TABLE OF CONTENTS No. Title Media Source Page

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IMA-Daily Update Page 1

Menurutnya akibat ekspor barang-barang mentah berdampak pada neraca perdagangan yang negatif. Dengan proses hilirisari, diharapkan akan memberikan nilai tambah, sehingga ekspor tidak hanya dalam bentuk barang mentah. Lebih lanjut Airlangga menyampaikan bentuk hilirisasi batu bara baik dalam bentuk dimethyl ether ataupun produk turunan lainnya.

"Diberikan kemudahan bahwa domestik market obligation dalam bentuk ya pabrik itu sendiri kemudian untuk itu royaltinya di nol kan," imbuhnya.

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Airlangga explained that miners would not immediately go downstream if they were still burdened with DMOs and royalties. So that the construction of the factory did not take place. According to him, this is what needs to be summarized to facilitate downstream investment through the omnibus law.

"So if people have a mine that wants to go downstream plus DMOs plus royalties, the factory will not wake up like it is today. This should be cut with omnibus law," he explained.

Airlangga is optimistic that structura l reforms being undertaken by the government can encourage economic growth. He mentioned the growth target in the aggregate of 6%, with the existence of structural reforms, he added, investment is expected to increase. Increased investment will be aligned with increased employment.

"Investment will create jobs and ultimately will drive economic growth," Airlangga said.

Through omnibus law Indonesia will open market access, not only as an exporter. Some countries are interested in investing for example automotive. According to him, so far the name is only from Indonesia, but the manufacturing is from abroad.

"Certainly for market expansion if it can be based on Indonesia, the effect on Indonesia will be large," he explained. (gus)

Airlangga menerangkan penambang tidak akan segera masuk ke hilirisasi jika masih dibebani dengan DMO dan royalti. Sehinga pembangunan pabrik tidak kunjung ter- laksana. Hal inilah yang menurutnya perlu diringkas untuk memudahkan investasi di hilir melalui omnibus law.

"Jadi kalau orang punya tambang mau masuk hilirisasi ditambah DMO ditambah royalti maka pabriknya akan nggak bangun-bangun seperti saat ini. Ini kan yang harus di potong dengan omnibus law," terangnya.

Airlangga optimistis reformasi struktural yang tengah dilakukan pemerintah bisa mendorong pertumbuhan ekonomi. Dirinya menyebut target pertumbuhan secara agregat sebesar 6%, dengan adanya reformasi struktural ini, imbuhnya, diharapkan investasi meningkat. Peningkatan investasi akan selaras dengan meningkatnya lapangan pekerjaan.

"Investasi akan menciptakan lapangan kerja dan pada akhirnya akan mendorong pertumbuhan ekonomi," ucap Airlangga.

Melalui omnibus law Indonesia akan membuka akses pasar, tidak hanya sebagai peng- ekspor. Beberapa negara tertarik melakukan investasi misalnya otomotif. Menurutnya selama ini hanya namanya saja dari Indonesia, namun manufakturnya dari luar negeri.

"Tentunya untuk ekspansi pasar kalau bisa berbasis Indonesia maka efek ke Indonesianya besar," paparnya. (gus)

Adaro Stays Focusing on Medium Calorie Coal Production

in 2020

A

LTHOUGH it has not yet officially decided how many production targets to be targeted, PT Adaro Energy Tbk (ADRO) ensures...

Adaro Tetap Fokus Produksi Batubara Kalori Sedang di 2020

M

ESKI belum resmi memutuskan berapa target produksi yang akan dibidik, PT Adaro Energy Tbk (ADRO) memastikan...

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PT Adaro Energy Tbk (ADRO) ensures it will remain focused on producing medium- sized coal in large quantities by 2020. That proves that Adaro is a coal issuer that is quite resilient in the face of market turmoil and coal prices that are currently declining.

This will be done not unreasonably, but has indeed been prepared for the integration of a number of businesses managed by Adaro.

The medium calorie coal which is projected to be produced this year, will be used to supply coal to the Bhimasena Power Indonesia Power Plant and Tanjung Power Indonesia Power Plant. Both of the power plants are power plants managed by PT Adaro Power.

In 2019, Adaro's coal production will also be dominated by medium calorie coal, which is 4,000 - 5,000 kcal/kg, which is needed for power generation. In addition, Adaro also produces semi-soft coking coal from Adaro Metcoal Companies amounting to 0.93 million tons.

In 2020, in addition to consistently producing large quantities of moderate calorie coal, Adaro will also operate the Adaro Metcoal coal mine in Central Kalimantan and the kestrel mine in Australia. Adaro hopes that its performance in 2020 can be more brilliant with the support of a number of businesses it operates.

For information, ADARO's revenue in the third quarter of 2019 was US$ 2.65 billion from the same period the previous year of US$ 2.67 billion. (*)

PT Adaro Energy Tbk (ADRO) memastikan masih akan tetap fokus untuk memproduksi batubara kalori sedang dalam jumlah besar pada tahun 2020 ini. Itu membuktikan bahwa Adaro merupakan salah satu emiten batubara yang cukup tangguh menghadapi gejolak pasar dan harga batubara yang merosot saat ini.

Hal itu akan dilakukan bukan tak ber- alasan, melainkan memang sudah diper- siapkan untuk integrasi sejumlah bisnis yang dikelola Adaro. Batubara kalori sedang yang diproyeksikan akan di- produksi pada tahun ini, akan digunakan untuk memasok kebutuhan batubara pada PLTU Bhimasena Power Indonesia dan PLTU Tanjung Power Indonesia. Kedua PLTU tersebut merupakan PLTU yang dikelola oleh PT Adaro Power.

Pada 2019, produksi batubara Adaro juga didominasi oleh batubara kalori sedang, yaitu 4.000-5.000 kcal/kg, yang dibutuh- kan untuk pembangkit listrik. Selain itu, Adaro juga memproduksi batubara kokas semi lunak dari Adaro Metcoal Companies sebesar 0,93 juta ton.

Pada 2020 ini, selain akan konsisten memproduksi batubara kalori sedang dalam jumlah besar, Adaro juga akan meng- operasikan tambang batubara kokas Adaro Metcoal di Kalimantan Tengah dan tambang kestrel di Australia. Adaro ber-harap kinerjanya pada 2020 ini dapat kian cemerlang dengan didukung oleh sejumlah bisnis yang dijalankannya.

Sebagai informasi, pendapatan ADARO pada kuartal III-2019 sebesar US$ 2,65 miliar dari periode yang sama tahun sebelumnya US$ 2,67 miliar. (*)

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Amman Mineral concentrate production decreased around

7% in 2019

Reporter: Ridwan Nanda Mulyana | Editor:

Yoyok

P

T AMM AN Mine ra l Nusa Ten ggara (AMNT) experienced a decline in copper concentrate production throughout 2019.

Realization of production from this subsidiary of Medco Energy Group fell by around 7% compared to 2018.

AMNT Head of Corporate Communication Kartika Oktaviana said the decline in concentrate production was only temporary. According to him, this is a natural consequence of fluctuations in the mine cycle.

Because, Kartika revealed that AMNT still relies on production from the Batu Hijau Mine, and the mine block has now entered phase 7, the overburden removal stage.

"This reduction is a natural consequence of fluctuations in the mine cycle and is temporary. Indeed, the Batu Hijau Mine is currently in phase 7 development, so that later it can get better quality ore," Kartika told Kontan.co.id, Tuesday (1/28).

Unfortunately, Kartika only mentioned that the decline in AMNT copper concentrate production in 2019 was in the range of 7%

compared to 2018. Kartika was still reluctant to provide detailed figures regarding the operational achievements achieved by AMNT.

However, by comparison, in 2018, the production of AMNT concentrate was 310,000 dry metric tons (dmt) with 141.5 Mlbs of copper and 70.7 koz of gold. Under the conditions of...

Produksi konsentrat Amman Mineral turun sekitar 7% di

tahun 2019

Reporter: Ridwan Nanda Mulyana | Editor:

Yoyok

P

T AMMAN Mineral Nusa Tenggara (AMNT) mengalami penurunan produksi konsentrat tembaga sepanjang tahun 2019. Realisasi produksi dari anak usaha Medco Energy Group ini turun sekitar 7% dibandingkan tahun 2018.

Head of Corporate Communication AMNT Kartika Oktaviana mengatakan, penurunan produksi konsentrat ini hanya bersifat sementara. Menurutnya, hal itu merupakan konsekuensi yang wajar dari fluktuasi siklus tambang.

Sebab, Kartika mengungkapkan bahwa AMNT masih mengandalkan produksi dari Tambang Batu Hijau, dan saat ini blok tambang tersebut telah memasuki fase 7, yaitu tahap pengupasan batuan penutup.

"Penurunan ini konsekuensi wajar dari fluktuasi siklus tambang dan sifatnya sementara. Memang saat ini Tambang Batu Hijau berada pada pengembangan fase 7, sehingga nantinya bisa mendapatkan ore dengan kualitas lebih baik," kata Kartika kepada Kontan.co.id, Selasa (28/1).

Sayangnya, Kartika hanya menyebutkan penurunan produksi konsentrat tembaga AMNT di 2019 berada di kisaran 7%

dibanding tahun 2018. Kartika masih enggan memberikan detail angka mengenai raihan operasional yang diraih AMNT.

Namun sebagai perbandingan, pada tahun 2018 lalu, produksi konsentrat AMNT berada di angka 310.000 dry metric ton (dmt) dengan 141,5 Mlbs tembaga dan 70,7 koz emas.

Dalam kondisi...

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Under the conditions of phase 7 development at the Batu Hijau Mine, AMNT relied on preparations from the stockpile.

Meanwhile, related to the development of phase 7 of the Batu Hijau Mine, Kartika said that until the end of 2019, the realization would be 9% above the planned rock stripping target.

Kartika also still does not want to disclose details of AMNT's plans and targets for 2020. Including regarding investment funds or capital expenditure (capex) prepared by AMNT.

However, he said that AMNT would continue to strip the waste rock in phase 7.

Kartika said, at this time AMNT would also utilize production from existing stockpiles and be prepared from previous phases.

"The company is also focused on improving operational efficiency that prioritizes security," he said.

In addition to the Batu Hijau Mine, AMNT is also conducting exploration in the Elang Block. Kartika explained, in 2019, exploration in Elang is still ongoing to increase the density of the drill distance and will continue this year.

"The aim is to increase the level of trust in mineral resources in Elang. In 2020, similar drilling efforts will continue," he explained.

Dalam kondisi pengembangan fase 7 di Tambang Batu Hijau, AMNT mengandalkan olahan dari stockpile.

Adapun, terkait dengan pengembangan fase 7 Tambang Batu Hijau, Kartika menyampaikan hingga akhir 2019, realisasinya 9% di atas target pengupasan batuan yang di- rencanakan.

Kartika juga masih belum mau membuka detail rencana dan target AMNT di tahun 2020 ini. Termasuk mengenai dana investasi atau capital expenditure (capex) yang di- siapkan AMNT.

Namun, ia mengatakan bahwa AMNT akan tetap melanjutkan pengupasan batuan buangan dalam fase 7. Kartika bilang, pada saat ini AMNT juga masih akan meman-faatkan produksi dari stockpile yang sudah ada dan disiapkan dari fase-fase terdahulu.

"Perusahaan juga fokus dalam meningkatkan efisiensi operasional yang mengutama- kan keamanan," ungkapnya.

Selain di Tambang Batu Hijau, AMNT juga tengah melakukan eksplorasi di Blok Elang.

Kartika menerangkan, pada tahun 2019, eksplorasi di Elang masih terus berjalan untuk meningkatkan kerapatan jarak bor dan akan berlanjut di tahun ini.

"Tujuannya meningkatkan tingkat keper- cayaan sumber daya mineral di Elang. Pada 2020 pun masih akan dilanjutkan upaya pengeboran serupa," jelasnya.

ITA believes that tin demand in 2020 will recover

Finna U. Ulfah

T

HE INTERNATIONAL Tin Association or ITA predicts tin demand will recover from last year's lows so prices will rise to higher positions.

ITA Yakin Permintaan Timah pada 2020 Pulih

Finna U. Ulfah

I

NTERNATIONAL Tin Association atau ITA memprediksi permintaan timah akan pulih dari posisi terendahnya tahun lalu sehingga harga akan naik ke posisi yang lebih tinggi.

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ITA Market Analyst James Willoughby said that tin demand will increase along with 2020 which is believed to be a year of recovery for the global economy as a whole, as well as base metals.

"There has been an increase in macro- economic data and tin prices have continued to increase since the beginning of the year," James said as quoted from his official statement on Tuesday (1/28/

2020).

The increase in demand will still be led by the solder sector and chemicals which are believed to be potential sources of renewed demand.

James is quite optimistic about China's solder market this year, the world's largest tin consumer. Meanwhile, almost half of China's tin demand is for solder which is mainly used in the electronics industry to connect components.

Nevertheless, he considered supply spread in the market was still quite a lot so that it would still limit price increases this year despite the global supply deficit starting to run low.

Citing an ITA report in December, the global deficit is expected to fall to 1,900 tons in 2020 from last year's deficit of 20,000 tons.

Meanwhile, tin production is predicted to rise 5.8% to 352,000 tons next year, while demand will only slightly increase 0.4% to 353,900 tons.

The two world's top producers, Yunnan Tin China and PT Timah Indonesia, are expected to increase production capacity, although there may also be a consolidation as many small smelter plants operate with a capacity of less than 50%.

James projects that tin prices will move around US$ 18,000 per ton this year.

Analis Pasar ITA James Willoughby mengatakan bahwa permintaan timah akan meningkat seiring dengan 2020 yang diyakini sebagai tahun pemulihan bagi ekonomi global secara keseluruhan, dan juga logam dasar.

“Telah ada peningkatan dalam data ekonomi makro dan harga timah terus meningkat sejak awal tahun,” ujar James seperti dikutip dari keterangan resminya, Selasa (28/1/ 2020).

Peningkatan permintaan masih akan di- pimpin oleh sektor solder dan bahan kimia yang diyakini sebagai sumber potensial dari permintaan yang diperbarui.

James cukup optimistis terhadap pasar solder China tahun ini, konsumen timah terbesar dunia. Adapun, hampir setengah dari permintaan timah China adalah untuk solder yang terutama digunakan dalam industri elektronik untuk menghubungkan komponen.

Kendati demikian, dia menilai pasokan yang tersebar di pasar masih cukup banyak sehingga akan tetap membatasi kenaikan harga pada tahun ini meskipun defisit pasokan global mulai menipis.

Mengutip laporan ITA pada Desember lalu, defisit global diperkirakan turun menjadi 1.900 ton pada 2020 dari defisit tahun lalu sebesar 20.000 ton. Sementara itu, produksi timah diprediksi naik 5,8% menjadi 352.000 ton pada tahun depan, sedangkan permintaan hanya akan naik tipis 0,4% menjadi 353.900 ton.

Kedua produsen teratas dunia, Yunnan Tin China dan PT Timah Indonesia, diperkira-kan meningkatkan kapasitas produksi walaupun kemungkinan juga ada konsolidasi karena banyak pabrik peleburan kecil beroperasi dengan kapasitas kurang dari 50%.

James memproyeksikan harga timah bergerak di kisaran US$18.000 per ton pada tahun ini.

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On the other hand, based on Bloomberg data, on trading Monday (1/27/2020) the price of tin on the London stock exchange fell sharply 3.44% to US$ 16,270 per ton.

Tin prices canceled its gains in the last two weeks of trading due to the corona virus.

In fact, in trading 21/1/2020 the price of tin has touched its highest level in the range of US$ 17,850 per ton, a level that has not been seen since July 2019.

However, James said that falling prices could be good news for the physical market, which has seen prices separated from fundamentals in recent weeks on the back of seasonal optimism from speculators.

The January-March period is generally the strongest period with the Chinese New Year festival and disruptions from Indonesian export regulations usually tighten short-term supply. E d i t o r : M . Taufikul Basari

Di sisi lain, berdasarkan data Bloomberg, pada perdagangan Senin (27/1/2020) harga timah di bursa London bergerak melemah tajam 3,44% menjadi US$16.270 per ton.

Harga timah membatalkan penguatannya pada perdagangan dua pekan terakhir akibat virus corona.

Padahal, pada perdagangan 21/1/2020 harga timah telah menyentuh level ter-tingginya di kisaran US$17.850 per ton, level yang tidak dijumpainya sejak Juli 2019.

Namun, James mengatakan bahwa penurunan harga tersebut bisa menjadi kabar baik bagi pasar fisik, yang telah melihat harga dipisahkan dari fundamental dalam beberapa pekan terakhir di belakang optimisme musiman dari spekulan.

Periode Januari-Maret umumnya merupakan periode terkuat dengan festival Tahun Baru Cina dan gangguan dari peraturan ekspor Indonesia biasanya memperketat pasokan jangka pendek. Editor : M. Taufikul Basari

Smelter Electricity Needs Reach 4,798 MW

Antara | The economy

T

HE MINISTRY of Energy and Mineral Resources (ESDM) said the electricity supply to meet the needs of the processing and refining industry (smelters) in 2024 reached 4,798 megawatts (MW).

"We must be able to meet the electricity needs for the smelter industry in 2024 by 4,798 megawatts," explained EMR Minister Arifin Tasrif in a written statement received by Antara in Jakarta on Wednesday (1/29).

Kebutuhan Listrik Smelter Capai 4.798 MW

Antara | Ekonomi

K

EMENTERIAN Energi dan Sumber Daya Mineral (ESDM) menyebutkan pasokan listrik guna memenuhi kebutuhan industri pengolahan dan pemurnian (smelter) pada tahun 2024 mencapai 4.798 megawatt (MW).

"Kita harus bisa memenuhi kebutuhan listrik untuk industri smelter pada tahun 2024 sebesar 4.798 megawatt," urai Menteri ESDM Arifin Tasrif dalam keterangan tertulis yang diterima Antara di Jakarta, Rabu (29/1).

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Arifin said the government consistently increased the value added of minerals through the development of the domestic smelter industry, where in five years there were 52 smelters to be built, namely 4 copper, iron, lead and zinc smelters, 29 nickel smelters, 9 bauxite smelters and 2 manganese smelters.

Of the 52 smelters that were built, it is projected that electricity needs of 4,798 MW are spread across several regions, including Bengkulu (5 MW), Banten (68.5 MW), West Java (39 MW), East Java (821.9 MW), Nusa Southeast West (300 MW), East Nusa Tenggara (20 MW), Riau Islands (45 MW), West Kalimantan (499 MW), South Kalimantan (10 MW), Central Sulawesi (959 MW), Southeast Sulawesi (1,053 MW), Maluku and North Maluku (941 MW).

To meet these needs, the Ministry of Energy and Mineral Resources has 3 (three) strategic policies, namely the fulfillment of electricity by the State Electricity Company, the fulfillment of electricity by smelter developers and collaboration between smelter developers with non-PLN. (E-1)

Arifin menyatakan pemerintah konsisten meningkatkan nilai tambah mineral melalui pembangunan industri smelter dalam negeri, dimana dalam jangka lima tahun terdapat 52 smelter yang akan terbangun, yakni 4 smelter tembaga, besi, timbal dan seng, 29 smelter nikel, 9 smelter bauksit dan 2 smelter mangan.

Terhadap 52 smelter yang terbangun, diproyeksikan kebutuhan listrik sebesar 4.798 MW tersebar di beberapa wilayah, antara lain Bengkulu (5 MW), Banten (68,5 MW), Jawa Barat (39 MW), Jawa Timur (821,9 MW), Nusa Tenggara Barat (300 MW), Nusa Tenggara Timur (20 MW), Kepulauan Riau (45 MW), Kalimantan Barat (499 MW), Kalimantan Selatan (10 MW), Sulawesi Tengah (959 MW), Sulawesi Tenggara (1.053 MW), Maluku dan Maluku Utara (941 MW).

Untuk memenuhi kebutuhan tersebut, Kementerian ESDM memiliki 3 (tiga) kebijakan strategis, yakni pemenuhan listrik oleh Perusahaan Listrik Negara, pemenuhan listrik oleh pengembang smelter serta kolaborasi antara pengembang smelter dengan non-PLN. (E-1)

ITMG projects coal production in 2020 lower than last year

Reporter: Flemon the Great | Editor: Tendi

P

T INDO Tambangraya Megah Tbk (ITMG) projects that coal production this year will not be higher than production in 2019.

ITMG Director of Investor Relations Yulius Gozali said, the decline in production was due to the large amount of supply in the market.

ITMG proyeksikan produksi batubara di 2020 lebih rendah

dari tahun lalu

Reporter: Filemon Agung | Editor: Tendi

P

T INDO Tambangraya Megah Tbk (ITMG) memproyeksikan produksi batubara pada tahun ini tidak akan lebih tinggi dari produksi di tahun 2019 lalu. Direktur Hubungan Investor ITMG Yulius Gozali menuturkan, penurunan produksi ini disebabkan masih banyaknya pasokan yang ada di pasar.

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"The production target for 2020 is expected to be lower than in 2019 along with the abundant supply in the market. For the production target is still in the finalization stage," Yulius explained to Kontan.co.id, Tuesday (1/28).

Just so you know, in 2019 the ITMG-coded issuer is targeting production of 23.6 million tons of coal with sales of 26.5 million tons.

Furthermore, Yulius continued, until closing in 2019, capital expenditure (capex) absorption certainly has not been fully absorbed. Unfortunately he still could not specify the amount of absorption.

Kontan.co.id noted, this year ITMG has budgeted capital expenditure of US$ 121.9 million. As of September 30, 2019, capital expenditure that had been absorbed was US$ 32.5 million.

What is clear, throughout 2019 capital expenditure has been allocated to a number of projects such as port expansion, maintenance of equipment and machine tools.

In line with the lower production target from the previous year, Yulius explained that the capital expenditure budget in 2020 will also be lower than the previous year.

"The capital expenditure budget for 2020 will be smaller than in 2019 in line with the cost efficiency run by the company," Yulius said. Unfortunately, Yulius still does not want to mention the amount of budgeted capital expenditure.

Yulius added, capital expenditure in 2020 will be allocated for machine tools and equipment.

Launching the financial statements in the third quarter of 2019, ITMG revenues dropped 7.8% to US$ 1.3 billion. As a result, ITMG's profits were eroded by 49.23% to US$ 101.22 million.

"Target produksi tahun 2020 diperkirakan lebih rendah dibandingkan tahun 2019 seiring dengan banyaknya supply di pasar. Untuk target produksinya masih dalam tahap finalisasi," terang Yulius kepada Kontan.co.id, Selasa (28/1).

Asal tahu saja, pada 2019 emiten bersandi ITMG ini membidik produksi produksi sebanyak 23,6 juta ton batubara dengan penjualan 26,5 juta ton.

Lebih jauh Yulius melanjutkan, hingga tutup tahun 2019, serapan belanja modal (capital expenditure/capex) dipastikan belum terserap sepenuhnya. Sayangnya ia masih belum bisa merinci soal jumlah serapan tersebut.

Kontan.co.id mencatat, tahun ini ITMG menganggarkan belanja modal sebesar US$

121,9 juta. Per 30 September 2019, belanja modal yang telah terserap sebanyak US$ 32,5 juta.

Yang terang, sepanjang 2019 belanja modal telah dialokasikan pada sejumlah proyek seperti perluasan pelabuhan, perawatan peralatan dan perlengkapan mesin.

Sejalan dengan target produksi yang lebih rendah dari tahun sebelumnya, Yulius menjelaskan anggaran belanja modal di 2020 juga akan lebih rendah dari tahun sebelumnya.

"Anggaran belanja modal untuk tahun 2020 akan lebih kecil dibandingkan tahun 2019 sejalan dengan efisiensi biaya yang di- jalankan oleh perusahaan," ujar Yulius.

Sayangnya, Yulius masih belum mau menge- mukakan besaran belanja modal yang dianggarkan.

Yulius menambahkan, belanja modal di 2020 akan dialokasikan untuk peralatan dan perlengkapan mesin.

Melansir laporan keuangan pada kuartal III 2019, pendapatan ITMG turun 7,8% menjadi US$ 1,3 miliar. Alhasil, laba ITMG ikut ter- gerus 49,23% menjadi US$ 101,22 juta.

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Yulius said that world coal prices would depend on global supply and demand. The slowing growth of the world economy today as a result of the trade war will affect the growth of coal demand.

Meanwhile, the coal import policy by the Chinese Government is also a determining factor in global coal prices. "Considering this country is the largest producer and consumer of coal in the world," he added.

If traced, ITMG coal sales as of the third quarter yesterday were dominated by exports to Southeast Asia non-Indonesia, India, and Pakistan worth US$ 530.94 million. Then followed by Taiwan, China, Hong Kong, Korea for US$ 328.95 million.

Yulius admitted, export demand was still relatively stable despite a decline in coal prices. Because, most ITMG customers are premium customers that match the company's coal production.

ITMG is also trying to maintain its existing export market share while continuing to explore new market potentials in developing countries such as Vietnam, Bangladesh, and Myanmar.

Meanwhile, Yulius did not explain in detail the ITMG coal production achievements specifically for the domestic market obligation (DMO) to date. However, he said it was marketing 15% of the total coal sales volume for the domestic market this year.

As for the rest, the company will make a quota transfer to meet the DMO coal obligations. "Most of our coal is high in calories so it is not suitable for the domestic market," he said.

Yulius mengatakan, harga batubara dunia akan bergantung pada posisi pasokan dan permintaan global. Pertumbuhan ekonomi dunia yang melambat saat ini sebagai akibat perang dagang akan mempengaruhi pertumbuhan permintaan batubara.

Sementara itu, kebijakan impor batubara oleh Pemerintah China juga merupakan faktor penentu harga batubara global.

“Mengingat negara ini adalah produsen sekaligus konsumen batubara terbesar di dunia,” imbuhnya.

Jika ditelusuri, penjualan batubara ITMG per kuartal tiga kemarin didominasi ekspor ke Asia Tenggara non-Indonesia, India, dan Pakistan senilai US$ 530,94 juta. Kemudian diikuti oleh Taiwan, China, Hong Kong, Korea sebesar US$ 328,95 juta.

Yulius mengaku, permintaan ekspor masih tergolong stabil meski terjadi penurunan harga batubara. Sebab, kebanyakan pelanggan ITMG merupakan pelanggan premium yang cocok dengan jenis batubara produksi perusahaan.

ITMG juga berusaha mempertahankan pangsa pasar ekspor yang sudah ada sembari terus menjajaki potensi pasar baru di negara-negara berkembang seperti Vietnam, Bangladesh, dan Myanmar.

Sementara itu, Yulius tidak menjelaskan secara rinci capaian produksi batubara ITMG khusus untuk domestic market obligation (DMO) sampai saat ini. Namun, ia bilang pihaknya memasarkan 15% dari volume penjualan batubara secara keseluruhan untuk pasar domestik di tahun ini.

Sedangkan untuk sisanya, perusahaan akan melakukan transfer kuota demi memenuhi kewajiban DMO batubara. “Sebagian besar batubara kami berkalori tinggi sehingga tidak cocok bagi pasar dalam negeri,” ujar dia.

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Freeport Indonesia Small Profit, Mining Holding Boss: Be patient

Reporter: Caesar Akbar, Editor: Ali Akhmad Noor Hidayat

M

ANAGING Director of Mining Industry Indonesia Holding (MIND ID) Orias Petrus Moedak asked all parties to be patient about the profits generated by PT Freeport Indonesia. Later the House of Representatives asked about the small profit of the mining company.

"We bought Freeport, indeed, in the past two years, we are planning a belt because it is transitioning from open pit to underground, wait to be patient for two more years," Orias said at the Aryaduta Hotel, Jakarta, Wednesday, January 29, 2020.

According to Orias, if later the transition conditions are finished and normal, the company can earn US$ 1 billion per year. If that happens, he said, the impact will be positive for the company. Nevertheless, the company must be patient to hold breathing in the next two years until 2022.

"It's okay to hold your breath for two years, even though profits are down but EBITDA is still large. Our EBITDA is still Rp. 12 trillion.

If from Freeport, Rp. 15 trillion comes to Rp.

27 trillion later, but wait two more years,"

Orias said.

Reported by Bisnis, PT Freeport Indonesia (PTFI) 's production performance last year experienced a significant decline compared to 2018. Freeport-McMoRan President &

CEO Richard C. Adkerson said the decline occurred due to a mining transition from an open pit mine to an underground mine.

"Performance in quarter IV/2019 was better than quarter IV/2018, although overall it experienced a decline.

Laba Freeport Indonesia Kecil, Bos Holding Tambang: Sabar

Reporter: Caesar Akbar, Editor: Ali Akhmad Noor Hidayat

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IREKTUR Utama Holding Pertambangan Mining Industry Indonesia (MIND ID) Orias Petrus Moedak meminta semua pihak bersabar mengenai laba yang dihasilkan PT Freeport Indonesia. Belakangan Dewan Perwakilan Rakyat sempat menanyakan soal kecilnya laba perusahaan tambang itu.

"Kami membeli Freeport ya memang dua tahun ini kami berencana ikat pinggang karena sedang transisi dari open pit ke underground, tunggulah bersabar dua tahun lagi," ujar Orias di Hotel Aryaduta, Jakarta, Rabu, 29 Januari 2020.

Menurut Orias, kalau nantinya kondisi transisi sudah selesai dan menjadi normal, perseroan bisa mendapat pemasukan US$ 1 miliar per tahun. Kalau itu sudah terjadi, tutur dia, maka dampaknya pun akan positif bagi perusahaan.

Kendati demikian, perseroan mesti bersabar menahannafas dalam dua tahun ke depan hingga 2022.

"Enggak apa-apa menahan nafas dua tahun, meski laba turun tapi EBITDA masih besar.

EBITDA kami masih Rp 12 triliun. Kalau dari Freeport masuk Rp 15 triliun ya menjadi Rp 27 triliun nantinya, tapi tunggulah sabar dua tahun lagi," tutur Orias.

Dilansir dari Bisnis, kinerja produksi PT Freeport Indonesia (PTFI) sepanjang tahun lalu mengalami penurunan yang signifikan dibandingkan dengan 2018. President & CEO Freeport-McMoRan Richard C. Adkerson mengatakan penurunan ter sebut terjadi karena adanya transisi penambangan dari tambang terbuka ke tambang bawah tanah.

"Kinerja di kuartal IV/2019 lebih baik dari kuartal IV/2018, meski secara keseluruhan mengalami penurunan.

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This reflects the extension of mining in the Grasberg open pit which was completed in December 2019," he said in a conference call held on Friday, January 24, 2020.

Based on Freeport-McMoRan Inc.'s 2019 operations and financial reports, Freeport Indonesia's copper production during the January-December 2019 period was 607 million pounds. The amount dropped 47.67 percent of 2018 copper production of 1.16 million pounds.

Freeport Indonesia's copper sales also experienced a sharp decline. Over the past year Freeport Indonesia's copper sales were only 667 million pounds, down 40.9 percent when compared with 2018 sales of 1.13 billion pounds. In addition, the average selling price also decreased from US$ 2.89 per pound to US$ 2.72 per pound.

Similar results also occur for gold commodities. Freeport Indonesia's gold production in 2019 was recorded at 863,000 ounces, a sharp drop of 64.27 percent from the realization of production in the same period last year of 2.49 million ounces. Its sales also experienced a significant drop of 58.87 percent from 2.37 million ounces to 973,000 ounces over the past year.

However, the average selling price of 2019 gold increased to US$ 1,416 per ounce from the 2018 selling price of US$ 1,254 per ounce. He estimates that the consolidated sales volume from Freeport Indonesia will approach 750 million copper pounds and 0.8 million ounces of gold in 2020. "As PTFI continues to increase production from its underground ore body, metal production is expected to increase significantly in 2021," Richard said. CAESAR AKBAR | BUSINESS

Ini mencerminkan perpanjangan penambangan di Grasberg open pit yang selesai pada Desember 2019," ujarnya dalam conference call yang dilaksanakan Jumat 24 Januari 2020.

Berdasarkan laporan operasi dan keuangan 2019 Freeport-McMoRan Inc., produksi tembaga Freeport Indonesia sepanjang periode Januari-Desember 2019 sebanyak 607 juta pounds. Jumlah tersebut anjlok 47,67 persen dari produksi tembaga 2018 sebanyak 1,16 juta pounds.

Penjualan tembaga Freeport Indonesia juga mengalami penurunan tajam. Sepanjang tahun lalu penjualan tembaga Freeport Indonesia hanya 667 juta pounds, turun 40,9 persen bila dibandingkan dengan penjualan 2018 sebanyak 1,13 miliar pounds. Selain itu, harga jual rata-ratanya juga mengalami penurunan dari US$2,89 per pounds menjadi US$2,72 per pounds.

Hasil serupa juga terjadi untuk komoditas emas. Produksi emas Freeport Indonesia pada 2019 tercatat sebanyak 863.000 ounces, merosot tajam sebesar 64,27 persen dari realisasi produksi pada periode yang sama tahun lalu sebanyak 2,49 juta ounces.Penjualannya pun mengalami turun signifikan sebesar 58,87 persen dari 2,37 juta ounces menjadi 973.000 ounces sepanjang tahun lalu.

Namun, rerata harga jual emas 2019 mengalami kenaikan menjadi US$1.416 per ounce dari rerata harga jual 2018 senilai US$1.254 per ounce.Dia memperkirakan volume penjualan konsolidasi dari Freeport Indonesia akan mendekati 750 juta pounds tembaga dan 0,8 juta ounces emas pada tahun 2020. "Karena PTFI terus meningkat produksi dari badan bijih bawah tanahnya, produksi logam diharapkan meningkat secara signifikan pada 2021," kata Richard.

CAESAR AKBAR | BISNIS

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Corona Virus & Germany, Triggers Coal Price Drop

Tirta Citradi, CNBC Indonesia

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HE COAL price of the Newcastle ICE benchmark contract closed flat in the last trade. In the last two weeks, coal prices have dropped significantly in line with Germany's serious efforts to end coal consumption and the Corona virus outbreak that has caused world upheaval lately.

Coal prices closed at US$ 67.55/ton at the close of trading yesterday. In the last two weeks, coal prices have been corrected deeply.

In the January 13-28 period, coal prices recorded a correction of 12.4%. As we all know, on January 13, coal prices shot up and set a record high since the beginning of the year at the level of US$ 77.15/ton.

Splashy spread of the Corona virus that attacks Wuhan City (China) since the beginning of this year is very shocking the market. Because the virus that is still one type with the cause of SARS has killed hundreds of people.

Citing the latest ArcGis spatial mapping data by John Hopkins CSSE, the number of cases has now reached 5,578 with 131 deaths.

Meanwhile, the number of patients declared to have recovered reached 107 people.

The most cases are reported in China. Until the latest update was released, there have been 5,498 cases reported in China. The remaining 80 cases were reported in 16 other countries. This outbreak makes dozens of cities in China in quarantine status.

Virus Corona & Jerman, Pemicu Jebloknya Harga Batu Bara

Tirta Citradi, CNBC Indonesia

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ARGA batu bara kontrak acuan ICE Newcastle ditutup flat pada perdagangan terakhir. Dalam dua pekan terakhir, harga batu bara anjlok signifikan seiring dengan upaya serius Jerman untuk mengakhiri konsumsi batu bara serta wabah virus Corona yang menggemparkan dunia akhir-akhir ini.

Harga batu bara ditutup di level US$ 67,55/

ton pada penutupan perdagangan kemarin.

Dalam dua pekan terakhir, harga batu bara telah terkoreksi dalam.

Pada periode 13-28 Januari, harga batu bara mencatatkan koreksi sebesar 12,4%. Seperti diketahui bersama, pada 13 Januari, harga batu bara melesat dan mencetak rekor tertingginya sejak awal tahun di level US$ 77,15/ton.

Heboh menyebarnya virus Corona yang menyerang Kota Wuhan (China) sejak awal tahun ini sangat menggemparkan pasar.

Pasalnya virus yang masih satu jenis dengan penyebab SARS ini telah menewaskan ratusan orang.

Mengutip data teranyar data pemetaan spasial ArcGis oleh John Hopkins CSSE, jumlah kasus saat ini sudah mencapai 5.578 dengan korban meninggal mencapai 131 orang.

Sementara itu, pasien yang dinyatakan telah pulih jumlahnya mencapai 107 orang.

Kasus paling banyak dilaporkan di China.

Hingga update terbaru tersebut dirilis, sudah ada 5.498 kasus dilaporkan di China.

Sebanyak 80 kasus sisanya dilaporkan di 16 negara lain. Wabah ini membuat belasan kota di China berada dalam status karantina.

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Public transportation facilities in those cities which are inhabited by more than 35 million Chinese residents are closed. This effort was made in order to control the spread of the virus so it does not spread.

Although the mortality rate was not as severe as in the past SARS, the spread of this virus took place very quickly. In a matter of less than one month the virus has infected more than 5,000 people. More than 100 declared dead.

If you look in the mirror at SARS, then an outbreak caused by the Corona virus could cause China's economic growth to fall by 1.2 percentage points. This decline in economic growth is certainly not good news for the market, given that China is the second largest economy in the world and the largest consumer of coal.

The sector that was really most affected was the service sector, especially transportation and tourism. At present China is on Chinese New Year holiday.

Usually China is one week off when Chinese New Year. But due to this virus, there is the possibility of a new year holiday extended.

Trading activities are also still quiet. Based on Refinitiv Coal Flows data, Chinese coal imports since the beginning of the year amounted to 20.53 million tons.

This amount is still lower than the same period last year which reached 21.88 million tons. This means that China's coal imports, on a month-to-date basis, dropped 6.2% yoy.

Germany's Step in Response to Climate Change, a Threat to the Black Stone Another factor that is also estimated to have the potential to reduce coal imports is the increased output of the hydro model in China. As a result, until February 2020,...

Fasilitas transportasi umum di kota-kota tersebut yang dihuni oleh lebih dari 35 juta penduduk China ditutup. Upaya ini dilakukan demi mengendalikan penyebaran virus agar tidak meluas.

Walau tingkat mortalitasnya tak separah saat SARS dulu, penyebaran virus ini berlangsung sangat cepat. Dalam hitungan kurang dari satu bulan virus telah menjangkiti lebih dari 5.000 orang. Lebih dari 100 dinyatakan meninggal dunia.

Jika berkaca pada SARS, maka wabah akibat virus Corona bisa menyebabkan pertumbuhan ekonomi China turun hingga 1,2 persen poin. Penurunan pertumbuhan ekonomi ini tentu bukan kabar yang baik untuk pasar, mengingat China merupakan ekonomi terbesar kedua di dunia dan konsumen terbesar batu bara.

Sektor yang benar-benar paling kena dampaknya adalah sektor jasa terutama transportasi dan pariwisata. Saat ini China sedang libur tahun baru imlek. Biasanya China libur satu minggu kala imlek. Namun akibat virus ini, ada kemungkinan libur tahun baru diperpanjang.

Aktivitas perdagangan juga masih sepi.

Berdasarkan data Refinitiv Coal Flows, impor batu bara China sejak awal tahun jumlahnya mencapai 20,53 juta ton.

Jumlah ini masih lebih rendah dibanding periode yang sama tahun lalu yang mencapai 21,88 juta ton. Artinya impor batu bara China secara month-to-date turun 6,2% yoy.

Langkah Jerman Respons Perubahan Iklim, Ancaman Bagi Si Batu Hitam Faktor lain yang juga diperkirakan ber- potensi besar menurunkan impor batu bara adalah output hydro model China yang naik.

Akibatnya hingga Februari 2020,...

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As a result, until February 2020, the amount of coal as an energy source for power plants that can be replaced with hydropower reaches 2.7 million tons, especially for several provinces in China such as Sichuan, Hubei, Guizhou and Qinghang.

Now turning to other Asian countries that are also coal consumers, namely South Korea and Japan. Coal imports from the two countries have also declined since the beginning of the year. On a month-to-date basis, South Korea's coal imports reached 6.7 million tons, while Japanese coal imports reached 13.3 million tons.

In the same period last year South Korea and Japan imported 10.9 million tons of coal and 14.3 million tons respectively. That means the performance of coal imports in January for the State of Ginseng and the State of Sakura fell by 38.5% yoy and 6.9% yoy respectively.

Although the output of the two countries' nuclear power plants has declined, the cool weather conditions have made the demand for coal sag.

In contrast to China, South Korea and Japan, month-to-date Indian coal imports have actually increased. India's coal imports in January 2020 reached 14 million tons, while in the same period last year it was only 13.3 million tons. This means that there was an increase of 700 thousand tons or grew 5.3%

yoy.

The International Energy Agency (IEA) predicts that coal demand will stabilize until 2024. This is triggered by an increase in demand that will still be seen in various Asian countries, but is followed by a decline in coal consumption, especially from Europe and America.

European steps to stop their coal consumption would be a threat to the fate of the 'black stone' in the future. This is clearly seen from the steps taken by Germany.

Akibatnya hingga Februari 2020, jumlah batu bara sebagai sumber energi untuk pembangkit listrik yang dapat diganti dengan tenaga air mencapai 2,7 juta ton terutama untuk beberapa provinsi di China seperti Sichuan, Hubei, Guizhou dan Qinghang.

Kini beralih ke negara kawasan Asia lain yang juga sebagai konsumen batu bara yaitu Korea Selatan dan Jepang. Impor batu bara kedua negara ini sejak awal tahun juga mengalami penurunan. Secara month-to- date impor batu bara Korea Selatan men- capai 6,7 juta ton, sementara impor batu bara Jepang mencapai 13,3 juta ton.

Pada periode yang sama tahun lalu Korea Selatan dan Jepang masing-masing meng- impor batu bara sebanyak 10,9 juta ton dan 14,3 juta ton. Itu artinya kinerja impor batu bara bulan Januari untuk Negeri Ginseng dan Negeri Sakura masing-masing turun 38,5%

yoy dan 6,9% yoy.

Walau output pembangkit listrik tenaga nuklir kedua negara menurun, kondisi cuaca yang sejuk membuat permintaan akan batu bara melorot.

Berbeda dengan China, Korea Selatan dan Jepang, impor batu bara India month-to-date justru mengalami kenaikan. Impor batu bara India Januari 2020 mencapai 14 juta ton, sementara pada periode yang sama tahun lalu hanya 13,3 juta ton. Artinya ada kenaikan sebanyak 700 ribu ton atau tumbuh 5,3% yoy.

Badan Energi Internasional (IEA) meramal permintaan batu bara akan stabil hingga 2024. Hal ini dipicu oleh kenaikan permintaan yang masih akan terlihat di berbagai negara kawasan Asia, tetapi diikuti dengan penurunan konsumsi batu bara terutama dari Eropa dan Amerika.

Langkah Eropa untuk hentikan konsumsi batu bara mereka tentu jadi ancaman bagi nasib si 'batu hitam' ke depannya. Hal ini terlihat jelas dari langkah yang dilakukan oleh Jerman.

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Reuters reports that Germany is currently drafting legislation to end coal consumption. The plan for each reduction of 1 megawatt in 2020-2022 will be given compensation worth US$ 183,051.

The compensation is expected to continue to decline annually at a rate of 25% after 2022, until in the end there will be no compensation after 2026. This bill is a form of the seriousness of the German government to respond to climate change which is a global problem at this time. The cabinet is scheduled to discuss the bill on Wednesday and the lower house of parliament will vote this year. CNBC INDONESIA RESEARCH TEAM (twg/twg)

Reuters melaporkan bahwa Jerman saat ini sedang merancang undang-undang untuk mengakhiri konsumsi batu bara. Rencana- nya untuk setiap penurunan 1 megawatt pada 2020-2022 akan diberikan kompensasi senilai US$ 183.051.

Kompensasi tersebut diperkirakan akan terus turun per tahun dengan laju 25%

setelah 2022, hingga pada akhirnya tak ada lagi kompensasi setelah 2026. RUU ini merupakan salah satu bentuk keseriusan pemerintah Jerman untuk merespons perubahan iklim yang jadi masalah global saat ini. Kabinet dijadwalkan mendiskusikan RUU ini pada hari Rabu waktu setempat dan majelis rendah di parlemen akan melakukan voting tahun ini. TIM RISET CNBC INDONESIA (twg/twg)

Freeport CEO ‘looking forward’ to deals once expansion projects done

Reuters

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REEPORT-McMoran Inc, the world’s largest publicly traded copper producer, would consider acquisitions, mergers or other deals once three ongoing expansion projects finish by 2022, Chief Executive Richard Adkerson said in an interview on Tuesday.

Demand for copper is projected to surge this decade because of the rising popularity of electric vehicles, which use twice as much copper as internal combustion engines. That, in turn, is expected to fuel an M&A wave across the sector.

Despite that, Phoenix, Arizona-based Freeport’s shares are worth half what they were in 2010, dragged down by uncertainty over the company’s stake in a major Indonesian mine and debt from an ill-fated oil and gas venture.

But those issues are largely behind the company, which is about to open a copper mine in the United States, is expanding Indonesia’s Grasberg mine and has launched an analytics program to boost production in Peru.

Those projects should double the company’s cash flow and boost the company’s stock price, giving the company ammunition to consider deals, Adkerson told Reuters.

“I’m looking forward to having a new experience in my career toward accessing alternatives and deciding which way we go,” said Adkerson, an accountant by training who became CEO in 2003.

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Those alternatives could include buying part or all of another company, building new mines or other deals, he said.

“We don’t have a clear directive now on what that direction could be, but we will be attractively situated and will have an opportunity to add value through investments,” said Adkerson.

According to recent news reports, Barrick Gold Corp CEO Mark Bristow has spoken favorably of Freeport’s assets and a potential combination.

Adkerson declined to comment. A Barrick spokeswoman declined to comment.

Adkerson, 73, said he has no plans to retire and is in good health.

“This is not a time that I’m thinking about walking away,” he said.

Adkerson called the outbreak of a deadly coronavirus in China a “real black swan event.” The term is a reference to the book “Black Swan,” which looks at the potentially catastrophic effects of unpredictable events.

Copper prices have dropped more than 10% this month on concerns the virus could affect the global economy. Copper prices are closely linked to global economic health because the metal is used for construction and manufacturing.

Freeport’s stock dropped more than 9% last Thursday due in part to virus concerns even as the company posted better-than-expected quarterly results.

Its shares were 2.5% higher at $11.175 in afternoon trading, along with a broad rally in global equity markets as investors took a less pessimistic view of the potential economic fallout from the coronavirus outbreak. (By Ernest Scheyder; Editing by Marguerita Choy)

Outotec looks to strike the right water balance with Pretium platform

Posted by Daniel Gleeson

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UTOTEC has launched a new real-time water monitoring tool to enable miners to simulate and evaluate proposed water-treatment investments and process changes, and keep tabs on water use across their operations.

As the company says, water is a scarce and valuable resource, and mining operations are under increasing pressure to optimise their water usage in order to improve environmental and economic performance.

Outotec Pretium Water Advisor enables real-time monitoring of the water balance across an entire site, allowing operators to create short-term forecasts for water volume and quality, it said.

The platform predicts changes in water balance and quality based on changing production and environmental conditions. This enables simulation and evaluation of proposed water- treatment investments and process changes.

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“The solution combines intelligent water measurement stations and instrumentation with Outotec’s predictive water balance computing to eliminate the need to rely on time-consuming manual water-balance and key performance indicator (KPI) calculations,” Outotec said.

Plant managers and engineers can view water KPIs as both graphical views and historical trends via a web-based interface and also access scenario management tools for performing simulations and evaluating the impacts of new water treatment investments, process changes, or the impact of expansion plans on the site’s water resources, the company said.

“Water Advisor monitoring stations provide accurate and reliable real-time data on both environmental and process waters, and are designed to perform reliably in harsh environments even under constant exposure to rain, humidity, dust, frost, and sun,” the company said. “Stations can be easily connected to the Outotec technical platform for data collection, processing, visualisation, and device management.”

Outotec Pretium Water Advisor has been commercialised with the help of funding from the European Institute of Innovation and Technology, a body of the European Union, under Horizon 2020, the EU Framework Programme for Research and Innovation.

OZ Minerals to ramp up Carrapateena this year

Vanessa Zhou

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Z Minerals is set to enter a ramp up phase at the Carrapateena copper-gold mine in South Australia after delivering first saleable concentrate late last year.

The company is targeting a shorter 12-month ramp up to 4.25 million tonnes a year run rates by the end of this year.

OZ Minerals plans to further invest in the growth of Carrapateena to enable a faster ramp up and achieve annual throughput rates to 4.7–5 million tonnes a year from 2023.

Capital expenditure at the Carrapateena mine has also increased from the feasibility study update to include around $80 million for mine development, $20 million for infrastructure, and

$45 million for acceleration capital.

OZ Minerals has also commenced production on Carrapateena’s first production level, with Tjati decline development approaching the seventh level.

“2019 was a year of major progress for OZ Minerals,” company chief executive Andrew Cole said.

“Carrapateena now enters a faster, circa 12-month, ramp up towards a 4.25 million tonnes a year throughput rate by the end of 2020, dependent upon the cave performing as expected.

“We will test and optimise the plant in the first half of 2020, leading to gradual throughput and recovery increases which will drive progressively higher output in the second half before turning cash positive in 2021.”

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OZ Minerals also plans to focus on maintaining reliable production and cost performance at the Prominent Hill copper-gold mine in South Australia.

The company produced 26,845 tonnes of copper at the mine in the December quarter, up from 23,100 in the previous quarter, meeting the copper guidance for the fifth consecutive year.

Meanwhile, gold output at Prominent Hill was also at the upper end of guidance for 2019.

It climbed to 35,102 ounces in the December quarter on 28,844 ounces in the previous period.

Progressive replacement of trucking fleet at Prominent Hill is under way and will be completed by mid-year.

Elsewhere, OZ Minerals’ Carajás hub strategy in Brazil took shape with construction commencing on the first satellite element, the Pedra Branca underground mine, which will produce ore to be processed at the central Antas plant, according to Cole.

“Over the past five years the team has created a multi-asset company with significant growth potential in existing provinces and beyond,” he said.

“We remain confident in the long-term demand for copper from traditional sources as well as from the rapidly expanding focus on carbon reduction.”

Coal India posts double-digit growth in output in January

Our Bureau | KOLKATA

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OAL India Ltd, the world’s largest miner, has registered an over 10 per cent growth in production to 54.17 million tonnes (MT) till January 27 compared with 48.94 MTs it reported in the same period last year. This is the first double-digit growth that the company has registered during the ongoing fiscal.

Production till January 27 was ahead by 5.23 MT in absolute terms on a like-to-like comparison basis, representing growth of 10.7 per cent, the first double-digit growth so far during the current fiscal, a release issued by the company said.

The Maharatna company has been averaging an output of close to 2 MT/day uring the month.

According to an official, the production spurt came largely on the back of better show at Mahanadi Coalfields and South Eastern Coalfields (SECL). “By the end of January, production is likely to be up by another 8 MT,” he said.

Mahanadi Coalfields surged ahead with a production growth of 21.5 per cent, and SECL saw 14.4 per cent growth. These are two of the largest producing subsidiaries of CIL, which together contribute close to half of CIL’s total coal output.

The Dipka opencast mine of SECL, the third largest coal producing mine of CIL, came back strongly, reaching one lakh tonne per day production. Dipka’s lower benches were flooded when a non-seasonal river broke the embankment and flooded the mine on September 29 last year.

No shortage at power plants

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