TABLE OF CONTENTS. Look at the projected production of coal issuers in 2020 Menengok proyeksi produksi emiten-emiten batubara di 2020.

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IMA-Daily Update No. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

Demand Increases, December HBA Increases Slightly to US$66.3 per Ton

Permintaan Meningkat, HBA Desember Naik Tipis Jadi US$66,3 per Ton

Look at the projected production of coal issuers in 2020 Menengok proyeksi produksi emiten

2020

This is the strategy of Adaro (ADRO) to maintain performance amid the decline in coal prices

Begini strategi Adaro (ADRO) menjaga kinerja di tengah penurunan harga batubara

Darma Henwa won the Aneka Tambang project tender in Garut

Darma Henwa Menangi Tender Proyek Aneka Tambang di Garut

End of the Year, Coal Prices Expected to Strengthen Akhir Tahun, Harga Batu Bara Diperkirakan Menguat

Exports are banned, can domestic smelters process low grade nickel ore?

Ekspor dilarang, bisakah smelter dalam negeri mengolah ore nikel kadar rendah?

Smelter Development Targets Until 2022 Estimated To Be Missed

Target Pembangunan Smelter hingga 2022 Diperkirakan Meleset

The authority for mineral refining will be transferred to the Ministry of Industry, this is the EMR response

Kewenangan pemurnian mineral bakal dialihkan ke Kemenperin, ini respons ESDM

State Assets from the Coal Business Reach Rp37.6 Trillion Aset Negara dari Bisnis Batu Bara Tembus Rp37,6 Triliun

Coal Prices Difficult to Succeed Again Harga Batu Bara Sulit Kembali Berjaya

Agung Pribadi, Head of the Information and Cooperation Services Communication Bureau (KLIK) of the Ministry of Energy and Mineral Resources (ESDM), said ahead of the turn of the year the demand for coal increased, thereby encouraging an increase in coal prices. Demand for coal imports by several European countries also increased. "Based on global market conditions, the cause of the rising HBA in December is still influenced by increased demand for coal stockpiles ahead of winter," Agung told Dunia Energi, Friday (6/12).

HBA refers to the international market index. There are four indices used by the Ministry of Energy and Mineral Resources, namely the Indonesia Coal Index (ICI), the New Ca Global Coal (GC), the New Castle Export Index (NEX), and Platts59. The weight of each index is 25% in the HBA formula, meaning that coal price movements are influenced by inter national markets.

"Based on monthly HBA statistics, December HBA rose 0.04% compared to November. This was influenced by the increase in the monthly average index for the ICI index by 0.06%, the GCNC index rose 0.98%, Platt's rose 0.15%. While the NEX index fell 1.03%," said Agung.

Demand Increases, December

HBA Increases Slightly to

US$66.3 per Ton

trends in coal prices continue. The coal (HBA) for the December 2019 period rose sli ghtly compared to last month. Based on the Decree of the Minister of ESDM Number 246K/30/ MEM/2019 in the December HBA period ton. rose slightly compared to the November 2019 period of

Agung Pribadi, Head of the Information and Cooperation Services Communication Bureau (KLIK) of the Ministry of Energy and Mineral Resources (ESDM), said ahead of demand for coal increased, thereby encouraging an increase in coal prices. Demand for coal imports by several European countries also increased. "Based on global market conditions, the cause of the rising HBA in December is still emand for coal stockpiles ahead of winter," Agung told

HBA refers to the international market index. There are four indices used by the Ministry of Energy and Mineral Resources, namely the Indonesia Coal Index (ICI), the New Castle Global Coal (GC), the New Castle Export Index (NEX), and Platts59. The weight of each index is 25% in the HBA formula, meaning that coal price movements are influenced by

inter-"Based on monthly HBA statistics, December 0.04% compared to November. This was influenced by the increase in the monthly average index for the ICI index by 0.06%, the GCNC index rose 0.98%, Platt's rose 0.15%. While the NEX index fell 1.03%," said Agung.

Permintaan Meningkat, HBA

Desember Naik Tip

US$66,3 per Ton

Rio Indrawan

T

REN positif harga batubara masih berlanjut.

Harga Acuan Batubara (HBA) untuk periode Desember 2019 naik tipis dibanding bulan lalu. Berdasarkan Keputusan Menteri ESDM Nomor 246K/30/MEM/2019 pada periode Desember HBA tercatat US$66,3 per ton. naik tipis dibanding periode November 2019 sebesar US$66,27.

Agung Pribadi, Kepala Biro Komunikasi Layanan Informasi dan Kerja Sama (KLIK) Kementerian Energi dan Sumber Daya Mineral (ESDM), mengatakan jelang pergantian tahun permintaan batu bara meningkat, sehingga mendorong pening katan harga batu bara. Permintaan impor batu bara oleh beberapa negara Eropa juga meningkat.

“Berdasarkan kondisi pasar global, penyebab naiknya HBA Desember ini masih dipengaruhi peningkatan permintaan untuk stok batu bara menjelang musim dingin,” kata Agung kepada Dunia Energi, Jumat (6/12).

HBA merujuk pada index pasar internasional. Ada empat index yang dipakai Kementerian ESDM, yakni Indonesia Coal Index (ICI), New Castle Global Coal (GC), New Castle Export Index (NEX), dan Platts59. Adapun bobot masing-masing index sebesar 25% dalam formula HBA, artinya pergerakan harga batu bara dipengaruhi oleh pasar internasional. “Berdasarkan statistik HBA bulanan, HBA Desember naik 0,04% d

Ini dipengaruhi kenaikan rata

bulanan untuk index ICI sebesar 0,06%, indekst GCNC naik 0,98%, Platt’s naik 0,15%. Sedangkan index NEX turun 1,03%,” ungkap Agung.

Page 3

Permintaan Meningkat, HBA

Desember Naik Tipis Jadi

US$66,3 per Ton

Rio Indrawan

positif harga batubara masih berlanjut. Harga Acuan Batubara (HBA) untuk periode Desember 2019 naik tipis dibanding bulan lalu. Berdasarkan Keputusan Menteri ESDM Nomor 246K/30/MEM/2019 pada periode ercatat US$66,3 per ton. naik tipis dibanding periode November 2019 sebesar US$66,27.

Agung Pribadi, Kepala Biro Komunikasi Layanan Informasi dan Kerja Sama (KLIK) Kementerian Energi dan Sumber Daya Mineral (ESDM), mengatakan jelang pergantian tahun permintaan batu bara meningkat, sehingga mendorong pening-katan harga batu bara. Permintaan impor batu bara oleh beberapa negara Eropa juga

“Berdasarkan kondisi pasar global, penyebab naiknya HBA Desember ini masih dipengaruhi peningkatan permintaan untuk stok batu bara menjelang musim dingin,” kata Agung kepada Dunia Energi, Jumat (6/12).

HBA merujuk pada index pasar internasional. Ada empat index yang dipakai Kementerian ESDM, yakni Indonesia Coal Index (ICI), New l Coal (GC), New Castle Export Index (NEX), dan Platts59. Adapun bobot masing index sebesar 25% dalam formula HBA, artinya pergerakan harga batu bara dipengaruhi oleh pasar internasional. “Berdasarkan statistik HBA bulanan, HBA Desember naik 0,04% dibanding November. Ini dipengaruhi kenaikan rata-rata indeks bulanan untuk index ICI sebesar 0,06%, indekst GCNC naik 0,98%, Platt’s naik 0,15%. Sedangkan index NEX turun 1,03%,”

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IMA-Daily Update

This increase in coal is the second since the last few months. The previous coal down ward trend occurred since September 2018. At that time coal was at the level of US$ 104.81 per ton. Then corrected in the following month to US$ 100.89 per ton and continued in November at US$ 97.90 per ton. At the close of 2018, pri

weaken at the level of US$ 92.51 per ton. In early 2019 the downward trend in prices continued because the HBA was in the position of US$ 92.41 per ton. As one of the world's main consumers of coal, the Chinese government's policy that limit import quotas has been a major factor in weakening prices so far. (RI)

Look at the projected production

of coal issuers in 2020

Reporter: Dimas Andi | Editor: Azis Husaini

T

HE CO AL in dust ry is still full of

uncertainties because commodity prices are still vulnerable to pressure. This condition affects coal issuers in determining their production next year. Just so you know, the average reference coal price (HBA) from January

2019 only reached US$ 77.89 per ton. In fact, last year the average HBA reached 98.96 per ton.

PT Bumi Resources Tbk is one of the coal companies that ensures it will continue to increase its productivity. In 2020, the BUMI-coded issuer aims to grow coal production by 5% higher than this year's production projection of around 87 million to 90 million tons.

This increase in coal is the second since the The previous coal down-ward trend occurred since September 2018. At that time coal was at the level of US$ 104.81 per ton. Then corrected in the following month to US$ 100.89 per ton and continued in November at US$ 97.90 per ces will still weaken at the level of US$ 92.51 per ton. In early 2019 the downward trend in prices continued because the HBA was in the position of US$ 92.41 per ton. As one of the world's main consumers of coal, the Chinese government's policy that limits import quotas has been a major factor in

Kenaikan batu bara ini adalah yang kedua sejak beberapa bulan terakhir. Tren penurunan batu bara sebelumnya terjadi sejak Septmber 2018. Kala itu batu bara berada di level US$104,81 p

Kemudian terkoreksi di bulan berikutnya menjadi US$100,89 per ton dan berlanjut di November sebesar US$97,90 per ton. Pada penutupan 2018 pun harga masih melemah di level US$92,51 per ton.

Pada awal 2019 tren penurunan harga masih terjadi lantaran

posisi US$92,41 per ton. Sebagai salah satu konsumen utama batu bara dunia maka kebijakan pemerintah China yang mem batasi kuota impor menjadi faktor utama melemahnya harga selama ini.

Look at the projected production

of coal issuers in 2020

Reporter: Dimas Andi | Editor: Azis Husaini

industry is still full of uncertainties because commodity prices are still vulnerable to pressure. This affects coal issuers in determining their production next year. Just so you know, the average reference coal price (HBA) from January-December 2019 only reached US$ 77.89 per ton. In fact, last year the average HBA reached

Tbk is one of the coal companies that ensures it will continue to increase its productivity. In 2020, the coded issuer aims to grow coal production by 5% higher than this year's production projection of around 87 million

Menengok proyeksi produksi

emiten-emiten batubara di 2020

Reporter: Dimas Andi | Editor:

I

NDUSTRI batubara masih diliputi ketidak

pastian lantaran harga komoditas tersebut masih rentan tertekan. Kondisi ini mem pengaruhi emiten-emiten batubara dalam menentukan produksinya di tahun depan. Asal tahu saja, rata-rata harga batubara acuan (HBA) dari Januari

hanya mencapai US$ 77,89 per ton. Padahal, di tahun lalu rata-rata HBA mencapai 98,96 per ton.

PT Bumi Resources Tbk menjadi salah satu perusahaan batubara yang memastikan akan tetap meningkatkan produktivitasnya. Di tahun 2020, emiten berkode BUMI tersebut membidik pertumbuhan produksi batubara sebesar 5% lebih tinggi dibandingkan proyeksi produksi tahun ini sekitar 87 juta ton-90 juta ton.

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Kenaikan batu bara ini adalah yang kedua sejak beberapa bulan terakhir. Tren penurunan batu bara sebelumnya terjadi sejak Septmber 2018. Kala itu batu bara berada di level US$104,81 per ton. Kemudian terkoreksi di bulan berikutnya menjadi US$100,89 per ton dan berlanjut di November sebesar US$97,90 per ton. Pada penutupan 2018 pun harga masih melemah di level US$92,51 per ton.

Pada awal 2019 tren penurunan harga masih terjadi lantaran HBA berada di posisi US$92,41 per ton. Sebagai salah satu konsumen utama batu bara dunia maka kebijakan pemerintah China yang mem-batasi kuota impor menjadi faktor utama melemahnya harga selama ini. (RI)

proyeksi produksi

emiten batubara di 2020

| Editor: Azis Husaini

batubara masih diliputi ketidak-pastian lantaran harga komoditas tersebut masih rentan tertekan. Kondisi ini

mem-emiten batubara dalam menentukan produksinya di tahun depan.

rata harga batubara acuan (HBA) dari Januari-Desember 2019 hanya mencapai US$ 77,89 per ton. Padahal, rata HBA mencapai 98,96

T Bumi Resources Tbk menjadi salah satu perusahaan batubara yang memastikan akan tetap meningkatkan produktivitasnya. Di tahun 2020, emiten berkode BUMI tersebut membidik pertumbuhan produksi batubara sebesar 5% lebih tinggi dibandingkan tahun ini sekitar 87 juta

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IMA-Daily Update

Referring to this number, the target of BUMI's coal production in the year could reach 91.35 million tons - 94.5 million tons. BUMI Director and Corporate Secretary Dileep Srivastava said, BUMI always tried to increase its coal production from year to year. BUMI's management has not yet announced the realization of coal production in 2019.

However, the company will certainly continue to pursue production growth of 5% next year, regardless of whatever the realization of coal production this year. BUMI's own coal production will still be donated by the mines of PT Kaltim Prima Coal and PT Arutmin Indonesia. "We have invested a lot of funds to encourage coal production up to 100 million tons in the future," said Dileep, Friday (6/12).

Meanwhile, Director of PT ABM Investama Tbk (ABMM) Adrian Erlangga said, ABMM is targeting coal production of around 15 million tons in 2020. This figure is higher than this year's ABMM coal production target of around 11 million tons.

As for the third quarter, the company has produced 8.5 million tons of coal, up 19.72% (yoy).

The ABMM management actually has a picture of coal production for the next five years. However, Adrian has not been able to explain the company's coal production projections in more detail.

According to him, it is important for this company to set coal production targets in the long run. "If the target has been set well in advance, we can prepare the mining equipment needed faster," he said, Friday (8/12).

PT Indika Energy Tbk (INDY) has not yet set a coal production target for the next year.

Referring to this number, the target of BUMI's coal production in the year could 94.5 million tons. BUMI Director and Corporate Secretary Dileep Srivastava said, BUMI always tried crease its coal production from year to year. BUMI's management has not yet announced the realization of coal

However, the company will certainly continue to pursue production growth of 5% next year, regardless of whatever the

on of coal production this year. BUMI's own coal production will still be donated by the mines of PT Kaltim Prima Coal and PT Arutmin Indonesia. "We have invested a lot of funds to encourage coal production up to 100 million tons in the

p, Friday (6/12).

Meanwhile, Director of PT ABM Investama Tbk (ABMM) Adrian Erlangga said, ABMM is targeting coal production of around 15 million tons in 2020. This figure is higher than this year's ABMM coal production target of around 11 million tons.

for the third quarter, the company has produced 8.5 million tons of coal, up

The ABMM management actually has a picture of coal production for the next five years. However, Adrian has not been able to explain the company's coal production

According to him, it is important for this company to set coal production targets in the long run. "If the target has been set well in advance, we can prepare the mining equipment needed faster," he said, Friday

Energy Tbk (INDY) has not yet set a coal production target for the next

Jika mengacu pada angka tadi, maka target produksi batubara BUMI di tahun dapat mencapai 91,35 juta ton

Direktur dan Sekretaris Perusahaan BUMI Dileep Srivastava menyebut, BUMI selalu berusaha meningkatkan produksi batubara nya dari tahun ke tahun. Manajemen BUMI memang belum mengumumkan realisasi produksi batubara sepanjang tahun 2019 berjalan.

Namun, perusahaan dipastikan akan tetap mengejar pertumbuhan produksi

tahun depan, terlepas dari berapapun realisasi produksi batubara di tahun ini. Produksi batubara BUMI sendiri masih akan disumbangkan oleh tambang PT Kaltim Prima Coal dan PT Arutmin Indonesia. “Kami telah menginvestasikan banyak dana untuk mendorong produksi batubara hingga 100 juta ton di masa mendatang,” ungkap Dileep, Jumat (6/12).

Sementara itu, Direktur PT ABM Investama Tbk (ABMM) Adrian Erlangga menyampai ABMM menargetkan produksi batubara sekitar 15 juta ton pada tahun 2020 nanti. Angka tersebut lebih tinggi dari target produksi batubara ABMM di tahun ini yaitu sekitar 11 juta ton.

Adapun sampai kuartal tiga lalu, perusahaan telah memproduksi 8,5 juta ton batubara atau naik 19,72% (yoy).

Manajemen ABMM sebenarnya sudah me miliki gambaran produksi batubara hingga lima tahun ke depan. Namun, Adrian belum bisa menjelaskan proyeksi produksi batu bara perusahaan lebih rinci.

Menurutnya, penting bagi perusahaan ini untuk menetapkan target produksi batubara secara jangka panjang. “Kalau target

ditetapkan jauh-jauh hari, kami bisa men siapkan alat-alat tambang yang dibutuhkan lebih cepat,” ungkap dia, Jumat (8/12). PT Indika Energy Tbk (INDY) untuk semen tara belum menentukan target produksi batubara di tahun depan.

Page 5

Jika mengacu pada angka tadi, maka target produksi batubara BUMI di tahun dapat mencapai 91,35 juta ton-94,5 juta ton. Direktur dan Sekretaris Perusahaan BUMI

menyebut, BUMI selalu berusaha meningkatkan produksi batubara-nya dari tahun ke tahun. Manajemen BUMI memang belum mengumumkan realisasi produksi batubara sepanjang tahun 2019

Namun, perusahaan dipastikan akan tetap mengejar pertumbuhan produksi 5% di tahun depan, terlepas dari berapapun realisasi produksi batubara di tahun ini. Produksi batubara BUMI sendiri masih akan disumbangkan oleh tambang PT Kaltim Prima Coal dan PT Arutmin Indonesia. “Kami telah menginvestasikan banyak dana untuk ng produksi batubara hingga 100 juta ton di masa mendatang,” ungkap Dileep,

Sementara itu, Direktur PT ABM Investama (ABMM) Adrian Erlangga menyampaian, ABMM menargetkan produksi batubara sekitar 15 juta ton pada tahun 2020 nanti. tersebut lebih tinggi dari target produksi batubara ABMM di tahun ini yaitu

Adapun sampai kuartal tiga lalu, perusahaan telah memproduksi 8,5 juta ton batubara atau naik 19,72% (yoy).

Manajemen ABMM sebenarnya sudah me-n produksi batubara hime-ngga lima tahun ke depan. Namun, Adrian belum bisa menjelaskan proyeksi produksi batu-bara perusahaan lebih rinci.

Menurutnya, penting bagi perusahaan ini untuk menetapkan target produksi batubara secara jangka panjang. “Kalau target sudah jauh hari, kami bisa men-alat tambang yang dibutuhkan lebih cepat,” ungkap dia, Jumat (8/12). PT Indika Energy Tbk (INDY) untuk semen-tara belum menentukan target produksi batubara di tahun depan.

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IMA-Daily Update

"Regarding the production target, we are still in discussion and waiting for approval of the 2020 Annual Budget Work Plan (RKAB)," said INDY's Head of Corporate Communication Leonardus Herwindo, last weekend.

He argues, setting coal production targets depends on many factors.

important are market conditions both at home and abroad as well as technical factors such as mine conditions.

As is known, this year INDY is targeting coal production of 34 million tons from the PT Kideco Jaya Agung mine and 1.5 million tons from the PT Multi Tambangjaya Utama (MUTU) mine. As of last October, coal production from Kideco had reached 28.7 million tons while MUTU had produced 1.3 million tons of coal.

With the same amount of money, Corporate Secretary of PT Golden Energy Mines Tbk (GEMS) Sudin Sudirman said, the certainty of the GEMS coal production target still had to wait for the RKAB agreement. However, his par ty hin ted at an increase in coal production targets next year.

This year, GEMS targets to be able to produce around 30 million tons of coal. While the realization of production until last September has reached 20.7 million tons. Regardless of the coal production target later, GEMS will endeavor to maintain trust with customers in accordance with the applicable contract. The company is also trying to maintain its main market share in Indonesia, China and India. "We are also looking for new markets in South Korea, Vietnam, Malaysia and others," Sudin added, last Friday.

Previously, PT Toba Bara Sejahtra Tbk (TOBA) estimated that coal production in the next year would be in the range of 4 million tons. This amount is not much different from...

tion target, we are still in discussion and waiting for approval of the 2020 Annual Budget Work Plan (RKAB)," said INDY's Head of Corporate Communication Leonardus Herwindo, last

He argues, setting coal production targets depends on many factors. The most important are market conditions both at home and abroad as well as technical factors such as mine conditions.

As is known, this year INDY is targeting coal production of 34 million tons from the PT Kideco Jaya Agung mine and 1.5 million the PT Multi Tambangjaya Utama (MUTU) mine. As of last October, coal production from Kideco had reached 28.7 million tons while MUTU had produced 1.3 million tons of coal.

With the same amount of money, Corporate Secretary of PT Golden Energy Mines Tbk MS) Sudin Sudirman said, the certainty of the GEMS coal production target still had to wait for the RKAB agreement. However, his par ty hin ted at an increase in coal

This year, GEMS targets to be able to produce on tons of coal. While the realization of production until last September has reached 20.7 million tons. Regardless of the coal production target later, GEMS will endeavor to maintain trust with customers in accordance with the pany is also trying to maintain its main market share in Indonesia, China and India. "We are also looking for new markets in South Korea, Vietnam, Malaysia and others," Sudin

Previously, PT Toba Bara Sejahtra Tbk (TOBA) estimated that coal production in the next year would be in the range of 4-5 This amount is not much

“Terkait target produksi saat ini masih dalam diskusi dan menunggu persetujuan Rencana Kerja Anggaran Biaya Tahunan (RKAB) 2020,” kata Head of Corporate Communication INDY Leonardus Herwindo, akhir pekan lalu.

Ia berpendapat, penetapan target produksi batubara tergantung dari banyak faktor. Yang paling utama adalah kondisi pasar baik di dalam maupun luar negeri serta faktor teknis seperti kondisi tambang. Sebagaimana diketahui, tahun ini INDY menargetkan produksi batubara sebesar 34 juta ton dari tambang PT Kideco Jaya Agung dan 1,5 juta ton dari tambang PT Multi Tambangjaya Utama (MUTU). Per Oktober lalu, produksi batubara dari Kideco telah mencapai 28,7 juta ton sementara MUTU telah memproduksi 1,3 juta ton batubara. Setali tiga uang, Sekretaris Perusahaan PT Golden Energy Mines Tbk (GEMS) Sudin Sudirman bilang, kepastian target

batubara GEMS masih harus menunggu persetujuaan RKAB. Namun, pihaknya mengisyaratkan adanya kenaikan target produksi batubara di tahun depan.

Di tahun ini, GEMS menargetkan mampu memproduksi sekitar 30 juta ton batubara. Sementara realisasi produ

September lalu sudah mencapai 20,7 juta ton. Berapapun target produksi batubara nantinya, GEMS akan berupaya menjaga kepercayaan dengan para pelanggan sesuai kontrak yang berlaku. Perusahaan pun berusaha mempertahankan pangsa pasar utama yang berada di Indonesia, China, dan India. “Kami juga mencari pasar baru di Korea Selatan, Vietnam, Malaysia, dan lainnya,” tambah Sudin, Jumat lalu.

Sebelumnya, PT Toba Bara Sejahtra Tbk (TOBA) memperkirakan produksi batubara nya di tahun depan berada di kisa

juta ton. Jumlah ini tidak jauh berbeda dengan...

Page 6

“Terkait target produksi saat ini masih dalam diskusi dan menunggu persetujuan Rencana Kerja Anggaran Biaya Tahunan (RKAB) 2020,” kata Head of Corporate Communication INDY Leonardus Herwindo,

Ia berpendapat, penetapan target produksi batubara tergantung dari banyak faktor. Yang paling utama adalah kondisi pasar ik di dalam maupun luar negeri serta faktor teknis seperti kondisi tambang. Sebagaimana diketahui, tahun ini INDY menargetkan produksi batubara sebesar 34 juta ton dari tambang PT Kideco Jaya Agung dan 1,5 juta ton dari tambang PT Multi (MUTU). Per Oktober lalu, produksi batubara dari Kideco telah mencapai 28,7 juta ton sementara MUTU telah memproduksi 1,3 juta ton batubara. Setali tiga uang, Sekretaris Perusahaan PT Golden Energy Mines Tbk (GEMS) Sudin Sudirman bilang, kepastian target produksi batubara GEMS masih harus menunggu persetujuaan RKAB. Namun, pihaknya mengisyaratkan adanya kenaikan target produksi batubara di tahun depan.

Di tahun ini, GEMS menargetkan mampu memproduksi sekitar 30 juta ton batubara. Sementara realisasi produksi hingga September lalu sudah mencapai 20,7 juta ton. Berapapun target produksi batubara nantinya, GEMS akan berupaya menjaga kepercayaan dengan para pelanggan sesuai kontrak yang berlaku. Perusahaan pun berusaha mempertahankan pangsa pasar erada di Indonesia, China, dan India. “Kami juga mencari pasar baru di Korea Selatan, Vietnam, Malaysia, dan lainnya,” tambah Sudin, Jumat lalu.

Sebelumnya, PT Toba Bara Sejahtra Tbk (TOBA) memperkirakan produksi batubara-nya di tahun depan berada di kisaran 4-5

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IMA-Daily Update

This amount is not much different from this year's production target of around 5 million tons. In the third quarter, TOBA's coal production was recorded at 3.3 million tons, down 17.5% (yoy).

"If the price of coal drops again, we will boost production to 4 million tons. If it improves, we increase it to 5 million tons," said TOBA Director Pandu Patria Sjahrir, Wednesday (4/12).

In addition to the condition of coal prices which are considered unstable, the reason for TOBA not to set grandiose production targets is because the company is working on a number of steam power plant projects (PLTU).♦

This is the strategy of Adaro

(ADRO) to maintain performance

amid the decline in coal prices

Reporter: Benedicta Prima Noverius Laoli

P

T ADARO Ene rgy Tb k (ADRO)

successfully recorded a solid performance amid the decline in coal prices. Adaro's revenue only decreased slightly in the third quarter of 2019 to US$ 2.65 billion from the same period the previous year US$ 2.67 billion.

President Director and Chief Executive Officer (CEO) Garibaldi Thohir said the solid performance was supported by a good increase in annual volume because coal demand was still high. But he could not close his eyes that the macroecono and industrial challenges still put pressure on global coal prices.

This amount is not much different from this year's production target of around 5 million tons. In the third quarter, TOBA's coal production was recorded at 3.3 million tons, down 17.5% (yoy).

he price of coal drops again, we will boost production to 4 million tons. If it improves, we increase it to 5 million tons," said TOBA Director Pandu Patria Sjahrir,

In addition to the condition of coal prices e, the reason for TOBA not to set grandiose production targets is because the company is working on a number of steam power plant projects

Jumlah ini tidak jauh berbeda dengan target produksi di tahun ini sekitar 5 juta ton. Adapun di kuartal tiga lalu, produksi batubara TOBA tercatat sebesar 3,3 juta ton atau turun 17,5% (yoy).

“Kalau harga batubaranya turun lagi, kami genjot produksi sampa

membaik, kami naikkan sampai 5 juta ton,” kata Direktur TOBA Pandu Patria Sjahrir, Rabu (4/12) lalu.

Di samping kondisi harga batubara yang dianggap kurang stabil, alasan TOBA tidak pasang target produksi muluk

dikarenakan perusahaan sedang meng garap sejumlah proyek pemban

tenaga uap (PLTU).♦

This is the strategy of Adaro

(ADRO) to maintain performance

amid the decline in coal prices

| Editor:

Energy Tbk (ADRO) successfully recorded a solid performance amid the decline in coal prices. Adaro's revenue only decreased slightly in the third quarter of 2019 to US$ 2.65 billion from the same period the previous year of

President Director and Chief Executive Officer (CEO) Garibaldi Thohir said the solid performance was supported by a good increase in annual volume because coal demand was still high. But he could not close his eyes that the macroeconomic and industrial challenges still put pressure

Begini strategi Adaro (ADRO)

menjaga kinerja di tengah

penurunan harga batubara

Reporter: Benedicta Prima Noverius Laoli

P

T ADARO Energy Tbk (

mencatatkan kinerja yang solid di tengah penurunan harga batubara. Pendapatan Adaro hanya turun cenderung tipis pada kuartal III-2019 menjadi US$ 2,65 miliar dari periode yang sama tahun sebelumnya US$ 2,67 miliar.

Presiden Direktur dan Chief Executive Officer (CEO) Garibaldi Thohir mengata kan, kinerja solid tersebut didukung peningkatan volume tahunan yang baik karena permintaan batubara masih tinggi. Namun dia tak bisa menutup mata bahwa tantangan ekonomi makro dan industri masih memberi tekanan terhadap harga batubara global.

Page 7

Jumlah ini tidak jauh berbeda dengan target produksi di tahun ini sekitar 5 juta ton. Adapun di kuartal tiga lalu, produksi batubara TOBA tercatat sebesar 3,3 juta ton atau turun 17,5% (yoy).

“Kalau harga batubaranya turun lagi, kami genjot produksi sampai 4 juta ton. Kalau membaik, kami naikkan sampai 5 juta ton,” kata Direktur TOBA Pandu Patria Sjahrir,

Di samping kondisi harga batubara yang dianggap kurang stabil, alasan TOBA tidak pasang target produksi muluk-muluk haan sedang meng-garap sejumlah proyek pembangkit listrik

Begini strategi Adaro (ADRO)

menjaga kinerja di tengah

penurunan harga batubara

Benedicta Prima | Editor: Noverius Laoli

Energy Tbk (ADRO) sukses mencatatkan kinerja yang solid di tengah penurunan harga batubara. Pendapatan Adaro hanya turun cenderung tipis pada 2019 menjadi US$ 2,65 miliar dari periode yang sama tahun sebelumnya

Presiden Direktur dan Chief Executive Officer (CEO) Garibaldi Thohir mengata-kan, kinerja solid tersebut didukung peningkatan volume tahunan yang baik karena permintaan batubara masih tinggi. Namun dia tak bisa menutup mata bahwa ekonomi makro dan industri masih memberi tekanan terhadap harga

(8)

IMA-Daily Update

"In the midst of difficult conditions, we continue to focus on operational excellence and efficiency. We also remain optimistic about the coal market fundamentals in the long run and continue to execute corporate strategies designed for sustainable business," Garibaldi said in a written release received by Kontan,

(5/12).

In the same period, the company's sales volume rose 14% on an annual basis (yoy) to 44.66 metric tons (mt), but the average selling price fell 13% yoy due to weakening coal prices. Then, the total coal production until the third quarter of 2019 reached 44.13 mt, up 13% yoy. With this position, the company expects to achieve its production guidelines for 2019, which is 54 mt - 56 mt.

Meanwhile, ADRO's cost of revenue grew 4% year-on-year from US$ 1.78 billion to US$ 1.85 billion. The increase in expenses was driven by increases in volume and the price of fuel oil (BBM).

Total fuel costs rose 3% yoy due to increase in fuel consumption to support higher production volumes and over burden removal compared to the same period last year.

As the volume of overburden removal rose in the third quarter, the combined average ADRO strip ratio reached 4.76 times, or slightly higher than the guidance set at 4.56 times.

However, coal cash costs fell 6% due to ongoing efficiency efforts along the ADRO coal supply chain. Meanwhile royalties paid to the government rose 2% yoy to US$ 283 million due to an increase in sales volume.

Under these conditions, ADRO posted profit for the year attributable to the parent company of US$ 405.99 million, up 29.83% yoy from US$ 312.71 million.

"In the midst of difficult conditions, we continue to focus on operational excellence and efficiency. We also remain optimistic about the coal market fundamentals in the run and continue to execute corporate strategies designed for sustainable business," Garibaldi said in a written release received by Kontan, Monday

In the same period, the company's sales volume rose 14% on an annual basis (yoy) ns (mt), but the average selling price fell 13% yoy due to weakening coal prices. Then, the total coal production until the third quarter of 2019 reached 44.13 mt, up 13% yoy. With this position, the company expects to achieve its 2019, which is

Meanwhile, ADRO's cost of revenue grew year from US$ 1.78 billion to US$ 1.85 billion. The increase in expenses was driven by increases in volume and the

Total fuel costs rose 3% yoy due to an increase in fuel consumption to support higher production volumes and over-burden removal compared to the same

As the volume of overburden removal rose in the third quarter, the combined average ADRO strip ratio reached 4.76 times, or slightly higher than the guidance set at

However, coal cash costs fell 6% due to ongoing efficiency efforts along the ADRO coal supply chain. Meanwhile royalties paid to the government rose 2% yoy to US$ 283 million due to an increase in sales

Under these conditions, ADRO posted profit for the year attributable to the parent company of US$ 405.99 million, up 29.83% yoy from US$ 312.71 million.

"Di tengah kondisi yang sulit, kami terus berfokus pada keunggulan operasional dan efisiensi. Kami juga tetap optimistis dengan fundamental pasar batubara di jangka panjang dan terus mengeksekusi strategi perusahaan yang dirancang untuk bisnis yang berkelanjutan," ujar Garibaldi dalam rilis tertulis yang diterima Kontan, Senin (5/12).

Dalam periode yang sama, volume penjualan perusahaan naik 14% secara tahunan (yoy) menjadi 44,66 metrik ton (mt), namun harga jual rata-rata turun 13% yoy akibat melemahnya harga batubara. Kemudian, total produksi batubara hingga kuartal III mencapai 44,13 mt ata

Dengan posisi ini, perusahaan memper kirakan dapat mencapai panduan produksi nya untuk tahun 2019 yaitu 54 mt

Sementara itu, beban pokok pendapatan ADRO tercatat tumbuh 4% yoy dari US$ 1,78 miliar menjadi US$ 1,85 miliar. Kenaikan beban didorong oleh naiknya volume maupun harga bahan bakar minyak (BBM).

Total biaya BBM tercatat naik 3% yoy karena peningkatan konsumsi BBM untuk men dukung volume produksi dan pengupasan lapisan penutup yang lebih tinggi dibanding kan periode yang sama tahun lalu.

Karena volume pengupasan lapisan penutup naik pada kuartal tiga ini, nisbah kupas gabungan rata-rata ADRO mencapai 4,76 kali, atau sedikit lebih tinggi daripada panduan yang ditetapkan sebesar 4,56 kali.

Namun biaya kas batu bara turun 6%

adanya upaya efisiensi yang terus dilakukan di sepanjang rantai pasokan batubara ADRO. Sedangkan royalti yang dibayarkan kepada pemerintah naik 2% yoy menjadi US$ 283 juta karena adanya kenaikan volume pen jualan.

Dengan kondisi tersebut ADRO menca laba periode berjalan yang dapat diatribusi kan kepada entitas induk sebesar US$ 405,99 juta atau naik 29,83% yoy dari US$ 312,71 juta.

Page 8

"Di tengah kondisi yang sulit, kami terus berfokus pada keunggulan operasional dan Kami juga tetap optimistis dengan fundamental pasar batubara di jangka panjang dan terus mengeksekusi strategi perusahaan yang dirancang untuk bisnis yang berkelanjutan," ujar Garibaldi dalam rilis tertulis yang diterima Kontan, Senin

e yang sama, volume penjualan perusahaan naik 14% secara tahunan (yoy) menjadi 44,66 metrik ton (mt), namun harga rata turun 13% yoy akibat melemahnya harga batubara. Kemudian, total produksi batubara hingga kuartal III-2019 mencapai 44,13 mt atau naik 13% yoy. Dengan posisi ini, perusahaan memper-kirakan dapat mencapai panduan produksi-nya untuk tahun 2019 yaitu 54 mt - 56 mt. Sementara itu, beban pokok pendapatan ADRO tercatat tumbuh 4% yoy dari US$ 1,78 miliar menjadi US$ 1,85 miliar. Kenaikan beban didorong oleh naiknya volume maupun harga bahan bakar minyak (BBM).

Total biaya BBM tercatat naik 3% yoy karena peningkatan konsumsi BBM untuk men-dukung volume produksi dan pengupasan lapisan penutup yang lebih tinggi

dibanding-ma tahun lalu.

Karena volume pengupasan lapisan penutup naik pada kuartal tiga ini, nisbah kupas rata ADRO mencapai 4,76 kali, atau sedikit lebih tinggi daripada panduan yang ditetapkan sebesar 4,56 kali.

Namun biaya kas batu bara turun 6% dengan adanya upaya efisiensi yang terus dilakukan di sepanjang rantai pasokan batubara ADRO. Sedangkan royalti yang dibayarkan kepada pemerintah naik 2% yoy menjadi US$ 283 juta karena adanya kenaikan volume

pen-Dengan kondisi tersebut ADRO mencatatkan laba periode berjalan yang dapat diatribusi-kan kepada entitas induk sebesar US$ 405,99 juta atau naik 29,83% yoy dari US$ 312,71

(9)

IMA-Daily Update

Then the company's operational EBITDA was recorded at US$ 976 million, down 8% yoy from US$ 1.06 billion. ADRO also recorded an operational EBITDA margin of 37%. This is in line with the 2019 operational EBITDA guidelines set at US$ 1 billion - US$ 1.2 billion.♦

Darma Henwa won the Aneka

Tambang project tender in Garut

Editor

T

HE PERFORMANCE of PT Darma Henwa

Tbk (DEWA), a mining services issuer, is projected to improve along with the company's involvement in the mineral mining services business. Not long ago, Darma Henwa won the auction for infrastructure, mining and gold processing in Arinem, Garut, West Java, owned by PT Aneka Tambang Tbk (ANTM).

The Arinem gold mine project will begin in early December 2019 and is targeted for completion within five months.

Wisnu Wahyudin, Darma Henwa's Chief Non-Coal Operation Officer, said the gold infrastructure, mining and processing project had an investment of Rp14.7 billion. The total mining contract volume is 95,000 bcm, consisting of 67,000 bcm waste and 28,000 bcm ore with 60% recovery to become gold.

"With the achievement of this work, it is expected to become the entrance of the Company to be able to work on the next production stages in the Arinem gold mining project," Wisnu said in his written statement.

Then the company's operational EBITDA was recorded at US$ 976 million, down 8% yoy from US$ 1.06 billion. ADRO also recorded an operational EBITDA margin of This is in line with the 2019 operational EBITDA guidelines set at US$ 1

Kemudian EBITDA operasional perusahaan tercatat US$ 976 juta atau turun 8% yoy dari US$ 1,06 miliar. ADRO juga mencatat marjin EBITDA operasional sebesar 37%. Hal ini sejalan dengan panduan EBITDA operasional tahun 2019 yang ditetapkan kisaran US$ 1 miliar - US$ 1,2 miliar.

Darma Henwa won the Aneka

Tambang project tender in Garut

of PT Darma Henwa Tbk (DEWA), a mining services issuer, is projected to improve along with the company's involvement in the mineral mining services business. Not long ago, Darma Henwa won the auction for infrastructure, mining and gold processing m, Garut, West Java, owned by PT

The Arinem gold mine project will begin in early December 2019 and is targeted for completion within five months.

Wisnu Wahyudin, Darma Henwa's Chief Coal Operation Officer, said the gold infrastructure, mining and processing project had an investment of Rp14.7 billion. The total mining contract volume is 95,000 bcm, consisting of 67,000 bcm waste and 28,000 bcm ore with 60%

"With the achievement of this work, it is expected to become the entrance of the Company to be able to work on the next production stages in the Arinem gold mining project," Wisnu said in his written

Darma Henwa Menangi Tender

Proyek Aneka Tambang di Garut

Redaktur

K

INERJA PT Darma H

emiten jasa pertambangan, diproyeksikan membaik seiring keterlibatan perusahaan pada bisnis jasa penambangan mineral. Belum lama berselang, Darma Henwa ber hasil memenangi lelang pekerjaan infra struktur, penambangan, dan pengolahan emas di Arinem, Garut, Jawa Barat, milik PT Aneka Tambang Tbk (ANTM).

Pengerjaan proyek tambang emas Arinem ini dimulai awal Desember 2019 dan ditargetkan selesai dalam waktu lima bulan.

Wisnu Wahyudin, Chief Operation Officer Non-Coal Darma Henwa, mengatakan proyek infrastruktur, penambangan, dan pengolahan emas tersebut memilki inves tasi Rp14,7 miliar. Jumlah volume kontrak pertambangan sebesar 95.000 bcm, terdiri atas 67.000 bcm waste dan 28.000 bcm ore dengan 60% pemulihan untuk menjadi emas.

“Dengan capaian diraihnya pekerjaan ini, diharapkan menjadi pintu masuk Perseroan untuk dapat

tahapan produksi selanjutnya di proyek penambangan emas Arinem,” ujar Wisnu dalam keterangan tertulisnya.

Page 9

Kemudian EBITDA operasional perusahaan tercatat US$ 976 juta atau turun 8% yoy ADRO juga mencatat marjin EBITDA operasional sebesar 37%. Hal ini sejalan dengan panduan EBITDA operasional tahun 2019 yang ditetapkan

US$ 1,2 miliar.♦

Darma Henwa Menangi Tender

Proyek Aneka Tambang di Garut

Redaktur

PT Darma Henwa Tbk (DEWA), emiten jasa pertambangan, diproyeksikan membaik seiring keterlibatan perusahaan pada bisnis jasa penambangan mineral. Belum lama berselang, Darma Henwa ber-hasil memenangi lelang pekerjaan infra-struktur, penambangan, dan pengolahan

i Arinem, Garut, Jawa Barat, milik PT Aneka Tambang Tbk (ANTM).

Pengerjaan proyek tambang emas Arinem ini dimulai awal Desember 2019 dan ditargetkan selesai dalam waktu lima

Wisnu Wahyudin, Chief Operation Officer Coal Darma Henwa, mengatakan oyek infrastruktur, penambangan, dan pengolahan emas tersebut memilki inves-tasi Rp14,7 miliar. Jumlah volume kontrak pertambangan sebesar 95.000 bcm, terdiri atas 67.000 bcm waste dan 28.000 bcm ore dengan 60% pemulihan untuk menjadi

diraihnya pekerjaan ini, diharapkan menjadi pintu masuk Perseroan untuk dapat mengerjakan tahapan produksi selanjutnya di proyek penambangan emas Arinem,” ujar Wisnu dalam keterangan tertulisnya.

(10)

IMA-Daily Update

Wisnu said that Darma Henwa is currently in the process of obtaining several other potential projects from the non business, including the

pre-earthworks projects in zinc and tin mining in Dairi, North Sumatra and the road construction project at the gold mine in Tombulilato, Blok Mek River, Goron Province. In addition, infrastructure development projects, drilling exploration, and gold mining activities in Palu, Central Sulawesi.

Until the third quarter of 2019, Darma Henwa managed to book a net profit of US$ 1.19 million, up 44.32% compared to the same period in the previous year of US$ 826,192. Muksin Arif Rosyadi, Corporarte Secretary Darma Henwa, explained, the increase was supported by increased production volume and company efficiency. The company's gross profit rose by 64% to US$ 17.31 million from the same period the previous year of US$ 6.6 million. The increase in corporate profits was also driven by an increase in revenue

from US$ 188.86 million to US$ 237.92 million. The majority of the company's revenue comes from coal contracting services, namely the Bengalon coal mine in East Kalimantan Province owned by PT Kaltim Prima Coal, which

revenues of US$ 165.09 million. Then, the Asam Asam coal mine in South Kalimantan Province owned by PT Arutmin Indonesia was recorded at US$ 60.84 million. In addition, the Satui coal mine in South Kalimantan Province, which is managed by another company's client and then P Cakrawala Langit Sejahtera, contributed revenues of US$ 10.22 million.

Until the end of September 2019, the company's Coal Delivery reached 11.44 million tons, growing 22.08% from 9.37 million tons in the same period last year. Overburden also rose...

Wisnu said that Darma Henwa is currently obtaining several other potential projects from the non-coal -mining and earthworks projects in zinc and tin mining in Dairi, North Sumatra and the road construction project at the gold mine in Tombulilato, Blok Mek River, Gorontalo Province. In addition, infrastructure development projects, drilling exploration, and gold mining activities in Palu, Central

Until the third quarter of 2019, Darma Henwa managed to book a net profit of US$ 1.19 million, up 44.32% compared to the same period in the previous year of US$ 826,192. Muksin Arif Rosyadi, Corporarte Secretary Darma Henwa, explained, the ported by increased production volume and company efficiency. The company's gross profit rose by 64% to US$ 17.31 million from the same period the previous year of US$ 6.6 million. The increase in corporate profits was also driven by an increase in revenue of 25.97% from US$ 188.86 million to US$ 237.92 million. The majority of the company's revenue comes from coal contracting services, namely the Bengalon coal mine in East Kalimantan Province owned by PT Kaltim Prima Coal, which provides 5.09 million. Then, the Asam Asam coal mine in South Kalimantan Province owned by PT Arutmin Indonesia was recorded at US$ 60.84 million. In addition, the Satui coal mine in South Kalimantan Province, which is managed by another company's client and then PT Cakrawala Langit Sejahtera, contributed

Until the end of September 2019, the company's Coal Delivery reached 11.44 million tons, growing 22.08% from 9.37 million tons in the same period last year.

Wisnu menyebutkan Darma Henwa saat ini dalam proses mendapatkan beberapa proyek potensial lainnya dari bisnis non batubara, antara lain proyek pengerjaan pre-mining dan earthworks di penam bangan seng dan timah di Dairi, Sumatra Utara dan proyek pengerjaan

truction pada tambang emas di Tombulilato, Blok Sungai Mek, Provinsi Gorontalo. Selain itu, proyek pembangunan infrastruktur, drilling exploration, dan aktivitas penam bangan emas di Palu, Sulawesi Tengah. Hingga kuartal III 2019, Darma Henwa berhasil membukukan laba bersih sebesar US$ 1,19 juta, naik 44,32% dibandingkan periode sama pada tahun sebelumnya sebesar US$ 826.192. Muksin Arif Rosyadi, Corporarte Secretary Darma Henwa, menjelaskan, kenaikan tersebut ditopang dari meningkatnya volume prod

efisiensi perseroan. Adapun laba bruto (gross profit) perseroan naik sebesar 64% menjadi US$ 17,31 juta dari periode yang sama tahun sebelumnya sebesar US$ 6,6 juta.

Kenaikan laba perusahaan juga didorong peningkatan pendapatan 25,97% dari US$ 188,86 juta menjadi US$ 237,92 juta. Mayoritas pendapatan perseroan berasal dari jasa kontraktor batubara yakni tambang batubara Bengalon di Provinsi Kalimantan Timur yang dimiliki PT Kaltim Prima Coal, yang memberikan pendapatan US$ 165,09 juta. Kemudian,

batubara Asam Asam di Provinsi Kalimantan Selatan milik PT Arutmin Indonesia tercatat US$ 60,84 juta. Selain itu, tambang batubara Satui di Provinsi Kalimantan Selatan yang dikelola klien perseroan lainnya kemudian PT Cakrawala Langit Sejahtera, me

bang pendapatan US$ 10,22 juta.

Hingga akhir September 2019, Coal Delivery perseroan mencapai 11,44 juta ton tumbuh 22,08% dari 9,37 juta ton di periode yang sama tahun lalu. Overburden pun naik

Page 10

snu menyebutkan Darma Henwa saat ini dalam proses mendapatkan beberapa proyek potensial lainnya dari bisnis non-batubara, antara lain proyek pengerjaan

mining dan earthworks di penam-bangan seng dan timah di Dairi, Sumatra Utara dan proyek pengerjaan road

cons-pada tambang emas di Tombulilato, Blok Sungai Mek, Provinsi Gorontalo. Selain itu, proyek pembangunan infrastruktur, drilling exploration, dan aktivitas penam-bangan emas di Palu, Sulawesi Tengah. Hingga kuartal III 2019, Darma Henwa

asil membukukan laba bersih sebesar US$ 1,19 juta, naik 44,32% dibandingkan periode sama pada tahun sebelumnya sebesar US$ 826.192. Muksin Arif Rosyadi, Corporarte Secretary Darma Henwa, menjelaskan, kenaikan tersebut ditopang dari meningkatnya volume produksi serta efisiensi perseroan. Adapun laba bruto ) perseroan naik sebesar 64% menjadi US$ 17,31 juta dari periode yang sama tahun sebelumnya sebesar US$ 6,6

Kenaikan laba perusahaan juga didorong peningkatan pendapatan 25,97% dari US$ 88,86 juta menjadi US$ 237,92 juta. Mayoritas pendapatan perseroan berasal dari jasa kontraktor batubara yakni tambang batubara Bengalon di Provinsi Kalimantan Timur yang dimiliki PT Kaltim Prima Coal, yang memberikan pendapatan US$ 165,09 juta. Kemudian, tambang batubara Asam Asam di Provinsi Kalimantan Selatan milik PT Arutmin Indonesia tercatat US$ 60,84 juta. Selain itu, tambang batubara Satui di Provinsi Kalimantan Selatan yang dikelola klien perseroan lainnya kemudian PT Cakrawala Langit Sejahtera, menyum-bang pendapatan US$ 10,22 juta.

Hingga akhir September 2019, Coal Delivery perseroan mencapai 11,44 juta ton tumbuh 22,08% dari 9,37 juta ton di periode yang

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IMA-Daily Update

Overburden also rose 9.13% from 75.77 million Bcm to 82.7 million Bcm. In addition, the stripping ratio in the three coal mines that the company worked on ranged between 5.59 and 8.46.

End of the Year, Coal Prices

Expected to Strengthen

Rangga Prakoso

C

OAL prices strengthened slightly at the

end of 2019. But it is still around US$ 60/ton. The Ministry of Energy and Mineral Resources (ESDM) set a Reference Coal Price (HBA) for the December 2019 period of US$ 66.30. This value increased slightly compared to the previous month at the level of US$ 66.27/ton.

The Director of Coal Development and Business of the Ministry of ESDM sujatmiko said the price of coal in December was indeed stronger than in November of around US$ 0.03/ton.

"December HBA is set at US$ 66. said Sujatmiko in Jakarta, Friday (6/12). Sujatmiko said that the determination of the HBA refers to the movement of world coal prices. The determination of HBA refers to the international market index. There are 4 indexes used by the Ministry of Energy and Mineral Resources, namely Indonesia Coal Index (ICI), New Castle Global Coal (GC), New Castle Export Index (NEX), and Platts59.

The weight of each index is 25% in the HBA formula. He explained that coal prices had strengthened slightly in line w world demand entering the winter. A number of countries in Asia and Europe increase coal supply before winter.

Overburden also rose 9.13% from 75.77 82.7 million Bcm. In addition, the stripping ratio in the three coal mines that the company worked on ranged between 5.59 and 8.46. (RA)

Overburden pun naik 9,13% dari 75,77 juta Bcm ke posisi 82,7 juta Bcm. Selain itu, rasio pengupasan (stripping ratio

tiga tambang batubara yang digarap per seroan berkisar antara 5,59 dan 8,46.

End of the Year, Coal Prices

Expected to Strengthen

prices strengthened slightly at the end of 2019. But it is still around US$ 60/ton. The Ministry of Energy and Mineral Resources (ESDM) set a Reference Coal Price (HBA) for the December 2019 period of US$ 66.30. This value increased he previous month at

The Director of Coal Development and Business of the Ministry of ESDM sujatmiko said the price of coal in December was indeed stronger than in November of around US$ 0.03/ton.

"December HBA is set at US$ 66.30/ton," said Sujatmiko in Jakarta, Friday (6/12). Sujatmiko said that the determination of the HBA refers to the movement of world coal prices. The determination of HBA refers to the international market index. There are 4 indexes used by the Ministry of Energy and Mineral Resources, namely Indonesia Coal Index (ICI), New Castle Global Coal (GC), New Castle Export Index

The weight of each index is 25% in the HBA formula. He explained that coal prices had strengthened slightly in line with world demand entering the winter. A number of countries in Asia and Europe increase coal supply before winter.

Akhir Tahun, Harga Batu Bara

Diperkirakan Menguat

Rangga Prakoso

H

ARGA batubara menguat tipis di

hujung 2019 ini. Namun masih dikisara US$60-an/ton. Kementerian Energi dan Sumber Daya Mineral (ESDM) menetapkan Harga Batubara Acuan (HBA) periode Desember 2019 sebesar US$66,30. Nilai tersebut sedikit naik dibandingkan bulan sebelumnya yang berada di level US$ 66,27/ton.

Direktur Pembinaan dan Pengusahaan Batu Bara Kementerian ESDM sujatmiko mengatakan harga batu bara di Desember memang lebih menguat dibandingkan pada November kemarin sekitar US$0,03/ton. "HBA Desember ditetapkan US$66,30/ton," kata Sujatmiko di Jakarta, Jumat (6/12). Sujatmiko menuturkan penetapan HBA merujuk pada pergerakan harga batu bara dunia. Penetapan HBA merujuk pada index pasar internasional. Ada 4 index yang dipakai Kementerian ESDM yakni Indonesia Coal Index (ICI), New Castle Global Coal (GC), New Castle Export

Platts59.

Adapun bobot masing

sebesar 25% dalam formula HBA. Dia menerangkan harga batu bara menguat tipis seiring dengan permintaan dunia memasuki musim dingin. Sejumlah negara di Asia dan Eropa menambah persediaan batu bara menjelang musim dingin.

Page 11

Overburden pun naik 9,13% dari 75,77 juta Bcm ke posisi 82,7 juta Bcm. Selain itu,

stripping ratio) pada

tiga tambang batubara yang digarap per-seroan berkisar antara 5,59 dan 8,46. (RA)

Akhir Tahun, Harga Batu Bara

Diperkirakan Menguat

Rangga Prakoso

batubara menguat tipis di peng-hujung 2019 ini. Namun masih dikisaran

an/ton. Kementerian Energi dan Sumber Daya Mineral (ESDM) menetapkan Harga Batubara Acuan (HBA) periode Desember 2019 sebesar US$66,30. Nilai tersebut sedikit naik dibandingkan bulan sebelumnya yang berada di level US$

n dan Pengusahaan Batu Bara Kementerian ESDM sujatmiko mengatakan harga batu bara di Desember memang lebih menguat dibandingkan pada November kemarin sekitar US$0,03/ton. "HBA Desember ditetapkan US$66,30/ton," kata Sujatmiko di Jakarta, Jumat (6/12).

jatmiko menuturkan penetapan HBA merujuk pada pergerakan harga batu bara dunia. Penetapan HBA merujuk pada index pasar internasional. Ada 4 index yang dipakai Kementerian ESDM yakni Indonesia Coal Index (ICI), New Castle Global Coal (GC), New Castle Export Index (NEX), dan

Adapun bobot masing-masing index sebesar 25% dalam formula HBA. Dia menerangkan harga batu bara menguat tipis seiring dengan permintaan dunia memasuki musim dingin. Sejumlah negara di Asia dan Eropa menambah persediaan

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IMA-Daily Update

"Demand for coal imports by several European countries also recorded an increase," he said.

Meanwhile, Executive Director of the Indonesian Coal Mining Association (APBI) Hendra Sinadia explained that price movements ahead of winter are common. But he said the price would not return to the level of US$ 80/ton because coal stocks in the market were still abundant. "Prices have indeed rebounded but there are still many stocks," he said.

The weakening of coal prices was seen since September 2018 yesterday. At that time the price of coal was in the position of US$ 104.81/ton. Then corrected the following month to US$ 100.89

continued in November at US$ 97.90 At the close of 2018, prices were still weakening at the level of US$ 92.51/ton.

While in early 2019 the downward trend in prices continued because the HBA was in the position of US$ 92.41/ton. Prices continue to decline to the level of US$ 60/ton in recent months.

Chinese government policy is a major factor in coal price movements. At the end of 2017 until mid-2018 prices soared as coal import faucets opened. But towards the end of 2018, China restricted coal imports.

As a result, prices are depressed while supplies are abundant. In addition, Russia also shifted its market to the Asian region which made coal stocks in the inter national market increase.♦

"Demand for coal imports by several European countries also recorded an

Meanwhile, Executive Director of the Indonesian Coal Mining Association (APBI) Hendra Sinadia explained that price winter are common. But he said the price would not return to ton because coal stocks in the market were still abundant. "Prices have indeed rebounded but there are still

The weakening of coal prices was seen September 2018 yesterday. At that time the price of coal was in the position of ton. Then corrected the following month to US$ 100.89/ton and $ 97.90/ton. At the close of 2018, prices were still

of US$ 92.51/ton.

While in early 2019 the downward trend in prices continued because the HBA was in the position of US$ 92.41/ton. Prices continue to decline to the level of US$

Chinese government policy is a major price movements. At the end 2018 prices soared as coal import faucets opened. But towards the end of 2018, China restricted coal

As a result, prices are depressed while supplies are abundant. In addition, Russia market to the Asian region which made coal stocks in the

inter-"Permintaan impor batu bara oleh beberapa negara Eropa juga tercatat meng alami peningkatan," ujarnya.

Sementara itu Direktur Eksekutif Asosiasi Pertambangan Batu Bara Indonesia (APBI) Hendra Sinadia menerangkan pergerakan harga jelang musim dingin merupakan hal biasa. Namun dia menyebut harga t

kembali ke level US$80/

batu bara di pasar masih melimpah. "Harga memang rebound tapi stok masih ba

ujarnya.

Melemahnya harga batu bara terlihat sejak September 2018 kemarin. Kala itu harga batu bara berada di posisi US$104,81/ton. Kemudian terkoreksi di bulan berikutnya jadi US$100,89/ton dan berlanjut di November sebesar US$97,90/ton. Pada penutupan 2018 pun harga masih m mah di level US$92,51/

Sementara di awal 2019 tren penurunan harga masih terjadi lantaran HBA berada di posisi US$92,41/ton. Harga terus menurun hingga di level

US$60-rapa bulan terakhir.

Kebijakan Pemerintah Tiongkok menjadi faktor utama pergerakan harga batu bara. Di akhir 2017 hingga pertengahan 2018 harga melambung seiring dibukanya kran impor batu bara. Namun jelang akhir 2018, Tiongkok membatasi impor batu bara.

Alhasil harga tertekan sementara

berlimpah. Selain itu Rusia pun meng alihkan pasarnya ke kawasan Asia yang membuat stok batu bara di

nasional meningkat.♦

Page 12

"Permintaan impor batu bara oleh beberapa negara Eropa juga tercatat meng-alami peningkatan," ujarnya.

Sementara itu Direktur Eksekutif Asosiasi ara Indonesia (APBI) Hendra Sinadia menerangkan pergerakan harga jelang musim dingin merupakan hal biasa. Namun dia menyebut harga tak akan kembali ke level US$80/ton lantaran stok batu bara di pasar masih melimpah. "Harga memang rebound tapi stok masih banyak,"

Melemahnya harga batu bara terlihat sejak September 2018 kemarin. Kala itu harga batu bara berada di posisi US$104,81/ton. Kemudian terkoreksi di bulan berikutnya jadi US$100,89/ton dan berlanjut di November sebesar US$97,90/ton. Pada tupan 2018 pun harga masih mele-mah di level US$92,51/ton.

Sementara di awal 2019 tren penurunan harga masih terjadi lantaran HBA berada di posisi US$92,41/ton. Harga terus menurun -an/ton dalam

bebe-merintah Tiongkok menjadi faktor utama pergerakan harga batu bara. Di akhir 2017 hingga pertengahan 2018 harga melambung seiring dibukanya kran impor batu bara. Namun jelang akhir 2018, Tiongkok membatasi impor batu bara.

Alhasil harga tertekan sementara pasokan berlimpah. Selain itu Rusia pun meng-alihkan pasarnya ke kawasan Asia yang membuat stok batu bara di pasar