THE PERFORMANCE of the three state- KINERJA tiga emiten BUMN tambang owned mining companies is believed to diyakini dapat berangsur pulih pada tahun gradually recover this year, supported by ini didukung tren kenaikan harga komoditas the rising trend in commodity prices and dan prospek pemulihan ekonomi. the prospect of economic recovery. Equity Research Analyst NH Korindo Equity Research Analyst NH Korindo Sekuritas Maryoki Pajri Alhusnah mengata- Sekuritas Maryoki Pajri Alhusnah said that kan bahwa secara umum kinerja tiga emiten in general the performance of the three BUMN tambang, PT Aneka Tambang Tbk. state-owned mining companies, PT Aneka (ANTM), PT Timah Tbk. (TINS), dan PT Bukit Tambang Tbk. (ANTM), PT Timah Tbk. Asam Tbk. (PTBA) akan perlahan membaik. (TINS), and PT Bukit Asam Tbk. (PTBA) Hal itu didukung dengan asumsi pemulihan will slowly improve. ekonomi berjalan dengan lancar setelah This is supported by the assumption that mengalami tekanan pada tahun lalu akibat the economic recovery will run smoothly pandemi Covid-19. after experiencing pressure last year due “Selain itu, harga-harga komoditas yang jauh to the Covid-19 pandemic. lebih tinggi daripada 2020 juga akan menjadi "In addition, commodity prices that are pendukung dari kinerja emiten-emiten much higher than 2020 will also support tersebut,” ujar Maryoki kepada Bisnis, Senin the performance of these companies," said (15/3/2021). Maryoki to Bisnis, Monday (15/3/2021). Berdasarkan data yang dihimpun Bisnis, trio Based on data compiled by Bisnis, the trio emiten pertambangan pelat merah, kompak of state-owned mining issuers, compactly mencetak penurunan pendapatan pada scored a decline in revenue in 2020. 2020. Among the three issuers, only ANTM Di antara ketiga emiten itu, hanya ANTM managed to record impressive bottom line yang berhasil mencetak pertumbuhan growth, which skyrocketed 492.91 percent bottom line impresif, yaitu melejit 492,91 to Rp1.14 trillion. persen menjadi Rp1,14 triliun. Meanwhile, PTBA posted a 41.17 percent Sementara itu, PTBA mencetak penurunan decline in profit to Rp 2.38 trillion and laba 41,17 persen menjadi Rp2,38 triliun dan TINS still posted a net loss of Rp 340.59 TINS masih membukukan rugi bersih billion. sebesar Rp340,59 miliar. Meanwhile, Maryoki explained that the Adapun, Maryoki menjelaskan bahwa decline in the performance of the three penurunan kinerja ketiga emiten tersebut issuers was due to the Covid-19 pandemic disebabkan pandemi Covid-19 sehingga which hampered the production process. membuat proses produksi menjadi terhambat.

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Then, the average selling price (ASP) of Kemudian, average selling price (ASP) several commodities also decreased, thus beberapa komoditas juga menurun depressing margins. sehingga menekan margin. However, he explained that for ANTM, the Namun, dia menjelaskan untuk ANTM increase in the bottom line had succeeded peningkatan bottom linenya berhasil in growing, supported by reduced tumbuh didukung beban perusahaan yang company expenses, such as COGS and berkurang, seperti COGS dan selling selling expenses which had decreased expense yang turun cukup signifikan jika significantly when compared to 2019. dibandingkan dengan 2019. Among the three shares of the state-owned Di antara ketiga saham emiten BUMN mining company, Maryoki recommended tambang itu, Maryoki merekomendasikan selling for ANTM with a target price of jual untuk ANTM dengan target harga Rp1,480, considering that ANTM's share Rp1.480, mengingat harga saham ANTM price is considered too high. dinilai sudah terlalu tinggi. Sementara itu, Maryoki merekomendasi- Meanwhile, Maryoki recommended over- kan overweight untuk PTBA dengan target weight for PTBA with a target price of harga Rp3.030. Editor : Aprianto Cahyo Editor: Aprianto Cahyo Nugroho Rp3,030. Nugroho

This is the cause of decreased Penjualan ekspor Timah (TINS) Timah (TINS) export sales turun, ini penyebabnya Reporter: Sugeng Adji Soenarso | Editor: Reporter: Sugeng Adji Soenarso | Editor: Tendi Mahadi Tendi Mahadi

PT TIMAH Tbk recorded a decline in export PT TIMAH Tbk catatkan penurunan pen- sales over the past year. It is noted that the jualan ekspor sepanjang tahun lalu. Tercatat export market contributed Rp. 14.26 trillion, pasar ekspor menyumbang Rp 14,26 triliun, down 22.6% from export sales in 2019 turun 22,6% dari penjualan ekspor di 2019 which reached Rp. 18.4 trillion. yang mencapai Rp 18,4 triliun. Timah's Finance Director, Wibisono, Direktur Keuangan Timah, Wibisono men- explained the factors that caused this from jelaskan faktor yang menyebabkan hal the Covid-19 pandemic. "Due to the tersebut dari pandemi Covid-19. "Karena pandemic and lockdown, the industrial scale adanya pandemi dan lockdown menyebab- has decreased so that prices have dropped," kan skala industri turun sehingga harga he explained to Kontan.co.id, Monday turun," jelasnya kepada kontan.co.id, Senin (15/3). (15/3). He explained, for the export market, his Ia menjelaskan, untuk pasar ekspor pihak- party made deliveries to 3 continents, nya melakukan pengiriman ke 3 benua, namely Asia, Europe and America. yaitu Asia, Eropa dan Amerika.

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The shipments in Asia include Taiwan, Adapun pengiriman di Asia meliputi Taiwan, South Korea, Japan, India, Vietnam and the Korea Selatan, Jepang, India, Vietnam, dan Philippines. Meanwhile, the European Filipina. Sementara, pasar Eropa meliputi market includes Hungary, Germany, the Hungaria, Jerman, Belanda, Spanyol, Prancis, Netherlands, Spain, France, Italy, Switzer- Italia, Swiss, dan Austria. Kemudian, Amerika land and Austria. Then, America includes meliputi Amerika Serikat dan Kanada. the United States and Canada. "Dari ketiganya, Asia menjadi kontributor "Of the three, Asia is the main revenue utama pendapatan dengan menyumbang contributor with 68 percent, Europe 16 68%, Eropa 16% dan Amerika 14%," percent and America 14 percent," he said. tuturnya. Despite falling export market revenues, the Kendati pendapatan pasar ekspor turun, issuer coded as TINS shares managed to emiten berkode saham TINS ini berhasil record a domestic sales growth of 1.92% to mencatatkan pertumbuhan penjualan di Rp 951.35 billion. He explained that the dalam negeri sebesar 1,92% menjadi Rp 951,35 miliar. Ia menjelaskan peningkatan increase was driven by downstream metal tersebut didorong dari hilirisasi produk products. timah logam. "Domestic sales are driven by our "Penjualan domestik didorong dari anak subsidiary, Timah Industri, which sells in usaha kami, Timah Industri yang menjual the form of solder," he said. Although dalam bentuk solder," sebutnya. Kendati starting to grow, his party projects that the mulai membesar, pihaknya memproyeksikan percentage of export and domestic prosentase kontribusi ekspor dan dalam contributions will not change, namely 98% negeri belum akan berubah yaitu 98% dan and 2%. 2%. Throughout this year, TINS is targeting tin Sepanjang tahun ini, TINS menargetkan sales of at least 31 thousand tons. penjualan timah paling sedikit 31 ribu ton. Meanwhile, from the production side, the Sementara, dari sisi produksi perusahaan company targets tin ore production menargetkan volume produksi bijih timah volume to reach 30,000 this year, and tahun ini sebesar 30.000, produksi logam metal production to reach 34,000 tons. sebanyak 34.000 ton.

FABA from Coal Burning Must FABA Hasil Pembakaran Batu Be Managed Bara Wajib Dikelola Yurika Yurika

THE MINISTRY of Environment and KEMENTERIAN Lingkungan Hidup dan Forestry (LHK) states that the manage- Kehutanan (LHK) menyatakan pengelolaan ment of Fly Ash and Bottom Ash (FABA), as Fly Ash dan Bottom Ash (FABA), sebagai B3 and non-B3 waste which has been limbah B3 dan limbah nonB3 yang telah regulated in Government Regulation (PP) diatur dalam Peraturan Pemerintah (PP) Number 22 of 2021 concerning... Nomor 22 Tahun 2021 tentang...

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Number 22 of 2021 concerning Imple- Nomor 22 Tahun 2021 tentang Penye- mentation of Environmental Protection lenggaraan Perlindungan dan Pengelolaan and Management, still has an obligation to Lingkungan, tetap memiliki kewajiban be managed to meet the established untuk dikelola hingga memenuhi standar standards and technical requirements. dan persyaratan teknis yang ditetapkan. Currently, the Ministry of Environment and Saat ini KLHK tengah menyelesaikan Forestry is finalizing the Ministerial Peraturan Menteri (Permen) LHK tentang Regulation (Permen) of the LHK on pengaturan limbah non B3 dengan regulating non-B3 waste with several beberapa poin penting. important points. Rosa Vivien Ratnawati, Direktur Jenderal Rosa Vivien Ratnawati, Director General of Pengelolaan Sampah, Limbah dan Bahan Waste Management, Waste and Hazardous Berbahaya dan Beracun (PSLB3) and Toxic Materials (PSLB3) of the Kementerian LHK, mengungkapkan poin Ministry of Environment and Forestry, pertama adalah terkait dengan ruang revealed that the first point is related to lingkup pengaturan yang meliputi the scope of regulation which includes pengurangan limbah nonB3 baik sebelum reducing non-hazardous waste both before dan/atau setelah limbah dihasilkan; and/or after the waste is generated; penyimpanan limbah nonB3 yang storage of non-hazardous waste which is adjusted to the amount and form of waste disesuaikan dengan jumlah dan bentuk and should not exceed the storage limbah serta tidak boleh melebihi capacity; utilization of non-hazardous kapasitas penyimpanan; pemanfaatan waste as a substitute for raw materials, limbah nonB3 sebagai substitusi bahan substitute for energy sources, byproducts baku, substitusi sumber energi, produk referring to existing standards or new samping merujuk standar yang ada atau standards recommended by the Ministry of standar baru yang direkomendasikan Environment and Forestry; landfilling non- KLHK; penimbunan limbah nonB3 dengan hazardous waste by meeting location memenuhi standar lokasi baik dengan standards either by modifying engineering melakukan modifikasi engineering dan and meeting the standard of landfilling memenuhi stadar fasilitas penimbunan; facilities; overcoming environmental penganggulangan pencemaran lingkungan pollution and/or environmental damage hidup dan/atau kerusakan lingkungan and restoring environmental functions; hidup dan pemulihan fungsi lingkungan and reporting of non-hazardous waste hidup; dan pelaporan kegiatan pengelolaan management activities. limbah nonB3. "The next point is about the non-hazardous “Poin selanjutnya adalah tentang rencana waste management plan which includes pengelolaan limbah nonB3 yang meliputi non-hazardous waste specifically referred limbah nonB3 khusus merujuk dalam to in the environmental agreement; persetujuan lingkungan; limbah nonB3 registered non-hazardous waste must be terdaftar wajib tercantum rinci dalam listed in detail in the environmental persetujuan lingkungan; dan pengelolaan approval; and non-hazardous waste limbah nonB3 tidak memerlukan per- management does not require technical setujuan teknis,” ungkap Vivien, Senin approval,” said Vivien, Monday (15/3). (15/3).

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Another point regulates that non- Poin lainnya mengatur bahwa limbah nonB3 hazardous waste is prohibited from dilarang melakukan dumping atau pem- dumping or disposing of non-hazardous buangan Limbah nonB3 tanpa persetujuan waste without approval from the central dari pemerintah pusat; pembakaran secara government; open burning or open terbuka atau open burning; pencampuran burning; mixing non-hazardous waste with Limbah nonB3 dengan B3 dan/atau limbah B3 and/or B3 waste; and landfilling of non- B3; dan penimbunan limbah nonB3 di fasilitas hazardous waste in waste final processing tempat pemrosesan akhir (TPA) sampah. facilities (TPA). Rida Mulyana, Direktur Jenderal Ketenaga- Rida Mulyana, Director General of listrikan Kementerian ESDM, menjelaskan Electricity at the Ministry of ESDM, bahwa hasil uji karakteristik beracun TCLP explained that the results of the TCLP and dan LD-50 menunjukkan bahwa FABA yang LD-50 toxic characteristics test showed dihasilkan PLTU memiliki konsentrasi zat that the FABA produced by the PLTU had a pencemar lebih rendah dari yang diper- lower concentration of pollutants than syaratkan pada PP 22 /2021. Hasil uji required in PP 22/2021. The results of the kandungan radionuklida FABA PLTU juga FABA PLTU radionuclide content test also menunjukkan masih di bawah yang diper- showed that it was still below the require- syaratkan. ment. Rida mengatakan bahwa Negara Amerika Rida said that the United States, Australia, Serikat, Australia, Kanada, Eropa, Jepang, Canada, Europe, Japan, Russia, South Rusia, Afrika Selatan, dan di 3 (tiga) negara Africa, and in 3 (three) countries with the dengan tujuan ekspor batubara Indonesia largest export destinations for Indonesian terbesar, yaitu China, India dan Korea Selatan, coal, namely China, India and South Korea, tidak mengkategorikan FABA sebagai limbah did not categorize FABA as B3 waste but B3 melainkan sebagai limbah padat (China rather as solid waste (China and India), dan India), dan sebagai specified by-product and as specified by-product (South Korea). (Korea Selatan). FABA secara luas telah FABA has been widely used as a supporting banyak dimanfaatkan sebagai material pen- material in the infrastructure sector, land dukung pada sektor infrastruktur, stabilisasi stabilization, reclamation on ex-mining lahan, reklamasi pada lahan bekas tambang, land, and the agricultural sector. dan sektor pertanian. "The government and power plant “Pemerintah dan pelaku usaha pembangkit business actors are committed to listrik berkomitmen untuk tetap melakukan continuing to manage FABA with pengelolaan FABA dengan prinsip ber- environmental principles, as evidenced by wawasan lingkungan, yang dibuktikan dengan the preparation of FABA Management penyusunan SOP Pengelolaan FABA yang SOPs referred to by all PLTUs," said Rida. diacu oleh seluruh PLTU,” kata Rida. Ridwan Jamaludin, Director General of Ridwan Jamaludin, Direktur Jendeal Mineral Mineral and Coal at the Ministry of ESDM, dan Batubara Kementerian ESDM, menam- added that the national policy on the use of bahkan bahwa secara nasional kebijakan coal is as energy by providing added value. pemanfaatan batubara adalah sebagai energi dengan memberikan nilai tambah. In the future, the results of coal ash waste or FABA will be increasingly used to Kedepannya, hasil limbah abu batubara atau become environmentally friendly products. FABA akan semakin dimanfaatkan menjadi produk-produk yang ramah lingkungan.

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This is proof that the government is trying Hal tersebut adalah bukti, bahwa peme- hard to utilize the added value from rintah sedang berusaha keras untuk me- burning coal into useful and environ- manfaatkan nilai tambah dari hasil pem- mentally friendly products. bakaran batubara menjadi produk yang bermanfaat dan ramah lingkungan. "The current policy in the legal use of coal is downstreaming or added value. We see “Kabijakan saat ini dalam pemanfaatan it as a change in governance, not just batubara secara hukum adalah hilirisasi atau nilai tambah, kami melihatnya sebagai changing from B3 waste, but what we see perubahan tata kelola, bukan sekedar is what it can be used for," said Ridwan. mengubah dari limbah B3 saja, namun yang Ridwan gave an example, FABA has the kita lihat adalah bisa digunakan untuk apa,” opportunity to be used as a raw material, ujar Ridwan. namely the use of special non-hazardous Ridwan memberi contoh, FABA memiliki waste such as coal fly ash from PLTU peluang untuk dimanfaatkan sebagai bahan activities with minimal boiler technology baku, yaitu pemanfaatan Limbah nonB3 Ciraiating Fluidized Bed (CFB) can be used khusus seperti fly ash batubara dari as a raw material for construction as a kegiatan PLTU dengan teknologi boiler substitute for pozzolan cement (explana- minimal Ciraiating Fluidized Bed (CFB) tion of article 459, PP 22/2021). The use of dapat dimanfaatkan sebagai bahan baku FABA as a roadbase can absorb 94% of the kontruksi pengganti semen pozzolan (pen- total coal ash (PT AMNT). FABA has the jelasan pasal 459, PP 22/2021). Peman- potential to be used as raw material for faatan FABA sebagai roadbase dapat making cast refractories, stockpiling in menyerap 94% dari total abu batubara (PT mine reclamation, lime substitution to AMNT). FABA berpotensi digunakan bahan baku pembuatan refraktori cor, penimbunan neutralize acid mine drainage, improving dalam reklamasi tambang, substitusi kapur soil physical conditions and planting media untuk menetralkan air asam tambang, for revegetation of ex-mining land memperbaiki kondisi fisik tanah dan media (Puslitbang Teknologi Mineral and Coal, tanam untuk revegetasi lahan bekas Ministry of ESDM). tambang (Puslitbang Teknologi Mineral dan For information, the Soil Research Institute Batubara, Kementerian ESDM). of the Ministry of Agriculture stated that Sebagai informasi, Balai Penelitian Tanah the FABA application can increase Kementerian Pertanian menyatakan, apli- fertilization efficiency and improve the kasi FABA dapat meningkatkan efisiensi root environment of plants. FABA can also pemupukan serta memperbaiki lingkungan be used as backfilling or overburden for perakaran tanaman. FABA juga dapat the prevention of acid mine drainage dimanfaatkan sebagai backfilling atau (mining companies). batuan penutup untuk pencegahan air asam tambang (perusahaan pertambangan). "LIPI, JICA and Hakko are working together to produce environmentally friendly “LIPI, JICA dan Hakko bekerja sama mem- concrete using FABA raw materials," said produksi beton ramah lingkungan meng- Ridwan. (RA) gunakan bahan baku FABA,” kata Ridwan. (RA)

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Guard the smelter construction Kawal rencana pembangunan plan in Bahodopi, said Vale smelter di Bahodopi, ini kata Indonesia (INCO) Vale Indonesia (INCO) Reporter: Muhammad Julian | Editor: Reporter: Muhammad Julian | Editor: Tendi Mahadi Tendi Mahadi

PT VALE Indonesia Tbk (INCO) is still PT VALE Indonesia Tbk (INCO) masih overseeing the realization of the final mengawal realisasi pengambilan kepu- investment decision (FID) for the down- tusan investasi final alias final investment stream ferronickel project in Bahodopi, decision (FID) untuk proyek hilir feronikel Central Sulawesi. di Bahodopi, Sulawesi Tengah. If things don't get in the way, INCO plans to Kalau tidak aral melintang, rencananya partner with a Chinese company to build a INCO bakal menggandeng perusahaan ferronickel smelter with a capacity of China untuk membangun smelter feronikel 72,000 tons in Bahodopi through a joint berkapasitas 72.000 ton di Bahodopi venture or joint venture after the FID and melalui sebuah perusahaan patungan other preparations are completed. atawa joint venture setelah FID dan persiapan-persiapan lainnya selesai nanti. INCO's Chief Financial Officer (CFO), Chief Financial Officer (CFO) INCO, Bernardus Irmanto, estimates that FID will Bernardus Irmanto memperkirakan, FID be ready by early next year. "We cannot akan siap pada awal tahun depan. “Kami disclose (who) the partner is, under the belum bisa disclose (siapa) partnernya, NDA (non disclosure agreement). After the under NDA (non disclosure agreement), FID can only be disclosed," said Bernardus Setelah FID baru bisa disclose,” ujar to Kontan.co.id, Monday (15/3). Bernardus kepada Kontan.co.id, Senin So far, it is not known exactly how much (15/3). investment will be required in the Sejauh ini, belum ketahuan berapa construction of the ferronickel smelter in persisnya investasi yang akan dibutuhkan Bahodopi. However, Bernardus estimates dalam pembangunan smelter feronikel di that the investment figure will be around Bahodopi. Namun, Bernardus memper- US$ 1.5 billion. kirakan angka investasinya akan berkisar US$ 1,5 miliar. This estimate is based on the average investment figure for a nickel smelter with Estimasi ini berdasar pada rata-rata angka investasi smelter nikel dengan teknologi RKEF (Rotary Kiln-Electric Furnace) RKEF (Rotary Kiln-Electric Furnace) ber- technology with a capacity of 72,000 tons, kapasitas 72.000 ton yang umumnya which is generally around US$ 1.5 billion. berkisar US$ 1,5 miliar. Meski begitu, Even so, the investment figure will angka investasi pastinya akan difinalisasi certainly be finalized later after the nanti setelah studi kelayakan atau feasibility study (FS) is completed. feasibility study (FS) rampung dilakukan.

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Because it is carried out by a joint venture, Lantaran dilakukan oleh perusahaan investment in the construction of a patungan, investasi pembangunan smelter ferronickel smelter in Bahodopi will be feronikel di Bahodopi akan masuk ke included in the bookkeeping budget of the dalam anggaran pembukuan perusahaan joint venture, not INCO's books. "The patungan yang dibentuk, bukan masuk di source of funds comes from equity and pembukuan INCO. “Sumber dana dari equity dan project financing,” imbuh project financing," added Bernardus. Bernardus. To supply energy needs for the ferronickel Untuk memasok kebutuhan energi smelter smelter in Bahodopi, INCO, through a joint feronikel di Bahodopi, INCO melalui venture with Chinese partners, also plans perusahaan patungan dengan mitra to build a gas power plant (PLTG) with a perusahaan China juga berencana capacity of 500 MW at the location. membangun pembangkit listrik tenaga gas (PLTG) berkapasitas 500 MW di lokasi Currently, INCO is overseeing the process tersebut. of request for information (RFI) and request for quotation to gather infor- Saat ini, pihak INCO tengah mengawal mation needed in the PLTG development proses request for information (RFI) dan plan. Even so, Bernardus emphasized that request for quotation untuk mengumpul- the decision to build a new PLTG will be kan informasi yang dibutuhkan dalam rencana pembangunan PLTG. Meski begitu, made later after the FID for the Bernardus menegaskan bahwa keputusan construction of a ferronickel smelter is pembangunan PLTG baru akan ditetapkan ready. nanti setelah FID pembangunan smelter Later, the PLTG construction work will be feronikel siap. carried out by the construction company. Nantinya, pengerjaan pembangunan PLTG The appointment can be through a tender akan dilakukan oleh perusahaan pelaksana process or direct appointment, depending pembangunan. Penunjukannya bisa on the decision of INCO and the partners melalui proses tender ataupun penunjukan later. langsung, bergantung kepada keputusan INCO dan mitra nantinya. "This is an integral part of the construction of the ferronickel smelter. So the decision “Ini menjadi bagian tidak terpisahkan dari to build a PLTG can only be taken after the pembangunan pabrik (smelter) feronikel. Jadi keputusan tentang pembangunan FID related to the construction of the PLTG hanya bisa diambil setelah FID Ferronickel plant has been taken," terkait pembangunan pabrik Feronikel explained Bernardus. diambil,” terang Bernardus.

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Good Performance, Antam Kinerja Ciamik, Antam (ANTM) (ANTM) Rely on Gold and Nickel Andalkan Bisnis Emas dan Nikel Business Author: Finna U. Ulfah Author: Finna U. Ulfah KONTRIBUSI pasar domestik menjadi THE CONTRIBUTION of the domestic penopang pertumbuhan kinerja PT Aneka market is the support for the growth of the Tambang Tbk. (ANTM) pada 2020. performance of PT Aneka Tambang Tbk. Komoditas yang menjadi andalan utama (ANTM) in 2020. The commodities that are pemasukan ANTM ialah emas dan nikel. the mainstay of ANTM's income are gold and nickel. SVP Corporate Secretary Aneka Tambang Kunto Hendrapawoko mengatakan bahwa SVP Corporate Secretary Aneka Tambang pada tahun lalu perseroan memfokuskan Kunto Hendrapawoko said that last year strategi untuk mengembangkan basis the company focused its strategy on pelanggan di dalam negeri, terutama developing a domestic customer base, pemasaran produk emas dan bijih nikel. especially marketing gold and nickel ore products. “Hal itu seiring dengan pertumbuhan tingkat penyerapan produk di dalam "This is in line with the growth in the negeri,” ujar Kunto, Senin (15/3/2021). absorption rate of domestic products," said Kunto, Monday (15/3/2021). Strategi itu pun tercermin dari pencapaian This strategy is also reflected in the penjualan perseroan pada 2020. Perseroan company's sales achievement in 2020. The mencetak pendapatan sebesar Rp27,37 company posted revenue of Rp27.37 triliun tahun lalu, turun 16,3 persen diban- trillion last year, down 16.3 percent dingkan dengan perolehan 2019 sebesar compared to 2019's acquisition of Rp 32.7 Rp32,7 triliun. trillion. Namun, sekitar 73 persen merupakan However, around 73 percent is the kontribusi pasar domestik sebesar contribution of the domestic market Rp19,92 triliun sedangkan sisanya atau amounting to Rp 19.92 trillion, while the sekitar 27 persen penjualan ekspor yang remaining or around 27 percent of export hanya sebesar Rp7,45 triliun. sales is only Rp 7.45 trillion. Adapun, perolehan penjualan domestik Meanwhile, domestic sales have grown tumbuh signifikan 68 persen dibandingkan significantly by 68 percent compared to dengan perolehan domestik 2019 sebesar 2019 domestic sales of Rp 11.86 trillion. Rp11,86 triliun. In more detail, sales for the nickel segment Lebih perinci, penjualan untuk segmen of the issuer coded for ANTM shares in the nikel emiten berkode saham ANTM itu di domestic market rose 93 percent to Rp1.8 pasar domestik naik 93 persen menjadi trillion and domestic gold sales rose 66.8 Rp1,8 triliun dan penjualan emas domestik percent to Rp17.79 trillion. naik 66,8 persen menjadi Rp17,79 triliun.

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The increase in domestic market share has Kenaikan porsi pasar domestik tersebut lah succeeded in helping ANTM to generate yang berhasil membantu ANTM mencetak profit growth despite the weak sales pertumbuhan laba kendati kinerja penjualan performance. melemah. Shipping and insurance expenses, export Pos beban pengapalan dan asuransi, biaya costs, and ore export taxes appear to have ekspor, dan pajak ekspor bijih tampak turun dropped significantly, making the company signifikan sehingga membuat perseroan succeed in reducing sales and marketing berhasil menekan beban penjualan dan expenses to only Rp.533.06 billion, pemasaran menjadi hanya sebesar Rp533,06 compared to the previous year's Rp1.4 miliar, dibandingkan dengan tahun sebelum- trillion. nya sebesar Rp1,4 triliun. Thus, ANTM posted a profit growth for the Dengan demikian, ANTM membukukan year attributable to the owners of the pertumbuhan laba tahun berjalan yang parent entity of Rp1.14 trillion, an increase dapat diatribusikan kepada pemilik entitas of 495 percent from the 2019 profit induk sebesar Rp1,14 triliun, melejit 495 position of only Rp193.8 billion. Editor: persen dari posisi laba 2019 yang hanya Hafiyyan sebesar Rp193,8 miliar. Editor : Hafiyyan

Residual Coal Ashes Save State Abu Sisa Batu Bara Bikin Hemat Pockets Rp4.3 T Kantong Negara Rp4,3 T

THE MINISTRY of ESDM said the decision KEMENTERIAN ESDM menyebut keputusan to issue Fly Ash and Bottom Ash (FABA) mengeluarkan Fly Ash dan Bottom Ash from the category of hazardous and toxic (FABA) dari kategori limbah bahan ber- waste (B3) would save the infrastructure bahaya dan beracun (B3) bakal menghemat development budget of Rp 4.3 trillion until anggaran pembangunan infrastruktur senilai 2028. Rp4,3 triliun hingga 2028 mendatang. Fly Ash is solid waste that is generated Fly Ash adalah limbah padat yang dihasilkan from the new burning of coal in power dari pembakaran baru bara pada pem- plants. Meanwhile, Bottom Ash is solid ash bangkit tenaga listrik. Sedangkan, Bottom that does not burn from coal or other Ash adalah abu padat yang tidak terbakar materials. dari batu bara atau material lain. ESDM Director General of Electricity Rida Direktur Jenderal Ketenagalistrikan ESDM Mulyana said the savings came from Rida Mulyana menyebut penghematan reusing FABA into concrete mixture. berasal dari pemanfaatan kembali FABA According to him, all this time, because it menjadi bahan campuran beton. Menurut was included in the dangerous category, dia, selama ini karena masuk dalam kategori FABA could not be recycled, it only became berbahaya, FABA tidak dapat didaur ulang a 'burden'. hanya menjadi 'beban'.

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In addition, utilization will also provide Selain itu, pemanfaatan juga akan memberi employment opportunities for 500 peluang kerja kepada 500 ribu tenaga kerja thousand workers of small and micro brick usaha kecil dan mikro batako dan paving and paving blocks. block. The calculation shows that the industry will Hitungannya, industri tersebut akan me- increase workers' income in total by Rp. ningkatkan pendapatan pekerja secara total 25.3 trillion in the next 10 years. senilai Rp25,3 triliun dalam 10 tahun men- "There are savings, when we are going to datang. build infrastructure we will save at least "Ada penghematannya, saat akan mem- Rp. 4.3 trillion. Data from Kadin friends in bangun infrastruktur paling tidak kita meng- 2020," he said at a press conference, hemat Rp4,3 triliun. Data dari teman-teman Monday (15/3). Kadin pada 2020," katanya pada konferensi Rida said the change in the status of coal pers, Senin (15/3). waste would turn the burden into a Rida menyebut perubahan status limbah blessing because it provides economic batu bara ini bakal mengubah beban men- value. jadi berkah karena memberi nilai ekonomis. However, he claims it does not mean that Namun, ia mengklaim bukan berarti peme- the government has not conducted an in- rintah tidak melakukan kajian mendalam. Ia depth study. He said that the laboratory menyebutkan uji laboratorium yang di- tests conducted by the government showed lakukan pemerintah menunjukkan bahwa that FABA did not meet the B3 criteria. FABA tidak memenuhi kriteria B3. To be categorized as B3 waste, there are a Untuk dapat dikategorikan sebagai limbah number of conditions that must be met, B3, ada sejumlah syarat yang harus di- namely flammable, explosive, reactive, penuhi, yakni limbah bersifat mudah corrosive waste, exceeding the Toxicity menyala, mudah meledak, reaktif, korosif, Characteristic Leaching Procedure (TCLP) melebihi parameter Toxicity Characteristic parameter, 16 heavy metal concentration Leaching Procedure (TCLP), 16 parameter parameters, and a 50-lethal dose. konsentrasi logam berat, dan lethal dose-50. Testing coal waste from PLTU activities in Pengujian limbah batu bara dari aktivitas the laboratory, he continued, did not meet PLTU di laboratorium, lanjut dia, tidak the quality standards stipulated in Govern- memenuhi baku mutu yang ditetapkan ment Regulation Number 101 of 2014 dalam PP Nomor 101 Tahun 2014 tentang concerning Hazardous Waste Management. Pengelolaan Limbah B3. Then, the lethal dose-50 test results in the Kemudian, hasil uji lethal dose-50 di 19 unit 19 PLTU units were also less than 5,000 PLTU itu juga kurang dari 5.000 miligram milligrams per kilogram of the body weight per kilogram berat badan hewan uji. of the tested animals. Selain itu, kajian Human Health Risk In addition, the Human Health Risk Assessment (HHRA) yang dilakukan PLTU Assessment (HHRA) study conducted by limbah batu bara juga tak melebihi the coal waste PLTU also did not exceed the parameter Toxicity Reference Value (TRV) Toxicity Reference Value (TRV) parameter yang ditetapkan Kementerian Ketenaga- set by the Ministry of Manpower, so it is kerjaan, sehingga dinilai tidak mem- considered not to endanger workers. bahayakan pekerja.

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Thus, the test results stated that all the Dengan demikian, hasil pengujian tersebut requirements for hazardous waste were menyatakan semua syarat limbah ber- not met, so that coal waste was removed bahaya tak terpenuhi, sehingga limbah from the B3 waste category. batu bara dihapus dari kategori limbah B3. "He conveyed that the FABA test is in "Disampaikan uji FABA sesuai dengan accordance with the toxic characteristics of karakteristik beracun TCLP, dan dengan LB TCLP, and with LB of 50 percent shows 50 persen menunjukkan bawah hasil uji that the results of the laboratory test have laboratoriumnya memiliki hasil uji pen- contamination test results lower than cemaran lebih rendah dari yang diper- required," he added. (wel/bir) syaratkan," imbuhnya. (wel/bir)

Antam Focuses on Building a Antam Fokus Bangun Smelter di Smelter in West Kalimantan This Kalbar Tahun Ini Year Aditya/iNews Aditya/iNews PT ANEKA Tambang Tbk (ANTM) terus PT ANEKA Tambang Tbk (ANTM) continues mengerjakan beberapa proyek pengem- to work on several business development bangan usaha. Adapun diantaranya adalah projects. Among them is the development of pengembangan hilirisasi komoditas yang downstream commodities carried out by the dilakukan Perseroan. Company. Sekretaris Perusahaan Antam, Kunto Antam's Corporate Secretary, Kunto Hendrapawoko menjelaskan, dalam pengem- Hendrapawoko explained, in developing the bangan hilirisasi komoditas bauksit, saat ini downstream commodity of bauxite, currently Perseroan terus berfokus dalam pem- the Company continues to focus on the bangunan pabrik Smelter Grade Alumina construction of the Smelter Grade Alumina Refinery (SGAR) di Mempawah, Kalimantan Refinery (SGAR) factory in Mempawah, Barat. West Kalimantan. "(Pabrik SGAR) dikembangkan bersama PT "(The SGAR factory) was developed together Indonesia Asahan Aluminium (Persero) with PT Indonesia Asahan Aluminum yang memiliki kapasitas pengolahan sebesar (Persero) which has a processing capacity of 1 juta ton SGAR per tahun (untuk tahap 1 million tonnes of SGAR per year (for phase satu)," ujar Kunto dikutip dari keterbukaan one)," said Kunto as quoted from the IDX informasi BEI, Selasa (16/3/2021). disclosure, Tuesday (16/3/2021). Dia menambahkan, Antam memiliki He added that Antam has more than five pengalaman lebih dari lima dekade dalam decades of experience in supporting the mendukung pengembangan hilirisasi development of downstream minerals in mineral di Indonesia, khususnya pada Indonesia, especially in nickel, gold and komoditas nikel, emas dan bauksit melalui bauxite through integrated mining operations. operasi pertambangan yang terintegrasi.

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"Until 2020, Antam's consolidated nickel "Hingga tahun 2020 tercatat posisi sumber and bauxite ore resources reached 1.44 daya bijih nikel dan bauksit konsolidasian billion wmt of nickel ore and 586 million Antam masing-masing mencapai sebesar wmt of bauxite ore," he said. 1,44 miliar wmt bijih nikel dan 586 juta wmt bijih bauksit," kata dia. Kunto said that the potential for mineral Kunto menyebut, potensi sumber daya resources is one of the strengths in the mineral tersebut menjadi salah satu development of the Company's business kekuatan dalam pengembangan skala bisnis scale through strategic mineral down- Perusahaan melalui hilirisasi mineral streaming in order to create added value strategis guna menciptakan nilai tambah for mineral products and increase positive produk mineral serta meningkatkan contributions to the state and society. kontribusi yang positif kepada negara dan masyarakat. In addition, this state-owned company is currently completing the construction Selain itu, saat ini perusahaan plat merah ini phase of a ferronickel plant construction juga tengah menyelesaikan tahap konstruksi project in East Halmahera, North Maluku, proyek pembangunan pabrik feronikel di which has an installed capacity of 13,500 Halmahera Timur, Maluku Utara yang memiliki kapasitas terpasang sebesar 13.500 TNi per year. (RAMA) TNi per tahun. (RAMA)

Timah prepares a strategy to Timah Siapkan Strategi untuk pay debts of Rp4.56 trillion Bayar Utang Rp 4,56 Triliun Farid Firdaus Farid Firdaus

PT TIMAH Tbk (TINS) is committed to PT TIMAH Tbk (TINS) berkomitmen paying off debts that will mature in the melunasi utang yang akan jatuh tempo next 12 months worth Rp 4.56 trillion. As dalam 12 bulan ke depan senilai Rp 4,56 one of the strategies to pay off the debt, the triliun. Adapun sebagai salah satu strategi company continues to explore shareholder melunasi utang tersebut, perseroan terus loans worth US$ 100 million to PT menjajaki shareholder loan senilai US$ 100 Indonesia Asahan Aluminum (Inalum) or juta kepada PT Indonesia Asahan Mining Industry Indonesia (MIND ID). Aluminium (Inalum) atau Mining Industry Indonesia (MIND ID). Until the end of 2020, Timah had total liabilities of Rp. 9.57 trillion, down 36.62% Hingga akhir 2020, Timah memiliki total liabilitas Rp 9,57 triliun, turun 36,62% compared to the end of 2019 of Rp. 15.1 dibandingkan akhir 2019 sebesar Rp 15,1 trillion. The total loans that will mature in triliun. Total pinjaman yang akan jatuh the next 12 months consist of short-term tempo dalam 12 bulan ke depan terdiri bank loans worth Rp 3.8 trillion and atas pinjaman bank jangka pendek senilai supplier financing liabilities worth Rp Rp 3,8 triliun dan liabilitas supplier 759.02 billion. financing senilai Rp 759,02 miliar.

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Timah's cash and cash equivalents were Adapun kas dan setara kas Timah tercatat recorded at only Rp. 807.30 billion at the hanya Rp 807,30 miliar pada akhir 2020, end of 2020, down 49.52% compared to turun 49,52% dibandingkan 2019 sebesar 2019, which amounted to Rp. 1.59 trillion. Rp 1,59 triliun. Di sisi lain, perseroan On the other hand, the company was able mampu memangkas beban keuangan 22,3% to cut its financial burden by 22.3 percent menjadi Rp 607,37 miliar pada tahun lalu to Rp 607.37 billion last year compared to dibanding tahun sebelumnya Rp 781,99 the previous year's Rp 781.99 billion. miliar. Investor Relations Timah Listi Witanni said Investor Relation Timah Listi Witanni the company's debt repayment strategy mengatakan, strategi pelunasan utang will come from tin revenue, namely perseroan akan bersumber dari pendapatan converting inventory to metal, so it can be timah, yakni mengubah inventory menjadi sold and generate cash for debt repayment. logam, sehingga bisa dijual dan menghasil- Furthermore, the source of funds is also kan cash untuk pelunasan utang. Selanjut- sought from tax refunds. Not to forget, the nya, sumber dana juga dicari dari restitusi company will continue its efficiency efforts. pajak. Tak lupa, perseroan melanjutkan "Timah certainly has a commitment to pay upaya-upaya efisiensi. off maturing debts, but we'll see it in the “Timah tentunya memiliki komitmen untuk future, depending on income. There are no melunasi utang jatuh tempo, tapi kita lihat new loans from banks, while those with ke depannya, tergantung dari pendapatan. MIND ID are still in process," he explained Pinjaman baru dari bank tidak ada, to Investor Daily, Monday (15/3). sementara yang dengan MIND ID masih Previously, Director of Finance Timah proses,” jelas dia kepada Investor Daily, Wibisono said that his party proposed a Senin (15/3). shareholder loan of US$ 100 million with Sebelumnya, Direktur Keungan Timah an interest target of less than 2.5% and a Wibisono mengatakan, pihaknya mengusul- loan tenor of around 1 year with a kan shareholder loan senilai US$ 100 juta renewable period. Exploration of these dengan target bunga di bawah 2,5% dan loans has been proposed since the fourth tenor pinjaman sekitar 1 tahun dengan quarter of 2020. periode yang dapat diperbaharui. Penjajak- The loan will be used to replace part of the an pinjaman tersebut telah diusulkan sejak working capital loan debt denominated in kuartal IV-2020. United States (US) to become a share- Pinjaman bakal dimanfaatkan untuk meng- holder loan. ganti sebagian utang kredit modal kerja This step is considered a natural hedge berdenominasi dolar Amerika Serikat (AS) strategy. So that when there is a high menjadi shareholder loan. Langkah ini fluctuation in the exchange rate, it is hoped dinilai sebagai strategi natural hedge. that the impact will not be so great to the Sehingga ketika ada gejolak yang tinggi profit and loss position. pada nilai tukar, maka imbasnya diharapkan tidak begitu besar ke posisi laba dan rugi. During 2020, the Covid-19 pandemic Selama 2020, pandemi Covid-19 yang which triggered a decline in commodity prices caused Timah's income to fall by memicu penurunan harga komoditas 21.33% to Rp 15.21 trillion, compared to membuat pendapatan Timah turun 21,33% 2019 of Rp 19.34 trillion. However,... menjadi Rp 15,21 triliun, dibanding 2019 sebesar Rp 19,34 triliun. Namun,...

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However, the company managed to reduce Namun, perseroan berhasil mengurangi its net loss by 44.28 percent to Rp 340.59 rugi bersih 44,28% menjadi Rp 340,59 billion, from the previous Rp 611.28 miliar, dari sebelumnya Rp 611,28 miliar. billion. Ekspansi Expansion Sebelumnya, Direktur Utama Timah Mochtar Previously, Timah President Director Riza Pahlevi optimistis, pembangunan Top Mochtar Riza Pahlevi was optimistic that Submerged Lance (TSL) Ausmelt Furnace the construction of the Top Submerged bisa rampung akhir 2021, dan akan Lance (TSL) Ausmelt Furnace could be completed by the end of 2021, and will be dilakukan commissioning pada awal 2022. commissioned in early 2022. As of March Per Maret 2021, proses pembangunan TSL 2021, the TSL Ausmelt Furnace cons- Ausmelt Furnace telah mencapai 44%. truction process has reached 44%. This Progress ini melebih target awal yang progress exceeded the initial planned direncanakan yakni 40%. target of 40%. Seperti diketahui, pengerjaan proyek TSL As is known, the construction of the TSL Ausmelt Furnace yang melibatkan PT Ausmelt Furnace project, which involved Wijaya Karya Tbk (WIKA) Tbk dan Outotec PT Wijaya Karya Tbk (WIKA) Tbk and Pty Ltd ini, dibangun di kawasan Unit Outotec Pty Ltd, was built in the Muntok Metalurgi Muntok, Bangka Barat, Metallurgical Unit area, West Bangka, Kepulauan Bangka Belitung. “Progres Bangka Belitung Islands. "The progress of proyek TSL Ausmlet Furnance sudah 44% the TSL Ausmlet Furnance project has sampai dengan Februari, ini melebihi dari reached 44% by February, this is more rencana 40%. Melihat kondisi ini, kita than the 40% planned. Seeing this optimistis commissioning bisa dilak- condition, we are optimistic that commissioning can be carried out in January sanakan pada bulan Januari 2022,” kata 2022,"said Riza in an official statement Riza dalam keterangan resmi, baru-baru recently. ini. Based on the initial plan, said Riza, the Berdasarkan rencana awal, kata Riza, smelter project is targeted for completion proyek smelter ini ditargetkan selesai pada in January 2022. However, looking at the Januari 2022. Namun, melihat progres di progress in the field, his party is optimistic lapangan, pihaknya optimistis, proyek that the Rp 1.2 trillion project can be senilai Rp 1,2 triliun ini bisa rampung completed by the end of 2021. "Based on akhir tahun 2021. “Kalau berdasarkan the contract, this joint project with Wika kontrak, proyek bersama Wika ini ber- will take place. for 24 months, starting in langsung selama 24 bulan, yang dimulai January 2020. However, in accordance Januari 2020. Namun, sesuai dengan with this progress, we are optimistic that progres ini, kami optimistis di Desember in December 2021 it can be completed,” he 2021 bisa selesai,” tambah dia. added. Sembari menyiapkan infrastruktur, While preparing the infrastructure, according to Riza, the company has also menurut Riza, perseroan juga mulai begun to collect reliable human resources mengumpulkan sumber daya manuia andal who will be trained for one year to operate yang akan dilatih selama satu tahun untuk the TSL Ausmelt Furnace. mengoperasikan TSL Ausmelt Furnace.

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TSL technology is a new chapter of Teknologi TSL ini merupakan babak baru technological transformation in tin transformasi teknologi dalam pengolahan processing. The use of ausmelt technology timah. Penggunaan teknologi ausmelt is believed to reduce production costs. diyakini dapat menekan biaya produksi. The TSL is considered to have many TSL tersebut dinilai memilki banyak advantages, including efficiency in the cost keunggulan, di antaranya efisiensi biaya of production, better smelting process and pokok produksi, proses peleburan lebuh shorter time so that it has higher capacity, baik dan waktu lebih singkat sehingga ease of operation, and Ausmelt's TSL kapasitas lebih tinggi, kemudahan dalam technology is more environmentally pengoperasian, dan teknologi TSL Ausmelt lebih ramah lingkungan. Editor : Elly friendly. Editor: Elly Rahmawati Rahmawati

Winter Is Passing, Coal Even Musim Dingin Bakal Berlalu, Approaching US$90 Batu Bara Malah Dekati US$90 Tirta Citradi, CNBC Indonesia Tirta Citradi, CNBC Indonesia

THE ICE Newcastle thermal coal price is HARGA batu bara termal ICE Newcastle kian getting closer to US$ 90/ton. The black mendekati US$ 90/ton. Harga si batu hitam stone price closed up 0.51% to US$ ditutup menguat 0,51% ke US$ 88,2/ton pada 88.2/ton in yesterday's trading. This is the perdagangan kemarin. Ini merupakan harga highest price in the last month. tertinggi dalam satu bulan terakhir. The volatility of coal contract prices on the Volatilitas harga kontrak batu bara di bursa futures exchange is indeed high in 2021. berjangka memang tinggi di tahun 2021. Hal ini This is in line with the global financial senada dengan pasar keuangan global yang juga market which is also moving with sharp bergerak dengan fluktuasi yang tajam. fluctuations. Kenaikan harga batu bara dipicu oleh The increase in coal prices was triggered beberapa sentimen mulai dari prospek by several sentiments ranging from better ekonomi yang lebih baik karena ada vaksin economic prospects due to the Covid-19 Covid-19, prospek commodity supercycle vaccine, the prospect of a commodity hingga aksi spekulasi para pelaku pasar yang supercycle to speculation by market mencari aset untuk lindung nilai dari players looking for assets to hedge against ekspektasi inflasi yang tinggi. high inflation expectations. Harga batu bara juga turut terkerek naik Coal prices also rose in line with China's seiring dengan kinerja ekonomi China yang impressive economic performance. impresif. Apalagi bertepatan dengan musim Moreover, it coincided with winter. But dingin. Namun kini musim dingin akan segera now winter is coming to an end. Coal can berakhir. Batu bara bisa kehilangan salah satu lose one of the positive sentiments that will sentimen positif yang memicu kenaikan trigger an increase in its price. harganya.

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Marcin Gorski, Refinitiv Weather Analyst, Marcin Gorski, Analis Cuaca Refinitiv, mem- predicts warm conditions will dominate perkirakan kondisi hangat akan men- mainland China in the next 10-14. The dominasi dataran China dalam 10-14 ke temperature is estimated to be 5-10 depan. Suhu udara diperkirakan 5-10 degrees Celsius above normal in the derajat celcius di atas normal di wilayah northern region of China. utara China. As a result, China's coal imports began to Akibatnya, impor batu bara China mulai decrease in line with the decreasing need berkurang seiring penurunan kebutuhan for heating due to friendly weather. In penghangat ruangan karena cuaca yang February 2021, China's imports were mulai bersahabat. Pada Februari 2021, recorded at 19.62 million tons and March impor China tercatat 19,62 juta ton dan 2021 until the end of this week at 14.82 Maret 2021 hingga akhir pekan ini ada di million tons. 14,82 juta ton. The passing of winter has also caused Mulai berlalunya musim dingin juga China's local coal prices to drop. The membuat harga batu bara lokal China benchmark price for thermal coal, melorot. Harga batu bara termal acuan Qinhuangdao, is now approaching RMB Negeri Tirai Bambu yakni Qinhuangdao kini 600/ton. Whereas previously during the sudah mendekati RMB 600/ton. Padahal Chinese New Year and winter the price had sebelumnya saat Imlek dan musim dingin jumped above RMB 900/ton. harganya sempat melonjak ke atas RMB 900/ton. Warming weather has also occurred in major coal consuming countries. In India, Cuaca yang menghangat juga terjadi di the temperature is estimated to be 2-4 negara konsumen batu bara utama. Di India, degrees Celsius above normal. suhu udara diperkirakan 2-4 derajat celcius di atas normal. Meanwhile, in South Korea and Japan, the temperature is estimated to be 2-4 degrees Sementara di Korea Selatan dan Jepang, Celsius above normal, even under certain suhu udara diperkirakan 2-4 derajat celcius conditions it can be 4-8 degrees Celsius di atas normal, bahkan dalam kondisi above normal for the next 6-10 days. tertentu bisa 4-8 derajat celcius di atas normal selama 6-10 hari ke depan. As one of the coal exporting countries, the potential decline in demand is certainly not Sebagai salah satu negara eksportir batu encouraging news. Indonesia's mineral fuel bara, potensi penurunan permintaan tentu- exports increased by US$ 92.3 million in nya bukanlah sebuah kabar yang meng- February. gembirakan. Ekspor bahan bakar mineral RI mengalami kenaikan sebesar US$ 92,3 juta The sharp increase in coal prices was able pada Februari lalu. to offset the decline in export volume in the same month. The Central Bureau of Kenaikan harga batu bara yang tajam Statistics (BPS) recorded that the export mampu mengimbangi penurunan volume volume of Indonesian mineral fuels was ekspor di bulan yang sama. Badan Pusat 34.2 million tons in February, or a drop of Statistik (BPS) mencatat volume ekspor 11% compared to January which reached bahan bakar mineral RI sebesar 34,2 juta ton di bulan Februari atau drop 11% di- 38.5 million tons. CNBC INDONESIA RESEARCH TEAM (twg/twg) banding bulan Januari yang mencapai 38,5 juta ton. TIM RISET CNBC INDONESIA (twg/twg)

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Timah (TINS) Boosts Premium Timah (TINS) Pacu Bisnis Batu Coal Business Bara Premium Author: Finna U. Ulfah Author: Finna U. Ulfah

THE STATE-owned mining company, PT EMITEN BUMN pertambangan, PT Timah Timah Tbk., Will raise the contribution of Tbk., bakal mengerek kontribusi segmen the coal business segment as an effort to bisnis batu bara sebagai salah satu upaya spur its performance this year. memacu kinerjanya tahun ini. Finance Director Timah Wibisono said that Direktur Keuangan Timah Wibisono the company, through one of its business mengatakan bahwa perseroan melalui entities, PT Tanjung Alam Jaya, will salah satu entitas usahanya PT Tanjung increase the level of coal production in Alam Jaya akan meningkatkan tingkat 2021 to around 500,000 tons to 750,000 produksi batu bara pada 2021 menjadi tons. sekitar 500.000 ton hingga 750.000 ton. For information, the coal mining products Untuk diketahui, hasil tambang batu bara owned by the issuer coded TINS shares milik emiten berkode saham TINS itu contain calories of 6,200 kcal, or this mengandung kalori sebesar 6.200 kcal, includes high-calorie coal. The increase in atau termasuk batu bara berkalori tinggi. production volume is also in line with the Kenaikan volume produksi tersebut pun strengthening trend in global coal prices seiring dengan tren penguatan harga batu since the end of 2020. bara global sejak akhir 2020. At the close of trading Monday (15/3/ Pada penutupan perdagangan Senin 2021) the price of Newcastle coal for the (15/3/2021) harga batu bara Newcastle April 2021 contract at the ICE was parked untuk kontrak April 2021 di bursa ICE at US$ 88.2 per ton, up 0.51 percent. parkir di level US$88,2 per ton, naik 0,51 During the current year 2021, coal prices persen. Sepanjang tahun berjalan 2021, will increase by 8.69 percent. harga batu bara naik 8,69 persen. "We hope that the [coal business segment] “Kami harapkan nantinya [segmen bisnis will contribute significantly to the overall batu bara] dapat berkontribusi signifikan performance of PT Timah," said Wibisono, terhadap keseluruhan kinerja PT Timah,” Monday (15/3/2021). ujar Wibisono, Senin (15/3/2021). Meanwhile, in 2020 TINS recorded Adapun, pada 2020 TINS mencatatkan revenue of IDR 15.21 trillion, down 21.33 pendapatan sebesar Rp15,21 triliun, turun percent compared to 2019's acquisition of 21,33 persen dibandingkan dengan per- Rp 19.34 trillion. olehan 2019 sebesar Rp19,34 triliun. Almost all revenue segments experienced a Hampir seluruh segmen pendapatan meng- decline in performance, but the coal alami penurunan kinerja, tetapi segmen segment managed to score quite impres- batu bara berhasil mencetak kinerja cukup sive performance. Total coal revenue rose impresif. Total pendapatan batu bara naik 213 percent to Rp122.06 billion. 213 persen menjadi Rp122,06 miliar.

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Over the past year, the majority of the Sepanjang tahun lalu, penjualan batu bara company's coal sales were exported to perseroan mayoritas diekspor dengan destination countries, including China, negara tujuan antara lain China, Vietnam, Vietnam and the Philippines. dan Filipina. On the other hand, Wibisono admitted that Di sisi lain, Wibisono mengaku bahwa the company's business diversification into diversifikasi bisnis perseroan ke tambang coal mining had been approved by the batu bara tersebut telah mendapatkan Ministry of BUMN. persetujuan oleh Kementerian BUMN. He explained that the coal mine which is Dia menjelaskan tambang batu bara yang located in South Kalimantan has been terletak di Kalimantan Selatan tersebut owned by Timah since early 2000. Editor: telah dimiliki Timah sejak awal 2000. Hafiyyan Editor : Hafiyyan

Nickel Prices on the LME Harga Nikel di Bursa LME Exchange Freefall in March 2021 Terjun Bebas pada Maret 2021 Author: Annisa Octavianie, Editor: Faris Penulis : Annisa Octavianie, Editor : Faris Primayudha Primayudha

NICKEL has become the prima donna in NIKEL menjadi primadona dalam dunia the Indonesian mining world in the last pertambangan Indonesia dalam beberapa few years. Based on geological agency kurun wakatua terakhir. Berdasarkan data mapping data, Indonesia has abundant pemetaan badan geologi, Indonesia memiliki nickel ore resources. A total of 11,887 sumberdaya bijih nikel yang cukup million tonnes and 4,346 million tonnes of melimpah. Sebanyak 11.887 juta ton dan nickel reserves are entrenched in cadangan bijih sebesar 4.346 juta ton nikel Indonesia. bercokol di Indonesia. Meanwhile, the total metal resources Sementara untuk total sumberdaya logam reached 174 million tons and 68 million mencapai 174 juta ton dan 68 juta ton tons of metal reserves. With a large nickel cadangan logam. Dengan area sebaran nikel distribution area, Indonesia is one of the yang luas, Indonesia menjadi salah satu largest nickel producers in the world, produsen nikel terbesar di dunia dengan contributing 27% of total production. Now menyumbang 27 % dari total produksi. Kini nikel tidak hanya pamornya saja yang melejit nickel is not only a skyrocketing prestige melainkan harganya sebagai komoditas yang but its price as a commodity that can mampu membuat pasaran tercengang. amaze the market. Pada beberapa pekan lalu harga nikel In the past few weeks, nickel prices have terpantau kembali membaik. Namun harga been on the mend. However, the nickel nikel pada perdagangan bulan maret 2021 price in March 2021 (9/3) fell 1.2%. ini (9/3) melemah 1.2%.

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The 3-month contract nickel price based Besaran harga nikel kontrak 3 bulan on the London Metal Exchange (LME) berdasarkan survei London Metal Exchange survey ended at US$ 15,951/ton from the (LME) di akhiri dengan harga US$ 15.951/ton price of US$ 16,145/ton (a 1.2% decline). dari harga US$ 16.145/ton (Kemerosotan This price is observed to have dropped the sebesar 1.2 %). Harga tersebut terpantau yang most throughout 2021. An inevitable paling anjlok sepanjang tahun 2021 ini. decline occurred in direct purchase nickel Penurunan pula tidak dapat dihindari terjadi from the price of US$ 16,115/ton to US$ pada nikel pembelian langsung dari harga US$ 15,907/ton, indicating a decline of 1.29%. 16.115/ton menjadi US$ 15.907/ton, hal ini It was also noted that in March 2020 the menunjukkan kemerosotan sebesar 1,29 %. price of nickel also fell. The decline Tercatat pula pada Maret tahun 2020 harga nikel juga sempat terjun bebas. Kemerosotan occurred to the price of US$ 11,142/ton. terjadi hingga di harga US$ 11.142/ton. However, in the following month, nickel Namun bulan berikutnya harga nikel perlahan prices slowly recovered to reach a peak of pulih hingga menyentuh puncaknya sebesar US$ 19,722/ton. US$ 19.722/ton. Based on the monitoring of the Shanghai Berdasarkan pantauan bursa Shanghai, stock exchange, nickel price (10/3) also harga nikel (10/3) juga mengalami experienced a 1.8% decline, starting from kemerosotan sebesar 1.8% terhitung dari US$ 18,891/ton to US$ 18,550/ton. Quoted US$ 18.891/ton menjadi US$ 18.550/ton. from Reuters, the cause of the plunge in Dikutip dari Reuters, penyebab terjunnya nickel prices was because the Tsingshan harga nikel adalah karena Tsingshan Holding Holding Group, a giant nickel and stainless Group, perusahaan raksasa nikel dan steel company from China, decided to stainless stell asal China memutuskan untuk produce a large enough nickel matte in memproduksi nikel matte dalam jumlah Indonesia to reduce investors' concerns yang cukup besar di Indonesia untuk about the trade distribution supply of menurunkan kekhawatiran investor ter- nickel for batteries and to reduce nickel hadap suplai distribusi perdagaangan nikel prices. on the market. untuk keperluan baterai dan menekan harga Reporting from The Sydney Morning nikel di pasaran. Herald quoted by Reuters. Credit Sussie, a Dilansir dari The Sydney Morning Herald Swiss bank and financial service provider, yang dikutip dari Reuters. Credit Sussie, predicts that there will be an excess supply bank dan penyedia jasa keuangan asal Swiss of nickel after Tsingshan announced that it memperkirakan akan terjadi kelebihan will increase production by 700 kilo tons pasokan nikel setelah Tsingshan meng- to 1.1 million tons per year by 2023. Of umumkan untuk meningkatkan produksi course this will result in excess production sebesar 700 kilo ton menjadi 1.1 juta ton per until 2025. tahun per 2023. Tentunya ini akan meng- According to analysts Credit Suisse, akibatkan ekses (kelebihan) produksi hingga Matthew Hope. "While some of the nickel tahun 2025. Menurut analis Credit Suisse, will be supplied to the battery market via Matthew Hope. “Walaupun sebagian nikel the nickel matte route, ferronickel for akan dipasok ke pasar baterai melalui jalur stainless steel will remain dominant until nikel matte, feronikel untuk baja tahan karat the battery market becomes a significant akan tetap dominan sampai pasar baterai consumer in the second half of the menjadi konsumen yang signifikan pada decade." paruh kedua dekade ini.”

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Silkroad to supply 2.7 mln T Indonesian nickel ore to China's Tsingshan

SILKROAD Nickel said on Monday it would supply Chinese stainless steel giant Tsingshan Holding Group with 2.7 million tonnes of high-grade nickel ore in Indonesia by the end of 2022, marking its second major customer win this year. Singapore-listed Silkroad, which mines ore on the Indonesian island of Sulawesi, said in a filing it had inked a contract with Tsingshan unit PT Ekasa Yad Resources worth more than $90 million at current prices and would deliver at least 50,000 tonnes per month from March 2021 to December 2022. Tsingshan uses nickel ore to make stainless steel raw material nickel pig iron (NPI) in Indonesia and is also pursuing projects to make nickel chemicals for use in electric vehicle batteries in the country, including on Sulawesi. Indonesia, the world's biggest nickel ore miner, banned exports of the material from January 2020 as it looks to process more resources at home. Silkroad Chief Executive Hong Kah Ing said his company is "preparing to deliver its first shipment (to Tsingshan) within the next two weeks and expects to gradually increase its production from April 2021 onwards to fulfill the new offtake commitments." "The nickel ore is expected to be used to meet the increasing demand from the emerging electric vehicle battery industry," he added in the filing. Silkroad, which in January signed a 10-year agreement to sell nickel ore to Ganfeng Lithium , one of the world's top lithium producers, intends to use some of the proceeds from the Tsingshan deal to build a rotary kiln electric furnace (RKEF) smelter to make NPI, Hong said. (Reporting by Tom Daly; Editing by Kirsten Donovan)

Metso Outotec introduces Planet Positive Published by Will Owen, Deputy Editor

METSO Outotec has introduced a new all-encompassing approach to sustainability: ‘Planet Positive’. Covering the environmental, social and financial aspects of sustainability, Planet Positive efforts enforce the company’s purpose to enable sustainable modern life. To serve customers’ sustainability needs and to increase the size of its ecological handprint, Metso Outotec is focused on further growing its sustainable offering. The Planet Positive portfolio focuses on the most environmentally efficient technologies (>100) in the company’s current portfolio, responding to the sustainability requirements of its customers in the aggregates, mining, and metals refining industries. The customer requirements relate to energy or water efficiency, reduction of emissions, circularity, and safety.

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Correspondingly, Metso Outotec is focused on minimising the environmental impact of its own operations and supply chain to diminish its ecological footprint. “We have a wide Planet Positive offering available for our customers, and with strong R&D focus we continue to strengthen our sustainable offering for the aggregates, mining, and metals refining industries. We also have high targets for sustainability in our own operations and supply chain. There is a growing demand in our industry for environmentally efficient solutions,” says Piia Karhu, SVP, Business Development at Metso Outotec.

China’s copper imports likely to rise, may not be bullish signal: Russell Reuters

CHINA’s imports of copper are likely to rebound in March, but the expected increase after a disappointing start to the year may not be quite as bullish as it appears at first glance. A range of factors, including port congestion, issues loading at major producer Chile and an ongoing unofficial boycott of imports from Australia, led to China’s imports of both unwrought copper, and ores and concentrates failing to set the heather on fire in the first two months of the year. The first two months of 2021 saw unwrought copper imports of 884,009 tonnes, up 4.65% from the same period in 2020, according to data from China’s customs bureau. Since 2020 it hasn’t provided separate figures for January and February, possibly to smooth out the volatility around the Lunar New Year holidays. To be sure, a 4.65% increase doesn’t sound too shabby. But it’s worth noting that China’s copper imports have been on a downward trend in recent months, something apparently at odds with the ongoing rebound in the world’s second-biggest economy amid stimulus measures. What’s more, a closer look at unwrought copper imports on a tonnes per day basis shows the January-February imports are 14,980 tonnes – down from 16,530 tonnes in December and 18,710 tonnes in November. Imports of copper ores and concentrates were 3.79 million tonnes in the January-February period. That’s equivalent to about 64,000 tonnes per day and up marginally from the 62,600 tonnes from the same period last year. The first two months of the year were also slightly higher than the 61,000 tonnes per tonne recorded in both December and November. But again, the increase was nowhere near enough to be described as bullish. It’s likely that problems with securing supply were largely behind the drop in imports of copper ores and concentrates, especially in the light of the ongoing dispute with Australia – formerly China’s fifth biggest supplier of the industrial metal.

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China’s imports of Australian copper concentrates dropped to zero in December. That’s the first time in 16 years no arrivals were recorded, and down from 110,930 tonnes in the previous December, according to the latest available official figures. Similar to China’s ban on Australian coal, it will take the market some time to adjust to the new dynamic. Australia is selling to other copper-smelting nations, such as Japan and South Korea, while China attempts to diversify its supply sources. This will likely see China’s imports of ores and concentrates recover over time. But there is still a question over imports of unwrought copper, which include refined metal rods and other products. While March and April arrivals will likely be solid, this is probably more of a catch-up after the soft-ish start to the year, rather than any inherently bullish signal. Mixed outlook There are certainly still reasons to be optimistic on China’s copper demand, but much will depend on how long and how large Beijing’s ongoing economic stimulus goes as China recovers from the coronavirus pandemic. An official target of 6% economic growth does sound fairly bullish. However, there are also signs that Beijing is becoming cautious about too much borrowing to fund the traditionally copper-intensive construction and infrastructure sectors. There are also a few bearish factors on copper’s horizon in China. Stocks in warehouses monitored by the Shanghai Futures Exchange rose for a sixth consecutive week to 171,794 tonnes in the week to March 12 – the highest level in six months.

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While Chinese smelters have been boosting output, the rising price of the metal has eroded margins, with research consultancy Antaike saying on March 11 the spot treatment charges for copper concentrate dropped to $35.50 a tonne last week, the lowest in a decade. The global benchmark copper price in London hit a 9-1/2 year high of $9,617 a tonne in February, but has since lost some ground to end at $9,085 on March 12. High global copper prices may act as a drag on Chinese demand, especially if the arbitrage window between international and domestic prices isn’t high enough to attract speculative investments and imports into China, as is currently the case. Overall, China may not be the strong bullish case for copper in 2021 that it was in 2020. That leaves the market having to decide whether stimulus spending in the rest of the world will be enough to sustain the case for higher prices. Of course, copper price expectations can be shifted quickly by unexpected supply disruptions, but if supply is largely as forecast, the bullish case probably lies outside China this year. (By Clyde Russell; Editing by Kenneth Maxwell)

Vale, Anglo American underline ESG issues as copper demand soars By: Reuters

GLOBAL miners such as Brazil's Vale, Anglo American and Chile's Codelco said they expect demand for copper to strengthen in coming years on growing demand for environmentally friendly cars, while the mining industry reckons with questions about its own sustainability. Mining executives said during a webinar about copper on Friday that higher demand for the metal was an opportunity for the industry to improve its image by adopting more socially- conscious practices. "The society will not tolerate the way we operated before," said Ruben Fernandes, base metals CEO for Anglo American, adding the industry now had an opportunity to build alliances with governments and populations to improve its image. Two Vale SA dam bursts in a four-year period killed hundreds of people and caused extensive environmental damage in Brazil's Minas Gerais state, drawing attention to issues of safety and risk. Elsewhere, the industry is grappling with pollution, deforestation and labor disputes. Fernandes said it remained unclear whether copper was entering a new "super cycle" as the metal reached the highest prices in almost a decade in London this week. Mark Travers, Vale's base metals director, said the company's copper projects had synergies with its iron ore operations, with shared infrastructure. Travers said the higher demand for copper was an "opportunity to do the right thing and work with local communities", adopting sustainable practices.

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Vale CEO Eduardo Bartolomeo recently said the company had a bullish outlook for the metal and intended to accelerate copper projects in the Carajas region, in the state of Para, where Vale has its largest iron ore mines. Later, in a separate session, Juan Benevides, chairman of Chile's Codelco, the world's largest copper producer, said he expected demand for copper to keep rising over the next three to four years.

Condor Gold accelerates La India development with Metso Outotec SAG mill acquisition Posted by Daniel Gleeson

CONDOR Gold has entered into an agreement to purchase a completely new Metso Outotec SAG mill package from First Majestic Silver to serve its La India project in Nicaragua. The purchase consideration is around $6.5 million – made up of cash and shares – with the SAG mill representing a key item of the plant required to bring La India into production, Condor said. The SAG mill is estimated by Metso Outotec’s technical support group to have a 2,300 t/d (800,000 t/y) throughput on a sustained basis, based on the metallurgical characteristics of the ore and mineralised material at La India. Based on internal technical studies and mining dilution studies conducted by SRK Consulting, initial production at La India is expected to be 80,000-100,000 oz/y of gold. Condor says the SAG mill and parts are 90% ready to be shipped. The 2,300 t/d capacity forms “Stage 1 of production”, with capacity to be expanded materially after two to three years of production. Its delivery reduces the order time of this key long lead item by 12 months, fast tracking La India project into production. Condor said there is the possibility of increasing throughput by 22% to 2,850 t/d by installing a 4,100 kW motor (currently a 3,330 kW motor). Mark Child, Chairman and CEO, said: “The key message is Condor has purchased and sized the mill at 2,300 t/d, significantly shortened the mill delivery time, set a trajectory for detailed project design and an accelerated path to production. What’s more, Condor has acquired a state-of-the-art, complete new SAG mill package with warrantees, manufactured and supplied by Metso Outotec, the premier manufacturer of grinding mills and entire grinding systems for the global mining industry.” Condor plans to commence gold production at La India in 24 months. The SAG mill agreement has come about as First Majestic ordered a complete new SAG mill package, which, Condor says, is now superfluous to its requirements.

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The SAG mill has a mill diameter of 24 ft (7.3 m) and an effective grinding length of 18.5 ft and a structural charge mass of 315 t, Condor Gold said. The structural design ball charge is 11% with a structural design load volume of 35%. Specific gravity of the material is 2.55. The structural steel liner mass is 240 t; however, with the use of lighter composite liners, the weight and corresponding power requirement can be reduced significantly to 120 t. The complete SAG mill package manufactured and supplied by Metso Outotec includes:  Mill shell fabricated in 8 x 90° segments;  Mill heads cast in 4 x 90° segments with demountable trunnions;  Ductile ring gear and carbonized pinion shaft;  Pinion shaft assembly equipment;  Erection cradles;  Bracket, coupling and guard;  Pinion bearings-2-pad polymer hydrostatic bearings;  Transformer for the mill;  Gear unit, steel guard and fasteners;  Allen Bradley variable speed drive;  Allen Bradley PLC mill local panel;  3,300 kW WEG SCIM (motor);  Bearing housing;  Torque limiter and hubs;  Complete feed assembly. ‘Rock box’ feed chute with replaceable steel wear liners;  Complete discharge assembly. Fabricated discharge cone (no trommel screen) with replaceable rubber wear liners;  Discharge trunnion liner with replaceable rubber wear liners;  Installation materials and some spares;  Trunnion bearing;  Hydraulic torque wrench kit;  Liner handler; and  Howard Marten lubrication systems (trunnion oil lube, reducer/pinion oil lube, gear spray grease lube).

It is assumed that a pebble crusher will be used in the comminution circuit to provide some additional grinding power and to manage critical size fraction material, Condor said. The SAG mill is equipped with a variable speed drive to allow the mill to operate between 1,500 t/d and 2,300 t/d. Furthermore, it is possible to increase the daily throughput by increasing the motor size, as previously indicated. The 22% boost in throughput could potentially allow gold production to increase by a similar amount, the company said.

The SRK 2017 Technical Report on La India outlined an overall process flowsheet based on a single stage SAG comminution and conventional carbon-in-leach circuit.

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Report: Asian electricity projects could drive coal to $1.5T global market by 2025 By rodw

CHINESE, Indian and Anglo companies will lead the way as a global coal market grows at a double-digit rate this year, according to a new report. ResearchandMarkets had delivered a report forecasting that the global coal, lignite and anthracite market will grow from $1.03 trillion to $1.15 trillion in 2021. This 12 percent growth projection is mainly due to companies and operations emerging and recovering from the COVID-19 pandemic, the report’s summary says. Major players in this sector include Coal India Ltd., ShenHua Group, BHP Billiton, China Coal Energy Co. and Anglo American plc. ResearchandMarkets’ report noted that Asia Pacific accounted for 80 percent of market in 2020, while North America represented 7 percent of the coal, lignite and anthracite markets. Another recent report by environmental advocates Urgewald and partners indicated that global coal project financing still totals about $1 trillion, despite political pressures in developed countries. The pressing need for electricity in less economically developed nations is spurring the renewed vitality of coal-fired investment, according to reports. India’s significant coal mining operations should continue to feed its power generation sector, where coal-fired power represents more than 60 percent of the electricity resources. Coal-fired power plants emit far more carbon and other air pollutants and are more expensive than gas-fired and renewable facilities, according to reports. Coal is responsible for more than 70 percent of carbon dioxide emissions in the power generation industry, the report summary says. Even so, some growth in coal, lignite and anthracite is expected for the next five years as the recovery from COVID-19 restrictions hopefully continues. The market should reach nearly $1.5 trillion by 2025, according to ResearchandMarkets. Coal-fired power still generates close to 20 percent of electricity capacity in the U.S. despite hundreds of plant closings in the past decade. The local percentage of the U.S. generation mix, however, likely will continue to decline as utilities embrace lower carbon resources such as wind, solar and natural gas.

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