TABLE OF CONTENTS. No. Title Media Source Page

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Daily News Update Page 1

Juan menjelaskan, pembangunan dua stasiun tersebut masing–masing berpotensi meningkatkan kapasitas sebesar 20 juta ton per tahun. Sehingga di akhir 2025, kapasitas pengangkutan PTBA ditargetkan sebesar 70,2 juta ton. Adapun kapasitas pengang-kutan saat ini baru sebesar 23,8 juta ton. Selain itu, Juan bilang langkah diversifikasi pendapatan juga akan menjadi prioritas PTBA ke depan. Beberapa langkah diver-sifikasi PTBA adalah melalui batubara termal, khususnya pada proyek pembangkit listrik dan juga hilirisasi.

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Daily News Update Page 4 Related to the power plant project, PTBA is

building a South Sumatra 8 Steam Power Plant (PLTU). This project is expected to start contributing in the first quarter of 2022.

While related to the downstream project, the PTBA project with Pertamina for gasification will enter the development stage in 2021. In addition, PTBA is also entering the activated carbon business. PTBA has just signed a Head of Agreement (HOA) with an activated carbon supplier, namely Activated Carbon Technologies PTY, and will enter the front end engineering design (FEED) stage in 2021. Samuel Sekuritas analyst Dessy Lapagu revealed that various diversification and downstream projects from PTBA would be useful to minimize the impact of the discourse on the implementation of a carbon tax by the government.

This plan is contained in the Macro-economic Framework and Fundamentals of Fiscal Policy (KEM-PPKF) 2022. This tax will be imposed based on the amount of emissions generated by economic activities or imposed on the emission source object. Potential objects that can be subject to carbon taxes such as fossil fuels and emissions issued by factories or motor vehicles. For the imposition of emissions on economic activities, the government can focus on carbon-intensive sectors such as the pulp and paper industry, cement, power plants, as well as petrochemicals. "This PTBA downstream business can eventually become a buffer in the midst of the carbon tax issue. Through down-streaming, PTBA's coal production can also be absorbed in other sectors," said Dessy. Dessy believes that a positive catalyst for PTBA's performance will also come from the increase in coal prices. He projects that...

Terkait dengan proyek pembangkit listrik, PTBA sedang membangun Pembangkit Listrik Tenaga Uap (PLTU) Sumsel 8. Proyek ini diperkirakan akan bisa mulai berkontribusi di kuartal pertama 2022. Sementara terkait dengan proyek hilirisasi, proyek PTBA bersama Pertamina untuk gasifikasi akan memasuki tahap pem-bangunan di 2021. Selain itu PTBA juga memasuki bisnis karbon aktif. PTBA baru menandatangani Head of Agreement (HOA) dengan produsen pemasok karbon aktif yaitu Activated Carbon Technologies PTY, dan akan memasuki tahap front end engineering design (FEED) di 2021.

Analis Samuel Sekuritas Dessy Lapagu mengungkapkan, berbagai proyek diver-sifikasi dan hilirisasi dari PTBA akan berguna untuk meminimalisir dari dampak wacana pemberlakuan pajak karbon oleh pemerintah.

Rencana ini tertuang dalam Kerangka Ekonomi Makro dan Pokok-pokok Kebijakan Fiskal (KEM-PPKF) 2022. Pajak ini akan dikenakan berdasar jumlah emisi yang dihasilkan oleh aktivitas ekonomi atau dikenakan atas objek sumber emisi. Objek potensial yang dapat dikenakan pajak karbon seperti bahan bakar fosil dan emisi yang dikeluarkan oleh pabrik atau kendaraan bermotor. Untuk pengenaan emisi atas aktivitas ekonomi, pemerintah dapat fokus pada sektor padat karbon seperti industri pulp and paper, semen, pembangkit listrik, juga petrokimia.

"Bisnis hilirisasi PTBA ini pada akhirnya bisa menjadi buffer di tengah isu pajak karbon tersebut. Lewat hilirisasi, produksi batubara PTBA juga bisa diserap di sektor lain," kata Dessy.

Dessy meyakini, katalis positif untuk kinerja PTBA juga akan datang dari kenaikan harga batubara. Ia mem -proyeksikan,...

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Daily News Update Page 5 He projects that the average price of coal in

the first semester of 2021 will be at the level of US$ 92 per ton-US$ 95 per ton. According to him, with the strengthening of coal prices, PTBA's performance in the second quarter of 2021 will be boosted. Maybank analyst Kim Eng Sekuritas Isnaputra Iskandar in his research on June 7, wrote, from a fundamental point of view, PTBA is still strong, and will benefit from high coal prices.

"PTBA will continue to benefit from smoldering international coal prices, even though PTBA's total export sales volume is the lowest among coal issuers under Maybank Kim Eng's coverage," Isnaputra wrote in his research.

Isnaputra projects that the blended average selling price (ASP) in the second quarter will rise 7.6% on a quarterly basis to US$ 51.5 per tonne from US$ 47.8 per ton in the first quarter of 2021.

According to him, the increase in the ASP projection is inseparable. from a higher export ASP of US$ 60.5 per tonne (+12.2% qq) in line with higher international coal prices. Then, the portion of PTBA's total export volume increased to 40% from 31% in the first quarter of 2021.

On the one hand, Isnaputra is also not too worried about the impact of rising world oil prices on PTBA's total costs. Based on his calculations, the share of fuel is only 3% of the total expenditure in the first quarter of 2021. Moreover, about 20-30% of the excavators used operate using a power source.

This year, Maybank Kim Eng projects that PTBA's revenue will reach Rp 20.08 trillion with a net profit of Rp 2.99 trillion.

Ia memproyeksikan, harga rata-rata batu-bara pada semester I-2021 akan berada di level US$ 92 per ton-US$ 95 per ton. Menurutnya, dengan harga batubara yang menguat, kinerja PTBA pada kuartal II-2021 akan terdorong.

Analis Maybank Kim Eng Sekuritas Isnaputra Iskandar dalam risetnya pada 7 Juni menuliskan, dari sisi fundamental, PTBA masih tetap kuat, serta akan di-untungkan dengan harga batubara yang sedang tinggi.

“PTBA akan tetap diuntungkan oleh harga batubara internasional yang sedang mem-bara, meskipun total penjualan volume ekspor PTBA merupakan yang terendah di antara emiten batubara yang berada dalam coverage Maybank Kim Eng,” tulis Isnaputra dalam risetnya.

Isnaputra memproyeksikan blended average selling price (ASP) pada kuartal kedua akan naik 7,6% secara kuartalan menjadi US$ 51,5 per ton dari US$ 47,8 per ton di kuartal pertama 2021.

Menurut dia, kenaikan proyeksi ASP ini tidak terlepas dari ASP ekspor yang lebih tinggi, yakni US$ 60,5 per ton (+12,2% secara kuartalan) seiring oleh harga batubara internasional yang lebih tinggi. Lalu, meningkatnya porsi total volume ekspor PTBA menjadi 40% dari 31% pada kuartal pertama 2021.

Di satu sisi, Isnaputra juga tidak terlalu khawatir terhadap dampak kenaikan harga minyak dunia terhadap total biaya PTBA. Berdasarkan hitungannya, porsi bahan bakar hanya sebesar 3% dari total pengeluaran pada kuartal pertama 2021. Terlebih lagi, sekitar 20-30% dari ekskavator yang diguna-kan beroperasi menggunadiguna-kan sumber listrik. Pada tahun ini, Maybank Kim Eng mem-proyeksikan pendapatan PTBA akan men-capai Rp 20,08 triliun dengan laba bersih sebesar Rp 2,99 triliun.

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Daily News Update Page 6 Isnaputra still recommends buying PTBA

shares with a target price of Rp 3,500 per share. Meanwhile, Juan and Dessy also recommend buying PTBA shares with the same target price, which is Rp 2,900 per share.

Isnaputra pun masih merekomendasikan untuk beli saham PTBA dengan target harga Rp 3.500 per saham. Sementara Juan dan Dessy juga merekomendasikan untuk beli saham PTBA dengan target harga yang sama, yakni Rp 2.900 per saham.

J Resources Asia Stops Issuing

PUB I

By: Ahmad Nabhani

C

ONSIDERING the economy, the costs involved are quite large compared to the value issued, which is the reason for PT J Resources Asia Pacific Tbk (PSAB) to stop or discontinue the sustainable public offering program I or (PUB) which has a target fund of Rp 3 trillion.

This mineral mining issuer in a press release in Jakarta yesterday decided to discontinue sustainable bonds I even though the issuance period is still valid until June 26, 2021 and the total funds raised have not reached the target. This is due to economic considerations of the costs required to continue PUB I compared to the remaining value of PUB I.

Meanwhile, the company is listed as having a sustainable public offering I J Resources Asia Pacific which received an effective statement on 27 June 2019 with a total fund raised of Rp 3 trillion. During the PUB I period, PSAB issued 7 bonds with a total fund raised of around Rp. 2.87 trillion. So if the details of PUB I consist of, stage I bonds in 2019 amounting to Rp256 billion, stage II bonds in 2019 amounting to Rp500 billion, stage III bonds in 2020 amounting to Rp569.65 billion, stage IV bonds in 2020 amounting to Rp225 billion, stage V bonds 2020 of Rp 650 billion.

J Resources Asia Hentikan

Penerbitan PUB I

Oleh: Ahmad Nabhani

M

EMPERTIMBANGKAN ekonomi atas biaya yang diperlukan cukup besar dibandingkan nilai dari yang diterbitkan, menjadi alasan bagi PT J Resources Asia Pasifik Tbk (PSAB) untuk menghentikan atau tidak melanjutkan program penawaran umum berkelanjutan I atau (PUB) yang memiliki target dana Rp 3 triliun.

Emiten pertambangan mineral ini dalam siaran persnya di Jakarta, kemarin memutuskan untuk menghentikan obligasi berkelanjutan I meskipun jangka waktu penerbitan masih berlaku hingga 26 Juni 2021 dan total dana dihimpun belum mencapai target. Hal itu karena pertimbangan ekonomi atas biaya yang diperlukan untuk melanjutkan PUB I di-bandingkan dengan nilai PUB I yang tersisa. Adapun, perseroan tercatat memiliki pena-waran umum berkelanjutan I J Resources Asia Pasifik yang mendapatkan pernyataan efektif pada 27 Juni 2019 dengan total dana dihimpun Rp3 triliun. Selama periode PUB I itu PSAB telah menerbitkan 7 tahap obligasi dengan total dana yang telah dihimpun sekitar Rp2,87 triliun. Maka jika diperinci PUB I terdiri atas, obligasi tahap I tahun 2019 sebesar Rp256 miliar, obligasi tahap II tahun 2019 sebesar Rp500 miliar, obligasi tahap III tahun 2020 sebesar Rp569,65 miliar, obligasi tahap IV tahun 2020 sebesar Rp225 miliar, obligasi tahap V tahun 2020 sebesar Rp650 miliar.

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Daily News Update Page 7 Then, stage VI bonds in 2020 amounted to

Rp415.26 billion, and stage VII bonds in 2021 amounted to Rp257.26 billion. Thus, the remaining target amount of funds that have not been collected is Rp126.83 billion. This year, the company allocates capital expenditure (capex) of US$ 136 million. This capital expenditure will be used to complete the Doup project in North Sulawesi, as well as other needs.

Director of J Resources, Sanjaya Yang, said that so far the Doup project has completed the signing of the contract with SGS Bateman in October 2020. "The contract signed is related to engineering design," he said.

Previously, the company through its subsidiary, PT J Resources Nusantara (JRN), had paid off the Medium Term Notes (MTN) IV Phase I of Rp 300 billion today. J Resources Asia Pacific Corporate Secretary Edi Permadi in the disclosure of information said that with the timely repayment of the MTN, J Resources hopes that the trust of shareholders, stake-holders, and investors in the company will continue to be maintained.

Kemudian, obligasi tahap VI Tahun 2020 sebesar Rp415,26 miliar, dan obligasi tahap VII tahun 2021 sebesar Rp257,26 miliar. Dengan demikian, jumlah sisa target dana yang belum dihimpun adalah sebesar Rp126,83 miliar. Tahun ini, perseroan mengalokasikan belanja modal (capital expenditure/capex) sebesar US$ 136 juta. Belanja modal ini akan digunakan untuk menyelesaikan proyek Doup di Sulawesi Utara, serta keperluan lainnya.

Direktur J Resources, Sanjaya Yang pernah bilang, sejauh ini pengerjaan proyek Doup sudah menuntaskan penandatanganan kontrak dengan SGS Bateman pada Oktober 2020. "Kontrak yang ditandatangani terkait engineering design," kata dia.

Sebelumnya, perseroan melalui anak usahanya, PT J Resources Nusantara (JRN), telah melunasi surat utang jankan menengah (Medium Term Notes/MTN) IV Tahap I sebesar Rp 300 miliar hari ini. Corporate Secretary J Resources Asia Pasifik Edi Permadi dalam keterbukaan informasi menyampaikan bahwa dengan pelunasan MTN secara tepat waktu tersebut, J Resources berharap kepercayaan para pemegang saham, pemegang kepentingan, dan investor terhadap perseroan terus terjaga.

Aneka Tambang (ANTM) imports

gold, apparently this is the

reason

Reporter: Muhammad Julian | Editor: Khomarul Hidayat

T

HE MINISTRY of Trade (Kemendag) noted that imports of gold raw materials with the Harmonized System (HS) Codes 71081210 increased in the last 5 years from US$ 817 million in 2016 to US$ 1.8 billion in 2020.

Aneka Tambang (ANTM)

lakukan impor emas, ternyata

ini alasannya

Reporter: Muhammad Julian | Editor: Khomarul Hidayat

K

EMENTERIAN Perdagangan (Kemendag) mencatat, impor bahan baku emas dengan Harmonized System (HS) Codes 71081210 meningkat dalam 5 tahun terakhir dari semula US$ 817 juta pada 2016 menjadi US$ 1,8 miliar di tahun 2020.

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Daily News Update Page 8 Just to illustrate, gold raw materials with

HS Code 71081210 consist of in the form of ingots, ingots and casting rods. The main exporting countries for gold raw materials to Indonesia include Hong Kong, Singapore, Australia, Japan and South Korea.

The import of gold raw materials is also carried out by the state-owned company, PT Aneka Tambang Tbk or Antam (ANTM). This was confirmed by ANTM's SVP Corporate Secretary, Yulan Kustiyan. To Kontan.co.id, Yulan said, ANTM continues to optimize production from Antam's gold mines in Pongkor and Cibaliung to meet customer needs in investing in gold. However, ANTM also imports gold raw materials in the post tariff category 71081210 due to the high public interest in gold investment.

"Given the high public interest in investing in gold, as reflected in the sales achievement of 7,411 kg in the first quarter of 2021, an increase of 45% from the achievement of the same period in 2020, Antam needs additional gold from other clear and legal sources, one of which is through imports," said Yulan to Kontan.co.id (16/6).

In line with Yulan's statement, ANTM's interim financial report shows an increase in sales turnover from gold products in the first three months of this year. It was recorded that ANTM's gold product sales increased 65.76% year-on-year (yoy) from Rp 3.97 trillion in the first quarter of 2020 to Rp 6.58 trillion in the first quarter of 2021.

The sales achievement of gold products contributed 71.51% of ANTM's total consolidated sales (including revenue from precious metal refining services and other services) in the first quarter of 2021.

Sekadar gambaran, bahan baku emas dengan HS Code 71081210 terdiri atas dalam bentuk bongkah, ingot dan batang tuangan. Negara pengekspor utama bahan baku emas tersebut ke Indonesia antara lain terdiri dari Hong Kong, Singapura, Australia, Jepang dan Korea Selatan.

Impor bahan baku emas juga dilakukan perusahaan pelat merah, PT Aneka Tambang Tbk atau Antam (ANTM). Hal ini dikonfirmasi SVP Corporate Secretary ANTM, Yulan Kustiyan.

Kepada Kontan.co.id, Yulan mengatakan, ANTM tetap mengoptimalkan produksi dari tambang emas milik Antam di Pongkor dan Cibaliung untuk memenuhi kebutuhan pelanggan dalam melakukan investasi emas. Hanya saja, ANTM juga melakukan impor-tasi bahan baku emas dalam kategori pos tarif 71081210 lantaran tingginya minat masyarakat dalam investasi emas.

“Mengingat tingginya minat masyarakat dalam melakukan investasi emas, sebagai-mana tercermin dari pencapaian penjualan triwulan pertama 2021 sebesar 7.411 kg, meningkat 45% dari capaian periode yang sama di 2020, Antam memerlukan tambahan emas dari sumber lain yang jelas dan legal, salah satunya melalui jalur impor,” kata Yulan kepada Kontan.co.id (16/6).

Sejalan dengan keterangan Yulan, laporan keuangan interim ANTM menunjukkan adanya kenaikan omset penjualan dari produk emas pada tiga bulan pertama tahun ini. Tercatat, penjualan produk emas ANTM melesar 65,76% secara tahunan atawa year-on-year (yoy) dari semula Rp 3,97 triliun pada kuartal I 2020 menjadi Rp 6,58 triliun di kuartal I 2021.

Pencapaian penjualan produk emas ter-sebut berkontribusi 71,51% dalam total penjualan konsolidasi (termasuk penda-patan dari jasa pemurnian logam mulia dan jasa lainnya) ANTM di kuartal I 2021.

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Daily News Update Page 9 In line with the increase in sales of gold

products, ANTM's top line has skyrocketed 77.03% yoy from Rp 5.20 trillion in the first quarter of 2020 to Rp 9.21 trillion in the first quarter of 2021. From the sales results, ANTM managed to pocket the profit for the year attributable to owners of the parent entity aka net profit of Rp 630.37 billion in the first quarter of 2021. Previously, ANTM recorded a net loss of Rp 281.83 billion in the same period last year. Yulan did not specify the volume of ANTM's gold raw material imports from time to time. What is clear, he ensures that the importation activities are carried out in accordance with applicable regulations. "In relation to gold imports, Antam has complied with the import duty tariff obligations in accordance with applicable regulations, in this case the gold casting bar with the tariff heading category 71081210," said Yulan.

Extend Pongkor IUP

Despite importing, ANTM is still trying to optimize production from the company's gold mines. Yulan revealed that ANTM had carried out the process of extending the mining business permit (IUP) in accordance with the provisions of the Minister of Investment/Head of the Investment Coordinating Board of the Republic of Indonesia. With this extension, ANTM's IUP in the Pongkor mine will be valid until 2031.

Based on Kontan.co.id's records, ANTM's IUP at the Pongkor gold mine expires in 2021.

"Regarding ANTAM's IUP in Pongkor, the company has carried out the process of extending the IUP in accordance with the provisions of the Minister of Investment/ Head of the Investment Coordinating Board of the Republic of Indonesia," explained Yulan.

Sejalan dengan kenaikan penjualan produk emas, torehan top line ANTM meroket 77,03% yoy dari semula Rp 5,20 triliun di kuartal I 2020 menjadi Rp 9,21 triliun di kuartal I 2021. Dari hasil penjualan itu, ANTM berhasil mengantongi laba tahun berjalan yang dapat diatribusikan kepada pemilik entitas induk alias laba bersih sebesar Rp 630,37 miliar di kuartal I 2021. Sebelumnya, ANTM tercatat membukukan rugi bersih Rp 281,83 miliar pada periode sama tahun lalu.

Yulan tidak merinci berapa volume impor bahan baku emas ANTM dari waktu ke waktu. Yang terang, ia memastikan bahwa kegiatan importasi tersebut dilakukan dengan mengikuti ketentuan yang berlaku. “Dalam kaitannya dengan impor emas yang dilakukan, Antam telah memenuhi kewajiban tarif bea masuk sesuai dengan ketentuan yang berlaku dalam hal ini gold casting bar dengan kategori pos tarif 71081210," kata Yulan.

Perpanjang IUP Pongkor

Meski melakukan impor, ANTM masih terus berupaya mengoptimalkan produksi dari tambang-tambang emas perusahaan. Yulan mengungkapkan, ANTM telah me-lakukan proses perpanjangan izin usaha pertambangan (IUP) sesuai ketetapan Menteri Investasi/Kepala Badan Koordinasi Penanaman Modal Republik Indonesia. Dengan adanya perpanjangan ini, IUP ANTM di tambang Pongkor akan berlaku hingga 2031 mendatang.

Berdasarkan catatan Kontan.co.id, IUP ANTM di tambang emas Pongkor habis pada tahun 2021 ini.

“Terkait dengan IUP ANTAM di Pongkor, perusahaan telah melakukan proses per-panjangan IUP sesuai ketetapan Menteri Investasi/Kepala Badan Koordinasi Penanaman Modal Republik Indonesia,” terang Yulan.

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Daily News Update Page 10 As is known, ANTM operates 2 gold mines

in the country. Besides Pongkor, ANTM also operates a gold mine in Cibaliung, Pandeglang, Banten. In 2020, ANTAM recorded gold production volume from the Pongkor and Cibaliung mines of 1,672 kg (53,756 troy oz).

Yulan ensured that ANTM always carried out operations in accordance with applicable regulations and good mining principles, starting from mining, processing, environmental management and reclamation, as well as social responsibility.

"ANTAM has placed reclamation guarantees and post-mining guarantees and has been submitted to the Directorate General of Mineral and Coal, Ministry of Energy and Mineral Resources as a form of company commitment in managing the mining environment," added Yulan.

Seperti diketahui, ANTM mengoperasikan 2 tambang emas di dalam negeri. Selain Pongkor, ANTM juga mengoperasikan tambang emas di Cibaliung, Pandeglang, Banten. Pada tahun 2020, ANTAM men-catatkan volume produksi emas dari Tambang Pongkor dan Cibaliung sebesar 1.672 kg (53.756 troy oz).

Yulan memastikan, ANTM senantiasa me-laksanakan kegiatan operasi sesuai dengan ketentuan yang berlaku dan kaidah penambangan yang baik, mulai dari penambangan, pengolahan, pengelolaan lingkungan dan reklamasi, serta tanggung jawab sosial.

“ANTAM telah menempatkan jaminan reklamasi serta jaminan pasca tambang dan telah disubmit kepada Ditjen Minerba, Kementerian ESDM sebagai bentuk komitmen perusahaan dalam pengelolaan lingkungan pertambangan,” imbuh Yulan.

Indo Tambangraya Formulates

Business Transformation

Yurika

P

T INDO Tambangraya Megah Tbk (ITMG), a coal mining producer, stated that it has formulated a business transfor-mation into an energy solutions company in the future. ITMG claims to have updated the company's vision and mission, as well as the preparation of a long-term strategic plan for 2021-2025.

Mulianto, President Director of ITMG, said that through ongoing transformation, ITMG is committed to becoming a company in the energy sector with a core of innovation, technology, inclusion and sustainability.

Indo Tambangraya Rumuskan

Transformasi Bisnis

Yurika

P

T INDO Tambangraya Megah Tbk (ITMG), produsen tambang batu bara, menyatakan telah merumuskan transfor-masi bisnis menjadi perusahaan solusi energi di masa depan. ITMG mengklaim telah melakukan pembaruan visi dan misi perusahaan, serta penyusunan rencana strategis jangka panjang tahun 2021-2025. Mulianto, Direktur Utama ITMG, meng-ungkapkan bahwa melalui transformasi yang terus disiapkan, ITMG berkomitmen menjadi perusahaan di bidang energi yang berintikan inovasi, teknologi, inklusi dan keberlanjutan.

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Daily News Update Page 11 “We are aware that challenging situations

will continue to be faced in the next few years. In addition to the COVID-19 pandemic, another challenge is the transition from the use of fossil-based energy to new and renewable energy (EBT). Although it still takes time, this change must be prepared early on to ensure a sustainable business, as well as the implementation of sustainability principles," said Mulianto, as stated in the Sustainability Report 2020 submitted in the FGD, Wednesday (16/6).

He mentioned that during 2020 ITMG can maintain its sustainability performance. In the operational sector, the company realized coal production of 18.4 million tons. ITMG's resilience reached production levels, coupled with the ability to maintain coal sales to customers, with a total net revenue of US$1,185 million. Part of the business income earned is distributed to stakeholders according to their respective needs.

In implementing social and environmental responsibility, ITMG stated that it will continue to align its CSR program so that it is integrated for all subsidiaries. The CSR Department also sharpens empowerment programs according to the Ministry of ESDM Decree 1824 K/30/MEM/2018, as well as ISO 26000 so that it becomes comprehensive.

In the field of environmental management, sites managed by subsidiaries received Blue PROPER from the Ministry of Environment and Forestry (KLHK), as well as Green PROPER from the Provincial Government of East Kalimantan. This achievement shows that environmental management has been carried out according to the requirements, even exceeding government regulations.

“Kami menyadari, situasi penuh tantangan masih akan terus dihadapi dalam beberapa tahun mendatang. Selain pandemi COVID-19, tantangan lain adalah peralihan bentuk pemanfaatan energi berbasis fosil, kepada energi baru dan terbarukan (EBT). Meski masih memerlukan waktu, namun per-ubahan ini harus dipersiapkan sejak dini untuk memastikan bisnis berkelanjutan, serta penerapan prinsip-prinsip keber-lanjutan,” ungkap Mulianto, seperti disebutkan dalam Sustainability Report 2020 yang disampaikan dalam FGD, Rabu (16/6).

Dia menyebutkan bahwa selama tahun 2020 ITMG dapat mempertahankan kinerja keberlanjutan. Di bidang operasional, perusahaan merealisasikan produksi batu bara sebesar 18,4 juta ton. Ketahanan ITMG mencapai tingkat produksi, dibarengi kemampuan menjaga tingkat penjualan batu bara kepada pelanggan, dengan total perolehan pendapatan bersih US$1.185 juta. Sebagian dari pendapatan usaha yang diperoleh, didistribusikan kepada pemangku kepentingan sesuai kebutuhan masing-masing.

Dalam pelaksanaan tanggung jawab sosial dan lingkungan, ITMG menyatakan akan terus melakukan penyelarasan program CSR sehingga terintegrasi untuk semua anak perusahaan. Departemen CSR juga menajamkan program-program pember-dayaan sesuai Kepmen ESDM 1824 K/30/ MEM/2018, serta ISO 26000 sehingga menjadi komprehensif.

Di bidang pengelolaan lingkungan, site yang dikelola anak usaha memperoleh PROPER Biru dari Kementerian Lingkungan Hidup dan Kehutanan (KLHK), serta PROPER Hijau dari Pemerintah Provinsi Kalimantan Timur. Pencapaian ini menunjukkan, pengelolaan lingkungan telah dilakukan sesuai yang dipersyarakatkan, bahkan melebihi dari regulasi pemerintah.

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Daily News Update Page 12 Mulianto said that although he was faced

with difficult challenges, he believed that the business prospects in the coming years would be better. The re-movement of the national and global economy has encouraged an increase in energy demand so that it has an impact on increasing demand and prices for coal.

With a variety of product characteristics, ITMG implements a strategy of mixing available production quality to meet customer needs. We will also continue to innovate to drive more efficient production costs.

Mulianto said that in order to ensure business sustainability, in the coming years ITMG would study the potential of coal downstreaming as a form of business transformation. Currently, the company is conducting feasibility tests for several coal downstream projects to become “greener and smarter”, and is reviewing the potential of mineral mining in line with the expertise and mastery of mining technology so far.

“I hope that stakeholders' support for ITMG will continue to be a strength for us to strengthen sustainability. This support is an important capital to ensure ITMG's business continues to grow in the future," he said. (RA)

Mulianto mengatakan, walau dihadapkan pada tantangan tidak ringan namun pihaknya berkeyakinan prospek usaha pada tahun-tahun mendatang akan lebih baik. Bergeraknya kembali ekonomi nasional dan global, mendorong peningkatan kebutuhan energi sehingga berimbas pada peningkatan permintaan dan harga batu bara.

Dengan karakter produk yang bervariasi, ITMG menerapkan strategi pencampuran kualitas produksi yang tersedia untuk memenuhi kebutuhan pelanggan. Kami juga akan terus melakukan berbagai inovasi untuk mendorong biaya produksi yang lebih efisien. Mulianto menyampaikan, bahwa untuk me-mastikan keberlanjutan usaha, pada tahun-tahun mendatang ITMG akan mengkaji potensi hilirisasi batu bara sebagai bentuk transformasi bisnis. Saat ini, perusahaan melakukan uji kelayakan beberapa proyek hilirisasi batu bara menjadi “greener and smarter”, serta sedang mengkaji potensi pertambangan mineral sejalan dengan keahlian serta penguasaan teknologi pertam-bangan yang dimiliki selama ini.

“Saya berharap dukungan para pemangku kepentingan bagi ITMG akan terus menjadi kekuatan bagi kami untuk memperkuat keberlanjutan. Dukungan ini menjadi modal penting untuk memastikan bisnis ITMG terus tumbuh di masa mendatang,” katanya. (RA)

Coal Price at the Highest Level,

Bukit Asam (PTBA) Stimulates

Sales

Author: Finna U. Ulfah

A

COAL mining company, PT Bukit Asam Tbk., will boost sales in line with rising global coal prices and demand in several countries.

Harga Batu Bara di Level

Tertinggi, Bukit Asam (PTBA)

Pacu Penjualan

Author: Finna U. Ulfah

E

MITEN pertambangan batu bara, PT Bukit Asam Tbk., akan memacu penjualan seiring dengan meningkatnya harga batu bara global dan permintaan di beberapa negara.

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Daily News Update Page 13 Bukit Asam Corporate Secretary

Apollonius Andwie C. said that he would take advantage of the upward trend in coal prices and increased demand to boost performance growth.

He explained that the company will increase massive penetration in potential new markets, both domestic and export, while maintaining the existing market. "Along with the economic recovery, of course, the Chinese market also has an increase in demand that can be utilized by the company," said Pollo to Bisnis, Friday (11/6/2021).

In addition, Pollo explained that the increase in coal prices would be an opportunity for the company to increase production this year.

Meanwhile, the production target of issuers coded as PTBA shares in 2021 is 30 million tons.

Based on data from Bloomberg, at the close of trading on Tuesday (15/6/2021) the price of Newcastle coal on the ICE exchange for the most active parking contract was at US$119.75 per ton, down 1.03 percent. The price had touched the level of US$ 124 last week which is the highest price since 2011.

Throughout the current year 2021, coal prices have increased 39.65 percent. PTBA will also apply operational excellence along the supply chain in order to obtain an optimal level of efficiency. Editor : Farid Firdaus

Sekretaris Perusahaan Bukit Asam Apollonius Andwie C. mengatakan bahwa akan memanfaatkan momentum tren kenaikan harga batu bara dan peningkatan permintaan untuk menggenjot pertum-buhan kinerja.

Dia menjelaskan bahwa perseroan akan meningkatkan penetrasi masif pada pasar baru yang potensial, baik domestik maupun ekspor, sembari mempertahankan pasar eksisting.

“Seiring dengan pemulihan ekonomi tentu-nya pasar China juga terdapat kenaikan permintaan yang bisa dimanfaatkan oleh perseroan,” ujar Pollo kepada Bisnis, Jumat (11/6/2021).

Selain itu, Pollo menjelaskan bahwa kenaikan harga batu bara akan menjadi peluang bagi perseroan meningkatkan produksi di tahun ini.

Adapun, target produksi emiten berkode saham PTBA pada 2021 sebesar 30 juta ton.

Berdasarkan data Bloomberg, pada penu-tupan perdagangan Selasa (15/6/2021) harga batu bara Newcastle di bursa ICE untuk kontrak teraktif parkir di level US$119,75 per ton, turun 1,03 persen. Harga sempat menyentuh level US$124 pada pekan lalu yang merupakan harga tertinggi sejak 2011.

Sepanjang tahun berjalan 2021, harga batu bara telah naik 39,65 persen.

PTBA juga akan menerapkan keunggulan operasi di sepanjang rantai pasok guna mendapatkan tingkat efisiensi yang optimal. Editor : Farid Firdaus

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PT Timah (TINS) focuses on

maintaining financial profile

Reporter: Akhmad Suryahadi | Editor: Wahyu T. Rahmawati

T

HE PROSPECT of PT Timah Tbk (TINS) is believed to be bright this year. The proof is that PT Pemeringkat Efek Indonesia (Pefindo) assigned a single A rating to TINS and revised the outlook for TINS from negative to stable.

This year, TINS will focus on paying off working capital credit (KMK). The Corporate Secretary of PT Timah Abdullah Umar Baswedan said that the minimum KMK reduction target was around Rp 1.3 trillion. In the first quarter of 2021, the target has been realized by almost Rp 1 trillion.

In addition to lowering the working capital allowance, the state-owned issuer is also negotiating in lowering interest rates. "Meanwhile, the decrease in the rupiah interest rate is expected to fall in the range of 1% and has been carried out gradually starting in the first quarter of 2021," Umar explained to Kontan.co.id.

This reduction in interest-bearing debt will improve TINS's debt to equity ratio (DER). As of the first quarter, the DER of this tin producer was at the level of 123.19%. Although he did not mention exact figures, Umar said that the DER target in the future would be better than the first three months of 2021.

Along with the improvement in tin prices, TINS management projects that its financial performance will be better than last year. In the first quarter of 2021,...

PT Timah (TINS) berfokus

menjaga profil keuangan

Reporter: Akhmad Suryahadi | Editor: Wahyu T. Rahmawati

P

ROSPEK PT Timah Tbk (TINS) diyakini masih cerah tahun ini. Buktinya, PT Pemeringkat Efek Indonesia (Pefindo) menyematkan peringkat single A untuk TINS dan merevisi outlook TINS dari semula negatif menjadi stabil.

Tahun ini, TINS akan berfokus salah satunya melunasi utang kredit modal kerja (KMK). Sekretaris Perusahaan PT Timah Abdullah Umar Baswedan menyebut, target penurunan KMK minimal sekitar Rp 1,3 triliun. Pada kuartal pertama 2021, target tersebut telah terealisasi hampir Rp 1 triliun.

Selain menurunkan KMK, emiten pelat merah ini juga melakukan negosiasi dalam menurunkan tingkat suku bunga.

“Sementara penurunan suku bunga rupiah diharapkan bisa turun di kisaran 1% dan telah dilakukan secara bertahap mulai kuartal pertama 2021,” terang Umar kepada Kontan.co.id.

Penurunan utang berbunga ini akan memperbaiki debt to equity ratio (DER) TINS. Per kuartal pertama, DER produsen timah ini berada di level 123,19%. Meski tidak menyebut angka pasti, Umar menyebut target DER ke depan akan lebih baik dari tiga bulan pertama 2021.

Seiring dengan membaiknya harga timah, manajemen TINS memproyeksikan kinerja keuangan akan lebih baik daripada tahun lalu. Kuartal pertama 2021,...

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Daily News Update Page 15 In the first quarter of 2021, TINS has

recorded an operating profit of Rp. 131 billion with a net profit of Rp. 10 billion. This is inversely proportional to a net loss of Rp 412.85 billion in the first quarter of 2020.

Even though it was out of the loss trap, TINS' revenue still fell by 44.78 percent to Rp 2.44 trillion. Previously, TINS' revenue reached Rp 4.42 trillion in the same period last year.

The decline in TINS' revenue is inseparable from the decline in the volume of production and sales of tin metal. Tin production in the first quarter fell 63 percent to 5,220 tons and sales of tin fell 66% to 5,912 tons.

The declining production and sales of TINS due to the effects of the Covid-19 pandemic still continued, affecting production performance in the first three months of 2021. Although sales volume decreased, TINS recorded an increase in the average selling price (ASP) in the first three months of 2021.

It is recorded that Timah's ASP as of the first quarter of 2021 is US$ 24,968 per metric ton. This selling price rose 49.48% from the realization of ASP as of the first quarter of 2020 which was only US$ 16,703 per MT.

Umar said that the increase in the average selling price of tin in the first quarter was due to, among other things, tight global tin supply. The increase in ASP was also triggered by an increase in the demand for tin in the soldering industry.

TINS targets sales of 31,000 tons of tin this year. The strategies undertaken by TINS include meeting the domestic demand for tin and optimizing the supply of metal in the American, European and Asian markets.

Kuartal pertama 2021, TINS telah mem-bukukan laba operasi sebesar Rp 131 miliar dengan laba bersih sebesar Rp 10 miliar. Hal ini berbanding terbalik dari kerugian bersih Rp 412,85 miliar pada kuartal pertama 2020.

Meski sudah keluar dari jerat kerugian, pendapatan TINS masih turun 44,78% menjadi Rp 2,44 triliun. Sebelumnya, pendapatan TINS mencapai Rp 4,42 triliun di periode yang sama tahun lalu.

Penurunan pendapatan TINS tidak terlepas dari penurunan volume produksi dan penjualan logam timah. Produksi logam timah pada kuartal pertama turun 63% menjadi 5.220 ton dan penjualan logam timah terkoreksi 66% menjadi 5.912 ton. Produksi dan penjualan TINS yang menurun karena efek pandemi Covid-19 masih berlanjut sehingga mempengaruhi kinerja produksi di tiga bulan pertama 2021. Meski volume penjualan menurun, TINS mencatatkan kenaikan harga jual rata-rata atau average selling price (ASP) di tiga bulan pertama 2021.

Tercatat, ASP Timah per kuartal pertama 2021 sebesar US$ 24.968 per metrik ton. Harga jual ini naik 49,48% dari realisasi ASP per kuartal pertama 2020 yang hanya US$ 16.703 per MT.

Umar mengatakan, kenaikan harga jual rata-rata logam timah pada kuartal pertama disebabkan antara lain oleh ketatnya pasokan timah global. Kenaikan ASP juga dipicu oleh adanya peningkatan permintaan timah di industri solder. TINS menargetkan penjualan logam timah sebanyak 31.000 ton pada tahun ini. Strategi yang dilakukan TINS antara lain memenuhi kebutuhan logam timah dalam negeri dan mengoptimalkan suplai logam di pasar Amerika, Eropa, dan Asia.

(16)

Daily News Update Page 16 The issuer based in Bangka Belitung has

allocated a capital expenditure (cepex) of approximately Rp. 1.9 trillion in 2021. This number is up from last year's capex allocation of only Rp. 1.5 trillion.

In research published on May 10, 2021, Ciptadana Sekuritas Asia analyst Thomas Radityo maintains a buy recommendation for TINS shares with a lower target price of Rp 2,000. Risks from the lower price target are higher tin prices, higher-than-expected operational performance, which results in higher sales volume and better-than-expected cost efficiency.

This year, TINS is projected to earn Rp 12.13 trillion in revenue with a net profit of Rp 69 billion.

Emiten yang berbasis di Bangka Belitung ini mengalokasikan belanja modal atau capital expenditure sebesar kurang lebih Rp1,9 triliun di tahun 2021. Jumlah ini naik dari alokasi capex tahun lalu yang hanya Rp1,5 triliun. Dalam riset yang dipublikasikan pada 10 Mei 2021, Analis Ciptadana Sekuritas Asia Thomas Radityo mempertahankan rekomendasi beli untuk saham TINS dengan target harga yang lebih rendah yakni Rp 2.000. Risiko dari target harga yang lebih rendah tersebut yakni kenaikan harga timah, kinerja operasional yang lebih tinggi dari perkiraan, yang meng-hasilkan volume penjualan yang lebih tinggi serta efisiensi biaya yang lebih baik dari perkiraan.

Tahun ini, TINS diproyeksi bakal meraup pendapatan sebesar Rp 12,13 triliun dengan laba bersih sebesar Rp 69 miliar.

Minister of Trade: RI Committed

to Increase the Added Value of

the Mining Sector

Fetry Wuryasti | Economy

M

INISTER of Trade Muhammad Lutfi conveyed Indonesia's commitment to increase the added value of the mining sector. The commitment was conveyed during a virtual meeting with members of the United States-Asia Pacific Economic Cooperation (US-APEC) Business Coalition. The meeting was opened by the Chairman, as well as President and CEO of the US-APEC Business Coalition Alexander Feldman, and was attended by 33 members of the US-APEC Business Coalition.

Mendag: RI Komitmen

Tingkatkan Nilai Tambah Sektor

Pertambangan

Fetry Wuryasti | Ekonomi

M

ENTERI Perdagangan Muhammad Lutfi menyampaikan komitmen Indonesia untuk meningkatkan nilai tambah sektor pertambangan. Komitmen itu disampaikan saat bertemu dengan anggota United States-Asia Pacific Economic Cooperation (US-APEC) Business Coalition secara virtual.

Pertemuan tersebut dibuka oleh Ketua, sekaligus Presiden dan CEO US-APEC Business Coalition Alexander Feldman, serta dihadiri 33 anggota US-APEC Business Coalition.

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Daily News Update Page 17 Meanwhile, Trade Minister Lutfi was

accompanied by Director General of International Trade Negotiations Djatmiko Bris Witjaksono, Director of APEC Nego-tiations and International Organizations Farid Amir, and Trade Attache Washington Wijayanto.

“A number of strategic issues to enhance bilateral cooperation between the two countries were discussed at the meeting. One of them is Indonesia's commitment to increase the added value of export commodities in the mining sector, such as battery products for electric vehicles," said Trade Minister Lutfi.

Other things discussed at the meeting were various priority issues in the 18th Trade and Investment Framework Agreement (TIFA) agenda which is planned to take place in August 2021. Lutfi and the US APEC Business Coalition also discussed the distribution of vaccines in overcoming the Covid-19 pandemic.

"We see the importance of cooperation in the distribution of vaccines because it can accelerate economic growth and recovery due to the Covid-19 pandemic," added Lutfi.

According to Lutfi, the US is one of the important trading partners for Indonesia, as well as Indonesia for the US. The value of Indonesia-US trade in the January-April 2021 period was recorded at US$10.87 billion.

Indonesia's exports to the US were recorded at US$7.63 billion. Indonesia's imports from the US were recorded at US$3.23 billion. Meanwhile, in 2020, the total value of Indonesia-US trade was recorded at US$ 8.98 billion.

Indonesia's exports to the US in the same period were recorded at US$6.12 billion. Meanwhile, Indonesia's imports from the US amounted to US$2.85 billion.

Sementara itu, Mendag Lutfi didampingi Direktur Jenderal Perundingan Perda-gangan Internasional Djatmiko Bris Witjaksono, Direktur Perundingan APEC dan Organisasi Internasional Farid Amir, dan Atase Perdagangan Washington Wijayanto.

“Sejumlah isu strategis untuk mening-katkan kerja sama bilateral kedua negara dibahas dalam pertemuan tersebut. Salah satunya, komitmen Indonesia dalam meningkatkan nilai tambah komoditas ekspor di sektor pertambangan, seperti produk baterai untuk kendaraan elektrik,” ujar Mendag Lutfi.

Hal lain yang dibahas pada pertemuan tersebut, yaitu berbagai isu prioritas dalam agenda Trade and Investment Framework Agreement (TIFA) ke-18 yang rencananya berlangsung pada Agustus 2021. Lutfi dan US APEC Business Coalition juga mem-bahas pendistribusian vaksin dalam mengatasi pandemi Covid-19.

“Kami memandang penting kerja sama dalam pendistribusian vaksin karena dapat mempercepat pertumbuhan dan pemu-lihan ekonomi akibat pandemi Covid-19,” imbuh Lutfi.

Menurut Lutfi, AS merupakan salah satu mitra dagang penting bagi Indonesia, begitu pula Indonesia bagi AS. Nilai perdagangan Indonesia-AS pada periode Januari-April 2021 tercatat sebesar US$ 10,87 miliar.

Ekspor Indonesia ke AS tercatat sebesar US$7,63 miliar. Impor Indonesia dari AS tercatat sebesar US$3,23 miliar. Sementara pada 2020, nilai total perdagangan Indonesia-AS tercatat sebesar US$8,98 miliar.

Ekspor Indonesia ke AS pada periode yang sama tercatat sebesar US$6,12 miliar. Sedangkan, impor Indonesia dari AS sebesar US$2,85 miliar.

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Daily News Update Page 18 In addition, the US is in the top 10

Indonesian investors. The US investment value to Indonesia in 2020 was recorded at US$480.1 million. (OL-2)

Selain itu, AS merupakan 10 besar investor Indonesia. Nilai investasi AS ke Indonesia pada 2020 tercatat sebesar US$480,1 juta. (OL-2)

Coal prices are difficult to shake

even though many have been

thwarted

Tirta, CNBC Indonesia

M

ANY acts of tackling coal because it is claimed that it is not environmentally friendly do not necessarily make the price of the stone fall freely. Supported by strong fundamentals, coal prices even crawled up again.

After the rich countries that are members of the G7, now it's China's turn as the world's largest coal consumer to act. China seeks to reduce carbon emissions. One of them is by canceling the investment in foreign coal-fired power plant capacity. "The amount of capacity canceled since 2017 is 4.5 times higher than the amount that went into construction during that period," Reuters wrote, based on research by the Center for Clean Energy and Air Research (Crea).

Crea said since 2016, the top 10 banks involved in global coal financing have been Chinese. About 12% of all coal-fired power plants operating outside China can be attributed to Chinese banks, utilities, equipment manufacturers and construc-tion companies.

But although 80 gigawatts of China-backed capacity are still a work in progress, many projects could face further setbacks.

Harga Batu Bara Sulit Goyang

Walau Dijegal di Sana-sini

Tirta, CNBC Indonesia

R

AMAI-ramai aksi menjegal batu bara karena diklaim tak ramah lingkungan tak lantas membuat harga si batu legam terjun bebas. Didukung dengan fundamental yang kuat harga batu bara malah merangkak naik lagi.

Setelah negara-negara kaya yang tergabung dalam G7, kini giliran China sebagai konsumen batu bara terbesar di dunia yang beraksi. China berupaya untuk mengurangi emisi karbon. Salah satunya dengan cara mebatalkan investasi kapasitas pembangkit listrik tenaga batu bara luar negeri.

"Jumlah kapasitas yang dibatalkan sejak 2017 adalah 4,5 kali lebih tinggi dari jumlah yang masuk ke konstruksi selama periode tersebut," tulis Reuters berdasarkan riset Pusat Penelitian Energi dan Udara Bersih (Crea).

Crea mengatakan sejak 2016, 10 bank teratas yang terlibat dalam pembiayaan batu bara global adalah orang China. Sekitar 12% dari semua pembangkit listrik batu bara yang beroperasi di luar China dapat dikaitkan dengan bank, utilitas, produsen peralatan, dan perusahaan konstruksi China.

Tetapi meskipun 80 gigawatt kapasitas yang didukung China masih dalam proses, banyak proyek dapat menghadapi kemunduran lebih lanjut.

(19)

Daily News Update Page 19 The report claims this is due to increased

public resistance and financing is becoming more difficult.

China is indeed developing policies that will allow it to bring its greenhouse gas emissions from their peak in 2030 and become carbon neutral by 2060. Xi Jinping said in April that he would start cutting coal consumption by 2026.

However, in reality, coal prices closed up 2% in yesterday's trading. The contract price of ICE Newcastle thermal coal which is actively traded in the market is now at US$ 122.1/ton.

However, the transition from coal to more environmentally friendly energy is not an easy matter. For western countries such as the US and Europe, consumption continues to decline.

However, for countries in Asia, especially developing countries, coal is still one of the more affordable fuels. Switching from coal to a more sustainable alternative energy takes time and a big investment.

In the current crisis, many countries are taking advantage of the momentum to reform their energy policies. However, the coal market in the Asia Pacific region remains strong, supported by rising demand from consumer countries such as China, Japan and South Korea. CNBC INDONESIA RESEARCH TEAM (twg/twg)

Laporan itu mengklaim hal tersebut akibat perlawanan public yang meningkat dan pem-biayaan menjadi lebih sulit.

China memang sedang menyusun kebijakan yang memungkinkannya membawa emisi gas rumah kaca dari puncaknya di 2030 dan men-jadi netral karbon pada tahun 2060. Xi Jinping pada April sempat mengatakan akan mulai memotong konsumsi batu bara hingga 2026. Namun kenyataannya harga batu bara malah ditutup menguat 2% pada perdagangan kemarin. Harga kontrak batu bara termal ICE Newcastle yang aktif diperdagangkan di pasar kini berada di US$ 122,1/ton.

Bagaimanapun juga peralihan dari batu bara ke energi yang lebih ramah lingkungan bukan persoalan mudah. Bagi negara-negara barat seperti AS dan Eropa memang konsumsinya terus menurun.

Namun bagi negara-negara di kawasan Asia terutama negara berkembangnya batu bara masih menjadi salah satu bahan bakar yang lebih terjangkau. Beralih dari batu bara ke energi alternatif yang lebih sustainable butuh waktu dan investasi yang besar.

Dalam kondisi krisis seperti sekarang ini banyak negara yang memanfaatkan momentum untuk mereformasi kebijakan energinya. Namun tetap saja pasar batu bara di kawasan Asia Pasifik tetap kuat didukung dengan kenaikan permintaan negara-negara konsumen seperti China, Jepang dan Korea Selatan. TIM RISET CNBC INDONESIA (twg/twg)

Serbia to become Europe’s no. 2 copper producer thanks to Cukaru

Peki mine

Cecilia Jamasmie

C

HINA-backed Serbia Zijin Mining, a wholly-owned subsidiary of Zijin, has obtained a permit from the Serbian government to start mining activities at the Cukaru Peki copper and gold mine, part of the Timok project, in the country’s east.

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Daily News Update Page 20 The country’s mining ministry said Serbia would become Europe’s second-largest copper producer once the mine kicks off operations, See News reported.

Cukaru Peki was originally slated to begin production in the summer of 2021, with an initial average copper output of 91,000 tonnes a year and annual gold production of about 200,000 ounces.

The mine is now expected to start production in the fourth quarter of this year, gradually incrementing output until reaching a peak 135,000 tonnes of copper a year.

Sebia’s government anticipates the country’s booming mining sector will start generating between 4% and 5% of its total GDP in less than 10 years, a significant increase from its current 2%.

Zijin’s local subsidiary currently operates the country’s sole copper complex – RTB Bor. The company had to temporarily halt work at the mine in April due to alleged breach of the country’s environmental standards.

The unit was ordered to complete a wastewater treatment plant on priority at the mine to avoid polluting the River Pek, a tributary of the Danube.

Key market

Serbia Zijin Copper has committed to invest $408 million this year, up from $360 million in 2020, to overhaul and expand its four mines and a smelter.

The plan also includes improving environmental protection in the heavily polluted Bor region, in Serbia’s east.

China has spent billions of euros in Serbia, mostly in the form of soft loans to finance highway and energy projects. The investments are part of Beijing’s so-called belt and road initiative to open new foreign trade links for local companies.

Whitehaven amends production expectations

By: Esmarie Iannucci, Creamer Media Senior Deputy Editor: Australasia

C

OAL miner Whitehaven Coal has lowered its run-of-mine (ROM) production expectations for the full 2021 financial year, on the back of planned downtime at its Narrabri mine, in New South Wales.

Full year ROM production is now expected to reach 20.4-million tonnes, down from the previous estimate of between 20.6-million and 21.4-million tonnes.

Production at Narrabri is expected to reach 4.1-million tonnes during the full year, while the Maules Creek operation is likely to contribute 12.5-million tonnes, and the Gunnedah opencuts to contribute a further 3.8-million tonnes.

Managed coal sales guidance have declined from the previous 17.8-million to 18.3-million target, to 17.9-million tonnes, while unit costs are expected to reach A$74/t.

(21)

Daily News Update Page 21 Whitehaven told shareholders that the ROM production was adjusted to take into account the downtime associated with the acceleration of engineering works at Narrabri to support the longwall operation, as well as a recent geological event.

Overhaul works on the longwall and machinery repairs will be completed in the coming days.

Russia's Nornickel uses digital tokens to fight illegal mining and

trafficking of minerals

By Vladimir Basov

R

USSIAN mining giant Nornickel, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, said that use of smart contracts in the company's trading operations, where digital tokens are backed by the metals produced by the company, could help to fight illegal mining and trafficking of minerals, among other measures. Nornickel delivered its suggestions during a roundtable dedicated to the fight against crime in the field of mining and circulation of minerals and precious metals. The event was initiated by the Organization for Economic Cooperation and Development, the World Customs Organization and the United Nations Office on Drugs and Crime. The Russian side was represented by Nornickel.

Along with the discussion of the problems of illegal mining and trafficking of minerals, a special attention was paid to the topic of using digital solutions to facilitate investigations in this area, the company said.

The report of the United Nations Interregional Crime and Justice Research Institute (UNICRI) specifically noted Nornickel's longstanding activity in the development of a project to create a global database of products containing platinum group metals, in partnership with South African companies.

According to Dmitry Grigoriev, Director of the Information Protection and IT Infrastructure Department at Nornickel, such an assessment is a recognition of the company's efforts in the field of development of effective modern tools to combat illegal trafficking in precious metals. He also noted that Nornickel's unique comprehensive methodology aimed at identification of samples of products containing platinum group metals was highly appreciated by specialists and included in the UNICRI report titled "Technology and Security: Countering criminal interference in legitimate supply chains" as one of the most effective technologies.

"In addition, among the promising solutions, the study indicates the use of smart contracts by Nornickel in trading operations where tokens are backed by the metals produced by the company. In the context of the rapid digitalization of all production and technological processes, the company's developments show their relevance and receive international recognition," added Grigoriev.

(22)

Adani blasted over ‘toxic’ $4bn plan to use Australian coal to make

plastic in India

Owners of Queensland’s controversial Carmichael mine say plant will use 3.1m tonnes of

coal a year to make PVC

Supported by Graham Readfearn

T

HE OWNERS of the controversial Carmichael mine in Queensland want to build a US$4bn plant in India that would use Australian coal to make plastic.

Adani Enterprises, which owns the Carmichael coalmine, said in submissions to Indian authorities the plant will use 3.1m tonnes of coal a year at the plant to make PVC.

Critics said the “toxic” project was an attempt to find a second life for thermal coal at a time when the world was moving away from fossil fuels.

The company is seeking environmental clearances to build the massive “coal-to-PVC” plant that will take up almost 3 sq km in Mundra, Gujarat..

Adani, which has rebranded in Australia to Bravus Mining and Resources, has begun construction on its Carmichael thermal coalmine in Queensland’s Galilee basin. The divisive mine has been one of the most controversial resources projects in Australian history.

In the submission, Adani Enterprises says the “coal to PVC project” will cost US$4bn (AU$5.2bn) and would use 3.1 Mt of coal imported “mainly from Australia, Russia and other countries”.

The plant would use a highly complex process to produce two million tonnes of polyvinyl chloride (PVC) a year.

Supporters of Adani’s Queensland coalmine have argued the exported coal would be used to produce electricity in power plants and would help lift people out of energy poverty in developing countries such as India and Bangladesh.

Until now, there has never been a suggestion that exported coal from the Galilee basin would be used for anything other than power generation.

Guardian asked Bravus about the proposal and if the coal for the project would be sourced from the Carmichael mine.

In a statement, Bravus said: “India will be a foundation customer for the Carmichael project and is the fourth-largest global user of electricity as well as the source of the biggest growth in global energy demand.

“We have already secured the market for the 10 million tonne per annum of coal produced at the Carmichael mine.

“The coal will be sold at index pricing and we will not be engaging in transfer pricing practices, which means that all of our taxes and royalties will be paid here in Australia.”

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Daily News Update Page 23 Pablo Brait, a campaigner at Market Forces that is pushing investors to pull money out of the Carmichael project, said: “The argument that Carmichael was going to help poor people was never valid in the first place.

“Renewable energy is cheaper and if you want to ensure affordability of electricity then you are better using renewables rather than imported coal.

“This is Adani creating new uses for thermal coal instead of transitioning out of thermal coal. That’s important for investors in the Adani group to know.

“This is a company that is not winding down its thermal coal use, but trying to find new ways to use a resource and avoid Carmichael turning into a stranded asset.”

In its submission, Adani enterprises said the coal will go through several stages of processing, creating calcium carbide and then acetylene, which is further processed to eventually produce PVC.

Adani said India’s demand for PVC is outgrowing supply and is dependant on imports.

Simon Nicholas, an energy finance analyst at the pro-renewables Institute for Energy Economics and Financial Analysis, said there were some projects proposed in China and Pakistan that were looking to find alternative uses for coal, in particular coal-to-diesel and coal-to-fertilisers.

But he said these used cheaper domestic coal, not imported coal, and were government subsidised.

“It’s very expensive to use domestic coal. This does seem to look like a project that’s being proposed to prop up their Carmichael mine.”

Environmental campaign group SumOfUs has launched a petition to pressure Adani’s financial backers to withdraw from the group over the coal-to-plastics project.

The group claimed the coal-to-plastics process was emissions intensive, and described the plans as toxic.

Canada’s Coal Association responds to Ottawa’s thermal coal mine

ban

Henry Lazenby

T

HE COAL Association of Canada says Ottawa’s recent ban on new thermal coal mining projects or plans to expand existing mines on environmental damage grounds will lead to the market gap left being filled with inferior-quality coal from elsewhere.

According to the association’s president, Robin Campbell, Canadian thermal coal is considered extremely high quality and has a low sulphur content relative to world standards.

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Daily News Update Page 24 “The loss of coal from Canada will likely be replaced by production from other countries that do not have the same commitment to our high standards,” he said in a statement in response to the federal announcement on June 11.

In announcing the new policy measure, Environment Minister Jonathan Wilkinson said the power-making bulk product was the single most significant contributor to climate change. “The continued mining of and use of thermal coal for energy production energy in the world runs counter to what is needed to effectively combat climate change and seize the economic opportunities that it presents,” said Wilkinson.

A breakdown of global coal use. (Credit: Natural Resources Canada)

The policy is in line with regulations unveiled in 2018 by the Canadian government to phase out traditional coal-fired electricity by 2030.

Government data ranks Canada as the world’s fourth-largest exporter of metallurgical or steel-making coal at 57 million tonnes in 2019, of which 37 million tonnes were exported, and a further eight million tonnes were imported. Alberta and British Columbia produced 83% of Canada’s met coal, comprising 47% thermal coal and 53% metallurgical coal.

Canada’s declining coal production profile from 2009 to 2019. Credit: Natural Resources Canada

The Coal Association says it supports sustainable climate change goals. Still, it is concerned the policy does not reflect “the significant progress” that is being made on carbon capture, storage and use (CCSU) technology.

“We are already seeing positive results from CCSU technology in Canada, and this can allow coal to remain an affordable part of the energy mix while meeting climate goals. Today, coal still powers over one-third of global electricity generation, and this is expected to continue until at least 2040,” says Campbell.

The association also says it “understands and acknowledges” concerns about downstream selenium contamination from major coal mines.

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Daily News Update Page 25 “The industry has, and will continue to adopt, a ‘multiple line of defence’ approach that is part of the mine design process. We are confident these approaches will satisfy both provincial and federal requirements,” says Campbell.

Downstream from British Columbia and Alberta’s coal mines, lawmakers in Montana, in the US, had recently taken action seeking to reduce the permissible selenium levels including in the Kootenai River and Lake Koocanusa, which straddles the Montana-BC border.

The rulemaking follows a damning report by the US Environmental Protection Agency in September 2019, pointing to Teck Resources’ Elk Valley coal mines as the source of elevated selenium levels in downstream watercourses.

The association will provide more detailed analysis and recommendations on selenium management via an expert report prepared by Guy Gilron and Gord McKenna dated June 7. The report will be appended to the association’s pending submission to Alberta’s Coal Policy Committee in the coming days.

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