TABLE OF CONTENTS. No. Title Media Source Page

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Daily News Update Page 1

positif tren kenaikan harga batubara global yang terjadi belakangan ini. Sebagaimana diketahui, harga batubara ICE Newcastle untuk kontrak Juli 2021 telah berada di level US$ 99,4 per ton pada perdagangan Jumat (14/5). Bahkan, harga batubara sempat menembus level US$ 102,55 per ton pada Kamis (13/5).

Sekretaris Perusahaan PTBA Apollonius Andwie C. menyebut, kenaikan harga batu-bara yang dibarengi oleh penambahan kuota produksi batubara nasional oleh pemerintah pada dasarnya menjadi kesempatan bagi PTBA untuk meningkat-kan produksinya.

Asal tahu saja, Kementerian ESDM meng-kerek target produksi batubara nasional di tahun 2021 dari 550 juta ton menjadi 625 juta ton.

PTBA sempat menargetkan produksi batu-bara sebanyak 29,5 juta ton di tahun ini, lalu menaikkannya menjadi 30 juta ton. PTBA pun masih membuka peluang untuk meningkatkan kembali produksi batubara-nya di sisa tahun ini.

“Saat ini kami sedang menjajaki dengan Kementerian ESDM untuk mendapatkan peluang lebih besar,” ujar Pollo, Senin (17/5).

Sekadar catatan, dalam tiga bulan pertama 2021, PTBA mampu memproduksi batu-bara sebesar 4,5 juta ton dengan penjualan sebesar 5,9 juta ton.

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PTBA management claims that its sales are starting to show positive signals amidst the national economic recovery. The domestic market is still the main contributor to PTBA's coal sales. PTBA's coal sales in the domestic market are also strengthened by the presence of an alumina smelter in Bintan, so the company supplies coal there. "For exports, it has improved relatively well, and has even been fully booked. One of the markets for our expansion is the Philippines,” said Pollo.

He also commented on the development of the coal gasification project into PTBA's Dimethyl Ether (DME) together with PT Pertamina (Persero) and Air Products & Chemicals, Inc (APCI). On Tuesday, 11 May 2021, PTBA, Pertamina and APCI signed the DME Development Cooperation Agreement Amendment.

Pollo said that his party was following up on the signed agreement to be finalized. This stage was carried out before PTBA underwent the pre-construction process for the DME project in Tanjung Enim, South Sumatra.

The DME project itself will be carried out for 20 years. Foreign investment brought in from APCI in this project reached US$ 2.1 billion or the equivalent of Rp. 30 trillion. With the utilization of 6 million tons of coal per year, this project can produce 1.4 million DME per year and reduce LPG imports by 1 million tons per year.

Manajemen PTBA mengklaim, penjualan-nya mulai menunjukkan sipenjualan-nyal positif di tengah pemulihan ekonomi nasional. Pasar domestik sampai saat ini masih menjadi kontributor utama penjualan batubara PTBA. Penjualan batubara PTBA di pasar domestik juga diperkuat oleh kehadiran smelter alumina di Bintan, sehingga per-usahaan ini memasok kebutuhan batubara di sana.

“Untuk ekspor, relatif membaik juga bahkan sudah full booked. Salah satu pasar ekspansi kami adalah ke Filipina,” kata Pollo.

Dia juga mengomentari perkembangan proyek gasifikasi batubara menjadi Dimethyl Ether (DME) PTBA bersama dengan PT Pertamina (Persero) dan Air Products & Chemicals, Inc (APCI). Selasa, 11 Mei 2021 lalu, PTBA, Pertamina dan APCI menandatangani Amandemen Per-janjian Kerja Sama Pengembangan DME. Pollo menyebut, pihaknya sedang me-nindaklanjuti persetujuan yang telah ditandatangani tersebut untuk kemudian difinalisasi. Tahap ini dilakukan sebelum PTBA menjalani proses pra konstruksi proyek DME di Tanjung Enim, Sumatera Selatan.

Proyek DME sendiri akan dilakukan selama 20 tahun. Investasi asing yang didatangkan dari APCI dalam proyek ini mencapai US$ 2,1 miliar atau setara Rp 30 triliun. Dengan utilisasi 6 juta ton batubara per tahun, proyek ini dapat menghasilkan 1,4 juta DME per tahun dan mengurangi impor LPG sebanyak 1 juta ton per tahun.

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Bumi Resources Minerals

Recorded US$1.61 Million Profit

By: Ahmad Nabhani

I

N THE FIRST quarter of 2021, PT Bumi

Resources Minerals Tbk (BRMS) posted a net profit attributable to owners of the parent company of US$ 1.61 million. The acquisition increased by 880.41% compared to the US$ 165,057 profit the company obtained in the first quarter of 2020. This information was conveyed by the company in a financial report published in Jakarta yesterday.

The company said that profit growth was supported by a 37.13% increase in revenue to US$ 1.35 million compared to US$ 991,860 in the first quarter of 2020. In addition, BRMS also recorded other income of US$ 2.02 million compared to other expenses of US$ 726 in the same period the previous year. Meanwhile, BRMS revealed that the other income consisted of debt write-offs and inventory valuation.

If detailed, the debt write-off is revenue recorded due to efficiency and cost savings by the company due to the payment of invoices to contractors that are smaller than the previous estimated costs. Meanwhile, inventory valuation is income derived from additional ore stock piles left by previous illegal miners (Mining Without Permits/PETI).

From the production side, the production volume of dore bullion and gold increased to 50 kg respectively from the previous 5 kg and 24 kg from the previous 2 kg. CEO and President Director of Bumi Resources Minerals. Suseno Kramadibrata said,...

Bumi Resources Minerals Cetak

Laba US$ 1,61 Juta

Oleh: Ahmad Nabhani

D

I KUARTAL pertama 2021, PT Bumi

Resources Minerals Tbk (BRMS) membuku-kan laba neto yang dapat diatribusimembuku-kan kepada pemilik entitas induk sebesar US$ 1,61 juta. Perolehan itu melejit 880,41% di-bandingkan dengan laba US$165.057 yang didapatkan perseroan pada kuartal I/2020. Informasi tersebut disampaikan perseroan dalam laporan keuangan yang dipublikasi di Jakarta, kemarin.

Perseroan mengungkapkan, pertumbuhan laba didukung kenaikan 37,13% pada pos pendapatan menjadi US$1,35 juta diban-dingkan dengan US$991.860 pada kuartal I/2020. Selain itu, BRMS juga mencatatkan pendapatan lain-lain sebesar US$2,02 juta dibandingkan dengan beban lain-lain US$ 726 pada periode yang sama tahun sebelumnya. Adapun, BRMS mengungkapkan bahwa pendapatan lain-lain itu terdiri atas peng-hapusan utang dan penilaian persediaan.

Jika diperinci, penghapusan utang itu merupa-kan pendapatan yang dicatatmerupa-kan karena adanya efisiensi dan penghematan biaya oleh perseroan yang terjadi karena pelunasan tagihan kepada para kontraktor yang lebih kecil dari estimasi biaya sebelumnya. Sementara itu, penilaian persediaan merupakan pendapatan yang ber-asal dari tambahan persediaan bijih (ore stock pile) yang ditinggalkan oleh para penambang liar (Penambangan Tanpa Izin/PETI) sebelum-nya.

Dari sisi produksi, volume produksi dore bullion dan emas melejit menjadi masing-masing 50 kg dari sebelumnya 5 kg dan 24 kg dari sebelumnya 2 kg.

CEO dan Direktur Utama Bumi Resources Minerals, Suseno Kramadibrata mengatakan,...

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Suseno Kramadibrata said, apart from the increase in financial performance and production recorded in the first quarter of 2021, the company was actually able to record better achievements.

He explained that the revenue in the first quarter of 2021 did not include mining consulting services, so that 100% of the revenue came from gold production and sales. In addition, the global pandemic conditions have caused delays in the delivery of some spare parts from China for periodic maintenance of the existing factory facilities in Poboya, Palu. Therefore, the BRMS factory was forced to operate at only 70% capacity in the first half of 2021. However, some of the parts needed have now arrived and have been installed at the relevant factory. The company hopes to operate its existing factory at full capacity in May and June 2021.

“The company's revenue could actually be higher with the addition of mining consulting services. We hope to increase the company's revenue and net profit in the second half of this year with the operation of the existing factory at full capacity, processing of higher grade average gold ore, and potential revenue from mining consulting services," said Suseno.

On the other hand, BRMS will significantly increase gold production in the second quarter of 2022 along with the completion of the company's second factory in Poboya, Palu, with the capacity to process up to 4,000 tons of ore per day.

"The increase in gold production will have a positive impact on the revenue and profit of BRMS in the next year," said Suseno.

Suseno Kramadibrata mengatakan, terlepas dari peningkatan kinerja keuangan dan produksi yang dicatatkan pada kuartal I/2021, sesungguhnya perseroan mampu membukukan pencapaian yang lebih baik. Dia menjelaskan, pendapatan kuartal I/2021 itu belum termasuk dari jasa konsultasi penambangan, sehingga 100% pendapatan berasal dari produksi dan penjualan emas. Selain itu, kondisi pandemi global telah menyebabkan keterlambatan pengiriman beberapa suku cadang dari China untuk perawatan berkala fasilitas pabrik yang ada saat ini di Poboya, Palu. Oleh karena itu, pabrik BRMS terpaksa beroperasi hanya dengan kapasitas sebesar 70% di semester pertama 2021.

Namun demikian, beberapa suku cadang yang dibutuhkan tersebut kini telah tiba dan telah terpasang di pabrik terkait. Perseroan berharap dapat mengoperasikan pabrik yang ada saat ini dengan kapasitas penuh pada Mei dan Juni 2021.

“Pendapatan perusahaan sebenarnya bisa menjadi lebih tinggi dengan adanya tambahan dari jasa konsultasi penam-bangan. Kami berharap untuk dapat meningkatkan pendapatan dan laba bersih perusahaan di semester kedua tahun ini dengan beroperasinya pabrik yang ada dengan kapasitas penuh, diprosesnya bijih emas dengan rata-rata kadar yang lebih tinggi, dan potensi pendapatan dari jasa konsultasi penambangan,” papar Suseno. Di sisi lain, BRMS akan meningkatkan produksi emas secara signifikan pada kuartal II/2022 seiring dengan rampungnya pabrik kedua perseroan di Poboya, Palu dengan kapasitas untuk mengolah sampai dengan 4.000 ton bijih per harinya.

“Kenaikan produksi emas ini akan ber-dampak positif terhadap pendapatan dan laba BRMS di tahun depan,” ujar Suseno.

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Mining SOE PTBA, ANTM, TINS

Speeding Downstream Project

Author: Finna U. Ulfah

T

HREE state-owned mining companies

that are members of the MIND ID Group continue to pursue downstream project expansion as an effort to boost performance.

Most recently, PT Bukit Asam Tbk. and Pertamina signed a cooperation amend-ment in the coal gasification project with Air Products & Chemical Inc. on Tuesday (11/5/2021) in the United States.

The agreement is also an agreement for the Processing Service Agreement for the coal gasification project. The project will be carried out in Tanjung Enim for 20 years, bringing in foreign investment from Air Products of US$ 2.1 billion, or the equivalent of Rp. 30 trillion.

Coal gasification will later process 1.4 million tonnes of DME. Bukit Asam President Director Suryo Eko Hadianto said that his party would work hard to realize the gasification project develop-ment.

"We believe the signing is a significant leap in the development of project cooperation, and we are optimistic that this project can be executed on time," said Suryo.

Based on Bisnis records, the issuer coded PTBA shares is targeting to start construction of the project in the first half of 2021 and operate commercially in the second quarter of 2024.

On the other hand, Suryo explained that this project is also the company's effort to enrich its business portfolio.

BUMN Tambang PTBA, ANTM,

TINS Kebut Proyek Penghiliran

T

IGA emiten BUMN tambang yang

tergabung dalam Grup MIND ID terus mengejar ekspansi proyek penghiliran sebagai salah satu upaya menggenjot kinerja.

Terbaru, PT Bukit Asam Tbk. dan Pertamina menandatangani amandemen kerja sama dalam proyek gasifikasi batu bara dengan Air Products & Chemical Inc pada Selasa (11/5/2021) di Amerika Serikat.

Perjanjian itu sekaligus menjadi kese-pakatan Processing Service Agreement atas proyek gasifikasi batu bara. Proyek itu akan dilakukan di Tanjung Enim selama 20 tahun, dengan mendatangkan investasi asing dari Air Products sebesar US$2,1 miliar atau setara Rp30 triliun.

Gasifikasi batu bara nantinya akan mem-proses 1,4 juta ton DME.

Direktur Utama Bukit Asam Suryo Eko Hadianto mengatakan bahwa pihaknya akan bekerja keras untuk segera merealisasikan pembangunan proyek gasifikasi itu.

“Kami percaya penandatanganan itu merupakan lompatan signifikan dalam perkembangan kerja sama proyek, dan kami optimis proyek ini dapat dijalankan tepat waktu,” ujar Suryo.

Berdasarkan catatan Bisnis, emiten berkode saham PTBA itu menargetkan memulai konstruksi proyek itu pada semester I/2021 dan beroperasi secara komersial pada kuartal II/2024.

Di sisi lain, Suryo menjelaskan bahwa proyek ini juga menjadi upaya perseroan untuk memperkaya portofolio bisnis.

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"This cooperation becomes a new portfolio for companies that no longer just sell coal, but also enter into downstream products to increase added value," said Suryo. In addition, in early May 2021, PT Aneka Tambang Tbk. (ANTM) has also signed a heads of agreement (HoA) for the develop-ment of the nickel refining business in North Konawe and North Morowali, Southeast Sulawesi with Alchemist Metal Industry Pte. Ltd. and PT Gunbuster Nickel Industry.

President Director of Indonesia Asahan Aluminum (Inalum) Orias Petrus Moedak explained that cooperation with strategic partners starts from upstream to down-stream.

Upstream, ANTM will work with partners to carry out mining operations. The nickel ore production will be sold to smelters according to the mineral benchmark price. Downstream, ANTM will have a stake in the smelter project when the factory operates commercially.

"This ecosystem is a new business opportunity for ANTAM, starting from the development of a nickel ore mining project to a smelter project that produces ferro-nickel or ferro-nickel pig iron," said Orias.

The smelter development and operation project consists of three lines, each with a 45 MVA nickel smelter and a power plant capacity of 135 MW.

Separately, Aneka Tambang's SVP Corporate Secretary Yulan Kustiyan said that this year the company will continue to focus on expanding downstream mineral processing.

"This includes expanding the reserve and resource base and establishing partner-ships to develop new processed mineral production from existing reserves," Yulan told Bisnis recently.

“Kerja sama ini menjadi portofolio baru bagi perusahaan yang tidak lagi sekadar menjual batu bara, tetapi juga mulai masuk ke produk-produk hilirisasi untuk meningkat-kan nilai tambah,” papar Suryo.

Selain itu, pada awal Mei 2021, PT Aneka Tambang Tbk. (ANTM) juga telah menanda-tangani perjanjian pendahuluan atau heads of agreement (HoA) pengembangan bisnis pemurnian nikel di Konawe Utara dan Morowali Utara, Sulawesi Tenggara dengan Alchemist Metal Industry Pte. Ltd. dan PT Gunbuster Nickel Industry.

Direktur Utama Indonesia Asahan Aluminium (Inalum) Orias Petrus Moedak menjelaskan bahwa kerjasama dengan mitra strategis mulai dari di hulu hingga hilir. Di hulu, ANTM akan bekerjasama dengan mitra untuk melakukan operasi penam-bangan. Hasil produksi bijih nikel akan dijual ke smelter sesuai dengan harga patokan mineral. Di hilir, ANTM akan memiliki saham pada proyek smelter ketika pabrik beroperasi secara komersial.

“Ekosistem ini merupakan peluang bisnis baru bagi ANTAM mulai dari pengembangan proyek penambangan bijih nikel hingga proyek smelter yang menghasilkan feronikel atau nickel pig iron” ujar Orias.

Proyek pengembangan dan pengoperasian smelter terdiri dari tiga lines dengan masing-masing 45 MVA smelter nikel dan kapasitas pembangkit listrik 135 MW. Secara terpisah, SVP Corporate Secretary Aneka Tambang Yulan Kustiyan mengatakan bahwa pada tahun ini perseroan akan terus berfokus pada ekspansi pengolahan mineral bersifat hilir.

“Hal itu termasuk, melakukan perluasan basis cadangan dan sumber daya dan menjalin kemitraan untuk mengembangkan produksi mineral olahan baru dari cadangan yang ada,” ujar Yulan kepada Bisnis, belum lama ini.

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In addition to this project, ANTM is also completing the Haltim Ferronickel Plant project which currently has reached 98.17 percent and the construction of the Smelter Grade Alumina Refinery (SGAR) in Mempawah which has a capacity of 1 million tons of SGA.

Meanwhile, PT Timah Tbk. continues to pursue the completion of the construction of the Ausmelt smelter which has reached 44 percent as of March 2021. The smelter construction is planned to be completed by the end of 2021 and commercially operational in February 2022.

The smelter will have a production capacity of 40,000 tons per year, so the production capacity of the issuer coded as TINS shares will increase to 70,000 tons to 80,000 tons per year.

Meanwhile, the total investment for the smelter construction reached US$ 80 million, with funding using the Export Credit Agency (ECA) scheme with financing from Finland and Indonesia Exim Bank.

Editor: Hafiyyan

Selain proyek itu, ANTM juga tengah merampungkan proyek Pabrik Feronikel Haltim yang saat ini sudah mencapai 98,17 persen dan pembangunan Pabrik Smelter Grade Alumina Refinary (SGAR) di Mempawah yang memiliki kapasitas 1 juta ton SGA.

Sementara itu, PT Timah Tbk. terus mengejar penyelesaian pengembangan konstruksi smelter Ausmelt yang sudah mencapai 44 persen per Maret 2021. Konstruksi smelter itu direncanakan rampung pada akhir 2021 dan beroperasi secara komersial pada Februari 2022. Smelter tersebut akan memiliki kapasitas produksi 40.000 ton per tahun, sehingga kapasitas produksi emiten berkode saham TINS itu meningkat menjadi 70.000 ton hingga 80.000 ton per tahun.

Adapun, total investasi pembangunan smelter tersebut mencapai US$ 80 juta dengan pendanaan menggunakan skema Export Credit Agency (ECA) dengan finvera dari Finlandia dan Indonesia Exim Bank.

Editor : Hafiyyan

The increase in coal prices will

lift the sales of United Tractors

(UNTR) heavy equipment

Reporter: Akhmad Suryahadi | Editor: Wahyu

T. Rahmawati

P

T UNITED Tractors Tbk (UNTR) decided

to increase the sales target of Komatsu heavy equipment for this year. This subsidiary of PT Astra International Tbk (ASII) has revised up its sales target for Komatsu from the previous 1,700 units to 2,500 units. This decision takes into account the prospects for recovery in the mining and construction sectors.

Kenaikan harga batubara akan

mengangkat penjualan alat

berat United Tractors (UNTR)

Reporter: Akhmad Suryahadi | Editor: Wahyu

T. Rahmawati

P

T UNITED Tractors Tbk (UNTR)

me-mutuskan untuk menaikkan target pen-jualan alat berat Komatsu untuk tahun ini. Anak usaha PT Astra International Tbk (ASII) ini merevisi naik target penjualan Komatsu dari sebelumnya hanya 1.700 unit menjadi 2.500 unit. Keputusan ini dengan menimbang prospek pemulihan di sektor tambang dan konstruksi.

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Head of Research for Henan Putihrai Sekuritas, Robertus Yanuar Hardy, said that the new target set by UNTR this year is quite realistic. This is because heavy equipment sales this year will be more supported by the mining segment, with indications of improving commodity prices.

"This target is still quite realistic because it is supported by the increase in coal prices to their highest level," explained Robertus to Kontan.co.id, Monday (17/5).

Quoting Bloomberg, the ICE Newcastle coal price for the July 2021 contract was at the level of US$ 99.4 per ton on Friday (14/5) trading. In fact, the price of coal broke above the level of US$ 100, to be precise at the level of US$ 102.55 per ton on Thursday (13/5) trading, which is the highest level this year.

Henan Putihrai Sekuritas projects that coal prices will be in the range of US$ 80 per ton - US$ 95 per ton this year. Henan Putihrai Sekuritas initiated a recommen-dation for UNTR shares with a buy rating with a target price of Rp 26,000 per share. As an illustration, UNTR posted a net profit of Rp 1.86 trillion during the first quarter of 2021. United Tractors' profit edged up 2.3% from the net profit in the same period the previous year, namely Rp 1.82 trillion. However, this increase in net income was not accompanied by an increase in income. UNTR posted a decrease in revenue of 2.27%, from the original Rp 18.31 trillion to Rp 17.89 trillion.

Kepala Riset Henan Putihrai Sekuritas Robertus Yanuar Hardy menilai, target baru yang dipasang UNTR tahun ini cukup realistis. Sebab, penjualan alat berat tahun ini lebih didukung oleh segmen pertam-bangan dengan indikasi membaiknya harga komoditas.

“Target ini masih cukup realistis karena didukung oleh kenaikan harga batubara ke level tertingginya,” terang Robertus kepada Kontan.co.id, Senin (17/5).

Mengutip Bloomberg, harga batubara ICE Newcastle untuk kontrak Juli 2021 telah berada di level US$ 99,4 per ton pada perdagangan Jumat (14/5). Bahkan, harga batubara sempat menembus di atas level US$ 100, tepatnya pada level US$ 102,55 per ton pada perdagangan Kamis (13/5), yang merupakan level tertingginya tahun ini.

Henan Putihrai Sekuritas memproyeksikan harga batubara akan berada di rentang US$ 80 per ton–US$ 95 per ton tahun ini. Henan Putihrai Sekuritas menginisiasi rekomen-dasi saham UNTR dengan peringkat beli

(buy) dengan target harga Rp 26.000 per

saham.

Sebagai gambaran, UNTR membukukan laba bersih senilai Rp 1,86 triliun sepanjang kuartal pertama 2021. Laba United Tractors naik tipis 2,3% dari laba bersih di periode yang sama tahun sebelumnya yakni Rp 1,82 triliun.

Namun, kenaikan laba bersih ini tidak dibarengi oleh kenaikan pendapatan. UNTR membukukan penurunan penda-patan sebesar 2,27%, dari semula Rp 18,31 triliun menjadi Rp 17,89 triliun.

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Indo Tambangraya Net Profit

Soars 191%

By: Ahmad Nabhani

I

SSUER coal mining company, PT Indo

Tambangraya Megah Tbk (ITMG) managed to record pretty good financial performance in the first quarter of 2021. Where the net profit was booked at US$ 42 million or an increase of 191% compared to the same period last year of US$ 14 million. So that the net income per share is booked at US$ 0.04.

The President Director of ITMG, Mulianto, in his press release in Jakarta, yesterday said that the increase in performance was driven by the vaccination program and the application of the new normal around the world, thus encouraging the recovery of energy consumption and demand. In the end, the price started to recover gradually since October last year and peaked at the level of US$ 96 per ton at the end of March this year.

"During the first quarter of 2021, the company recorded an average coal price of US$ 68.1 per ton or an increase of 29% on a quarterly basis or 16%," he said.

In addition, the company has also sold 4.1 million tons of coal which were exported to Japan (0.9 million tons), China (0.8 million tons), Bangladesh (0.4 million tons), Thailand (0.4 million tons), and other countries in East and Southeast Asia, while domestic sales amounted to 0.6 million tons.

He added, sales were recorded at US$ 284 million in the first quarter, while the gross profit margin rose 12% from the first quarter of last year to 30% in the first quarter of this year.

Laba Bersih Indo Tambangraya

Melonjak 191%

Oleh: Ahmad Nabhani

E

MITEN pertambangan batu bara, PT Indo

Tambangraya Megah Tbk (ITMG) berhasil membukukan kinerja keuangan di kuartal pertama 2021 cukup apik. Dimana laba bersih yang dibukukan sebesar US$ 42 juta atau melonjak 191% dibanding priode yang sama tahun lalu sebesar US$ 14 juta. Sehingga laba bersih per saham dibukukan sebesar US$ 0,04.

Direktur Utama ITMG, Mulianto dalam siaran persnya di Jakarta, kemarin menyampaikan, peningkatan kinerja itu didorong oleh program vaksinasi dan penerapan new normal di seluruh dunia, sehingg mendorong pemulihan konsumsi dan permintaan energi. Pada akhirnya harga mulai berangsur pulih semenjak bulan Oktober tahun lalu dan mencapai puncaknya di level US$ 96 per ton pada akhir bulan Maret tahun ini.

”Sepanjang triwulan pertama 2021, per-seroan mencatat perolehan rata-rata harga batu bara sebesar US$ 68,1 per ton atau naik 29% secara kuartal atau 16%,” ujarnya. Selain itu, perseroan juga telah menjual sebanyak 4,1 juta ton batu bara yang di ekspor ke negara Jepang (0,9 juta ton), China (0,8 juta ton), Bangladesh (0,4 juta ton), Thailand (0,4 juta ton), dan negara-negara lain di Asia Timur dan Tenggara, sedangkan penjualan domestik adalah sebanyak 0,6 juta ton.

Dirinya menambahkan, penjualan tercatat sebesar US$ 284 juta pada triwulan pertama, sedangkan marjin laba kotor naik 12% dari triwulan pertama tahun lalu menjadi 30% pada triwulan pertama tahun ini.

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Meanwhile, EBITDA was recorded at US$ 86 million in the first quarter of 2021, up 48% from the same period the previous year. Then the company has secured 67% of the sales contract. As many as 27% of the selling price has been set, 39% refers to the coal price index, while the other 2% has not yet determined the selling price. The remaining 33% has not been sold. As of the end of March 2021, ITMG's total assets were valued at US$ 1,201 million with total equity of US$ 884 million. The Company has a strong cash and cash equivalents position of USD 276 million with a long-term bank loan position of US$ 35.8 million. For the strategy in 2021, the company has set "Four Plus Main Targets". The first is to protect employees physically and spiritually from the threat of COVID-19 and continue to support communities around the mine by providing health and logistical assistance during the pandemic. The company plans to participate in the Mutual Cooperation vaccination program for the benefit of all employees.

Second, the Company will continue to optimize profits by setting a production volume target of 17.7-19.9 million tons with a strip ratio of 9.7 times and a target sales volume of 20.7-22.9 million tons. Both the target production volume and sales volume can change if approved by the government.

In addition, the company will also create value along the coal chain, including obtaining 2.5-2.9 million tons of third party coal and mining 4.3 million tons by its own subsidiaries. Third, the company will continue its digital transformation with the main target of accelerating the digital growth transition and price rationalization. Digital transformation is expected to be able to build a very fast platform and provide value-added services.

Sedangkan EBITDA tercatat sebesar US$ 86 juta pada triwulan pertama 2021 atau naik 48% dari periode yang sama tahun sebelum-nya. Kemudian perseroan telah mendapatkan 67% kontrak penjualan. Sebanyak 27% harga jualnya telah ditetapkan, 39% lagi mengacu pada indeks harga batu bara sedangkan 2 persen lainnya belum ditentukan harga jualnya. Selebihnya 33% belum terjual.

Sampai dengan akhir Maret 2021, total aktiva ITMG bernilai US$ 1.201 juta dengan total ekuitas US$ 884 juta. Perseroan memiliki posisi kas dan setara kas yang kuat sebesar USD 276 juta dengan posisi pinjaman jangka panjang dari bank sebesar US$ 35,8 juta. Untuk strategi di tahun 2021, perseroan telah menetapkan “Empat Plus Sasaran Utama”. Pertama adalah melindungi karyawan secara jasmani dan rohani dari ancaman COVID-19 dan terus mendukung masyarakat sekitar tambang dengan menyediakan bantuan kesehatan maupun logistik selama pandemi. Perseroan berencana ikut serta dalam program vaksinasi Gotong-Royong demi kebaikan seluruh karyawan.

Kedua, Perseroan akan terus mengoptima-lisasi keuntungan dengan menetapkan target volume produksi sebesar 17,7-19,9 juta ton dengan nisbah kupas 9,7 kali dan target volume penjualan sebesar 20,7-22,9 juta ton. Baik angka target volume produksi dan volume penjualan dapat mengalami per-ubahan apabila disetujui oleh pemerintah. Di samping itu, perseroan juga akan men-ciptakan nilai sepanjang rantai batu bara, di antaranya mendapatkan batu bara pihak ketiga sebanyak 2,5-2,9 juta ton dan me-nambang 4,3 juta ton yang dilakukan oleh anak perusahaan sendiri. Ketiga, perseroan akan melanjutkan transformasi digital dengan target andalan mempercepat transisi per-tumbuhan secara digital, dan rasionalisasi harga. Transformasi digital diharapkan dapat membangun platform yang sangat cepat dan memberikan layanan dengan nilai tambah.

(13)

In addition, digital transformation is also expected to be able to shape human resources with a digital culture, not being fragile and focusing on good corporate governance.

Fourth, the company this year will also realize the ESG (Environmental, Social, and Corporate Governance) initiative and affirm Banpu Heart as the Company's Core Value. ESG is a global trend that cannot be avoided while Banpu Heart is believed to be driving a business transformation towards "Indonesian companies in the energy sector that are core to innovation, technology, inclusion and sustainability."

Di samping itu, transformasi digital di-harapkan juga dapat membentuk sumber daya manusia dengan budaya digital, tidak rapuh dan berfokus pada Tata Kelola Perusahaan yang baik.

Keempat, perseroan pada tahun ini juga akan mewujudkan inisiatif ESG (Environmental, Social, and Corporate Governance) dan meneguhkan Banpu Heart sebagai Nilai Inti Perusahaan. ESG adalah kecenderungan global yang tak bisa dihindari sedangan Banpu Heart dipercaya akan menggerakkan transformasi bisnis menuju “Perusaha-an Indonesia di bid“Perusaha-ang energi y“Perusaha-ang ber-intikan inovasi, teknologi, inklusi dan keber-lanjutan.”

Copper Prices Shatter Records,

Indonesia Should Be Rich

Anisatul Umah, CNBC Indonesia

T

HE PRICE of copper in the last two

months has continued to show an increase. In fact, in early May, to be precise 6 May 2021, the price of copper on the London Metal Exchange (LME) broke the US$ 10,000 per metric ton (MT) level, to be precise US$ 10,025 per MT and continued to rise, even on May 13 last week it had touched US$ 10,253.5 per MT, although on May 14 it had to drop to the level of US$ 10,212 per MT.

In fact, the price of copper is predicted to have the potential to reach US$ 20,000 per MT in 2025, based on an analysis by Bank of America (BofA), as reported by CNBC International.

The increase in copper prices can bring benefits to Indonesia as a producer and exporter of copper.

Harga Tembaga Pecah Rekor, RI

Seharusnya Jadi Kaya Raya Lho

Anisatul Umah, CNBC Indonesia

H

ARGA tembaga selama dua bulan terakhir

ini terus menunjukkan peningkatan. Bahkan, pada awal Mei, tepatnya 6 Mei 2021, harga tembaga di London Metal Exchange (LME) menembus level US$ 10.000 per metrik ton (MT), tepatnya US$ 10.025 per MT dan terus naik, bahkan pada 13 Mei pekan lalu sempat menyentuh US$ 10.253,5 per MT, meski pada 14 Mei harus turun ke level US$ 10.212 per MT.

Bahkan, harga tembaga ini digadang-gadang berpotensi bisa menyentuh US$ 20.000 per MT di 2025, berdasarkan analisis Bank of America (BofA), seperti dilansir dari CNBC International.

Kenaikan harga tembaga ini bisa men-datangkan keuntungan bagi Indonesia sebagai produsen dan pengekspor tembaga.

(14)

The Ministry of Energy and Mineral Resources (ESDM) targets copper cathode production to reach 291,000 tons this year and sales of 296,000 tons. If the average selling price of copper reaches US$ 10,000 per ton, it means that Indonesia can earn US$ 2.96 billion or around Rp. 41.4 trillion (assuming an exchange rate of Rp. 14,000 per US$) from selling copper cathodes. That is only the result of the sale of metal or copper cathodes, not including copper concentrate, which is still being exported by PT Freeport Indonesia and PT Amman Mineral Nusa Tenggara. PT Freeport Indonesia, Indonesia's largest copper producer, targets copper concentrate production to reach 1.4 billion pounds this year, an increase from production in 2020 of 800 million pounds.

The copper cathode is manufactured by PT Smelting, which operates a copper smelter in Gresik, East Java. PT Smelting is owned by Mitsubishi Materials Corporation (MMC) and PT Freeport Indonesia. This smelter processes 1 million metric tons of copper concentrate per year into copper cathodes, around 300 thousand tons per year. This smelter processes 40% of PT Freeport Indonesia's copper concentrate production.

With the increase in the price of copper, it is estimated that this will also have an impact on state revenues, because it is related to royalties, corporate income taxes, and dividends such as Freeport, which is now 51% owned by Indonesia through the SOE Mining Holding, MIND ID. Based on Minerba One Data Indonesia (MODI) data from the Ministry of ESDM, on Monday (17/05/2021) national copper production in the first quarter of 2021 only reached 2,486.6 tons or only 0.85% of the year's target.

Kementerian Energi dan Sumber Daya Mineral (ESDM) menargetkan produksi katoda tembaga pada tahun ini sebesar 291.000 ton dan penjualan 296.000 ton. Bila harga jual rata-rata tembaga mencapai US$ 10.000 per ton, maka artinya Indonesia bisa mendapatkan penghasilan US$ 2,96 miliar atau sekitar Rp 41,4 triliun (asumsi kurs Rp 14.000 per US$) dari penjualan katoda tembaga.

Itu pun baru hasil penjualan logam atau katoda tembaga, belum termasuk konsen-trat tembaga yang masih diekspor PT Freeport Indonesia dan PT Amman Mineral Nusa Tenggara. PT Freeport Indonesia, produsen tembaga terbesar RI, tahun ini menargetkan produksi konsentrat tembaga mencapai 1,4 miliar pon, me-ningkat dari produksi di 2020 yang sebesar 800 juta pon.

Adapun katoda tembaga ini diproduksi oleh PT Smelting, yang mengoperasikan smelter tembaga di Gresik, Jawa Timur. PT Smelting ini dimiliki oleh Mitsubishi Materials Corporation (MMC) dan PT Freeport Indonesia. Smelter ini mengolah 1 juta metrik ton konsentrat tembaga per tahun menjadi katoda tembaga sekitar 300 ribu ton per tahun. Smelter ini mengolah 40% dari produksi konsentrat tembaga PT Freeport Indonesia.

Dengan meningkatnya harga tembaga, maka ini diperkirakan juga akan ber-dampak bagi penerimaan negara, karena terkait adanya royalti, pajak penghasilan perusahaan, maupun dividen seperti Freeport yang kini sebagian besar saham-nya yakni 51% dimiliki Indonesia melalui Holding BUMN Tambang, MIND ID.

Berdasarkan data Minerba One Data Indonesia (MODI) Kementerian ESDM, pada Senin (17/05/2021) produksi tembaga nasional pada kuartal I 2021 baru mencapai 2.486,6 ton atau baru 0,85% dari target tahun.

(15)

Production details were January 699.50 tons, February 728.70 tons, and March 1,058.40 tons. However, this production realization data may still change in line with the updating of production data from each copper producer.

Compared to the first quarter of 2020, copper cathode production reached 70,113.91 tons. In detail, production in the first quarter of 2020 included January at 24,236.78 tons, February at 20,881.95 tons, and March at 24,995.18 tons.

Spokesperson for PT Freeport Indonesia (PTFI) Riza Pratama said the company this year is targeting an increase in copper concentrate production compared to last year. However, the increase in the production target, according to him, is due to the increasing phase of underground mining operations.

"Our production target this year is bigger than last year because we ramp up underground mining operations," he told CNBC Indonesia, Monday (17/05/2021). Freeport targets copper production of around 1.4 billion pounds this year, higher than production in 2020 which is only 800 million pounds.

Based on Freeport McMoran data, PT Freeport Indonesia's copper ore production from the Grasberg Block Cave and the underground mine in the Deep Mill Level Zone (DMLZ) is estimated to reach 98,5000 metric tons of ore per day.

"This year, copper production is targeted to reach 1.4 billion pounds," he said.

According to him, the increase in copper and gold production this year will have an impact on state revenues, especially in terms of dividends to be distributed. "Of course, the dividends paid to the government will be greater," he added.

Rincian produksinya yakni Januari 699,50 ton, Februari 728,70 ton, dan Maret 1.058,40 ton. Namun, data realisasi produksi ini masih bisa berubah seiring dengan diperbaruinya data produksi dari masing-masing produsen tembaga.

Dibandingkan dengan kuartal I 2020, pro-duksi katoda tembaga mencapai 70.113,91 ton. Secara rinci, produksi pada kuartal I 2020 antara lain Januari sebesar 24.236,78 ton, Februari sebesar 20.881,95 ton, dan bulan Maret sebesar 24.995,18 ton.

Juru Bicara PT Freeport Indonesia (PTFI) Riza Pratama mengatakan, perusahaan pada tahun ini memang menargetkan peningkatan produksi konsentrat tembaga dibandingkan tahun lalu. Namun, peningkatan target produksi ini menurutnya lebih karena fase meningkatnya operasional tambang bawah tanah.

"Produksi kami tahun ini targetnya lebih besar dari tahun lalu karena kami ramp up operasi tambang bawah tanah," tuturnya kepada CNBC Indonesia, Senin (17/05/ 2021).

Freeport menargetkan produksi tembaga sekitar 1,4 miliar pon pada tahun ini, lebih tinggi dibandingkan dengan produksi pada 2020 yang hanya 800 juta pon.

Berdasarkan data Freeport McMoran , produksi bijih tembaga PT Freeport Indonesia dari Grasberg Block Cave dan tambang bawah tanah Deep Mill Level Zone (DMLZ) diperkirakan mencapai 98.5000 metrik ton bijih per hari.

"Pada tahun ini produksi tembaga ditarget-kan mencapai 1,4 miliar pon," ujarnya.

Meningkatnya produksi tembaga dan emas pada tahun ini menurutnya akan berdampak pada penerimaan negara, terutama dari sisi dividen yang akan dibagikan.

"Tentunya dividen yang dibayarkan kepada pemerintah akan lebih besar," imbuhnya.

(16)

Meanwhile, in terms of price increases, according to him, mineral prices always cycle and are currently facing a super cycle. Especially for the copper commodity, according to him, many producers have stopped producing because of the Covid-19 pandemic. Meanwhile, the demand continues to increase along with the need for electric vehicles.

"The demand for copper continues to increase along with the increase in production of electric vehicles and renewable power plants that use copper 4-5 times more than conventional vehicles and generators," he said. (wia)

Sementara dari sisi kenaikan harga, menurut-nya harga mineral selalu mengalami siklus (cycle) dan saat ini tengah menghadapi super

cycle (super siklus).

Khusus untuk komoditas tembaga, menuruy-nya bamenuruy-nyak produsen yang berhenti ber-produksi, karena pandemi Covid-19. Sementara permintaan terus naik seiring dengan kebutuhan untuk kendaraan listrik. "Demand tembaga terus naik seiring peningkatan produksi kendaraan listrik dan

renewable power plants yang menggunakan

tembaga 4-5 kali lipat dibanding kendaraan dan pembangkit konvensional," ungkapnya.

(wia)

Trio of Mining SOE Issuers

Hoping to be Secure with the

Super Commodity Cycle

T

HE TRIO of state-owned mining issuers

scored varied performances in the first quarter of 2021. However, the shares of the three issuers are increasingly interesting to observe in line with the super commodity cycle period that occurred this year.

In the first quarter of 2021, PT Aneka Tambang Tbk. (ANTM) managed to score a net profit of Rp630.37 billion, and recorded impressive growth in the income post of 77.04 percent to Rp9.2 trillion. In addition, PT Timah Tbk. (TINS) also managed to turn around a profit of Rp10.34 billion, although revenue still contracted 44.77 percent. Only PT Bukit Asam Tbk. (PTBA) which still posted...

Trio Emiten BUMN Tambang

Berharap Ketiban Rezeki Siklus

Super Komoditas

T

RIO emiten pertambangan pelat merah

mencetak kinerja variatif pada kuartal I/2021. Namun, saham ketiga emiten itu semakin menarik untuk dicermati seiring dengan periode siklus super komoditas yang terjadi pada tahun ini.

Pada kuartal I/2021, PT Aneka Tambang Tbk. (ANTM) berhasil mencetak laba bersih Rp630,37 miliar, dan catatkan pertumbuhan impresif pada pos pendapatan 77,04 persen menjadi Rp9,2 triliun.

Selain itu, PT Timah Tbk. (TINS) juga berhasil berbalik untung sebesar Rp10,34 miliar, walaupun pendapatan masih ter-kontraksi 44,77 persen. Hanya PT Bukit Asam Tbk. (PTBA) yang masih mencetak...

(17)

Only PT Bukit Asam Tbk. (PTBA) which still posted a decline in revenue and net profit performance, namely 22.01 percent and 44.59 percent respectively.

Samuel Sekuritas analyst Dessy Lapagu said that the three state-owned mining companies that are members of MIND ID have bright prospects this year. This is supported by the period of the super commodity cycle that has occurred since the end of last year.

The super commodity cycle is a period when the price of a commodity increases significantly beyond its average increase due to surging demand that is not matched by supply.

Based on Bloomberg data, almost all mining commodity prices have strengthened significantly during the year 2021. Coal prices rose 24.09 percent, copper strengthened 31.86 percent, nickel rose 5.86 percent, and tin rose 45.22 percent.

"We are optimistic that the three state-owned mining companies can record positive performance until the end of the year, supported by volume growth and the increasing trend of global commodity prices," said Dessy to Bisnis recently. Dessy believes that PTBA's performance has the potential to recover in the second quarter of 2021 in line with falling rainfall and still strengthening coal prices. Meanwhile, ANTM's performance has the potential to grow significantly, supported by the strengthening nickel and gold products.

Among the three shares of the mining SOE, Dessy recommended PTBA and ANTM to be accumulated purchases by investors with a target price of Rp2,900 and Rp3,230 respectively.

Hanya PT Bukit Asam Tbk. (PTBA) yang masih mencetak penurunan kinerja pen-dapatan dan laba bersih, yaitu masing-masing 22,01 persen dan 44,59 persen. Analis Samuel Sekuritas Dessy Lapagu mengatakan bahwa ketiga emiten BUMN tambang yang tergabung dalam MIND ID itu memiliki prospek cerah pada tahun ini. Hal itu didukung oleh periode siklus super komoditas yang terjadi sejak akhir tahun lalu.

Siklus super komoditas adalah periode ketika harga komoditas naik secara signifikan melebihi kenaikan reratanya yang dikarenakan melonjaknya per-mintaan yang tidak diimbangi penawaran. Berdasarkan data Bloomberg, hampir seluruh harga komoditas tambang menguat signifikan sepanjang tahun berjalan 2021. Harga batu bara naik 24,09 persen, tembaga menguat 31,86 persen, nikel naik 5,86 persen, dan timah naik 45,22 persen.

“Kami optimis ketiga BUMN tambang tersebut dapat mencatatkan kinerja positif hingga akhir tahun didukung pertumbuhan volume dan tren kenaikan harga komo-ditas global,” ujar Dessy kepada Bisnis, belum lama ini.

Dessy meyakini kinerja PTBA berpotensi pulih pada kuartal II/2021 seiring dengan turunnya curah hujan dan masih menguatnya harga batu bara. Sementara itu, kinerja ANTM berpotensi tumbuh signifikan didukung dari produk nikel dan emas yang sedang menguat.

Di antara tiga saham BUMN tambang itu, Dessy merekomendasikan PTBA dan ANTM untuk diakumulasi beli oleh investor dengan target harga masing-masing Rp2.900 dan Rp3.230.

(18)

Separately, Praus Capital Research Head Alfred Nainggolan also said that the increase in average selling price which will be supported by the increase in production volume will be the main factor in the performance of the three state-owned mining companies that have the potential to grow this year.

He even assessed that the increase in these two aspects could make the performance growth of state-owned mining companies not only linear, but exponential.

"However, the results of the performance in the first quarter of 2021 were not very satisfactory, so it was seen that there was an inlinearity and inconsistency in financial performance with what was happening in real terms. The market assesses the risk factor, so the shares are less resilient," said Alfred to Bisnis, recently.

Based on Bloomberg data, throughout the year 2021 ANTM led the performance of the shares of three state-owned mining companies with an increase of 29.72 percent, followed by TINS, which rose 14.14 percent. Only PTBA which year to date still corrected 19.57 percent.

He assessed that the three mining BUMN shares have the potential to go faster than their current movement.

Meanwhile, Alfred recommended buying for PTBA and ANTM with a target price of Rp 2,500-Rp 2,600 and Rp 3,000, respec-tively. Meanwhile, TINS is interesting for trading. Editor: Hadijah Alaydrus

Secara terpisah, Kepala Riset Praus Capital Alfred Nainggolan juga mengatakan bahwa kenaikan harga jual rata-rata yang akan didukung kenaikan volume produksi akan menjadi faktor utama kinerja tiga emiten BUMN tambang berpotensi moncer tahun ini.

Dia bahkan menilai kenaikan dua aspek itu bisa membuat pertumbuhan kinerja emiten BUMN tambang bukan hanya bersifat linear, tetapi eksponensial.

“Namun, hasil kinerja kuartal I/2021 tidak begitu memuaskan sehingga terlihat ada-nya inlinear dan inkonsistensi performa keuangan dengan yang terjadi secara riil. Pasar menilai faktor risiko itu, sehingga sahamnya pun jadi kurang ngegas,” ujar Alfred kepada Bisnis, belum lama ini. Berdasarkan data Bloomberg, sepanjang tahun berjalan 2021 ANTM memimpin kinerja saham tiga emiten BUMN tambang dengan menguat 29,72 persen, diikuti TINS yang naik 14,14 persen. Hanya PTBA yang secara year to date masih terkoreksi 19,57 persen.

Dia menilai ketiga saham BUMN tambang itu berpotensi melaju lebih kencang dari-pada pergerakannya saat ini.

Adapun, Alfred merekomendasikan beli untuk PTBA dan ANTM dengan masing-masing target price Rp2.500-Rp2.600 dan Rp3.000. Sementara itu, untuk TINS menarik untuk dijadikan trading. Editor : Hadijah Alaydrus

(19)

Sales fell in the first quarter of

2021, check recommendations

for Indo Tambangraya (ITMG)

shares

Reporter: Akhmad Suryahadi | Editor: Khomarul Hidayat

P

T INDO Tambangraya Megah Tbk (ITMG)

coal sales volume was recorded at 4.1 million tons in the first quarter of 2021. This sales decreased 29.3% from coal sales in the first quarter of 2020 which reached 5.8 million tons.

Quoting information on the official ITMG website, this amount consists of sales of coal exported to Japan as much as 0.9 million tons, followed by sales to China as much as 0.8 million tons, Bangladesh as much as 0.4 million tons, Thailand as much as 0.4 million tons. , and other countries in East and Southeast Asia. Meanwhile, sales to the domestic market amounted to 0.6 million tons.

Not only in terms of sales, ITMG's production volume also experienced a correction. In his research published on Monday (17/5), BRIDanareksa Sekuritas analyst Stefanus Darmagiri said, ITMG posted a production volume of 4 million tons during the first three months of 2021. This number decreased by 14.1% from the realization of production in the same period the previous year of 4.6 million tons.

Although operational performance has decreased in the first quarter of 2021, ITMG is expected to experience a recovery in coal production with a lower stripping ratio (SR) this quarter.

Penjualan turun di kuartal I

2021, cek rekomendasi saham

Indo Tambangraya (ITMG)

Reporter: Akhmad Suryahadi | Editor:

Khomarul Hidayat

V

OLUME penjualan batubara PT Indo

Tambangraya Megah Tbk (ITMG) tercatat 4,1 juta ton di kuartal I 2021. Penjualan ini turun 29,3% dari penjualan batubara di kuartal pertama tahun 2020 yang mencapai 5,8 juta ton.

Mengutip keterangan di laman resmi ITMG, jumlah ini terdiri atas penjualan batubara yang diekspor ke Jepang sebanyak 0,9 juta ton, disusul penjualan ke China sebanyak 0,8 juta ton, Bangladesh sebanyak 0,4 juta ton, Thailand sebanyak 0,4 juta ton, dan negara-negara lain di Timur dan Asia Tenggara. Sedangkan penjualan ke pasar domestik sebanyak 0,6 juta ton.

Tidak hanya dari sisi penjualan, volume produksi ITMG juga mengalami koreksi. Dalam risetnya yang dipublikasikan Senin (17/5), analis BRIDanareksa Sekuritas Stefanus Darmagiri menyebut, ITMG membukukan volume produksi sebesar 4 juta ton sepanjang tiga bulan pertama 2021. Jumlah ini turun 14,1% dari realisasi produksi di periode yang sama tahun sebelumnya sebesar 4,6 juta ton.

Meski kinerja operasional mengalami penurunan di kuartal pertama 2021, ITMG diharapkan mengalami pemulihan pro-duksi batubara dengan rasio pengupasan atau stripping ratio (SR) yang lebih rendah pada kuartal ini.

(20)

Due to favorable weather conditions, ITMG's coal production in the second quarter of 2021 is expected to increase by 22.5% quarterly to 4.9 million tonnes, with the increase coming from the Bharinto mining area. ITMG is also working to further increase production from the current optimal level of 4.9 million tonnes. Meanwhile, after recording a higher stripping ratio of 11.5 times in the first quarter of 2021, ITMG's stripping ratio is expected to be lower to 9.8 times in the second quarter of 2021.

ITMG posted revenues of US $ 284 million in the first three months of 2021, down 9.3% quarterly and corrected 22.3% yoy. High rainfall suppresses coal production volume in most of ITMG's coal mining areas.

On the other hand, this Kompas100 Index constituent reported a net profit of US$ 42 million, up 173.2% yoy in the first quarter of 2021 and improving from the net loss experienced in the fourth quarter of 2020 of US$ 1 million.

This bottomline improvement reflects higher coal prices, which resulted in a strong average selling price (ASP) of coal, up 29.3% on a quarterly basis and an increase of 29.7% yoy. There is also a tax rate normalization factor of 25.7% in the first quarter of 2021, compared to 65.4% in the first quarter of 2020.

BRI Danareksa Sekuritas maintains a recommendation to buy ITMG shares with a target price of Rp 16,500 per share (from Rp 14,500 previously). This is because ITMG's net profit in the first quarter of 2021 is better than expected, so Stefanus polishes ITMG's net profit forecast by increasing the coal ASP assumption.

Seiring dengan kondisi cuaca yang meng-untungkan, produksi batubara ITMG pada kuartal II 2021 diharapkan dapat meningkat 22,5% secara kuartalan menjadi 4,9 juta ton, dengan peningkatan berasal dari wilayah pertambangan Bharinto. ITMG juga ber-upaya lebih meningkatkan produksi dari tingkat optimal saat ini sebesar 4,9 juta ton. Sementara itu, setelah mencatat rasio peng-upasan yang lebih tinggi yakni sebesar 11,5 kali di kuartal pertama 2021 lalu, rasio pengupasan ITMG diharapkan bisa lebih rendah menjadi sebesar 9,8 kali di kuartal kedua 2021.

ITMG membukukan pendapatan sebesar US$ 284 juta pada tiga bulan pertama 2021, turun 9,3% secara kuartalan dan terkoreksi 22,3% secara yoy. Curah hujan yang tinggi menekan volume produksi batubara di sebagian besar wilayah pertambangan batubara milik ITMG. Di sisi lain, konstituen Indeks Kompas100 ini melaporkan laba bersih sebesar US$ 42 juta, naik 173,2%secara yoy di kuartal I 2021 dan membaik dari kerugian bersih yang dialami pada kuartal keempat 2020 sebesar US$ 1 juta.

Perbaikan bottomline ini mencerminkan harga batubara yang lebih tinggi, yang menyebabkan harga jual batubara rata-rata atau average selling price (ASP) yang kuat, naik 29,3% secara kuartalan dan meningkat 29,7% secara yoy. Adapula faktor normali-sasi tarif pajak sebesar 25,7% pada kuartal pertama 2021, berbanding 65,4% pada kuartal pertama 2020.

BRI Danareksa Sekuritas mempertahankan rekomendasi beli saham ITMG dengan target harga Rp 16.500 per saham (dari sebelumnya Rp 14.500). Hal ini mengingat laba bersih ITMG pada kuartal pertama 2021 yang lebih baik dari perkiraan, sehingga Stefanus memoles perkiraan laba bersih ITMG dengan menaikkan asumsi ASP batubara.

(21)

This year, ITMG is projected to book revenues of US$ 1.47 billion, up 5 percent from the previous projection of US$ 1.40 billion. Meanwhile, the projected net profit also rose 46.1 percent, from US$ 95 million to US$ 139 million.

Tahun ini, ITMG diproyeksikan mem-bukukan pendapatan senilai US$ 1,47 miliar, naik 5% dari proyeksi sebelumnya yang hanya US$ 1,40 miliar. Sementara proyeksi laba bersih juga naik 46,1%, dari semula US$ 95 juta menjadi US$ 139 juta.

Coal Price Free Falls, Landslide

Now Below US$ 100

Tirta, CNBC Indonesia

C

OAL prices fell again. For the ICE

Newcastle thermal coal, the price dropped 3% last Monday (17/5). With this correction, the contract price for thermal coal which was actively traded fell below US$ 100/ton.

Currently, the coal price is at US$ 98.2/ton. Whereas last week the price of coal had reached US$ 104.65/ton. A break in coal prices above US$ 100/ton is a good thing. There is an opportunity for coal prices to form a new pattern.

The correction that is happening now is actually a common thing, considering that prices are rallying, it is unlikely that they will continue to rise. There are times when traders start realizing their profits.

But don't worry, coal prices are unlikely to fall in the same way as in 2020. This is due to the prospect of economic recovery in 2021.

Even though India is frantically facing the Covid-19 pandemic situation which is chaotic so that imports tend to decline, the price of coal is still strong. One of the triggers is solid demand from China.

Harga Batu Bara Terjun Bebas,

Kini Longsor di Bawah US$ 100

Tirta, CNBC Indonesia

H

ARGA batu bara kembali longsor. Untuk

jenis batu bara termal ICE Newcastle harganya drop 3% Senin kemarin (17/5). Dengan koreksi tersebut harga kontrak batu bara termal yang aktif ditransaksikan itu turun ke bawah US$ 100/ton.

Kini harga batu bara berada di US$ 98,2/ton. Padahal minggu lalu harga batu bara sempat tembus US$ 104,65/ton. Tembusnya harga batu bara ke atas US$ 100/ton merupakan hal yang bagus. Ada peluang harga batu bara membentuk pola baru.

Koreksi yang terjadi saat ini sebenarnya hal yang lumrah mengingat harga yang reli tak mungkin naik terus-menerus. Ada saatnya trader mulai merealisasikan keuntungan-nya.

Namun jangan khawatir, harga batu bara tampaknya tidak akan anjlok dalam seperti tahun 2020 lalu. Hal ini dikarenakan adanya prospek pemulihan ekonomi di tahun 2021. Meskipun India sedang kalang kabut meng-hadapi situasi pandemi Covid-19 yang tak karuan sehingga impornya cenderung anjlok, harga batu bara masih kuat. Salah satu pemicunya adalah permintaan yang solid dari China.

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Until now, Panda Country has not managed to escape from the problem of tight domestic supply. Actually, China's coal production has increased in the last few months.

However, a higher increase in demand keeps the price high. Last week, China's benchmark Qinhuangdao price of thermal coal was approaching RMB 1,000/ton. The fantastic increase in Chinese coal prices is what has made global coal prices also lifted. The increase in the price of thermal coal in the past month will also raise Indonesia's benchmark coal price (HBA) for the month of June. HBA has the opportunity to penetrate to US$ 90/ton. In the second quarter, Indonesian coal production is expected to begin to improve in line with the decrease in extreme rainfall intensity such as in the first quarter. For information, Indonesia's coal production in the first three months of this year experienced a contraction of 4% (yoy) due to extreme weather that hampered mining operational activities. CNBC INDONESIA RESEARCH TEAM (twg/twg)

Sampai saat ini Negeri Panda belum berhasil lepas dari permasalahan ketatnya pasokan domestik. Sebenarnya produksi batu bara China sudah naik beberapa bulan terakhir.

Namun kenaikan permintaan yang lebih tinggi membuat harganya pun tetap menjulang. Terakhir minggu lalu, harga batu bara termal acuan China Qinhuangdao sudah mendekati RMB 1.000/ton.

Kenaikan harga batu bara China yang fantastis inilah yang membuat harga batu bara global juga ikut terangkat. Kenaikan harga batu bara termal sebulan terakhir juga akan mengerek harga batu bara acuan (HBA) Indonesia untuk bulan Juni nanti. HBA berpeluang tembus ke US$ 90/ton. Pada kuartal kedua produksi batu bara RI diharapkan mulai membaik seiring dengan penurunan intensitas hujan yang ekstrem seperti pada kuartal pertama. Sebagai informasi, produksi batu bara RI di tiga bulan pertama tahun ini mengalami kontraksi 4% (yoy) akibat cuaca ekstrem yang menghambat aktivitas operasional

tambang.TIM RISET CNBC INDONESIA (twg/twg)

Copper price rally resumes on Chile supply disruption concerns

MINING.COM Staff Writer

C

OPPER price was up again on Monday, lifted by concerns of supply disruptions in Chile and

signs that Chinese demand is picking up.

Copper for delivery in July was up 1.15% Monday afternoon, with futures trading at $4.7065 per pound ($10,354 a tonne) on the Comex market in New York.

Workers at BHP’s Escondida and Spence mines rejected BHP’s final wage offer on Friday, with almost 97% of the union’s members opting to strike, sparking supply disruption concerns. The union’s 205 workers run the company’s Integrated Operations Centre which manages cathode and concentrator plants in the north of the country from the Chilean capital Santiago.

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Meanwhile, concerns over mining investment in South America linger as the leading presidential candidate in Peru wants to impose a similar royalty tax on copper sales proposed in Chile.

Peru’s socialist presidential candidate Pedro Castillo said on Sunday night he would raise taxes and mining royalties and renegotiate the tax contracts of large companies if elected to high office next month.

Copper’s rally stumbled last week along with other industrial materials after China stepped up efforts to cool the commodities surge that’s fanning fears of global inflation.

Demand in China is recovering after prices retreated, Jinrui Futures Co. said in a note on Monday, pointing to a spike in the domestic spot premium.

Morgan Stanley said the gains in metals, iron ore and grains will decline toward the end of the year after “overshooting levels that can be justified by the fundamentals.” (With files from Bloomberg and Reuters)

Resolute adopts Orica wireless blasting software at Syama

Nickolas Zakharia

R

ESOLUTE Mining has introduced wireless blasting at the Syama gold mine in Mali through

Orica’s WebGen system.

The WebGen system replaces traditional blasting requirements, including down-lines and surface connecting wires.

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It instead sends commands wirelessly to provide safer and reliable blasts without re-entering high-risk zones.

Syama mine managing director and general manager Mohamed Cisse welcomed the milestone.

“This milestone exemplifies our business values, specifically the adoption of new methods, systems and technology to improve safety and performance,” he said.

Resolute has planned to introduce WebGen across its underground operations and will assist the company in turning Syama into an automated mine.

The company expects WebGen will enhance efficiencies in Syama’s production cycle, including enhanced cave flow performance and ore recovery.

Resolute stated WebGen will prevent the consequences of hole dislocation and redrilling. Orica president Europe Middle East and Africa Tom Schutte said the software will unlock further value for Resolute.

“We are grateful to Resolute for their long-term cooperation in achieving this milestone,” he said.

“Our latest technologies, including WebGen, will create value for Resolute by enabling Syama mine to eliminate exposure of personnel in higher risk areas through safer pre-charging practices.”

Resolute has an 80 per cent interest in the Syama gold mine alongside Société des Mines de Syama S.A. (SOMISY). The Government of Mali has a 20 per cent interest in SOMISY.

Syama contains two separate processing plants including a 2.4-million-tonne-per-annum sulphide processing circuit and a 1.5 million-tonne-per-annum oxide processing circuit. Mining commenced during the September 2018 quarter, with the site containing a 14-year mine life.

UPDATE: South32 fulfils all conditions for sale of coal subsidiary

By Dayo Laniyan; [email protected]

S

OUTH32 Ltd on Monday said it has fulfilled all conditions for the sale of its 92% holding in

subsidiary South32 SA Energy Coal Holdings Pty Ltd to coal miner Seriti Resources Holdings Pty Ltd.

The Perth, Australia based metals and mining company said it expects the deal to be completed on June 1.

Earlier Monday, South African utility Eskom Holdings SOC Ltd had given its final consent to South32 for the sale. The coal supply agreement between both parties required that Eskom gives its consent for any change in the ownership of South32 SA Energy Coal, which supplies most of the coal requirements for the Duvha power station in Mpumalanga, South Africa.

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