the younger generation, students, researchers, we also encourage them to continue their activities, because it is impossible for us to advance to the high- tech industry from the mining industry, without adequate science and technology.

So let's gather strength together, unite our passion to advance the mining industry in the context of tonight's technology-based industry in Indonesia," he said.

On the occasion, Head of the Research and Technology Agency of the Chamber of Commerce and Industry (KADIN), Ilham Akbar Habibie, said that the future economy will be influenced and shaped by technology, innovation, and entrepreneur- ship which are needed to answer questions and needs that arise from current global megatrends. These are urbanization, climate change and resource scarcity, shifts in global economic power, demographic and social changes, and technological breakthroughs.

“Technology and related innovations in the context of megatrends, including new and renewable energy, are increasingly dominant, because climate change will change the face of the world. In addition, e- mobility, such as electric vehicles, will become the new norm in the future. Then, the use of aerospace technology is important and increasingly important," he explained.

Ilham again said that minerals are needed as basic materials for advanced industries, including battery technology, solar energy, aerospace, to digital manufacturing.

"With the support of technology, where metal is one of the supporting materials, an area can become independent and create a greener future," he said.

“Kepada generasi muda, mahasiswa, para peneliti, kami dorong juga untuk terus berkegiatan, karena tidak mungkin kita naik kelas ke industri teknologi tinggi dari industri pertambangan, tanpa ilmu penge- tahuan dan teknologi memadai. Jadi mari sama-sama kita galang kekuatan, padukan semangat kita untuk memajukan industri pertambangan dalam konteks malam ini industri berbasis teknologi di Indonesia,”

katanya.

Dalam kesempatan tersebut, Kepala Badan Riset dan Teknologi Kamar Dagang dan Industri (KADIN), Ilham Akbar Habibie, mengatakan bahwa perekonomian masa depan akan dipengaruhi dan dibentuk oleh teknologi, inovasi, dan kewirausahaan yang dibutuhkan untuk menjawab pertanyaan dan kebutuhan yang muncul dari megatrend global saat ini, yakni urbanisasi, perubahan iklim dan kelangkaan sumber daya, pergeseran kekuatan ekonomi global, perubahan demografi dan sosial, serta gebrakan teknologi.

“Teknologi serta inovasi yang terkait dalam konteks megatrend, di antaranya energi baru dan terbarukan, semakin dominan, karena perubahan iklim akan mengubah wajah dunia. Selain itu e-mobilitas, seperti kendaraan listrik akan menjadi norma baru di masa mendatang. Kemudian, penggunaan teknologi kedirgantaraan itu penting dan semakin penting,” paparnya.

Ilham kembali menuturkan, mineral di- perlukan sebagai bahan dasar industri maju, di antaranya teknologi baterai, energi surya, kedirgantaraan, hingga manufaktur digital.

“Dengan dukungan teknologi, di mana logam merupakan salah satu bahan pen- dukungnya, suatu daerah dapat menjadi mandiri dan menciptakan masa depan yang lebih hijau,” tuturnya.

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Adaro Distributes 40 Oxygen Concentrators in Batang

Editor: Gita Amanda

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IMITED Liability Company Adaro Energy Tbk (Adaro), through the program "Adaro Struggles for Indonesia" distributed 40 oxygen concentrators to 15 health centers, hospitals, and health facilities in Batang Regency, Central Java, Monday (20/9).

Director of PT Bhimasena Power Indonesia Djoko Budi Santoso in Batang, Monday, said that the distribution of oxygen concentrator assistance is a form of PT Adaro's commitment to continue to fight and support the government in handling the Covid-19 pandemic in Indonesia.

"Adaro is committed to always being present and playing an active role in assisting the government in tackling the Covid -19 pandemic. On this occasion, we provide moral and material support in the form of oxygen concentrators to further complement the needs of hospitals and other health facilities in handling Covid-19 patients," he said.

Djoko Budi Santosa as a representative of PT Adaro said PT Adaro in collaboration with the Satriabudi Dharma Setia Foundation (YSDS) provided assistance with 1,000 oxygen concentrators worth Rp 12.6 billion to be distributed to hospitals and clinics spread across several regions in Indonesia.

PT Adaro hopes that this support can ease the burden on the local government and the people of Batang Regency in efforts to handle the spread of Covid-19.

"The Batang Regency is the operational area of PT Bhimasena Power Indonesia, which is a consortium of Adaro, J-Power, and Itochu to manage and operate the Central Java PLTU with a capacity of 2 x 1,000 MW," he said.

Adaro Salurkan Bantuan 40 Konsentrator Oksigen di Batang

Redaksi: Gita Amanda

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ERSEROAN Terbatas Adaro Energy Tbk (Adaro), melalui program "Adaro Berjuang untuk Indonesia" menyalurkan bantuan 40 konsentrator oksigen kepada 15 puskesmas, rumah sakit, dan fasilitas kesehatan di Kabupaten Batang, Jawa Tengah, Senin (20/9).

Direktur PT Bhimasena Power Indonesia Djoko Budi Santoso di Batang, Senin, mengatakan bahwa penyaluran bantuan konsentrator oksigen ini sebagai wujud komitmen PT Adaro untuk terus berjuang dan mendukung pemerintah dalam penanganan pandemi Covid-19 di Indonesia.

"Adaro berkomitmen untuk senantiasa hadir dan berperan aktif dalam membantu pemerintah dalam menanggulangi pandemi Covid- 19. Pada kesempatan ini, kami memberikan dukungan moril dan materiil berupa alat konsentrator oksigen untuk semakin meleng- kapi kebutuhan rumah sakit dan fasilitas kesehatan lainnya dalam menangani pasien Covid-19," katanya.

Djoko Budi Santosa sebagai perwakilan dari PT Adaro mengatakan PT Adaro bekerja sama dengan Yayasan Satriabudi Dharma Setia (YSDS) memberikan bantuan 1.000 konsentrator oksigen senilai Rp 12,6 miliar untuk didistribusikan kepada rumah sakit dan klinik yang tersebar di beberapa wilayah di Indonesia. PT Adaro berharap, dukungan yang berikan ini dapat meringankan beban pemerintah daerah maupun masyarakat Kabupaten Batang dalam upaya penanganan penyebaran Covid-19.

"Kabupaten Batang adalah wilayah operasi- onal PT Bhimasena Power Indonesia yang merupakan konsorsium dari Adaro, J-Power, dan Itochu untuk mengelola dan mengoperasi- kan PLTU Jawa Tengah berkapasitas 2 x 1.000 MW," katanya.

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Adaro ensures that the oxygen concentrator meets the criteria for ease of patient handling, which is easy to move and transport to the patient's location, does not require complex handling, and does not need to be refilled. The Regent of Batang Wihaji expressed his gratitude to PT Adaro for the assistance of 40 oxygen concentrators for handling Covid-19 in the local area.

"We appreciate the contribution and synergy of PT Adaro to Batang Regency in handling Covid-19. We will provide this assistance to 15 health centers, hospitals, and health facilities in this area," he said.

Source: ANTARA

Adaro memastikan konsentrator oksigen ini telah memenuhi kriteria kemudahan dalam penanganan pasien, yaitu mudah di- pindahkan dan dibawa ke lokasi pasien, tidak perlu penanganan yang kompleks, serta tidak perlu diisi ulang. Bupati Batang Wihaji menyampaikan ucapan terima kasih kepada PT Adaro atas bantuan 40 konsentrator oksigen untuk penanganan Covid-19 di daerah setempat.

"Kami mengapresiasi kontribusi dan sinergi PT Adaro kepada Kabupaten Batang dalam penanganan Covid-19. Bantuan ini akan kami berikan pada 15 puskesmas, rumah sakit, serta fasilitas kesehatan yang ada di daerah ini," katanya. Sumber: ANTARA

Mine Waste Can Be Used To Produce Hydrogen Fuel

Author: Edo Fernando, Editor: Ocky PR.

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UEENSLAND University of Technology researchers have found a way to use mining waste as part of a potentially cheaper catalyst for hydrogen fuel production.

The team led by Ziqi Sun and Hong Peng published the findings in the journal Advanced Energy & Sustainability Research. In the article, they explain that, usually, a water splitting reaction that produces hydrogen is triggered using platinum, iridium and ruthenium. Cheaper but less active metals such as cobalt, nickel and iron are also used.

They proposed a new catalyst idea that required only small amounts of this reactive metal and combined it with feldspar, an aluminosilicate rock mineral...

Limbah Tambang Bisa

Digunakan Untuk Memproduksi Bahan Bakar Hidrogen

Penulis: Edo Fernando, Editor: Ocky PR.

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ARA peneliti Universitas Teknologi Queens- land telah menemukan cara untuk menggunakan limbah pertambangan sebagai bagian dari katalis potensial yang lebih murah untuk produksi bahan bakar hidrogen.

Tim yang dipimpin oleh Ziqi Sun dan Hong Peng mempublikasikan temuan ini dalam jurnal Advanced Energy & Sustainability Research.

Dalam artikel tersebut, mereka menjelaskan bahwa, biasanya reaksi pemisahan air yang menghasilkan hidrogen dipicu menggunakan platinum, iridium dan rutenium. Logam yang lebih murah tetapi kurang aktif seperti kobalt, nikel dan besi juga digunakan.

Mereka mengusulkan ide katalis baru yang hanya membutuhkan sejumlah kecil logam reaktif ini dan dikombinasikan dengan feldspar, mineral batuan aluminosilikat...

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an aluminosilicate rock mineral found in mining waste that some companies pay around $30 per tonne to dispose of.

Feldspar makes up about 60% of the Earth's crust.

In a series of experiments, the scientists triggered a water splitting reaction using nano-coated feldspars heated with only 1- 2% of the cheaper reactive metal.

“Separation of water involves two chemical reactions, one with a hydrogen atom and one with an oxygen atom to separate the two. This new nano-coated material triggers the oxygen evolution reaction, which controls the overall efficiency of the entire water separation process," said Ziqi Sun.

According to Sun, the cobalt-coated feldspars are highly efficient and capable of optimizing new catalysts that can allow them to outperform the raw metal or even match the superior efficiency of platinum metal. He also said aluminosilicates are chemically inert, but heat can cause defects that are useful for chemical reactions and electron transport.

In his view, the new catalyst has the potential to lower the cost of lithium-ion batteries and other sustainable energy solutions that rely on electrochemical conversion. This is why they are now looking at ways to test the catalyst at a pilot scale.

“The abundance of aluminosilicates in Australia and the simplicity of this modification process should make industrial-scale production of this new catalyst easily achievable. Companies like Tesla have the potential to use this technology for energy production, advanced energy storage solutions such as new battery technologies, and renewable fuels,” added Sun.

mineral batuan aluminosilikat yang ditemu- kan dalam limbah pertambangan yang beberapa perusahaan membayar sekitar USD30 per ton untuk membuangnya.

Feldspar membentuk sekitar 60% kerak bumi.

Dalam serangkaian percobaan, para ilmuwan memicu reaksi pemisahan air menggunakan feldspars nano-coated yang dipanaskan dengan hanya 1-2% dari logam reaktif yang lebih murah.

“Pemisahan air melibatkan dua reaksi kimia, satu dengan atom hidrogen dan satu dengan atom oksigen untuk memisahkan keduanya.

Bahan berlapis nano baru ini memicu reaksi evolusi oksigen, yang mengontrol efisiensi keseluruhan dari seluruh proses pemisahan air,” kata Ziqi Sun.

Menurut Sun, feldspar berlapis kobalt sangat efisien dan mampu mengoptimalkan katalis baru yang dapat membuat mereka meng- ungguli logam mentah atau bahkan menyamai efisiensi superior logam platinum. Dia juga mengatakan aluminosilikat merupakan inert kimiawi, tetapi panas bisa menyebabkan kecacatan yang berguna untuk reaksi kimia dan transportasi elektron.

Dalam pandangannya, katalis baru berpotensi menurunkan biaya baterai lithium- ion dan solusi energi berkelanjutan lainnya yang mengandalkan konversi elektrokimia.

Inilah sebabnya mengapa mereka sekarang mencari cara untuk menguji katalis pada skala percontohan.

“Melimpahnya aluminosilikat di Australia dan kesederhanaan proses modifikasi ini seharusnya membuat produksi skala industri katalis baru ini mudah dicapai.

Perusahaan seperti Tesla berpotensi menggunakan teknologi ini untuk produksi energi, solusi penyimpanan energi canggih seperti teknologi baterai baru, dan bahan bakar terbarukan,” tambah Sun.

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China's imports sluggish, tin prices weaken

Robertus Andrianto, CNBC Indonesia

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HE WORLD tin price corrected up to one percent following investors' profit-taking and the release of tin import data showing sluggish tin demand from China.

On Monday (20/9/2021) at 15:20 WIB, the world tin price was recorded at US$

33,872.50/ton. Down 1.02% compared to last weekend's position.

China's General Administration of Customs Agency reported a decline in imports of pure tin and its concentrates. China's refined tin imports in August 2021 amounted to 44 tons. This amount decreased by 67.49% month-to-month (mom) compared to July 2021. When compared to imports in August 2021, imports of refined tin fell by up to 87.36%

year-on-year (yoy).

Meanwhile, China's concentrate imports in August 2021 were recorded at 15,557 tons.

Down 18.27% compared to July 2021 (month-to-month/mom). Compared to August 2020, the panda country's imports of tin concentrate rose 92.47% year-on- year (yoy).

This data shows a weakening of Chinese demand in August 2021 compared to July 2021. This decline is in line with China's manufacturing and industrial activities which slowed down in August 2021. CNBC INDONESIA RESEARCH TEAM (ras/ras)

Impor China Lesu, Harga Timah Melemah

Robertus Andrianto, CNBC Indonesia

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ARGA timah dunia terkoreksi hingga satu persen menyusul aksi ambil untung investor dan rilis data impor timah yang menunjukkan permintaan timah dari China yang lesu.

Pada Senin (20/9/2021) pukul 15:20 WIB harga timah dunia tercatat US$ 33.872,50/

ton. Turun 1,02% dibanding posisi akhir pekan kemarin.

Lembaga Administrasi Umum Kepabeanan China melaporkan penurunan impor timah murni dan konsentratnya. Impor timah murni (refined tin) China pada bulan Agustus 2021 sebesar 44 ton. Jumlah ini turun 67,49% month-to-month (mom) di- bandingkan dengan bulan Juli 2021. Jika dibandingkan dengan impor Agustus 2021, impor timah yang dimurnikan jatuh dalam hingga 87,36% year-on-year (yoy).

Sementara itu impor konsentrat China pada Agustus 2021 tercatat 15.557 ton.

Turun 18,27% dibanding bulan Juli 2021 (month-to-month/mom). Dibandingkan dengan Agustus 2020, impor konsentrat timah negeri panda ini naik 92,47% year- on-year (yoy).

Data ini menunjukkan adanya pelemahan permintaan China pada bulan Agustus 2021 dibandingkan Juli 2021. Penurunan ini sejalan dengan kegiatan manufaktur dan industri China yang melambat pada Agustus 2021. TIM RISET CNBC INDONESIA (ras/ras)

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Copper price at 1-month low on global sell-off as Evergrande crisis intensifies

MINING.COM Staff Writer

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OPPER prices fell to one-month lows on Monday as traders tracked the risk of contagion from the debt crisis at developer Evergrande, which is fueling new fears about China’s growth path.

Copper for delivery in December fell 3% from Friday’s settlement price, touching $4.116 per pound ($9,166 per tonne) midday Monday on the Comex market in New York. Benchmark copper on the London Metal Exchange earlier touched $9,052.50 a tonne, the lowest since Aug. 20.

The property giant has started to repay investors in its wealth management business with property this week while struggling to meet the interest payments on its debts.

The company’s deepening debt problems have triggered fears over the impact its potential collapse could have on China’s economy.

Major banks have reportedly been told that they won’t receive interest payments on loans that are due Monday, while interest payments of $84 million on the firm’s bonds are also due on Thursday.

“Copper prices are falling in sympathy with risk-off trading and weak sentiment because of Evergrande,” said Giles Coghlan, analyst at broker HYCM.

“It is a concern in the short term, but I don’t think it is going to be another crisis like Lehman’s because of the high level of down payments you need to make in China for property.”

Copper prices also slipped as the dollar rose before Wednesday’s Fed meeting, where policymakers are expected to start laying the groundwork for paring stimulus.

Aside from Evergrande and the prospect of reduced Fed stimulus, financial markets also face risks from uncertainty over the outlook for President Joe Biden’s $4 trillion economic agenda as well as the need to raise or suspend the US debt ceiling.

“The edges of the bullish narrative cover are being pulled and the darker underlying reality is coming to the fore,” said Sebastien Galy, a senior macro strategist at Nordea Investment Funds SA.

“It is taking the market more time to price in these shocks than I had expected, and the market is far more realistic as the buy-on-dip mentality fades with the fear of inflation.”

(With files from Reuters and Bloomberg)

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Indonesia clings to coal despite green vision for economy

By: Reuters

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VEN as Indonesia wins cautious praise from some green groups for ambitious plans to cut carbon emissions, the world's biggest exporter of thermal coal shows no sign of weaning itself off the polluting fuel any time soon.

Indonesia, the eighth-biggest carbon emitter, recently brought forward its goal for net zero emissions from 2070 to 2060 or sooner, ahead of the United Nations Climate Change Conference in Glasgow in November, and joined a US-led Global Methane Pledge.

It also plans to stop commissioning new coal-fired power plants and phase out coal for electricity by 2056 under a new, greener long-term economic vision.

But - as with other coal producers such as Australia and India - Indonesia is wrestling with how to balance its environmental targets with the cost of pulling the plug on an industry that contributed $38-billion in export earnings in the first seven months of 2021.

"We are phasing out coal power plants. But if you ask whether we're closing down mines, we have the coal and there are other utilisation options," Dadan Kusdiana, the energy ministry's head of renewable energy, told Reuters.

The UN's climate change report warned that global warming was dangerously close to being out of control in what has been described as "a death knell for coal and fossil fuels".

Still, Indonesia is exploring ways to keep consuming and extracting value from coal by using carbon capture and storage (CCS) technology, although environmentalists say CCS is unproven and expensive.

COAL GASIFICATION

With nearly 39-billion tonnes of reserves, coal remains the economic backbone of parts of Indonesia and miners are among the biggest taxpayers.

The government has been encouraging miners to invest in production of dimethyl ether (DME) from coal. Under new laws passed in 2020, it no longer requires them to pay royalties to the government on such processes, and their mine permits can be extended.

It has touted DME as a replacement for imported liquefied petroleum gas and a feed stock for chemicals and fertilizer.

Making DME requires burning coal, so it needs to be paired with CCS to be environmentally friendly, Dadan said.

However, if Indonesia can adopt CCS more widely and cheaply, the technology could also be applied to coal power plants, extending their usage, he said.

"This appears like a win-win move to accommodate all sides because they don't dare to firmly shut down coal completely," said Egi Suarga of the World Resources Institute Indonesia.

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He said that although using CCS technology is feasible, there is risk of leakage in trying to capture emissions from burning and mining coal.

RECORD PRICE

Coal power generation is Indonesia's second-biggest emissions source after deforestation, contributing 35% of its 1 262 gigatonnes of CO2 equivalent a year, government data showed.

Indonesia consumes about 130-million tonnes of coal annually to fuel 60% of its 73 GW electricity capacity, and exports about three times that amount.

Renewable sources like solar, hydro and geothermal make up just 11% of its energy mix, even though experts say Indonesia has 400 GW of renewable potential.

The government has pledged to increase the renewable share to 23% by 2025. Still, data from energy think-tank IEEFA shows that about 16 GW of new coal power capacity is expected to come online between 2021 and 2030.

"Because all the demand in Java and Bali has been met by coal, and there is even an oversupply, that is effectively killing renewable energy," said Adhityani Putri, executive director of the Indonesia Cerah Foundation.

Coal power remains the cheapest option, costing about 600 rupiah (4.22 U.S. cents) per kilowatt-hour (kWh) last year, versus gas at about 1,600 rupiah per kWh and geothermal at 1,100 rupiah per kWH, the state utility data showed.

Cerah and other green groups have campaigned to retire coal plants early, but officials have said this could trigger fines for breaching contracts with independent power producers.

Meanwhile, coal prices hit all-time highs this year, helping Indonesia book record exports and a trade surplus in August. The government raised its 2021 coal output target by 14% to 625 million tonnes to cash in.

On the flip side, parliament is reviewing a government-proposed carbon tax, and Indonesia has ambitious plans to use its nickel reserves to become a production hub for batteries and electric vehicles.

As an archipelago, Indonesia is aware of its vulnerability to climate change, but policies must consider economic developments, including the future of coal and the jobs it provides, Finance Minister Sri Mulyani Indrawati said.

"If you don't think about things like this, the people could get lost in all of these transitions and it could become a social problem," she told Reuters, citing how anger over U.S. coal mine closures created "populist" voters.

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Austin Engineering to supply five underground mining chute structures from PT Freeport Indonesia’s Grasberg

Posted by Paul Moore

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LOBAL mining equipment design and manufacturer, Austin Engineering Ltd says it has recorded circa A$30 million in new contract wins in August 2021 for product and service delivery in Australia, USA, Indonesia and Chile. Notably, Austin has won a A$4.5 million underground mine products contract to supply five underground mine chute structures to PT Freeport Indonesia’s copper-gold operations at Grasberg, Tembagapura, Papua, Indonesia.

The chutes are made under license by Austin following previous successful programs. A statement said that the contract “exemplifies Austin’s determination, under phase three of its recently announced global strategy, to broaden its range of mining products, beyond its traditional offering.” The structures will be manufactured at Austin’s Batam facility in Indonesia. Early works have commenced, with completion targeted in the current calendar year.

In Chile, Austin has won a A$10 million, three-year mining equipment support contract with KGHM for supply of truck bodies and buckets to its Sierra Gorda open-pit copper and molybdenum mine.

Austin has also won contracts to supply truck bodies and other equipment to leading mining services companies including NRW Civil & Mining (NRW) and Perenti Global Ltd which will be manufactured at Austin’s Kewdale facility in Perth. It is the first contract Austin has signed with NRW.

In August, Austin received contracts for 27 truck bodies, five ore chutes and three water tanks, plus other equipment. The contract wins add strength to Austin’s order book. The company says it remains bullish on the performance outlook for the Asia Pacific region, which contributed almost 70% of business revenues in FY2021. Austin has recorded a positive start to the year in Chile but reports continued weakness in North America.

Austin CEO and Managing Director, David Singleton said: “We are buoyed to have recorded such a strong month of contract wins around the globe, including a new customer in NRW Holdings. We are delivering the highest quality mining equipment with proven efficiency gains for customers, and at competitive pricing. We are expecting strong order flow to continue through this half of the year.”

He adds: “The mine chute structure contract with Freeport Indonesia reflects Austin’s increasing focus on new products and adjacent value streams. This is in line with our global strategy to employ more innovation and technology-led design solutions for our customers, and add further products to our suite in coming years. Under our strategy, we have commenced manufacturing upgrades to our Kewdale facility to improve quality and efficiency, with upgrades to the Batam facility to follow.”

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Mining stocks carnage as iron ore, copper prices fall

MINING.COM Staff Writer

I

RON ore extended its slump below $100 a tonne and copper prices dropped in New York on Monday as China stepped up restrictions on industrial activity and fears about the collapse of the country’s largest property developer intensified.

According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $92.98 a tonne, down 8.7% from Friday’s closing. Prices have collapsed about 60% since hitting a record in May, and are below three figures for the first time in more than a year.

China produces more steel than the rest of the world combined and Beijing is implementing production curbs this year as it works toward a target of reaching carbon neutrality by 2060.

Copper for delivery in December fell 3% from Friday’s settlement price, touching $4.116 per pound ($9,166 per tonne) midday Monday on the Comex market in New York, a month low.

Copper prices hit a record high of more than $10,500 a tonne in May.

Chinese property giant Evergrande is weighed down by a $300 billion debt burden and a collapse could send ripple effects across the sector. In Hong Kong, the Hang Seng property index fell to its lowest since 2016 . The Chinese real estate and building sectors are the main driver of steel consump- tion and also accounts for roughly a fifth of copper demand.

Top mining companies were caught up in the turmoil on equity markets with heavy-volume declines across the board.

Global number three iron ore and number two copper producer BHP fell 3.4% in New York, bringing its Q3 slump to over 26%. Rio Tinto fell nearly 4% while Vale, which vies with the Anglo-Australian giant as top iron ore producer, was down 6.4%. Rio de Janeiro-based Vale has shed a third of its value since end-June while Rio has given up 22%.

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Anglo American ADRs trading in New York fell nearly 6%, bringing losses over just the past month to 20%. Units of Glencore trading on US markets declined 5.5% but the Swiss-based miner and commodities trader, unlike its peers managed to remain in positive territory for the quarter.

MetRes delivers first coal at Millennium

Tom Parker

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ETRES and associated company M Mining have struck first coal from their Mavis Downs pit at the Millennium mine in central Queensland.

The achievement comes after MetRes completed its acquisition of the Millennium and Mavis Downs mine in July, before mining commenced a month later.

According to M Mining owner and director Matt Latimore, the metallurgical coal is validation for his company’s hard work.

“Since commencing operations in August with an innovative mine restart plan, this has been an important early production milestone for us,” Latimore said.

“Achieving first coal so quickly is the result of a fantastic effort from our partners, suppliers, managers and workforce.”

It was first announced the mine would be acquired from Peabody Energy in April.

“Since announcing the acquisition of Millennium in April we have said that this will be a low capital, fast to market asset, producing high-quality coal,” Latimore continued.

“In the nine weeks since completion of the sale of Millennium mine, M Mining has established a strong operating team and issued $464 million in contracts for auger, auger support, open cut and underground.

“Our work is underwriting the future growth of this operation, economic activity and local employment opportunities.

The milestone came a day after a new historic high of US$380/tonne ($523/tonne) was recorded for Australian hard coking coal.

The next step for M Mining is to commence open cut mining at Millennium by November.

When the sale was completed in July, Latimore said the project was evolving nicely from an operational perspective, revealing the initial hopes was first coal by next month.

“We are well advanced towards operational recommencement, initially by open cut and auger production for delivery of product to market in October 2021,” he said.

“Rail and port contracts have been executed and we are experiencing strong enquiry for our high-quality met coal.”

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Hindustan Copper undertakes projects to increase output, mining capacity

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TATE-owned Hindustan Copper is taking requisite actions to increase the output from its mines and is also in the process of augmenting the mining capacity through expansion projects. The company during 2010-11 had envisaged increasing the mine production capacity from 3.4 million tonne per annum (MTPA) to 12.2 MTPA. This was subsequently revised to 20.2 MTPA in order to boost domestic production of copper metal to reduce dependence on imports.

The expansion plan will be implemented in a phased manner and in the first phase, a capacity up to 12.2 MTPA would be targeted. It would be scaled up to 20.2 MTPA in the second phase.

"To augment production from mines, the company is taking requisite action and is also in the process of enhancing the mining capacity through ongoing mine expansion projects. Against the contract awarded for taking ore production from underground mine at Malanjkhand Copper Project (MCP) through decline route, the contractor has built up the infrastructure and development work is in progress," Hindustan Copper said in its annual report 2020-21.

"MCP underground expansion project has achieved an important milestone i.e. completion of excavation of 1500 m long drive and connection of tunnel ends of north and south sections of the mine...," it said.

Under the leadership of Hindustan Copper CMD Arun Kumar Shukla, up to 10 per cent stake sale in Hindustan Copper got off to a good start on Thursday with institutional investors putting in bids of over Rs 700 crore.

As against the over 4.35 crore shares on offer, institutional investors put in bids for more than 6.14 crore shares, or 1.41 times the offer size, according to the NSE data.

During 2020-21, the turnover of the company was Rs 1,760.84 crore as against Rs 803.17 crore during FY 2019-20, registering an increase of 119 per cent.

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