TABLE OF CONTENTS. No. Title Media Source Page

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Daily News Update Page 1

Based on the company's financial report in the first quarter of 2021, MDKA's revenue was only US$ 46.54 million, down 55.15% from the revenue in the first quarter of last year which reached US$ 103.78 million. During 2020, MDKA recorded revenues of US$ 321.86 million or 20.14% lower compared to 2019 of US$ 402.03 million.

Vice President Director of PT Merdeka Copper Gold Tbk Simon James Milroy explained that the decline in majority revenue was due to two things, first, the strategic review process at the Wetar copper mine, for the integration

process with the AIM project which was completed at the end of 2020.

Second, there was an incident of land surface shift on the heap leach pad at the Tujuh Bukit gold mine in September 2020, which had an impact on the lack of production and also decreased sales in the fourth quarter of 2020.

Kinerja Merdeka Copper (MDKA)

tertekan di kuartal I-2021, ini

penyebabnya

Reporter: Ika Puspitasari | Editor: Herlina Kartika Dewi

K

INERJA keuangan PT Merdeka Copper

Gold Tbk (MDKA) masih tertekan pada kuartal pertama tahun ini. Produsen emas ini mencatatkan kerugian tahun berjalan yang dapat diatribusikan kepada pemilik entitas induk sebesar US$ 4,98 juta di kuartal I-2021.

Padahal di periode yang sama tahun lalu, MDKA masih mencetak laba bersih sebesar US$ 14,97 juta. Tergerusnya bottom line MDKA seiring dengan menurunnya penda-patan perusahaan.

Berdasarkan laporan keuangan perusaha-an di kuartal I-2021, pendapatperusaha-an MDKA hanya US$ 46,54 juta, turun 55,15% dari pendapatan pada kuartal pertama tahun lalu yang mencapai US$ 103,78 juta.

Selama tahun 2020, MDKA mencatatkan pendapatan sebesar US$321,86 juta atau lebih rendah 20,14% dibandingkan dengan 2019 sebesar US$ 402,03 juta.

Wakil Presiden Direktur PT Merdeka Copper Gold Tbk Simon James Milroy menjelaskan, penurunan pendapatan mayoritas

dikarena-kan dua hal, yang pertama, berjalannya

proses strategic review di tambang tembaga Wetar, untuk proses integrasi dengan proyek

AIM yang telah selesai di akhir tahun 2020. Kedua, ada insiden pergeseran permukaan tanah di heap leach pad di tambang emas Tujuh Bukit pada September 2020, yang berdampak kepada minimnya produksi dan juga penurunan penjualan di kuartal IV 2020.

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Daily News Update Page 4 "The remediation or repair process has

been running since the fourth quarter of 2020. As a result, in January 2021 the production process of the heap leach activity has started even though it is not fully operational," he said, Tuesday (25/5). He added, the remediation or improve-ment process is ongoing in stages, which is targeted to be completed by the end of the second quarter of 2021.

Thus, this year, MDKA targets to produce 100,000 - 120,000 ounces of gold and 14,000 - 17,000 tons of copper.

Until the first quarter of 2021, MDKA produced 16,585 ounces of gold and 2,489 tons of copper, this production increased compared to production in the fourth quarter of 2020 of 5,355 ounces of gold and 1,017 tons of copper.

“Proses remediasi atau perbaikan telah berjalan sejak kuartal IV-2020. Sebagai hasilnya, pada Januari 2021 proses produksi dari kegiatan heap leach telah dimulai meskipun belum beroperasi secara penuh," ungkap dia, Selasa (25/5).

Ia menambahkan, proses remediasi atau perbaikan sedang berjalan bertahap yang ditargetkan selesai di akhir kuartal II 2021 ini.

Dengan demikian pada tahun ini, MDKA menargetkan bisa memproduksi 100.000-120.000 ounces emas dan 14.000-17.000 ton tembaga.

Sampai kuartal I 2021, MDKA mem-produksi 16.585 ounces emas dan 2.489 ton tembaga, produksi tersebut meningkat jika dibandingkan dengan produksi pada kuartal IV-2020 sebesar 5.355 ounces emas dan 1.017 ton tembaga.

Coal Price Heats Up, UNTR

Maintains Coal Sales Target for

2021

Author: Finna U. Ulfah

M

INING company Astra Group, PT United

Tractors Tbk., maintains its coal sales target despite the increasing trend of commodity prices and demand.

United Tractors Corporate Secretary Sara K. Loebis said that the company maintains operational guidelines and targets in the coal business line from those set at the beginning of last year.

In fact, the government, through the Ministry of ESDM, has determined an additional coal production amounting to 75 million tons for overseas sales. With that,...

Harga Batu Bara Memanas,

UNTR Pertahankan Target

Penjualan Batu Bara 2021

E

MITEN pertambangan Grup Astra, PT

United Tractors Tbk., mempertahankan target penjualan batu baranya kendati harga komoditas dan permintaan mengalami tren kenaikan.

Sekretaris Perusahaan United Tractors Sara K. Loebis mengatakan bahwa perseroan mempertahankan panduan dan target operasional di lini bisnis batu bara dari yang sudah ditetapkan pada awal tahun lalu. Padahal, pemerintah melalui Kementerian ESDM menetapkan adanya tambahan jumlah produksi batu bara, sebesar 75 juta ton untuk penjualan ke luar negeri. ...

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Daily News Update Page 5 With that, the amount of national coal

production in 2021 will increase to 625 million tons from the previous target of 550 million tons.

"[The company maintains its coal production and sales target] because the transportation capacity is already at maximum," said Sara to Bisnis, Tuesday (25/5/2021).

Meanwhile, the capacity has been adjusted to the production target set at the beginning of this year, which has actually increased compared to the previous year, although it is sloping.

The issuer coded UNTR shares targets coal sales through its business entity, PT Tuah Turangga Agung, of 9 million to 9.5 million tons. Of the total sales, this includes 2.3 million tons for coking coal.

The guidance is higher than the 2020 target of 7.5 million tons to 8 million tons, including 1.2 million tons of coking coal. As of April 2021, UNTR has sold 4.61 million tons of coal, a slight increase of 1.69 percent from 4.54 million tons in the same period last year.

However, on a month to month basis, coal sales decreased 17.7 percent from 1.16 million tons in March 2021 to 910,000 tons in April 2021.

Sara explained that the decrease was due to river water being rather shallow when reduced rainfall caused coal transportation to be somewhat hampered.

On the other hand, Sara also maintains targets and guidelines for other business lines except heavy equipment sales.

UNTR is targeting gold sales at the Martabe mine controlled by subsidiary PT Agincourt Resources at 340,000 oz, higher than the 2020 target in the range of 319,000-320,000 oz.

Dengan itu, jumlah produksi batu bara nasional pada 2021 meningkat menjadi 625 juta ton dari target sebelumnya 550 juta ton. “[Perseroan mempertahankan target produksi dan penjualan batu bara] karena kapasitas transportasi memang sudah maksimal,” ujar Sara kepada Bisnis, Selasa (25/5/2021).

Adapun, kapasitas itu sudah disesuaikan dengan target produksi yang sudah ditetapkan pada awal tahun ini, yang sesungguhnya sudah mengalami kenaikan dibandingkan dengan tahun sebelumnya, walaupun landai.

Emiten berkode saham UNTR itu me-nargetkan penjualan batu bara melalui entitas usahanya PT Tuah Turangga Agung sebesar 9 juta hingga 9,5 juta ton. Dari total penjualan itu termasuk 2,3 juta ton untuk batu bara jenis coking coal.

Panduan itu lebih tinggi daripada target 2020 sebesar 7,5 juta ton hingga 8 juta ton, termasuk 1,2 juta ton batu bara coking coal. Hingga April 2021, UNTR menjual batu bara 4,61 juta ton, naik tipis 1,69 persen dari 4,54 juta ton pada periode yang sama tahun lalu. Kendati demikian, secara month to month penjualan batu bara menurun 17,7 persen dari 1,16 juta ton pada Maret 2021 menjadi 910.000 ton pada April 2021.

Sara menjelaskan bahwa penurunan itu disebabkan oleh air sungai yang agak dangkal saat berkurangnya curah hujan menyebabkan transportasi batu bara agak terhambat.

Di sisi lain, Sara juga mempertahankan target dan panduan lini bisnis lainnya kecuali penjualan alat berat.

UNTR membidik penjualan emas di tambang Martabe yang dikendalikan oleh anak usaha PT Agincourt Resources sebesar 340.000 oz, lebih tinggi daripada target 2020 di kisaran 319.000-320.000 oz.

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Daily News Update Page 6 In addition, guidance for the mining

contractor business line through PT Pamapersada Nusantara is stable from the acquisition in 2020.

Meanwhile, the heavy equipment sales target increased from 1,700 units set at the beginning of the year to 2,500 units.

As of April 2021, UNTR has sold 124,000 GEOs of gold, up 9.8 percent from 112,900 GEOs in the same period last year.

From the mining contractor line, coal production amounted to 36.7 million tons and overburden removal of 258.8 million bcm until April 2021. These gains decreased 1.6 percent and 8.77 percent, respectively.

During the first four months of this year, UNTR has also sold 909 units of heavy equipment, an increase of 26.77 percent compared to the acquisition of 717 units in the same period the previous year. Editor: Hafiyyan

Selain itu, panduan untuk lini bisnis kontraktor pertambangan melalui PT Pamapersada Nusantara stabil dari perolehan 2020.

Sementara itu, target penjualan alat berat naik dari 1.700 unit yang ditetapkan pada awal tahun menjadi 2.500 unit.

Hingga April 2021, UNTR menjual emas sebanyak 124.000 GEOs, naik 9,8 persen dari perolehan 112.900 GEOs pada periode yang sama tahun lalu.

Dari lini kontraktor pertambangan, produksi batu bara sebesar 36,7 juta ton dan overburden removal sebesar 258,8 juta bcm hingga April 2021. Perolehan itu masing-masing mengalami penurunan 1,6 persen dan 8,77 persen.

Sepanjang empat bulan pertama tahun ini, UNTR juga telah menjual 909 unit alat berat, tumbuh 26,77 persen dibandingkan dengan perolehan 717 unit pada periode yang sama tahun sebelumnya. Editor : Hafiyyan

To finance gold mining, Bumi

Minerals seeks funds of US$110

million from Warrants

Gita Rossiana

P

T BUMI Resources Minerals Tbk (BRMS)

hopes to obtain funds of US$ 100-110 million from the issuance of warrants in October this year. The funds will be used to finance exploration of gold and copper mines in Gorontalo.

Bumi Resources Minerals Director and

Investor Relations Herwin Hidayat explained,

from the implementation of the rights issue last April, the company obtained funds of Rp 1.6 trillion. Of the fund,...

Biayai Tambang Emas, Bumi

Minerals Bidik Dana US$110

Juta dari Waran

Gita Rossiana

P

T BUMI Resources Minerals Tbk (BRMS)

berharap bisa memperoleh dana sebesar US$ 100-110 juta dari hasil penerbitan

waran pada Oktober tahun ini. Dana tersebut

akan digunakan untuk membiayai eksplorasi tambang emas dan tembaga di Gorontalo. Direktur dan Investor Relations Bumi Resources Minerals Herwin Hidayat menjelaskan, dari pelaksanaan rights issue pada April lalu, perseroan meraih dana sebesar Rp 1,6 triliun. Dari dana tersebut,...

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Daily News Update Page 7 Of the fund, around 90% is allocated for a

gold factory in Palu and only 10% is used for the development of a copper and gold mine in Gorontalo.

The company still has warrants which are part of the rights issue of 24.45 billion warrants. "Of the warrants issuance, about 85% will be used for project development in Gorontalo," Herwin said in a webinar held by Samuel Sekuritas, Tuesday (25/5). With these funds, Herwin hopes that Bumi Resources Minerals can explore gold and copper mines in Gorontalo. Currently, mines in Gorontalo have copper and gold resources of 400 million tons and reserves of 105 million tons. "We will carry out further drilling to increase the existing reserves, so that it can increase the mine life over 10 years," he explained.

The Bumi Minerals project in Gorontalo comes from the Mak River, Left Branch, East Motomboto, North Motomboto and Kayu Bulan projects. In the second quarter of 2021, the company plans to drill for gold prospects in the Motomboto area.

Apart from Gorontalo, Bumi Minerals plans to build a zinc and lead processing facility in Dairi, North Sumatra. In working on this project, Bumi Minerals has partnered with China Nonferrous Metal Industry's Foreign Engineering and Construction (NFC) and formed a business alliance, namely PT Dairi Prima Mineral.

The feasibility study for this project was approved in 2015. This year, Bumi Minerals will build infrastructure and secure funding for the project located near the Dog Hitam mine.

Herwin explained that the total capital expenditure for the Black Dog project reached US$ 350 million, of which 80% or US$ 280 million was financed by creditors. The remaining 20% will be financed by NFC and Bumi Minerals.

Dari dana tersebut, sekitar 90% dialokasikan untuk pabrik emas di Palu dan hanya 10% yang digunakan untuk pengembangan tambang tembaga dan emas di Gorontalo.

Perseroan masih memiliki waran yang

merupa-kan bagian dari rights issue sebanyak 24,45 miliar waran. “Dari penerbitan waran ini, sekitar 85% akan digunakan untuk pengem-bangan proyek di Gorontalo," kata Herwin dalam webinar yang digelar oleh Samuel Sekuritas, Selasa (25/5).

Dengan dana tersebut, Herwin berharap Bumi Resources Minerals bisa mengeksplorasi tambang emas dan tembaga di Gorontalo. Saat

ini, tambang di Gorontalo memiliki sumber daya tembaga dan emas sebanyak 400 juta ton dan cadangan sebesar 105 juta ton. “Kami akan me-lakukan pengeboran lebih lanjut untuk bah cadangan yang ada, sehingga bisa menam-bah umur tambang di atas 10 tahun," jelas dia.

Adapun proyek Bumi Minerals di Gorontalo berasal dari proyek Sungai Mak, Cabang Kiri, Motomboto Timur, Motomboto Utara dan Kayu Bulan. Pada kuartal II-2021, perseroan berencana untuk melakukan pengeboran prospek emas di kawasan Motomboto.

Selain di Gorontalo, Bumi Minerals berencana membangun fasilitas pengolahan seng dan timah hitam di Dairi, Sumatera Utara. Dalam menggarap proyek ini, Bumi Minerals telah menggaet China Nonferrous Metal Industry's Foreign Engineering and Construction (NFC) dan membentuk aliansi bisnis, yakni PT Dairi Prima Mineral.

Feasibility study dari proyek ini sudah disetujui pada 2015. Tahun ini, Bumi Minerals akan membangun infrastruktur dan meng-amankan pendanaan untuk proyek yang berlokasi di dekat tambang Anjing Hitam ini. Herwin menjelaskan, total belanja modal untuk proyek Anjing Hitam mencapai US$ 350 juta, dimana 80% atau US$ 280 juta dibiayai oleh kreditur. Sisanya 20% akan dibiayai oleh NFC dan Bumi Minerals.

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Daily News Update Page 8 "Bumi Minerals gets a 49 percent share of

the funding, which is 20 percent or around US$ 32-33 million which we have allocated in a restricted deposit," he explained. The last project that Bumi Minerals is working on is the construction of a gold ore processing plant in Poboya, Palu. In carrying out this project, the company will use proceeds from the rights issue which reached Rp 1.6 trillion.

From this fund, Bumi Minerals will use it to build a third gold ore processing plant with a capacity of 4,000 tons per day worth US$ 48 million. Furthermore, as much as US$ 23 million was used for drilling work in 1 gold prospect with an estimated additional gold ore reserves of 5 million tons in November 2021. In addition, US$ 23 million was used to drill four gold prospects which could add 15 million tons of reserves and ore resource by May 2022. Previously, the company had obtained an investment credit in the form of a standby letter of credit (SBLC) from PT Bank Negara Indonesia Tbk (BBNI) for the expansion of a second gold factory worth US$ 65-70 million. With the operation of the three gold ore processing plants in the second quarter of 2024, the company hopes to produce 8,500 tons of gold ore per day or 220 thousand ounces per year. As for the first quarter of 2021, Bumi Minerals posted a net profit of US$ 1.67 million, an increase of more than 938% compared to the first quarter of 2020 which reached US$ 161.26 thousand. This net profit was supported by an increase in revenue by 37.09% to US$ 1.36 million in the first quarter of 2021 from US$ 991.86 thousand in the first quarter of 2020.

“Bumi Minerals mendapatkan bagian 49% dari pendanaan yang 20% atau sekitar US$ 32-33 juta yang sudah kami alokasikan dalam restricted deposit," terang dia. Adapun proyek terakhir yang tengah digarap oleh Bumi Minerals adalah pembangunan pabrik pengolahan bijih emas di Poboya, Palu. Dalam menjalankan proyek ini, perseroan akan menggunakan dana dari hasil rights issue yang mencapai Rp 1,6 triliun.

Dari dana tersebut, Bumi Minerals akan menggunakannya untuk membangun pabrik pengolahan bijih emas ketiga dengan kapasitas 4.000 ton per hari senilai US$ 48 juta. Selanjutnya, sebanyak US$ 23 juta untuk pekerjaan pengeboran di 1 prospek emas dengan estimasi tambahan cadangan bijih emas sebanyak 5 juta ton pada November 2021. Selain itu, dana US$ 23 juta digunakan untuk mengebor empat prospek emas yang bisa menambah 15 juta ton cadangan dan sumber daya bijih pada Mei 2022.

Sebelumnya, perseroan sempat meraih kredit investasi berupa standby letter of credit (SBLC) dari PT Bank Negara Indonesia Tbk (BBNI) untuk ekspansi pabrik emas kedua senilai US$ 65-70 juta. Dengan beroperasinya ketiga pabrik pengolahan bijih emas pada kuartal II-2024, perseroan berharap bisa mem-produksi 8.500 ton bijih emas per hari atau 220 ribu ounces per tahun.

Adapun hingga kuartal I-2021, Bumi Minerals membukukan laba bersih sebesar US$ 1,67 juta atau meningkat lebih dari 938% dibandingkan kuartal I-2020 yang mencapai US$ 161,26 ribu. Perolehan laba bersih ini ditopang oleh peningkatan pendapatan sebesar 37,09% menjadi US$ 1,36 juta pada kuartal I-2021 dari US$ 991,86 ribu pada kuartal I-2020.

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Daily News Update Page 9 During the first three months in 2021,

Bumi Minerals produced 50 kg of gold ore, an increase of more than 284% compared to the first quarter of 2020 which reached 13 kg. From the gold ore, the company can produce as much as 24 kg of gold, an increase of 500% from the first quarter of 2020 which was 4 kg. Editor: Jauhari Mahardhika

Selama tiga bulan pertama pada 2021, Bumi Minerals memproduksi 50 kg bijih emas atau meningkat lebih dari 284% dibandingkan kuartal I-2020 yang men-capai 13 kg. Dari bijih emas itu, perseroan bisa menghasilkan emas sebanyak 24 kg atau meningkat 500% dari kuartal I-2020 yang sebanyak 4 kg. Editor : Jauhari Mahardhika

It is hoped that the Masmindo

gold mine in Luwu will start

operating soon

Reporter | Editor: Dikky Setiawan

G

OLD mining company PT Masmindo Dwi

Area continues to work on completing land acquisition in the area of Rante Balla Village, Latimojong District, Luwu Regency, South Sulawesi. This is because, since operating in Luwu in 1991 until now, the polemic between Masmindo and residents of Rante Balla Village is still happening.

This condition is due to the fact that the local community has not received compensation for

the land exploited as a gold mine by Masmindo. In fact, this subsidiary of PT Indika Energy has carried out exploration and assessment of the resource content in the Rante Balla Village area.

Dwiwati Riandhini, Corporate Communi-cations Manager of Masmindo Dwi Area,

explained that every land used by residents, whether the land has been purchased or not, has received compensation from Masmindo.

"For example, we lease land used for exploration, or compensate for the felling of clove trees and other crops belonging to residents on the exploration land. And all of that has been paid," Dwiwati said in her official statement, Wednesday (26/5).

Tambang emas Masmindo di

Luwu diharap bisa segera

beroperasi

Reporter | Editor: Dikky Setiawan

P

ERUSAHAAN tambang emas PT Masmindo

Dwi Area terus berupaya menyelesaikan pembebasan lahan di wilayah Desa Rante Balla, Kecamatan Latimojong, Kabupaten Luwu, Sulawesi Selatan. Pasalnya, sejak ber-operasi di Luwu tahun 1991 hingga kini, polemik antara Masmindo dengan warga Desa Rante Balla masih terjadi.

Kondisi itu disebabkan masyarakat setempat belum mendapatkan kompensasi atas lahan yang dieksploitasi sebagai tambang emas oleh

Masmindo. Padahal, anak usaha PT Indika Energy ini sudah melakukan eksplorasi dan pengkajian terhadap kandungan sumber daya di wilayah Desa Rante Balla.

Dwiwati Riandhini, Corporate Communications

Manager Masmindo Dwi Area menjelaskan, setiap lahan warga yang dipakai, baik lahan yang sudah dibeli atau belum, sudah men-dapatkan ganti rugi dari Masmindo.

"Misalnya, kami sewa lahan yang dipakai untuk eksplorasi, atau ganti rugi untuk penebangan pohon cengkeh dan tanaman lain milik warga

yang ada di atas lahan eksplorasi. Dan itu

semua sudah dibayarkan," kata Dwiwati dalam

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Daily News Update Page 10 She also clarified that his company's

Budget and Cost Work Plan (RKAB) was not rejected by the regulator. However, he said, Masmindo's RKAB was required to be revised. So, he said, there were common mistakes made regarding Masmindo, which has been operating for decades. According to Dwiwati, as a mining company, Masmindo was relatively new in the exploration stage, starting in 1998. Before Masmindo explored resources in Rante Balla Village, she said, there were already other mining companies that had explored the area.

And, he continued, mining exploration usually takes 15-20 years to complete the exploration stage. Currently, Masmindo has just completed the exploration phase towards construction. "If anyone asks, there is nothing yet? Because exploration takes a long time," Dwiwati added.

The completeness of document

Previously, Sugeng Mujianto, Director of Minerba at the Ministry of Energy and Mineral Resources (ESDM) said that many mining companies have problems and are being handled by evaluators at their institutions. "I don't know exactly what problems Masmindo is facing. We are processing many companies. But if the RKAB is rejected, there are certain things," he said.

For one thing, it could be because the documents are incomplete, and sometimes the contents do not match the substance, the numbers entered are not correct. And, usually, the problems that mining companies often face in the regions are related to the CPI (Competent Person Indonesia) certificate.

Therefore, the government asked Masmindo to review the status of the resources and the amount of resource reserves in detail.

Dia juga meluruskan terkait Rencana Kerja Anggaran dan Biaya (RKAB) perusahaannya juga tidak ditolak oleh regulator. Tapi, kata dia, RKAB yang dibuat Masmindo diminta untuk direvisi. Jadi, kata dia, ada kesalahan umum yang dilakukan terkait Masmindo yang sudah beroperasi puluhan tahun. Menurut Dwiwati, sebagai perusahaan pertambangan, Masmindo relatif baru dalam tahap melakukan eksplorasi, yakni mulai tahun 1998. Sebelum Masmindo eksplorasi sumber daya di Desa Rante Balla, kata dia, sudah ada perusahaan tambang lain yang melakukan eksplorasi di kawasan tersebut. Dan, sambung dia, eksplorasi tambang biasa-nya memakan waktu 15-20 tahun untuk menyelesaikan tahap eksplorasi. Saat ini, Masmindo baru menyelesaikan tahap eksplorasi menuju konstruksi. "Kalau ada yang tanya belum ada apa-apa? Karena memang eksplorasi butuh waktu lama," imbuh Dwiwati.

Kelengkapan dokumen

Sebelumnya, Sugeng Mujianto, Direktur Minerba Kementerian Energi dan Sumber Daya Mineral (ESDM) mengatakan, banyak perusahaan pertambangan yang bermasalah

dan sedang ditangani oleh evaluator di

insti-tusinya. "Saya tidak tahu persis persoalan

yang dihadapi Masmindo. Banyak perusahaan

yang kami proses. Tapi jika RKAB ditolak, itu ada beberapa hal pastinya," katanya.

Salah satunya, bisa saja karena kelengkapan dokumen kurang, dan kadang-kadang secara substansi isinya tidak cocok, angka yang dimasukkan tidak sesuai. Dan, biasanya, persoalan yang kerap dihadapi perusahaan pertambangan di daerah biasanya adalah terkait sertifikat CPI (Competent Person Indonesia).

Karena itu, pemerintah meminta agar Masmindo mengkaji ulang status sumber daya dan jumlah cadangan sumber daya secara detail.

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Daily News Update Page 11 "Is it true that the amount of (gold)

reserves there is that much? Are you sure the amount is that much? Usually like that, but I don't know exactly what Masmindo is," said Sugeng.

In principle, continued Sugeng, the government wants all mines to comply with the regulations and be able to operate immediately because the mineral business is good again and provides great benefits. "So we encourage it, not reject it. If there is something missing, we will definitely give it an opinion. We are fair, the evaluator asked to immediately complete the missing one and put it forward again," Sugeng said. He emphasized that the government always provides solutions and encourages it to operate, so that state rights are also fulfilled, corporate rights are granted, then community rights also exist.

However, provided that it is in accordance with existing regulations with legal aspects and is complete in accordance with existing regulations.

Ricky Fernando, Indika Energy's Head of Corporate Communications hopes that land acquisition can be completed immediately so that Masmindo can carry out production. "As a shareholder, Indika Energy hopes that Masmindo will immediately start production operations," said Ricky.

He added that Indika Energy will continue to support Masmindo to start producing immediately. "So that together with Masmindo and Nusantara Resources can produce and make a real contribution to the surrounding community," he said.

"Apakah benar jumlah cadangan (emas) di sana segitu? Yakin jumlahnya segitu? Biasanya seperti itu, tapi saya tidak tahu persis untuk yang Masmindo," ujar Sugeng.

Pada prinsipnya, lanjut Sugeng, peme-rintah ingin seluruh tambang sesuai aturan dan bisa segera beroperasi karena bisnis mineral lagi bagus dan memberi manfaat besar.

"Jadi kami dorong, bukan ditolak. Kalau ada yang kurang apa, pasti kami kasih thau. Kami fair kok, evaluator meminta segera dilengkapi yang kurang dan di-majukan lagi," papar Sugeng.

Dia menegaskan, pemerintah selalu memberi solusi dan mendorong agar bisa beroperasi, supaya hak negara juga terpenuhi, hak perusahan diberikan, kemudian hak masyarakat juga ada. Tapi, dengan catatan sesuai dengan aturan yang ada dengan legal aspek dan lengkap sesuai regulasi yang ada.

Ricky Fernando, Head of Corporate Communications Indika Energy berharap, pembebasan lahan dapat segera diselesai-kan agar Masmindo bisa melakudiselesai-kan produksi. "Sebagai pemegang saham, Indika Energy berharap Masmindo segera memulai kegiatan operasional produksi," kata Ricky.

Dia menambahkan, Indika Energy akan terus mendukung Masmindo untuk dapat segera melakukan produksi. "Sehingga bersama-sama dengan Masmindo dan Nusantara Resources dapat melakukan produksi dan memberikan kontribusi nyata kepada masyarakat sekitar," tandasnya.

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Pursuing an increase in revenue

of US$ 170 million per year,

Merdeka Copper Boosts the AIM

project

Yurika

P

T MERDEKA Copper Gold Tbk (MDKA)

has completed a feasibility study for the Acid, Iron, Metal (AIM) project. The project is expected to increase Merdeka Copper's revenue by US$ 170 million per year for more than 20 years.

Simon James Milroy, Vice President Director of MDKA, said that Merdeka Copper has signed a Joint Venture Agreement (JVA) for the AIM project with Eternal Tsingshan Group Limited (Tsingshan) and their respective affiliates. Subsequently, the parties established a joint venture company incorporated in Indonesia, namely PT Merdeka Tsingshan Indonesia (MTI), to run and operate the AIM Project. The company is 80% owned by Merdeka Copper and 20% by Tsingshan. The AIM project will start construction in the second quarter of 2021 and is targeted to start production in the fourth quarter of 2022.

"This AIM project will generate attractive economic value, has a net present value (NPV) of US$ 407 million based on a discount rate of 8% and an internal rate of return (IRR) of 26%," said Simon, in his public expose after the General Meeting Shareholders in Jakarta, Tuesday (25/5). MDKA has budgeted a capital expenditure (capex) of US$ 290 million for the initial plant of the AIM project, which will generate annual revenue of around US$ 170 million for more than 20 years.

Kejar Peningkatan Pendapatan

US$170 Juta Per Tahun,

Merdeka Copper Genjot Proyek

AIM

Yurika

P

T MERDEKA Copper Gold Tbk (MDKA)

telah menyelesaikan studi kelayakan proyek Acid, Iron, Metal (AIM). Proyek ini diharapkan menambah pendapatan Merdeka Copper sebesar US$170 juta per tahun selama lebih dari 20 tahun.

Simon James Milroy, Wakil Presiden Direktur MDKA, mengatakan Merdeka Copper telah menandatangani Perjanjian Usaha Patungan (JVA) untuk proyek AIM dengan Eternal Tsingshan Group Limited (Tsingshan) dan afiliasinya masing-masing. Selanjutnya, para pihak mendirikan perusahaan patungan berbadan hukum Indonesia yakni PT Merdeka Tsingshan Indonesia (MTI), untuk menjalankan dan mengoperasikan Proyek AIM. Perusahaan tersebut 80% sahamnya dimiliki Merdeka Copper dan 20% oleh Tsingshan. Proyek AIM akan memulai konstruksi pada kuartal II 2021 dan ditargetkan untuk memulai produksi pada kuartal IV 2022.

“Proyek AIM ini akan menghasilkan nilai ekonomi yang menarik, memiliki nilai bersih sekarang (NPV) sebesar US$407 juta berdasarkan tingkat diskonto 8% dan tingkat pengembalian internal (IRR) sebesar 26%,” kata Simon, dalam p dalam Paparan Publik usai Rapat Umum Pemegang Saham di Jakarta, Selasa (25/5). MDKA menganggarkan capital expenditure (capex) atau belanja modal sebesar US$290 juta untuk pabrik awal proyek AIM, yang akan menghasilkan pendapatan tahunan sekitar US$170 juta selama lebih dari 20 tahun.

(13)

Daily News Update Page 13 To keep the performance growing, MDKA

will also continue the pre-feasibility study for the potential of the Tujuh Bukit Copper Project, which contains 8.7 million tonnes of copper and 28 million ounces of gold. Furthermore, consolidated revenue, EBITDA and profit in 2021 are expected to increase going forward, in line with normal operations at the Tujuh Bukit Gold Mine after the heap leach fracture incident, which is expected to return to normal starting in the third quarter of 2021 as well as an increase in copper production from the Wetar Copper Mine.

In the first quarter of 2021, Merdeka Copper produced 16,585 ounces of gold and 2,489 tons of copper, a significant increase compared to production in Q4-2020 of 5,355 ounces of gold and 1,017 tons of copper. The increase in production was mainly due to positive developments in the improvement of the leach pad due to the fracture incident at the Tujuh Bukit Gold Mine and increased production at the Wetar Copper Mine. Merdeka Copper targets to produce 100 thousand-120 thousand ounces of gold and 14 thousand-17 thousand tons of copper by 2021.

In terms of financial performance, in the first quarter of 2021, Merdeka Copper recorded revenues of US$ 46.55 million, the company's assets were recorded to have increased to US$ 1.16 billion from US$ 929.61 million in March 2021.

Throughout 2020, Merdeka Copper recorded revenues of US$ 321.86 million, 20.14% lower compared to 2019 of US$ 402.03 million.

Simon said the decline in majority income was due to two things, first, the strategic review process at the Wetar copper mine, for the integration process with the AIM project which was completed at the end of 2020.

Untuk menjaga kinerja terus bertumbuh, MDKA juga akan terus melanjutkan kegiatan pre-feasibility study (studi pra kelayakan) untuk potensi Proyek Tembaga Tujuh Bukit, yang mengandung sumber daya 8,7 juta ton tembaga dan juga 28 juta ounces emas. Lebih lanjut, pendapatan konsolidasi, EBITDA, dan laba pada 2021 diperkirakan meningkat kedepannya, seiring dengan operasi normal di Tambang Emas Tujuh Bukit pasca insiden rekahan heap leach, yang diharapkan kembali normal mulai kuartal III 2021 serta peningkatan produksi tembaga dari Tambang Tembaga Wetar.

Pada kuartal I 2021, Merdeka Copper memproduksi 16.585 ounces emas dan 2.489 ton tembaga, peningkatan yang signifikan dibandingkan dengan produksi pada Q4-2020 sebesar 5.355 ounces emas dan 1.017 ton tembaga. Peningkatan produksi terutama dikarenakan perkem-bangan positif dalam perbaikan pelataran pelindian akibat insiden rekahan di Tambang Emas Tujuh Bukit dan pening-katan produksi di Tambang Tembaga Wetar. Merdeka Copper menargetkan pro-duksi 100 ribu-120 ribu ounces emas dan 14 ribu-17 ribu ton tembaga pada 2021. Secara kinerja keuangan, pada kuartal I 2021, Merdeka Copper mencatat penda-patan US$46,55 juta, aset perusahaan tercatat naik menjadi US$1,16 miliar dari US$929,61 juta pada Maret 2021.

Sepanjang 2020, Merdeka Copper men-catatkan pendapatan sebesar US$321,86 juta, lebih rendah 20,14% dibandingkan dengan 2019 sebesar US$402,03 juta. Simon mengatakan penurunan pendapatan mayoritas dikarenakan dua hal, yaitu pertama, berjalannya proses strategic review di tambang tembaga Wetar, untuk proses integrasi dengan proyek AIM yang telah selesai di akhir tahun 2020.

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Daily News Update Page 14 Second, there was an incident of land

surface displacement on the heap leach pad at the gold mine. Tujuh Bukit in September 2020, which had an impact on the lack of production and also decreased sales in the fourth quarter of 2020.

"The remediation/repair process has been running since the fourth quarter of 2020. As a result, in January 2021 the production process of the heap leach activity has started even though it has not been fully operational. The remediation/repair process is ongoing in stages, which is targeted to be completed by the end of the second quarter of 2021," said Simon. (RA)

Kedua, yaitu adanya insiden pergeseran permukaan tanah di heap leach pad di tambang emas Tujuh Bukit pada September 2020, yang berdampak kepada minimnya produksi dan juga penurunan penjualan di kuartal IV 2020.

“Proses remediasi/perbaikan telah berjalan sejak kuartal IV 2020. Sebagai hasilnya, pada Januari 2021 proses produksi dari kegiatan heap leach telah dimulai meskipun belum beroperasi secara penuh. Proses remediasi/perbaikan sedang berjalan bertahap yang ditargetkan selesai di akhir kuartal II 2021 ini,” kata Simon. (RA)

Vale Indonesia invests Rp27.7

trillion nickel project in

Morowali

P

T VALE Indonesia Tbk (PT Vale) together

with partners from China have invested USD 1.94 billion for the mining and processing of ore or nickel smelter in Morowali Regency, Central Sulawesi Province (Central Sulawesi).

CEO of PT Vale Indonesia Tbk, Febriany Eddy, revealed that the reason for investing in the nickel smelter project in Bahodopi Village is due to the dynamics of the nickel business in Indonesia, which has progressed rapidly in the last 8 years. "This makes PT Vale more determined to take a position in the map of the country's nickel industry as a nickel operator that promotes sustainable mining practices," she explained, as reported by Antara, Tuesday (25/5/2021).

Vale Indonesia Investasi Proyek

Nikel Rp 27,7 Triliun di

Morowali

P

T VALE Indonesia Tbk (PT Vale)

bersama mitra dari China menanamkan investasi USD 1,94 miliar untuk penam-bangan dan pengolahan bijih atau smelter nikel di Kabupaten Morowali, Provinsi Sulawesi Tengah (Sulteng).

CEO PT Vale Indonesia Tbk Febriany Eddy mengungkapkan alasan berinvestasi pada proyek smelter nikel di Desa Bahodopi tersebut, karena dinamika bisnis nikel di Indonesia yang kian maju sangat pesat dalam 8 tahun terakhir.

"Hal tersebut membuat PT Vale semakin mantap mengambil posisi dalam peta industri nikel Tanah Air sebagai operator nikel yang mengedepankan praktik-praktik penambangan berkelanjutan," jelas dia seperti melansir Antara, Selasa (25/5/ 2021).

(15)

Daily News Update Page 15 Currently, Vale Indonesia's concession area

in Central Sulawesi covers a work contract area of 22,699 hectares in Block 2 and Block 3 of Deda Bahodopi.

"Our development project in the block consists of two main parts, namely a mine and a factory or what we usually call a smelter," she said.

Mining activities, he continued, will be operated with an investment value of USD 140 million to open the mine.

Establish a Subsidiary

Meanwhile, for nickel ore processing, his company plans to build a smelter with an investment of USD 1.8 billion.

"For the smelter construction, PT Vale Indonesia Tbk has established a new business entity, namely PT Bahodopi Nickel Smelting Indonesia (BNSI) which currently has obtained an Industrial Business License (UII). This factory is planned to be built and operated with our partners from China," she said.

Febriany said the Bahodopi project had been proposed as part of a national strategic project for 2021. PT Vale's mining activities in the Bahodopi Block would absorb around 900 workers.

"Meanwhile, for activities at the smelter, we estimate that the workforce needs will reach 11,400 people during the construction period, and around 3,700 people when the smelter is operational," he also said.

She hopes that the presence of PT Vale in Central Sulawesi in general and in Morowali in particular can contribute to improving the economy of local and local residents.

Saat ini wilayah konsesi Vale Indonesia di Sulteng mencakup area kontrak karya seluas 22.699 hektare di Blok 2 dan Blok 3 Deda Bahodopi.

"Proyek pengembangan kami di blok tersebut terdiri atas dua bagian utama, yaitu tambang dan pabrik atau yang biasa kita sebut smelter," ujarnya.

Kegiatan penambangan, lanjutnya, akan dioperasikan dengan nilai investasi pem-bukaan tambang sebesar USD 140 juta.

Dirikan Anak Usaha

Sementara untuk kegiatan pengolahan bijih nikel, pihaknya berencana mem-bangun smelter dengan nilai investasi sebesar USD 1,8 miliar.

"Untuk pembangunan smelter, PT Vale Indonesia Tbk telah mendirikan badan usaha baru, yaitu PT Bahodopi Nickel Smelting Indonesia (BNSI) yang saat ini telah memperoleh Izin Usaha Industri (UII). Pabrik ini rencananya akan dibangun dan dioperasikan bersama mitra kami dari Tiongkok," ujarnya pula.

Febriany menyebut proyek Bahodopi telah diajukan sebagai bagian dari proyek strategis nasional untuk tahun 2021. Kegiatan penambangan PT Vale di Blok Bahodopi akan menyerap sekitar 900 tenaga kerja.

"Sementara untuk kegiatan di smelter, kami memperkirakan kebutuhan tenaga kerja mencapai 11.400 orang pada periode konstruksi, dan sekitar 3.700 orang ketika smelter sudah beroperasi," ujarnya pula. Ia berharap kehadiran PT Vale di Sulteng pada umumnya dan di Morowali pada khususnya dapat berkontribusi terhadap peningkatan perekonomian warga sekitar dan daerah.

(16)

Looking at the prospect of Indo

Tambangraya Megah (ITMG)

amidst strengthening coal prices

Reporter: Akhmad Suryahadi | Editor: Noverius Laoli

T

HE PROSPECT of PT Indo Tambangraya

Megah Tbk (ITMG) is believed to be quite bright this year. Maybank Kim Eng Sekuritas analyst Isnaputra Iskandar maintains the recommendation for ITMG shares with an unchanged target price of Rp 15,000.

This recommendation was taken because ITMG will continue to benefit from strong international coal prices given its high exposure to the seaborne (export) coal market, amounting to 85% in the first quarter of 2021.

Meanwhile, ITMG's production costs are likely to remain stable during the year, due to a lower strip ratio (ratio) and higher production volumes.

Isnaputra assessed that a solid black gold price is likely to continue this year. This strengthening can continue when the supply side is unable to increase volume fast enough to meet demand.

On the other hand, ITMG is considered to be in the right position to take advantage of this situation given its high exposure to the coal export market.

In the first three months of 2021, as much as 85% of ITMG's sales volume will be export sales, which is the highest among coal companies under Maybank Kim Eng's scope.

Melihat prospek Indo

Tambangraya Megah (ITMG) di

tengah menguatnya harga

batubara

Reporter: Akhmad Suryahadi | Editor: Noverius Laoli

P

ROSPEK PT Indo Tambangraya Megah Tbk

(ITMG) diyakini masih cukup cerah tahun ini. Analis Maybank Kim Eng Sekuritas Isnaputra Iskandar mempertahankan reko-mendasi saham ITMG dengan target harga yang tidak berubah, yakni Rp15.000.

Rekomendasi ini diambil karena ITMG akan terus mendapatkan keuntungan dari harga batubara internasional yang kuat mengingat eksposurnya yang tinggi ke pasar batubara lintas laut (ekspor), yakni sebesar 85% pada kuartal pertama 2021.

Sementara itu, biaya produksi ITMG kemungkinan akan tetap stabil selama tahun ini, karena penurunan nisbah (rasio) kupas dan volume produksi yang lebih tinggi. Isnaputra menilai, harga emas hitam yang solid kemungkinan besar akan berlanjut tahun ini. Penguatan ini bisa berlanjut manakala sisi pasokan tidak mampu meningkatkan volume dengan cukup cepat untuk memenuhi permintaan.

Di sisi lain, ITMG dinilai berada pada posisi yang tepat untuk memanfaatkan situasi tersebut mengingat eksposurnya yang tinggi ke pasar ekspor batubara.

Pada tiga bulan pertama 2021, sebanyak 85% dari volume penjualan ITMG merupa-kan penjualan ekspor, yang merupamerupa-kan yang tertinggi di antara perusahaan batubara yang berada di bawah cakupan Maybank Kim Eng.

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Daily News Update Page 17 "We estimate a high proportion of exports

in the near to medium term, because ITMG's coal is of medium to high quality, which is not suitable for domestic consumption," wrote Isnaputra in his research, Wednesday (19/5).

Isnaputra sees a potential increase in ITMG's net profit projection if coal prices, which are currently in the US$ 95-US$ 100 per ton range persist throughout 2021. This is because as much as 73% of the remaining sales volume will likely be determined at market prices. Maybank Kim Eng estimates that the average selling price (ASP) can reach US$ 72-US$ 75 per ton, 10-15 percent higher than the assumption of US$ 65.3 per ton.

However, the main risk o f this recommendation is a fall in coal prices and the presence of regulatory uncertainty.

“Kami memperkirakan proporsi ekspor yang tinggi dalam jangka waktu dekat hingga menengah, karena batubara ITMG memiliki kualitas sedang hingga tinggi, yang tidak sesuai untuk konsumsi domestik,” tulis Isnaputra dalam riset, Rabu (19/5).

Isnaputra melihat adanya potensi kenaikan pada proyeksi laba bersih ITMG jika harga batubara yang saat ini berada di rentang US$ 95-US$ 100 per ton bertahan sepanjang tahun 2021.

Hal ini karena sebanyak 73% dari volume penjualan yang tersisa kemungkinan besar akan ditentukan dari harga pasar. Maybank Kim Eng memperkirakan harga jual rata-rata atau average selling price (ASP) dapat men-capai US$72-US$75 per ton, lebih tinggi 10% - 15% dari asumsi yakni US$ 65,3 per ton. Namun, risiko utama atas rekomendasi ini adalah jatuhnya harga batubara dan adanya ketidakpastian peraturan (regulasi).

MDKA and BRMS Boost

Expansion, Who Is The Most

Charming?

M

INERAL mining issuers have again

attracted the attention of investors along with actions to spur business development, which are expected to boost financial performance.

PT Merdeka Copper Gold Tbk. (MDKA), for example, is ready to start the construction of the Acid, Iron, Metal or AIM project by the end of the second quarter of 2021. The project is targeted to start production in the fourth quarter of 2022 and is estimated to provide annual revenue of around US$ 170 million for more than 20 years.

MDKA dan BRMS Genjot

Ekspansi, Siapa Paling

Menawan?

S

AHAM emiten pertambangan mineral

kembali menarik perhatian investor seiring dengan aksi memacu pengem-bangan bisnis yang diharapkan dapat mengerek kinerja keuangan.

PT Merdeka Copper Gold Tbk. (MDKA), misalnya, siap memulai konstruksi proyek Acid, Iron, Metal atau proyek AIM pada akhir kuartal II/2021. Proyek itu di-targetkan akan memulai produksi pada kuartal IV/2022 dan diestimasikan mem-berikan pendapatan tahunan sekitar US$170 juta selama lebih dari 20 tahun.

(18)

Daily News Update Page 18 In addition, the AIM project by the issuer

coded as MDKA shares will generate attractive economic value, has a net present value (NPV) of US$ 407 million based on an 8 percent discount rate and an internal rate of return (IRR) of 26 percent.

This is also based on the results of the feasibility study for the AIM project which was just completed at the end of April 2021. Ciptadana Sekuritas analyst Thomas Radityo said that the NPV figure from the study succeeded in exceeding his party's estimate, which estimated at US$ 382 million.

"With this in mind, we also changed our discounted cash flow or DCF assessment for the AIM project, increasing the equity value to US$ 919 million from US$ 880 million previously estimated," Thomas said as quoted from his research published in Bloomberg, Wednesday (26/5/2021). He also maintained his buying recommen-dation and slightly raised the target price of the issuer coded as MDKA to Rp3,900 from the previous Rp3,887 per share.

The recommendation is also in line with the prospects for MDKA's performance recovery in the remainder of the year after posting a loss for the period attributable to owners of the parent company of US$ 4.98 million, inversely proportional to the profit of US$ 14.97 million in the first quarter of 2020.

Thomas estimates that the increase in copper ASP will continue and the recovery in gold production in the second quarter of 2021 will help the company increase its profitability in the remainder of this year. Separately, Panin Sekuritas analyst Juan Oktavianus sees MDKA mining operations will return to normal in the third quarter of 2021 and helps the company's perfor-mance.

Selain itu, proyek AIM oleh emiten berkode saham MDKA itu akan menghasilkan nilai ekonomi yang menarik, memiliki nilai bersih sekarang (NPV) sebesar US$407 juta berdasarkan tingkat diskonto 8 persen dan tingkat pengembalian internal (IRR) sebesar 26 persen.

Hal tersebut pun berdasarkan hasil studi kelayakan proyek AIM yang baru rampung pada akhir April 2021.

Analis Ciptadana Sekuritas Thomas Radityo mengatakan bahwa angka NPV hasil studi itu berhasil melampaui estimasi pihaknya, yang memperkirakan sebesar US$382 juta,

“Dengan pemikiran tersebut, kami pun mengubah penilaian Discounted Cash Flow atau DCF kami untuk proyek AIM, me-ningkatkan nilai ekuitasnya menjadi US$919 juta dari US$880 juta pada per-kiraan sebelumnya,” ujar Thomas dikutip dari risetnya yang dipublikasikan melalui Bloomberg, Rabu (26/5/2021).

Dia pun mempertahankan rekomendasi beli dan menaikkan sedikit target harga emiten bersandi MDKA menjadi Rp3.900 dari sebelumnya Rp3.887 per saham. Rekomendasi itu juga sejalan dengan prospek pemulihan kinerja MDKA di sisa tahun setelah membukukan rugi periode berjalan yang dapat diatribusikan kepada pemilik entitas induk sebesar US$4,98 juta, berbanding terbalik dari laba US$14,97 juta pada kuartal I/2020.

Thomas memperkirakan peningkatan ASP tembaga masih berlanjut dan pemulihan produksi emas pada kuartal II/2021 akan membantu perseroan meningkatkan profitabilitas di sisa tahun ini.

Secara terpisah, analis Panin Sekuritas Juan Oktavianus melihat operasional tambang MDKA akan kembali normal pada kuartal III/2021 dan membantu kinerja perseroan.

(19)

Daily News Update Page 19 Juan estimates that for the full year 2021,

MDKA can pocket revenues of US$ 343 million and net profit of US$ 85 million. This figure grew from the 2020 results, namely US$ 322 million in revenue and US$ 36 million in net income. However, Juan recommends to hold for MDKA with a target price of Rp 2,500.

"This recommendation is driven by; "Improved performance of the copper segment, but limited by the not operating normally of the Tujuh Bukit mine, which will still hamper the issuer's performance," wrote Juan as quoted from his research publication, Wednesday (26/5/2021). On the other hand, Sucor Sekuritas analyst Hasan recommended buying shares of PT Bumi Resources Minerals Tbk. (BRMS) with a target price of IDR 150 per share in line with a number of business develop-ments carried out by the company to increase production capacity.

BRMS is currently developing a second gold factory in Citra Palu, Sulawesi, which is scheduled for completion in the first quarter of 2022 and an additional capacity of 4,000 tons of ore per day. After completion, the volume of gold production of BRMS is expected to increase by more than 10 times.

"In line with that, we estimate t he company's EBITDA will grow to US$ 104 million in 2022, a significant jump from US$ 8 million from the 2021 EBITDA projection because this year BRMS produces around 14,626 oz and will be 114,590 oz in 2022," Hasan wrote as quoted from the publication. research, Wednesday (26/5/2021).

In addition, the 2022 net profit is projected to also jump to US$ 68 million, much higher than the 2021 net profit projection of US$ 3 million, assuming the price of gold throughout 2021-2022 is around US$ 1,800 per troy ounce.

Juan memperkirakan pendapatan untuk setahun 2021 penuh, MDKA dapat meng-kantongi pendapatan US$343 juta dan laba bersih US$85 juta. Angka itu tumbuh dari perolehan 2020, yaitu pendapatan US$322 juta dan laba bersih US$36 juta. Namun, Juan merekomendasikan hold untuk MDKA dengan target harga Rp2.500.

“Rekomendasi ini didorong oleh; pening-katan performa dari segmen tembaga, tetapi dibatasi belum beroperasinya tambang Tujuh Bukit secara normal yang masih akan menghambat kinerja emiten,” tulis Juan dikutip dari publikasi risetnya, Rabu (26/5/2021).

Di sisi lain, analis Sucor Sekuritas Hasan merekomendasikan beli untuk saham PT Bumi Resources Minerals Tbk. (BRMS) dengan target harga Rp150 per saham seiring dengan sejumlah pengembangan bisnis yang dilakukan perseroan untuk meningkatkan kapasitas produksi.

BRMS saat ini sedang mengembangkan pabrik emas kedua di Citra Palu, Sulawesi, yang dijadwalkan rampung pada kuartal I/2022 dan tambahan kapasitas 4.000 ton bijih per hari. Setelah rampung, volume produksi emas BRMS diperkirakan akan melonjak lebih dari 10 kali lipat.

“Sejalan dengan itu, kami memperkirakan EBITDA perseroan akan tumbuh menjadi US$104 juta pada 2022, lompat signifikan dari US$8 juta dari proyeksi EBITDA 2021 karena tahun ini BRMS memproduksi sekitar 14.626 oz dan akan menjadi 114.590 oz pada 2022,” tulis Hasan dikutip dari publikasi risetnya, Rabu (26/5/2021). Selain itu, laba bersih 2022 diproyeksi juga melonjak menjadi US$68 juta, jauh lebih tinggi dibandingkan dengan proyeksi laba bersih 2021 sebesar US$3 juta dengan asumsi harga emas sepanjang 2021-2022 sekitar US$1.800 per troy ounce.

(20)

Daily News Update Page 20 Not only that, in 2024 the gold production

capacity of the Bakrie group issuer will increase by another 150,000 oz, bringing the total production volume per year to 263,649 oz. At that point, BRMS' annual gold production volume will be significantly higher than the Saratoga MDKA group's gold mine of 156,000 oz per year. Editor: Muhammad Gaddafi

Tidak hanya itu, pada 2024 kapasitas produksi emas emiten grup Bakrie itu akan bertambah lagi sekitar 150.000 oz sehingga total volume produksi per tahun menjadi 263.649 oz. Pada titik itu, volume produksi emas tahunan BRMS akan jauh lebih tinggi daripada pertambangan emas grup Saratoga MDKA yang sebesar 156.000 oz per tahun. Editor : Muhammad Khadafi

Floods in China Make Coal

Prices Continue to Print Records

Tirta, CNBC Indonesia

I

T HAS BEEN three days in a row that the

ICE Newcastle thermal coal price has set a new record high. Yesterday the price of the jet stone was still able to strengthen. The ICE Newcastle thermal coal futures contract price closed up 1% to US$ 112.25/ton in trading yesterday, Tuesday (25/5/2021). This is a new record for coal prices throughout 2021.

The increase in coal prices is inseparable from the tight supply conditions in China. Moreover, ahead of the rainy season, the risk of thinning supply amidst rising demand causes local coal prices to soar. The continued import relaxation policy has also increased the demand for coal imports, which has contributed to the increase in the price of other coals.

China's Mine Safety Agency recently issued flood prevention measures warning that a typhoon was imminent. It is noted that rainfall in northern China may be very heavy, although parts of southern and eastern China may also experience serious flooding.

Banjir di China Bikin Harga

Batu Bara Cetak Rekor Terus

Tirta, CNBC Indonesia

S

UDAH tiga hari beruntun harga batu bara

termal ICE Newcastle mencetak rekor tertinggi barunya. Kemarin harga si batu legam masih mampu menguat.

Harga kontrak futures (berjangka) batu bara termal ICE Newcastle ditutup naik 1% ke US$

112,25/ton pada perdagangan kemarin, Selasa (25/5/2021). Ini merupakan rekor tertinggi baru harga batu bara sepanjang 2021.

Naiknya harga batu bara tak terlepas dari kondisi ketatnya pasokan China. Apalagi jelang musim penghujan, risiko semakin tipisnya pasokan di tengah kenaikan per-mintaan membuat harga batu bara lokal melambung. Kebijakan relaksasi impor yang terus dilakukan juga meningkatkan per-mintaan impor batu bara sehingga turut mengerek naik harga batu bara lainnya. Badan Keamanan Tambang China baru-baru ini mengeluarkan tindakan pencegahan banjir dengan memberikan peringatan bahwa

akan adanya topan. Tercatat bahwa curah hujan di Cina utara mungkin sangat deras, meskipun sebagian China selatan dan timur kemungkinan

(21)

Daily News Update Page 21 Most of China's coal mines are located in

northern provinces. The government cites recent flooding incidents at coal mines in Xinjiang and Shanxi as a reminder to the sector.

It also said that stormy weather is expected to cause power outages at the coal mine, resulting in accidents in recent years.

Coal mines will send warning signals to neighboring mines as soon as weather-related hazards are detected, so workers can evacuate in time, the government said. This could result in more frequent disruptions to coal production as reported by Argus Media.

This condition will further disrupt China's coal production. This is of course an upward risk for coal prices for both China and coal from other countries supplying to China. (twg/twg)

Sebagian besar tambang batu bara China terletak di provinsi utara. Pemerintah mengutip insiden banjir baru-baru ini di tambang batu bara di Xinjiang dan Shanxi sebagai pengingat bagi sektor tersebut. Dikatakan juga bahwa cuaca badai diper-kirakan dapat menyebabkan pemadaman listrik di tambang batu bara, yang meng-akibatkan kecelakaan dalam beberapa tahun terakhir.

Tambang batu bara akan mengirim sinyal peringatan ke tambang tetangga segera setelah bahaya terkait cuaca terdeteksi, sehingga pekerja dapat mengungsi tepat waktu, kata pemerintah. Hal ini dapat mengakibatkan gangguan yang lebih sering terhadap produksi batu bara sebagaimana diwartakan Argus Media.

Kondisi ini akan semakin membuat produksi batu bara China terganggu. Hal ini tentu saja menjadi risiko ke atas untuk harga batu bara baik China maupun batu bara negara lain yang memasok ke China. (twg/twg)

Copper price rises as looming strikes in Chile add to supply worries

MINING.COM Staff Writer

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OPPER prices advanced on Wednesday, as a workers’ strike in Chile threatened already low

supplies in the raw material market.

Futures prices for copper metal for delivery in July was up 0.51%, at $4.52 ($9,944 per tonne) on Wednesday afternoon on the Comex market in New York.

A union representing workers at BHP Group’s Escondida and Spence copper mines has rejected the company’s contract offer, Reuters reported, and called on members to walk off the job starting Thursday. Escondida is the world’s largest copper mine.

The 205 workers run the global resources company’s Integrated Operations Center, which manages pits as well as cathode and concentrator plants in the north of Chile.

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Daily News Update Page 22 Meanwhile, concerns over mining investment in South America linger as the leading presidential candidate in Peru wants to impose a similar royalty tax on copper sales proposed in Chile.

“Fundamentals remain supportive, with rising concerns over supply disruptions in South America due to labour negotiations and elections,” a Singapore-based copper analyst told Reuters.

“It (copper demand) is still weak but premiums might have hit a bottom. Previous pullback in prices also invited buying interest from end users’ restocking activities. Firm contango will also favour traders’ long and carry strategy.”

The dollar, wallowing near a five-month low against major peers on Wednesday, is making greenback-priced metals cheaper and more appealing to holders of other currencies. (With files from Reuters)

BHP acknowledges Fluor for South Flank contribution

Henry Ballard

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HP has thanked Fluor’s mining and metals business for completing works at the South

Flank iron ore mine in Western Australia on time and budget, which allowed for first ore to be produced this month.

BHP’s head of Western Australia major projects Quinton Brand highlighted Fluor’s contribution for making the operation possible.

“We would like to thank the entire Fluor team from the design engineers to the fabrication and construction teams,” Brand said.

“Fluor made an important contribution to the delivery of South Flank’s first ore.”

Fluor was contracted for engineering, procurement and construction management support on the project.

The contract involved the delivery of an 80 million tonne per annum (Mtpa) crushing and screening plant, as well as an overland conveyor and rail-loading facilities.

Fluor mining and metals business president Tony Morgan said it was gratifying to see the contract fulfilled.

“It is always very gratifying and rewarding to see a project of this magnitude completed on time and on budget,” Morgan said.

“We are proud of what we’ve been able to accomplish with BHP from the pre-construction feasibility study to improving the project’s capital efficiency, optimizing costs and schedules, and hiring indigenous and local team members.

“All of this was accomplished while navigating through the COVID-19 pandemic. We look forward to continuing our long and successful relationship with BHP.”

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Daily News Update Page 23 The contract began in July 2018 and BHP achieved first production of iron ore this May.

South Flank’s processing facility has become the largest of its kind ever built in Western Australia.

It also forms part of the world’s largest iron ore hub when BHP’s South Flank (80Mtpa) and nearby Mining Area C (65Mtpa) are combined.

China copper production seen up 6% y/y in 2021 - BGRIMM

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EFINED copper output in top consumer China could increase 6% year-on-year to 9.86

million tonnes in 2021, while demand is likely to grow 3.3% over the same period, BGRIMM Lilan Consulting Corp said on Wednesday.

The projected refined copper production includes 7.18 million tonnes of primary smelter output, which is up 5% year-on-year amid capacity ramp-ups by Chifeng Jinjian and Nanguo Copper, BGRIMM copper analyst Pan Hong said on Roskill's Copper 2021 webinar.

Consumption of refined copper in China could have seen sharp year-on-year growth of 37% in the first quarter of 2021, while demand in the second quarter might ease slightly from a high base in the same period last year, Pan said. Copper wire rod production was lower than expected due to soft demand from the power cable industry in the first three months of 2021, but copper consumption in the home appliances and automobiles sector was solid, she added. China's copper scrap imports in 2021 could increase 40% year-on-year to 1.32 million tonnes following a 73% jump in the first quarter from a low base in 2020, Pan said, as a reclassification of very high-grade scrap from waste to resource sees more material flow in. Copper concentrate imports into China could rise 7% this year, with improved shipments from Peru and Ecuador and a continued rise in supply from the United States and the Democratic Republic of Congo, Pan added. (Reporting by Mai Nguyen in Hanoi and Tom Daly; Editing by Kirsten Donovan)

Redpath Raiseboring completes another record-breaking hole – this

time at Macassa gold mine

Posted by Paul Moore

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EDPATH Raiseboring says it has completed another record-breaking hole at Kirkland Lake

Gold’s Macassa gold mine. At a length of 3,312 ft (1,010 m), this raise became the longest raisebore hole ever accomplished in the Northern Hemisphere and all of the Americas. This concludes the first of the planned twin, 12-ft diameter ventilation raises extending from surface down to 5617 Level.

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