TABLE OF CONTENTS. No. Title Media Source Page

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Daily News Update Page 1

Skyrocketed by 10%, Coal Price Breaks a Record for a Decade! Meroket 10%, Harga Batu Bara Tembus Rekor Satu Dekade! Bahlil Targets Copper Smelter in Papua to Run by 2022 Bahlil Targetkan Smelter Tembaga di Papua Jalan 2022 Positive Performance Note for Gold Mining Companies in the First Quarter of 2021

Catatan Kinerja Positif Perusahaan Tambang Emas di Kuartal I 2021

Coal prices have risen and carbon tax plans, check the share recommendation of coal issuers

Harga batubara naik dan rencana pajak karbon, cek rekomendasi saham emiten batubara

RI Ready to Retire Coal Fired Power Plant, Here Are the Reasons & Stages!

RI Siap Pensiunkan PLTU Batu Bara, Ini Alasan & Tahapannya!

Putin is betting coal still has a future Australian gold down but not out in 2021

Strike at BHP's Chile copper mine continues, union opposes substitute workers

Coal India retains production and offtake momentum in May Congo allows copper and cobalt exports for miners with waivers

Ivanhoe Mines starts commercial copper production at its Kamoa-Kakula mine Kontan CNBC Indonesia CNN Indonesia Dunia Tambang Kontan CNBC Indonesia Mining.com Australian Mining Reuters Financial Express Kitco News

Mining Metal News

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INCO: Certainty Bahodopi

Smelter Plant Awaits FID

Completion

Reporter: Filemon Agung | Editor: Anna Suci Perwitasari

P

T VALE Indonesia Tbk (INCO) said that the Bahodopi Gas Power Plant (PLTG) construction is still awaiting the completion of the Final Investment Decision for the ferronickel smelter.

INCO Chief Financial Officer (CFO) Bernardus Irmanto said that currently the process of fulfilling all the requirements for the FID stage is still ongoing.

INCO, a member of the Kompas100 index, targets that the final decision can still be made at the beginning of next year. Meanwhile, the construction of PLTG for the Bahodopi Smelter, Central Sulawesi is recognized as one unit.

"The construction of this PLTG is an integral part of the smelter construction. So it will be decided in the FID process as well. So it is impossible for PLTG to be built if the decision to build a smelter has not been made," Bernardus told Kontan.co.id, Friday (28/5).

He continued, under these conditions, the decision to build a PLTG, either by partners or by using a third party, will still be reviewed first.

Bernardus also explained that there was no certainty that the PLTG construction would go through a tender or a third party.

INCO: Kepastian pembangkit

smelter Bahodopi menanti FID

rampung

Reporter: Filemon Agung | Editor: Anna Suci Perwitasari

P

T VALE Indonesia Tbk (INCO) meng-ungkapkan kepastian pembangunan Pembangkit Listrik Tenaga Gas (PLTG) Bahodopi masih menanti rampungnya Final Investment Decision smelter feronikel.

Chief Financial Officer (CFO) INCO Bernardus Irmanto menuturkan, saat ini proses pemenuhan semua persyaratan untuk tahapan FID masih berjalan.

INCO, anggota indeks Kompas100 ini, menargetkan keputusan final tetap bisa dilakukan pada awal tahun depan. Adapun, pembangunan PLTG untuk Smelter Bahodopi, Sulawesi Tengah diakui menjadi satu kesatuan.

"Pembangunan PLTG ini menjadi bagian tidak terpisahkan dari pembangunan smelter. Jadi akan diputuskan dalam proses FID juga. Jadi tidak mungkin PLTG akan dibangun kalau keputusan pembangunan smelter belum di ambil," kata Bernardus kepada Kontan.co.id, Jumat (28/5).

Dia melanjutkan, dengan kondisi tersebut maka keputusan pembangunan PLTG baik dilakukan sendiri oleh partner maupun dengan menggunakan pihak ketiga masih akan dikaji terlebih dahulu.

Bernardus pun menjelaskan, belum ada kepastian bahwa pembangunan PLTG akan melalui tender ataupun pihak ketiga.

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"It depends on the agreement between Vale and partners. What is currently going on is a Request for Proposal (RFP) to obtain data and information that will be used to complete the study," concluded Bernardus.

"Tergantung kesepakatan Vale dan partner nantinya. Yang sedang berjalan adalah Request for Proposal (RFP) untuk men-dapatkan data-data dan informasi yang akan digunakan untuk melengkapi kajian," pungkas Bernardus.

Skyrocketed by 10%, Coal Price

Breaks a Record for a Decade!

Putu Agus Pransuamitra, CNBC Indonesia

C

OAL prices have skyrocketed this week to reach a record high for almost a decade. It is feared that the supply from China will be tighter due to the plum rain which has triggered the soaring price of coal.

Launching Refinitiv data, the ICE New-castle coal reference price for the June contract shot up 10.19% this week to US$ 118.9/ton. this level is the highest since September 2011.

In addition, coal prices also posted a five-week strengthening with a total of 39%. The tightening of coal supply in China is at risk of occurring due to the rainy season which starts from April until at least July, which sometimes with extreme intensity triggers floods. This period is often known as the plum rain season or in the local language it is called Meiyu.

The extreme rainy season risks disrupting coal production and distribution.

Most of China's coal mines are located in northern provinces. During the rainy season, there are frequent power cuts in the mining area. It also has a positive correlation with the number of incidents of mining accidents in China.

Meroket 10%, Harga Batu Bara

Tembus Rekor Satu Dekade!

Putu Agus Pransuamitra, CNBC Indonesia

H

ARGA batu bara meroket di pekan ini hingga

mencapai rekor tertinggi nyaris satu dekade terakhir. Suplai dari China yang dikhawatirkan akan semakin ketat akibat plum rain menjadi pemicu melesatnya harga batu bara.

Melansir data Refinitiv, harga batu bara acuan ICE Newcastle untuk kontrak bulan Juni melesat 10,19% di pekan ini ke US$ 118,9/ ton. level tersebut merupakan yang tertinggi sejak September 2011.

Selain itu, harga batu bara juga membukukan penguatan dalam 5 pekan beruntun dengan total 39%.

Mengetatnya pasokan batu bara di China berisiko terjadi akibat musim penghujan yang dimulai sejak April lalu hingga setidaknya Juli nanti, yang terkadang dengan intensitas ekstrim hingga memicu banjir. Periode ini sering dikenal dengan sebutan plum rain season atau dalam bahasa lokal disebut Meiyu.

Musim penghujan yang ekstrim tersebut berisiko mengganggu produksi hingga distri-busi batu bara.

Sebagian besar tambang batu bara China terletak di provinsi utara. Saat musim hujan terjadi sering ada pemadaman listrik di area tambang. Hal ini juga berkorelasi positif dengan jumlah insiden kecelakaan tambang di China.

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The government cites recent flooding incidents at coal mines in Xinjiang and Shanxi as a reminder to the sector. This factor is what makes coal prices continue to rise.

This is because when the demand for the power generation sector increases but the supply is inadequate so the price of local coal flies. The fantastic increase in the price of Chinese coal also boosted the price of other coal, one of which is the ICE Newcastle.

The price of coal in recent weeks has even been steadily rising despite a spike in cases of the corona virus disease (Covid-19) in various countries, especially India, which is one of the largest consumers of coal.

Since mid-April, the increase in the number of Covid-19 cases in India has skyrocketed by more than 200,000 cases per day. Even the peak of more than 400,000 cases per day in early May. But the good news is that this week the addition of Covid-19 cases in India has dropped to below 200,000 per day. CNBC INDONESIA RESEARCH TEAM (pap/pap)

Pemerintah mengutip insiden banjir baru-baru ini di tambang batu bara di Xinjiang dan Shanxi sebagai pengingat bagi sektor tersebut. Faktor inilah yang membuat harga batu bara terus mengalami kenaikan. Pasalnya saat permintaan untuk sektor pembangkit listrik meningkat tetapi pasokan tak memadai sehingga harga batu bara lokal terbang. Kenaikan fantastis harga batu bara China juga mendongkrak harga batu bara lain salah satunya adalah ICE Newcastle.

Harga batu bara dalam beberapa pekan terakhir bahkan masih melesat naik meski terjadi lonjakan kasus penyakit virus corona (Covid-19) di berbagai negara terutama India, yang merupakan salah satu konsumen terbesar batu bara.

Sejak pertengahan April lalu, penambahan jumlah kasus Covid-19 di India meroket lebih dari 200.000 kasus per hari. Bahkan puncaknya lebih dari 400.000 kasus per hari pada awal Mei lalu. Namun kabar baiknya di pekan ini penambahan kasus Covid-19 di India sudah turun ke bawah 200.000 per hari. TIM RISET CNBC INDONESIA (pap/pap)

Bahlil Targets Copper Smelter in

Papua to Run by 2022

T

HE MINISTER of Investment/Head of BKPM Bahlil Lahadalia targets the copper smelter in Fakfak Regency, West Papua to run in 2022. The copper smelter is said to be the result of cooperation with China ENFI Engineering Corporation (ENFI).

Bahlil Targetkan Smelter

Tembaga di Papua Jalan 2022

M

ENTERI Investasi/Kepala BKPM Bahlil Lahadalia menargetkan proyek fasilitas peng-olahan dan pemurnian (smelter) tembaga di Kabupaten Fakfak, Papua Barat bisa berjalan pada 2022. Smelter tembaga tersebut disebut sebagai hasil kerja sama dengan China ENFI Engineering Corporation (ENFI).

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"Investors are already there, it is possible that this June they will be able to carry out the review steps, then we are targeting hopefully by early 2022 they will be able to run," he said at the Investment Ministry's Halal bi Halal event, Friday (28/5).

To make the project smooth, he said the Ministry of Investment had also coordinated with MIND ID, PT Freeport Indonesia, and the Ministry of Energy and Mineral Resources. The hope is that the copper smelter can become a new source of economy in the Papua region. According to him, the presence of a smelter is an old dream for the people of Papua and West Papua.

"Imagine, from junior high school to the head of BKPM, the dream of Papuans is still the same, namely that there is a smelter in Papua," he said.

Previously, the Ministry of Investment had agreed a memorandum of understanding on the Copper Smelting Project which was signed by Bahlil and ENFI President Liu Cheng online last Monday (12/4).

In his remarks at that time, Bahlil hoped that the signing of the memorandum of understanding could be followed up immediately to create mutually beneficial cooperation.

"I ask that we do not delay the imple-mentation process. Later on licensing and fiscal incentives, BKPM will assist, as long as the proposal from China ENFI is the best and benefits Freeport, China ENFI, and Indonesia," Bahlil said in an official statement.

He also stated that the government is serious about supporting the investment plan and ensuring the availability of raw material supply that will be provided by PT Freeport Indonesia of at least 800 thousand tons/year. This project is in line with...

"Investor sudah ada, kemungkinan Juni ini nanti sudah bisa melakukan langkah-langkah peninjauan, kemudian kami targetkan mudah-mudahan paling lambat 2022 awal sudah bisa jalan," ujarnya dalam acara Halal bi Halal Kementerian Investasi, Jumat (28/5).

Untuk memuluskan proyek tersebut, ia menuturkan Kementerian Investasi juga telah berkoordinasi dengan MIND ID, PT Freeport Indonesia, dan Kementerian ESDM. Harapannya, smelter tembaga tersebut bisa menjadi sumber perekono-mian baru di kawasan Papua. Menurutnya, kehadiran smelter merupakan impian lama rakyat Papua dan Papua Barat.

"Bayangkan dari saya SMP sampai saya jadi Kepala BKPM, mimpi orang Papua masih sama yaitu ada smelter di Papua," katanya.

Sebelumnya, Kementerian Investasi telah menyepakati nota kesepahaman tentang Proyek Peleburan Tembaga yang ditanda-tangani oleh Bahlil dan President ENFI Liu Cheng secara daring pada Senin (12/4) lalu. Dalam sambutannya saat itu, Bahlil berharap penandatanganan nota kese-pahaman tersebut dapat segera ditindak-lanjuti untuk menciptakan kerja sama yang saling menguntungkan.

"Saya minta kita tidak lama-lama proses implementasi. Nanti urusan perizinan dan insentif fiskal, BKPM yang akan bantu, selama proposal dari China ENFI adalah yang terbaik dan menguntungkan Freeport, China ENFI, dan Indonesia," ujar Bahlil dalam keterangan resmi.

Ia juga menyatakan keseriusan pemerintah dalam mendukung rencana investasi ter-sebut dan menjamin ketersediaan suplai bahan baku yang akan disediakan PT Freeport Indonesia sebanyak minimal 800 ribu ton/tahun. Proyek ini sejalan dengan...

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This project is in line with President Joko Widodo's direction regarding economic transformation by increasing the added value and exports of Indonesia to the world. Following up on this memorandum of understanding, a small team from the Indonesian government and Chinese ENFI will be formed. China ENFI will visit Indonesia in the near future to conduct technical discussions on the continuation of the project.

ENFI is a state-owned company based in Beijing, China and is a subsidiary of the MCC Group. The company is engaged in providing smelter technology, building smelter industries, particularly copper, nickel, aluminum and other non-ferrous metals.

The smelter has a copper cathode smelting capacity of 400 thousand tons per year, the construction of which will be divided into two phases. In this project, the company will involve local Indonesian companies as strategic partners, namely PT Freeport Indonesia and MIND ID. (ulf/sfr)

Proyek ini sejalan dengan arahan Presiden Joko Widodo mengenai transformasi ekonomi melalui peningkatan nilai tambah dan ekspor Indonesia ke dunia.

Menindaklanjuti nota kesepahaman ini, selanjutnya akan dibentuk tim kecil dari pihak pemerintah Indonesia dan China ENFI. China ENFI akan mengunjungi Indonesia dalam waktu dekat untuk melakukan pembahasan teknis atas kelanjutan proyek.

ENFI merupakan perusahaan milik negara berbasis di Beijing, China dan merupakan anak perusahaan dari MCC Group. Perusahaan bergerak di bidang penyediaan teknologi smelter, pembangunan industri smelter, khususnya tembaga, nikel, aluminium, dan logam non besi lainnya. Smelter itu memiliki kapasitas peleburan katoda tembaga sebesar 400 ribu ton per tahun, yang pembangunannya akan dibagi menjadi dua tahap. Dalam proyek ini, perusahaan akan melibatkan perusahaan lokal Indonesia sebagai mitra strategis yaitu PT Freeport Indonesia dan MIND ID.

(ulf/sfr)

Positive Performance Note for

Gold Mining Companies in the

First Quarter of 2021

Author: Edo Fernando, Editor: Ocky PR.

A

NUMBER of companies engaged in mining, especially in gold mining, have reported how their performance has been achieved in the first quarter of 2021. Based on the performance report, the majority affixed improvements in performance, in terms of revenue and net income.

Catatan Kinerja Positif

Perusahaan Tambang Emas di

Kuartal I 2021

Penulis: Edo Fernando, Editor: Ocky PR.

S

EJUMLAH perusahaan yang bergerak di

bidang pertambangan, khususnya di pertam-bangan emas telah melaporkan bagaimana kinerja yang telah dicapai pada kuartal pertama di tahun 2021 ini. Berdasarkan dari laporan kinerja tersebut, mayoritas mem-bubuhkan perbaikan kinerja, dalam hal pendapatan dan juga laba bersih.

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PT Aneka Tambang reported that their net income had increased by 77.04 percent or as much as Rp9.21 trillion from the previous period. Last year, the company's net income was only Rp5.20 trillion. Meanwhile, the report for net profit was recorded at Rp 630.37 billion. This is a significant increase when compared to 2020, which experienced a loss of Rp 281.84 billion.

Of course, the majority of Aneka Tambang's outstanding performance is supported by gold commodities. In detail, the gold commodity contributed Rp. 6.59 trillion to the company's revenue or 72 percent of the company's total revenue as a whole. This income, has increased year-on-year as much as 65 percent.

The same thing happened to PT United Tractors Tbk. This positive performance improvement came from the production and sales of gold commodities from the Martabe Gold Mine in South Tapanuli. Then there is PT Agincourt Resources which also reports sales performance of up to 95,300 ounces of gold in the first quarter of 2021. This number is known to have increased by 1 percent from the previous year's period of 94.800 onz. For net income, Agincourt Resources reported an increase of 15 percent at Rp 2.2 trillion. The gold commodity also encourages performance improvements for PT Bumi Resources Minerals. In the first quarter of this year, Bumi Resources Minerals was able to record a revenue increase of 37.31 percent at USD 1.35 million compared to the previous year which amounted to USD991 thousand. Net profit has increased sharply by 80 percent, to USD1, 61 million.

PT Aneka Tambang melaporkan bahwa pen-dapatan bersih mereka mengalami kenaikan sebesar 77,04 persen atau sebanyak Rp9,21 triliun dari periode sebelumnya. Tahun lalu, pendapatan bersih yang berhasil diraih perusahaan hanya sebesar Rp5,20 triliun. Sedangkan laporan untuk laba bersihnya, tercatat sebanyak Rp630,37 miliar. Ini adalah peningkatan yang signifikan jika dibandingkan di tahun 2020 lalu, yang mengalami kerugian mencapai Rp281,84 miliar.

Tentunya, kinerja Aneka Tambang yang moncer ini mayoritas mendapatkan topangan dari komoditas emas. Secara rinci, komoditas emas menyumbang pendapatan perusahaan sebesar Rp6,59 triliun atau 72 persen dari total pendapatan perusahaan secara keseluruhan. Pendapatan ini, meng-alami kenaikan secara year-on-year sebanyak 65 persen.

Hal yang sama juga dialami oleh PT United Tractors Tbk. Perbaikan kinerja yang positif itu berasal dari produksi dan penjualan komoditas emas yang berasal dari Tambang Emas Martabe yang ada di Tapanuli Selatan. Kemudian ada PT Agincourt Resources yang juga melaporkan kinerja penjualan hingga mencapai 95.300 onz emas di kuartal pertama tahun 2021 ini. Jumlah ini diketahui mengalami kenaikan sebesar 1 persen dari periode tahun sebelumnya yang sebesar 94,800 onz. Untuk pendapatan bersihnya, Agincourt Resources melaporkan kenaikan sebesar 15 persen di angka Rp2,2 triliun. Komoditas emas juga mendorong perbaikan kinerja untuk PT Bumi Resources Minerals. Pada kuartal pertama tahun ini, Bumi Resources Minerals mampu mencatatkan kenaikan pendapatan sebesar 37,31 persen di angka USD1,35 juta dibandingkan di tahun sebelumnya yang sebesar USD991 ribu. Laba bersihnya mengalami kenaikan tajam sampai 80 persen, menjadi USD1,61 juta.

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Coal prices have risen and

carbon tax plans, check the

share recommendation of coal

issuers

Reporter: Hikma Dirgantara | Editor: Khomarul Hidayat

T

HE PRICE of coal is still burning. Referring to Bloomberg data, the ICE Newcastle coal price for the September 2021 contract was at the level of US$ 107 per ton on Friday's trade (28/5). This level is the highest in recent times.

Samuel Sekuritas analyst Dessy Lapagu projects that the average coal price at the end of the first semester of 2021 will be in the range of US$ 92-US$ 95 per ton. According to him, if these prices can survive, or even continue to strengthen, it will certainly boost the performance of coal issuers in the second quarter of 2021. Meanwhile, Phillip Sekuritas Indonesia analyst Michael Filbery estimates that the reference price for coal this year will be at the level of US$ 75.0 per ton.

According to him, one of the sentiments came from China's ban on coal imports from Australia. This policy reduces the availability of medium calorie coal. This in turn can be a positive catalyst for the Indonesian coal market.

Not only that, he also saw that the economic growth of the Asian region this year, which was supported by the massive vaccination program, is expected to boost demand for energy sources, one of which is coal.

Harga batubara naik dan

rencana pajak karbon, cek

rekomendasi saham emiten

batubara

Reporter: Hikma Dirgantara | Editor: Khomarul Hidayat

H

ARGA batubara masih terus membara. Merujuk data Bloomberg, harga batubara ICE Newcastle untuk kontrak September 2021 telah berada di level US$ 107 per ton pada perdagangan Jumat (28/5). Level tersebut merupakan yang tertinggi dalam beberapa waktu terakhir.

Analis Samuel Sekuritas Dessy Lapagu memproyeksikan, rata-rata harga batubara pada akhir semester I-2021 akan berada di kisaran US$ 92-US$ 95 per ton. Menurut-nya, jika harga tersebut bisa bertahan, atau malah masih menguat, tentu akan men-dorong kinerja emiten batubara pada kuartal II-2021.

Sementara itu, analis Phillip Sekuritas Indonesia Michael Filbery memperkirakan, harga acuan batubara pada tahun ini akan berada di level US$ 75,0 per ton.

Menurutnya, salah satu sentimen datang dari larangan China atas impor batubara asal Australia. Kebijakan tersebut mem-buat ketersediaan batubara berkalori menengah berkurang. Hal ini pada akhir-nya bisa menjadi katalis positif bagi pasar batubara Indonesia.

Tak hanya itu, ia juga melihat, pertum-buhan ekonomi Kawasan Asia tahun ini yang didukung dengan masifnya program vaksinasi diperkirakan bakal mendongkrak permintaan sumber energi, salah satunya batubara.

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Michael said, this year China is also predicted to experience tight coal supply, which can be reflected in a report by the China Electricity Council (CEC), that China's electricity consumption this year is estimated to increase by 7%-8% compared to last year.

Furthermore, another positive sentiment for the coal sector is the decision of the Ministry of Energy and Mineral Resources (ESDM) to raise the coal production target this year to 625 million tons, from 550 million tons previously.

"The difference in the increase of 75 million tons is used for the export market. The government's policy is correct in line with the economic recovery in the Indonesian coal export market, which will increase demand for coal," explained Michael to Kontan.co.id, Saturday (29/5). Likewise, MNC Sekuritas analyst Catherina Vincentia said, the recent high coal prices cannot be separated from the increasing demand in line with the resumption of economic activity. Even though the coal sector benefits from these conditions, he said that this sector is actually shadowed by two sentiments that have the potential to become a ballast for domestic coal suppliers.

First, the sentiment regarding the carbon tax which in the medium term could put the brakes on the industry's need for coal fuel. Second, the government plans not to add more coal-fired power plants in order to reduce carbon emissions.

"Demand for coal from western countries has decreased because they have switched to renewable energy. So, these two sentiments will have the potential to reduce domestic demand and become a ballast for domestic coal suppliers," said Catherina.

Michael menyebut, tahun ini China juga diprediksi masih akan mengalami ketatnya pasokan batubara yang bisa tercermin dari laporan China Electricity Council (CEC), bahwa konsumsi listrik China pada tahun ini diperkirakan naik 7%-8% dibanding tahun lalu.

Lebih lanjut, sentimen positif lainnya bagi sektor batubara adalah keputusan Kemen-terian Energi dan Sumber Daya Mineral (ESDM) yang mengerek naik target produksi batubara pada tahun ini menjadi 625 juta ton, dari sebelumnya 550 juta ton. “Selisih kenaikan 75 juta ton digunakan untuk pasar ekspor. Kebijakan pemerintah tersebut sudah tepat seiring dengan pemulihan ekonomi di pasar eskpor batu-bara Indonesia, yang akan meningkatkan permintaan batubara,” terang Michael kepada Kontan.co.id, Sabtu (29/5).

Senada, analis MNC Sekuritas Catherina Vincentia mengatakan, tingginya harga batubara belakangan ini tidak terlepas dari meningkatnya permintaan seiring dengan dibukanya kembalinya aktivitas ekonomi. Walau sektor batubara diuntungkan dengan kondisi tersebut, ia menyebut sektor ini sebenarnya dibayang dua sentimen yang berpotensi menjadi pem-berat bagi supplier domestik batubara. Pertama, sentimen soal pajak karbon yang dalam jangka menengah bisa mengerem industri akan kebutuhan bahan bakar batubara. Kedua, pemerintah yang beren-cana tidak akan menambah lagi pembangkit listrik dengan bahan bakar batubara dalam rangka mengurangi emisi karbon.

“Permintaan batubara dari negara barat kan sudah menurun karena mereka sudah beralih ke energi terbarukan. Jadi, dua sentimen tersebut akan berpotensi mengu-rangi permintaan dari dalam negeri dan menjadi pemberat bagi supplier batubara domestik,” kata Catherina.

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However, Catherina specifically assessed that until 2020, the energy mix from Indonesia was still dominated by fossil fuels and coal. Therefore, even though the government wants to go to green energy, the process will not change drastically and will still be implemented in stages.

Dessy also has the same opinion. The transformation plan is still a long-term plan. According to him, the government will also implement it in stages so that it is not too burdensome for producers. Moreover, the majority of power plants in Indonesia currently still use coal.

Furthermore, Dessy also estimates that the implementation of the carbon tax is likely to be accelerated. According to her, this policy will have a positive or negative impact on coal producers.

"This carbon tax will be quite beneficial for issuers that have entered the downstream business or entered into businesses other than coal, because it will secure their long-term business. However, it will be quite difficult for producers who still rely on coal sales without any added value (down-stream)," added Dessy.

Not much different, Michael did not deny that the application of a carbon tax has the potential to reduce the income of coal issuers whose production targets PLTU raw materials. However, with the various diversification patterns that have been prepared, it should open up pretty good prospects for coal issuers. One of them is the gasification project.

Meanwhile, Phillip Sekuritas made PT Bukit Asam Tbk (PTBA) as the top pick for coal issuers. Michael assessed that a number of diversifications carried out by PTBA, such as coal gasification which will absorb 6 million tons of coal and a power plant development that can absorb 5.4 million tons of coal per year, have attracted this state-owned company.

Tapi, Catherina secara khusus menilai hingga 2020, energy mix dari Indonesia masih di-dominasi oleh bahan bakar fosil dan batubara. Oleh karena itu, walaupun pemerintah ingin menuju ke green energy, prosesnya tidak akan berubah secara drastis dan masih akan diimplementasikan secara bertahap.

Dessy juga punya pendapat yang sama. Rencana transformasi itu masih merupakan rencana jangka panjang. Menurutnya, peme-rintah juga akan melakukan implementasi secara bertahap sehingga tidak terlalu mem-beratkan produsen. Apalagi, mayoritas pem-bangkit listrik di Indonesia saat ini juga masih menggunakan batubara.

Lebih lanjut, Dessy juga memperkirakan implementasi pajak karbon kemungkinan besar justru akan dipercepat. Menurutnya, kebijakan tersebut akan memberi dampak positif maupun negatif ke produsen batubara. “Pajak karbon ini akan cukup menguntungkan bagi emiten yang sudah masuk ke bisnis hilirisasi atau masuk ke bisnis lain selain batubara, karena akan mengamankan bisnis jangka panjangnya. Namun, akan cukup berat bagi produsen yang masih mengandalkan penjualan batubara tanpa ada value added (hilirisasi),” imbuh Dessy.

Tak jauh berbeda, Michael tak menampik penerapan pajak karbon berpotensi akan mengurangi pendapatan emiten-emiten batu-bara yang produksinya menyasar bahan baku PLTU. Namun, dengan adanya berbagai pola diversifikasi yang sudah disiapkan, seharus-nya akan membuka prospek yang cukup bagus untuk emiten batubara. Salah satunya adalah dengan proyek gasifikasi.

Adapun, Phillip Sekuritas menjadikan PT Bukit Asam Tbk (PTBA) sebagai top pick emiten batubara. Michael menilai, sejumlah diversifikasi yang dilakukan PTBA seperti gasifikasi batubara yang akan menyerap 6 juta ton batubara serta power plant development yang dapat menyerap 5,4 juta ton batubara per tahun, menjadi daya tarik bagi emiten pelat merah ini.

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Tweedledum and tweedledee, Samuel Sekuritas also chose PTBA as the top pick. According to Dessy, PTBA's downstream program that has been running can be a buffer amid the issue of carbon taxes and programs to reduce coal consumption for power plants. The reason is, with down-streaming, the coal produced by PTBA can be absorbed in other sectors.

Meanwhile, Catherina made PT Adaro Energy Tbk (ADRO) an attractive coal issuer. This is because ADRO has a large export share and has entered into other renewable energies. Not to mention, ADRO's business model which is also diversified into various business segments such as Adaro power, Adaro water, Adro mining, Adro land, Adro logistics is an attraction for ADRO shares.

Following are recommendations for shares of coal issuers:

1. PT Adaro Energy Tbk (ADRO)

ADRO not only benefits because it has a large export share, but diversification of its business lines can also be a positive catalyst. Outside the coal business line, ADRO plans to make biomass fuel from wood pellets and palm oil waste which results in lower emissions. In addition, ADRO is also more focused on renewable energy by expanding its solar panels and hydro-plants.

MNC Sekuritas analyst Catherina Vincentia recommended buying ADRO shares with a target price of IDR 1,450 per share.

2. PT Bukit Asam Tbk (PTBA)

PTBA this year revised its coal production target to 30 million tons from the original 29.5 million. The increase in PTBA's production target is in line with the ESDM Ministry's decision to raise the national production target from 550 million tons to 625 million tons.

Setali tiga uang, Samuel Sekuritas pun memilih PTBA sebagai top pick. Menurut Dessy, program hilirisasi PTBA yang sudah berjalan bisa menjadi buffer di tengah isu pajak karbon dan program pengurangan konsumsi batubara untuk power plant. Pasalnya, dengan hilirisasi, batubara produksi PTBA bisa diserap di sektor lain. Sedangkan, Catherina menjadikan PT Adaro Energy Tbk (ADRO) sebagai salah satu emiten batubara yang menarik. Pasalnya, ADRO punya pangsa ekspor yang besar serta sudah terjun ke energi terbarukan lainnya. Belum lagi, model bisnis ADRO yang juga terdiversifikasi ke berbagai segmen bisnis seperti Adaro power, Adaro water, Adro mining, Adro land, Adro logistics menjadi daya tarik bagi saham ADRO.

Berikut rekomendasi untuk saham-saham emiten batubara:

1. PT Adaro Energy Tbk (ADRO)

ADRO tak hanya diuntungkan karena punya pangsa ekspor yang besar, namun diversifikasi lini bisnisnya juga bisa men-jadi katalis positif. Di luar lini bisnis batubara, ADRO berencana untuk mem-buat bahan bakar biomass dari wood pellets dan limbah kelapa sawit yang menghasilkan emisi lebih rendah. Selain itu, ADRO juga lebih fokus pada energi terbarukan dengan melakukan ekspansi pada panel surya dan hydro-plant.

Analis MNC Sekuritas Catherina Vincentia merekomendasikan beli saham ADRO dengan target harga Rp 1.450 per saham. 2. PT Bukit Asam Tbk (PTBA)

PTBA pada tahun ini merevisi target produksi batubara menjadi 30 juta ton dari semula sebanyak 29,5 juta. Meningkatnya target produksi PTBA sejalan dengan keputusan Kementerian ESDM yang meng-kerek target produksi nasional dari 550 juta ton menjadi 625 juta ton.

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PTBA, which has been running down-stream, is considered to be more profitable from the discourse on carbon taxes and a program to reduce coal consumption for power plants.

Samuel Sekuritas analyst Dessy Lapagu recommends buying PTBA shares with a target price of Rp 2,900 per share

3. PT Indo Tambangraya Megah Tbk (ITMG)

ITMG is the coal issuer that has benefited the most from the increase in international coal prices. This is because ITMG has a high exposure to the cross-sea coal (export) market, which is 85% in the first quarter of 2021. On the one hand, ITMG production costs are expected to remain stable this year in line with a lower strip ratio (ratio) and higher production volumes.

Maybank Kim Eng Sekuritas analyst Isnaputra Iskandar recommends buying ITMG shares with a target price of Rp 15,000 per share

4. PT United Tractors Tbk (UNTR) The recent increase in coal prices is expected to support the increase in sales of UNTR's Komatsu heavy equipment. Meanwhile, UNTR has sold 4.62 million tons of coal during the first four months of 2021, or an increase of 1.7% YoY. This year, UNTR set coal sales of 9 million to 9.5 million tons. The total sales included 2.3 million tons of coking coal.

BRI Danareksa Sekuritas analyst Stefanus Darmagiri recommended buying UNTR shares with a target price of Rp 30,000 per share.

PTBA yang sudah menjalankan hilirisasi dinilai akan lebih diuntungkan dengan adanya wacana pajak karbon dan program pengurangan konsumsi batubara untuk power plant.

Analis Samuel Sekuritas Dessy Lapagu merekomendasikan beli saham PTBA dengan target harga Rp 2.900 per saham. 3. PT Indo Tambangraya Megah Tbk (ITMG)

ITMG menjadi emiten batubara yang paling diuntungkan dengan kenaikan harga batu-bara internasional. Pasalnya, ITMG me-miliki eksposur yang tinggi ke pasar batu-bara lintas laut (ekspor), yakni sebesar 85% pada kuartal I-2021. Di satu sisi, biaya produksi ITMG diperkirakan akan tetap stabil pada tahun ini seiring penurunan nisbah (rasio) kupas dan volume produksi yang lebih tinggi.

Analis Maybank Kim Eng Sekuritas Isnaputra Iskandar merekomendasikan beli saham ITMG dengan target harga Rp 15.000 per saham.

4. PT United Tractors Tbk (UNTR) Kenaikan harga batubara belakangan ini diperkirakan akan turut menopang kenaikan penjualan alat berat Komatsu milik UNTR. Adapun, UNTR telah menjual 4,62 juta ton batubara sepanjang empat bulan pertama 2021, atau naik 1,7% secara YoY. Pada tahun ini, UNTR mematok penjualan batubara sebanyak 9 juta hingga 9,5 juta ton. Dari total penjualan itu termasuk 2,3 juta ton untuk batubara jenis coking coal.

Analis BRI Danareksa Sekuritas Stefanus Darmagiri merekomendasikan beli saham UNTR dengan target harga Rp 30.000 per saham.

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RI Ready to Retire Coal Fired

Power Plant, Here Are the

Reasons & Stages!

Rahajeng Kusumo Hastuti, CNBC Indonesia

I

NDONESIA targets to use power plants that use clean energy by 2060 and there will be no more construction of new Steam Power Plants (PLTU) in the period 2021-2030.

This target is also in accordance with President Joko Widodo (Jokowi)'s orders that prohibit the proposed construction of a new PLTU and is reflected in the Electricity Supply Business Plan (RUPTL) 2021-2030.

However, PLTU development plans that have already entered the financial closing stage or the construction process can still be continued. After that, the construction of power plants will focus on new and renewable energy (EBT).

Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan said that fossil energy is currently the world's common enemy.

Responding to this, according to him, the Indonesian government also plans to retire the existing coal-fired power plant and replace it with new renewable energy-based power plants.

"Nowadays, fossil energy is a common enemy [of the world]. Gradually, the government also wants to retire coal power plants," he said in a virtual 'Indonesia Investment Forum 2021' event recently.

RI Siap Pensiunkan PLTU Batu

Bara, Ini Alasan & Tahapannya!

Rahajeng Kusumo Hastuti, CNBC Indonesia

I

NDONESIA menargetkan menggunakan pembangkit listrik yang menggunakan energi bersih pada 2060 dan tidak ada lagi pembangunan Pembangkit Listrik Tenaga Uap (PLTU) baru pada periode 2021-2030. Target ini pun sesuai dengan titah Presiden Joko Widodo (Jokowi) yang mengharam-kan usulan pembangunan PLTU baru dan tercermin dalam Rencana Usaha Penyediaan Tenaga Listrik (RUPTL) tahun 2021-2030.

Akan tetapi, untuk rencana pembangunan PLTU yang sudah terlanjur memasuki tahap kepastian pendanaan (financial closing) atau proses konstruksi masih tetap bisa dilanjutkan. Setelah itu, pembangunan pembangkit listrik akan difokuskan untuk energi baru terbarukan (EBT).

Menteri Koordinator Bidang Kemaritiman dan Investasi Luhut Binsar Pandjaitan mengatakan energi fosil saat ini menjadi musuh bersama dunia.

Merespons hal ini, pemerintah Indonesia menurutnya juga berencana akan mem-pensiunkan PLTU batu bara yang ada saat ini dan menggantinya dengan pembangkit listrik berbasis energi baru terbarukan. "Sekarang ini fossil energy jadi musuh bersama [dunia]. Bertahap, pemerintah juga mau pensiunkan power plant batu bara," ujarnya dalam acara 'Indonesia Investment Forum 2021' secara virtual belum lama ini.

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He said the number of countries leaving the PLTU project was also marked by the number of world financial institutions or banks that no longer wanted to fund fossil energy-based development.

"Why did that happen? Because global warming is now making the earth even warmer. So if it just goes up to 1.5 degrees, it will have a bad impact," he explained. Furthermore, Luhut said, with the retirement of the PLTU, the government would open up opportunities for investors to invest in the renewable energy sector. Investments in this sector are also predicted to be one of the government's focuses in restoring the national economy. On a different occasion, the Director General of Electricity (Gatrik) of the Ministry of Energy and Mineral Resources (ESDM), Rida Mulyana, said President Jokowi's direction regarding the PLTU's retirement was issued at the Limited Meeting on 11 May 2021.

To follow these directions, in the 2021-2030 RUPTL currently being drafted, the proposal for the construction of a new PLTU will be eliminated.

"Even if there are projects in RUPTL, it means continuing those that already exist, with construction status and at least financial close," said Rida recently.

According to him, the portion of EBT generators in RUPTL 2021-2030 will also increase compared to RUPTL 2019-2028. In the 2019-2028 RUPTL that is currently in effect, the share of EBT generators is 30% and fossil generators 70%.

This portion, according to him, will be converted into 48% of EBT and 52% of fossil plants in the 2021-2030 RUPTL which is being drafted.

Dia mengatakan banyaknya negara me-ninggalkan proyek PLTU ini juga ditandai dengan banyaknya lembaga keuangan dunia atau perbankan yang tidak lagi mau mendanai pembangunan berbasis energi fosil.

"Kenapa itu terjadi? Karena pemanasan global sekarang membuat bumi makin panas. Jadi kalau naik saja sampai 1,5 derajat, itu akan punya dampak yang tidak bagus," jelasnya.

Lebih lanjut Luhut mengatakan, dengan pensiunnya PLTU, maka pemerintah bakal membuka kesempatan bagi investor untuk berinvestasi di bidang EBT. Investasi di sektor ini pun digadang-gadang menjadi salah satu fokus pemerintah dalam me-mulihkan perekonomian nasional.

Dalam kesempatan berbeda, Direktur Jenderal Ketenagalistrikan (Gatrik) Kementerian Energi dan Sumber Daya Mineral (ESDM), Rida Mulyana, mengata-kan arahan Presiden Jokowi terkait pensiunnya PLTU tersebut terlontar dalam Rapat Terbatas 11 Mei 2021 lalu.

Untuk mengikuti arahan tersebut, maka di dalam RUPTL tahun 2021-2030 yang tengah disusun saat ini, usulan pem-bangunan PLTU baru akan ditiadakan. "Kalaupun ada proyek-proyek di RUPTL, itu berarti meneruskan yang sudah terlanjur ada, dan berstatus konstruksi dan minimal financial close," papar Rida belum lama ini.

Menurutnya, porsi pembangkit EBT pada RUPTL 2021-2030 juga akan meningkat dibandingkan dengan RUPTL 2019-2028. Di dalam RUPTL 2019-2028 yang saat ini berlaku, porsi pembangkit EBT sebesar 30% dan pembangkit fosil 70%.

Porsi ini menurutnya akan diubah menjadi 48% pembangkit EBT dan 52% pem-bangkit fosil dalam RUPTL 2021-2030 yang tengah disusun.

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"Now compile a greener RUPTL with 48% EBT and 52% fossil generator portions. Tomorrow the EBT portion will be bigger with pride and humility this RUPTL is greener, pro-environment," he explained. Until 2025, the government has a target of the EBT mix of 23%. In the electricity sector, according to him, several efforts have been made to achieve this target. First, prioritizing the cheapest EBT generator so that it does not really affect the Cost of Supply (BPP). Second, encouraging the construction of a Solar Power Plant (PLTS).

"Technology is more mature, developing, it will be more massive by utilizing the water surface area," he said.

Third, PLTU Cofiring is encouraged by maintaining environmental sustainability. Fourth, the Geothermal Power Plant (PLTP) and Hydroelectric Power Plant (PLTA) are evaluated so that the target to start operating (Commercial Operation Date/COD) is more realistic.

"The dedieselization program with generating EBT generators scattered throughout the archipelago, 5,200 units of 2 Giga Watt are small, but this has an impact on BPP, we convert it to EBT generators," he said.

Rida said that the 2021-2030 RUPTL was still in progress and would soon be completed. Based on the draft RUPTL 2021-2030 he explained, until 2027 there will still be an additional PLTU capacity of 13,565 MW. In 2021, the additional generating capacity from the PLTU will be 4,688 mega watts (MW).

"The point is that the RUPTL is still in process, is still in discussion and many have been agreed upon," said Rida.

"Sekarang susun RUPTL yang lebih hijau dengan porsi pembangkit 48% EBT dan 52% fosil. Besok porsi EBT jadi lebih besar dengan bangga dan rendah hati RUPTL ini lebih hijau, pro lingkungan," jelasnya. Sampai dengan 2025 mendatang peme-rintah memiliki target bauran EBT sebesar 23%. Di sektor kelistrikan menurutnya ada beberapa upaya yang dilakukan untuk mengejar target tersebut.

Pertama, mendahulukan pembangkit EBT yang paling murah sehingga tidak terlalu berpengaruh pada Biaya Pokok Penyediaan (BPP). Kedua, mendorong pembangunan Pembangkit Listrik Tenaga Surya (PLTS). "Teknologi makin mature, berkembang maka akan manfaatkan lebih masif dengan memanfaatkan luas permukaan air," tuturnya.

Ketiga, PLTU Cofiring didorong dengan tetap menjaga kelestarian lingkungan. Keempat, Pembangkit Listrik Tenaga Panas Bumi (PLTP) dan Pembangkit Listrik Tenaga Air (PLTA) dievaluasi agar target mulai beroperasi (Commercial Operation Date/COD) lebih realistis.

"Program dedieselisasi dengan pembangkit EBT pembangkit yang tersebar di pelosok nusantara, 5.200 unit ada 2 Giga Watt kecil-kecil memang tapi ini dampak ke BPP, kita konversi ke pembangkit EBT," ungkapnya.

Rida mengatakan RUPTL 2021-2030 masih berproses dan akan segera dirampungkan. Berdasarkan draf RUPTL 2021-2030 yang dia paparkan, sampai dengan tahun 2027 masih akan ada penambahan kapasitas PLTU sebesar 13.565 MW. Pada tahun 2021 penambahan kapasitas pembangkit dari PLTU sebesar 4.688 mega watt (MW). "Intinya RUPTL ini masih berproses, masih diskusi dan beberapa banyak sudah di-sepakati," kata Rida.

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However, starting in 2022, the additional capacity of the PLTU that will operate is expected to decrease. In 2022 it is estimated that electricity from the PLTU will increase by 2,438 MW. Then, in 2023 it will again decrease to 1,714 MW.

Then, in 2024 the additional PLTU capacity will only be 550 MW. Furthermore, in 2025 the additional capacity of the PLTU will increase to 1,891 MW, then in the following year 2026 it will again decrease to 1,660 MW, and finally in 2027 the additional generating capacity of the PLTU is 624 MW.

PLN's response to the PLTU's retire-ment

On the other hand, in this regard, the management of PT PLN (Persero) said that the termination of PLTU operations was a step towards becoming carbon neutral by 2060.

Deputy President Director of PLN Darmawan Prasodjo said that PLN will begin to replace PLTU and Gas Engine Power Plant (PLTMG) with 1.1 Giga Watt (GW) of new renewable energy (EBT) based power plants in 2025.

"We are building a time line, namely 2025-2030, it is forbidden for the new PLTU, and it is even hoped that in 2025 there will be a replacement (replacement) of PLTU and PLTMG with EBT power plants," Darmawan said during a Hearing Meeting (RDP) with Commission VII DPR RI, Thursday (27/05/2021).

Furthermore, PLN targets to retire Phase I Subcritical PLTU with a capacity of up to 1 GW by 2030.

"In 2030 the first phase of subcritical retirement is 1 GW," he added. Then, retire the Phase II Subcritical PLTU with a capacity of 9 GW in 2035. And in 2040 it is targeted to retire the Supercritical PLTU by 10 GW.

Namun, mulai 2022 tambahan kapasitas PLTU yang akan beroperasi diperkirakan akan semakin menurun. Pada 2022 diper-kirakan listrik dari PLTU bertambah sebesar 2.438 MW. Kemudian, tahun 2023 kembali turun menjadi 1.714 MW.

Lalu, pada 2024 penambahan kapasitas PLTU hanya sebesar 550 MW. Selanjutnya, pada 2025 penambahan kapasitas dari PLTU melonjak menjadi 1.891 MW, lalu di tahun berikutnya 2026 kembali turun menjadi sebesar 1.660 MW, dan terakhir pada 2027 penambahan kapasitas pembangkit dari PLTU sebesar 624 MW.

Tanggapan PLN soal Pensiunnya PLTU Di sisi lain, terkait dengan hal ini, manajemen PT PLN (Persero) menyebut penghentian operasional PLTU menjadi langkah dalam menuju netral karbon (carbon neutral) pada tahun 2060.

Wakil Direktur Utama PLN Darmawan Prasodjo menyampaikan PLN akan mulai menggantikan PLTU dan Pembangkit Listrik Tenaga Mesin Gas (PLTMG) dengan pem-bangkit listrik berbasis energi baru ter-barukan (EBT) sebesar 1,1 Giga Watt (GW) pada 2025 mendatang.

"Kami bangun time line, yakni 2025-2030 sudah haramkan PLTU baru, bahkan diharap-kan di 2025 ada replacement (penggantian) PLTU dan PLTMG dengan pembangkit listrik EBT," kata Darmawan saat Rapat Dengar Pendapat (RDP) dengan Komisi VII DPR RI, Kamis (27/05/2021).

Selanjutnya, PLN menargetkan akan mem-pensiunkan PLTU Subcritical tahap I dengan kapasitas mencapai 1 GW pada 2030.

"Di 2030 retirement (pensiun) subcritical tahap pertama 1 GW," imbuhnya.

Lalu, mempensiunkan PLTU Subcritical tahap II dengan kapasitas 9 GW pada 2035. Dan pada 2040 ditargetkan bisa mempensiunkan PLTU Supercritical sebesar 10 GW.

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Meanwhile, the Phase I Ultra Supercritical PLTU is targeted to be retired in 2045 at 24 GW and the last 5 GW Ultra Supercritical PLTU can be retired in 2055.

"The retirement of PLTU Ultra Supercritical can be carried out in stages from 2045-2056, and in the end it can reach carbon neutral by 2060," he said.

He said, to replace a coal-based PLTU that can support the base load, one way is to build a battery-based solar power plant (PLTS).

Darmawan explained, the cost needed to build PLTS based on lithium ion or ferronickel batteries continues to fall, currently the cost is around 4 cents per kilo Watt hour (kWh) plus a battery of around 13 cents per kWh. So that the cost of electricity from battery-based PLTS is currently around 17-18 cents per kWh. However, according to him, there is already a new PLTS innovation at a lower cost, namely with redox-based battery techno-logy from vanadium or cerium. The cost of generating electricity can be 2.5-3 cents per kWh, then plus the cost of a redox flow-based battery of 3.5 cents per kWh, for a total cost of only 6-7 cents per kWh.

"So, in 2025-2026, it is hoped that there will be an incoming EBT base load power plant. But PLN needs support, it cannot be done by PLN alone," he said.

He explained that the national energy production per day is 300 Tera Watt hours (TWh). Then, in the next few years it is estimated that there will be an additional 120 TWh from the 35 GW PLTU project. As for the projected energy production in 2060 to reach 1,800 TWh, so there is a need for additional production of around 1,380 TWh. It will be endeavored to provide additional electricity production require-ments with renewable energy-based power plants. (tas/tas)

Sementara PLTU Ultra Supercritical tahap I di-targetkan bisa dipensiunkan pada 2045 sebesar 24 GW dan PLTU Ultra Supercritical terakhir sebesar 5 GW bisa dipensiunkan pada 2055. "Retirement PLTU Ultra Supercritical secara bertahap bisa dilaksanakan dari 2045-2056, dan pada akhirnya bisa mencapai carbon neutral pada 2060," ujarnya.

Dia mengatakan, untuk menggantikan PLTU berbasis batu bara yang bisa menopang beban dasar (base load), salah satu caranya yaitu membangun Pembangkit Listrik Tenaga Surya (PLTS) berbasis baterai.

Darmawan menjelaskan, biaya yang dibutuh-kan untuk membangun PLTS berbasis baterai lithium ion atau feronikel harganya terus turun, saat ini biayanya berkisar pada 4 sen dolar per kilo Watt hour (kWh) ditambah baterai sekitar 13 sen dolar per kWh. Sehingga biaya listrik dari PLTS berbasis baterai saat ini sekitar 17-18 sen dolar per kWh.

Namun, menurutnya sudah ada inovasi PLTS baru dengan biaya lebih murah, yakni dengan teknologi baterai berbasis redox dari vanadium atau cerium. Biaya pembangkitan listrik bisa 2,5-3 sen dolar per kWh, lalu ditambah biaya baterai berbasis aliran redox 3,5 sen dolar per kWh, sehingga total biaya hanya 6-7 sen dolar per kWh.

"Sehingga, 2025-2026 diharapkan ada pem-bangkit listrik berbasis EBT base load masuk. Tapi PLN perlu dukungan, nggak bisa di-lakukan PLN sendiri," ujarnya.

Dia menjelaskan, produksi energi nasional per hari ini 300 Tera Watt hours (TWh). Lalu, pada beberapa tahun mendatang diperkirakan ada tambahan 120 TWh dari proyek PLTU 35 GW.

Adapun proyeksi produksi energi pada 2060 mencapai 1.800 TWh, sehingga ada kebutuhan tambahan produksi sekitar 1.380 TWh. Kebutuhan tambahan produksi listrik itu akan diusahakan diisi dengan pembangkit listrik berbasis EBT. (tas/tas)

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Putin is betting coal still has a future

Bloomberg News

E

UROPEAN governments are drawing up plans to phase out coal, U.S. coal-fired power plants are being shuttered as prices of clean energy plummet, and new Asian projects are being scrapped as lenders back away from the dirtiest fossil fuel.

And Russia? President Vladimir Putin’s government is spending more than $10 billion on railroad upgrades that will help boost exports of the commodity. Authorities will use prisoners to help speed the work, reviving a reviled Soviet-era tradition.

The project to modernize and expand railroads that run to Russia’s Far Eastern ports is part of a broader push to make the nation among the last standing in fossil fuel exports as other countries switch to greener alternatives. The government is betting that coal consumption will continue to rise in big Asian markets like China even as it dries up elsewhere.

“It’s realistic to expect Asian demand for imported coal to increase if conditions are right,” said Evgeniy Bragin, Deputy Chief Executive Officer at UMMC Holding, which owns a coal company in western Siberia’s Kuzbass region. “We need to keep developing and expanding the rail infrastructure so that we have the opportunity to export coal.’’

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The latest 720 billion ruble ($9.8 billion) project to expand Russia’s two longest railroads — the Tsarist-era Trans-Siberian and Soviet Baikal-Amur Mainline that link western Russia with the Pacific Ocean— will aim to boost cargo capacity for coal and other goods to 182 million tons a year by 2024. Capacity already more than doubled to 144 million tons under a 520 billion ruble modernization plan that began in 2013. Putin urged faster progress on the next leg at a meeting with coal miners in March.

“Russia is trying to monetize its coal reserves fast enough that coal will contribute to GDP rather than being stuck in the ground,” said Madina Khrustaleva, an analyst who specializes in the region for TS Lombard in London.

Putin is betting that his country’s land border with China and good relations with President Xi Jinping make it a natural candidate to dominate exports to the nation that consumes more than half of the world’s coal. His case is helped by the fact that Australia, currently the number one coal exporter, is facing trade restrictions from China amid a diplomatic dispute over the origins of the coronavirus.

But the plan is fraught with risk, both for Russia’s economy and the planet. The UN’s Intergovernmental Panel on Climate Change recommends immediate phasing out of coal to avoid catastrophic global warming and the effects of climate change are expected to cost Russia billions in coming decades.

Earlier this month the International Energy Agency went one step further and said no new fossil-fuel infrastructure should be built if the world wants to keep global warming well below 1.5 degrees Celsius. With all but one of the top 10 economies committed to reaching net-zero emissions within decades, the IEA’s Net-Zero by 2050 Roadmap calls for phasing out all coal power plants without carbon capture as soon as 2040.

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It’s also not a given that Asian coal demand will keep growing. Coal consumption in China is poised to reach a record this year and the country continues to build coal-fired power plants, but it also plans to start reducing consumption starting in 2026. At the same time, it’s increasing output from domestic mines, leaving less room for foreign supplies. Even in the IEA’s least climate-friendly scenarios, global coal demand is expected to stay flat in 2040 compared to 2019.

A coal strategy approved by the Russian government last year envisages a 10% increase in coal output from pre-pandemic levels by 2035 under the most conservative scenario, based on rising demand not just from China, but also India, Japan, Korea, Vietnam and possibly Indonesia.

The relatively low sulphur content of Russian coal might give it an edge in Korea, which has tightened pollution laws in recent years, but other Asian countries have struggled to secure funding for proposed plants and Indonesia said this week it won’t approve any new coal-fired power plants. At a Group of Seven nations meeting, environment ministers agreed to phase out support for building coal power plants without carbon capture before the end of this year. For Putin there is more at stake than just money. At a video conference in March, he reminded government officials that the coal industry drives the local economies of several Russian regions that are home to about 11 million people. Unrest among coal miners helped put pressure on the government before the Soviet Union collapsed in 1991, though the sector is now a much smaller and less influential part of the economy.

“We need to carefully assess all possible scenarios in order to guarantee that our coal mining regions are developed even if global demand decreases,” Putin said.

The country’s biggest coal producers are privately run, meaning they aren’t facing the kind of financing problems currently being encountered by listed companies elsewhere as banks pull back funding for dirty energy. Suek Plc, owned by billionaire Andrey Melnichenko, and Kuzbassrazrezugol OJSC, controlled by Iskander Makhmudov, are both planning to increase output.

Russia also plans to boost coal production for steel making. A-Property, owned by Russian businessman Albert Avdolyan, bought the Elga coal mine in Russia’s Far Eastern region of Yakutia last year and plans to invest 130 billion rubles to expand output to 45 million tons of coal from the current 5 million tons by 2023. A third stage of Russia’s railroad expansion project will focus on boosting infrastructure for shipping coal out of Yakutia, a Russian Railways official said last month.

“In 2021, many Asia Pacific states have seen their economies recover from the pandemic,” said Oleg Korzhov, the CEO of Mechel PJSC, one of Russia’s biggest coal companies. “We expect that demand for metallurgical coal in Asia Pacific will remain high in the next five years.”

(By Yuliya Fedorinova and Aine Quinn, with assistance from Dan Murtaugh, Akshat Rathi and Ilya Arkhipov)

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Australian gold down but not out in 2021

Henry Ballard

A

USTRALIAN gold production fell by nine tonnes for a total of 74 for the March quarter, down 11 per cent on the previous period, according to gold consultants Surbiton Associates. The output was worth $5.5 billion at the quarter’s average gold price and Surbiton director Sandra Close said the drop was nothing to worry about.

“While gold output for the quarter was down considerably, this is no cause for concern,” Close said.

“Production was about three tonnes or four per cent less than the corresponding March 2020 quarter and such variations are not uncommon.”

Surbiton said while the period was usually victim to cyclonic weather in northern Australia, this had less of an impact than other years.

Close said China’s gold production was more noteworthy, as the world leader produced 74.44 tonnes of gold for the March quarter.

“Chinese production figures need to be treated with caution,” Close said.

“Australia may even be on the way to overtaking China as the world’s largest gold producer, but it is far too early to draw any real conclusions.”

In Australia, Kirkland Gold’s Fosterville mine in Victoria fell from third to fifth on the country’s list of largest gold producers, with a decline of 55,000 ounces on the last quarter. Retaining top spot was Newcrest Mining’s Cadia East mine with 179,546 ounces of gold for the quarter.

Close said while some larger mines fell, other up-and-coming operations will look to challenge them over the next few years.

“Fosterville, Tropicana and Boddington together accounted for a reduction in output of 116,000 ounces, or 3.6 tonnes of gold, which was more than one third of the total reduction for the March 2021 quarter,” Close said.

“Novo and Ora Banda will increase output as they ramp up to full capacity over the next few months.

“Also, Capricorn Metals’ Karlawinda is due to start up mid-year and Wiluna Mines’ expansion project is underway.”

Close had no worries for the future of Australian gold, as prices and expenditure in exploration have uplifted the sector significantly.

“Thanks to higher gold prices in the last couple of years, the gold sector has continued to raise considerable capital and there is a tremendous amount of exploration going on, with excellent results being reported,” Close said.

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Australia’s largest gold producers for the March 2021 quarter were: Cadia East 179,546 Newcrest Mining Ltd

Boddington 152,000 Newmont Inc.

Tanami 117,000 Newmont Inc.

Super Pit 111,278 Northern Star Resources Ltd Fosterville 108,679 Kirkland Lake Gold Inc.

Strike at BHP's Chile copper mine continues, union opposes substitute

workers

A

STRIKE by workers at BHP's Escondida and Spence copper mines in Chile entered its second day on Friday, as the company uses replacement workers to ensure continued production, a union leader told Reuters.

The union's secretary, Robert Robles, told Reuters that members would continue to hold demonstrations in Santiago. He said the company is placing substitute workers in the mines located in northern Chile, a move that the union opposes.

"Complaints were filed with the Labor Directorate for violation of the right to strike and anti-union practices," he told Reuters. BHP has not responded to requests about the status of its operations after the start of the strike. The strike began on Thursday after efforts to ink a labor contract deal with the company's management fell through, fueling uncertainty over the global supply of the red metal.

The strike at Escondida, the world's largest copper mine, and at the smaller Spence comes as copper prices have spiked amid soaring demand as the world's largest economies revive following more than a year of coronavirus-induced stagnation.

(Reporting by Fabian Cmbero, writing by Hugh Bronstein Editing by Marguerita Choy)

Coal India retains production and offtake momentum in May

D

ESPITE COVID-19 restrictions in several states, Coal India maintained its output and despatch momentum in May, the second month of the current fiscal, an official said.

The mining major is likely to report dry fuel production of around 41.7 million tonnes and offtake of nearly 55 million tonnes this month as against production of 41.43 million tonnes and sales of 40 million tonnes in the corresponding period last year, the official said.

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In April, coal production stood at 41.9 million tonnes compared to 40.4 million tonnes in the year-ago period, recording a growth of 3.7 per cent. Offtake stood at 54.1 million tonnes during the reporting month compared to 39.1 million tonnes in the corresponding period last year, registering a growth of 38.4 per cent.

Coal India had recently said that the pandemic had impacted production on account of a large number of the companys employees across subsidiaries and contractors testing positive for coronavirus. The Kolkata-based company commenced FY22 with a pithead stock of nearly 99 million tonnes.

However, electricity demand had risen in recent months and the contribution of thermal power had improved, boosting demand for coal. Thermal power meets 78 per cent of the country’s power demand. However, there is apprehension that lockdowns may impact subsequent electricity demand from industry.

Congo allows copper and cobalt exports for miners with waivers

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EMOCRATIC Republic of Congo has authorised exports of copper and cobalt concentrate for mining companies that hold waivers, customs documents showed, after the country appeared to issue a blanket ban on them.

Bernard Bosele Pilipili, Haut-Katanga provincial director for customs and excise, on Wednesday banned the export of copper and cobalt concentrates, but on Thursday said companies that have waivers from the mines minister would be allowed to export concentrate.

Congo - the world's top producer of cobalt and Africa's biggest copper producer - has banned exports of copper and cobalt concentrate since 2013 to encourage domestic processing, but it has issued regular waivers to the ban.

"There is still the issue of an electricity deficit, which prevents mining companies from building processing facilities," Haut-Katanga Governor Jacques Kyabula Katwe said on Friday. "It's better to let them [mining companies] work, but that they show us their plans for increasing smelting capacity." Ivanhoe Mines , whose Kamoa-Kakula mine in Congo's Lualaba province produced its first copper concentrate on Wednesday, said it has filed an application and is in talks with the mines minister to obtain a waiver.

Ivanhoe Mines President Marna Cloete said the company will utilise local smelter capacity as much as possible, and is assessing the construction of a smelting complex at Kamoa-Kakula to produce blister and anode copper.

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Ivanhoe Mines starts commercial copper production at its Kamoa-Kakula mine Published by Simon Matthis

Ivanhoe Mines announces the start of copper concentrate production at the Phase 1, 3.8 million-tonne-per-annum (Mtpa) Kamoa-Kakula Mine, on May 25th, several months ahead of schedule.

His Excellency Félix Tshisekedi, President of the Democratic Republic of the Congo, commented on the significance of the start of production at Kamoa-Kakula: “The start of production of copper concentrate at the Kamoa-Kakula Mine indicates that the DRC is open for business and investment. We congratulate Ivanhoe Mines for having reached this milestone on this world-class discovery.”

First ore was introduced into the concentrator plant on May 20th to perform initial hot commissioning tests on the ball mills and other processing equipment. The initial mill feed grade reached approximately 4% copper shortly after start-up. As of May 25th, 5% to 6% copper ore is being conveyed directly from Kakula’s underground mining operations to the run-of-mine stockpile and the concentrator. Based on extensive testwork, the concentrator is expected to produce a very high-grade, clean concentrate grading approximately 57% copper, with extremely low arsenic levels.

“This is a historic moment for Ivanhoe Mines and the Democratic Republic of Congo,” said Mr. Friedland. “Discovering and delivering a copper province of this scale, grade and outstanding ESG credentials, ahead of schedule and on budget, is a unicorn in the copper mining business. This accomplishment reflects the outstanding cooperation of thousands of individuals, and all of our joint-venture partners at Kamoa-Kakula.

“Although this exploration journey started well over two decades ago, it also is noteworthy that the Kakula deposit itself was discovered a little over five years ago, which is remarkable progress by the mining industry’s glacial standards from first drill hole to a new major mining operation.

“The initiation of production puts us on the path to establish Kamoa-Kakula as the second largest, and perhaps eventually the largest, copper mining complex in the world. What really excites our geologists is the profound potential to find additional Kamoa-Kakula-like copper discoveries on our massive Western Foreland exploration licences right next door, in an identical geologic setting.”

Co-Chairman Miles Sun also commented: “Today marks a monumental milestone not only for Ivanhoe Mines, but also for Kamoa-Kakula’s host country – the Democratic Republic of Congo, our young, dedicated Congolese employees, and local communities. We all are extremely proud to be part of this remarkable achievement, which is a true reflection of Ivanhoe’s 24 years of tenacity and commitment to the country and industry.

“The inception of Phase 1 is the birth of a copper complex that will benefit generations to come, and we very much look forward to the upcoming phases of expansion and exploration opportunities. Huge congratulations to the entire Ivanhoe Mines team and a roaring applause to all the hard-working suppliers and contractors for collectively completing this mammoth undertaking!”

Mr. Jinghe Chen, an Ivanhoe Director and Chairman of Zijin Mining, added: “As a joint-venture partner and a shareholder of Ivanhoe Mines, Zijin Mining is tremendously proud to showcase the fruition of this exceptionally successful partnership with Ivanhoe in bringing Phase 1 of