TABLE OF CONTENTS. No. Title Media Source Page

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Daily News Update Page 1

In anticipation of the gas crisis, the European Union Commission has asked its members to voluntarily reduce gas use by 15% from August to March 2023 in order to maintain supply. The 'gas war' from the country led by President Vladimir Putin immediately drove up the price of natural gas which then had an impact on coal as an alternative energy source.

The EU Dutch TTF (EUR) natural gas price is now in the range of UER 199.99 per megawatt-hour. The price is the highest since March 2022. Natural gas prices are up 54% a month and flying 431% a year.

The increase in gas prices and Russia's 'gas war' is believed to make the demand for coal from the European continent soar so that the price increase is unstoppable.

Moreover, Europe is pursuing coal supplies before closing imports from Russia on August 10. The increase in air temperature in Europe is also expected to increase the use of electricity in the future.

"The risk of gas supply will help the movement of coal prices. European governments are also starting to operate their coal plants again. Not to mention, extreme weather problems that make electricity demand increase. The coal market is really under pressure," wrote ANZ Bank, as quoted from Montel News.

Coal imports from the 27 European Union countries and the UK are expected to jump 43% until next year. By June 2022,...

Pasalnya, negara-negara Eropa tengah mengejar pengisian pasokan gas hingga 80%

pada November mendatang untuk mengantisipasi musim dingin. Dengan kapasitas hanya menjadi 20%, target negara Eropa untuk mengisi pasokan gas hingga 80% pada November mendatang dikhawatirkan tidak terpenuhi.

Untuk mengantisipasi krisis gas, Komisi Uni Eropa telah meminta anggotanya untuk secara sukarela mengurangi penggunaan gas sebesar 15% dari Agustus hingga Maret 2023 demi menjaga pasokan. 'Perang gas' dari negara yang dipimpin Presiden Vladimir Putin itu langsung menerbangkan harga gas alam yang kemudian berdampak kepada batu bara sebagai sumber energi alternatif.

Harga gas alam EU Dutch TTF (EUR) kini berada di kisaran UER 199,99 per megawatt- jam. Harga tersebut adalah yang tertinggi sejak Maret 2022. Harga gas alam sudah naik 54% sebulan dan terbang 431%

setahun.

Kenaikan harga gas serta 'perang gas' Rusia diyakini akan membuat permintaan batu bara dari benua Eropa melambung sehingga kenaikan harga pun tak terbendung. Apalagi, Eropa tengah mengejar pasokan batu bara sebelum menutup impor dari Rusia pada 10 Agustus mendatang. Kenaikan suhu udara di Eropa juga diperkirakan akan meningkatkan penggunaan listrik ke depan.

"Risiko pasokan gas akan membantu pergerakan harga batu bara. Pemerintah Eropa juga mulai mengoperasikan kembali pembangkit batu bara mereka. Belum lagi, persoalan cuaca ekstrem yang membuat permintaan listrik meningkat. Pasar batu bara benar-benar dalam tekanan," tulsi ANZ Bank, seperti dikutip dari Montel News.

Impor batu bara dari 27 negara Uni Eropa dan Inggris diperkirakan melonjak 43%

hingga tahun depan. Pada Juni 2022,...

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By June 2022, European countries had imported 7.9 million tons of coal, double the amount compared to the same period last year. Bulk shipments were made from Colombia (1.2 million tonnes) and Australia (1.1 million tonnes).

European countries are now busy looking for alternative suppliers to replace Russia.

If initially they relied on Australia, Indonesia and South Africa, they have even contacted Tanzania, Kazakhstan, and Nigeria to become alternative suppliers.

"Poland and Germany may be able to replace the use of gas in their power plants with coal at full capacity due to adequate supply," ING told Reuters.

The Mehrum coal power plant in Germany with a capacity of 690 Mega Watts (MW) will resume operations on August 1.

However, the other four have yet to provide a statement that they are willing to operate their plants, including ENBW.

Germany hopes to operate their coal power plant with a capacity of 5.9 Giga Watt (GW) until April next year. This capacity is expected to cover 1-2% of electricity demand which was originally supplied by gas. CNBC INDONESIA RESEARCH TEAM (mae/mae)

Pada Juni 2022, negara Eropa sudah meng- impor batu bara sebanyak 7,9 juta ton, dua kali lipat lebih banyak dibandingkan periode yang sama tahun lalu. Pengiriman dalam jumlah besar dilakukan dari Kolombia (1,2 juta ton) serta Australia (1,1 juta ton).

Negara-negara Eropa kini sibuk mencari pemasok alternatif untuk menggantikan Rusia.

Jika semula mereka mengandalkan Australia, Indonesia, dan Afrika Selatan, mereka bahkan sudah menghubungi Tanzania, Kazakhstan, dan Nigeria untuk menjadi pemasok alternatif.

"Polandia dan Jerman kemungkinan bisa mengganti penggunaan gas pada pembangkit listrik mereka dengan batu bara dengan kapasitas penuh karena pasokan yang memadai,"

tutur ING, kepada Reuters.

Pembangkit listrik batu bara Mehrum di Jerman yang berkapasitas 690 Mega Watt (MW) akan kembali beroperasi pada 1 Agustus. Namun, empat lainnya belum memberikan pernyataan bersedia mengoperasi-kan pembangkit mereka, termasuk ENBW.

Jerman berharap bisa mengoperasikan pembangkit listrik batu bara mereka dengan kapasitas 5,9 Giga Watt (GW) hingga April tahun depan. Kapasitas tersebut diharapkan bisa menutup kebutuhan 1-2% listrik yang semula dipasok gas. TIM RISET CNBC INDONESIA (mae/mae)

This is Indo Tambangraya (ITMG)'s Step to Pursue Production of 18.8 Million Tons

of Coal

Reporter: Filemon Agung | Editor: Tendi Mahadi

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T INDO Tambangraya Megah Tbk (ITMG) targets coal production to reach 18.8 million tons by 2022.

Begini Jurus Indo Tambangraya (ITMG) untuk Mengejar Produksi 18,8 Juta Ton

Batubara

Reporter: Filemon Agung | Editor: Tendi Mahadi

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T INDO Tambangraya Megah Tbk (ITMG) menargetkan produksi batubara dapat mencapai 18,8 juta ton pada tahun 2022.

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ITMG Director of Corporate Communi- cations & Investor Relations Yulius Gozali said coal production volume for this year is targeted at around 17.5 million tons to 18 million tons. 8 million tons.

Meanwhile, this target increased slightly from the realization in 2021 which amounted to 18.2 million tons.

Yulius revealed that a number of strategies were prepared by the company in order to pursue production targets for this year.

These targets include production optimization to cost management.

"We will maximize production by continuously improving cost management, increasing mining infrastructure capacity, monitoring and evaluating the performance of mining contractors, and managing mining operations effectively and efficiently," said Yulius to Kontan, Monday (25/7).

Yulius added, in an effort to achieve this production target, one of the influencing factors is rainfall. According to him, currently the rainfall in each mine is quite varied.

"Some mines have quite favorable weather, while in other mines there is higher rainfall than expected," explained Yulius.

Apart from rainfall, a number of other challenges in the production process include high fuel prices and contractor performance which also affect production.

Nevertheless, Yulius ensured that his party will continue to meet the production targets that have been announced. On the other hand, the positive trend in coal prices in the first semester of 2022 is recognized as having a positive effect on ITMG's financial performance. He ensured that in the future the company will continue to take advantage of this price momentum.

Direktur Komunikasi Korporat & Hubungan Investor ITMG Yulius Gozali mengungkapkan, volume produksi batubara untuk tahun ini ditargetkan pada kisaran 17,5 juta ton hingga 18,8 juta ton.

Adapun, target ini meningkat tipis dari realisasi tahun 2021 yang sebesar 18,2 juta ton.

Yulius mengungkapkan, sejumlah strategi disiapkan perusahaan demi mengejar target produksi untuk tahun ini. Sejumlah target tersebut meliputi optimalisasi produksi hingga manajemen biaya.

"Kami akan memaksimalkan produksi dengan terus-menerus meningkatkan manajemen biaya, menambah kapasitas infrastruktur tambang, melakukan pengawasan dan evaluasi terhadap kinerja kontraktor pertambangan, dan mengelola operasi tambang dengan efektif dan efisien," ungkap Yulius kepada Kontan, Senin (25/7).

Yulius menambahkan, dalam upaya mencapai target produksi ini, salah satu faktor yang mempengaruhi yakni curah hujan.

Menurutnya, saat ini curah hujan di setiap tambang cukup beragam.

"Beberapa tambang cuacanya cukup kondusif, sedangkan di tambang lain terdapat curah hujan yang lebih tinggi dari ekspektasi,"

terang Yulius.

Tak hanya curah hujan, sejumlah tantangan lain dalam proses produksi antara lain tingginya harga bahan bakar serta kinerja kontraktor yang turut mempengaruhi produksi.

Kendati demikian, Yulius memastikan pihaknya akan berupaya untuk tetap memenuhi target produksi yang telah dicanangkan. Di sisi lain, tren positif harga batubara di semester I 2022 diakui turut memberikan efek positif untuk kinerja keuangan ITMG. Ia memastikan, ke depannya perusahaan akan terus memanfaatkan momentum harga ini.

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Kontan noted, until the first quarter of 2022, ITMG posted net sales of US$ 640 million, up 125% from the first quarter of 2021 worth US$ 284 million.

In the first three months of 2022, ITMG obtained an average selling price or average selling price (ASP) of coal of US$

150 per ton. This ASP is 121% higher than the same period last year.

Meanwhile, ITMG's net profit increased 407%, from US$ 42 million in the first quarter of 2021 to US$ 213 million in the same period this year. Throughout the first quarter of 2022, ITMG has produced 3.8 million tons of coal. Meanwhile, the realization of sales reached 4.3 million tons.

Yulius continued, the capital expenditure allocation for this year reached US$ 68.8 million.

The capital expenditure allocation is planned to be used for infrastructure development at the Bharinto Ekatama (BEK) mine, replacement of heavy equipment for the company's mining contractor business (TRUST) to investment in renewable businesses.

Kontan mencatat, hingga kuartal I 2022, ITMG membukukan penjualan bersih sebesar US$ 640 juta, naik 125% dari kuartal pertama 2021 senilai US$ 284 juta.

Pada kurun waktu tiga bulan pertama 2022, ITMG memperoleh rata-rata harga jual atau average selling price (ASP) batubara sebesar US$ 150 per ton. ASP ini lebih tinggi 121%

dari periode yang sama tahun lalu.

Sementara itu, laba bersih ITMG ter- dongkrak naik 407%, dari semula US$ 42 juta pada triwulan pertama tahun 2021 menjadi US$ 213 juta pada kurun waktu yang sama tahun ini. Sepanjang kuartal pertama 2022, ITMG telah memproduksi batubara sebanyak 3,8 juta ton. Sementara untuk realisasi penjualan mencapai 4,3 juta ton.

Yulius melanjutkan, alokasi belanja modal untuk tahun ini mencapai US$ 68,8 juta.

Alokasi belanja modal tersebut rencananya akan digunakan untuk pengembangan infrastruktur di tambang Bharinto Ekatama (BEK), penggantian alat-alat berat untuk bisnis kontraktor pertambangan perusahaan (TRUST) hingga investasi bisnis ter- barukan.

Spend Rp 17.23 Trillion, Freeport Smelter Progress is

34.9 Percent

Author: Nyoman Ary Wahyudi

P

T FREEPORT Indonesia (PTFI) reports that the construction of a metal mineral refining and processing plant or a copper concentrate smelter in the JIIPE Special Economic Zone (SEZ), Gresik, East Java has reached 34.9 percent of the set target.

Habiskan Rp17,23 Triliun, Progres Smelter Freeport 34,9

Persen

P

T FREEPORT Indonesia (PTFI) melapor- kan perkembangan pembangunan pabrik pemurnian dan pengolahan mineral logam atau smelter konsentrat tembaga di Kawasan Ekonomi Khusus (KEK) JIIPE, Gresik, Jawa Timur telah mencapai 34,9 persen dari target yang ditetapkan.

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Spokesperson for PT Freeport Indonesia Riza Pratama said that his party completed the construction of the smelter with the largest single line design in the world and is targeted for completion by the end of 2023. Meanwhile, PTFI targets production to start in May 2024.

"Currently, the progress of the smelter construction until June 2022 has reached 34.9 percent with funds that have been spent amounting to US$1.15 billion [equivalent to Rp.17.23 trillion, exchange rate of Rp.14,989]," Riza said when contacted, Tuesday (26/7/2022).

Riza said PTFI together with the government used the S curve of development which became the benchmark for the completion of the smelter construction. Until the end of June 2022, Riza said, the smelter construction project was still in accordance with the established timeline.

"And the target until the end of the year is still in line with the plan in the S curve," he said.

On the other hand, he revealed that the prices of metal and mineral commodities which have recently begun to appear sloping do not have a significant effect on the operations and efforts to accelerate the construction of the copper concentrate smelter.

In fact, he is optimistic that the demand for copper in the world market will continue to increase in line with the need for electrification and the development of electric vehicles in the future.

"One of the drivers is the need for electrification and development of green energy which will require a lot of copper," he said.

As previously reported, the Indonesian Mining Association (IMA) reported that the construction of a metal mineral refining and processing plant or smelter was relatively slow due to a lack of funding.

Juru bicara PT Freeport Indonesia Riza Pratama mengatakan pihaknya menye- lesaikan konstruksi smelter dengan desain single line terbesar di dunia itu ditargetkan rampung pada akhir 2023. Sementara itu, PTFI menargetkan produksi dapat dimulai pada Mei 2024.

“Saat ini progres pembangunan smelter hingga Juni 2022 sudah mencapai 34,9 persen dengan dana yang sudah dikeluar- kan sebesar US$1,15 miliar [setara Rp 17,23 triliun, kurs Rp14.989],” kata Riza saat dihubungi, Selasa (26/7/2022).

Riza mengatakan PTFI bersama dengan pemerintah menggunakan kurva S pembangunan yang menjadi patokan untuk penyelesaian pembangunan smelter.

Hingga akhir Juni 2022, Riza mengatakan, proyek pembangunan smelter masih sesuai dengan lini waktu yang ditetapkan.

“Dan untuk target sampai akhir tahun masih sejalan dengan rencana dalam kurva S,” ujarnya.

Di sisi lain, dia mengungkapkan harga komoditas logam dan mineral yang belakangan mulai terlihat melandai tidak berpengaruh signifikan pada operasional dan upaya percepatan pembangunan smelter konsentrat tembaga tersebut.

Malahan, dia optimis, tren permintaan komoditas tembaga di pasar dunia akan terus meningkat seiring dengan kebutuhan untuk elektrifikasi dan pengembangan kendaraan listrik ke depan.

“Salah satu pendorongnya adalah kebutuhan untuk elektrifikasi dan pengembangan energi hijau yang akan memerlu- kan banyak tembaga,” kata dia.

Seperti diberitakan sebelumnya, Indonesian Mining Association (IMA) melaporkan perkembangan pembangunan pabrik pemurnian dan pengolahan mineral logam atau smelter relatif berjalan lamban akibat seretnya pendanaan.

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IMA Acting Executive Director Djoko Widajatno said that the condition was also corrected further with the trend of mineral and metal prices starting to sag on the futures exchange with the largest market in the world, the London Metal Exchange (LME) entering the end of the second quarter of this year. Nevertheless, Djoko is optimistic that the downward trend in prices will not last long following the opportunity for a demand reversal in the second half of 2022.

“Markets are influenced by the European Union Central Bank to lower the prices of the commodities they need, otherwise they can't pay interest. Like Tin, this has decreased by 1.75 percent, but it's still okay because we can still cover operational costs," said Djoko when contacted, Tuesday (26/7/2022). Editor : Fitri Sartina Dewi

Plh. Direktur Eksekutif IMA Djoko Widajatno mengatakan kondisi itu turut dikoreksi lebih dalam dengan kecenderungan harga mineral dan logam yang mulai melandai di Bursa berjangka dengan pasar terbesar di dunia, London Metal Exchange (LME) memasuki akhir triwulan kedua tahun ini. Kendati demikian, Djoko optimis, tren pelandaian harga itu tidak bakal berlangsung lama menyusul peluang pembalikan permintaan pada paruh kedua 2022.

“Pasar dipengaruhi Bank Sentral Uni Eropa untuk menurunkan harga-harga komoditas yang mereka perlukan, kalau tidak mereka tidak bisa membayar bunga. Seperti Timah ini sudah turun 1,75 persen, tapi masih oke karena kita masih bisa tutup biaya operasional,” kata Djoko saat dihubungi, Selasa (26/7/2022). Editor : Fitri Sartina Dewi

H2 2022: Opportunities and challenges for Indonesia

Faisal Rachman (Bank Mandiri) (The Jakarta Post)

I

N THE FIRST half of the year, despite the ongoing battle against COVID-19 pandemic and the uncertainty surrounding the global economy, Indonesia’s economy has managed to keep recovering steadily.

The largest economy in Southeast Asia is expected to expand by around 5 percent year-on- year (yoy) in the first semester of 2022, back to its pre-pandemic average growth rate. This result is greatly influenced by a robust pandemic management and high vaccination level, allowing the government to ease restrictions on public mobility.

Global supply chain disruptions amid the global recovery imbalance have led to a surge in commodity prices. The situation has been exacerbated by Russia's invasion of Ukraine, leading to the global energy and food crises. Yet, it has generated a windfall profit for Indonesia.

Indonesia is among the world’s largest commodities exporter, particularly for coal and crude palm oil. As a result, it has maintained a large trade surplus, accumulating US$24.9 billion in the first semester of 2022, more than double the $11.8 billion it booked in the first half of 2021.

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Exports reported significant growth of 37.1 percent yoy, and the current account is expected to continue posting a surplus. This provides a positive catalyst for a stable rupiah exchange rate amid the rising threat of “risk off” due to more aggressive and faster global monetary normalization during the current environment of soaring inflation.

Moreover, the windfall has substantially increased state revenue. Thus, Indonesia’s fiscal balance for the first half of the year has recorded a 0.4 percent surplus of gross domestic product. This has enabled the government to pump additional funds for energy subsidies, meaning that the prices of subsidized fuel, liquefied petroleum gas (LPG) and electricity can be maintained throughout the year to help withstand rising inflationary pressure.

Indonesia’s headline inflation rate was 4.35 percent yoy in June 2022, already above the inflation target range of 3 percent, plus/minus 1 percent. However, this was mainly because of volatile price inflation rather than core inflation.

Volatile price inflation is at 10.07 percent yoy, primarily driven by food ingredient inflation of 9.57 percent yoy amid inclement weather at several major production hubs. Administered price inflation, meanwhile, is at a lower rate of 5.33 percent yoy, with energy inflation at 4.20 percent yoy, thanks to the additional subsidies.

Core inflation, which excludes volatile and administered price inflation and therefore can reflect more on demand recovery, continues to gradually rise to 2.63 percent yoy. Compared with other countries, Indonesia’s inflation rate is still relatively low and manageable, giving room for Bank Indonesia to avoid rushing to hike its policy rate (BI 7-day Reverse Repo Rate).

This could support the ongoing economic recovery to some extent.

Global uncertainty, unfortunately, is not going to fade away in the second half of the year. This presents another challenge to Indonesia’s economic recovery, going forward. Persistent, soaring global inflation followed by more hawkish monetary normalization has triggered the fear of a global recession or stagflation, meaning that global demand is expected to wane in the future.

As such, global energy and food prices have begun to indicate a general reversal. Although this could suggest that the inflationary pressure from the energy and food supply shock might subside, the situation could weaken Indonesia’s export performance and thus, state revenue.

Furthermore, as capital outflows are likely to continue, especially in the portfolio market, the trade surplus could see a narrowing trend to pressure foreign exchange reserves and rupiah stability. A depreciating rupiah might instead lead to imported inflation.

A foreign exchange inflow, including export proceeds, is also constrained by widening differences in interest rates between Indonesia and other countries that have already hiked their policy rates. It is now more lucrative to deposit foreign currencies abroad.

On the bright side, Indonesia’s economic recovery still has a chance to accelerate in the second half of 2022. The likelihood of the country plunging into a recession is just 3 to 5 percent, according to the market consensus.

The price of coal, Indonesia’s main export commodity, remains in an upward trend. Although demand from China may weaken due to Beijing’s zero-COVID policy, demand from the eurozone is improving, as the region has decided to cut down on energy imports from Russia.

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This, in turn, could support export performance in the second semester, retaining the trade surplus and the stability of rupiah exchange rate. In addition, State Budget revenue might still be maintained so that it could assist stability and accelerate growth.

Another support for growth in the second half comes from the domestic side.

If Indonesia can keep its daily COVID-19 figures in check, public mobility restrictions can be eased further, which will strengthen domestic demand. Private consumption contributes more than half of GDP.

Indonesia could see an opportunity to accelerate economic growth in the third quarter, as there is a low base effect from the Delta wave in the third quarter of 2021. During that period, the government introduced and imposed the public activity restrictions, which significantly reduced economic activities.

With healthy domestic demand, steady export growth, prudent fiscal condition and manageable COVID-19 transmission, we view that the Indonesian economy can still expand at around 5.17 percent this year, stronger than last year’s growth of 3.69 percent.

Headline inflation, which has surpassed the target range, might hurt household purchasing power to a certain degree. Yet, high export performance of key commodities could keep generating windfall export earnings and fiscal revenue. This will allow the government to increase the energy subsidy and disburse temporary unconditional cash transfers while still reducing the budget deficit toward fiscal consolidation in 2023.

Check out United Tractors (UNTR) Operational Performance

Until Semester I-2022

Reporter: Akhmad Suryahadi | Editor:

Anna Suci Perwitasari

P

T UNITED Tractors Tbk (UNTR) has reported the results of its operational performance for the semester I-2022. As a result, a number of business lines have increased, one of which is the Komatsu heavy equipment sales line.

During the first six months of 2022, the issuer, a subsidiary of PT Astra International Tbk (ASII), recorded sales of 2,873 heavy equipment units. This figure is up 111.09%

from the realization of sales in the same period last year which was 1,361 units.

Simak Kinerja Operasional United Tractors (UNTR) Hingga

Semester I-2022

Reporter: Akhmad Suryahadi | Editor:

Anna Suci Perwitasari

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T UNITED Tractors Tbk (UNTR) telah melaporkan hasil kinerja operasional untuk periode semester I-2022. Hasilnya, sejumlah lini bisnis mengalami peningkatan, salah satunya yakni lini penjualan alat berat Komatsu

Sepanjang enam bulan pertama 2022, emiten anak usaha PT Astra International Tbk (ASII) ini mencatatkan penjualan alat berat sebanyak 2.873 unit. Angka tersebut melesar 111,09% dari realisasi penjualan pada periode yang sama tahun lalu yang sebanyak 1.361 unit.

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In June 2022 alone, UNTR sold 473 heavy equipment. This number is up 40% from sales in May 2022 of 338 units. When compared to sales in June 2021, this realization shot up 66%, where in the same period last year, Komatsu sales were only 285 units.

In the mining contractor segment, through its subsidiary, Pamapersada Nusantara (Pama), UNTR reported overburden removal (OB) production of 436.5 million bank cubic meters (bcm). This figure is up 6.65% from the same period last year which was 409.6 million bcm.

However, the realization of UNTR's coal production fell 14.85% from 58 million tons to 50.4 million tons in January-June 2022.

In the coal trading segment, UNTR through its business entity, namely PT Tuah Turangga Agung (TTA) reported selling 5.80 million tons of coal during January- June 2022. This number was corrected by 7.56% when compared to sales in the same period last year of 6 ,28 million tons.

Meanwhile in the period of June 2022 alone, TTA sold 666,000 tons of coal, a decrease of 42.08% from sales in May 2022 which reached 1.15 million tons.

The decline also occurred in the gold mining segment through its subsidiary, Agincourt Resources. UNTR posted sales of 143,776 Gold Equivalent Ounces (GEOs) of gold during the January-June 2022 period, or down 18.17% from sales realization in the same period last year.

Di bulan Juni 2022 saja, UNTR menjual 473 alat berat. Jumlah ini naik 40% dari penjualan di Mei 2022 sebesar 338 unit.

Jika dibandingkan dengan penjualan di Juni 2021, realisasi ini melesat 66%, dimana pada periode yang sama tahun lalu, penjualan Komatsu hanya 285 unit.

Di segmen kontraktor pertambangan, UNTR melalui anak usahanya yakni Pamapersada Nusantara (Pama), UNTR melaporkan produksi lapisan penutup atau overburden removal (OB) sebanyak 436,5 juta bank cubic meter (bcm). Angka ini naik 6,65% dari periode yang sama tahun lalu yang sebesar 409,6 juta bcm.

Namun, realisasi produksi batubara UNTR turun 14,85% dari 58 juta ton menjadi 50,4 juta ton pada Januari-Juni 2022.

Di segmen perdagangan batubara, UNTR melalui entitas usahanya yakni PT Tuah Turangga Agung (TTA) melaporkan menjual 5,80 juta ton batubara sepanjang Januari-Juni 2022. Jumlah ini terkoreksi 7,56% jika dibandingkan dengan penjualan di periode yang sama tahun lalu sebesar 6,28 juta ton.

Sementara di periode Juni 2022 sendiri, TTA menjual 666.000 ton batubara, menurun 42,08% dari penjualan di Mei 2022 yang mencapai 1,15 juta ton.

Penurunan juga terjadi pada segmen tambang emas lewat anak usahanya yakni Agincourt Resources. UNTR membukukan penjualan 143,776 Gold Equivalent Ounces (GEOs) emas sepanjang periode Januari- Juni 2022, atau turun 18,17% dari realisasi penjualan di periode yang sama tahun lalu.

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Already Revised, UNTR Opens Up Options Again, Revised Sales

Target

Teti Purwanti, CNBC Indonesia

P

T UNITED Tractors Tbk (UNTR) during the first semester of 2022 managed to realize sales of heavy equipment of up to 2,873 units. This number jumped 111.09%

over the same period last year.

Not surprisingly, UNTR revised its heavy equipment sales target from 3,800 units to 4,800 units by the end of the year. Ari Setiyawan, Investor Relations of UNTR, said that he is still reviewing the market and supply from the principal.

"We will continue to review the development of the heavy equipment market and supply from principals. If the heavy equipment market continues to grow and more than the assumptions we made previously, it is possible that we will review again following the development of the heavy equipment market, which continues to grow," said Ari. to CNBC Indonesia, Tuesday (26/7/2022).

Komatsu's market share or market share as of June 2022 in the monthly operational report quoted Tuesday (26/7/2022) is 28%. Sales were still dominated by the mining sector, which reached 61% of total sales, followed by the construction sector at 18%. Furthermore, sales to the forestry sector are 12% and the agribusiness sector is 9% of total sales. In June alone, UNTR sold 473 heavy equipment.

Sudah Revisi, UNTR Kembali Buka Opsi Revisi Target

Penjualan

Teti Purwanti, CNBC Indonesia

P

T UNITED Tractors Tbk (UNTR) sepanjang semester I 2022 berhasil me- realisasikan penjualan alat berat hingga 2.873 unit. Jumlah ini lompat 111,09%

dibanding periode yang sama pada tahun lalu.

Tidak heran, UNTR merevisi target penjualan alat berat yang semula 3.800 unit menjadi 4.800 unit hingga akhir tahun.

Ari Setiyawan, Investor Relation UNTR mengatakan masih mengkaji pasar dan pasokan dari prinsipal.

"Kami akan terus mengkaji perkembangan market alat berat dan pasokan dari prinsipal. Sekiranya, pasar alat berat terus berkembang dan lebih dari asumsi yang kami buat sebelumnya, tidak menutup kemungkinan akan kami review kembali mengikuti perkembangan pasar alat berat yang tren terus berkembang," jelas Ari kepada CNBC Indonesia, Selasa (26/7/

2022).

Pangsa pasar atau pangsa pasar Komatsu per Juni 2022 dalam laporan operasional bulanan dikutip Selasa (26/7/2022) sebesar 28%. Penjualan masih didominasi oleh sektor pertambangan, yakni mencapai 61% dari total penjualan, disusul oleh sektor konstruksi sebesar 18%. Selanjut- nya, penjualan ke sektor kehutanan sebesar 12% dan sektor agribisnis sebesar 9% dari total penjualan. Di bulan Juni saja, UNTR menjual 473 alat berat.

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UNTR is optimistic that the heavy equipment industry business in 2022 will continue to improve following the trend that occurs throughout 2021. The issuer, a subsidiary of PT Astra International Tbk (ASII), targets to sell 3,700 heavy equipment throughout 2022.

United Tractors Director Iman Nurwahyu said that of the target of 3,700 heavy equipment sold throughout 2022, 800 of them are large machinery units for mining needs. Iman believes that this target will be achieved because a number of indications support the projection so far.

"The facts show that from January- February sales achievements, the indications of the market going up are clear, so we slowly together with the principal have given signals to the factory to continue to prepare supplies to pursue market opportunities," Iman said at a press conference, Friday (8/4/2022).

Throughout 2022, UNTR will allocate capital expenditure (capex) of US$ 750 million - US$ 800 million. This value is up by more than 295% compared to the 2021 capex of US$ 190 million.

"Most of the allocation is to support capital expenditures in our mining services and mining businesses of around US$ 570 million, and we will spend US$ 170 million on gold mining for factory infrastructure development. The rest will be divided equally for other businesses," said United Tractors Director of Finance and Accounting, Iwan Hadiantoro. (RCI/dhf)

UNTR optimistis bisnis industri alat berat pada 2022 akan terus membaik mengikuti tren yang terjadi sepanjang 2021. Emiten anak usaha PT Astra International Tbk (ASII) ini menargetkan bisa menjual 3.700 alat berat sepanjang 2022.

Direktur United Tractors Iman Nurwahyu mengatakan, dari target 3.700 alat berat yang dijual sepanjang 2022, 800 di antaranya adalah unit mesin besar untuk kebutuhan pertambangan. Iman yakin target ini akan tercapai karena sejumlah indikasi mendukung proyeksi tersebut hingga kini.

"Fakta menunjukkan dari achievement penjualan Januari - Februari indikasi market naik nampak jelas, sehingga kami perlahan bersama principal telah memberi sinyal ke pabrik untuk terus siapkan suplai mengejar peluang market," kata Iman dalam konferensi pers, Jumat (8/4/2022).

Sepanjang 2022, UNTR mengalokasikan belanja modal atau capital expenditure (capex) senilai US$ 750 juta - US$ 800 juta.

Nilai ini naik lebih dari 295% dibandingkan dengan capex 2021 yaitu US$

190 juta.

"Alokasinya sebagian besar untuk mendukung belanja modal di bisnis mining services sama mining kita sekitar US$ 570 juta, dan tambang emas pengembangan infrastruktur pabrik akan kami keluarkan US$ 170 juta. Sisanya dibagi rata untuk bisnis lainnya," kata Direktur Keuangan dan Akunting United Tractors Iwan Hadiantoro. (RCI/dhf)

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EMR Ministry Optimistic that Seven Smelters Will Continue to

Operate By End of This Year

T

HE MINISTRY of Energy and Mineral Resources (MEMR) ensures that the target of adding seven metal mineral refining and processing plants or smelters, which can operate by the end of this year, will not shift amid declining commodity prices and funding for the national strategic project (PSN) still drag.

Special Staff of the Minister of EMR, Irwandy Arif, said that the downward trend in mineral and metal commodity prices would not have a significant impact on a number of large companies, which are working on smelter projects this year. In fact, the profits that were obtained due to high prices earlier this year are expected to be allocated to accelerate the construction of their smelters.

"Companies that are still well-established will not have a significant impact. Unless there are extreme things that happen,"

Irwandy told Bisnis, Tuesday (26/7/2022).

According to Irwandy, the recent downward movement in commodity prices is still temporary or has the potential to fluctuate following supply and demand factors in world markets. This means that the pressure on commodity prices is not significant to correct this year's smelter project funding.

"One of the predictions of commodity prices will be sloping, but there is also a prediction that prices cannot be predicted because the situation is very dynamic and unpredictable," he added.

Kementerian ESDM Optimistis Tujuh Smelter Tetap Beroperasi

Pada Akhir Tahun Ini

K

EMENTERIAN Energi dan Sumber Daya Mineral (ESDM) memastikan target penambahan tujuh pabrik pemurnian dan pengolahan mineral logam atau smelter, yang dapat beroperasi pada akhir tahun ini, tidak bergeser di tengah harga komoditas yang mulai melandai dan pendanaan proyek strategis nasional (PSN) itu yang masih seret.

Staf Khusus Menteri ESDM Irwandy Arif mengatakan bahwa tren pelandaian harga komoditas mineral dan logam tidak bakal berdampak signifikan pada sejumlah perusahaan besar, yang tengah mengerjakan proyek smelter tahun ini. Malahan, keuntungan yang sempat didapat akibat harga tinggi awal tahun ini diharapkan dapat dialokasikan untuk percepatan pembangunan smelter mereka.

"Perusahaan yang masih mapan tidak akan berpengaruh signifikan. Kecuali ada hal-hal ekstrem yang terjadi," kata Irwandy kepada Bisnis, Selasa (26/7/2022).

Menurut Irwandy, pergerakan harga komoditas yang belakangan menurun itu masih bersifat sementara alias berpotensi fluktuatif mengikuti faktor pasokan dan permintaan di pasar dunia. Artinya, tekanan pada harga komoditas tidak signifikan untuk mengoreksi pendanaan proyek smelter tahun ini.

"Salah satu prediksi harga komoditas akan melandai, namun ada juga prediksi bahwa harga tidak dapat diramalkan karena situasi sangat dinamis dan tidak dapat diduga," imbuhnya.

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Thus, the total number of smelters that will effectively operate until the end of this year will reach 28 units to accelerate efforts to downstream mineral and metal commodities in the country.

"The development of the smelter construction until 2021 has 21 operating smelters, then if we look at the 2022 plan, there will be an additional seven smelters, of course if we look, hopefully it can run smoothly until the end of 2022, it will be 28 smelters," said Irwandy.

Meanwhile, the Ministry of EMR noted that the total investment needed for efforts to accelerate the construction of smelters until 2023 reached US$30 billion or equivalent to Rp437.1 trillion. The budget plan is up 36.3 percent from the initial position set at US$22 billion or equivalent to Rp320.54 trillion in 2021.

"Until 2023, the cost according to last year's calculation is around US$22 billion, let's say there is inflation, the maximum price increase could be US$30 billion so that the plan to build the smelter until 2023 can be fulfilled," he said.

As previously reported, the Indonesian Mining Association (IMA) reported that the construction of a metal mineral refining and processing plant or smelter was relatively slow due to a lack of funding. In fact, most of the funding constraints are experienced by a number of smelters that are part of the National Strategic Project (PSN).

IMA Executive Director Djoko Widajatno said that the condition was also corrected further with the tendency of mineral and metal prices to begin to sag on the Futures Exchange with the largest market in the world, the London Metal Exchange (LME) entering the end of the second quarter of this year. Nevertheless,...

Dengan demikian, total smelter yang bakal efektif beroperasi hingga akhir tahun ini mencapai 28 unit untuk mempercepat upaya penghiliran komoditas mineral dan logam dalam negeri.

"Perkembangan pembangunan smelter sampai 2021 itu sudah ada 21 smelter beroperasi yang kemudian kalau kita lihat rencana 2022 itu akan ada tambahan lagi tujuh smelter, tentunya kalau kita lihat mudah-mudahan bisa berjalan lancar hingga akhir 2022 itu menjadi 28 smelter," ungkap Irwandy.

Adapun, Kementerian ESDM mencatat total investasi yang dibutuhkan untuk upaya percepatan pembangunan smelter hingga 2023 mencapai US$30 miliar atau setara dengan Rp437,1 triliun. Rencana anggaran itu naik 36,3 persen dari posisi awal yang dipatok sebesar US$22 miliar atau setara dengan Rp320,54 triliun pada 2021 lalu.

"Sampai 2023 itu dibutuhkan biaya pada perhitungan tahun lalu sekitar US$22 miliar, katakanlah ada inflasi kenaikan harga mak- simum bisa US$30 miliar supaya rencana pendirian smelter itu sampai 2023 bisa terpenuhi," tuturnya.

Seperti diberitakan sebelumnya, Indonesian Mining Association (IMA) melaporkan perkembangan pembangunan pabrik pemurnian dan pengolahan mineral logam atau smelter relatif berjalan lamban akibat seretnya pendanaan. Malahan, sebagian besar kendala pendanaan itu dialami oleh sejumlah smelter yang menjadi bagian dari Proyek Strategis Nasional (PSN).

Pelaksana Harian Direktur Eksekutif IMA Djoko Widajatno mengatakan bahwa kondisi itu turut dikoreksi lebih dalam dengan kecenderungan harga mineral dan logam yang mulai melandai di Bursa Berjangka dengan pasar terbesar di dunia, London Metal Exchange (LME) memasuki akhir triwulan kedua tahun ini. Kendati demikian,...

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Nevertheless, Djoko is optimistic that the downward trend in prices will not last long following the opportunity for a demand reversal in the second half of 2022.

"The market is influenced by the European Union Central Bank to lower the prices of the commodities they need, otherwise they can't pay interest. Like tin, it has fallen by 1.75 percent, but it's still okay because we can still cover operating costs," said Djoko when contacted on Tuesday (26/7/2022).

Djoko explained that this situation would help reduce funding for the acceleration of domestic smelter construction, which is targeted to be completed in the next 2 years. Meanwhile, Djoko said, funding issues were the main obstacle in efforts to accelerate the construction of smelters after the Covid-19 pandemic. Editor : Aprianus Doni Tolok

Kendati demikian, Djoko optimistis, tren pelandaian harga itu tidak bakal berlangsung lama menyusul peluang pembalikan permintaan pada paruh kedua 2022.

"Pasar dipengaruhi Bank Sentral Uni Eropa untuk menurunkan harga-harga komoditas yang mereka perlukan, kalau tidak mereka tidak bisa membayar bunga. Seperti Timah ini sudah turun 1,75 persen, tapi masih oke karena kita masih bisa tutup biaya operasional," kata Djoko saat dihubungi, Selasa (26/7/2022).

Djoko menerangkan situasi itu bakal ikut menekan pendanaan percepatan pembangunan smelter di dalam negeri yang ditarget rampung 2 tahun ke depan. Adapun, Djoko mengatakan, isu pendanaan menjadi kendala utama dari upaya percepatan pembangunan smelter setelah pandemi Covid-19. Editor : Aprianus Doni Tolok

Support Tuberculosis Free, Agincourt Resources Launches

ENTAS-TB Program

Author: Rian Wahyuddin

P

T AGINCOURT Resources (PTAR), the manager of the Martabe Gold Mine, launched the Program Towards Tuber- culosis-Free South Tapanuli (ENTAS-TB) and disbursed Rp450 million in funds to reduce the incidence of the infectious disease tuberculosis in South Tapanuli, North Sumatra.

The program is expected to help the Indonesian government's target of reducing the incidence of Tuberculosis (TB) and reducing TB deaths at the national level. The ENTAS-TB Program cooperation agreement...

Dukung Bebas Tuberkulosis, Agincourt Resources Canangkan

Program ENTAS-TB

Penulis: Rian Wahyuddin

P

T AGINCOURT Resources (PTAR), pengelola Tambang Emas Martabe, meluncurkan Program Menuju Tapanuli Selatan Bebas Tuberkulosis (ENTAS-TB) dan menggelontorkan dana sebesar Rp450 juta guna menekan insiden penyakit menular tuberkulosis di Tapanuli Selatan, Sumatra Utara.

Program tersebut diharapkan bisa membantu target pemerintah Indonesia dalam menurunkan insiden Tuberkulosis (TB) dan penurunan kematian TB tingkat nasional. Perjanjian kerjasama Program ENTAS-TB...

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The ENTAS-TB Program cooperation agreement for 2022 has been signed by PTAR, the South Tapanuli Health Office, and the Koninklijke Nederlandse Centrale Vereniging tot bestrijding der Tuberculose (KNCV) Indonesia Foundation on 20 July 2022.

PTAR General Manager Operations, Rahmat Lubis, said health is one of the five pillars of the implementation of the Community Development Program held by PTAR.

“In our health program, we focus on revitalizing and accelerating the quality of public health services. For example, improving the quality of health for the elderly, healthy teenagers, pregnant women, children, and the general public,"

said Rahmat.

The ENTAS-TB program aims to help solve health problems in South Tapanuli. Based on data from the Indonesian KNCV Foundation, in South Tapanuli there were 378 TB cases. This figure is equivalent to 36% of the estimated 1,037 cases as of 2021.

Meanwhile, in the Elimination Roadmap compiled by the Ministry of Health, Indonesia's target in 2030 is to reduce TB incidence by 90% and reduce TB deaths by 95% compared to 2014.

PTAR Community Senior Manager, Christine Pepah, said the ENTAS-TB Program supports the acceleration of TB elimination in 2030 through the development of partnership networks and capacity building with active case finding and mentoring of TB patients in South Tapanuli. Specifically, this program will produce Regional Action Plan Documents and Cross-Sectoral Forums for the elimination of TB by 2030.

Perjanjian kerjasama Program ENTAS-TB untuk tahun 2022 telah diteken PTAR, Dinas Kesehatan Tapanuli Selatan, dan Yayasan Koninklijke Nederlandse Centrale Vereniging tot bestrijding der Tuberculose (KNCV) Indonesia pada 20 Juli 2022.

General Manager Operations PTAR, Rahmat Lubis, mengatakan kesehatan merupakan salah satu dari lima pilar implementasi Program Pengembangan Komunitas yang diadakan PTAR.

“Di program kesehatan kami fokus pada revitalisasi dan akselerasi mutu dan layanan kesehatan masyarakat. Misalnya saja peningkatan kualitas kesehatan bagi lansia, remaja sehat, ibu hamil, anak-anak, dan masyarakat umum,” tutur Rahmat.

Program ENTAS-TB bertujuan membantu menuntaskan masalah kesehatan di Tapanuli Selatan. Berdasarkan data Yayasan KNCV Indonesia, di Tapanuli Selatan terdapat 378 kasus TB. Angka ini setara dengan 36% dari perkiraan 1.037 kasus per 2021.

Sementara, dalam Peta Jalan Eliminasi yang disusun Kementerian Kesehatan, target Indonesia pada 2030 yakni 90%

penurunan insiden TB dan 95% penurunan kematian TB dibandingkan dengan 2014.

Senior Manager Community PTAR, Christine Pepah, mengatakan Program ENTAS-TB mendukung percepatan eliminasi TB 2030 melalui pengembangan jejaring kemitraan dan peningkatan kapasitas dengan penemuan kasus secara aktif dan pendampingan pasien TB di Tapanuli Selatan. Secara spesifik, program ini akan melahirkan Dokumen Rencana Aksi Daerah dan Forum Lintas Sektoral untuk eliminasi TB 2030.

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"This program will also strengthen the capacity of health workers and TB cadres in active discovery and encourage cross- sectoral forums to create TB-free pilot villages in seven target villages in two sub- districts, namely Batangtoru and Muara Batangtoru," said Christine.

The seven target villages are Aek Pining Village, Telo Village, Batuhula Village, Hapesong Lama Village, Wek Village, Terapung Raya Village, and Bandar Hapinis Village.

The head of the South Tapanuli Health Service, Sri Khairunnisa, said that the ENTAS-TB program, which is currently focused on two sub-districts, namely Batangtoru and Muara Batangtoru, could be adopted in other sub-districts in the future.

“The program carried out by PTAR supports the activities that have been carried out by the Regency Government.

We hope that this program can become a pilot project adopted by other sub-districts to accelerate TB elimination," said Sri.

She appreciated PTAR who had held the ENTAS-TB Program to help solve TB in South Tapanuli and contributed to solving the problem of TB infectious disease in Indonesia.

Also in July 2022, PTAR launched the Posyandu Revitalization Program in seven pilot villages towards Martabe Sehat Village in Batangtoru District and Muara Batangtoru District. The program embraces the South Tapanuli Health Office and health service provider CV Sinergi Medika Indonesia.

Posyandu revitalization is targeted to be able to improve the nutritional status and health of mothers and children. In addition, the revitalization of posyandu can improve posyandu strata and posyandu management systems in the seven target villages.

“Program ini juga akan memperkuat kapasitas petugas kesehatan dan kader TB dalam penemuan secara aktif dan mendorong forum lintas sektor mewujudkan desa percontohan bebas TB di tujuh desa target di dua kecamatan, yakni Batangtoru dan Muara Batangtoru,” ujar Christine.

Tujuh desa target yaitu Kelurahan Aek Pining, Desa Telo, Desa Batuhula, Desa Hapesong Lama, Kelurahan Wek, Desa Terapung Raya, dan Desa Bandar Hapinis.

Kepala Dinas Kesehatan Tapanuli Selatan, Sri Khairunnisa, mengatakan Program ENTAS-TB yang saat ini difokuskan di dua kecamatan, yaitu Batangtoru dan Muara Batangtoru, ke depannya bisa diadopsi di kecamatan lain.

“Program yang dilakukan PTAR ini mendukung kegiatan yang sudah Pemkab lakukan. Harapan kami, program ini bisa menjadi pilot project yang diadopsi kecamatan lain guna mempercepat eliminasi TB,” kata Sri.

Ia mengapresiasi PTAR yang sudah mengadakan Program ENTAS-TB untuk membantu menuntaskan TB di Tapanuli Selatan dan turut berkontribusi menye- lesaikan masalah penyakit menular TB di Indonesia.

Juga di Juli 2022, PTAR meluncurkan Program Revitalisasi Posyandu di tujuh desa percontohan menuju Desa Sehat Martabe di Kecamatan Batangtoru dan Kecamatan Muara Batangtoru. Program tersebut merangkul Dinas Kesehatan Tapanuli Selatan dan penyedia jasa pelayanan kesehatan CV Sinergi Medika Indonesia.

Revitalisasi posyandu ditargetkan mampu menaikkan status gizi serta kesehatan ibu dan anak. Selain itu, revitalisasi posyandu dapat meningkatkan strata posyandu dan sistem pengelolaan posyandu di tujuh desa wilayah binaan.

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Thanks to Indonesia, World Tin Prices Soar!

Robertus Andrianto, CNBC Indonesia

T

HE WORLD tin price strengthened in today's trading supported by the weakening of the United States (US) dollar.

In addition, Indonesia's tin mining production growth is estimated to be stable.

On Monday (26/7/2022) at 16:15 WIB, the world tin price was recorded at US$

25,000, up 1.5% compared to yesterday's closing price.

The Dollar Index (which measures the greenback against six other major currencies) was at 106.65. This position is below the peak in the last 20 years at 108.54. This is a positive sentiment for tin because the greenback is priced at a lower price for holders of other currencies.

The US dollar fell as traders awaited a rate hike decision from the US Federal Reserve.

And wait for any clues on whether hints of a slowing economy will prompt a shift away from its focus on inflation.

Fitch Solution estimates that production growth from the main world tin producer with a contribution of 26.1 percent, Indonesia will be sloping. Due to stricter environmental regulations restricting investment.

Fitch estimates production in 2022 at 83.42 thousand tons. This number grew by 0.5% compared to last year's production.

This growth slowed compared to 2021 which shot 25%.

Berkat Indonesia, Harga Timah Dunia Melesat!

Robertus Andrianto, CNBC Indonesia

H

ARGA timah dunia menguat pada perdagangan hari ini didukung oleh pelemahan dolar Amerika Serikat (AS).

Selain itu pertumbuhan produksi tambang timah Indonesia diperkirakan stabil.

Pada Senin (26/7/2022) pukul 16:15 WIB harga timah dunia tercatat US$ 25.000, menguat 1,5% dibandingkan harga penu- tupan kemarin.

Dollar Index (yang mengukur greenback dengan enam mata uang utama lainnya) berada di 106,65. Posisi ini di bawah puncak dalam 20 tahun terakhir di 108,54.

Hal ini menjadi sentimen positif bagi timah karena dibanderol dengan greenback menjadi murah bagi pemegang mata uang lainnya.

Dolar AS turun karena para pedagang menunggu keputusan kenaikan suku bunga dari Federal Reserve AS. Serta menunggu petunjuk apa pun tentang apakah petunjuk ekonomi yang melambat akan mendorong pergeseran dari fokusnya pada inflasi.

Fitch Solution memperkirakan pertumbuhan produksi dari produsen timah dunia utama dengan kontribusi 26,1%, Indonesia, melandai. Karena peraturan lingkungan yang lebih ketat membatasi investasi.

Fitch memperkirakan produksi 2022 sebesar 83,42 ribu ton. Jumlah ini bertumbuh 0,5% dibandingkan produksi tahun lalu. Pertumbuhan ini melambat dibanding 2021 yang melesat 25%.

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"Indonesia's refined tin supply will be constrained by the tightening of state regulations for tin shipments, which are aimed at cracking down on environmental damage and smuggling and increasing enforcement of royalty payments and taxes on shipments," Fitch wrote in his research.

Fitch estimates that PT Timah Tbk (TINS) will continue to be the largest tin producer in Indonesia in the coming years. CNBC INDONESIA RESEARCH TEAM (ras/ras)

"Pasokan timah olahan Indonesia akan terkendala oleh pengetatan aturan negara untuk pengiriman timah, yang bertujuan untuk menindak kerusakan lingkungan dan penyelundupan serta meningkatkan penegakan pembayaran royalti dan pajak atas pengiriman," tulis Fitch dalam risetnya.

Fitch memperkirakan PT Timah Tbk (TINS) akan terus menjadi produsen timah terbesar di Indonesia di tahun-tahun mendatang. TIM RISET CNBC INDONESIA (ras/ras)

Copper rises on supply risks and softening dollar

By: Reuters

C

OPPER prices rose on Tuesday, as supply risks flagged by major producers offset demand concerns, while a softening dollar made the metal cheaper for holders of other currencies.

Three-month copper on the London Metal Exchange rose 2.2% to $7 640/t by 07:09 GMT, while the most-traded September copper contract on the Shanghai Futures Exchange closed 3% higher at 58 890 yuan ($8 718.24) a tonne.

The dollar slipped for a fourth straight session as traders waited on a rate hike decision from the US Federal Reserve and for any clues about whether hints of a slowing economy will prompt a shift away from its focus on inflation.

Chinese miner MMG said on Monday it had suspended its copper production targets for the year following a 60% output drop due to a long protest at its Las Bambas mine in Peru, which significantly disrupted operations.

Last week, miners Vale and Antofagasta cut their 2022 copper production outlook.

"These miners ... have been struggling to meet the bottom end of their guidance ranges and in some cases lowering below. That's providing some offset to the slowing demand growth,"

said CRU analyst Craig Lang.

Metals prices have been plagued by weak demand in top consumer China due to Covid-19 outbreaks and fears of a global economic slowdown as central banks seek to hike interest rates to control high inflation.

Despite Tuesday's rise, prices of copper, often used as a gauge of global economic health, have dropped 30% since hitting a record high of $10 845 a tonne in March.

LME nickel CMAL3 advanced 2.5% to $22 790 a tonne, LME zinc CMZN3 increased 1.5% to $3 031.50 a tonne, ShFE nickel SNIcv1 climbed 6.4% to 174 360 yuan a tonne, and ShFE tin jumped 2.9% to 198 560 yuan a tonne.

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Meanwhile, dozens of non-governmental organisations have sent a letter to Tesla CEO Elon Musk to not invest in the nickel industry in Indonesia, the world's biggest producer of the metal, on environmental concerns.

Environmental groups ask Tesla to stop nickel plans in Indonesia

Bloomberg News

E

NVIRONMENTAL groups urged Tesla on Monday to reconsider its plans for nickel investment in Indonesia, the world’s top producer of the material, as ESG scrutiny mounts in an industry crucial to the electric vehicle revolution.

In an open letter addressed to CEO Elon Musk and shareholders, dozens of organizations asked the EV giant to terminate direct investment plans in Indonesia’s nickel industry and bar nickel sourced and produced in the country from being used in Tesla’s cars.

“The nickel industry in Indonesia has a record of environmental damage, criminalization threats that abuse democracy and equity, the threats to the vulnerable groups, and multiple violations of law,” read the letter, which was signed by groups representing Indonesian and US civil society organizations.

The letter warned that nickel mining would shrink forests, pollute water and disrupt the lives of indigenous communities. The groups pointed to Wawonii Island, in Indonesia’s Southeast Sulawesi region, as an especially vulnerable area — writing that mining there has damaged coral reefs.

Representatives for Tesla and the Indonesian government didn’t immediately respond to requests for comment.

Indonesia, which holds almost a quarter of global nickel reserves, has courted investors from the EV sector. The metal is a crucial component in many batteries. Indonesia’s president, Joko Widodo, offered Musk the opportunity to invest in an end-to-end EV supply chain, according to a CNBC report in June.

Musk has said that procuring more nickel is a priority for Tesla as the automaker boosts output. “Please mine more nickel,” he urged producers on an earnings call two years ago.

“Tesla will give you a giant contract for a long period of time if you mine nickel efficiently and in an environmentally sensitive way.”

(By Annie Lee, with assistance from Yudith Ho and Chunying Zhang)

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Thiess targets WA hard-rock mining sector expansion with MACA offer

T

HIESS looks like gaining further market share in the key hard-rock mining market of Western Australia after having a bid accepted for fellow mining contractor MACA.

The all-cash offer to acquire 100% of the shares of the company at A$1.0251/share represents a 42.2% premium to the MACA one month volume weighted average price as of July 25, 2022.

MACA’s Board has unanimously recommended that its shareholders accept the offer in the absence of a superior proposal and subject to an independent expert concluding, and continuing to conclude, that the offer is favourable to MACA shareholders.

Thiess says it intends to operate MACA in materially the same manner supported by MACA’s workforce, brand and assets, and to continue its highly regarded community partnerships.

The proposed acquisition of MACA by the Thiess is consistent with its diversification strategy, with a particular emphasis on increasing its presence within metals and minerals hard-rock mining operations in Western Australia, it says.

To this point, the company’s Western Australian hard-rock mining exposure has consisted mostly of work with BHP’s Western Australian nickel assets, in addition to a recent contract award at the Covalent Lithium Joint Venture project.

MACA has exposure to the state’s iron ore sector thanks to contracts with Fortescue and BHP;

the burgeoning gold segment through contracts with Regis Resources, Ramelius Resources, Capricorn Metals and Red 5; and nickel and lithium exposure from the Ravensthorpe mine and Pilgangoora project, respectively.

Thiess also said in its Bidder Statement that it sees “a significant opportunity to combine the operational capability of both companies to continue enhancing service quality, particularly in relation to technical solutions such as deploying autonomous machinery or reducing the carbon emissions of mining services on project sites”.

Back in March, MACA announced a partnership with SafeAI to form an MoU to retrofit a mixed fleet of 100 mining trucks across multiple locations with autonomous mining technologies.

Michael Wright, Executive Chair and Chief Executive Officer of Thiess, said: “We believe our offer is an attractive opportunity for MACA shareholders as it provides certainty of cash, a strong premium and an ability to achieve liquidity for their entire MACA shareholding. We are pleased to have the support of the MACA Board for our Offer.

“The proposed acquisition of MACA is an important part of Thiess’ strategy to diversify its operations across commodities, services and geographies. Thiess has a high regard for MACA’s service quality, and we believe our industry experience positions us well to enhance MACA’s value proposition to clients and employees. We recognise and intend to maintain and grow MACA’s strong brand and presence in the Western Australian market. Thiess also looks forward to supporting MACA to meet the evolving needs of its client base through promoting further investment in low emission and technology-led solutions.” Daniel Gleeson

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