IMA-Daily Update Page 1

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Sure it will be granted, Arutmin hopes that the PKP2B extension to become an IUPK will be issued at the end of August Yakin dikabulkan, Arutmin berharap perpanjangan PKP2B jadi IUPK terbit akhir Agustus Indo Tambangraya Megah (ITMG) net profit fell 57.80% in the first half of 2020 Laba bersih Indo Tambangraya Megah (ITMG) turun 57,80% di semester I-2020 MDKA Raising Gold Production, Analysts Also Raise Its Stock Target MDKA Kerek Produksi Emas, Analis Turut Kerek Target Sahamnya The miners association complained about the nickel ore selling price that did not match HPM Asosiasi penambang keluhkan harga jual bijih nikel yang tak sesuai HPM Gold Drops, Stock Prices of MDKA, ANTM & UNTR Collapse Emas Nyungsep, Harga Saham MDKA, ANTM & UNTR Runtuh The government forms a nickel HPM Implementing Task Force, this is AP3I's response Pemerintah bentuk Satgas Pelaksana HPM nikel, begini tanggapan AP3I Sinar Mas Coal Company Consider Cutting Production Perusahaan Batu Bara Sinar Mas Pertimbangkan Pangkas Produksi Utilization of Residual Tailings from Mine Processing Pemanfaatan Tailing Sisa Hasil Pengolahan Tambang Oops! Coal Prices Drop Again, Weakest Since May Duh! Harga Batu Bara Ambles Lagi, Terlemah Sejak Mei COVID-19 turns Indonesian ore export ban into curse for nickel market: S&P

Kontan Kontan Bisnis Kontan CNBC Indonesia Kontan Bisnis Dunia Tambang CNBC Indonesia Mining Journal

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CIMIC’s Thiess awarded mining services contract Stainless surge revives nickel, but surplus still looms Australian thermal coal exports to remain competitive: Aurizon NT boosts local mining exploration Demand for metallurgical coal to be the worst affected in 2020: Poll US 2020 coal production to fall 28.8% on year to 57-year low: EIA

Global Mining Review Mining.com S&P Global Platts Australian Mining Mining Technology S&P Global Platts

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IMA-Daily Update Page 3

Sure it will be granted, Arutmin hopes that the PKP2B extension

to become an IUPK will be issued at the end of August

Reporter: Filemon Agung | Editor: Herlina Kartika Dewi

PT ARUTMIN Indonesia hopes to immediately receive certainty regarding the extension of the Coal Mining Exploitation Work Agreement (PKP2B), so that it can change its status to a Special Mining Business License (IUPK).

General Manager of Legal & External Affairs of PT Arutmin Indonesia Ezra Sibarani said that currently the evaluation is still being carried out by the Directorate General of Mineral and Coal (Ditgen of Minerba) of the Ministry of ESDM.

According to Ezra, Arutmin hopes that he will be able to obtain a permit extension by the end of this August.

"Evaluation is still ongoing, we are still discussing some technical data because there are many and quite detailed. We hope that at the end of this month it will be confirmed," Ezra said when contacted by Kontan.co.id, Tuesday (11/8).

He is sure that this subsidiary of PT Bumi Resources Tbk (BUMI) can get an extension and change its status to IUPK. Ezra said that the extension was guaranteed in Article 169 A of Law Number 3 of 2020 or the new Minerba Law.

Arutmin is ready to provide higher state revenue when it is converted into IUPK. "It has been guaranteed by Article 169 A, in essence there must be an increase in state revenue," Ezra said.

Yakin dikabulkan, Arutmin berharap perpanjangan PKP2B jadi IUPK terbit akhir Agustus Reporter: Filemon Agung | Editor: Herlina

Kartika Dewi

PT ARUTMIN Indonesia berharap segera mendapat kepastian terkait perpanjangan Perjanjian Karya Pengusahaan Pertam-bangan Batubara (PKP2B), sehingga bisa berubah status menjadi Izin Usaha Pertambangan Khusus (IUPK).

General Manager Legal & External Affairs PT Arutmin Indonesia Ezra Sibarani meng-ungkapkan, saat ini evaluasi masih dilaku-kan oleh Direktorat Jenderal Mineral dan Batubara (Ditjen Minerba) Kementerian ESDM.

Menurut Ezra, Arutmin berharap sudah bisa mendapatkan perpanjangan izin pada akhir Agustus ini.

"Evaluasi masih berlangsung, beberapa data teknis masih kita diskusikan karena banyak dan cukup detail. Kita berharap di akhir bulan ini mendapatkan kepastian," ujar Ezra saat dihubungi Kontan.co.id, Selasa (11/8).

Dia yakin anak usaha PT Bumi Resources Tbk (BUMI) ini bisa mendapatkan per-panjangan dan berubah status menjadi IUPK. Ezra mengatakan, perpanjangan itu sudah dijamin pada Pasal 169 A Undang-Undang Nomor 3 Tahun 2020 atau UU Minerba yang baru.

Arutmin siap untuk memberikan penda-patan negara yang lebih tinggi saat nantinya berubah menjadi IUPK. "Sudah dijamin oleh Pasal 169 A, intinya harus ada peningkatan penerimaan negara," sebut Ezra.

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Arutmin is indeed the first generation PKP2B whose contract will end in the near future. A coal company that has a mine of 57,107 hectares will expire on November 1, 2020.

Referring to Kontan.co.id's records, Arutmin signed a PKP2B on November 2, 1981, and began operating on November 2, 1990, then continued for 30 years.

On November 14, 2017, Arutmin and the government signed an adjustment to the Coal Cooperation Agreement (CCA) in accordance with the provisions of the Mineral and Coal Law (Minerba Law) in effect at that time. Arutmin submitted a permit extension to the Ministry of ESDM on October 24, 2019.

The Arutmin mine is located in Satui, Senakin, Batulicin, and Asam-Asam, South Kalimantan. Referring to data from the Joint Ore Reserves Committee (JORC) March 2018, Arutmin's coal reserves reached 213 million tons and had resources of 1.66 billion tons.

Arutmin memang menjadi PKP2B generasi pertama yang kontraknya akan berakhir dalam waktu dekat ini. Perusahaan batubara yang memiliki tambang seluas 57.107 ha akan habis kontrak pada 1 November 2020.

Merujuk pada catatan Kontan.co.id, Arutmin menandatangani PKP2B pada 2 November 1981, dan mulai beroperasi pada 2 Novem-ber 1990, lalu berlanjut selama 30 tahun.

Pada 14 November 2017, Arutmin dan pemerintah menandatangani penyesuaian Coal Cooperation Agreement (CCA) sesuai ketentuan Undang-Undang Mineral dan Batubara (UU Minerba) yang berlaku saat itu. Arutmin mengajukan perpanjangan izin kepada Kementerian ESDM pada 24 Oktober 2019.

Tambang Arutmin berlokasi di Satui, Senakin, Batulicin, dan Asam -asam, Kalimantan Selatan. Merujuk data dari Joint Ore Reserves Commite (JORC) Maret 2018, cadangan batubara Arutmin mencapai 213 juta ton dan memiliki sumber daya sebesar 1,66 miliar ton.

Indo Tambangraya Megah (ITMG) net profit fell 57.80% in

the first half of 2020 Reporter: Dimas Andi | Editor: Yudho

Winarto

THE COAL mining company PT Indo Tambangraya Megah Tbk (ITMG) posted net income of US$ 652.62 million in the first half of 2020. This number decreased by 26.89% (yoy) compared to the company's net income in the first half of 2019 of US$ 892.70 million.

Laba bersih Indo Tambangraya Megah (ITMG) turun 57,80% di

semester I-2020 Reporter: Dimas Andi | Editor: Yudho

Winarto

PERUSAHAAN tambang batubara PT Indo Tambangraya Megah Tbk (ITMG) mem-bukukan pendapatan bersih sebesar US$ 652,62 juta di semester I-2020. Jumlah ini turun 26,89% (yoy) dibandingkan nilai pendapatan bersih perusahaan di semester I-2019 sebesar US$ 892,70 juta.

IMA-Daily Update Page 5

This result was also followed by a decrease in ITMG's cost of revenue by 23.50% (yoy) from US$ 730.30 million in the first semester of 2019 to US$ 558.63 million in the first semester of 2020.

ITMG suffered a foreign exchange loss of US$ 4.84 million in the first semester of 2020. In fact, this company had earned a foreign exchange gain of US$ 1.91 million in the first half of 2019.

ITMG's net profit also shrank by 57.80% (yoy) to US$ 29.80 million in the first half of 2020. Meanwhile, in the first semester of 2019, this issuer earned a net profit of US$ 70.82 million.

Most of ITMG's net income in the first half of 2020 came from coal sales to third parties amounting to US$ 589.31 million, while coal sales to related parties were at the level of US$ 28.82 million.

ITMG also recorded net income from the fuel business to third parties of US$ 33.05 million. The company also posted service fees to third parties of US$ 1.44 million.

In terms of the marketing area, the majority of ITMG coal sales in the first half of 2020 were still directed to Southeast Asia (except Indonesia), India and Pakistan amounting to US$ 219.49 million.

In addition, ITMG sold coal to Taiwan, China, Hong Kong and Korea for US$ 167.70 million, and Japan for US$ 125.91 million.

Meanwhile, ITMG coal sales in the domestic market were recorded at US$ 135.91 million.

ITMG's total liabilities in the first half of 2020 reached US$ 366.84 million, an increase of 13.02% compared to the company's total liabilities at the end of 2019 of US$ 324.57 million.

Hasil ini diikuti pula dengan penurunan beban pokok pendapatan ITMG sebesar 23,50% (yoy) dari US$ 730,30 juta di semester I-2019 menjadi US$ 558,63 juta di semester I-2020.

ITMG mengalami kerugian selisih kurs sebesar US$ 4,84 juta di semester I-2020. Padahal, perusahaan ini sempat meraih keuntungan selisih kurs sebanyak US$ 1,91 juta di semester I-2019.

Laba bersih ITMG pun menyusut sebesar 57,80% (yoy) menjadi US$ 29,80 juta di semester I-2020. Sedangkan pada semester I-2019, emiten ini meraup laba bersih sebesar US$ 70,82 juta.

Sebagian besar pendapatan bersih ITMG di semester I-2020 berasal dari penjualan batubara ke pihak ketiga sebesar US$ 589,31 juta, sementara penjualan batubara ke pihak berelasi berada di level US$ 28,82 juta.

ITMG juga mencatatkan pendapatan bersih dari bisnis bahan bakar ke pihak ketiga sebesar US$ 33,05 juta. Perusahaan ini juga mencetak pendapatan jasa ke pihak ketiga sebesar US$ 1,44 juta.

Dari sisi wilayah pemasaran, mayoritas penjualan batubara ITMG di semester I-2020 masih ditujukan ke Asia Tenggara (kecuali Indonesia), India, dan Pakistan sebesar US$ 219,49 juta.

Selain itu, ITMG menjual batubara ke Taiwan, China, Hongkong, dan Korea sebanyak US$ 167,70 juta, serta Jepang sebanyak US$ 125,91 juta.

Adapun penjualan batubara ITMG di pasar domestik tercatat sebesar US$ 135,91 juta.

Total liabilitas ITMG di semester I-2020 mencapai US$ 366,84 juta atau meningkat 13,02% dibandingkan total liabilitas per-usahaan di akhir tahun 2019 sebesar US$ 324,57 juta.

IMA-Daily Update Page 6

The total equity owned by ITMG as of the first semester of 2020 is US$ 861.82 million. This figure is down 2.55% compared to the company's equity at the end of 2019 of US$ 884.46 million.

As of semester I-2020, ITMG has total assets of US$ 1.22 billion, an increase of 1.66% compared to total assets at the end of 2019 of US$ 1.20 billion.

Jumlah ekuitas yang dimiliki ITMG hingga semester I-2020 adalah sebesar US$ 861,82 juta. Angka ini turun 2,55% dibandingkan ekuitas perusahaan di akhir tahun 2019 sebesar US$ 884,46 juta.

Per semester I-2020, ITMG memiliki jumlah aset sebanyak US$ 1,22 miliar atau naik 1,66% dibandingkan jumlah aset di akhir tahun 2019 sebesar US$ 1,20 miliar.

MDKA Raising Gold Production, Analysts Also Raise Its Stock

Target Finna U. Ulfah

ONE securities increased the target price for PT Merdeka Copper Gold Tbk. (MDKA) along with the shiny gold price.

At the close of trading Tuesday (11/8/ 2020), MDKA's shares fell 3.28 percent or 65 points to Rp1,915, after moving in the range of Rp1,875-Rp1,970.

However, throughout the current year MDKA shares have strengthened 78.79 percent. Its market capitalization reaches Rp 41.93 trillion.

RHB Sekuritas Analyst Team assesses that MDKA's performance will be even greater this year along with the increase in gold prices. Every one percent increase in gold price will increase the company's revenue by at least 2.1 percent.

By combining the increase in production and higher gold prices in semester II/2020, RHB Sekuritas also increased the estimated selling price of MDKA gold this year to around US$ 1,700 per troy ounce which will support the company's margins in the year.

MDKA Kerek Produksi Emas, Analis Turut Kerek Target

Sahamnya Finna U. Ulfah

SATU sekuritas menaikkan target harga saham PT Merdeka Copper Gold Tbk. (MDKA) seiring dengan mengilapnya harga emas.

Pada penutupan perdagangan Selasa (11/8/2020), saham MDKA turun 3,28 persen atau 65 poin menjadi Rp1.915, setelah bergerak di rentang Rp1.875 - Rp1.970.

Namun demikian, sepanjang tahun berjalan saham MDKA sudah menguat 78,79 persen. Kapitalisasi pasarnya mencapai Rp41,93 triliun.

Tim Analis RHB Sekuritas menilai kinerja MDKA akan semakin moncer pada tahun ini seiring dengan kenaikan harga emas. Setiap kenaikan satu persen harga emas akan menaikkan pendapatan perseroan setidaknya 2,1 persen.

Dengan menggabungkan kenaikan produksi dan harga emas yang lebih tinggi pada semester II/2020, RHB Sekuritas juga me-ningkatkan estimasi harga jual emas MDKA pada tahun ini sekitar US$1.700 per troy ounce yang akan mendukung margin perseroan pada tahun.

IMA-Daily Update Page 7

"Therefore, we raised the MDKA price target to Rp2,500 from the previous Rp2,050," RHB Sekuritas wrote, as quoted in his research publication, Tuesday (11/8/2020).

On the other hand, citing PT Merdeka Copper Gold Tbk .'s quarterly report, the company plans to increase its production guidelines to 175,000 to 195,000 ounces in line with the increase in gold prices.

Previously, the company targeted production of 165,000 to 185,000 ounces this year.

Meanwhile, during the first semester of 2020, the issuer coded as MDKA shares has produced 108,823 ounces of gold, with an all-in sustaining cost (AISC) of US$ 648 per ounce and a production cost of US$ 408 per ounce.

The total production achievement was up 2 percent compared to 110,545 ounces in semester I/2019. Editor: Hafiyyan

“Oleh karena itu, kami menaikkan target harga MDKA menjadi Rp2.500 dari sebelum-nya Rp2.050,” tulis RHB Sekuritas seperti dikutip dari publikasi risetnya, Selasa (11/8/ 2020).

Di sisi lain, mengutip laporan kuartalan PT Merdeka Copper Gold Tbk., perseroan beren-cana untuk menaikkan panduan produksi menjadi sebesar 175.000 hingga 195.000 ounces seiring dengan kenaikan harga emas.

Sebelumnya perseroan menargetkan produksi sebesar 165.000 hingga 185.000 ounces pada tahun ini.

Adapun, sepanjang semester I/2020 emiten berkode saham MDKA itu telah mempro-duksi emas sebesar 108.823 ounce, dengan biaya pendukung atau all-in sustaining cost (AISC) sebesar US$648 per ounces dan biaya produksi sebesar US$408 per ounces.

Capaian total produksi itu naik 2 persen dibandingkan dengan 110.545 ounces pada semester I/2019. Editor : Hafiyyan

The miners association complained about the nickel ore selling price

that did not match HPM Reporter: Dimas Andi | Editor: Herlina Kartika

Dewi

THE NICKEL industry trade system in Indonesia still causes problems. This is because the miners are still complaining about the nickel ore selling price which is not in accordance with the Mineral Reference Price (HPM).

Secretary General of the Indonesian Nickel Miners Association (APNI) Meidy Katrin Lengkey said that the miners have objected to the fact that local smelters still do not accept nickel ore prices according to the applicable HPM.

Asosiasi penambang keluhkan harga jual bijih nikel yang tak

sesuai HPM Reporter: Dimas Andi | Editor: Herlina Kartika

Dewi

TATA niaga industri nikel di Indonesia masih

menimbulkan masalah. Pasalnya, pihak penambang masih mengeluhkan harga jual bijih nikel yang tidak sesuai dengan Harga Patokan Mineral (HPM).

Sekretaris Jenderal Asosiasi Penambang Nikel Indonesia (APNI) Meidy Katrin Lengkey mengatakan, para penambang sampai saat ini merasa keberatan karena perusahaan smelter lokal tetap tidak menerima harga bijih nikel sesuai HPM yang berlaku.

IMA-Daily Update Page 8

"On the other hand, we as miners pay taxes according to HPM," she said, Tuesday (11/8).

In fact, the formation of the HPM formula is based on a mutual agreement between miners, smelter owners, the Ministry of Energy and Mineral Resources (ESDM), to the Coordinating Ministry for Maritime Affairs and Investment (Marves).

This is in accordance with the results of the coordination meeting at the Coordinating Ministry for Marves on March 11, 2020. This agreement is also contained in the Ministerial Regulation (Permen) ESDM No.11 of 2020.

Meidy said, his party again discussed the problem of implementing the HPM formula with the Coordinating Ministry for Marves. He also admitted that the government formed a task force (task force) to oversee the sale and purchase of nickel ore between miners and smelter owners.

APNI positively welcomes the formation of the task force with the hope that the sale and purchase of nickel ore that is in accordance with HPM can be carried out consistently. "HPM is certain to be implemented, because the smelter export license will be revoked if the purchase of nickel ore does not match HPM," said Meidy.

Quoting previous news, the discourse on establishing a task force to supervise nickel ore transactions was once expressed by the Director of Mineral Development and Business of the Ministry of ESDM, Yunus Saefulhak. He stated that the task force consists of the Ministry of ESDM, the Ministry of Industry and the Investment Coordinating Board (BKPM).

Yunus targets that the formation of the supervisory task force can be realized in August. From the results of the task force's supervision,...

“Di sisi lain, kami selaku penambang mem-bayar pajak sesuai HPM,” katanya, Selasa (11/8).

Padahal, pembentukan formula HPM ber-dasarkan kesepakatan bersama antara penambang, pemilik smelter, Kementerian Energi dan Sumber Daya Mineral (ESDM), hingga Kemenko Maritim dan Investasi (Marves).

Hal ini sesuai dengan hasil rapat koor-

dinasi di Kemenko Marves pada 11 Maret 2020 lalu. Kesepakatan ini pun tertuang dalam Peraturan Menteri (Permen) ESDM Nomor 11 Tahun 2020.

Meidy menyebut, pihaknya kembali mem-bahas masalah implementasi formula HPM dengan Kemenko Marves. Ia juga mengaku, pemerintah membentuk satuan tugas (satgas) untuk mengawasi transaksi jual-

beli bijih nikel antara penambang dan pemilik smelter.

APNI menyambut positif pembentukan satgas tersebut dengan harapan transaksi jual-beli bijih nikel yang sesuai HPM dapat terlaksana secara konsisten. “Pasti HPM

bisa terlaksana, karena smelter akan di-cabut izin ekspornya jika pembelian bijih nikel tidak sesuai HPM,” tandas Meidy.

Mengutip berita sebelumnya, wacana pem-

bentukan satgas pengawas transaksi bijih nikel pernah diutarakan oleh Direktur Pembinaan dan Pengusahaan Mineral Kementerian ESDM Yunus Saefulhak. Dia menyatakan, satgas tersebut terdiri dari pihak Kementerian ESDM, Kementerian Perindustrian, dan Badan Koordinasi Penanaman Modal (BKPM).

Yunus menargetkan, pembentukan satgas pengawas tersebut bisa terwujud di bulan Agustus. Dari hasil pengawasan satgas

ini,...

IMA-Daily Update Page 9

From the results of the task force's supervision, he emphasized that the government will impose sanctions on parties who violate the terms of the sale and purchase of nickel ore according to the HPM.

In addition, based on data from the Ministry of ESDM, per semester I-2020, the national nickel ore production reached 15.85 million tons. Of this amount, 13.19 million tons or around 83.21% of production in the first semester was absorbed in the domestic market.

Dari hasil pengawasan satgas ini, ia menegaskan bahwa pemerintah akan memberikan sanksi kepada pihak yang melanggar ketentuan transaksi jual-beli bijih nikel sesuai HPM.

Sebagai tambahan, berdasarkan data Kementerian ESDM, per semester I-2020, produksi bijih nikel nasional mencapai 15,85 juta ton. Dari jumlah tersebut, 13,19 juta ton atau sekitar 83,21% produksi di semester pertama sudah terserap di pasar dalam negeri.

Gold Drops, Stock Prices of MDKA, ANTM & UNTR Collapse

Tri Putra, CNBC Indonesia

WORLD gold prices in trading this morning, Wednesday (12/8/2020), continued the correction trend of more than 1% due to massive profit taking in response to signs of revival in the United States (US) economy. Profit-taking got even more crazy after Russia announced it had discovered a coronavirus vaccine.

Launching Refinitiv data, the world gold price corrected 1.46% to a level of US$ 1,887.10/troy ounce, again breaking through its psychological level of 1,900/ troy ounce after last night, the price of gold fell 4.3% to US$ 1,939.37/troy ounce on the spot market.

This level is the lowest since July 30. When viewed from the all-time high of US$ 2,072.49/troy ounce this precious metal fell 8.9%.

The record high was reached on Friday last week, but on that day the decline in gold began. The reason is the slick US labor data.

Emas Nyungsep, Harga Saham MDKA, ANTM & UNTR Runtuh

Tri Putra, CNBC Indonesia

HARGA emas dunia pada perdagangan pagi ini, Rabu (12/8/2020), melanjutkan tren koreksi lebih dari 1% akibat aksi ambil untung (profit taking) masif merespon tanda-tanda bangkitnya perekonomian Amerika Serikat (AS). Profit taking semakin menggila setelah Rusia mengumumkan telah menemukan vaksin virus corona.

Melansir data Refinitiv harga emas dunia terkoreksi 1,46% ke level US$ 1.887,10/troy ons kembali jebol melewati level psikologis-nya 1.900/troy ons setelah kemarin malam, harga emas ambrol 4,3% ke US$ 1.939,37/ troy ons di pasar spot.

Level tersebut merupakan yang terendah sejak 30 Juli. Jika dilihat dari rekor tertinggi sepanjang masa US$ 2.072,49/troy ons logam mulia ini merosot 8,9%.

Rekor tertinggi tersebut dicapai pada hari Jumat pekan lalu, tetapi di hari itu penurunan emas dimulai. Penyebabnya data tenaga kerja AS yang apik.

IMA-Daily Update Page 10

The US Department of Labor today reported the unemployment rate in July fell sharply to 10.2% from 11.1% previously. In addition, over the past month, the US economy again absorbed workers outside the agricultural sector, known as non-farm payrolls, totaling 1.763 million people, more than the forecast at Forex Factory of 1.53 million.

In addition, the President of the United States (US) Donald Trump signed four executive orders on Saturday (8/8/2020) local time or Sunday (9/8/2020) WIB. One of the four executive orders contains direct assistance to the unemployed of US$ 400 per week.

The US$ 400 per week aid will certainly increase the purchasing power of US citizens, which again has the potential to have a significant impact on GDP.

The improvement in the labor market and Trump's direct assistance policy made hopes that the US economy would immediately revive, and the attractiveness of gold as a safe haven has diminished, triggering profit taking.

Profit-taking became increasingly frenetic after local Russian media reported that Russian President Vladimir Putin announced that his government had approved the world's first coronavirus vaccine.

Practically the decline in gold prices has an impact on the shares of companies engaged in the gold sector that are listed on the Indonesia Stock Exchange (IDX).

Issuer % Change

MDKA -6.27%

UNTR -5.25%

PSAB -3.82%

ANTM -3.75%

SQMI -1.08%

Departemen Tenaga Kerja AS hari ini me-laporkan tingkat pengangguran di bulan Juli turun tajam menjadi 10,2% dari sebelumnya 11,1%. Selain itu, sepanjang bulan lalu, perekonomian AS kembali menyerap tenaga kerja di luar sektor pertanian, yang dikenal dengan istilah non-farm payrolls, sebanyak 1,763 juta orang, lebih banyak ketimbang prediksi di Forex Factory sebesar 1,53 juta.

Selain itu Presiden Amerika Serikat (AS) Donald Trump menandatangani empat perintah eksekutif pada Sabtu (8/8/2020) waktu setempat atau Minggu (9/8/2020) WIB. Salah satu dari empat perintah eksekutif itu berisi bantuan langsung kepada pengangguran senilai US$ 400 per pekan.

Bantuan senilai US$ 400 per pekan tersebut tentunya akan meningkatkan daya beli warga AS, yang lagi-lagi berpotensi mem-berikan dampak signifikan ke PDB.

Membaiknya pasar tenaga kerja serta kebijakan bantuan langsung dari Trump membuat harapan perekonomian AS akan segara bangkit, daya tarik emas sebagai aset aman (safe haven) menjadi luntur sehingga memicu aksi profit taking.

Aksi profit taking kian menggila setelah media lokal Rusia memberitakan bahwa Presiden Rusia Vladimir Putin mengumum-kan bahwa pemerintahannya telah memberi persetujuan vaksin virus corona yang pertama di dunia.

Praktis penurunan harga emas ini berimbas pada saham-saham perusahaan yang ber-gerak di sektor emas yang melantai di Bursa Efek Indonesia (BEI).

Emiten % Change

MDKA -6,27%

UNTR -5,25%

PSAB -3,82%

ANTM -3,75%

SQMI -1,08%

IMA-Daily Update Page 11

Observed the price of stocks moving in the gold sector fell this morning, even some stocks had dropped to the Lower Auto Reject (ARB) level or approached the ARB.

Today's decline in gold stocks was led by PT Merdeka Copper Gold Tbk (MDKA) whose price was corrected 6.27% to the level of Rp 1,795/unit. In fact, this morning MDKA fell by 6.79% to touch the ARB level. Foreign investors themselves made net selling in MDKA of Rp. 12 billion in the regular market.

In second place is PT United Tractors Tbk (UNTR), which corrected 5.25% after falling to near its ARB level. Foreign investors also conducted a massive net sale of Rp 9 billion in these shares. It is known that UNTR also has a gold sector business unit through its subsidiary Agincourt Resources.

Meanwhile, PT Wilton Makmur Indonesia Tbk (SQMI) recorded the smallest decrease, which 'only' corrected 1.08% to a leve of Rp 184/unit. (trp/hps)

Terpantau harga saham-saham yang ber-gerak di sektor emas bertumbangan pada pagi hari ini, bahkan berberapa saham sempat turun ke level Auto Reject Bawah (ARB) atau mendekati ARB.

Penurunan saham emas hari ini dipimpin oleh PT Merdeka Copper Gold Tbk (MDKA) yang harganya terkoreksi 6,27% ke level Rp 1.795/unit. Bahkan pagi tadi MDKA sempat turun 6,79% menyentuh level ARB. Investor asing sendiri melakukan aksi jual bersih di MDKA sebanyak Rp 12 miliar di pasar reguler.

Di posisi kedua terdapat PT United Tractors Tbk (UNTR) yang terkoreksi 5,25% setelah sempat turun mendekati level ARB-nya. Investor asing juga melakukan aksi jual bersih yang cukup masif di saham ini sebesar Rp 9 miliar. Diketahui UNTR juga memiliki unit bisnis sektor emas melalui anak usaha-nya Agincourt Resources.

Sedangkan penurunan paling tipis di-bukukan oleh PT Wilton Makmur Indonesia Tbk (SQMI) yang 'hanya' terkoreksi 1,08% ke leve Rp 184/unit. (trp/hps)

The government forms a nickel HPM Implementing Task Force,

this is AP3I's response Reporter: Dimas Andi | Editor: Herlina

Kartika Dewi

THE ASSOCIATION of Indonesian Processing and Refining Companies (AP3I) delivered a response to the establishment of a task force for the implementation of Permen ESDM No.11 of 2020 which also regulates the trade system and domestic nickel prices which must refer to the Mineral Reference Price (HPM).

Pemerintah bentuk Satgas Pelaksana HPM nikel, begini

tanggapan AP3I Reporter: Dimas Andi | Editor: Herlina

Kartika Dewi

ASOSIASI Perusahaan Pengolahan dan Pemurnian Indonesia (AP3I) menyampai-kan tanggapan atas dibentuknya satuan tugas (satgas) pelaksanaan Permen ESDM Nomor 11 Tahun 2020 yang di dalamnya turut mengatur tata niaga dan harga nikel domestik yang harus mengacu pada Harga Patokan Mineral (HPM).

IMA-Daily Update Page 12

AP3I Chairperson Prihadi Santoso stated that basically all nickel mining businesses, smelting-refiners and the government should unite their visions to increase the downstream capability of nickel minerals. This is expected to be able to boost the acquisition of Non-Tax State Revenue (PNBP).

AP3I also believes that 13.19 million

tonnes of nickel ore from the total national nickel ore production of 15.85 million tonnes in the first half of 2020 should be absorbed gradually by domestic smelters.

"The state must be present to be a fair referee in formulating the HPM formula that bridges 291 mining entrepreneurs with 59 smelters," he said, Tuesday (11/8).

AP3I said that the HPM implementation task force must maintain the principles of

Good Mining Practice and environmental sustainability together with mining entrepreneurs. In addition, the task force must maintain Indonesia's competitive advantage on a sustainable basis.

This is so that the anti-dumping threat of the World Trade Organization (WTO) can be prevented because the supply and demand chain mechanisms and domestic nickel prices are quite transparent.

Prihadi added, AP3I wanted ESDM

Regulation (Permen) No. 11 of 2020, which is about 3 months old, is not only a matter of polemic in the mass media. Hence, the HPM implementing task force must be able to work quickly in making an inventory of the nickel trading system problem by gathering the miners and smelter owners.

The hope is that the Permen will be more perfect and right on target after the evaluation in the first 6 months since this

regulation was issued.

Ketua Umum AP3I Prihadi Santoso menya-takan, pada dasarnya seluruh pelaku usaha tambang nikel, pelaku usaha peleburan-pemurnian, beserta pemerintah patut menyatukan visi untuk meningkatkan ke-mampuan hilirisasi mineral nikel. Hal ini di-harapkan mampu mendongkrak perolehan Pendapatan Negara Bukan Pajak (PNBP).

AP3I juga percaya bahwa 13,19 juta ton bijih nikel dari total produksi bijih nikel nasional sebanyak 15,85 juta ton di semester I-2020 harus benar-benar ter-serap secara bertahap oleh smelter di dalam negeri.

"Negara harus hadir untuk menjadi wasit yang adil dalam merumuskan formula HPM yang menjembatani 291 pengusaha tambang dengan 59 Smelter nanti bila sudah jadi semua," ungkap dia, Selasa (11/8).

Pihak AP3I menyebut, satgas pelaksana HPM harus menjaga prinsip Good Mining Practice dan kelestarian lingkungan ber-sama dengan pengusaha tambang. Selain itu, satgas mesti menjaga keuntungan kompe-titif Indonesia secara berkesinambungan.

Hal ini supaya ancaman anti dumping World Trade Organization (WTO) dapat ditangkal karena mekanisme rantai permintaan dan penawaran serta harga nikel di dalam negeri cukup transparan.

Prihadi menambahkan, AP3I menginginkan agar Permen ESDM No. 11 Tahun 2020 yang sudah berusia sekitar 3 bulan tidak hanya menjadi bahan polemik di media massa. Makanya, satgas pelaksana HPM harus bisa bekerja cepar dalam menginventarisasikan masalah tata niaga nikel dengan mengum-pulkan para penambang dan pemilik smelter.

Harapannya, Permen tersebut sudah lebih sempurna dan tepat sasaran usai evaluasi di 6 bulan pertama sejak beleid ini terbit.

IMA-Daily Update Page 13

Previously, the Director of Mineral Development and Business of the Ministry of ESDM, Yunus Saefulhak, said that the government would form a task force to oversee the sale and purchase of nickel ore from miners to smelter owners in order to comply with the applicable HPM.

The government will be firm in imposing sanctions on parties if they are proven to have violated the terms of the transaction according to the HPM.

Sebelumnya, Direktur Pembinaan dan Pengusahaan Mineral Kementerian ESDM Yunus Saefulhak mengatakan, pemerintah akan membentuk satgas yang mengawasi transaksi jual-beli bijih nikel dari penam-bang kepada pemilik smelter agar sesuai HPM yang berlaku.

Pemerintah bakal tegas dalam memberi-kan sanksi kepada pihak-pihak apabila terbukti melanggar ketentuan transaksi sesuai HPM.

Sinar Mas Coal Company Consider Cutting Production

Finna U. Ulfah

SINAR Mas Group coal mining company,

PT Golden Energy Mines Tbk., Maintains its 2020 production plan. However, the company will adjust to market demand.

President Director of Golden Energy Mines Bonifasius said the company would still maintain the production guidelines that were set at the beginning of this year even though coal prices were still on a down-ward trend.

For information, based on Bloomberg data, on Monday (10/8/2020) trading, the price of Newcastle coal for the most active parking contract was at US$ 52.75 per ton, corrected by 0.85 percent.

Meanwhile, Quoting data from the Ministry of Energy and Mineral Resources (ESDM), the reference coal price (HBA) weakened again in August to the level of US$ 50.34 per ton. This level is also the lowest position since 2016. Throughout the year 2020, the HBA has corrected 23.64 percent.

Perusahaan Batu Bara Sinar Mas Pertimbangkan Pangkas Produksi

Finna U. Ulfah

EMITEN pertambangan batu bara entitas Grup Sinar Mas, PT Golden Energy Mines Tbk., mempertahankan rencana produksi 2020. Namun, perusahaan akan menye-suaikan dengan permintaan pasar.

Presiden Direktur Golden Energy Mines Bonifasius mengatakan perusahaan masih akan mempertahankan panduan produksi yang sudah ditetapkan pada awal tahun ini kendati harga batu bara masih dalam tren penurunan.

Untuk diketahui, berdasarkan data Bloomberg , pada perdagangan Senin (10/8/2020), harga batu bara Newcastle untuk kontrak teraktif parkir di level US$52,75 per ton, terkoreksi 0,85 persen.

Sementara itu, Mengutip data Kementerian Energi dan Sumber Daya Mineral (ESDM), harga batu bara acuan (HBA) kembali melemah pada Agustus ke level US$50,34 per ton. Level itu pun merupakan posisi terendah sejak 2016. Sepanjang tahun berjalan 2020, HBA telah terkoreksi 23,64 persen.

IMA-Daily Update Page 14

Based on Bisnis records, GEMS targets coal production of around 29 million tons this year, lower than last year's coal production of 30 million tons.

"We depend on the market, if the demand is getting less and more detrimental to us, we will definitely reduce production," said Bonifasius, Tuesday (11/8/2020).

Meanwhile, in the first quarter of 2020 GEMS has produced coal amounting to 8.4 million tons, growing 18 percent compared to last year's production achievement in the range of 7.1 million tons.

The company has not released the realization of production in the second quarter of 2020 in line with the financial statements for that period which are still in the audit process until now.

Bonifasius explained, the curren t contribution of GEMS sales is 36 percent from domestic, while 64 percent is an export market which is still dominated by China.

In addition, GEMS postponed the realization of the capital expenditure or capital expenditure that had been set at the beginning of this year in line with the emergence of many business challenges due to the Covid-19 pandemic.

Bonifasius explained that the company cut its capital expenditure (capex) allocation this year from US$ 19 million to only US$ 10 million.

"However, we can be sure that the postponement of the capex will not affect the company's operating activities," he said.

Meanwhile, the issuer coded as GEMS shares has realized a capex of around 60 percent of the total allocation of the latest guidelines throughout the first semester of 2020. Most of the funds were used for the expansion of the port (jetty), road infra-structure and stockpiles. Editor: Hafiyyan

Berdasarkan catatan Bisnis , GEMS menargetkan produksi batu bara sekitar 29 juta ton tahun ini, lebih rendah daripada realisasi produksi batu bara tahun lalu sebanyak 30 juta ton.

“Kami tergantung pasar, kalau demand-nya semakin tidak ada dan merugikan kami, pasti kami akan mengurangi produksi,” ujar Bonifasius, Selasa (11/8/2020).

Adapun, pada kuartal I/2020 GEMS telah memproduksi batu bara sebesar 8,4 juta ton, tumbuh 18 persen daripada pen-capaian produksi tahun lalu di kisaran 7,1 juta ton.

Perseroan belum mengeluarkan realisasi produksi kuartal II/2020 seiring dengan laporan keuangan periode itu yang masih dalam proses audit hingga saat ini.

Bonifasius menjelaskan, kontribusi pen-jualan GEMS saat ini sebesar 36 persen dari domestik, sedangkan 64 persen merupakan pasar ekspor yang masih di-dominasi China.

Selain itu, GEMS menunda realisasi belanja modal atau capital expenditure yang sudah ditetapkan pada awal tahun ini seiring dengan munculnya banyak tantangan bisnis akibat pandemi Covid-19.

Bonifasius menjelaskan perusahaan me-mangkas alokasi capital expenditure (capex) tahun ini yang semula sebesar US$19 juta menjadi hanya sebesar US$10 juta.

“Namun, bisa dipastikan penundaan capex tersebut tidak mempengaruhi aktivitas operasi perseroan,” ujarnya.

Adapun, emiten berkode saham GEMS itu telah merealisasikan capex sekitar 60 persen dari total alokasi panduan terbaru sepanjang semester I/2020. Realisasi dana itu sebagian besar digunakan untuk perluasan pelabuhan (jetty), infrastruktur jalan, dan stockpile. Editor : Hafiyyan

IMA-Daily Update Page 15

Utilization of Residual Tailings from Mine Processing

Author: Charles Candra P. Panjaitan, Editor: Faris Primayudha

THE TERM tailings is closely related to the processing of mining materials, whether ores such as gold, copper, silver, bauxite and other minerals. Tailing is a type of waste obtained from a series of mineral processing.

The processing stages start from crushing, grinding, concentration, to smelting. Tailings are residual materials from the process of separating valuable minerals with economic value, which are then separated as waste, or waste materials that have no value for use.

At first, tailings were often considered useless waste, because they no longer contain valuable minerals, have been mixed with various chemicals, and contain harmful substances that damage the environment. So that the presence of tailings will generally just be deposited in a dam (Tailing Dam/Tailing Storage Facility) and left alone.

However, along with the advancement of technology, research reveals that tailling still has characteristics that can be reused as a useful material.

What is the use of tailings like?

1. Cement Making Materials

Mining companies in America have utilized tailings as a lightweight construction material, known today as autoclaved aerated cement (AAC) with the main raw material of silica (SiO2). AAC lightweight building material with...

Pemanfaatan Tailing Sisa Hasil Pengolahan Tambang

Penulis : Charles Candra P. Panjaitan, Editor : Faris Primayudha

ISTILAH tailing erat kaitannya dalam proses pengolahan material tambang, baik bijih seperti emas, tembaga, perak, bauksit maupun mineral lain. Tailing merupakan suatu jenis limbah yang diperoleh dari hasil rangkaian pengolahan bahan galian.

Tahapan pengolahan dimulai dari peremukan (crushing), peremukan (grinding), konsentrasi, hingga pemurnian (smelting). Tailing merupa-kan material sisa dari proses pemisahan mineral-mineral berharga yang bernilai ekono-mis, yang akhirnya dipisahkan sebagai limbah, atau bahan buangan yang tidak bernilai pakai.

Pada awalnya, tailing kerap kali dianggap sebagai limbah yang kurang berguna, karena sudah tidak lagi mengandung mineral-mineral berharga, sudah melalui pencampuran berbagai zat kimia, dan mengandung zat-zat berbahaya yang merusak lingkungan. Sehingga keber-adaan tailing umunya akan diendapkan begitu saja pada suatu bendungan (Tailing Dam/ Tailing Storage Facility) dan dibiarkan.

Akan tetapi seiring dengan kemanjuan teknologi, penelitian mengungkapkan bahwa tailling ternyata masih memiliki karakteristik yang dapat dimanfaatkan kembali sebagai material berdaya guna.

Seperti apa pemanfaatan tailing?

1. Bahan Pembuatan Semen

Perusahaan tambang di Amerika telah me-manfaatkan tailing sebagai bahan material konstruksi kelas ringan, yang dikenal saat ini sebagai autoclaved aerated cement (AAC) dengan bahan baku utama silika (SiO2). Material bangunan ringan AAC dengan...

IMA-Daily Update Page 16

AAC lightweight building material with silica sand as raw material from the tailings of porphyry ore mining. The advantages are that it has properties as an excellent heat insulator, soundproof material and has a quality comparable to general building materials.

2. Materials for Making Paving Blocks and Batako

Solid waste material from the amal-gamation of gold ore in the form of tailings can be used as an additive (admixture) for making paving blocks. The availability of tailings is obtained from mining blood in the Sukabumi area, West Java. Bauxite leached tailings can also be used as a paving block material. One of them has been used in the mining area of PT Antam on Bintan Island. This material has been used for road dividers and the wall of the mosque fence which is located in the PT Aneka Tambang office complex.

3. Polymer Concrete Mixture

One of the copper and gold mining companies in Papua, PT Freeport Indonesia, uses tailings as a mixture for making concrete. The use of tailings as a base for making concrete was carried out in 2001 for the construction of the road to the Gresberg mine. This concrete is called Polymer Concrete with a composition of 29.4% portland cement, 0.6% polymer, and 70% tailings. In addition, this concrete mixture has been used as a building material for the construction of employee housing.

4. Materials for Making Bricks and Ceramics

In several countries such as China and America, tailings from aluminum mining have been used as bricks and ceramics. In Indonesia,...

Material bangunan ringan AAC dengan bahan baku pasir silika dari tailing hasil penambangan bijih porfiri. Kelebihannya yaitu mempunyai sifat sebagai isolator panas yang sangat baik, bahan kedap suara dan memiliki kualitas yang sebanding dengan material bahan bangunan umumya.

2. Bahan Pembuatan Paving Block dan Batako

Material limbah padat hasil pengolahan bijih emas cara amalgamasi berupa tailing dapat digunakan sebagai bahan tambah (admixture) pembuatan paving block. Ketersediaan tailing ini didapat dari darah penambangan di daerah Sukabumi, Jawa Barat. Tailing hasil pencucian bauksit juga dapat dimanfaatkan sebagai bahan paving block. Salah satunya telah dimanfaatkan di area pertambangan PT Antam di Pulau Bintan. Material tersebut telah digunakan untuk pembatas jalan, dan tembok pagar masjid yang terletak di komplek per-kantoran PT Aneka Tambang.

3. Bahan Campuran Beton Polimer

Salah satu perusahaan tambang tembaga dan emas di Papua, PT Freeport Indonesia memanfaatkan tailing sebagai bahan campuran pembuatan beton. Penggunaan tailing sebagai bahan dasar pembuatan beton telah dilakukan pada tahun 2001 untuk pembangunan jalan menuju tambang Gresberg. Beton ini disebut dengan istilah Beton Polimer dengan komposisi semen portland 29,4%, polimer 0,6%, dan tailing 70%. Selain itu, campuran beton ini telah digunakan untuk bahan bangunan untuk pembangunan perumahan karyawan.

4. Bahan Pembuatan Batu Bata dan Keramik

Di beberapa negara seperti China dan Amerika, tailing hasil penambangan alumunium telah dimanfaatkan sebagai batu bata dan keramik. Di Indonesia,...

IMA-Daily Update Page 17

In Indonesia, another potential for processing natural mineral materials is as raw material in industrial development, especially zeoceramics (ceramics). The mineral potential is found in the PLTU Suralaya and Majalaya Sukabumi areas, West Java. An example is waste from zeolite mining.

From these benefits, we already know how

to use tailings for construction. Tailings, which were originally only a waste material, can now become a useful material. Mining companies have also taken this effort to minimize the potential

for environmental damage from tailings, as well as optimize the profitable use of waste materials.

Di Indonesia sendiri, potensi lain pengolahan bahan mineral alam adalah sebagai bahan baku dalam pengembangan industri, ter-utama zeokeramik (keramik). Potensi bahan mineral itu ditemukan di wilayah PLTU Suralaya dan Majalaya Sukabumi Jawa Barat. Sebagai contohnya adalah limbah hasil penambangan zeolit.

Dari beberapa manfaat tersebut kita sudah mengetahui bagaimana pemanfaatan tailing untuk konstruksi. Tailing yang awalnya hanya sebagai bahan buangan, kini dapat menjadi suatu bahan berdaya guna. Upaya ini pun dilakukan perusahaan pertambangan untuk meminimalkan potensi kerusakan lingkungan akibat tailing, sekaligus optimasi pemanfaatan bahan sisa yang meng-untungkan.

Oops! Coal Prices Drop Again, Weakest Since May

Tirta Citradi, CNBC Indonesia

NEWCASTLE's benchmark thermal coal

price fell significantly in yesterday's trading. The prices of the leading

Indonesian and Australian commodities are now at their lowest level since May.

Tuesday (11/8/2020) Newcastle coal price for actively transacted contracts fell 2.94% to US$ 51.2/ton. In the last two trading days, the price of coal has dropped 3.76%.

The increase in China's coal stocks along with the weakening domestic coal price has great potential to make Panda Country discouraged from loosening its coal import policy.

Duh! Harga Batu Bara Ambles Lagi, Terlemah Sejak Mei

Tirta Citradi, CNBC Indonesia

HARGA batu bara termal acuan Newcastle anjlok signifikan pada perdagangan kemarin. Harga komoditas unggulan RI dan Australia itu kini berada di level terendah sejak bulan Mei.

Selasa (11/8/2020) harga batu bara New-castle untuk kontrak yang aktif ditransaksi-kan anjlok 2,94% ke US$ 51,2/ton. Dalam dua hari perdagangan terakhir, harga batu bara telah anjlok 3,76%.

Kenaikan stok batu bara China disertai dengan melemahnya harga batu bara domestik berpotensi besar membuat Negeri Panda mengurungkan niatnya untuk me-longgarkan kebijakan impor batu baranya.

IMA-Daily Update Page 18

China's domestic coal prices also weakened last week. The benchmark Qinhuangdao FOB price fell 1.7% for the week to RMB 562/ton on Friday.

Coal supplies at Qinhuangdao, the main trans-shipping port in North China, totaled 5.78 million tonnes on Aug 7, an increase of 14% from 5.09 million tonnes the previous week.

The impact of China's coal import restrictions can be seen from the July trade data which showed China's coal imports fell 21% in July compared to the same month last year.

The world's largest coal consumer imported 26.1 million tonnes of coal in July, according to data released by the General Administration of Customs on Aug, 7.

The decline in coal prices was also reflected in the weakening of the country's reference coal price (HBA). As of this August, the Indonesian reference coal price (HBA) was pegged at US$ 50.34 per ton, down 3.49% compared to July from US$ 52.16 per ton.

The weak demand and high coal stocks have depressed coal prices. The slowing down of coal demand from India and China has prompted the Indonesian government to try to explore other markets that are still in Southeast Asia.

Indonesia, as one of the world's largest coal exporters, is stepping up efforts to diversify its coal sales. Indonesia is trying to use diplomatic channels to promote sales across the region, from Vietnam to Pakistan and Bangladesh.

This was conveyed by an unnamed govern-ment spokesman. This is a country effort to offset the annual decline in exports and the global shift towards cleaner and environ-mentally friendly energy.

Harga batu bara domestik China juga melemah minggu lalu. Harga patokan Qinhuangdao FOB turun 1,7% untuk minggu ini menjadi RMB 562/ton pada hari Jumat.

Persediaan batu bara di Qinhuangdao, pelabuhan trans-pengiriman utama di China Utara, mencapai 5,78 juta ton pada 7 Agustus, meningkat 14% dari 5,09 juta ton pada minggu sebelumnya.

Dampak pembatasan impor batu bara China terlihat dari data perdagangan bulan Juli yang menunjukkan impor batu bara China merosot 21% pada Juli dibandingkan dengan bulan yang sama tahun lalu.

Konsumen batu bara terbesar dunia meng-impor 26,1 juta ton batubara pada Juli, menurut data yang dikeluarkan oleh Adminis-trasi Umum Kepabeanan pada 7 Agustus.

Penurunan harga batu bara juga tercermin dari makin melemahnya harga batu bara acuan (HBA) Tanah Air. Hingga bulan Agustus ini, harga batu bara acuan (HBA) RI dipatok di US$50,34 per ton, turun 3,49 % dibanding-kan bulan Juli dari angka US$ 52,16 per ton.

Lemahnya permintaan dan stok batu bara yang tinggi ini membuat harga batu bara tertekan. Mulai melambatnya permintaan batu bara dari India dan China membuat pemerintah Indonesia mencoba menjajaki pasar lainnya yang masih berada di kawasan Asia Tenggara.

Indonesia, sebagai salah satu eksportir batu bara terbesar di dunia, meningkatkan upaya untuk mendiversifikasi penjualan batu baranya. Indonesia mencoba menggunakan saluran diplomatik untuk mempromosikan penjualan di seluruh kawasan, dari Vietnam ke Pakistan dan Bangladesh.

Hal tersebut disampaikan oleh seorang bicara pemerintah yang tidak disebutkan namanya. Ini merupakan upaya negara untuk meng-imbangi penurunan ekspor tahunan dan tren pergeseran menuju energi yang lebih bersih dan ramah lingkungan secara global.

IMA-Daily Update Page 19

Another negative sentiment also came from the US. The Energy Information Agency (EIA) estimates that Uncle Sam's electricity consumption will drop 3% this year compared to last year.

In addition, the coal market share is also expected to decline. EIA said the share of power plants using natural gas would increase from 37% in 2019 to 40% in 2020

before dropping to 35% in 2021 due to rising gas prices.

The share of coal will decrease from 24%

in 2019 to 18% in 2020 before increasing to 22% in 2021. Meanwhile the share of

nuclear will increase from 20% in 2019 to 21% in 2020 and 2021, and the use of renewable energy will increase from 17 % in 2019 to 20% in 2020 and 22% in 2021.

Both nuclear and renewable energy will

replace coal for the first time in 2020. CNBC

INDONESIA RESEARCH TEAM (twg/hps)

Sentimen negatif lainnya juga datang dari AS. Energy Information Agency (EIA) memper-kirakan konsumsi listrik Negeri Paman Sam bakal turun 3% tahun ini dibanding tahun lalu.

Selain itu pangsa pasar batu bara juga di-perkirakan turun. EIA mengatakan pangsa pembangkit listrik menggunakan gas alam akan meningkat dari 37% pada 2019 menjadi 40% pada 2020 sebelum turun menjadi 35% pada 2021 karena kenaikan harga gas.

Pangsa batu bara akan turun dari 24% pada 2019 menjadi 18% pada 2020 sebelum naik menjadi 22% pada 2021. Sementara itu pangsa nuklir akan naik dari 20% pada 2019 menjadi 21% pada 2020 dan 2021, dan peng-gunaan energi terbarukan akan meningkat dari 17% pada 2019 menjadi 20% pada 2020 dan 22% pada 2021.

Baik nuklir maupun energi terbarukan akan menggantikan batu bara untuk pertama kalinya pada tahun 2020 ini. TIM RISET CNBC INDONESIA (twg/hps)

COVID-19 turns Indonesian ore export ban into curse for nickel market: S&P

The global primary nickel market will reach its first surplus in five years and prices will drop 7% year-over-year, according to recent market research by S&P Global Market

Intelligence.

THE REPORT focused on Indonesia's ore export ban, which had been expected to drive nickel prices higher this year.

It said the forecast surplus and price drop were due to two factors - demand destruction caused by the COVID-19 pandemic lowering prices and its expectation Indonesia's primary nickel production would jump by 46% to 550,000 tonnes this year.

"In the absence of sufficient primary demand due to COVID-19, higher Indonesian production will not be absorbed," the research by Jason Sappor said.

"The combination will drive the global primary nickel market to a 100,000t surplus this year — the market's first primary surplus since 2015 — from a 33,000-tonne deficit in 2019.

IMA-Daily Update Page 20

"We expect this significant surplus to lower the average price by 7% year over year to US$12,990/t in 2020."

Sappor said Indonesia's ban on nickel ore exports was likely to extend the expansion of Indonesia's value-added nickel production capacity beyond 2020.

He said some domestic miners might be forced to cease operating or reduce production due to low grades but despite forecasting a 24% drop in contained mined nickel output for this year, he expected output to increase in future to feed the value-added products industry.

S&P said Indonesia's primary nickel production and exports had surged on smelting expansion and it expected production to keep increasing.

"We expect the country's primary nickel output to increase from an expected 550,000t this year to 930,000t by 2024, overtaking China as the world's leading primary nickel producer next year," Sappor said.

However he noted in the long term, global primary nickel market fundamentals would depend heavily on the "degree of uncertainty" surrounding Indonesian mining policy and whether the country's nickel producers' smelting expansions could remain viable in light of the large amount of investment these projects required.

CIMIC’s Thiess awarded mining services contract Published by Jessica Casey, Editorial Assistant

CIMIC’s global mining services provider, Thiess, has been awarded a mining services contract with Mantos Copper S.A. at their Mantos Blancos mine, located northeast of Antofagasta, Chile.

Thiess will undertake load and haul services, including fleet maintenance, to move low-grade copper ore.

Thiess’ Managing Director, Douglas Thompson, said: “This contract demonstrates Thiess’ ability to apply global insight and experience into furthering local value and deliver productivity and efficiencies for our clients.”

“Mantos Copper S.A. is an important contributor to the mining industry in the Antofagasta region and we are proud to be of service.”

Thiess’ Executive General Manager Americas, Darrell White, added: “For the past 5 years, we have delivered safe and efficient operations in Chile in line with our vision to be the world’s leading mining services provider.”

“We value collaboration and engagement and look forward to growing our relationship with Mantos Copper S.A.”

Thiess has operated in Chile since 2015, applying industry-leading best practice mining operations, with a safety-first culture and commitment to project delivery.

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Stainless surge revives nickel, but surplus still looms Reuters

RAPIDLY rising stainless steel production in top consumer China has helped to preserve demand and prices of key ingredient nickel, but analysts still expect a supply overhang of the metal valued for its anti-corrosive properties.

Benchmark nickel prices on the London Metal Exchange (LME) are near their highest in more than seven months at around $14,300 a tonne and up more than 30% since touching a 14-month low of $10,865 in March.

Covid-19 lockdowns and stalled manufacturing activity had led analysts to expect a large drop in production of stainless steel, accounting for about 70% of global nickel demand estimated at about 2.35 million tonnes this year.

But vast amounts of fiscal and monetary stimulus in China have fuelled a surge in economic activity, particularly in the infrastructure and construction industries, major consumers of stainless steel.

Source: Reuters

Macquarie analyst Jim Lennon estimates that Chinese mills produced 2.875 million tonnes of stainless steel in July, up 4.8% year on year.

“More importantly for nickel, the high-nickel containing 300-series grades of stainless saw growth of 17.5% year on year in July to 1.46 million tonnes, an all-time high,” Lennon said.

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“But we’re still likely to see a surplus around 100,000 tonnes. Demand is better, but supply is better, too, mostly because of China and Indonesia.”

Traders say much of nickel’s gains are due to bets on higher prices, as can be seen in open interest for the LME’s nickel contracts.

Source: Reuters

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This is partly speculative and based on Tesla boss Elon Musk urging miners to produce more nickel “in an environmentally sensitive way”.

Analysts say that most of the stainless steel produced is being consumed and that inventories in China are falling.

“The nickel market is probably where you get the starkest comparison between China and rest of the world in terms of economic growth and demand,” said Citi analyst Oliver Nugent.

Citi expects the nickel market to be oversupplied by 135,000 tonnes this year and 117,000 tonnes in 2021.

“In the base metals complex, nickel looks the most expensive compared to production costs,” Citi’s Nugent said.

(By Pratima Desai; Editing by David Goodman)

Australian thermal coal exports to remain competitive: Aurizon Author: Fred Wang, Editor: Shashwat Pradhan

AUSTRALIAN rail operator Aurizon said in its fiscal year 2020 (July to June) results report on Aug. 10 that Asian coal-fired power consumption is expected to remain robust and Australian thermal coal exports continue to be competitive among seaborne consumers.

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Aurizon is Australia's largest rail freight operator moving commodities such as coal and iron ore across the nation.

"99% of Australian exports are destined for Asia. It is this region, rather than global consumption, that is projected to use coal-fired generation assets for a prolonged period," said Aurizon.

In addition, the company said Australia's thermal coal competitiveness is driven by coal quality characteristics and geographic proximity to Asia.

In FY 2020, Australia exported 213 million mt of thermal coal to Asian countries, the report said.

There were 74 million mt and 52 million mt of thermal coal exported to Japan and China, respectively, followed by 32 million mt to South Korea, 23 million mt to Taiwan, 29 million mt to other parts of Asia including Vietnam, and 3 million mt to the rest of the world, the report said.

The FY 2020 figure was up 14.1% from the year ago figure, data from the report showed.

"The fundamentals of Australian metallurgical and thermal coal remain strong, driven by steel and energy demand in Asia, supporting coal export growth of 1%-2% per annum over the next decade," the report said.

S&P Global Platts Analytics remains optimistic that bituminous coal import demand in Asia will be more resilient through to the end of 2020.

"The price differential between high and mid-CV coal prices is small enough for customers to consider higher energy coal rather than a reliance on cheaper sub-bituminous coal," said Matthew Boyle, lead coal analyst at Platts Analytics.

The price of FOB Newcastle 5,500 kcal/kg NAR coal with 23% ash was assessed at $36.25/mt on Aug. 7, down 30.6% since the beginning of this year, Platts data showed.

Coal operations

On the transport and operational front, Central Queensland Coal Network (CQCN)'s volume dipped on the year, the report said.

CQCN is Australia's largest export rail network, comprising four major coal systems and one connecting system, which connects more than 50 mines to five major export ports, as well as many domestic consumers.

Owned by Aurizon, the network transported 227 million mt of coal in FY 2020, down 2% from FY 2019, the report said.

As of June 30, 214 million mt of coal were hauled, largely stable on the year, with 58% of it being thermal coal, Aurizon estimated.

Due to the coronavirus pandemic impacting demand, the outlook for coal volumes is around 210 million-220 million mt, while CQCN volumes are expected to be below 239 million mt in FY 2021, the report added.

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NT boosts local mining exploration Salomae Haselgrove

THE NORTHERN Territory Government will invest $26 million in resources, mining and

petroleum, acknowledging the strong contribution of mining to jobs and investment in the territory.

This includes a strong commitment to greenfields exploration while also supporting existing projects to underline Northern Territory’s status as the COVID-19 comeback region in Australia.

With prospective deposits of strategically important rare earths, copper, titanium and vanadium as well as established commodities like bauxite, gold, zing, lead, manganese and uranium, minerals exploration is set to deliver more local jobs and a bigger and more diverse mining industry across the Territory.

The Minerals Council of Australia (MCA) Northern Territory executive director Drew Wagner endorsed the government’s decision to invest further in the industry and urged it to combine this with genuine consultation with the industry and align with proposed Commonwealth reforms.

“The Northern Territory Government should work closely with the Commonwealth including through the Exploring for the Future program and through reforms from the current review of the Environment Protection and Biodiversity Conservation Act for a stronger and more efficiently regulated future mining industry,” Wagner said.

“MCA Northern Territory continues to seek certain and transparent rules for exploration activities including a code of conduct for mineral exploration and will promote the highest standards of consultation and respectful practices with communities.

“The MCA’s three-year climate action plan launched earlier this year showed the Norther Territory minerals industry is committed to reducing and managing risks related to climate change, a goal also identified by (the) Territory Labor (government).”

The Northern Territory branch of the MCA is also working with the government to bolster safety and emergency response across the mining sector.

“Throughout the coronavirus crisis, the Territory Government’s top priorities have been saving lives and saving jobs but we are also working on creating new jobs for Territorians,” Northern Territory chief minister Michael Gunner said.

“We are the safest in Australia which means we can have the strongest comeback in Australia. We will keep doing whatever it takes to protect and create jobs and we will always put the Territory first.”

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Demand for metallurgical coal to be the worst affected in 2020: Poll

THE COVID-19 pandemic has impacted several industries globally, particularly power, manufacturing, and auto, which drive the demand for metals and minerals.

Verdict has conducted a poll to assess which metals and minerals will be the worst affected in demand terms in 2020.

Analysis of the results shows that the demand for metallurgical coal will be the most affected.

A majority 27% of the respondents voted that demand for metallurgical coal will be the worst affected during the year, followed by 23% who felt that platinum demand will be the most affected and 17% who opined that demand for copper will be the worst affected.

Another 17% of the respondents felt that demand for iron ore and aluminium will be the worst affected in 2020.

The analysis is based on 453 responses received from readers of Mining Technology, a Verdict network site, between 18 June and 10 August.

US 2020 coal production to fall 28.8% on year to 57-year low: EIA Author: Tyler Godwin, Editor: Keiron Greenhalgh

THE US is expected to produce 502.2 million st of coal in 2020, the US Energy Information Administration said Aug. 11, raising its estimate from a month ago by roughly 900,000 st, or 0.2%.

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Such a 2020 production total would be 28.8% lower than the 705.3 million st produced in 2019, while 2021 production is forecast to rise to 564.1 million st, the EIA said in its August Short-Term Energy Outlook.

The 502.2 million st of production expected in 2020 would be the lowest production since 477.2 million st was produced in 1963.

Since the beginning of the year, the EIA's 2020 production estimate has dropped by 94.4 million st due to the coronavirus pandemic, which has resulted in a decrease in US power generation and coal production cutbacks by miners.

Power sector coal consumption is projected to be 391.3 million st in 2020 and 475 million st in 2021, compared with 539.4 million st in 2019.

Total consumption, including by petcoke plants and retail, is estimated at 435.4 million st in 2020 and 520.4 million st in 2021, down from 587.3 million st in 2019.

The EIA said production is expected to rise in 2021 due to "higher demand and rising natural gas prices."

Coal is expected to make up 18.1% of the US power generation stack in 2020 and 21.8% in 2021, down from 24.3% in 2019. Coal's estimated share in 2020 would be less than half that of a decade earlier, when coal made up 44.8% of the stack in 2010.

Renewables are projected to make up 20.1% of the stack in 2020 and 22% in 2021, up from 17.4% in 2019. It would be the first time ever that renewables had a higher generation share than coal should the numbers come to fruition.

Power generation from natural gas is estimated at 40.1% of the generation stack in 2020 and 35% in 2021, compared with 37.3% in 2019.

The estimated increase in 2020 is largely the result of cheaper gas prices, despite a drop in dry gas production, which is forecast to average 88.7 Bcf/d in 2020 and 84 Bcf/d in 2021, compared with a 92.2 Bcf/d average in 2019.

The EIA projects the spot Henry Hub gas price will average $2.11/MMBtu this year and $3.25/MMBtu in 2021, compared with $2.66/MMBtu in 2019.

Exports expected to fall to 11-year low

Coal exports are projected to fall to an 11-year low of 59.8 million st in 2020, after totaling 92.9 million st in 2019 and would be the the lowest since 59.1 million st was shipped in 2009. However, exports are expected to recover in 2021 to 63 million st.

Thermal coal export volumes are estimated to come in at 21.9 million st in 2020 and 20.6 million st in 2021, down from 37.7 million st in 2019.

The remaining 37.9 million st in 2020 is expected to be metallurgical coal, while 2021 exports of met coal are projected at 42.4 million st. In 2019, the US exported 55.1 million st of met coal.

Exports are expected to make up 11.9% of total US coal production in 2020 and 11.2% in 2021, down from 13.2% in 2019, according to EIA data.