TABLE OF CONTENTS. No. Title Media Source Page

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Daily News Update Page 1

On the other hand, sales of nickel ore throughout 2020 amounted to 3.29 million wmt, down 56.39% from the realization in 2019 which reached 7.55 million wmt. Last year, this member of the Kompas100 index recorded the total volume of unaudited gold production from the Pongkor and Cibaliung mines of 1,672 kilograms (Kg) or the equivalent of 53,756 troi ounces. This production volume decreased by 14.7% from 2019 which reached 1,962 kg or 63,080 troi ounces. Meanwhile, ANTM's unaudited gold sales volume over the past year was recorded at 21,797 kg or the equivalent of 700,789 troi ounces. This sales figure decreased 35.9% from the realization of the full year 2019 which reached 34,016 kg or 1.09 million troi ounces.

Last year, ANTM focused on developing a customer base for precious metals in the domestic market, in line with the increasing public awareness of investing. For silver commodities, ANTM produces 11,992 kg or the equivalent of 385,552 troi ounces, down 27.13% from the realization of production in 2019 which reached 16,458 kg or the equivalent of 529,137 troi ounces. Meanwhile, from the sales side, ANTM sold 14,589 kg of silver, down 27.90% from 2019 which reached 20,235 kg.

ANTM is noted to have produced bauxite used in alumina production of 1.55 million wet metric tons (wmt) throughout 2020, a decrease of 10.02% from bauxite production in the same period the previous year which reached 1.72 million wmt.

Adapun sepanjang 2020, volume produksi bijih nikel unaudited yang digunakan sebagai bahan baku feronikel ANTM dan pelanggan domestik tercatat sebesar 4,76 juta wmt, menurun 45,2% dari tahun sebelumnya yakni 8,69 juta wmt.

Di sisi lain, penjualan bijih nikel sepanjang 2020 sebesar 3.29 juta wmt atau turun 56,39% dari realisasi tahun 2019 yang mencapai 7.55 juta wmt.

Tahun lalu, anggota indeks Kompas100 ini, mencatatkan total volume pr oduksi unaudited emas dari Tambang Pongkor dan Cibaliung sebesar 1.672 kilogram (Kg) atau setara 53.756 ons troi. Volume produksi ini turun 14,7% dari tahun 2019 yang mencapai 1.962 Kg atau 63.080 ons troi. Sementara itu, volume penjualan unaudited emas ANTM sepanjang tahun lalu tercatat sebesar 21.797 kg atau setara 700.789 ons troi. Angka penjualan ini menurun 35,9% dari realisasi full year 2019 yang mencapai 34.016 kg atau 1.09 juta ons troi.

Adapun tahun lalu ANTM berfokus dalam pengembangan basis pelanggan logam mulia di pasar dalam negeri, seiring dengan meningkatnya kesadaran masyarakat dalam berinvestasi.

Untuk komoditas perak, ANTM mem-produksi 11.992 Kg atau setara 385.552 ons troi, turun 27,13% dari realisasi produksi tahun 2019 yang mencapai 16.458 Kg atau setara 529.137 ons troi. Sementara dari sisi penjualan, ANTM menjual 14.589 Kg perak atau turun 27,90% dari tahun 2019 yang mencapai 20.235 Kg.

ANTM tercatat memproduksi bauksit yang digunakan dalam produksi alumina sebesar 1,55 juta wet metrik ton (wmt) sepanjang 2020, menurun 10,02% dari produksi bauksit di periode yang sama tahun sebelumnya yang mencapai 1.72 juta wmt.

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Meanwhile, bauxite sales also decreased, from the previous 1.69 million wmt in 2019 to 1.22 million wmt in 2020.

For alumina products, ANTM recorded a sales increase of 17.4% from 70,527 tonnes in 2019 to 82,785 tonnes in 2020. However, ANTM's alumina production in 2020 has decreased, from 104,537 tonnes to 92,606 tonnes in 2020.

Sementara penjualan bauksit juga menurun, dari sebelumnya 1,69 juta wmt di 2019 menjadi 1,22 juta wmt di 2020. Pada produk alumina, ANTM mencatatkan kenaikan penjualan sebesar 17,4% dari sebelumnya 70.527 ton di 2019 menjadi 82.785 ton di 2020. Namun, produksi alumina ANTM di 2020 mengalami penurunan, dari 104.537 ton menjadi 92.606 ton di 2020.

Due to the Flood, Arutmin is

also constrained by supplying

coal to PLN

Anisatul Umah, CNBC Indonesia

T

HE HIGH rainfall and flooding that occurred in South Kalimantan (Kalsel) made the supply of coal for PT PLN (Persero)'s Steam Power Plant (PLTU), the majority of which was in Java, hampered. One of the coal mining companies operating in South Kalimantan is PT Arutmin Indonesia. General Manager of Legal and External Affairs of PT Arutmin Indonesia Ezra Sibarani admitted that the impact of this bad weather also hampered Arutmin's coal operations and distribution activities, including distribution to PLN power plants.

"Distribution is a bit constrained due to a combination of constraints related to access, supply distribution and weather," he told CNBC Indonesia, Monday (01/02/ 2021).

In terms of operations, Arutmin mining which uses the open pit method, according to him, is very affected when there is high rainfall. In order to reduce...

Gegara Banjir, Arutmin Juga

Terkendala Pasok Batu Bara ke

PLN

Anisatul Umah, CNBC Indonesia

T

INGGINYA curah hujan dan banjir yang terjadi di Kalimantan Selatan (Kalsel) mem-buat suplai batu bara untuk Pembangkit Listrik Tenaga Uap (PLTU) PT PLN (Persero) yang mayoritas berada di Pulau Jawa menjadi terkendala.

Salah satu perusahaan tambang batu bara yang beroperasi di Kalsel adalah PT Arutmin Indonesia. General Manager Legal and External Affairs PT Arutmin Indonesia Ezra Sibarani mengakui dampak dari cuaca buruk ini turut membuat kegiatan operasi dan distribusi batubara Arutmin terkendala, ter-masuk distribusi ke pembangkit listrik PLN. "Distribusi sedikit terkendala karena gabungan kendala terkait akses, distribusi suplai, dan cuaca," ungkapnya kepada CNBC Indonesia, Senin (01/02/2021).

Dari sisi operasi, penambangan Arutmin yang menggunakan metode tambang buka (Open Pit) menurutnya sangat ter-dampak bila terjadi curah hujan yang tinggi. Demi menekan dampak...

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In order to reduce the impact on mining operations, his party continues to carry out pumping activities.

"So, we are responding to the addition of pumping activities. But it does not stop operations," he explained.

Even though the distribution is still constrained to date, according to him, it is better. According to him, the time needed for coal distribution between regions varies, depending on the location. In good weather it usually takes 4-7 days, but in bad weather according to him it can take up to 14 days.

"It depends on the weather and traffic on the unloading port too. If the weather is not good, it could be two weeks," he explained.

Ezra said that Arutmin is currently working on efforts to accelerate recovery so that coal supply to PT PLN (Persero) can recover.

"We are currently still making efforts to accelerate recovery from the effects of floods and weather. Hopefully, the supply to PLN can recover," he hoped.

Last week, Director General of Mineral and Coal at the Ministry of Energy and Mineral Resources, Ridwan Djamaluddin, said that based on a report from PLN, the coal stock for PLN's power plants was only sufficient for five days. Typically, PLN's coal stocks can reach around 15 days and private power developers (IPP) around 20-25 days.

This is due to the impact of flooding in South Kalimantan two weeks ago which had an impact on coal distribution. As is known, based on data from the Ministry of ESDM, there are 212 Mining Business Permit (IUP) holders, including coal in this area.

Demi menekan dampak pada kegiatan operasional tambang, pihaknya terus melakukan kegiatan pemompaan.

"Sehingga, kita sikapi dengan penambahan kegiatan pemompaan. Tetapi tidak sampai menghentikan kegiatan operasi," jelasnya. Meski distribusi sampai saat ini masih terkendala, namun menurutnya sudah lebih baik. Waktu yang dibutuhkan untuk distri-busi batubara antar wilayah menurutnya bervariasi, tergantung lokasinya. Dalam cuaca yang baik biasanya memakan waktu 4-7 hari, namun dalam cuaca buruk menurutnya bisa mencapai 14 hari.

"Tergantung cuaca dan traffic di unloading port juga. Kalau cuaca tidak baik, bisa dua mingguan," paparnya.

Ezra menyebut saat ini Arutmin sedang berupaya melakukan upaya percepatan pemulihan agar suplai batu bara ke PT PLN (Persero) bisa kembali pulih.

"Kita saat ini masih melakukan upaya percepatan pemulihan dari dampak banjir dan cuaca. Semoga suplai ke PLN bisa pulih," harapnya.

Pada pekan lalu, Direktur Jenderal Mineral dan Batu Bara Kementerian Energi dan Sumber Daya Mineral Ridwan Djamaluddin mengatakan berdasarkan laporan dari PLN, stok batu bara untuk pembangkit listrik PLN hanya cukup untuk lima hari. Biasanya, stok batu bara PLN bisa mencapai sekitar 15 hari dan pengembang listrik swasta (Independent Power Producer/IPP) men-capai sekitar 20-25 hari.

Hal ini karena imbas terjadinya banjir di Kalsel pada dua pekan lalu yang berdampak pada distribusi batu bara. Seperti diketahui, berdasarkan data Kementerian ESDM, terdapat 212 pemegang Izin Usaha Pertambangan (IUP), termasuk batu bara di daerah ini.

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"In the last meeting yesterday, I asked about yesterday's supply, how many days are available? The Primary Energy Director of PLN replied, until now it's been five days," Ridwan said during a press conference, Wednesday (27/01/2021). However, he continued, his party will prioritize and strive for PLN power plants to continue running normally.

"Our priority is to prioritize PLN's electricity not to die," he added.

The Director General of Electricity at the Ministry of Energy and Mineral Resources (ESDM) Rida Mulyana said the same thing. Rida emphasized that electricity will continue to run even though there is a disruption in coal supply.

"Will the electricity go out? No, God willing, there will be no blackout. There is no shortage of electricity supply. Our job is to ensure that electricity remains on," he said during a press conference, Wednesday (27/01/2021).

Likewise, until February, March, and so on, according to him, his party will still ensure that the community will not experience a shortage of electricity supply.

In February, he continued, even though PLN needed an additional supply of coal of 1.2 million tons, coal producers had committed to continue supplying coal to PLN.

"I am sure that in February there will be no crisis like that, meaning that the electricity will continue," he said. (wia)

"Dalam rapat terakhir kemarin, saya sudah tanya pasokan kemarin, tersedia berapa hari? dijawab Direktur Energi Primer PLN, sampai saat ini lima hari," ungkap Ridwan saat konferensi pers, Rabu (27/01/2021). Namun demikian, lanjutnya, pihaknya akan memprioritaskan dan mengupayakan agar pembangkit listrik PLN tetap berjalan normal.

"Prioritas kami, utamakan listrik PLN nggak mati," imbuhnya.

Hal senada diungkapkan Direktur Jenderal Ketenagalistrikan Kementerian Energi dan Sumber Daya Mineral (ESDM) Rida Mulyana. Rida menegaskan listrik akan tetap menyala meski ada gangguan suplai batu bara.

"Apakah listrik bakal padam? Nggak, Insya Allah nggak ada pemadaman listrik. Nggak ada kekurangan pasokan listrik. Tugas kita menjamin listrik tetap menyala," tuturnya saat konferensi pers, Rabu (27/01/2021). Begitu pun hingga Februari, Maret, dan seterusnya, menurutnya pihaknya tetap akan memastikan masyarakat tidak akan mengalami kekurangan pasokan listrik. Pada Februari, lanjutnya, meski PLN memerlukan tambahan pasokan batu bara sebanyak 1,2 juta ton, para produsen batu bara sudah berkomitmen untuk tetap memasok batu bara ke PLN.

"Saya yakin Februari tidak akan ada krisis seperti itu, artinya listrik nyala terus," ujarnya. (wia)

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Most of the Commodity Prices

Have Increased, Here's the List

Shifa Nurhaliza

U

NTIL the end of January 2021, the prices of several mining product commodities showed a continuing positive trend and succeeded in increasing demand and supply on world markets.

This condition affects the determination of the Export Standard Price (HPE) of mining products subject to Export Duty (BK) for the period February 2021. This provision is stipulated in the Regulation of the Minister of Trade Number 06 Year 2021, January 26, 2021.

"HPE for mining products for the February 2021 period experienced fluctuations, including copper concentrate, iron concentrate, laterite iron concentrate, manganese concentrate, iron sand concentrate, ilmenite concentrate and rutile concentrate, which experienced an increase compared to the previous month," said the Director General of Foreign Trade, Didi Sumedi, in his official statement in Jakarta, Saturday (30/1/2021).

Prices of several mining product commo-dities have increased due to increased world demand. Meanwhile, for the leached lead concentrate, zinc and bauxite concentrate commodities experienced a decline in prices. Meanwhile, iron sand concentrate pellets did not change.

A number of mining products subject to BK are copper concentrate, iron concentrate, laterite iron concentrate, iron sand concentrate, iron sand concentrate pellet, manganese concentrate, lead concentrate, zinc concentrate, ilmenite concentrate, rutile concentrate, and washed bauxite.

Sebagian Besar Harga Komoditas

Alami Kenaikan, Berikut Daftarnya

Shifa Nurhaliza

H

INGGA periode akhir Januari 2021, harga beberapa komoditas produk pertambangan menunjukkan tren positif yang terus berlanjut dan berhasil meningkatkan per-mintaan dan penawaran di pasar dunia. Kondisi ini mempengaruhi penetapan Harga Patokan Ekspor (HPE) produk pertam-bangan yang dikenakan Bea Keluar (BK) untuk periode Februari 2021. Ketentuan ini ditetapkan dalam Peraturan Menteri Perda-gangan Nomor 06 Tahun 2021, tanggal 26 Januari 2021.

“HPE produk pertambangan periode Februari

2021 mengalami fluktuasi, di antaranya komoditas konsentrat tembaga, konsentrat besi, konsentrat besi laterit, konsentrat mangan, konsentrat pasir besi, konsentrat ilmenite, dan konsetrat rutil mengalami

kenaikan dibandingkan periode bulan lalu," ujar Direktur Jenderal Perdagangan Luar Negeri Didi Sumedi, dalam keterangan resmi-nya di Jakarta, Sabtu (30/1/2021).

Harga beberapa komoditas produk pertam-bangan yang mengalami kenaikan dikarena-kan adanya permintaan dunia yang mening-kat. Sementara untuk komoditas konsentrat timbal, konsetrat seng dan bauksit yang telah dilakukan pencucian mengalami penurunan harga. Sedangkan untuk pellet konsentrat pasir besi tidak mengalami perubahan.

Sejumlah produk pertambangan yang dikenakan BK adalah konsentrat tembaga, konsentrat besi, konsentrat besi laterit, konsentrat pasir besi, pellet konsentrat pasir besi, konsentrat mangan, konsentrat timbal, konsentrat seng, konsentrat ilmenit, konsentrat rutil, dan bauksit yang telah dilakukan pencucian.

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HPE base price calculations for iron concentrate, laterite iron concentrate, iron sand concentrate, manganese concentrate, ilmenite concentrate and rutile concentrate are sourced from Asian Metal and Iron Ore Fine Australian.

Meanwhile, copper concentrate, iron sand concentrate pellets, lead concentrate, zinc concentrate, and bauxite are sourced from the London Metal Exchange (LME).

Compared to the previous period, mining products that experienced an average price increase in the February 2021 period were copper concentrate (Cu ≥ 15%) with an average price of USD3,111.97/WE or an increase of 3.45%, iron concentrate (hematite, magnetite) (Fe ≥ 62% and ≤ 1% TiO2) with an average price of USD148.03/ WE or an increase of 19.34%.

Furthermore, laterite iron concentrates (gutite, hematite, magnetite) with levels (Fe ≥ 50% and (Al2O3 + SiO2) ≥ 10%) with an average price of USD75.64/WE or an increase of 19.34%.

Then, manganese concentrate (Mn ≥ 49%) with an average price of USD208.00/WE or an increase of 2.52%; iron sand concentrate (lamella magnetite-ilmenite) (Fe ≥ 56%) with an average price of USD 88.39/WE or an increase of 19.34%; ilmenite concentrate (TiO2 ≥ 45%) with an average price of USD 339.00/WE or an increase of 4.26%; and rutile concentrate (TiO2 ≥ 90%) with an average price of USD 926.52/WE or an increase of 6.16%.

Meanwhile, the products that had decreased compared to the HPE in the previous period were lead concentrate (Pb ≥ 56%) with an average price of USD 818.19/WE or a decrease of 2.72%; zinc concentrate (Zn ≥ 51%) with an average price of USD 750.92/WE or a decrease of 0.60%; and washed bauxite (Al2O3 ≥ 42%) with an average price of USD 27.09/WE or a decrease of 0.18%.

Perhitungan harga dasar HPE untuk komoditas konsentrat besi, konsentrat besi laterit, konsentrat pasir besi, konsentrat mangan, konsentrat ilmenit, dan konsentrat rutil bersumber dari Asian Metal dan Iron Ore Fine Australian.

Sedangkan konsentrat tembaga, pellet konsentrat pasir besi, konsentrat timbal, konsentrat seng, dan bauksit bersumber dari London Metal Exchange (LME).

Dibandingkan periode sebelumnya, produk pertambangan yang mengalami kenaikan harga rata-rata pada periode Februari 2021 adalah konsentrat tembaga (Cu ≥ 15%) dengan harga ratarata sebesar USD3.111,97 /WE atau naik sebesar 3,45%, konsentrat besi (hematit, magnetit) (Fe ≥ 62% dan ≤ 1% TiO2) dengan harga rata-rata sebesar USD148,03/WE atau naik sebesar 19,34%. Selanjutnya, konsentrat besi laterit (gutit, hematit, magnetit) dengan kadar (Fe ≥ 50% dan (Al2O3 + SiO2) ≥ 10%) dengan harga rata-rata sebesar USD75,64/WE atau naik sebesar 19,34%.

Kemudian, konsentrat mangan (Mn ≥ 49%) dengan harga rata-rata sebesar USD208,00/ WE atau naik sebesar 2,52%; konsentrat pasir besi (lamela magnetit-ilmenit) (Fe ≥ 56%) dengan harga rata-rata sebesar USD 88,39/WE atau naik sebesar 19,34%;

konsentrat ilmenit (TiO2 ≥ 45%) dengan harga rata-rata sebesar USD 339,00/WE atau naik sebesar 4,26%; dan konsentrat rutil (TiO2 ≥ 90%) dengan harga rata-rata sebesar USD 926,52/WE atau naik sebesar 6,16%.

Sedangkan, produk yang mengalami

penu-runan dibandingkan HPE periode sebelumnya adalah konsentrat timbal (Pb ≥ 56%) dengan harga rata-rata sebesar USD 818,19/WE atau turun sebesar 2,72%; konsentrat seng (Zn ≥ 51%) dengan harga rata-rata sebesar USD 750,92/WE, turun sebesar 0,60%; dan bauksit yang telah dilakukan pencucian (washed bauxite) (Al2O3 ≥ 42%) dengan harga rata-rata USD27,09/WE atau turun sebesar 0,18%.

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Meanwhile, iron sand concentrate pellets (lamella magnetite-ilmenite) (Fe ≥ 54) with an average price of USD 117.98/WE did not change. (Sandy)

Sementara itu, pellet konsentrat pasir besi (lamela magnetit-ilmenit) (Fe ≥ 54) dengan harga rata-rata USD 117,98/WE tidak mengalami perubahan. (Sandy)

Bumi Resources (BUMI) continues

to promote the expansion agenda

in the downstream sector

Reporter: Dimas Andi

C

OAL mining company PT Bumi Resources Tbk continues to launch an expansion agenda in the downstream sector in the form of a coal gasification project into methanol. Business diversification is also being promoted by the issuer with the BUMI stock code.

For information, BUMI through its subsidiary PT Kaltim Prima Coal (KPC) is working on the construction of a coal processing facility for methanol in Bengalon, East Kalimantan. In this project, BUMI as part of the Bakrie Group collaborates with Ithaca Group and Air Products.

The project itself is in the stage of finalizing a feasibility study and business scheme. Later, KPC will act as a coal supplier for the gasification facility. "This project is on the right track for possible commissioning around 2024," added Bumi Resources Director & Corporate Secretary Dileep Srivastava, today (1/2).

According to Kontan's records, the coal demand that must be provided by KPC for the gasification project in Bengalon is around 5 million tons-6.5 million tons per year with a quality of GAR 4,200 kcal/kg. When operational, the plant could produce 1.8 million tonnes per year of methanol.

Bumi Resources (BUMI) terus

menggeber agenda ekspansi di

sektor hilirisasi

Reporter: Dimas Andi

P

ERUSAHAAN tambang batubara PT Bumi Resources Tbk terus menggeber agenda ekspansi di sektor hilirisasi berupa proyek gasifikasi batubara menjadi metanol. Diversifikasi bisnis pun juga digalakan oleh emiten berkode saham BUMI tersebut. Sebagai informasi, BUMI melalui anak usahanya PT Kaltim Prima Coal (KPC) meng-garap pembangunan fasilitas pengolahan batubara menjadi metanol di Bengalon, Kalimantan Timur. Di proyek tersebut, BUMI selaku bagian dari Grup Bakrie ber-kolaborasi dengan Ithaca Group dan Air Product.

Proyek ini sendiri sedang berada dalam tahap finalisasi studi kelayakan dan skema bisnis. Nantinya, KPC akan berperan sebagai pemasok batubara untuk fasilitas gasifikasi tersebut. “Proyek ini berada di jalur yang tepat untuk kemungkinan commissioning sekitar tahun 2024,” imbuh Director & Corporate Secretary Bumi Resources Dileep Srivastava, hari ini (1/2).

Dalam catatan Kontan, kebutuhan batubara yang mesti disediakan oleh KPC untuk proyek gasifikasi di Bengalon sekitar 5 juta ton-6,5 juta ton per tahun dengan kualitas GAR 4.200 kcal/kg. Ketika beroperasi, pabrik tersebut dapat menghasilkan 1,8 juta ton per tahun metanol.

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Apart from that, BUMI also has a coal gasification project into methanol which is being implemented by another subsidiary, PT Arutmin Indonesia. The methanol factory is located at IBT Terminal, Pulau Laut, South Kalimantan.

Dileep said, the gasification project is targeted to undergo a commissioning process in 2025. Currently, the project is in the pre-feasibility study stage. "Arutmin will supply coal for the methanol plant," he said.

Just so you know, the coal needed to produce methanol there reaches 6 million tons per year with a quality of GAR 3,700 kcal/kg. This methanol plant can produce 2.8 million tons of methanol per year. Unfortunately, he has not been able to disclose the value of the investment funds needed to carry out these coal gasification projects into methanol.

What is clear is that the coal gasification project to methanol which is carried out by BUMI is an important project for the government which is intensifying the downstreaming of mineral and coal. This is because methanol can be used as a substitute for imported gasoline in Indonesia. In addition, methanol can also be used as a substitute for a number of chemical raw materials, such as olefins. Dileep continued, apart from the coal gasification project, BUMI also focuses on business diversification through the development of a gold mine in its subsidiary PT Bumi Resources Minerals Tbk (BRMS). The company is aggressively expanding its capacity to add gold processing plants as well as drilling gold mines in a number of areas, such as Poboya, Palu and Motomboto, Gorontalo.

Selain itu, BUMI juga memiliki proyek gasifikasi batubara menjadi metanol yang dilaksanakan oleh anak usaha lainnya, PT Arutmin Indonesia. Pabrik metanol ter-sebut berlokasi di IBT Terminal, Pulau Laut, Kalimantan Selatan.

Dileep bilang, proyek gasifikasi tersebut ditargetkan menjalani proses commissioning pada tahun 2025 nanti. Adapun saat ini, proyek tersebut berada dalam tahap pra studi kelayakan. “Arutmin akan memasok batubara untuk pabrik metanol tersebut,” tuturnya.

Asal tahu saja, batubara yang dibutuhkan untuk memproduksi metanol di sana mencapai 6 juta ton per tahun dengan kualitas GAR 3.700 kcal/kg. Pabrik metanol ini nantinya dapat menghasilkan metanol sebanyak 2,8 juta ton per tahun. Sayangnya, ia belum bisa mengungkapkan nilai dana investasi yang dibutuhkan untuk melaksanakan proyek-proyek gasifikasi batubara menjadi metanol ini.

Yang jelas, proyek gasifikasi batubara menjadi metanol yang dikerjakan oleh BUMI menjadi salah satu proyek penting bagi pemerintah yang sedang meng-gencarkan hilirisasi minerba. Sebab, metanol dapat dimanfaatkan sebagai pengganti impor gasoline di Indonesia. Selain itu, metanol juga bisa diperuntukan sebagai subtitusi sejumlah bahan baku kimia, misalnya olefin.

Dileep melanjutkan, di luar proyek gasifikasi batubara, BUMI juga fokus pada diversifikasi bisnis melalui pengembangan tambang emas anak usahanya PT Bumi Resources Minerals Tbk (BRMS). Perusahaan ini sedang gencar melakukan ekspansi penambahan kapasitas pabrik pengolahan emas sekaligus pengeboran tambang emas di sejumlah daerah, seperti Poboya, Palu dan Motomboto, Gorontalo.

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"We also improve efficiency, growth, and overall operating performance in investing in the associated company PT Darma Henwa Tbk," he added.

For the record, the issuer coded as DEWA shares has participated in a number of non-coal mining service projects this year. For example, a zinc and tin mining project in Dairi, North Sumatra and a gold and copper mining project in Palu, Central Sulawesi.

Regarding the operational performance target, Dileep said that this year BUMI will produce around 85 million tonnes-90 million tonnes of coal. This number

increased compared to BUMI's coal

produc-tion achievements last year which was in the

range of 83 million tons. Editor: Handoyo

“Kami juga meningkatkan efisiensi, per-tumbuhan, dan kinerja operasi secara keseluruhan dalam investasi pada entitas asosiasi PT Darma Henwa Tbk,” tambah dia. Sekadar catatan, emiten berkode saham DEWA tersebut turut berpartisipasi dalam sejumlah proyek jasa penambangan non batubara di tahun ini. Contohnya, proyek penambangan seng dan timah di Dairi, Sumatera Utara dan proyek penambangan emas dan tembaga di Palu, Sulawesi Tengah. Adapun terkait target kinerja operasional, Dileep menyebut bahwa di tahun ini BUMI akan memproduksi batubara sekitar 85 juta ton-90 juta ton. Jumlah ini meningkat dibandingkan capaian produksi batubara BUMI di tahun lalu yang berada di kisaran 83 juta ton. Editor: Handoyo

Investment in the development

of the EV battery industry

reaches US$17.4 billion

Retno Ayuningtyas

T

HE DEVELOPMENT of the electric vehicle (EV) battery industry from upstream to downstream in Indonesia is estimated at US$ 13.4-17.4 billion. This investment plan will be implemented by members of Indonesia Baterry Holding (IBH) together with strategic partners. Head of the Electric Vehicle Battery Project Acceleration Team, Agus Tjahajana Wirakusumah, said that the development of the EV battery industry aims to take advantage of the great business opportunities in the future and the potential of Indonesia's natural resources. If this industry is successfully...

Investasi Pengembangan

Industri Baterai EV Capai

US$17,4 Miliar

Retno Ayuningtyas

P

ENGEMBANGAN industri baterai ken-daraan listrik (electric vehicle/EV) dari hulu hingga hilir di Indonesia diperkirakan mencapai US$ 13,4-17,4 miliar. Rencana investasi ini akan dilaksanakan oleh anggota Indonesia Baterry Holding (IBH) bersama mitra strategis.

Ketua Tim Percepatan Proyek Baterai Kendaraan Listrik Agus Tjahajana Wirakusumah menuturkan, pengem-bangan industri baterei EV ini bertujuan memanfaatan peluang bisnis yang besar di masa mendatang dan potensi sumber daya alam Indonesia. Jika industri ini berhasil...

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If this industry is successfully built and then added to the size of the domestic automotive market, Indonesia has the greatest opportunity in Southeast Asia to build an ecosystem for the electric vehicle industry.

However, the investment requirement for the development of the EV battery industry is indeed quite large. "The investment value of EV batteries from upstream to down-stream, the lowest to highest cell capacity of up to 140 gigawatt hours (GWh) is around US$ 13.4-17.4 billion," he said in a meeting with Commission VII DPR RI, Monday (1/2). Currently, he continued, the government is forming an Indonesia Baterry Holding consisting of PT MIND ID, PT Antam Tbk, PT Pertamina (Persero), and PT PLN (Persero). This is because the plan is that the entire value chain investment for the EV battery industry will be carried out by each BUMN holding member or through a joint venture (JV) with international partners.

Later, the cooperation scheme with the consortium will be reflected in the amount of shares of each BUMN. "The share ownership portion of each BUMN will be 25%," said Agus. This same portion is for maintaining neutrality and accountability, as well as encouraging synergy and alignment throughout the EV battery ecosystem.

Each BUMN, he said, would have the discretion to be able to participate directly in joint ventures formed with potential partners. Meanwhile, the formation of Indonesia Battery Holding will be carried out immediately after negotiations with potential partners are finalized.

Director of MIND ID Orias Petrus Moedak explained that the initial capital when IBH was established would be around US$ 50 million. Meanwhile,...

Jika industri ini berhasil dibangun kemudian ditambah besarnya pasar otomotif dalam negeri, Indonesia memiliki peluang terbesar di Asia Tenggara untuk membangun ekosistem industri kendaraan listrik.

Namun, kebutuhan investasi untuk pengembangan industri baterei EV ini memang cukup besar. “Nilai investasi baterei EV dari hulu sampai hilir, terendah sampai tertinggi kapasitas sel hingga 140 gigawatt hour (GWh) adalah sekitar US$ 13,4-17,4 miliar,” kata dia dalam rapat dengan Komisi VII DPR RI, Senin (1/2). Saat ini, lanjut dia, pemerintah tengah membentuk Indonesia Baterry Holding yang terdiri dari PT MIND ID, PT Antam Tbk, PT Pertamina (Persero), dan PT PLN (Persero). Pasalnya, rencananya, kese-luruhan investasi value chain industri baterei EV ini akan dilaksanakan oleh masing-masing BUMN anggota holding atau melalui perusahaan patungan (joint venture/JV) dengan mitra internasional. Nantinya, skema kerja sama dengan konsorsium dicerminkan dengan besaran saham masing-masing BUMN. “Porsi kepemilikan saham masing-masing BUMN akan sebesar 25%,” tutur Agus. Porsi yang sama ini untuk menjaga netralitas dan akuntabilitas, serta mendorong sinergi dan penyelarasan sepanjang ekosistem baterei EV.

Masing-masing BUMN, sebutnya, akan me-miliki keleluasaan untuk dapat berpartisi-pasi langsung dalam perusahaan patungan

yang dibentuk bersama calon mitra.

Sementara pembentukan Indonesia Battery Holding akan segera dilakukan setelah negosiasi dengan calon mitra difinalisasi.

Direktur Utama MIND ID Orias Petrus Moedak menjelaskan, modal awal ketika IBH berdiri nantinya sekitar US$ 50 juta. Sementara...

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Meanwhile, the investment of up to US$ 17 billion will be carried out in stages, where the initial stage is still in the range of US$ 5-10 billion, mainly in the upstream sector of the battery industry.

"The funding, a temporary calculation of 30% equity and 70% loan. Funding has been calculated so that we can gradually continue according to the level of demand. Last year, electric vehicles were still small, there was no growth,” he explained.

Regarding partners, Agus continued, his party was conducting an assessment. From the beginning, the 11 companies with the highest capacity in the world, he has sorted seven companies that meet the criteria. Some of the criteria used in this selection are global footprint and expansion plans, financial strength and investment in the battery sector, as well as brand reputation and relationships with original equipment manufacturers (OEMs).

"Seven companies that have met the criteria are CATL, LG Chem, Samsung, Tesla, and others," said Agus.

He added that Indonesia is targeting to become a global player in upstream materials and battery cathodes, as well as a regional and domestic downstream player in batteries and electric vehicles. This is done by boosting nickel sulfate production to 50-100 thousand tons per year and 120-140 thousand precursors and cathodes per year.

If realized, he said that Indonesia could get a gross domestic income of up to US$ 26 billion in 2030, assuming a capacity of 140 GWh. Other benefits include the creation of jobs for 23.5 thousand workers and an increase in the trade balance of around US$ 9 billion.

Sementara investasi hingga US$ 17 miliar akan dilaksanan secara bertahap, di mana tahap awal masih di kisaran US$ 5-10 miliar utamanya di sektor hulu industri baterai.

“Pendanaannya, perhitungan sementara ekuitas 30% dan pinjaman 70%. Pen-danaan sudah dihitung supaya secara bertahap kami bisa lanjut sesuai dengan tingkat demand. Tahun lalu kan kendaraan listrik masih sedikit, pertumbuhan belum ada,” jelasnya.

Terkait mitra, Agus melanjutkan, pihaknya tengah melakukan penjajakan. Dari awal-nya 11 perusahaan dengan kapasitas tertinggi di dunia, pihaknya menyortir tujuh perusahaan yang memenuhi kriteria. Beberapa kriteria yang digunakan dalam seleksi ini yakni jejak global dan rencana ekspansi, kekuatan finansial dan investasi di bidang baterai, serta reputasi merek dan hubungan dengan original equipment manufacturer (OEM).

“Tujuh perusahaan yang telah memenuhi kriteria yakni CATL, LG Chem, Samsung, Tesla, dan lainnya,” ungkap Agus.

Ditambahkannya, Indonesia menargetkan dapat menjadi pemain global material hulu dan katoda baterai, serta pemain hilir regional dan domestik di baterai dan kendaraan listrik. Hal ini dengan meng-genjot produksi nikel sulfat hingga 50-100 ribu ton per tahun dan prekursor dan katoda 120-140 ribu per tahun.

Jika terealisasi, Indonesia disebutnya bisa memperoleh pendapatan domestk bruto hingga US$ 26 miliar di 2030 dengan asumsi kapasitas 140 GWh. Manfaat lain-nya adalah terciptalain-nya lapangan kerja untuk 23,5 ribu pekerja dan peningkatan neraca perdasangan sekitar US$ 9 miliar.

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Must be Realized

Meanwhile, Deputy Chairman of Commission VII DPR RI Ramson Siagian emphasized that the DPR supports the government in developing the electric vehicle battery industry considering its role in reducing greenhouse gas emissions. However, his party encouraged the plan to be realized, not just being the government's jargon for political interests. Moreover, the target road map designed is very optimistic. "Please convey to the Minister of BUMN, this [the development of the EV battery industry] should not only consume political rhetoric, but this is for future generations. So all resources must be mobilized, including technology, management capacity, other resources including funds. This must be really concrete," he said. DPR RI Commission VII member Ratna Juwita Sari also reminded the economics of the electric vehicle battery project. This is due to the projected investment require-ment of US$ 17.4 billion. "For example, BUMN must include such a large amount of capital, the target is how many years it will be returned. You have to learn from PTFI (PT Freeport Indonesia), don't let the same thing happen again," he said.

Agus explained that the development of the electric vehicle battery industry has been rolling. According to the road map, this year it is targeted that the construction of charging stations throughout Indonesia has begun. So far, PLN has 32 Public Electric Vehicle Charging Stations (SPKLU) in 22 locations and has started a pilot project of 33 Electric Vehicle Battery Exchange Stations (SPBKLU).

"In 2022, electric vehicle manufacturers are expected to start production in Indonesia. And the [battery] industry from upstream to downstream is planned to start operating in 2024," he said.

Harus Terealisasi

Sementara itu, Wakil Ketua Komisi VII DPR RI Ramson Siagian menegaskan bahwa DPR mendukung pemerintah mengem-bangan industri baterai kendaraan listrik ini mengingat perannya dalam mengurangi emisi gas rumah kaca. Namun, pihaknya mendorong rencana tersebut harus terealisasi, jangan hanya sekedar menjadi jargon pemerintah untuk kepentingan politik semata. Apalagi, target peta jalan yang dirancang sangat optimis.

“Tolong disampaikan ke Menteri BUMN, ini [pengembangan industri baterai EV] jangan hanya konsumsi retorika politik, tetapi ini untuk generasi mendatang. Jadi segala sumber daya harus digerakkan, baik teknologi, kapasitas manajemen, sumber daya lain termasuk dana. Ini harus betul-betul konkrit,” tegas dia.

Anggota Komisi VII DPR RI Ratna Juwita Sari juga mengingatkan terkait keeko-nomian proyek baterai kendaraan listrik tersebut. Hal ini mengingat proyeksi kebutuhan investasinya mencapai US$ 17,4 miliar. “Kalau misalnya BUMN harus sertakan modal sebesar itu, target baliknya berapa tahun. Harus belajar dari PTFI (PT Freeport Indonesia), jangan sampai ulang hal sama,” ungkapnya.

Agus menjelaskan, pengembangan industri baterei kendaraan listrik ini sudah ber-gulir. Sesuai peta jalan, tahun ini ditarget-kan pembangunan stasiun pengisian (charging station) di seluruh Indonesia sudah dimulai. Sejauh ini, PLN telah memiliki 32 Stasiun Pengisian Kendaraan Listrik Umum (SPKLU) di 22 lokasi dan

memulai pilot project 33 Stasiun Penukaran Baterai Kendaraan Listrik (SPBKLU).

“Di 2022, manufacturer kendaraan listrik diharapkan mulai produksi di Indonesia. Dan industri [baterai] dari hulu hingga hilir direncanakan mulai beroperasi pada 2024,” tuturnya.

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The start of the battery industry was marked by the operation of Antam's High Pressure Acid Leaching Process (HPAL) Factory and Pertamina-MIND ID's Precursor and Cathode Factory. Next in 2025, the Pertamina-PLN Cell to Pack Factory is targeted to start operating.

Editor: Euis Rita Hartati

Dimulainya industri baterai ini ditandai dengan beroperasinya Pabrik High Pressure Acid Leaching Process (HPAL) Antam serta Pabrik Prekursor dan Katoda Pertamina-MIND ID. Berikutnya di 2025, Pabrik Cell to Pack Pertamina-PLN di-targetkan mulai beroperasi. Editor : Euis Rita Hartati

Harum Energy (HRUM) Buy

Nickel Company Shares for

Rp1.1 Trillion

Hafiyyan & Finna U. Ulfah

C

OAL mining company, PT Harum Energy Tbk. (HRUM) is increasingly expanding into the nickel mining business.

On January 28, 2021, one of the HRUM entities PT Tanito Harum Nickel purchased 24,287 shares belonging to Aquila Nickel Pte. Ltd. in PT Position. This amount is equivalent to 51 percent of all issued capital in PT Position.

"The sale and purchase price is US$ 80.325 million," said HRUM management in a letter to the Indonesia Stock Exchange, Monday (1/2/2021).

By calculating the Jisdor exchange rate on January 28, 2021 at the level of Rp.14,119 per US dollar, the transaction value of US$ 80.325 million is equivalent to Rp1.13 trillion.

Meanwhile, PT Position is a limited liability company established based on applicable law in Indonesia, and has a mining business license for nickel.

The purpose of the transactions carried out by Harum Energy is to develop and expand business activities in the mining sector.

Harum Energy (HRUM) Beli

Saham Perusahaan Nikel Rp1,1

Triliun

Hafiyyan & Finna U. Ulfah

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MITEN pertambangan batu bara, PT Harum Energy Tbk. (HRUM) semakin gencar melebarkan sayap ke bisnis pertambangan nikel.

Pada 28 Januari 2021, salah satu entitas HRUM PT Tanito Harum Nickel membeli 24.287 saham milik Aquila Nickel Pte. Ltd. dalam PT Position. Jumlah itu setara 51 persen dari seluruh modal ditempatkan dalam PT Position.

"Harga jual beli sebesar US$80,325 juta," papar manajemen HRUM dalam suratnya kepada Bursa Efek Indonesia, Senin (1/2/ 2021).

Dengan perhitungan kurs Jisdor pada 28 Januari 2021 di level Rp14.119 per dolar AS, maka nilai transaksi US$80,325 juta setara dengan Rp1,13 triliun.

Adapun, PT Position adalah perseroan terbatas yang didirikan berdasarkan hukum yang berlaku di Indonesia, dan memiliki Izin Usaha Pertambangan untuk komoditas nikel. Tujuan dari transaksi yang dilakukan Harum Energy adalah mengembangkan dan mem-perluas kegiatan usaha di bidang pertam-bangan.

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Previously, Harum Energy continued to increase its share ownership in Nickel Mines Ltd, a nickel mining and processing company whose shares are listed on the Australian Stock Exchange.

Nickel Mines holds 80 percent ownership of PT Hengjaya Mineralindo, a company that explores nickel in the Central Sulawesi area, to be precise in the Morowali area. As of December 15, 2020, the issuer coded as HRUM shares held 4.88 percent of all issued capital in Nickel Mines Ltd after buying 39 million shares worth 36.74 million Australian dollars.

Meanwhile, Harum Energy continues to add Nickel Mines shares gradually. Previously, on June 16, 2020, Harum Energy also bought 10.55 million shares of Nickel Mines for 5.27 million Australian dollars.

On June 2, 2020, HRUM also bought 68.53 million shares of Nickel Mines Limited with a purchase price of 34.26 million Australian dollars. Editor: Hafiyyan

Sebelumnya, Harum Energy terus menam-bahkan kepemilikan sahamnya di Nickel Mines Ltd, perusahaan tambang dan pengolahan nikel yang sahamnya tercatat di Bursa Efek Australia.

Nickel Mines memegang kepemilikan 80 persen terhadap PT Hengjaya Mineralindo, perusahaan yang melakukan eksplorasi nikel di daerah Sulawesi Tengah, tepatnya di kawasan Morowali.

Per 15 Desember 2020, emiten berkode saham HRUM itu menggenggam 4,88 persen dari seluruh modal ditempatkan dalan Nickel Mines Ltd setelah membeli 39 juta lembar saham senilai 36,74 juta dolar Australia. Adapun, Harum Energy terus menambahkan saham Nickel Mines secara bertahap. Sebelumnya, pada 16 Juni 2020, Harum Energy juga membeli 10,55 juta lembar saham Nickel Mines seharga 5,27 juta dolar Australia.

Pada 2 Juni 2020, HRUM juga memborong 68,53 juta saham Nickel Mines Limited dengan harga jual beli sebesar 34,26 juta dolar Australia. Editor : Hafiyyan

Here are the fundamentals of

Aneka Tambang (ANTM) after

obtaining a bauxite ore export

permit

Reporter: Akhmad Suryahadi | Editor: Anna Suci Perwitasari

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T ANEKA Tambang Tbk (ANTM) has just received export approval for washed bauxite ore with Al2o3 = 42% content of 1.89 million wet metric tons (wmt) for the period 2021-2022.

Begini fundamental Aneka

Tambang (ANTM) usai dapat

izin ekspor bijih bauksit

Reporter: Akhmad Suryahadi | Editor: Anna

Suci Perwitasari

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T ANEKA Tambang Tbk (ANTM) baru saja mendapatkan persetujuan ekspor bijih bauksit tercuci dengan kadar Al2o3 = 42% sebesar 1,89 juta wet metrik ton (wmt) untuk periode 2021-2022.

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The state-owned mining company obtained an export permit for the imple-mentation of the Smelter Grad Alumina Refinery (SGAR) factory downstream project. The mineral export license complements the bauxite ore export permit that ANTM had previously, which amounted to 840,000 wmt of ownership of the Chemical Grade Alumina (CGA) factory in Tayan.

Based on the Regulation of the Minister of Energy and Mineral Resources No. 17 of 2020 concerning Mineral and Coal Mining Business, ANTM is included in the criteria for companies holding Bauxite Production Operation Mining Permits (IUP) that already own and operate and develop mineral refining facilities in the country. "Therefore, currently ANTM is allowed to export washed bauxite ore with Al2O3 content = 42%, by obtaining a recommen-dation for export approval which is extended annually until 2023," said Aneka Tambang's Corporate Secretary, Kunto Hendrapawoko, Thursday ( 28/1).

NH Korindo Sekuritas Indonesia analyst Maryoki Pajri Alhusnah assessed that, fundamentally, this bauxite export permit did not really affect ANTM's income. This is because bauxite only contributes around 2% of ANTM's total revenue as of the third quarter of 2020.

"However, the existence of this export permit is one of the positive catalysts for ANTM itself," explained Maryoki to Kontan.co.id, Monday (1/2).

As of the third quarter of 2020, ANTM, a member of the Kompas100 index, posted revenues of Rp 18.03 trillion. The sales of bauxite ore were only Rp 444.21 billion or 2.46% of Aneka Tambang's total revenue.

Perusahaan tambang milik negara tersebut memperoleh izin ekspor atas pelaksanaan proyek hilirisasi pabrik Smelter Grad Alumina Refinery (SGAR). Adapun izin ekspor mineral ini melengkapi izin ekspor bijih bauksit yang telah dimiliki ANTM sebelumnya, yakni sebesar 840.000 wmt atas kepemilikan pabrik Chemical Grade Alumina (CGA) di Tayan.

Berdasarkan Peraturan Menteri Energi dan Sumber Daya Mineral No. 17 tahun 2020 tentang Pengusahaan Pertambangan Mineral dan Batubara, ANTM masuk dalam kriteria Perusahaan pemegang Izin Usaha Pertambangan (IUP) Operasi Produksi Bauksit yang telah memiliki dan meng-operasikan serta mengembangkan fasilitas pemurnian mineral di dalam negeri.

"Oleh sebab itu, saat ini ANTM diperkenan-kan untuk melakudiperkenan-kan ekspor bijih bauksit tercuci dengan kadar Al2O3 = 42%, dengan mendapatkan rekomendasi persetujuan ekspor yang diperpanjang setiap tahunnya paling lama sampai dengan tahun 2023," kata Sekretaris Perusahaan Aneka Tambang, Kunto Hendrapawoko, Kamis (28/1).

Analis NH Korindo Sekuritas Indonesia Maryoki Pajri Alhusnah menilai, secara fundamental, izin ekspor bauksit ini tidak terlalu berpengaruh terhadap pendapatan ANTM. Hal ini karena bauksit hanya menyumbangkan sekitar 2% dari total pendapatan ANTM per kuartal ketiga 2020. “Namun, dengan adanya izin ekspor ini merupakan salah satu positif katalis untuk ANTM sendiri,” terang Maryoki kepada Kontan.co.id, Senin (1/2).

Per kuartal ketiga 2020, ANTM , anggota indeks Kompas100 ini, membukukan pendapatan senilai Rp 18,03 triliun. Adapun penjualan bijih bauksit hanya Rp 444,21 miliar atau 2,46% dari total pendapatan Aneka Tambang.

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Based on the operational report, ANTM has recorded a production of bauxite used in alumina production of 1.55 million wet metric tons (wmt) throughout 2020, or a decrease of 10.02% from bauxite production in the 2019 period which reached 1.72 million wmt. Meanwhile, bauxite sales also decreased, from the previous 1.69 million wmt in 2019 to 1.22 million wmt in 2020.

Berdasarkan laporan operasional, ANTM tercatat memproduksi bauksit yang digunakan dalam produksi alumina sebesar 1,55 juta wet metric ton (wmt) sepanjang 2020, atau menurun 10,02% dari produksi bauksit di periode 2019 yang mencapai 1.72 juta wmt. Sementara itu, penjualan bauksit juga menurun, dari sebelumnya 1,69 juta wmt di 2019 menjadi 1,22 juta wmt di 2020.

Quiet Please! Coal Prices are

indeed landslides but there are

catalysts

Tirta Citradi, CNBC Indonesia

C

OAL prices experienced a sharp correction in trading yesterday, Monday (1/2/2021). The ICE Newcastle coal futures contract price dropped 6.5% to US$ 84.15/ton.

Currently, the contract price for the jet stone which is actively traded on the futures exchange is at its lowest level since last January 19. The trend is that coal prices will drop after their new record highs are broken.

At the end of December, for example, the price of Newcastle thermal coal had touched US$ 85.5/ton. After that, the coal price landslides in five consecutive trading days to US$ 75.7/ton.

After a while, the price of coal immediately rose. The price of coal has reached US$ 90/ton in less than one week. The price of coal has again fallen to below US$ 85/ton.

Harap Tenang! Harga Batu Bara

Memang Longsor tapi Ada

Katalis

Tirta Citradi, CNBC Indonesia

H

ARGA batu bara mengalami koreksi yang tajam pada perdagangan kemarin, Senin (1/2/2021). Harga kontrak futures (ber-jangka) batu bara ICE Newcastle drop 6,5% ke US$ 84,15/ton.

Kini harga kontrak batu legam yang aktif ditransaksikan di bursa berjangka tersebut berada di level terendahnya sejak 19 Januari lalu. Tren yang terjadi, harga batu bara akan drop pascatembus rekor ter-tinggi barunya.

Di akhir bulan Desember misalnya harga batu bara termal Newcastle sempat menyentuh US$ 85,5/ton. Setelah itu harga batu bara longsor dalam lima hari perda-gangan beruntun ke US$ 75,7/ton.

Selang tak berapa lama harga batu bara langsung bangkit. Harga batu bara pun tembus US$ 90/ton dalam kurun waktu kurang dari satu minggu. Harga batu bara kembali anjlok ke bawah US$ 85/ton.

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However, again, the commodity prices of the Kangaroo Country and Indonesia flew up and touched the level of US$ 91/ton. The difference (spread) in the price of thermal coal from Australia (Newcastle) and China (Qinhuangdao) has narrowed recently.

In the past, the price difference between these two coals was US$ 70/ton. However, now the difference is narrowing below US$ 50/ton.

This is due to the drastic drop in China's local coal prices after the government decided to boost production and relax its import policy.

The election of Joe Biden as the 46th president of the US also brings bad sentiment for the fossil energy sector, including coal. Unlike Trump, the Democrat politician is more pro towards clean energy.

Biden's focus on tackling the problem of climate change is reflected in his re-joining the Paris Agreement and seeking to end new oil contracts and remove fossil fuel subsidies.

The US and Europe are serious about switching to alternative, more environ-mentally friendly fuels. Despite similar steps being pursued by China, India and Japan, the coal market in the Asia Pacific region is still vibrant.

The stretching economy of China as the largest coal consumer in the world has made the demand for this fossil energy commodity increased and made its price fly. The prospect of coal this year is considered to be more positive than in 2020.

The Covid-19 pandemic is still spreading. Many are skeptical that vaccinations will be successful given the unfinished clinical trials, limited supply and complex distribution problems.

Namun lagi-lagi harga komoditas unggulan Negeri Kanguru dan Indonesia ini terbang dan menyentuh level US$ 91/ton. Selisih (spread) harga batu bara termal Australia (Newcastle) dan China (Qinhuangdao) semakin menipis belakangan ini.

Dulu selisih harga kedua batu bara ini mencapai US$ 70/ton. Namun sekarang selisihnya sudah semakin sempit di bawah US$ 50/ton.

Hal ini diakibatkan oleh penurunan drastis harga batu bara lokal China setelah peme-rintah memutuskan untuk mendongkrak produksi dan melonggarkan kebijakan impornya.

Terpilihnya Joe Biden sebagai presiden ke-46 AS juga membawa sentimen buruk untuk sektor energi fosil, tak terkecuali batu bara. Berbeda dengan Trump, politisi partai Demokrat itu lebih pro terhadap energi yang bersih.

Fokus Biden untuk mengatasi permasalahan perubahan iklim tercermin dalam tindakan-nya yang kembali bergabung dengan Perjanjian Paris serta berupaya untuk hentikan kontrak minyak baru dan meng-hapus subsidi bahan bakar fosil.

AS dan Eropa memang serius untuk beralih ke bahan bakar alternatif yang lebih ramah lingkungan. Kendati langkah serupa juga terus diupayakan oleh China, India dan Jepang pasar batu bara di kawasan Asia Pasifik masih bergairah.

Geliat ekonomi China sebagai konsumen batu bara terbesar di dunia membuat permintaan terhadap komoditas energi fosil ini meningkat dan membuat harganya terbang. Prospek batu bara di tahun ini dinilai lebih positif dari tahun 2020.

Pandemi Covid-19 memang masih terus merebak. Banyak pihak yang skeptis

vaksinasi akan berhasil mengingat uji klinis yang belum selesai, pasokan yang terbatas dan masalah distribusi yang kompleks.

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However, commodity supercycle sentiment is sufficient to increase the price of agricultural and mining commodities, including coal. If you reflect on historical trends, the price of coal still has the opportunity to soar to US$ 100/ton as happened in 2009 and 2016 ago. CNBC INDONESIA RESEARCH TEAM (twg/twg)

Namun sentimen commodity supercycle cukup membuat harga komoditas pertanian dan pertambangan terdongkrak termasuk batu bara. Apabila berkaca pada tren historis, harga batu bara masih berpeluang melesat ke US$ 100/ton seperti yang terjadi pada 2009 dan 2016 silam. TIM RISET CNBC INDONESIA (twg/twg)

Global gold output to rise 5.5% in 2021 – report

MINING.com Editor

A

FTER declining in 2019, global gold production was adversely affected by the covid-19 pandemic during 2020, while the suspension of expansion works and contractions from mines nearing closure also exacerbated the decline. Overall output in 2020 was estimated to have declined by 5.2% to 108 million ounces (moz), according to UK-based analytics company GlobalData.

This year, however, total production is expected to bounce back and increase by 5.5% to 113.9moz and then grow to 124.1moz by 2024 – a 2.9% compound annual growth rate (CAGR).

Indonesia, Peru and the US will be the key contributors to this growth, GlobalData says. Combined production in these countries is expected to recover from an estimated 20.1moz in 2021 to 25.3moz in 2024.

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Key projects

Key projects expected to commence operations during the forecast period include Barrick and Newmont’s Turquoise Ridge underground expansion project in Nevada, which is currently undergoing construction. With an annual gold production capacity of 500koz, the project is expected to be commissioned in late-2022.

The Salares Norte project in Chile, which is wholly owned by Gold Fields, is also under construction. With an annual gold production capacity of 450koz and a development capital expenditure of about $860m, the project is expected to begin operations in 2023.

The greatest impact of covid-19 on gold production was observed during the first half of 2020, when six of the top 10 gold producers reported a collective 8.4% year-on-year fall in their output. Major declines were from Barrick (12.3%), Newcrest (15%), and Agnico Eagle (8.4%). Major contributors offsetting the declines were Kirkland Gold (48%), due to the acquisition of the Detour Lake project by Detour Gold in January 2020, and Zijin (5.9%). Several gold mines were forced to suspend operations temporarily due to the pandemic, including Barrick’s Veladero, Pueblo Viejo and Porgera mines, and Agnico’s Nunavut, Quebec and Mexican mining operations.

Regional production

China, after reporting an all-time high of 16.7moz of gold production in 2014, has been on a downtrend ever since, as a consequence of policy changes and depleting ore reserves. Adding to these factors, the pandemic struck the country’s output hard during the first quarter of 2020. Therefore, China’s gold production is estimated to have declined by 7% to 12.4moz in 2020, according to GlobalData.

The pandemic also had a significant impact on African operations mainly during the second quarter of 2020, where gold production is gradually shifting its base towards Western African countries.

Gold mines that were temporarily suspended in Africa include Mponeng, Kalgold and Zondereinde in South Africa, Obuasi in Ghana, Hounde in Burkina Faso and Fekola in Mali. Overall, gold production from South Africa is expected to have declined by 10.9% in 2020, with declines also in Guyana (15.9%), Ghana (7.5%) and Mali (5.6%).

In Indonesia, production is expected to have declined by 28.9%, owing to the transition of the Grasberg open-pit mine, the country’s largest producer.

Unlike other key producers, GlobalData reports, Australian gold miners remained largely unaffected by the outbreak, as stringent measures were adopted by the government to contain the outbreak enabling minimal disruptions to mining activities.

State governments, including Western Australia, South Australia, Tasmania, and the Northern Territory, began to close their borders from late March, with certain exceptions for essential service workers. Overall, gold production in Australia is expected to have grown by 4.3% in 2020, reaching 12moz.

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India cuts import tax on gold, industry expects drop in smuggling

By: Reuters

I

NDIA slashed import duties on gold and silver on Monday in a surprise move that industry officials say could boost retail demand and curtail smuggling in the world's second-biggest bullion consumer.

Higher demand for gold from India could support global prices, which hit a record high last year, although that could increase India's trade deficit and weigh on the ailing rupee.

India cut import duties on gold and silver to 7.5% from 12.5%, but imposed a 2.5% cess - a separate tax - on the imports, Finance Minister Nirmala Sitharaman said.

After the changes, gold imports would effectively attract 10.75% tax against 12.5% earlier, said Somasundaram PR, the managing director of the World Gold Council's (WGC) Indian operations.

"Hopefully, this is the first of a series of such cuts to make bullion an asset class that operates mainstream," said Somasundaram.

India raised import duty on gold in 2019 to 12.5%, which industry officials said boosted smuggling of bullion into the country and hit banks and bullion dealers that were paying the duty.

"Higher import duty was not only indirectly promoting illegal gold transactions but also eroding government's revenue," said Ahammed MP, chairman, Malabar Gold & Diamonds. Up to 120 tonnes of gold was smuggled into India in 2019, according to the WGC.

Gold prices have come down with the duty cut and this will boost retail demand, said Prithviraj Kothari, managing director of RiddiSiddhi Bullions.

Gold futures fell nearly 4% after the announcement to 47 200 rupees per 10 grams, the lowest in over seven months.

India also cut import duty on gold dore, or non-refined mined gold, to 6.9% from 11.85% and to 6.1% from 11% on silver dore, Sitharaman said.

Iron ore dilemma: Will China actually cut steel output?: Russell

By Clyde Russell

C

HINA’s vast steel sector, and the iron ore industry feeding it, is grappling with a seemingly contradictory policy impulse that it should produce less this year, even as demand remains strong amid post-pandemic stimulus spending.

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China produced a record 1.05 billion tonnes of steel in 2020, helping to drive spot iron ore prices to a one-year peak of $175.40 a tonne on Dec. 21. Over the year, prices rose 75%. The spot price of benchmark 62% iron ore delivered to North China MT-IO-QIN62=ARG, as assessed by price reporting agency Argus, has since retreated back below $160 a tonne.

But the price has been above $150 for almost two months, which is a strong performance considering that the steel-making ingredient held below $100 for the five years between May 2014 and May 2019.

While China’s record steel output has played its role, global iron ore supply has also been hit by a series of issues in second-largest exporter Brazil, which has suffered disruptions from the coronavirus pandemic, mine closures on safety grounds and a fire last month at an export terminal.

Top exporter Australia has managed to keep its shipments at robust levels, but this hasn’t been enough to offset the supply losses from Brazil and still meet China’s demand.

The question for market participants is whether China will really curtail steel production in 2021, or whether ongoing stimulus spending will triumph as authorities prioritise economic growth over pollution and energy consumption concerns.

The official line is that steel capacity and output should moderate this year.

Industry and Information Technology Minister Xiao Yaqing called on the steel industry to “resolutely” reduce output and ensure that there is a year-on-year decline in 2021, according to a Dec. 29 report from state news agency Xinhua.

Industry body the China Iron and Steel Association (CISA), however, expects higher steel demand this year amid supportive macroeconomic policies.

To resolve this dilemma of how to cut steel output and still meet demand, CISA is touting imports as a solution.

“We can strengthen imports of primary steel products, especially billets ... so that rising demand can be met without increasing output,” CISA Vice Chairman Luo Tiejun told a new conference on Jan. 27.

If China does limit steel output in 2021 and increase imports of steel products, it sets up an intriguing dynamic whereby China’s iron ore imports may drop slightly, while imports by other producers increase by a corresponding amount.

If this occurs it could mean iron ore prices remain supported since demand growth in the rest of the world would offset any decline in China’s imports of the raw material.

DEMAND RECOVERY?

There is already some early signs that seaborne iron ore demand is recovering outside of China.

Global seaborne deliveries in January were an estimated 125.08 million tonnes, according to vessel-tracking and port data compiled by Refinitiv. This figure is likely to be adjusted higher as late-arriving cargoes are included in the assessment.

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