TABLE OF CONTENTS. No. Title Media Source Page

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Daily News Update Page 1

HE COAL production and sales volume of PT Bukit Asam Tbk (PTBA) is estimated to begin to improve in the second quarter of this year. It is hoped that the recovery will continue, so that the operational performance target will be achieved. As for the realization of the company's financial performance in the first quarter of 2021, it is still below expectations. This is influenced by unfavorable weather conditions for coal mining activities. Likewise, the average selling price shows a decline during that time.

BRI Danareksa Sekuritas analyst Stefanus Darmagiri revealed that the potential for recovery is supported by the company's ongoing efforts to build railroads with the aim of increasing carrying capacity. Among other things, an increase in the carrying capacity of the Tanjung Enim-Kertapati railway to 7 million tons this year compared to last year's 5 million tons. The Tanjung Enim-Tarahan route is targeted to reach 25 million tons.

"The development of the carrying capacity of the two rails is expected to be completed in the third quarter of 2021, so it is expected to have a positive impact on Bukit Asam's financial performance in the final quarter of this year," wrote Stefanus in his research.

Although production volume started to recover in the second quarter of this year, BRI Danareksa Sekuritas chose to revise the target price for PTBA's shares from Rp 3,600 to Rp 3,300 with a recommendation to keep buying.

Produksi dan Penjualan Batub

Bara Bukit Asam Mulai Membaik

Parluhutan Situmorang

V

OLUME produksi dan penjualan batu bara PT Bukit Asam Tbk (PTBA) diperkirakan mulai membaik pada kuartal II tahun ini. Pemulihan tersebut diharapkan berlanjut, sehingga target kinerja operasional bakal tercapai.

Adapun realisasi kinerja keuangan per-seroan pada kuartal I-2021 masih di bawah ekspektasi. Hal itu dipengaruhi oleh kondisi cuaca yang kurang baik untuk aktivitas penambangan batu bara.

Begitu juga dengan rata-rata harga jual yang menunjukkan penurunan dalam kurun waktu tersebut.

Analis BRI Danareksa Sekuritas Stefanus Darmagiri mengungkapkan, potensi pemu-lihan didukung oleh upaya berkelanjutan perseroan untuk pembangunan jalur rel kereta api dengan tujuan peningkatan kapasitas daya angkut. Di antaranya, peningkatan kapasitas daya angkut kereta api Tanjung Enim-Kertapati menjadi 7 juta ton tahun ini dibandingkan tahun lalu sebanyak 5 juta ton. Rute Tanjung Enim-Tarahan ditaargetkan mencapai 25 juta ton. “Pengembangan kapasitas daya angkut kedua rel tersebut diharapkan tuntas pada kuartal III-2021, sehingga diharapkan mulai berdampak positif terhadap kinerja keuangan Bukit Asam pada kuartal akhir tahun ini,” tulis Stefanus dalam risetnya. Meski volume produksi mulai pulih pada kuartal II tahun ini, BRI Danareksa Sekuritas memilih untuk merevisi turun target harga saham PTBA dari Rp 3.600 menjadi Rp 3.300 dengan rekomendasi dipertahankan beli.

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Daily News Update Page 4 The downward revision illustrates the low

realization of Bukit Asam's financial performance in the first quarter of 2021 and the projected decline in financial performance this year. Bukit Asam's target average coal selling price has been revised down from Rp 736,470 per tonne to Rp 692,370 per ton.

Meanwhile, the projected volume o f production and sales of coal is maintained at 29.5 million tons.

The revenue target for this year is set from Rp 22.01 trillion to Rp 20.71 trillion. Likewise, the projected net profit was revised down from Rp 3.72 trillion to Rp 3.09 trillion.

Regarding the realization of Bukit Asam's financial performance in the first quarter of 2021, Stefanus revealed that the decline occurred due to rainy weather which disrupted the coal production process. Like-wise, the average selling price has decreased and has an impact on decreased income. "The company's profit realization in the first quarter of 2021 was below our expectations. The acquisition only reflects 13% of the net profit target that we have set and only reflects 14% of the total net profit projected by analysts," he explained. Bukit Asam posted a 22 percent decline in sales from Rp 5.12 trillion to Rp 3.99 trillion. This achievement is also lower than the achievement in the fourth quarter of 2020 which reached Rp 4.47 trillion. Meanwhile, net profit decreased by 44.6 percent from Rp 903 billion to Rp 501 billion. In fact, it is lower than the achievement in the fourth quarter of 2020 of Rp. 659 billion.

The decline in sales was influenced by a decrease in sales volume from 6.8 million tons of coal to 5.9 million tons in the first quarter of 2021. Likewise,...

Revisi turun tersebut menggambarkan rendahnya realisasi kinerja keuangan Bukit Asam pada kuartal I-2021 dan proyeksi penurunan kinerja keuangan sepanjang tahun ini. Target rata-rata harga jual batu bara Bukit Asam direvisi turun dari Rp 736.470 per ton menjadi Rp 692.370 per ton.

Sedangkan proyeksi volume produksi dan penjualan batu bara dipertahankan sebanyak 29,5 juta ton.

Adapun target pendapatan tahun ini di-pangkas dari Rp 22,01 triliun menjadi Rp 20,71 triliun. Begitu juga dengan proyeksi laba bersih direvisi turun dari Rp 3,72 triliun menjadi Rp 3,09 triliun.

Mengenai realisasi kinerja keuangan Bukit Asam pada kuartal I-2021, Stefanus meng-ungkapkan bahwa penurunan terjadi akibat cuaca hujan yang mengganggu proses produksi batu bara. Begitu juga dengan rata-rata harga jual yang mengalami penu-runan dan berimbas terhadap penupenu-runan pendapatan.

“Realisasi laba perseroan pada kuartal I-2021 di bawah ekspektasi kami. Perolehan tersebut hanya merefleksikan 13% dari target laba bersih yang kami tetapkan dan hanya merefleksikan 14% dari total laba bersih yang diproyeksikan analis,” jelasnya. Bukit Asam membukukan penurunan penjualan sebesar 22% dari Rp 5,12 triliun menjadi Rp 3,99 triliun. Raihan tersebut juga lebih rendah dari pencapaian kuartal IV-2020 yang mencapai Rp 4,47 triliun. Sedangkan laba bersih turun hingga 44,6% dari Rp 903 miliar menjadi Rp 501 miliar. Bahkan, lebih rendah dari pencapaian kuartal IV-2020 sebanyak Rp 659 miliar. Penurunan penjualan tersebut dipengaruhi oleh penurunan volume penjualan dari 6,8 juta ton batu bara menjadi 5,9 juta ton pada kuartal I-2021. Begitu juga,...

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Daily News Update Page 5 Likewise, the average selling price fell from

Rp 741,800 per ton to Rp 669,900 per ton. The average price also fell from the fourth quarter of 2020, which was Rp 589,100 per ton.

Although the company's financial performance during the first quarter of 2021 is below expectations, the company's coal production and sales volume is expected to recover from the second quarter to the end of this year. This optimism is also indicated by the company's management with the expectation that the production and sales volume targets will be achieved according to the target.

Meanwhile, RHB Sekuritas Indonesia analyst Andrey Wijaya revealed, PTBA shares are still worth buying with a target price of Rp 3,000, even though Bukit Asam's operational and financial perfor-mance in the first quarter of 2021 shows a decline.

"Bukit Asam shows an opportunity for an increase in production volume and a decrease in mining costs amid better weather conditions for mining," wrote Andrey in his research.

Begitu juga dengan rata-rata harga jual turun dari Rp 741.800 per ton menjadiRp 669.900 per ton. Rata-rata harga tersebut juga turun dari pencapaian kuartal IV-2020 sebesar Rp 589.100 per ton.

Meski kinerja keuangan sepanjang kuartal I-2021 di bawah ekspektasi, volume produksi dan penjualan batu bara per-seroan diperkirakan pulih mulai kuartal II hingga akhir tahun ini. Optimisme tersebut juga diindikasikan oleh manajemen perseroan dengan harapan target volume produksi dan penjualan tercapai sesuai target.

Sementara itu, analis RHB Sekuritas Indonesia Andrey Wijaya mengungkapkan, saham PTBA tetap layak direkomen-dasikan beli dengan target harga Rp 3.000, meskipun realisasi kinerja operasional dan keuangan Bukit Asam pada kuartal I-2021 menunjuk kan penurunan.

“Bukit Asam menunjukkan peluang peningkatan volume produksi dan penurunan biaya penambangan di tengah kondisi cuaca yang lebih baik untuk penambangan,” tulis Andrey dalam riset-nya.

Summary of Bukit Asam's Financial Performance

(in billion Rp)

Revenue Nett profit

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Daily News Update Page 6 Apart from these factors, according to him,

Bukit Asam is a coal issuer with a strong net cash position with a net gearing of 0.24 times. This strengthens the company's ability to continue business diversification and avoids the company from the risk of business uncertainty.

The company is also negotiating with coal mining contractors to reduce production costs. As is known, mining costs contribute up to 20% of total production costs. The company is also negotiating with coal carriers to reduce shipping costs.

Meanwhile, the company's financial performance is projected to grow this year with an estimated revenue increase from Rp 17.32 trillion to Rp 20.85 trillion. The estimated net profit is also expected to increase from Rp 2.38 trillion to Rp 3.4 trillion. Editor: Gora Kunjana

Selain faktor tersebut, menurut dia, Bukit Asam merupakan emiten batu bara dengan posisi kas bersih yang kuat dengan net gearing mencapai 0,24 kali. Hal ini memper-kuat kemampuan perseroan untuk melanjut-kan diversifikasi bisnis dan menghindari perseroan dari risiko ketidakpastian bisnis. Perseroan juga tengah bernegosiasi dengan kontraktor penambangan batu bara untuk menekan biaya produksi. Sebagaimana di-ketahui, biaya penambangan berkontribusi hingga 20% terhadap total biaya produksi. Perseroan juga tengah bernegosiasi dengan operator kereta api pengangkut batu bara untuk menekan biaya pengiriman.

Sementara itu, kinerja keuangan perseroan tahun ini diproyeksikan bertumbuh dengan perkiraan pendapatan meningkat dari Rp 17,32 triliun menjadi Rp 20,85 triliun. Perkiraan laba bersih juga diharapkan me-ningkat dari Rp 2,38 triliun menjadi Rp 3,4 triliun. Editor : Gora Kunjana

Vale Indonesia (INCO) is ready

to fulfill the supply chain for the

electric car battery industry

Reporter: Vina Elvira | Editor: Khomarul

Hidayat

A

NUMBER of technology companies have begun to be interested in penetrating the automotive industry by designing electric cars as vehicles of the future.

Based on Kontan.co.id's records, Xiaomi plans to produce an electric car and an autonomous car in the future. The technology giant is reportedly going to build an electric car that will later compete with Apple Car and Tesla.

Vale Indonesia (INCO) siap

penuhi rantai pasok untuk

industri baterai mobil listrik

Reporter: Vina Elvira | Editor: Khomarul

Hidayat

S

EJUMLAH perusahaan teknologi mulai tertarik merambah ke industri otomotif dengan merancang mobil listrik sebagai kendaraan masa depan.

Berdasarkan catatan Kontan.co.id, Xiaomi berencana memproduksi sebuah mobil listrik dan mobil otonom di masa depan. Raksasa teknologi tersebut kabarnya bakal membangun mobil listrik yang nantinya akan bersaing dengan Apple Car dan Tesla.

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Daily News Update Page 7 Following Xiaomi, OPPO is also reportedly

designing a future electric and autonomous car. This Chinese cellphone maker is exploring various ideas for the auto industry. Because, they want to build their own car like any other technology company.

In addition, Huawei Technology to Baidu has poured nearly US$ 19 billion into the electric car business as a vehicle of the future.

Launching Kontan.co.id news earlier (15/4), Indonesian Chamber of Commerce and Industry said that Indonesia could become the largest producer of lithium batteries and electric cars in the world. This is due to the large supply of nickel in the country for the manufacture of lithium batteries, which are the main ingredient in the development of electric cars.

One of the nickel mining and processing companies in Indonesia, PT Vale Indonesia Tbk (INCO), responded to the news regarding the development of the electric car.

Finance Director of Vale Indonesia, Bernardus Irmanto, said that his company will continue to focus on the realization of the company's strategic plan that has been set for the next 5 years. Some of the plans relate to the electric car lithium battery industry.

"For example, the high pressure acid leach (HPAL) project which is planned to be built in Pomalaa, Southeast Sulawesi," said Bernardus when contacted by Kontan.co.id, Monday (10/5).

This nickel project is said to be one of the efforts to fulfill the domestic electric vehicle battery industry chain.

Apart from that, Berdarnus said, INCO also has quite large reserves of limonite nickel ore. Where,...

Menyusul Xiaomi, OPPO juga dikabarkan tengah merancang mobil listrik dan otonom masa depan. Pembuat ponsel China satu ini tengah menjajaki berbagai ide untuk industri otomotif. Sebab, mereka ingin membangun mobilnya sendiri seperti perusahaan teknologi lainnya.

Selain itu, Huawei Technologi hingga Baidu menggelontorkan dana hampir US$ 19 miliar untuk masuk ke bisnis mobil listrik secara luas sebagai kendaraan masa depan. Melansir pemberitaan Kontan.co.id sebelumnya (15/4), Kadin Indonesia menyebut Indonesia bisa menjadi produsen baterai lithium dan mobil listrik terbesar di dunia. Hal itu lantaran besarnya pasokan nikel di tanah air untuk pembuatan baterai lithium yang menjadi bahan utama pengembangan mobil listrik. Salah satu perusahaan tambang dan pengolahan nikel di Indonesia, PT Vale Indonesia Tbk (INCO) menanggapi kabar terkait pengembangan mobil listrik tersebut.

Direktur Keuangan Vale Indonesia Bernardus Irmanto mengatakan, pihaknya akan tetap fokus pada realiasi rencana strategis perseroan yang telah ditetapkan untuk jangka waktu 5 tahun ke depan. Beberapa dari rencana tersebut berkaitan dengan industri baterai lithium mobil listrik.

"Contohnya proyek high pressure acid leach (HPAL) yang direncanakan akan dibangun di Pomalaa, Sulawesi Tenggara," ungkap Bernardus saat dihubungi Kontan.co.id, Senin (10/5).

Proyek nikel ini disebut sebagai salah satu upaya pemenuhan rantai industri baterai kendaraan listrik dalam negeri.

Selain itu, Berdarnus bilang, INCO juga memiliki cadangan bijih nikel limonite yang jumlahnya cukup besar. Di mana,...

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Daily News Update Page 8 Where, the limonite nickel ore can be

processed into precusrsor material for electric car batteries.

"Vale Indonesia has reserves of nickel ore that can be utilized. To take advantage of this, there needs to be a project. For the next 5 years, Vale Indonesia will focus on development projects that have been submitted to the market," he explained.

Di mana, bijih nikel limonite tersebut bisa diolah menjadi bahan precusrsor baterai mobil listrik.

"Vale Indonesia punya cadangan bijih nikel yang bisa dimanfaatkan. Untuk meman-faatkan perlu ada proyek. Untuk 5 tahun ke depan Vale Indonesia akan fokus ke proyek pengembangan yang sudah pernah di-sampaikan ke market," terangnya.

PT Timah's Revenue Corrected

Sharp 45%

By: Ahmad Nabhani

T

HE FINANCIAL performance of PT Timah (Persero) Tbk (TINS) in the first quarter of 2021 has not been free from pressure, resulting in corrected revenue. In the financial report, the company posted a decrease in revenue of about 45 percent to Rp 2.44 trillion compared to the same period last year of Rp 4.42 trillion.

Then thanks to the effectiveness of cost management, TINS managed to book an operating profit of Rp131 billion, a significant increase compared to the minus quarter I/2020 of Rp434 billion.

Timah's Corporate Secretary, Abdullah Umar said, after being hit by such a massive pandemic storm, TINS began to gradually add to its offshore mining fleet. Tin ore production in the first quarter of 2021 was recorded at 5.025 tonnes, of which 61% came from offshore.

It is stated that the figure for tin metal production in the first quarter of 2021 was corrected by 63% to 5,220 tonnes and tin sales was corrected 66% to 5,912 tonnes.

Pendapatan PT Timah

Terkoreksi Tajam 45%

Oleh: Ahmad Nabhani

K

INERJA keuangan PT Timah (Persero) Tbk (TINS) di kuartal pertama 2021 belum lepas dari tekanan sehingga membuat pendapatan terkoreksi. Dalam laporan keuangan, perseroan membukukan penu-runan pendapatan sekitar 45% menjadi Rp 2,44 triliun dibandingkan priode yang sama tahun lalu Rp 4,42 triliun.

Kemudian berkat efektivitas manajemen biaya, TINS berhasil membukukan laba operasi sebesar Rp131 miliar atau naik signifikan dibandingkan kuartal I/2020 yang minus sebesar Rp434 miliar.

Sekretaris Perusahaan Timah, Abdullah Umar mengungkapkan, setelah dipukul badai pandemi yang demikian masif, TINS mulai menambah armada penambangan offshore secara bertahap. Produksi bijih timah pada kuartal I/2021 tercatat sebesar 5.025 ton yang mana sebesar 61% berasal dari offshore.

Disebutkan, angka produksi logam timah pada kuartal I/2021 terkoreksi 63% menjadi 5.220 ton dan penjualan logam timah terkoreksi 66% menjadi 5.912 ton.

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Daily News Update Page 9 "Refined tin prices at LME move within a

limited price range, and are predicted to continue to shine until the end of the year," he explained.

He said, as the second largest tin producer in the world, TINS has a decisive bargaining position in the world tin market. Meanwhile, the profit for the year in the first quarter of 2021 was Rp 10 billion, a significant increase compared to the first quarter of 2020 minus Rp 413 billion. TINS' profitability continued to improve, as evident from the gross profit margin (GPM) of 13.21% and net profit margin (NPM) of 0.42%.

Meanwhile, TINS liquidity is still healthy with a current ratio of 128.57%. TINS 'solvency also showed improvement where the debt to equity ratio (DER) was 123.19%. Offshore tin resources and reserves are strategic assets to maintain the continuity of the tin business that TINS is doing. Tin reserves at the end of 2020 were recorded at 282,312 tonnes, 94% of which are located offshore, while tin resources were recorded at 823,420 tonnes with an offshore composition of 51%.

In addition to tin as its main business, TINS has begun to polish the performance of the coal mining business operating in South Kalimantan with an IUP area of 9,721 hectares and a Gross Air Received (GAR) content of 6,200 Kcal/Kg. Furthermore, the increasing reputation of nickel has made TINS more intensively work on its nickel mining which is located in Southeast Sulawesi with an IUP area of 300 hectares. The performance of the TINS subsidiaries began to grow according to expectations, including coal and nickel. It is hoped that the revenue contribution outside the tin business will continue to grow and be able to sustain the Company's future sustainability.

"Fluktuasi harga logam timah di LME bergerak di rentang harga yang terbatas, dan diramalkan masih akan terus kinclong sampai dengan akhir tahun," urainya.

Dia menuturkan, sebagai produsen terbesar timah kedua di dunia, TINS memiliki posisi tawar yang menentukan di pasar timah dunia. Sementara itu, laba tahun berjalan kuartal I/2021 sebesar Rp10 miliar, naik signifikan dibandingkan kuartal I/2020 minus sebesar Rp413 miliar. Profitabilitas TINS terus membaik yang nampak dari gross profit margin (GPM) sebesar 13,21% dan net profit margin (NPM) sebesar 0,42%. Adapun, likuiditas TINS masih sehat dengan current ratio sebesar 128,57%. Solvabilitas TINS juga menunjukkan perbaikan di mana debt to equity ratio (DER) sebesar 123,19%. Sumber daya dan cadangan timah offshore merupakan aset strategis untuk menjaga keberlangsungan bisnis pertimahan yang dilakoni TINS. Cadangan timah per akhir tahun 2020 tercatat sebesar 282.312 ton yang 94% di antaranya berlokasi di offshore, sedangkan sumber daya timah tercatat sebesar 823.420 ton dengan komposisi offshore sebesar 51%.

Di samping pertimahan sebagai bisnis utamanya, TINS mulai memoles performa bisnis penambangan batu bara yang beroperasi di Kalimantan Selatan dengan lahan IUP seluas 9.721 Ha dan berkadar Gross Air Received (GAR) 6.200 Kcal/Kg. Lebih lanjut, pamor nikel yang makin membaik membuat TINS lebih intensif menggarap penambangan nikelnya yang berlokasi di Sulawesi Tenggara dengan luas IUP sebesar 300 Ha.

Kinerja anak perusahaan TINS mulai tumbuh sesuai ekspektasi, di antaranya batubara dan nikel. Kontribusi pendapatan di luar bisnis timah diharapkan terus tumbuh dan mampu menopang keber-lanjutan Perseroan ke depannya.

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Daily News Update Page 10 "TINS has high calorie coal and is in

demand by the market. With relatively stable coal prices, it is expected that production levels at the level of 500,000 tonnes-750,000 tonnes in 2021 will have a positive impact on the Company's financial performance," he said.

“TINS memiliki batubara yang berkalori tinggi dan diminati pasar. Dengan harga batubara yang relatif stabil, dan di-harapkan tingkat produksi di level 500.000 ton-750.000 ton pada tahun 2021 akan berdampak positif terhadap kinerja finansial Perseroan," ujarnya.

Approaching the Agreement,

PTBA Will Immediately Work on

the Gasification Project

Rahajeng KH, CNBC Indonesia

P

T BUKIT Asam Tbk (PTBA) is preparing all the requirements to start working on a coal gasification project, namely converting coal into Dimethyl Ether (DME) which is included in one of the National Strategic Projects (PSN).

PTBA President Director Suryo Eko Hadianto revealed that currently the feasibility study process for this project has been completed and is in the middle of negotiating the costs of the process. According to him, currently negotiations are approaching an agreement with a cooperation partner, so that the project can start immediately.

"It looks like we want a deal, hopefully in the second quarter of 2021 everything can be dealt with. What is even more exciting is the 100% support from the government, so that we as management can enter the business safely," said Suryo in 'Cuap Cuap Cuan CNBC Indonesia' recently.

This project will also increase the company's revenue from an increase in coal absorption by 6 million tons per year. The gasification project is estimated...

Dekati Kesepakatan, PTBA

Segera Garap Proyek Gasifikasi

Rahajeng KH, CNBC Indonesia

P

T BUKIT Asam Tbk (PTBA) sedang mem-persiapkan segala persyaratan untuk memulai pengerjaan proyek gasifikasi batu bara yakni mengubah batu bara menjadi

Dimethyl Ether (DME) yang masuk ke dalam

salah satu Proyek Strategis Nasional (PSN). Direktur Utama PTBA Suryo Eko Hadianto mengungkapkan saat ini proses studi kelayakan untuk proyek ini sudah rampung dan tengah dilakukan negosiasi mengenai biaya-biaya prosesnya. Menurutnya saat ini negosiasi sudah mendekati kesepakatan dengan partner kerjasama, sehingga proyek bisa segera dimulai.

"Sepertinya sudah mau deal, mudah-mudahan di kuartal II-2021 bisa deal semuanya. Yang lebih menggembirakan lagi adalah dukungan dari pemerintah 100%, sehingga kami sebagai manajemen bisa masuk ke bisnis tersebut dengan aman," kata Suryo dalam 'Cuap Cuap Cuan CNBC Indonesia' belum lama ini.

Proyek ini pun nantinya akan meningkatkan pendapatan perusahaan dari peningkatan penyerapan batu bara 6 juta ton per tahun. Adapun proyek gasifikasi tersebut di-perkirakan...

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Daily News Update Page 11 The gasification project is estimated to be

operational in the next four years. He estimates that as much as 6 million tons of coal per year are needed to produce 1.8 million tons of DME per year and can replace LPG around 1 million tons per year. "DME creates a captive coal market, so PTBA's coal production of 6 million tonnes per year can only be used to support DME. Not to mention the benefits obtained from selling DME," he added.

Suryo emphasized that for this down-stream project to become a DME, PTBA already has experienced partners. He revealed that in this downstreaming, partners who master gasification techno-logy must really be selected.

"We already have partners who have experience, make no mistake partnering. We also have to find good partners who really master DME technology, and this will become Bukit Asam's portfolio. Not only selling coal but starting to sell derivative products, that's the down-streaming," he said.

Responding to the opinion that gasification technology is expensive, according to him, this is part of business transformation. It takes time to be accepted by society, and it takes technology costs when it is first implemented.

"But this will be our own, sold and used in Indonesia, so there is no cost. But it is better to spend money for domestic interests, rather than outside because they have to buy imports. So philosophically the money is circulating inside, so only costs in the country. Indonesia," said Suryo.

So far, the problem of coal companies is usually the fluctuation of coal prices, which has an immediate impact on decreasing revenues and profits. If PTBA does downstream with gasification,...

Adapun proyek gasifikasi tersebut diper-kirakan baru bisa beroperasi pada empat tahun mendatang. Dia memperkirakan sebanyak 6 juta ton batu bara per tahun dibutuhkan untuk menghasilkan 1,8 juta ton DME per tahun dan bisa menggantikan LPG sekitar 1 juta ton per tahun.

"DME menciptakan captive market batu bara, jadi produksi batu bara PTBA 6 juta ton per tahun hanya bisa untuk support DME. Belum lagi keuntungan yang didapatkan dari jualan DME," tambahnya.

Suryo menegaskan untuk proyek hilirisasi menjadi DME ini, PTBA telah memiliki mitra yang sudah berpengalaman. Dia meng-ungkapkan dalam hilirisasi ini harus benar-benar memilih mitra yang menguasai tekno-logi gasifikasi.

"Kami sudah memiliki mitra yang sudah pengalaman, jangan salah bermitra. Kami juga harus cari mitra yang bagus dan benar-benar menguasai teknologi DME, dan ini akan menjadi portofolio Bukit Asam. Tidak hanya menjual batu bara tapi mulai masuk jualan produk turunannya, itulah hilirisasi-nya," katanya.

Menanggapi pendapat bahwa teknologi gasifikasi mahal, menurutnya hal tersebut menjadi bagian dari transformasi bisnis. Dibutuhkan waktu untuk diterima oleh masyarakat, dan butuh biaya teknologi ketika di awal penerapannya.

"Tapi ini akan menjadi milik kita sendiri, dijual dan digunakan di Indonesia jadi tidak ada biaya yang keluar. Tetapi lebih baik keluar uang untuk kepentingan dalam negeri, daripada ke luar karena harus beli impor. Jadi secara filosofi uangnya beputar di dalam jadi hanya biaya di Indonesia," kata Suryo. Selama ini permasalahan perusahaan batu bara biasanya pada fluktuasi harga batu bara, yang langsung berdampak pada penurunan pendapatan dan laba. Jika PTBA melakukan hilirisasi dengan gasifikasi,...

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Daily News Update Page 12 If PTBA does downstream with

gasification, the derivative product, namely dimethyl ether (DME), will be more stable because it will be regulated.

"The price is relatively stable if there is a fluctuation in the price of coal that is affected, the selling of the DME is not affected. This makes the business more stable and safer going forward," he said. Previously, in an agreement made on December 10, 2020 between the company and PT Pertamina (Persero) and Air Products to commit to developing this DME project. Each company has a role, including PTBA for the provision of infrastructure and land, as well as the supply of coal, then Air Products will invest in the construction of this project. Pertamina will buy the resulting products, to substitute LPG imports. (rah/rah)

Jika PTBA melakukan hilirisasi dengan gasifikasi, maka produk turunan yakni

dimethyl ether (DME) akan lebih stabil

karena akan diatur.

"Harganya relatif stabil kalau ada fluktuasi harga batu bara yang terpengaruh, jualan DME-nya tidak terpengaruh ini membuat bisnis lebih stabil dan aman ke depannya," ujar dia.

Sebelumnya, pada kesepakatan yang di-lakukan pada 10 Desember 2020 antara perusahaan dengan PT Pertamina (Persero) dan Air Products untuk berkomitmen mengembangkan proyek DME ini. Masing-masing perusahaan memiliki peran, antara lain PTBA untuk penyediaan infrastruktur dan lahan, serta pasokan batu bara, kemudian Air Products akan berinvestasi untuk pembangunan proyek ini. Pertamina akan membeli produk yang dihasilkan, untuk substitusi impor LPG. (rah/rah)

ANTM Signed an Agreement

with a Singapore Company

Listyorini

P

T ANEKA Tambang Tbk (ANTM) signed a Heads of Agreement (HoA) for the develop-ment of the nickel refining business with Alchemist Metal Industry Pte, Ltd. from Singapore and PT Gunbuster Nickel Industry on May 6, 2021.

Based on the company's official statement, this HoA marks the initiation of a new nickel refining business ecosystem for ANTM in North Konawe and North Morowali, Southeast Sulawesi. This is also a new milestone for the MIND ID Group in maximizing the added value of nickel resources owned by Indonesia. This agreement is...

ANTM Teken Perjanjian dengan

Perusahaan Singapura

Listyorini

P

T ANEKA Tambang Tbk (ANTM) me-nandatangani Perjanjian Pendahuluan atau Heads of Agreement (HoA) pengembangan bisnis pemurnian nikel bersama Alchemist Metal Industry Pte, Ltd. asal Singapura dan PT Gunbuster Nickel Industry pada 6 Mei 2021.

Berdasarkan keterangan resmi perseroan, HoA ini menandai inisiasi ekosistem bisnis pemurnian nikel baru bagi ANTM di Konawe Utara dan Morowali Utara, Sulawesi Tenggara. Hal ini juga sekaligus menjadi tonggak sejarah baru Grup MIND ID dalam memaksimalkan nilai tambah sumber daya nikel yang dimiliki Indonesia. Kesepakatan ini...

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Daily News Update Page 13 This agreement is an implementation of

one of MIND ID's mandates, namely down-streaming.

In addition, this collaboration is also believed to be able to increase the added value of mineral commodities, thereby optimizing the Company's contribution to the State. ANTM has a solid nickel portfolio and more than five decades of experience in managing nickel minerals from upstream to downstream.

Meanwhile, the partners who cooperate in this agreement have the necessary processing and refining technology while absorbing the nickel processed products produced.

In this cooperation, it is planned that the parties will play a role in accordance with the portion of share ownership both in the upstream (mining) business and in the downstream (smelter) business. Upstream, ANTM will work with partners to carry out mining operations. Editor: Listyorini

Kesepakatan ini merupakan implementasi salah satu mandat MIND ID yaitu hilirisasi. Selain itu, kerja sama ini juga dipercaya mampu meningkatkan nilai tambah komo-ditas mineral sehingga mengoptimalkan kontribusi Perusahaan bagi Negara ANTM memiliki portofolio nikel yang solid dan berpengalaman lebih dari lima dekade dalam mengelola mineral nikel dari hulu ke hilir.

Sementara itu, mitra yang bekerjasama dalam perjanjian ini memiliki teknologi pemrosesan dan pemurnian yang diperlu-kan sekaligus menyerap produk olahan nikel yang dihasilkan.

Dalam kerja sama ini, rencananya para pihak akan berperan sesuai porsi kepemilikan saham baik di bisnis hulu (penambangan) dan di bisnis hilir (smelter). Di hulu, ANTM akan bekerja-sama dengan mitra untuk melakukan operasi penambangan. Editor : Listyorini

Considering MIND ID IPO

opportunities

Reporter: Azis Husaini, Filemon Agung | Editor: Khomarul Hidayat

T

HE GOVERNMENT through the Ministry of State-Owned Enterprises (BUMN) is currently reviewing the initial public offering (IPO) plan for Inalum Operating and MIND ID.

BUMN observer from the University of Indonesia, Toto Pranoto, said that the IPO plan for MIND ID could be an alternative funding if the need for capex grew as the downstream plan was being pushed.

Menimbang peluang IPO MIND

ID

Reporter: Azis Husaini, Filemon Agung | Editor: Khomarul Hidayat

P

EMERINTAH melalui Kementerian Badan Usaha Milik Negara (BUMN) kini tengah mengkaji rencana initial public

offering (IPO) untuk Inalum Operating dan

MIND ID.

Pengamat BUMN dari Universitas Indonesia Toto Pranoto mengatakan, rencana IPO untuk MIND ID dapat menjadi alternatif pendanaan jika kebutuhan capex semakin besar seiring rencana hilirisasi yang tengah didorong.

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Daily News Update Page 14 "By becoming a public company, the

elements of good corporate governance can be maintained and credibility is better. This can be an attraction for investors," explained Toto to Kontan.co.id, Monday (10/5).

Toto added, with the implementation of the IPO, there are a number of things that should be considered, including the regulation of the Special Mining Business Permit (IUPK) that exists in the subsidiary and whether it can be continued or not. In addition, MIND ID, which controls national mining assets, needs to maintain its value or increase. "Do not let the impression that later going public is like just selling the mining assets," said Toto. Toto continued, if indeed the MIND ID in the IPO is in accordance with existing asset ownership, for PT Freeport Indonesia this can be a kind of backdoor listing.

For this reason, Toto suggested that value creation can be maintained, namely by encouraging exploration activities so as to provide added value to the national.

Meanwhile, Deputy Chairman of Commission VII Eddy Soeparno said there needs to be an in-depth study for the implementation of the IPO. "IPO is not a bad thing, but when it comes to vital state assets, the study must be in-depth," said Eddy.

Eddy continued, IPO in a holding company, when compared to an operating company, is more interested in the operating company. This is because holding companies generally do not own assets but only own shares in subsidiaries.

Eddy continued, in addition to these considerations, the implementation of the IPO also needs to pay close attention to the use of the funds that will be obtained from the IPO.

"Dengan menjadi perusahaan terbuka maka unsur good corporate governance bisa dijaga dan kredibilitas lebih baik. Ini bisa jadi daya tarik bagi investor," terang Toto kepada Kontan.co.id, Senin (10/5). Toto menambahkan, dengan pelaksanaan IPO maka ada sejumlah hal yang patut dipertimbangkan antara lain regulasi Izin Usaha Pertambangan Khusus (IUPK) yang ada pada anak usaha maupun aset apakah bisa diteruskan atau tidak.

Selain itu, MIND ID yang menguasai aset tambang nasional perlu dijaga nilainya atau ditingkatkan. "Jangan sampai timbul kesan nanti dengan go public seperti hanya sekedar menjual aset tambangnya saja," kata Toto.

Toto melanjutkan jika memang yang di IPO kan adalah MIND ID sesuai dengan kepemilikan aset yang ada maka bagi PT Freeport Indonesia hal ini dapat menjadi semacam backdoor listing.

Untuk itu, Toto menyarankan agar value

creation dapat tetap dijaga yakni dengan

mendorong kegiatan eksplorasi sehingga memberi nilai tambah bagi nasional. Sementara itu, Wakil Ketua Komisi VII Eddy Soeparno mengatakan, perlu ada kajian mendalam untuk pelaksanaan IPO. "IPO bukan hal yang buruk tapi jika menyangkut aset vital negara kajian harus mendalam," ujar Eddy.

Eddy melanjutkan, IPO pada holding company kalau dibandingkan dengan operating company maka peminat operating company lebih besar. Pasalnya, holding company umumnya tak memiliki aset melainkan hanya memiliki saham pada anak perusahaan.

Eddy melanjutkan, selain pertimbangan tersebut pelaksanaan IPO juga perlu mencermati penggunaan dana yang akan diperoleh dari IPO.

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Daily News Update Page 15 "Whether it is for increasing productivity,

increasing production capacity, efficiency in buying a new machine or for paying off debts, there are several things that need to be used as a study for the utilization of IPO proceeds," said Eddy.

"Apa untuk peningkatan produktivitas, meningkatkan kapasitas produksi, efisiensi membeli mesin baru atau untuk lunasi hutang, ada beberapa hal yang perlu dijadikan kajian untuk pemanfaatan dana hasil IPO," kata Eddy.

Crowd of Stopping Coal Credit,

CIMB-Maybank to ADB!

Ferry Sandria, CNBC Indonesia

T

HE ASIAN Development Bank (ADB) or the Asian Development Bank announced that they would no longer finance projects related to the exploration or production of coal, oil and natural gas mines in the world. This new policy was announced in a draft policy statement released last Friday (7/5/2021). This announcement was welcomed by the environmental activist group, which said the ADB should have taken this step since a decade ago.

Quoted from Reuters, which launched The Strait Times, two environmental organiza-tions reported that on the first day of the ADB annual meeting which was held on May 3-5 in Manila, ADB had disbursed US$ 4.7 billion or the equivalent of Rp.68.15 trillion (exchange rate an average of 14,500) for gas projects since the imple-mentation of the Paris Climate Agreement in late 2015.

The environmental organization group also said that nearly two-thirds of ADB financing goes to electricity generation and exploration and extraction of natural resources.

Ramai-ramai Setop Kredit Batu

Bara, CIMB-Maybank hingga

ADB!

Ferry Sandria, CNBC Indonesia

A

SIAN Development Bank (ADB) atau Bank Pembangunan Asia mengumumkan bahwa mereka tidak akan lagi mendanai proyek yang berkaitan dengan eksplorasi atau produksi tambang batu bara, minyak bumi dan gas alam di dunia.

Kebijakan baru ini diumumkan dalam draf pernyataan kebijakan yang dirilis pada Jumat pekan lalu (7/5/2021). Pengumuman ini disambut baik oleh kelompok penggiat lingkungan, yang mengatakan seharusnya ADB sudah mengambil langkah ini sejak satu dekade lalu.

Dikutip dari Reuters yang melansir The Strait Times, dua organisasi lingkungan melapor-kan bahwa pada hari pertama pertemuan tahunan ADB yang digelar pada 3-5 Mei lalu di Manila, ADB telah mengucurkan US$ 4,7 miliar atau setara dengan Rp 68,15 triliun (kurs rata-rata 14.500) untuk proyek-proyek gas sejak diterapkannya Perjanjian Iklim di Paris pada akhir 2015.

Kelompok organisasi lingkungan ini juga menyebutkan hampir dua pertiga dari pem-biayaan ADB disalurkan ke untuk pembangkit listrik dan eksplorasi dan ekstraksi sumber daya alam.

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Daily News Update Page 16 This bank, founded in 1966, did confirm

this figure of US$ 4.7 billion in credit disbursement, but emphasized that most of the energy financing during 2015-2020 was allocated for renewable energy sources and development of infrastructure networks.

The aim of implementing the program is to end the use of fossil fuels in Asia, in particular to encourage a shift away from environmentally unfriendly coal-fired power plants.

Zhai Yongping, Head of the ABD Energy Sector Group said that they previously supported natural gas projects to provide more efficient and lower emission energy access than energy generated from coal. He added that 60% of total electricity generation in Asia comes from burning coal, so it is important to redu ce dependence on coal and replace it with clean renewable energy, in some limited cases replaced by natural gas which has higher efficiency with lower emissions. He also said that from 2009-2019, ADB's clean energy financing reached US$ 23 billion (Rp 333 trillion), and the target was US$ 80 billion (Rp 1,160 trillion) for cumulative climate finance from 2019 to 2030.

Based on the official website of the 63-member institution, ADB is known to have financed several major gas projects in Asia, one of which is located in Indonesia.

The project is the Tangguh LNG project in Bintuni Bay, West Papua. At that time, ADB provided a loan of US$ 350 million or the equivalent of Rp. 5.08 trillion which was approved in 2005.

Furthermore, the LNG project development also obtained a loan of US$ 400 million or equivalent to Rp 5.80 trillion, with HSBC acting as the capital borrower.

Bank ini didirikan pada 1966 ini memang mengkonfirmasi angka penyaluran kredit US$ 4,7 miliar tersebut, tetapi menegaskan bahwa sebagian besar pembiayaan energi selama 2015-2020 dialokasikan untuk sumber energi terbarukan dan pengembangan jaringan infrastruktur.

Tujuan pelaksanaan program adalah untuk menghentikan penggunaan bahan bakar fosil di Asia, khususnya untuk mendorong per-alihan dari pembangkit listrik tidak ramah lingkungan berbahan bakar batu bara.

Zhai Yongping, Kepala Grup Sektor Energi ABD mengatakan bahwa mereka sebelumnya men-dukung proyek gas alam untuk menyediakan akses energi yang lebih efisien dan rendah emisi dibanding energi yang dihasilkan dari batu bara.

Dia menambahkan bahwa 60% dari total pem-bangkit listrik di Asia berasal dari pembakaran batu bara, sehingga penting untuk mengurangi ketergantungan terhadap batu bara dan meng-gantinya dengan energi bersih yang terbarukan, dalam beberapa kasus terbatas digantikan oleh gas alam yang memiliki efisiensi lebih tinggi dengan emisi lebih rendah.

Ia juga mengatakan, dari 2009-2019, pembiaya-an energi bersih ADB mencapai US$ 23 miliar (Rp 333 triliun), dan targetnya capai US$ 80 miliar (Rp1.160 triliun) utk pembiayaan iklim secara kumulatif dari tahun 2019 hingga 2030. Berdasarkan situs resmi lembaga beranggota-kan 63 negara ini, ADB diketahui sempat membiayai beberapa proyek gas besar di Asia, salah satu dari proyek tersebut berlokasi di Ind-onesia.

Proyek tersebut adalah proyek LNG Tangguh di Teluk Bintuni, Papua Barat. Saat itu ADB memberikan pinjaman sebesar US$ 350 juta atau setara Rp 5,08 triliun yang disetujui pada 2005 lalu.

Selanjutnya pengembangan proyek LNG ini juga memperoleh pinjaman sebesar US$ 400 juta atau setara Rp 5,80 triliun, dengan HSBC yang bertindak sebagai peminjam modal.

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Daily News Update Page 17 Tangguh LNG is managed by BP through its

subsidiary BP Berau Ltd.

Despite announcing their stance, this multilateral development bank that focuses on reducing poverty in Asia does not provide a time frame for a commitment to stop funding this fossil energy project. The draft also states that there are several conditions for fossil energy that can still be funded, such as the unavailability of other cost-effective technologies that are more environmentally friendly.

Zhai Yongping also said that the draft will be discussed further by the board of directors in October.

ADB is a Development bank that was founded in 1966 with 31 member countries and has now grown to 63 countries.

Headquartered in Manila, ADB has disbursed US$ 42.5 billion for the energy sector in the Asian region during 2009-2019, according to information on its official website.

Apart from ADB, recently Malayan Banking Berhad or Maybank also decided to stop financing for coal mining activities. By 2025, Maybank plans to allocate RM 50 billion in an effort to encourage sustainable financing.

These funds are used to improve the lives of one million households across ASEAN, reach one million hours per year for sustainability activities and provide a thousand significant results related to the United Nations Sustainable Development Goals (UN SDG) or the United Nations Sustainable Development Goals.

Last year, Maybank's competitor, CIMB Group Holdings Bhd, also committed to removing coal from its portfolio by 2040. CIMB claims to be the first banking group in Malaysia and Southeast Asia to stop coal financing. (tas/tas)

LNG Tangguh dikelola oleh BP melalui anak perusahaannya BP Berau Ltd.

Dilansir dari Reuters, meskipun telah meng-umumkan sikap mereka, bank pembangunan multilateral yang fokus pada pengentasan kemiskinan di Asia ini tidak menyediakan kerangka waktu untuk komitmen pember-hentian pendanaan proyek energi fosil ini. Dalam draf tersebut juga dikatakan bahwa terdapat beberapa kondisi energi fosil masih bisa memperoleh pendanaan, seperti tidak tersedianya teknologi hemat biaya lain yang lebih ramah lingkungan.

Zhai Yongping juga mengatakan bahwa draf tersebut akan dibahas lebih lanjut oleh dewan direksi di Oktober mendatang.

ADB merupakan bank Pembangunan yang di-dirikan pada 1966 dengan 31 negara anggota dan kini telah berkembang menjadi 63 negara. Berkantor pusat di Manila, ADB sudah menyalurkan US$ 42,5 miliar untuk sektor energi di kawasan Asia selama 2009-2019, menurut informasi dalam situs resminya. Selain ADB, baru-baru ini juga Malayan Banking Berhad atau Maybank memutuskan akan meng-hentikan pembiayaan untuk aktivitas pertam-bangan batu bara. Pada 2025, Maybank beren-cana mengalokasikan RM 50 miliar dalam upaya mendorong pembiayaan berkelanjutan.

Dana ini digunakan untuk meningkatkan kehidupan satu juta rumah tangga di seluruh ASEAN, mencapai satu juta jam per tahun untuk kegiatan keberlanjutan dan mem-berikan seribu hasil signifikan terkait United Nations Sustainable Development Goals (UN SDG) atau Tujuan Pembangunan Berkelanjutan PBB.

Tahun lalu, pesaing Maybank, CIMB Group Holdings Bhd, juga telah berkomitmen untuk menghapus batu bara dari portofolionya per 2040. CIMB mengklaim menjadi grup per-bankan pertama di Malaysia dan Asia Tenggara yang melakukan penghentian pembiayaan batu bara.(tas/tas)

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Demand from China Continues to

Increase, Iron Ore Prices Get

Hotter

Author: Lorenzo Anugrah Mahardhika

I

RON ore prices continue their relation-ship as demand surges in China and the global economic recovery gets underway. Reporting from Bloomberg on Monday (10/5/2021), the price of iron ore futures in Singapore had soared by 10 percent to a record high of US$ 226 per ton. The price level for iron ore has just broken through US$ 200 per ton last week.

Meanwhile, the commodity which is the raw material for steelmaking has enjoyed an increase in demand from China which has triggered a global supply deficit.

Commonwealth Bank of Australia Commo-dities Analyst Vivek Dhar said the current supply of iron ore has not been able to cover the rising demand that has occurred. "The market is questioning how long the increase in demand from China will last this year," he said as quoted by Bloomberg. Meanwhile, steel prices also experienced an increase in line with business sectors such as construction and manufacturing entering their peak period of operational activity. The stimulus also triggered the iron ore price rally.

"There is a possibility that the surge in demand from countries outside China will recover this year. After that, we will see an increase in global steel demand which will keep the iron ore price level at the current range," explained Dhar.

Permintaan dari China Terus

Meningkat, Harga Bijih Besi

Makin Panas

Author: Lorenzo Anugrah Mahardhika

H

ARGA bijih besi melanjutkan relinya seiring dengan lonjakan permintaan di China dan pemulihan ekonomi global yang mulai berjalan.

Dilansir dari Bloomberg pada Senin (10/5/2021), harga bijih besi berjangka di Singapura sempat melonjak hingga 10 persen pada rekor tertinggi US$226 per ton. Level harga bijih besi baru saja menembus US$200 per ton pada pekan lalu.

Adapun, komoditas yang menjadi bahan baku pembuatan baja ini menikmati kenaikan permintaan dari China yang memicu terjadinya defisit pasokan global. Analis Komoditas Commonwealth Bank of Australia Vivek Dhar mengatakan, pasokan bijih besi saat ini belum mampu menutupi kenaikan permintaan yang terjadi.

“Pasar tengah mempertanyakan seberapa lama kenaikan permintaan dari China akan berlangsung sepanjang tahun ini,” katanya dikutip dari Bloomberg.

Adapun, harga baja juga mengalami kenaikan seiring dengan sektor-sektor usaha seperti konstruksi dan manufaktur yang memasuki periode puncak kesibukan operasional. Gelontoran stimulus juga ikut memicu reli harga bijih besi.

“Ada kemungkinan lonjakan permintaan dari negara-negara di luar China akan kembali pulih pada tahun ini. Setelahnya, kita akan melihat permintaan baja global mengalami peningkatan yang akan mem-buat level harga bijih besi bertahan di kisaran saat ini,” jelas Dhar.

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Daily News Update Page 19 Not only iron ore, copper also set a record

high price in history as market optimism for the global economic recovery pushed up demand for commodities.

The commodity price known as the world's economic compass had shot up to US$ 10,440 per ton before arriving at US$ 10,417 per ton. The record price was set even after the release of the disappointing US jobs data. Editor: Farid Firdaus

Tidak hanya bijih besi, tembaga juga men-cetak rekor harga tertingginya sepanjang sejarah seiring dengan optimisme pasar terhadap pemulihan ekonomi global men-dorong lonjakan permintaan pada komoditas. Harga komoditas yang dijuluki sebagai kompas perekonomian dunia tersebut sempat melesat hingga US$10.440 per ton sebelum tiba pada US$10.417 per ton. Rekor harga tersebut tercipta bahkan setelah munculnya rilis data ketenagakerjaan AS yang mengecewakan. Editor : Farid Firdaus

Coal Price to the Moon, Will

Break New Records!

Tirta, CNBC Indonesia

T

HE PRICE of dragon-dragon coal will break its new record high. At the close of trading yesterday, the price of the rock rose 2.4% and reached US$ 98.25/ton. Now the ICE Newcastle thermal coal price is getting closer to its all-year high at US$ 98.4/ton at the end of March. Coal futures prices rose 2.55% last week. However, when compared to the same month last year, the price of coal has increased by 81%.

The aspect of global economic recovery is mainly supported by China which provides fresh air for commodity prices, including the price of coal.

As the largest coal consumer in the world, the 7% increase in electricity consumption in Panda Country is enough to raise the price of the jet rock to its highest level in several years.

Harga Batu Bara to the Moon,

Bakal Tembus Rekor Baru nih!

Tirta, CNBC Indonesia

H

ARGA batu bara naga-naganya bakal tembus rekor tertinggi barunya. Pada penutupan perdagangan kemarin harga si batu legam naik 2,4% dan tembus US$ 98,25/ton.

Kini harga batu bara termal ICE Newcastle sudah semakin mendekati level tertinggi-nya di sepanjang tahun di US$ 98,4/ton akhir Maret lalu. Harga kontrak berjangka (futures) batu bara naik 2,55% minggu lalu. Namun jika dibandingkan dengan bulan yang sama tahun lalu harga batu bara sudah naik 81%.

Aspek pemulihan ekonomi global terutama ditopang oleh China memberikan angin segar bagi harga-harga komoditas, tak terkecuali harga batu bara.

Sebagai konsumen batu bara terbesar di dunia, peningkatan konsumsi listrik di Negeri Panda sebesar 7% sudah cukup untuk mengerek naik harga si batu legam ke level tertinggi beberapa tahun.

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Daily News Update Page 20 The problem is that supply conditions in

China are also running low due to various restrictions on mining activities.

This has made China's Qinhuangdao reference price for thermal coal soaring sharply and being above the target range targeted by the government in the past year. This is what makes China continue to loosen import quotas so that utility company profit margins do not continue to be eroded. The increase in Chinese demand also boosted global coal prices.

The issue of decreasing production in Indonesia in the first quarter, delays in distribution lines in South Africa, and extreme weather that caused Australia to experience problems in shipping coal across the sea, also triggered soaring prices for this energy commodity amidst the risk of falling due to the spike in cases in India.

However, the geopolitical tensions between China and Australia have also helped to dynamize the global coal market, not only in the Asia Pacific region. In terms of importing thermal coal, China chooses RI as the supplier.

However, China refused to be supplied by coking coal from Australia. In contrast to thermal coal which is widely used as fuel in power plants, coking coal is widely used in the manufacturing and steelmaking industries.

In general, coking coal has a higher calorific value. The price of coking coal also tends to be premium compared to the price of thermal coal. As a replacement, China has switched to importing coking coal from the US and Canada.

US exports to China more than fivefold increased to 2.11 million tonnes, while Canadian exports increased 51% to 2.3 million tonnes. Meanwhile,...

Masalahnya kondisi pasokan di China juga sedang menipis dengan adanya berbagai pembatasan aktivitas penambangan. Hal ini membuat harga batu bara termal acuan China Qinhuangdao harganya melesat tajam dan berada di atas rentang target yang disasar pemerintah dalam satu tahun terakhir.

Hal inilah yang membuat China terus melonggarkan kuota impor agar margin laba perusahaan utilitas tak terus tergerus. Kenaikan permintaan China turut men-dongkrak harga batu bara global.

Isu penurunan produksi di Indonesia pada kuartal pertama, tersendatnya jalur distri-busi di Afrika Selatan hingga cuaca ekstrem yang membuat Australia meng-alami kendala dalam pengiriman batu bara lintas laut turut menjadi pemicu melesat-nya harga komoditas energi ini di tengah adanya risiko turun akibat lonjakan kasus di India.

Bagaimanapun juga tensi geopolitik antara China dengan Australia juga turut men-dinamisasi pasar batu bara global tak hanya di kawasan Asia Pasifik saja. Untuk urusan impor batu bara termal China memilih RI sebagai pemasok.

Namun China 'ogah' dipasok batu bara kokas dari Australia. Berbeda dengan batu bara termal yang banyak digunakan sebagai bahan bakar di pembangkit listrik, batu bara kokas banyak digunakan untuk industri manufaktur dan pembuatan baja. Secara umum batu bara kokas memiliki nilai kalori yang lebih tinggi. Harga batu bara kokas juga cenderung premium ketimbang harga batu bara termal. Sebagai penggantinya China beralih mengimpor batu bara kokas dari AS dan Kanada. Ekspor AS ke China naik lebih dari lima kali lipat menjadi 2,11 juta ton, sementara ekspor Kanada naik 51% menjadi 2,3 juta ton. Sementara itu,...

(21)

Daily News Update Page 21 Meanwhile, Australia now exports more of

its coal to India. Australian shipments to India rose 45% on a quarterly basis to 15.18 million tonnes.

The existence of a trade war between China and Australia has made Indonesia benefit. This is because RI is also a coal producer in the world with a production of more than 500 million tons per year. This year, production is expected to be higher than 550 million tons, given the rising coal prices and recovering demand supported by China's economic expansion. CNBC INDONESIA RESEARCH TEAM (twg/twg)

Sementara itu Australia kini lebih banyak mengekspor batu baranya ke India. Pengiriman Australia ke India naik 45% secara kuartalan menjadi 15,18 juta ton. Adanya perang dagang antara China dengan Australia ini membuat RI diuntungkan. Pasalnya RI juga merupakan produsen batu bara di dunia dengan produksi lebih dari 500 juta ton per tahun.

Tahun ini produksi diperkirakan bakal lebih tinggi dari 550 juta ton, mengingat adanya kenaikan harga batu bara dan permintaan yang mulai pulih ditopang oleh ekspansi ekonomi China. TIM RISET CNBC INDONESIA (twg/twg)

Copper price rockets to all-time high

Nickolas Zakharia

C

OPPER has topped its record price after reaching $US10,361 ($13,200) per tonne on the London Metal Exchange (LME) last week.

In April, the commodity rose to $US10,008, which was just shy of its previous $US10,190 per tonne record from 2011.

Copper demand has been a result of rebounding economies from the COVID-19 pandemic. T-Commodity partner Gianclaudio Torilizzi told Reuters that the industry is in “panic mode”. “We’re in uncharted territory right now and the market is a bit frothy. The industrial players are in panic mode since there’s not much supply,” Torilizzi said.

The record price was achieved on 7 May.

A Reuters poll has predicted copper to stall in the second half of the year due to China’s warning that a cap will be placed on high commodity prices to reduce inflation.

Last week, China’s National Development and Reform Commission (NDRC) suspended economic communications with Australia to push for Beijing’s move away from Australian commodities.

“Australian Commonwealth Government officials launched a series of measures to disrupt the normal exchanges and cooperation between China and Australia out of a Cold War mindset and ideological discrimination,” the NDRC stated.

Wood Mackenzie stated that China is unlikely to ban imports on Australian commodities it has a heavy reliance upon.

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Daily News Update Page 22 Wood Mackenzie anticipates China will instead raise administrative costs for imports. Goldman Sachs predicted that copper would hit $US15,000 per tonne by 2025.

“We estimate that by-mid decade this growth in green demand alone will match, and then quickly surpass, the incremental demand China generated during the 2000s,” Goldman Sachs stated.

“Ripple effects into non-green channels mean the 2020s are expected to be the strongest phase of volume growth in global copper demand in history.”

Australian metallurgical coal to continue supporting economies

Published by Jessica Casey, Editorial Assistant

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USTRALIA will continue to be a strong supplier of steel-making (metallurgical) coal over the next couple of decades due to its high quality, according to a report recently released by the Minerals Council of Australia (MCA).

‘Australian Metallurgical Coal: Quality Sought Around the World’ – the second in the MCA’s ‘Best in Class: Australia’s Bulk Commodity Giants’ series – is an in-depth exploration of how and why Australia is the largest seaborne exporter of steel-making coal.

Metallurgical coal is a critical component for steel making and Australia’s quality attracts customers from around the world from Asian countries such as India, China, Japan, South Korea, and Taiwan all the way to the EU. Over 96% of Australia’s metallurgical coal production is exported.

Using high-quality Australian metallurgical coal reduces emissions while maximising productivity for blast furnace operators.

MCA member companies are already taking action to further reduce emissions from the use of metallurgical coal. For example, BHP signed a memorandum of understanding with world leading steel producer, China Baowu, in November 2020 with the intention to invest up to US$35 million and share technical knowledge to help address the challenge of reducing greenhouse gas emissions facing the global steel industry.

The accelerated deployment of existing low emissions technologies and greater research and development of new and emerging technologies will be required to ensure the world is able to achieve the emissions reduction goals of the Paris Agreement.

Many of the metallurgical coals produced in Australia are integral to global steel production because of their specific properties which optimise blast furnace performance.

In 2019, Australia exported 184 million t (worth AUS$41.3 billion) of metallurgical coal, while North America (50 million t), Russia (39 million t) and Canada (35 million t) exported significantly smaller volumes.

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Daily News Update Page 23 Written by industry expert Anthony Le Bas, the report indicates the Indian market for steel-making coal is expected to substantially grow as steel production in the South Asia nation grows over the next 20 years.

High quality metallurgical coal is produced in New South Wales (the Illawarra, Hunter Valley, Gloucester Basin, and Gunnedah Basins, exported via Port Kembla and Newcastle) and in Queensland (Bowen Basin, exported via Hay Point and Abbot Point).

Australia’s world-leading metallurgical coal miners provide jobs for thousands of Australians in regional areas and contribute significantly to the local and national economy, and these areas are well placed to continue producing metallurgical coal for years to come to support global growth and infrastructure development.

AngloGold Ashanti ups earnings, production slides in first quarter

By Vladimir Basov

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NGLOGOLD Ashanti, one of the largest gold producers globally, reported today that its production for the first quarter of 2021 was 588,000oz at a total cash cost of $999/oz, compared with 630,000oz at a total cash cost of $773/oz from continuing operations in the same period in 2020.

The company said that solid production performances at AGA Mineração, Serra Grande, Siguiri and Obuasi were offset by declines at other mines in the portfolio.

AngloGold Ashanti's first quarter headline earnings of $203m were driven by the higher gold price, the company explained, as AngloGold continued its reinvestment programme aimed at completing the redevelopment of the Obuasi gold mine and adding new gold reserves across its portfolio.

Headline earnings of $203m, or 48 cents a share in the three months to the end of March 2021, compared to $143m, or 34 US cents per share, in the first quarter of 2020. Adjusted net debt declined by 43% year-on-year to $908m in the first quarter of 2021 from $1,606m in the first quarter of 2020.

"We continue to make progress in delivering on our strategy," interim CEO Christine Ramon said. "Our balance sheet remains in a solid position and Obuasi is making steady progress to completion."

In the first quarter of 2021, COVID-19 accounted for an estimated 4,000oz of lost production and an estimated $29/oz of all-in sustaining costs.

The company noted that the Brazilian operations and Obuasi mine were most affected by the pandemic during the first quarter, with high rates of absenteeism affecting productivity in Brazil and ongoing challenges encountered in the rotation of expatriate workers from Australia to Ghana.

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Daily News Update Page 24 AngloGold Ashanti added that this year and next will be key investment years for the company as it increases production from brownfields projects and builds on strong reserve additions from exploration in 2020, to increase its overall reserve base and the life of its mines. The company said it currently expects to meet its guidance for 2021.

China copper smelters to cut concentrate purchases in green push

Bloomberg News

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HINA’s major copper smelters have vowed to reduce purchases of concentrate this year as the country seeks to curb its carbon emissions, according to a state-run research firm.

The 15 largest smelters have agreed to trim purchases by 1.26 million tons, equivalent to around 300,000 tons of the metal, a statement posted on Saturday by Beijing Antaike Information Development Co. showed. That’s down 8.8% from a year earlier. The companies are “responding actively” to help the government reach its carbon neutral goals, according to the statement.

China has vowed to act strongly on climate change and has pledged to reach net zero emissions by 2060. Copper smelters have recommended limiting new capacity and plan to use more scrap metal to help the nation achieve its green goals, Beijing Antaike Information said last month. Consuming more scrap would enable them to use less copper directly extracted from mines.

Copper soared last week to an all-time high as the global recovery picked up with manufacturing output surging in places like the U.S., Germany and Japan. While China accounts for half of the world’s copper consumption and has played an integral part in the metal’s gain, demand there has softened this year.

Canadian miner to increase gold, copper production

Published by Jaroslaw Adamowski

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ANADIAN miner Barrick Gold Corporation has re-ported lower results for the first quarter of 2021, declaring it expected out-put to increase in the second half of this year.

“Production in the latter half of the year is expected to be higher than the first, mainly due to mine sequencing at Nevada Gold Mines, the commis-sioning of the new leach pad facility at Veladero in Argentina, the ramp-up of underground mining at Bulyanhulu and higher anticipated grades at Lumwana in Zambia,” Barrick Gold said in a statement.

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