TABLE OF CONTENTS. No. Title Media Source Page

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Daily News Update Page 1

incen-tives to smooth out coal downstream projects. In addition to the 0% royalty which is stated in the Job Creation Law and its derivative regulations, the government is also preparing a special coal price for downstreaming and a subsidy scheme for Dimethyl Ether (DME) products that will be used to substitute LPG.

Coal to DME gasification will be supported by a project that is being worked on by PT Bukit Asam Tbk (PTBA), PT Pertamina (Persero) and Air Products. The Special Staff of the Minister of ESDM for the Acceleration of Mineral and Coal Gover-nance, Irwandy Arief, stated that the government was discussing a special price for coal used in the downstream project. The special price discussion will be completed soon. "Especially for the PTBA-Pertamina-Air Product collaboration, as far as I know, the coal price is almost settled," said Irwandy to Kontan.co.id , Sunday (28/2).

Unfortunately, Irwandy has not disclosed the details of the special coal price scheme that the government will provide for the gasification project. What is clear, the special price is claimed to consider the margins and project costs so that it can increase the economic feasibility of coal gasification.

"Do not know the final (scheme and the amount of the special price)," said Irwandy.

Pemerintah siapkan subsidi

DME dan harga khusus untuk

hilirisasi batubara

Reporter: Ridwan Nanda Mulyana | Editor: Noverius Laoli

PEMERINTAH bakal menggelontorkan

insentif untuk memuluskan proyek hiliri-sasi batubara. Selain royalti 0% yang ditegaskan dalam Undang-Undang Cipta Kerja dan aturan turunannya, pemerintah juga menyiapkan harga khusus batubara untuk hilirisasi dan skema subsidi bagi produk Dimethyl Ether (DME) yang akan dipakai untuk substitusi LPG.

Gasifikasi batubara (coal to DME) itu akan ditopang oleh proyek yang sedang digarap PT Bukit Asam Tbk (PTBA), PT Pertamina (Persero) dan Air Product. Staf Khusus Menteri ESDM Bidang Percepatan Tata Kelola Minerba, Irwandy Arief, menyata-kan bahwa pemerintah sedang membahas harga khusus untuk batubara yang diguna-kan dalam hilirisasi di proyek tersebut. Pembahasan harga khusus tersebut akan segera rampung. "Khusus kerjasama PTBA-Pertamina-Air Product, setahu saya harga batubara sudah hampir beres," ungkap Irwandy kepada Kontan.co.id, Minggu (28/2).

Sayangnya, Irwandy belum membuka detail skema harga khusus batubara yang akan diberikan pemerintah untuk proyek gasifikasi. Yang jelas, harga khusus ter-sebut diklaim mempertimbangkan margin dan biaya proyek sehingga bisa mening-katkan kelayakan ekonomi gasifikasi batu-bara.

"Belum tahu finalnya (skema dan besaran harga khusus)," ungkap Irwandy.

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Daily News Update Page 4 Executive Director of the Indonesian Coal

Mining Association (APBI) Hendra Sinadia welcomed the policy. According to him, incentives in the form of a special price scheme for downstreaming are needed, in order to provide long-term certainty on the cost of raw materials for downstream coal. "So the special price must be able to cover mining costs but also remain attractive and provide certainty for processing coal into DME," Hendra told Kontan.co.id, Monday (1/3).

Apart from special prices, subsidies for coal to DME development are also deemed necessary. The reason is, the use of DME can provide benefits for the government in the form of reduced subsidies compared to subsidies for LPG.

"Regarding the estimated amount of aid, we are still reviewing it internally," said Hendra.

What should be noted, he continued, is that the subsidy for DME is different from the subsidy for LPG, which is mostly still supplied through imports from abroad. Meanwhile, the DME will be produced domestically. "So that the funds can be enjoyed by domestic parties," said Hendra. Contacted separately, PTBA Corporate Secretary Apollonius Andwie said that incen-tives and subsidies will play a significant role in accelerating the coal downstream program. According to him, this is important in order to strengthen energy security. The calculations regarding the amount of the subsidy are still under discussion. "For the calculation, it is still being followed up jointly by PTBA, the cooperation partners and also the government," said Andwie. The ESDM Ministry's Director of Coal Development and Business, Sujatmiko, previously said that the government was still discussing providing subsidies for DME.

Direktur Eksekutif Asosiasi Pertambangan Batubara Indonesia (APBI) Hendra Sinadia menyambut kebijakan tersebut. Menurutnya, insentif berupa skema harga khusus untuk hilirisasi diperlukan, guna memberi kepas-tian jangka panjang terhadap biaya bahan baku untuk hilirisasi batubara.

"Jadi harga khusus tersebut harus bisa me-nutup biaya penambangan tetapi juga tetap atraktif dan memberikan kepastian untuk pemrosesan batubara menjadi DME," kata Hendra kepada Kontan.co.id, Senin (1/3). Selain harga khusus, pemberian subsidi untuk pengembangan coal to DME juga dinilai perlu. Pasalnya, pemanfaatan DME bisa memberi keuntungan bagi pemerintah berupa penurunan subsidi dibandingkan dengan subsidi untuk LPG.

"Perihal berapa estimasi besaran bantuan-nya, sementara masih sedang kami kaji secara internal," ujar Hendra.

Yang perlu dicatat, sambungnya, subsidi untuk DME berbeda dengan subsidi untuk LPG yang sebagian besar masih dipasok melalui impor dari luar negeri. Sedangkan DME akan diproduksi di dalam negeri. "Sehingga dananya dinikmati oleh pihak-pihak di dalam negeri," ungkap Hendra. Dihubungi terpisah, Sekretaris Perusahaan PTBA Apollonius Andwie mengatakan bahwa insentif maupun subsidi bakal berperan signifikan dalam mengakselerasi program hilirisasi batubara. Menurutnya, hal ini penting guna memperkuat ketahanan energi. Hitung-hitungan terkait besaran subsidi ter-sebut masih dalam pembahasan. "Untuk hitungan masih ditindaklanjuti bersama-sama oleh PTBA, para mitra kerjabersama-sama dan juga pemerintah," sebut Andwie.

Direktur Pembinaan dan Pengusahaan Batubara Kementerian ESDM, Sujatmiko, sebelumnya mengatakan bahwa pemerintah masih membahas pemberian subsidi untuk DME.

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Daily News Update Page 5 He said the government was also reviewing

the assignment scheme when the DME subsidy was provided to substitute LPG. "For subsidies, the government is considering and reviewing the assignment. If for example everything will benefit the country in total, then there will be an assignment from the government. With this assignment, subsidies will be given to DME produced from coal," said Sujatmiko in an online event held last week.

Even though the government is still issuing subsidies, at least the supply of DME is supplied from domestic industries. That way, the subsidy on 3 kg LPG can be reduced and there is a savings in reserve reserves by reducing LPG imports.

"When DME replaced LPG, subsidies were still there, but we did not import LPG and there was no additional subsidy for melon gas," said Sujatmiko.

Septian Hario Seto, Deputy for Investment and Mining Coordination at the Coordinating Ministry for Maritime Affairs and Investment, had previously conveyed this subsidy. At the end of last year, Septian said that there must be a subsidy given to DME products that will substitute LPG. Moreover, LPG prices are currently at their lowest level. So that subsidies are needed so that DME as a substitute product can be economical. "What is a note from the price simulation results is that at the current LPG price we have to provide subsidies for DME products. Because the current LPG price is probably one of the lowest price levels throughout time. The question is of course this will not be sustainable forever," explained Septian. in the Indonesia Mining Outlook, December 2020.

Quoting Kontan.co.id news, previously the President Director of PTBA Arviyan Arifin had also expressed the need for this DME subsidy.

Kata dia, pemerintah pun sedang mengkaji skema penugasan ketika subsidi DME ter-sebut diberikan untuk mensubstitusi LPG. "Untuk subsidi pemerintah sedang memper-timbangkan dan mengkaji penugasan. Kalau misalkan semua nanti secara total ekonomi menguntungkan negara, maka akan ada penugsan pemerintah. Dengan penugasan ini maka subsidi akan diberikan kepada DME yang dihasilkan dari batubara," kata Sujatmiko dalam acara daring yang digelar pekan lalu. Meski pemerintah masih menggelontarkan subsidi, namun setidaknya pasokan DME dipasok dari industri di dalam negeri. Dengan begitu, subsidi pada LPG 3 kg bisa ditekan dan ada penghematan cadangan devisi dengan mengurangi impor LPG.

"Ketika DME mengganti LPG, kalau toh subsidi masih ada, tapi kita tidak mengimpor LPG dan tidak ada subsidi tambahan untuk gas melon," ujar Sujatmiko.

Pemberian subsidi ini sebelumnya juga sudah disampaikan oleh Deputi Bidang Koordinasi Investasi dan Pertambangan Kemenko Maritim dan Investasi Septian Hario Seto. Pada akhir tahun lalu, Septian menyampaikan bahwa harus ada subsidi yang diberikan kepada produk DME yang akan mensubstitusi LPG.

Apalagi, harga LPG saat ini sedang dalam level terendah. Sehingga subsidi pun dibutuhkan agar DME sebagai produk pengganti bisa menjadi ekonomis. "Yang menjadi catatan dari hasil simulasi harga, untuk di harga LPG saat ini memang kita harus memberikan subsidi untuk produk DME. Karena harga LPG sekarang mungkin salah satu level harga terendah sepajang masa. Yang jadi pertanyaan tentu ini tidak selamanya akan sustainable," terang Septian dalam Indonesia Mining Outlook, Desember 2020 lalu.

Mengutip pemberitaan Kontan.co.id, sebe-lumnya Direktur Utama PTBA Arviyan Arifin juga sudah mengungkapkan perlunya subsidi DME ini.

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Daily News Update Page 6 To make DME projects and products

competitive, Arviyan assessed that there needs to be a regulation that allows the transfer of state subsidies from LPG to DME. "Both of them may require subsidies from the state (LPG and DME). So we need a legal umbrella to allow the transfer of subsidies from LPG to DME. For the government, this is the problem of variable subsidies and subsidies. The DME will be fixed," explained Arviyan in the RDP with Commission VII of the DPR RI, last December 2020.

Furthermore, he said the DME project was important as a substitute for LPG, so that it could suppress imports. This is because Indonesia's LPG imports reach around 7 million tons every year. Meanwhile, the PTBA-Pertamina DME factory with Air Product has the capacity to produce 1.4 million tons of DME per year, which is targeted to be able to operate commercially in Quarter II-2024.

Production from the project is estimated to be able to reduce LPG imports by 1 million tons. That way, Arviyan calculated that this gasification project could save the trade balance of around Rp.5.5 trillion per year.

Untuk membuat proyek dan produk DME menjadi kompetitif, Arviyan menilai perlu ada regulasi yang memungkinkan adanya pengalihan subsidi negara dari LPG ke DME. "Dua-duanya mungkin memerlukan subsidi dari negara (LPG dan DME). Maka perlu payung hukum untuk bisa membolehkan pengalihan subsidi dari LPG ke DME. Kalau buat pemerintah ini kan masalah variable subsidi sama fix subsidi saja sebenarnya. Kalau LPG bisa naik turun, kalau DME akan fix," terang Arviyan dalam RDP bersama Komisi VII DPR RI, Desember 2020 lalu. Lebih lanjut, dia menyebut proyek DME ini penting sebagai substitusi LPG, sehingga bisa menekan impor. Pasalnya, impor LPG Indonesia mencapai sekitar 7 juta ton setiap tahun. Adapun, pabrik DME PTBA-Pertamina bersama Air Product ini memiliki kapasitas untuk menghasilkan 1,4 juta ton DME per tahun, yang ditargetkan bisa ber-operasi komersial pda Triwulan II-2024. Produksi dari proyek itu ditaksir mampu mengurangi impor LPG sebesar 1 juta ton. Dengan begitu, Arviyan menghitung bahwa proyek gasifikasi ini bisa menghemat neraca perdagangan sekitar Rp 5,5 triliun per tahun.

HPE Mining Products March 2021:

Most of the Commodity Prices of

Natural Mining Products

Increase

UNTIL the end of February 2021, the

prices of several mining product commodities showed a positive trend that continued amid the Covid-19 pandemic.

HPE Produk Pertambangan Maret 2021:

Sebagian Besar Harga

Komoditas Produk

Pertambangan Alami Kenaikan

HINGGA akhir Februari 2021, harga

bebe-rapa komoditas produk pertambangan menunjukkan tren yang positif yang terus berlanjut di tengah pandemi Covid-19.

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Daily News Update Page 7 This is indicated by indications of a

significant increase in the prices of several mining product commodities due to increased demand on world markets. This condition affects the export benchmark price (HPE) of mining products subject to Export Duty (BK) for the period March 2021. This provision is stipulated in the Regulation of the Minister of Trade Number 09 of 2021, February 25, 2021. “HPE for mining products for the period March 2021 has fluctuated. For example, leached copper concentrate, manganese concentrate, lead concentrate, ilmenite concentrate, rutile concentrate, and bauxite have increased compared to the previous month. Among other things, iron sand concentrate pellets have not changed," said Director General of Foreign Trade Didi Sumedi.

A number of mining products subject to BK are copper concentrate, iron concentrate, laterite iron concentrate, iron sand concentrate, iron sand concentrate pellet, manganese concentrate, lead concentrate, zinc concentrate, ilmenite concentrate, rutile concentrate, and washed bauxite. For information, the calculation of the HPE base price for iron concentrate, laterite iron concentrate, iron sand concentrate, manganese concentrate, ilmenite concen-trate, and rutile concentrate is sourced from Asian Metal and Iron Ore Fine Australian. Meanwhile, copper concentrate, iron sand concentrate pellets, lead concentrate, zinc concentrate, and bauxite are sourced from the London Metal Exchange (LME).

Compared to the previous period, mining products that experienced an average price increase in March 2021 were copper concentrate (Cu ≥ 15%) with an average price of USD 3,115.13/WE or an increase of 0.28%; manganese concentrate (Mn ≥ 49%)...

Hal ini ditunjukkan dengan indikasi kenaikan harga beberapa komoditas produk pertam-bangan yang cukup signifikan yang disebab-kan meningkatnya permintaan di pasar dunia. Kondisi ini memengaruhi harga penetapan Harga Patokan Ekspor (HPE) produk pertam-bangan yang dikenakan Bea Keluar (BK) untuk periode Maret 2021. Ketentuan ini ditetapkan dalam Peraturan Menteri Perdagangan Nomor 09 Tahun 2021, tanggal 25 Februari 2021. “HPE produk pertambangan periode Maret 2021 mengalami fluktuasi. Komoditas konsentrat tembaga, konsentrat mangan, konsentrat timbal, konsentrat ilmenite, konsetrat rutil, dan bauksit yang telah dilakukan pencucian, misalnya, mengalami kenaikan dibandingkan periode bulan lalu. Hal tersebut antara lain untuk pellet konsen-trat pasir besi tidak mengalami perubahan,” kata Direktur Jenderal Perdagangan Luar Negeri Didi Sumedi.

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

Sebagai informasi, perhitungan harga dasar HPE untuk komoditas konsentrat besi, konsentrat besi laterit, konsentrat pasir besi, konsentrat mangan, konsentrat ilmenit, dan konsentrat rutil bersumber dari Asian Metal dan Iron Ore Fine Australian. Sedangkan konsentrat tembaga, pellet konsentrat pasir besi, konsentrat timbal, konsentrat seng, dan bauksit bersumber dari London Metal Exchange (LME).

Dibandingkan periode sebelumnya, produk pertambangan yang mengalami kenaikan harga rata-rata pada Maret 2021 adalah konsentrat tembaga (Cu ≥ 15%) dengan harga rata-rata sebesar USD 3.115,13/WE atau naik 0,28%; konsentrat mangan (Mn ≥ 49%)...

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Daily News Update Page 8 manganese concentrate (Mn ≥ 49%) with

an average price of USD 208.26/WE or an increase of 0.12%; lead concentrate (Pb ≥ 56%) with an average price of USD 845.37/WE or an increase of 3.32%; ilmenite concentrate (TiO2≥ 45%) with an average price of USD 366.84/WE or an increase of 8.21%; rutile concentrate (TiO2≥ 90%) with an average price of USD 1,049.01/WE or an increase of 13.22%; and washed bauxite (Al2O3 ≥ 42%) with an average price of USD 27.40/WE or an increase of 1.17%.

Meanwhile, products that experienced a price decline compared to the previous HPE were iron concentrates (hem atite, magnetite) (Fe ≥ 62% and ≤ 1% TiO2) with an average price of USD 144.22/WE or a decrease of 2.58%; laterite iron concen-trates (gutite, hematite, magnetite) with levels (Fe ≥ 50% and (Al2O3 + SiO2) ≥ 10%) with an average price of USD 73.70/WE or a decrease of 2.58%; zinc concentrate (Zn ≥ 51%) with an average price of USD 728.74/WE or down 2.95%; and iron sand concentrate (lamella magnetite-ilmenite) (Fe ≥ 56%) with an average price of USD 86.11/WE or a decrease of 2.58%.

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

According to Didi, the HPE for the March 2021 period was determined after paying attention to various written inputs and coordination from various related agencies. Regulation of the Minister of Trade Number 09 of 2021 concerning Stipulation of Standard Export Prices for Mining Products Subject to Export Duty itself can be downloaded via http://jdih.kemendag. go.id/peraturan/detail/2089/2.

konsentrat mangan (Mn ≥ 49%) dengan harga rata-rata USD 208,26/WE atau naik 0,12%; konsentrat timbal (Pb ≥ 56%) dengan harga rata-rata USD 845,37/WE atau naik 3,32%; konsentrat ilmenit (TiO2≥ 45%) dengan harga rata-rata USD 366,84/WE atau naik sebesar 8,21%; konsentrat rutil (TiO2≥ 90%) dengan harga rata-rata USD 1.049,01/WE atau naik sebesar 13,22%; dan bauksit yang telah dilakukan pencucian (washed bauxite) (Al2O3≥ 42%) dengan harga rata-rata USD 27,40/WE atau naik 1,17%. Sedangkan produk yang mengalami penurunan harga dibandingkan HPE periode sebelumnya adalah konsentrat besi (hematit, magnetit) (Fe ≥ 62% dan ≤ 1% TiO2) dengan harga rata-rata USD 144,22/WE atau turun 2,58%; konsentrat besi laterit (gutit, hematit, magnetit) dengan kadar (Fe ≥ 50% dan (Al2O3+SiO2) ≥ 10%) dengan harga rata-rata USD 73,70/WE atau turun 2,58%; konsentrat seng (Zn ≥ 51%) dengan harga rata-rata USD 728,74/WE atau turun 2,95%; dan konsentrat pasir besi (lamela magnetit-ilmenit) (Fe ≥ 56%) dengan harga rata-rata USD 86,11/WE atau turun 2,58%.

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

Menurut Didi, HPE periode Maret 2021 ini ditetapkan setelah memperhatikan ber-bagai masukan tertulis dan koordinasi dari berbagai instansi terkait.

Peraturan Menteri Perdagangan Nomor 09 Tahun 2021 tentang Penetapan Harga Patokan Ekspor Atas Produk Pertam-bangan Yang Dikenakan Bea Keluar sendiri dapat diunduh melalui http://jdih.kemen-dag. go.id/peraturan/detail/2089/2.

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The performance of Vale

Indonesia (INCO) this year is

determined by the price and

volume of nickel production

Reporter: Dimas Andi | Editor: Tendi Mahadi

PT VALE Indonesia Tbk (INCO) said that

its sales value in 2021 will be determined by price movements and nickel production volume. This company will make the most of the opportunity to increase commodity prices.

For information, INCO posted sales of US$ 764.7 million in 2020, down 2% (yoy) compared to sales in the previous year of US$ 782 million. On the other hand, INCO's net profit shot up 44.3% (yoy) from US$ 57.4 million in 2019 to US$ 82.8 million in 2020.

Chief Financial Officer of Vale Indonesia Bernardus Irmanto said that INCO has plans to rebuild the furnace or furnace 4 this year. This project will take 5 months from May to November 2021. Thus, INCO's production volume this year will be reduced compared to last year.

In Kontan's notes, INCO management projects the volume of nickel in matte production this year to be below 70,000 tons. Last year, INCO's nickel in matte production was 72,237 tons, while the sales volume was 72,846 tons.

The production volume will certainly affect the sales value obtained by INCO. However, the company's performance can still grow better if global nickel prices are on a positive trend.

Kinerja Vale Indonesia (INCO)

tahun ini ditentukan harga dan

volume produksi nikel

Reporter: Dimas Andi | Editor: Tendi Mahadi

PT VALE Indonesia Tbk (INCO) menyebut

bahwa nilai penjualannya di tahun 2021 akan ditentukan oleh pergerakan harga dan volume produksi nikel. Perusahaan ini akan semaksimal mungkin memanfaatkan peluang kenaikan harga komoditas tersebut. Sebagai informasi, INCO membukukan penjualan sebesar US$ 764,7 juta pada tahun 2020 atau turun 2% (yoy) dibandingkan penjualan di tahun sebelumnya sebesar US$ 782 juta. Di sisi lain, laba bersih INCO melesat 44,3% (yoy) dari US$ 57,4 juta di tahun 2019 menjadi US$ 82,8 juta di tahun 2020.

Chief Financial Officer Vale Indonesia

Bernardus Irmanto menyampaikan, INCO memiliki rencana melakukan pembangunan ulang (rebuild) tungku atau furnace 4 pada tahun ini. Proyek ini akan memakan waktu selama 5 bulan dari bulan Mei sampai November 2021. Dengan demikian, volume produksi INCO di tahun ini akan berkurang dibandingkan tahun lalu.

Dalam catatan Kontan, Manajemen INCO memproyeksikan volume produki nikel dalam matte di tahun ini di bawah 70.000 ton. Adapun realisasi produksi nikel dalam matte INCO di tahun lalu sebanyak 72.237 ton, sedangkan volume penjualannya sebanyak 72.846 ton.

Volume produksi tersebut tentu akan mem-pengaruhi nilai penjualan yang diperoleh INCO. Namun, kinerja perusahaan ini tetap bisa tumbuh lebih baik jika harga nikel global berada dalam tren yang positif.

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Daily News Update Page 10 "If nickel prices remain at a high level, with

lower production, the sales figures will be the same or higher," he said, Friday (26/2). INCO has actually benefited from the increase in global nickel prices as indicated by the skyrocketing net profit of this company last year.

Bernardus assessed that the upward trend in nickel prices still has the potential to continue in the future. This is supported by the increasing adoption of electric vehicles, so that the need for nickel increases. To optimize the momentum of the nickel price increase, INCO management continues to strive to maintain costs so that the margin per tonne of product can increase when nickel prices are high. On the other hand, INCO must also maintain business continuity and ensure that all of its assets can operate safely. "So, several repair plans are still being executed so that operational activities will be more reliable in the future," he said.

“Kalau harga nikel tetap dalam level yang tinggi, bisa saja dengan produksi yang lebih rendah angka penjualannya akan sama atau lebih tinggi,” ungkap dia, Jumat (26/2). INCO sebenarnya sudah merasakan keun-tungan dari kenaikan harga nikel global yang ditunjukkan oleh meroketnya laba bersih perusahaan ini di tahun lalu.

Bernardus menilai, tren kenaikan harga nikel masih berpotensi berlanjut di masa depan. Hal ini didukung oleh semakin meningkatnya adopsi kendaraan listrik, sehingga kebutuhan akan nikel bertambah. Untuk mengoptimalkan momentum kenaikan harga nikel, Manajemen INCO terus ber-usaha menjaga biaya agar marjin per ton produk bisa meningkat saat harga nikel sedang tinggi.

Di sisi lain, INCO juga harus menjaga kesinambungan usaha dan memastikan bahwa semua asetnya dapat beroperasi dengan aman. “Jadi, beberapa rencana per-baikan tetap dieksekusi supaya kegiatan operasi lebih reliable ke depan,” tandas dia.

80% of Inalum's aluminum

sales this year are directed to

the domestic market

Reporter: Ridwan Nanda Mulyana | Editor: Handoyo

P

T INDONESIA Asahan Aluminum (Persero) aka Inalum this year will increase the portion of aluminum sales to the domestic market. Inalum targets supply to the domestic market to reach 80 percent of total sales.

80% Penjualan aluminium

Inalum tahun ini diarahkan ke

pasar domestik

PT INDONESIA Asahan Aluminium

(Persero) alias Inalum pada tahun ini bakal meningkatkan porsi penjualan aluminium ke pasar domestik. Inalum menargetkan pasokan ke pasar dalam negeri mencapai 80% dari total penjualan.

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Daily News Update Page 11 Managing Director of PT Inalum (Persero)

Oggy Achmad Kosasih said that his party is prioritizing domestic aluminum consump-tion to support industrial growth and competitiveness. In 2020, domestic sales of Inalum aluminum was recorded at 75%, while the other 25% was supplied to the export market.

"For 2021, Inalum plans to increase its domestic sales portion to 80 percent of total sales," Oggy told Kontan.co.id, Sunday (28/2).

He revealed that the Covid-19 pandemic last year had no significant impact on Inalum's aluminum production. The parent company Mining Industry Indonesia (MIND ID) as the state-owned mining holding company produces 245,000 tons of aluminum.

That number is 101% of the 2020 target. However, this achievement is 2% lower than the realization in 2019. According to Oggy, the 2020 production achievements are still in accordance with market conditions at that time.

"Covid-19 does not have a significant impact on production performance. This is because the company carries out equipment maintenance according to schedule, as well as the availability of spare parts and raw materials as needed," explained Oggy. But it is different from the sales side. Oggy said, the Covid-19 pandemic had quite an impact, especially on domestic aluminum sales in the second quarter of 2020. At that time, industrial demand declined due to a slowdown in infrastructure development projects in Indonesia.

Inalum also worked around this by diverting domestic sales that were not absorbed into the export market. As a result, Inalum's sales decline in 2020 could be suppressed, which only dropped 1.5% compared to the previous year.

Direktur Pelaksana PT Inalum (Persero) Oggy Achmad Kosasih menyampaikan, pihaknya memprioritaskan konsumsi aluminium di dalam negeri untuk menunjang pertumbuhan dan daya saing industri. Pada tahun 2020, penjualan domestik aluminium Inalum tercatat 75%, sementara 25% lainnya dipasok ke pasar ekspor.

"Untuk 2021, direncanakan Inalum akan meningkatkan porsi penjualan domestik mencapai 80% dari total penjualan," kata Oggy kepada Kontan.co.id, Minggu (28/2). Dia mengungkapkan, pandemi covid-19 pada tahun lalu tidak berdampak signifikan terhadap produksi aluminium Inalum. Induk usaha Mining Industry Indonesia (MIND ID) sebagai holding pertambangan BUMN ini memproduksi aluminium sebanyak 245.000 ton.

Jumlah itu memang 101% dari target tahun 2020. Namun, capaian tersebut lebih rendah 2% jika dibandingkan realisasi tahun 2019. Menurut Oggy, capaian produksi 2020 masih sesuai dengan kondisi pasar saat itu. "Covid-19 tidak memberikan dampak yang signifikan terhadap kinerja produksi. Hal ini dikarenakan Perusahaan melaksanakan

maintenance peralatan sesuai jadwal, serta

ketersediaan sparepart dan bahan baku sesuai yang diperlukan," jelas Oggy.

Namun lain halnya dari sisi penjualan. Kata Oggy, pandemi covid-19 cukup memberikan dampak, khususnya terhadap penjualan domestik aluminium pada periode Kuartal II-2020. Kala itu demand industri menurun karena perlambatan proyek pembangunan infrastruktur di Indonesia.

Inalum pun menyiasatinya dengan meng-alihkan penjualan domestik yang tidak terserap ke pasar ekspor. Alhasil, penu-runan penjualan Inalum pada tahun 2020 bisa ditekan, yakni hanya merosot 1,5% dibandingkan tahun sebelumnya.

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Daily News Update Page 12 Last year, Inalum's sales volume reached

250,000 tons. Even though it decreased slightly compared to 2019, but on an annual basis, that figure reached 103% of Inalum's sales target in 2020. "So that overall, both in terms of production and sales, in 2020 Inalum is able to meet the targets of shareholders," said Oggy.

Even so, this year Inalum has set a lower target than the realization of aluminum production and sales in 2020. In general, Inalum's production target in 2021 is 3% lower than in 2020, while the sales target is down 5%.

Oggy said the lower production and sales targets were considering upgrading pots at an aluminum smelting facility in North Sumatra.

"The decline in production and sales targets is not due to Covid-19, but the company will begin a pot upgrading project to increase the capacity of the aluminum factory in the future," Oggy explained.

By upgrading the pot, Inalum targets its production capacity to increase to 300,000 metric tons per year. The stove modernization, which is one of Inalum's strategic projects, is in the final stage of the Engineering, Procurement, and Construc-tion (EPC) contract.

"This is important, considering that the reduction furnace is a major part of the company's business, so that its imple-mentation must be ensured that it goes according to plan," said Oggy.

The stove modernization project is estimated to be completed in November 2022. That way, Inalum hopes that by 2023 it will be able to operate with the latest technology of stoves so that it can increase productivity.

Tahun lalu, volume penjualan Inalum men-capai 250.000 ton. Meski turun tipis di-bandingkan tahun 2019, namun secara target tahunan, angka itu mencapai 103% dari target penjualan Inalum di 2020. "Sehingga secara keseluruhan baik dari sisi produksi dan penjualan, tahun 2020 Inalum mampu memenuhi target dari pemegang saham," ungkap Oggy.

Meski begitu, pada tahun ini Inalum me-matok target yang lebih rendah dibanding-kan realisasi produksi dan penjualan aluminium pada 2020. Secara umum target produksi Inalum di 2021 lebih rendah 3% dari tahun 2020, sedangkan untuk target penjualan turun 5%.

Oggy mengatakan, penurunan target pro-duksi dan penjualan tersebut mempertim-bangkan pengerjaan modernisasi tungku (upgrading pot) pada fasilitas peleburan aluminium di Sumatera Utara. "Penurunan target produksi dan penjualan bukan dikarenakan covid-19, namun Perusahaan akan mulai melakukan proyek pot upgrading untuk meningkatkan kapasitas pabrik aluminium ke depannya," jelas Oggy.

Dengan upgrading pot tersebut, Inalum menargetkan kapasitas produksi bisa meningkat menjadi 300.000 metrik ton per tahun. Modernisasi tungku yang merupakan salah satu proyek strategis Inalum itu sedang dalam tahap finalisasi kontrak Engineering,

Procurement, and Construction (EPC).

"Hal ini penting, mengingat tungku reduksi merupakan bagian utama dari bisnis per-usahaan, sehingga pelaksanaannya harus benar-benar dipastikan berjalan sesuai dengan rencana," ungkap Oggy.

Proyek modernisasi tungku itu diestimasikan selesai pada November 2022. Dengan begitu, Inalum berharap pada tahun 2023 telah bisa beroperasi dengan tungku berteknologi terbaru sehingga bisa meningkatkan produktivitas.

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Daily News Update Page 13 Therefore, Oggy emphasized that although

the share of the domestic market will be increased, expansion of the export market is still being worked on. Namely, through cooperation with MIND ID Trading Co., a subsidiary in the trading house sector. "Inalum will also cooperate with other trading houses in exporting. With the hope that the Inalum brand name will be better maintained in the international market," concluded Oggy.

Oleh sebab itu, Oggy menegaskan bahwa meski porsi pasar domestik akan di-tingkatkan, namun perluasan pasar ekspor tetap digarap. Yakni melalui kerjasama dengan MIND ID Trading Co., anak usaha di bidang trading house.

"Inalum juga akan bekerjasama dengan

trading house lainnya dalam melakukan

ekspor. Dengan harapan agar brand name Inalum lebih tetap terjaga dalam pasar internasional," pungkas Oggy.

Export Market Recovers, Indo

Tambangraya (ITMG) Aims for

Sales of 22.0 Million Tons

Author: Finna U. Ulfah

PT INDO Tambangraya Megah Tbk.

optimistic that the export market will be better than last year in line with the Covid-19 vaccination program in many countries which will push the wheels of the world economy to roll back.

Indo Tambangraya Megah Director of Investor Relations Yulius Gozali said that demand, especially from China, is expected to grow significantly, because the country is experiencing a shortage of coal supply as a result of the political policy to ban coal imports from Australia.

Yulius revealed that the increase in coal prices in the last few months has reflected the increasing demand due to this factor. "We estimate the export market will be better than last year [...] We also hope that this positive trend in prices will continue until the end of the year, but of course we cannot confirm it," said Yulius to Bisnis, Friday (26/2/2021).

Pasar Ekspor Pulih, Indo

Tambangraya (ITMG) Bidik

Penjualan 22,0 Juta Ton

PT INDO Tambangraya Megah Tbk.

optimistis pasar ekspor akan lebih baik daripada tahun lalu sejalan dengan program vaksinasi Covid-19 di banyak negara yang akan mendorong roda ekonomi dunia berputar kembali.

Direktur Hubungan Investor Indo Tambang-raya Megah Yulius Gozali mengatakan bahwa permintaan terutama dari China diperkirakan tumbuh signifikan, karena negara itu mengalami kekurangan pasokan batu bara sebagai akibat kebijakan politik larangan impor batu bara dari Australia.

Yulius mengungkapkan kenaikan harga batu bara dalam beberapa bulan terakhir pun telah mencerminkan permintaan yang meningkat akibat faktor tersebut.

“Kami memperkirakan pasar ekspor akan lebih baik daripada tahun lalu [...] Kami pun berharap tren positif harga ini akan berlanjut hingga akhir tahun, tetapi tentu saja kami tidak dapat memastikannya,” ujar Yulius kepada Bisnis, Jumat (26/2/2021).

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Daily News Update Page 14 Therefore, the issuer coded ITMG shares is

targeting 2021 sales volume of 20.7 million to 22.9 million tonnes, which tends to be higher than 2020's sales of 21.2 million tonnes. China, Japan and the domestic market were still the company's biggest buyers last year.

The company admits that it will continue to expand into emerging markets, especially in Asean and Asia-Pacific, which are engines of coal demand growth, while maintaining the company's established markets such as China, Japan and India. In addition, ITMG will also increase third-party coal trading activities to capture emerging markets and capture higher margins. Thus, the company can improve its weak performance last year.

Based on the 2020 financial report, ITMG only pocketed revenue of US$ 1.18 billion, down 30.9 percent compared to 2019's acquisition of US$ 1.71 billion.

Accordingly, profit for the period attributable to the parent entity shrank 74.6 percent year on year to US$ 33.28 million in 2020.

On the other hand, from the production side, the company targets 17.7 million to 19.9 million tons, relatively higher than the 2020 production realization of 18.4 million tons.

On the trading floor, at the close of trading on Friday (26/2/2021) ITMG shares rose 0.83 percent to Rp12,200 per share. ITMG's market capitalization reached Rp 13.79 trillion. Throughout the year 2021, ITMG shares corrected 10.62 percent.

Editor: Rivki Maulana

Oleh karena itu, emiten berkode saham ITMG itu menargetkan volume penjualan 2021 sebesar 20,7 juta hingga 22,9 juta ton, cenderung lebih tinggi daripada perolehan penjualan 2020 sebesar 21,2 juta ton. China, Jepang, dan pasar domestik masih menjadi pembeli terbesar bagi per-seroan pada tahun lalu.

Perseroan mengaku akan terus melakukan ekspansi ke pasar negara berkembang khususnya di Asean dan Asia-Pasifik yang menjadi mesin pertumbuhan permintaan batu bara, sambil menjaga pasar perseroan yang sudah mapan seperti China, Jepang, dan India.

Selain itu, ITMG juga akan juga mening-katkan aktivitas perdagangan batu bara pihak ketiga untuk menangkap pasar yang tengah bertumbuh dan menangkap marjin yang lebih tinggi. Dengan demikian, per-seroan dapat memperbaiki kinerja yang melemah pada tahun lalu.

Berdasarkan laporan keuangan 2020, ITMG hanya mengantongi pendapatan sebesar US$1,18 miliar, turun 30,9 persen dibandingkan dengan perolehan 2019 sebesar US$1,71 miliar.

Sejalan dengan itu, laba periode berjalan yang diatribusikan kepada entitas induk menyusut 74,6 persen secara year on year menjadi US$33,28 juta pada 2020.

Di sisi lain, dari sisi produksi perseroan menargetkan sebesar 17,7 juta hingga 19,9 juta ton, relatif lebih tinggi dibandingkan dengan realisasi produksi 2020 sebesar 18,4 juta ton.

Di lantai bursa, pada penutupan perda-gangan Jumat (26/2/2021) saham ITMG naik 0,83 persen ke posisi Rp12.200 per saham. Kapitalisasi pasar ITMG mencapai Rp13,79 triliun. Sepanjang tahun berjalan 2021, saham ITMG terkoreksi 10,62 persen. Editor : Rivki Maulana

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Adaro Power Trials Biomass

Co-Firing at the Power Plant

Reporter: Intan Pratiwi/Editor: Gita Amanda

O

NE way for the government to increase the energy mix is by co-firing biomass at the PLTU. The government encourages private involvement to also carry out this co-firing at its PLTU.

PT Adaro Power, a subsidiary of Adaro Energy, is also involved in this program. Deputy President Director of PT Adaro Power Dharma Djojonegoro said that currently Adaro Power is testing this program at one of its power plants.

"Adaro Power is ready to carry out the direction of the Ministry of ESDM and PLN to conduct co-firing. We ourselves are conducting small-scale co-firing trials in our PLTU in South Kalimantan," said Dharma to Republika, Monday (1/3). Dharma also explained that this co-firing technique is not new. In several developed countries, they have also conducted co-firing at PLTU PLTU in order to produce electricity that is more environmentally friendly. "Indeed, this is something that has been done quite a lot in foreign PLTUs," said Dharma.

However, said Dharma, the trial had to be done first. Because, he said, not all PLTUs could be co-fired. Moreover, the specifi-cations and characteristics of each in each PLTU are needed. That is why, said Dharma, Adaro Power is still conducting trials in order to find the right formula for the PLTU.

Adaro Power Uji Coba

Co-Firing

Biomassa di Pembangkit

Reporter: Intan Pratiwi/Redaksi: Gita Amanda

SALAH satu cara pemerintah untuk

me-ningkatkan bauran energi adalah dengan melakukan co-firing biomassa di PLTU. Pemerintah mendorong keterlibatan swasta untuk juga melakukan co-firing ini di PLTU-nya.

PT Adaro Power anak usaha Adaro Energy di pembangkitan juga turut serta dalam program ini. Wakil Presiden Direktur PT Adaro Power Dharma Djojonegoro mengatakan saat ini Adaro Power sedang melakukan uji coba program ini di salah satu pembangkitnya.

"Adaro Power siap melaksanakan arahan kementerian ESDM dan PLN untuk melakukan co-firing. Kami sendiri sedang melakukan percobaam co-firing dalam skala kecil dalam PLTU kami di Kalimantan Selatan," ujar Dharma kepada Republika, Senin (1/3).

Dharma juga menjelaskan teknik co-firing ini memang bukan hal baru. Di beberapa negara maju juga sudah melakukan

co-firing ini di PLTU PLTU agar memproduksi

energi listrik yang lebih ramah lingkungan. "Memang ini sesuatu yg sudah cukup banyak dilakukan di PLTU luar negeri," ujar Dharma.

Namun, kata Dharma uji coba memang lebih dulu harus dilakukan. Sebab, kata dia tidak seluruh PLTU bisa dilakukan

co-firing. Apalagi, butuh spesifikasi dan

karakteristik masing masing di setiap PLTU. Itulah mengapa, kata Dharma Adaro Power masih melakukan uji coba agar bisa menemukan formula yang pas untuk di PLTU nya.

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Daily News Update Page 16 "Of course, it needs to be ensured that it

does not interfere with technical perfor-mance, because each PLTU and each co-firing material has its own characteristics," said Dharma.

On the one hand, the Government through the Ministry of ESDM has indeed encouraged the massive co-firing of biomass in the existing PLTU. However, for the time being, the government encourages PLN to do this first. However, the govern-ment is very open if there are IPPs that conduct trials of this program.

The Director General of New, Renewable Energy and Energy Conservation (EBTKE) of the Ministry of ESDM, Dadan Kusdiana, said that his party was preparing a Ministerial Regulation (Permen) ESDM to regulate co-firing. The regulation is expected to stimulate the involvement of IPP's PLTU in the biomass blending program for the coal-fired power plant. "The Ministry of ESDM is finalizing its regulations for co-firing. This includes non-PLN generators," said Dadan.

Dadan said the ESDM Ministerial Regulation would regulate engineering aspects, especially biomass fuel specifi-cations. Apart from that, it also regulates the corridor or biomass price formulation and its monitoring.

Meanwhile, the incentives provided by the government to encourage the co-firing program for coal-fired power plants include the construction of facilities for the production of biomass fuel from municipal waste.

It is also hoped that the regulation that will be made by the Ministry of ESDM will make the economy of co-firing and the procurement of biomass more attractive. "For biomass, the direction is (production) to (to form) woodchips, not to pellets. So that the economy will be better," added Dadan.

"Tentunya perlu dipastikan tidak meng-ganggu kinerja secara teknis, karena setiap PLTU dan setiap bahan co-firing punya karakteristik masing-masing," ujar Dharma. Disatu sisi Pemerintah melalui Kementerian ESDM memang mendorong masifnya

co-firing biomassa ini di PLTU yang ada.

Namun, untuk sementara pemerintah mendorong lebih dulu PLN melakukan hal ini. Namun, pemerintah sangat terbuka jika ada IPP yang melakukan uji coba program ini.

Direktur Jenderal Energi Baru, Terbarukan dan Konservasi Energi (EBTKE) Kemen-terian ESDM Dadan Kusdiana menyampai-kan bahwa pihaknya sedang menyusun Peraturan Menteri (Permen) ESDM untuk mengatur co-firing. Regulasi tersebut diharapkan bisa merangsang keterlibatan PLTU milik IPP dalam program pencam-puran biomassa kepada pembangkit listrik berbahan bakar batubara tersebut.

"Kementerian ESDM sedang mematangkan regulasinya untuk co-firing. Termasuk pada pembangkit non-PLN," kata Dadan.

Dadan bilang, Permen ESDM tersebut bakal mengatur aspek keteknikan khususnya spesifikasi bahan bakar biomassa. Selain itu, diatur juga tentang koridor atau formulasi harga biomassa dan pengawasannya.

Adapun, insentif yang diberikan pemerintah untuk mendorong program co-firing PLTU batubara antara lain berupa pembangunan fasilitas untuk produksi bahan bakar biomassa dari sampah kota.

Regulasi yang akan dibuat Kementerian ESDM juga diharapkan bakal membuat keekonomian co-firing dan pengadaan biomassa menjadi lebih menarik. "Untuk biomassa arahnya (produksi) sampai (ke bentuk) woodchips, tidak ke pellet. Sehingga keekonomiannya akan semakin baik," tambah Dadan.

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Sales of United Tractors (UNTR)

heavy equipment are projected

to increase in 2021

Reporter: Avanty Nurdiana | Editor: Avanty Nurdiana

SALES of PT United Tractors Tbk (UNTR)

heavy equipment decreased in December 2020. This is due to the rainy season and fewer working days.

Even so, RHB Sekuritas analyst Andrey Wijaya, in his research on February 24, 2021, said that the sales of United Tractors' heavy equipment in 2020 exceeded the target set by RHB Sekuritas, namely 101-106% of the estimate which targets to sell 1,500 units. "We are optimistic about heavy equipment sales this year, because we estimate mining activities will return to normal," he explained in his research.

Sales of UNTR heavy equipment under the Komatsu brand were sold 1,564 units throughout 2020. Meanwhile in December 2020, sales of UNTR heavy equipment reached 83 units, down 39% on a monthly basis. However, UNTR's market share shrank to 18% from 30% the previous month.

Sales of heavy equipment in the mining sector this year contributed 35% lower than 2019 which contributed 41%. Meanwhile, the sales contribution of heavy equipment in the construction sector was 35% in 2020, higher than 2019 which contributed 31%. Construction heavy equipment throughout 2020 will be the biggest contributor. Although, the share of mining has decreased drastically year on year. The share of heavy equipment sales in the forestry sector is 18% in 2020 and 16% in 2019.

Penjualan alat berat United

Tractors (UNTR) diproyeksi naik

di 2021

Reporter: Avanty Nurdiana | Editor: Avanty Nurdiana

PENJUALAN alat berat PT United Tractors

Tbk (UNTR) menurun pada Desember 2020. Ini karena musim hujan dan hari kerja yang lebih sedikit.

Meski begitu, Analis RHB Sekuritas Andrey Wijaya dalam riset 24 Februari 2021 menga-takan, hasil penjualan alat berat United Tractors di tahun 2020 melebihi target yang dibuat oleh RHB Sekuritas yakni 101%-106% dari perkiraan yang menargetkan bisa men-jual 1.500 unit. "Kami optimistis dengan penjualan alat berat tahun ini, karena kami memperkirakan aktivitas penambangan akan kembali normal," terang dia dalam riset. Penjualan alat berat UNTR dengan merek Komatsu terjual 1.564 unit sepanjang 2020. Sementara pada Desember 2020, penjualan alat berat UNTR mencapai 83 unit, turun 39% secara bulanan. Namun, pangsa pasar UNTR menyusut menjadi 18% dari 30% bulan sebelumnya.

Penjualan alat berat sektor pertambangan pada tahun ini berkontribusi sebesar 35% lebih rendah dari tahun 2019 yang menyumbang 41%. Sementara, kontribusi penjualan alat berat sektor konstruksi 35% di tahun 2020, lebih tinggi dari tahun 2019 yang menyumbang 31%.

Alat berat konstruksi sepanjang 2020 menjadi kontributor terbesar. Meskipun, porsi penambangan menurun drastis secara year on year. Porsi penjualan alat berat di sektor kehutanan sebesar 18% di 2020 dan 16% pada 2019.

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Daily News Update Page 18 Meanwhile, the contribution of heavy

equipment sales in the agricultural industry was 12% in 2020 compared to 11% in 2019. "Domestic sales of heavy equipment nationwide in 2020 reached 5,393 units, or decreased by 45% YoY," explained Andrey in his research.

The results of the operational performance of UNTR's subsidiary in the mining contract sector, Pama Persada Nusantara, were also above analyst expectations. The volume of overburden removal (OB) reached 62.2 million bank cum (bcm). When compared to monthly basis, it decreased 3% on MoM basis and decreased by 14% YoY.

But when compared with the UNTR overburden target in 2020, it actually increased from the initial projection or met 101% of the target. UNTR's strip ratio is also at a lower level of 6.3 times a month, lower than December 2019's 6.5x.

Coal output during December was unchanged at 9.9 million tonnes. This figure did not grow, aka 0% on a MoM basis and decreased by 12% YoY. Cumulatively, the coal output sent by UNTR was 114.7 million tons, down 13% YoY. However, this figure fulfills 102% of the 2020 target.

If coal production is stagnant. In December 2020, UNTR actually booked an increase in coal sales to 1 million tons or an increase of 73% on a MoM basis. As a result, UNTR's coal sales throughout 2020 increased 9% to 9.3 million tonnes. This figure meets 103% of the 2020 target.

The sales volume of thermal coal in December 2020 contributed as much as 676,000 tonnes or an increase of 52% MoM. Meanwhile, the coking coal segment showed remarkable growth of 337,000 tonnes, up 60% YoY and up 136% on a MoM basis.

Sedangkan kontribusi penjualan alat berat di bidang industri pertanian sebesar 12% di 2020 dibanding 11% pada 2019. "Pen-jualan alat berat domestik secara nasional di tahun 2020 mencapai 5.393 unit atau turun 45% secara YoY," terang Andrey dalam riset.

Hasil kinerja operasional anak usaha UNTR di bidang kontrak pertambangan, Pama Persada Nusantara juga di atas ekspektasi analis. Volume pemindahan lapisan penutup alias overburden (OB) mencapai 62,2 juta bank cum (bcm). Jika dibanding-kan secara bulanan turun 3% secara MoM dan turun 14% YoY.

Tapi jika dibandingkan dengan target overburden UNTR di tahun 2020 justru meningkat dari proyeksi awal atau memenuhi 101% dari target. Nisbah kupas UNTR juga berada di level lebih rendah yakni 6,3 kali selama sebulan lebih rendah dari Desember 2019 6,5x.

Output batubara selama bulan Desember tidak berubah di 9,9 juta ton. Angka tersebut tidak tumbuh alias 0% secara MoM dan turun 12% secara YoY. Secara kumulatif output batubara yang dikirim UNTR sebesar 114,7 juta ton, turun 13% secara YoY. Namun angka ini memenuhi 102% dari target tahun 2020.

Jika produksi batubara stagnan. Di Desember 2020, UNTR justru membukukan kenaikan penjualan batubara menjadi 1 juta ton atau naik 73% secara MoM. Akibatnya, penjualan batubara UNTR sepanjang 2020 naik 9% menjadi 9,3 juta ton. Angka ini memenuhi 103% dari target tahun 2020.

Volume penjualan batubara termal pada bulan Desember 2020 berkontribusi sebanyak 676.000 ton atau naik 52% MoM. Sementara segmen batubara coking menunjukkan pertumbuhan yang luar biasa yakni sebanyak 337.000 ton atau naik 60% YoY dan naik 136% secara MoM.

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Daily News Update Page 19 However, in terms of contribution, thermal

coal sales are still the majority, namely generating 80% of UNTR's total coal sales volume in 2020. Throughout 2020, UNTR's sales of thermal coal were sold around 7.4 million tonnes, only up 1% yoy.

Meanwhile, coking coal only contributed 20%, equivalent to 1.9 million tonnes (+ 62% YoY).

UNTR's sales of gold in 2020 decreased 23% yoy to 318,000 troi ounces. But the realization of UNTR's gold sales met 106% of the 2020 target.

In December 2020 alone, UNTR sold 21,000 troi ounces of gold, stagnating on a MoM basis and down 9% YoY.

"We see the expected increase in this segment, because the company has started to reduce the portion of hedging. Where 80% of gold sales are now pegged to the spot price), and the utilization rate at its gold mine has become normal," explained Andrey in his research. UNTR estimates that in the future gold production will be limited to 350,000 oz.

This year, UNTR has allocated capital expenditure of US$ 290 million, up 52% year on year (YoY). Where 50% of capex will be allocated for mining contracts, 40% for the gold business and 10% for routine maintenance.

Andrey said the main risks from the UNTR prospect were weak sales of heavy equipment, an unprecedented decline in coal prices, and a prolonged COVID-19 pandemic. Because this will have an impact on global coal demand.

In 2021, RHB Sekuritas estimates that UNTR's revenue and net profit will be Rp 79.86 trillion and Rp 10.55 trillion, respectively. Because of that,...

Namun secara kontribusi, penjualan batu-bara termal masih mayoritas yakni meng-hasilkan 80% dari total volume penjualan batubara UNTR di tahun 2020. Sepanjang 2020, penjualan batubara termal UNTR terjual sekitar 7,4 juta ton hanya naik 1% secara yoy.

Sementara batubara kokas hanya menyum-bang 20% setara dengan 1,9 juta ton (+62% YoY).

Penjualan emas UNTR pada tahun 2020 menurun 23% secara yoy menjadi 318.000 troi ons. Tapi realisasi penjualan emas UNTR memenuhi 106% dari target tahun 2020. Pada bulan Desember 2020 saja, UNTR menjual emas sebanyak 21.000 troi ons, stagnan secara MoM dan turun 9% secara YoY.

"Kami melihat peningkatan yang diharapkan di segmen ini, karena perusahaan telah mulai mengurangi porsi lindung nilai. Dimana 80% dari penjualan emas sekarang dipatok ke harga spot), dan tingkat pemanfaatan di tambang emasnya menjadi normal," jelas Andrey dalam riset. UNTR memperkirakan ke depan produksi emas akan dibatasi sebanyak 350.000 oz.

Pada tahun ini, UNTR telah mengalokasikan belanja modal US$ 290 juta atau naik 52% secara year on year (YoY). Dimana 50% belanja modal akan dialokasikan untuk kontrak penambangan, 40% untuk bisnis emas dan 10% untuk pemeliharaan rutin. Andrey mengatakan, risiko utama dari prospek UNTR adalah melemahnya pen-jualan alat berat, penurunan harga batubara yang belum pernah terjadi sebelumnya, dan pandemi COVID-19 berkepanjangan. Sebab ini akan berdampak pada permintaan batu-bara global.

Pada tahun 2021, RHB Sekuritas memper-kirakan, pendapatan dan laba bersih UNTR masing-masing akan menjadi Rp 79,86 triliun dan Rp 10,55 triliun. Karena itu,...

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Daily News Update Page 20 Because of that, Andrey still recommends

buying UNTR shares with a target price of Rp 35,000.

On Friday (26/2) UNTR's share price closed down 4.65% to Rp 22,550 per share.

Karena itu, Andrey masih memberi rekomendasi beli saham UNTR dengan target harga Rp 35.000.

Pada Jumat (26/2) harga saham UNTR ditutup turun 4,65% menjadi Rp 22.550 per saham.

Working on a number of aluminum

projects, Inalum has budgeted a

capex of US$318 million this year

P

T INDONESIA Asahan Aluminum (Persero)

aka Inalum has budgeted a capital expenditure (capex) of US$ 318 million for this year. The funds will be used to finance a number of downstream projects and increase aluminum production capacity. Managing Director of PT Inalum (Persero) Oggy Achmad Kosasih emphasized that the US$ 318 million capex was used for Inalum as an operating company, not on a holding consolidated basis (MIND ID). This year's Capex Inalum is also a continuation of the capex that was not absorbed last year. "In 2020, several work contracts that have been agreed upon cannot be executed due to limitations in entry and exit between regions and between countries due to the Covid-19 pandemic. So that the realization of the capex is not too large, and carried forward to 2021," said Oggy when contacted by Kontan.co .id, Sunday (28/2).

Meanwhile, the funds will be used for various projects such as the Smelter Grade Alumina Refinery (SGAR) in Mempawah, West Kalimantan, smelter expansion and furnace modernization (upgrading pot) at an aluminum smelting facility in North Sumatra.

Garap sejumlah proyek

aluminium, Inalum anggarkan

capex US$ 318 juta di tahun ini

PT INDONESIA Asahan Aluminium (Persero)

alias Inalum menganggarkan belanja modal (capital expenditure/capex) sebesar US$ 318 juta untuk tahun ini. Dana itu akan digunakan untuk membiayai sejumlah proyek hilirisasi dan peningkatan kapasitas produksi aluminium.

Direktur Pelaksana PT Inalum (Persero) Oggy Achmad Kosasih menegaskan, capex US$ 318 juta itu digunakan untuk Inalum sebagai

operating company, bukan secara konsolidasi holding (MIND ID). Capex Inalum tahun ini juga

merupakan lanjutan dari belanja modal yang tak terserap pada tahun lalu.

"Tahun 2020 beberapa kontrak pekerjaan yang sudah disepakati belum dapat dijalankan karena adanya keterbatasan keluar masuk antara daerah maupun antara negara akibat pandemi covid-19. Sehingga realisasi capex tidak terlalu besar, dan di carry forward ke 2021," kata Oggy saat dihubungi Kontan.co.id, Minggu (28/2).

Adapun, dana tersebut akan dipakai untuk berbagai proyek seperti Smelter Grade Alumina

Refinery (SGAR) di Mempawah Kalimantan

Barat, ekspansi smelter serta modernisasi tungku (upgrading pot) pada fasilitas peleburan aluminium di Sumatera Utara.

(21)

Daily News Update Page 21 "In accordance with the mandate of

shareholders to carry out downstream activities, Inalum has several large projects for integration from upstream to down-stream," said Oggy.

In addition to the SGAR project and upgrading pot & revamping, this year Inalum is also working on the Calcined Petroleum Coke (CPC) project, increasing the capacity of a Hydro Power Plant (PLTA), integrating bauxite mines, and recycle aluminum.

For the SGAR project which is being carried out with PT Aneka Tambang Tbk. (Antam), is currently entering the construction phase. Until January 2021, the progress has been recorded at 14.26%. The alumina smelter project is targeted to achieve 70.52 percent project progress this year.

"However, it also depends on the current situation and conditions, especially related to the pandemic. Hopefully there are no significant obstacles, I am optimistic that the project can run according to target," said Oggy.

The progress, which is targeted at 70.52 percent, covers all major works of refineries and power plants. Meanwhile, the smelter project, which has an investment value of US$ 841 million, is targeted to be completed in the third quarter of 2023.

In addition, Inalum is also working on the North Kalimantan (Kaltara) project to build a smelter with a capacity of up to 1,000 Ktpa or 1 million tons of aluminum. The project is currently in the review and verification phase to determine the sustainability and consistency of electric power, including the cost of generating it. "As for the smelter construction, we ensure the PLTA construction first and will be aligned with the completion of the smelter construction," Oggy concluded.

"Sesuai dengan mandat pemegang saham untuk melakukan hilirisasi, Inalum memiliki beberapa proyek besar untuk integrasi mulai dari hulu hingga ke hilir," ungkap Oggy.

Selain proyek SGAR dan upgrading pot &

revamping, pada tahun ini Inalum juga

mengerjakan proyek Calcined Petroleum

Coke (CPC), penambahan kapasitas

Pem-bangkit Listrik Tenaga Air (PLTA), integrasi tambang bauksit, hingga aluminium recycle. Untuk proyek SGAR yang dikerjakan bersama PT Aneka Tambang Tbk. (Antam), saat ini sudah memasuki tahap pekerjaan konstruksi. Hingga Januari 2021, capaian progresnya tercatat sebesar 14,26%. Proyek

smelter alumina ini ditargetkan dapat

men-capai progres proyek 70,52% pada tahun ini. "Namun hal itu juga tergantung pada situasi dan kondisi saat ini, khususnya terkait pandemi. Mudah-mudahan tidak ada kendala berarti, saya optimis proyek dapat berjalan sesuai target," ungkap Oggy.

Progres yang ditargetkan 70,52% itu men-cakup seluruh pekerjaan utama refinery maupun pembangkit listrik. Adapun, proyek

smelter yang memiliki nilai investasi sebesar

US$ 841 juta ini ditargetkan bisa rampung pada Kuartal III-2023.

Selain itu, Inalum juga menggarap proyek Kalimantan Utara (Kaltara) untuk mem-bangun smelter dengan kapasitas mencapai 1.000 Ktpa atau 1 juta ton aluminium. Proyek tersebut sedang dalam tahap kajian dan verifikasi untuk menentukan kesinam-bungan dan konsistensi tenaga listrik, ter-masuk biaya pembangkitannya.

"Sedangkan untuk pembangunan smelter kita pastikan pembangunan PLTA-nya dulu dan akan diselaraskan dengan penyelesaian pembangunan smelter," pungkas Oggy.

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Boosting its expansion, Indo

Tambangraya (ITMG) is ready to

spend half a trillion

T

HE COAL mining company, PT Indo Tambangraya Megah Tbk., Has allocated capital expenditures of up to US$ 40.5 million or the equivalent of Rp 578 billion (exchange rate of Rp 14,277) throughout 2021.

Indo Tambangraya Megah Director of Investor Relations Yulius Gozali said that the capital expenditure (capex) will be used for the maintenance and development of infrastructure throughout the mine. "This year's capex is US$ 40.5 million," said Yulius to Bisnis, Friday (26/2/2021). Based on Bisnis record, the capex is lower than last year's allocation of around US$ 50 million. The issuer coded ITMG shares has prepared a number of strategies to target performance growth this year, improving 2020's weakened performance in line with the many business challenges caused by the Covid-19 pandemic.

Throughout 2020, ITMG only pocketed revenue of US$ 1.18 billion, down 30.9 percent compared to 2019's acquisition of US$ 1.71 billion.

Accordingly, profit for the period attributable to the parent entity shrank 74.6 percent year on year to US$ 33.28 million in 2020.

Yulius said that the company will continue to strive to improve efficiency in mining operations, maximize coal reserves, and increase product portfolio variations to suit changing customer needs.

Genjot Ekspansi, Indo

Tambangraya (ITMG) Siap

Rogoh Kocek Setengah Triliun

EMITEN pertambangan batu bara, PT Indo

Tambangraya Megah Tbk., mengalokasikan belanja modal hingga US$40,5 juta atau setara Rp578 miliar (Kurs Rp14.277) sepanjang 2021.

Direktur Hubungan Investor Indo Tambang-raya Megah Yulius Gozali mengatakan belanja modal atau capital expenditure (capex) akan digunakan untuk pemeliharaan dan pengembangan infrastruktur di seluruh tambang.

“Belanja modal untuk tahun ini US$40,5 juta,” ujar Yulius kepada Bisnis, Jumat (26/2/2021). Berdasarkan catatan Bisnis, capex tersebut lebih rendah daripada alokasi tahun lalu sekitar US$50 juta. Emiten berkode saham ITMG itu telah menyiapkan sejumlah strategi untuk mengincar pertumbuhan kinerja pada tahun ini, memperbaiki kinerja 2020 yang melemah seiring dengan banyaknya tantangan bisnis akibat pandemi Covid-19. Sepanjang 2020, ITMG hanya mengantongi pendapatan sebesar US$1,18 miliar, turun 30,9 persen dibandingkan dengan perolehan 2019 sebesar US$1,71 miliar.

Sejalan dengan itu, laba periode berjalan yang diatribusikan kepada entitas induk menyusut 74,6 persen secara year on year menjadi US$33,28 juta pada 2020.

Yulius mengatakan bahwa perseroan akan terus berupaya meningkatkan efisiensi dalam operasi penambangan, memaksimal-kan cadangan batu bara, dan menambah variasi portofolio produk untuk menye-suaikan dengan kebutuhan pelanggan yang berubah-ubah.

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