IMA-Daily Update Page 1

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The Minister of EMR gives a signal to issue an IUPK for the continuation of PKP2B Menteri ESDM beri sinyal akan terbitkan IUPK untuk kelanjutan PKP2B Revised target, Vale Indonesia will only produce 73,700 tons of nickel this year Target Direvisi, Vale Indonesia Hanya Produksi Nikel 73.700 Ton Tahun Ini Maintain Profits, PTBA Boss Reveals Efficiency Strategy in Pandemic Era Jaga Laba, Bos PTBA Ungkap Strategi Efisiensi di Era Pandemi United Tractor (UNTR) Cut Performance Projections, from Gold to Coal Business United Tractor (UNTR) Pangkas Proyeksi Kinerja, dari Bisnis Emas hingga Batu Bara Gold Prices Rise, Antam's Opportunity to Increase Production at Pongkor and Cibaliung Gold Mine Kesempatan Harga Emas Naik, Antam Tingkatkan Produksi Tambang Emas Pongkor dan Cibaliung After the divestment, Vale Indonesia (INCO) opens synergy options with other mining SOEs Pasca divestasi, Vale Indonesia (INCO) buka opsi sinergi dengan BUMN tambang lain In the Next Eight Years, the Need for Coal Fired Power Plant Will Reduce Sewindu Mendatang, Kebutuhan Batu Bara PLTU Bakal Berkurang When Will Coal Prices Rebound? This is a Cue from the PTBA Boss Kapan Harga Batu Bara Rebound? Ini Petunjuk dari Bos PTBA Continuously Pressed, Coal Rages and Prices Return to Level of US$50

Kontan Dunia Energi CNBC Indonesia Bisnis Dunia Tambang Kontan Bisnis CNBC Indonesia CNBC Indonesia

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Ditekan Terus, Batu Bara Ngamuk & Harga Balik ke Level US$50 Copper price to extend rally on “signs of Chinese panic buying” SXiQ delivers Orica’s transformation out of the datacentre into the Cloud Newcrest contracts DXN for Cadia data centre China’s Shanxi Coal plans big investment in solar cell manufacturing sector Trump’s Coal Resurgence Promise Has Gone Underground

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IMA-Daily Update Page 3

The Minister of EMR gives a signal to issue an IUPK for the

continuation of PKP2B Reporter: Ridwan Nanda Mulyana | Editor:

Herlina Kartika Dewi

MINISTER of Energy and Mineral Resources

(MEMR) Arifin Tasrif gave a signal that he will issue a Special Mining Business License (IUPK) this year. The reason is, there is a Coal Mining Exploitation Work Agreement (PKP2B) which will soon expire.

Arifin said, although Law Number 3 of 2020 or the new Minerba Law is still in a formal review suit at the Constitutional Court (MK), the Ministry of EMR is still conducting an evaluation process for the awarding of IUPK as a contract extension.

"There is no new IUPK yet. Maybe this year there is one that is indeed in process. We are currently clarifying, although there is still a process in the Constitutional Court," said Arifin at the Joint Working Meeting of Commission VII DPR RI which was held Wednesday (26/8).

According to Arifin, guaranteeing business continuity is the main consideration why the evaluation of license extensions is being held. Moreover, this will also have an impact on state revenues.

"Even though there is still a process in the Constitutional Court, we also consider that business continuity can be a major consideration. Otherwise, the state will lose its revenue," said Arifin.

At the same time, the Ministry of EMR is also finalizing a draft Government Regulation (PP) as a derivative rule of the new Minerba Law. Arifin targets that the PP can be issued at the end of this year.

Menteri ESDM beri sinyal akan terbitkan IUPK untuk

kelanjutan PKP2B Reporter: Ridwan Nanda Mulyana | Editor:

Herlina Kartika Dewi

MENTERI Energi dan Sumber Daya Mineral

(ESDM) Arifin Tasrif memberi sinyal akan menerbitkan Izin Usaha Pertambangan Khusus (IUPK) pada tahun ini. Pasalnya, ada satu Perjanjian Karya Pengusahaan Pertambangan Batubara (PKP2B) yang segera habis kontrak.

Arifin mengatakan, meski Undang-Undang Nomor 3 Tahun 2020 atau UU Minerba yang baru masih dalam gugatan uji formil di Mahkamah Konstitusi (MK), tapi Kementerian ESDM tetap melakukan proses evaluasi pem-berian IUPK sebagai perpanjangan kontrak.

"IUPK baru ini belum ada. Mungkin tahun ini ada satu yang memang dalam proses. Kita sedang melakukan klarifikasi, meskipun masih ada proses di dalam MK," kata Arifin dalam Rapat Kerja bersama Komisi VII DPR RI yang digelar Rabu (26/8).

Menurut Arifin, jaminan keberlangsungan usaha menjadi pertimbangan utama mengapa evaluasi perpanjangan izin terus digelar. Apalagi, hal tersebut juga akan berdampak terhadap penerimaan negara.

"Meskipun masih ada proses di dalam MK tapi kami juga meng-consider bahwa kelang-sungan usaha bisa menjadi pertimbangan utama. Karena kalau tidak, negara akan kehilangan pendapatannya," sebut Arifin.

Berbarengan dengan itu, Kementerian ESDM juga sedang merampungkan rancangan Peraturan Pemerintah (PP) sebagai aturan turunan dari UU Minerba yang baru. Arifin menargetkan, PP tersebut bisa terbit pada akhir tahun ini.

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"Our team from the (DG) Minerba is working extra to be able to make clarifications with the relevant ministries and institutions, so that the draft can be completed immediately," said Arifin.

For information, the company whose contract expires in the near future is PT Arutmin Indonesia. This subsidiary of PT Bumi Resources Tbk (BUMI) has a mining area of 57,107 ha, and the contract will expire on November 1, 2020. Arutmin has submitted a contract extension to become IUPK in October 2019.

Referring to Kontan.co.id's report, the Special Staff of the Minister of EMR for the Acceleration of Mineral and Coal Governance Irwandy Arief said that the PKP2B contract extension and its continuation as an IUPK would not be automatically granted by the government. He said, there was a strict evaluation that would be carried out by the government.

Irwandy said, there are a number of requirements that must first be met by companies holding PKP2B. If it is not fulfilled, then the contract cannot be extended.

"Of course it is not automatic, but through strict requirements. Including considering the track record of company performance and increasing state revenue," said Irwandy, on (21/7).

Meanwhile, in relation to the regulations derived from the new Minerba Law, it is stated that there are three draft PPs that are currently being discussed by the government. Consisting of, first, PP on mineral and coal mining management.

Second, PP related to mining areas. Third, the PP regarding guidance and supervision, which includes, among other things, regulations regarding reclamation and post mining.

"Tim kami dari (Ditjen) Minerba sedang kerja ekstra untuk bisa melakukan klarifikasi-klarifikasi dengan kementerian dan lembaga terkait, sehingga rancangan-nya bisa segera diselesaikan," kata Arifin.

Sebagai informasi, perusahaan yang kontraknya berakhir dalam waktu dekat adalah PT Arutmin Indonesia. Anak usaha dari PT Bumi Resources Tbk (BUMI) itu memiliki wilayah tambang dengan luas 57.107 ha, dan kontraknya akan berakhir pada 1 November 2020. Arutmin sudah mengajukan perpanjangan kontrak men-jadi IUPK pada Oktober 2019 lalu.

Merujuk pada pemberitaan Kontan.co.id, Staff Khusus Menteri ESDM Bidang Percepatan Tata Kelola Minerba Irwandy Arief mengatakan, perpanjangan kontrak PKP2B dan kelanjutannya sebagai IUPK tidak akan diberikan pemerintah secara otomatis. Kata dia, ada evaluasi ketat yang akan dilakukan pemerintah.

Irwandy bilang, ada sejumlah persyaratan yang terlebih dulu harus dipenuhi perusahaan pemegang PKP2B. Jika tidak memenuhi, maka kontrak tersebut bisa tidak diperpanjang.

"Tentunya tidak otomatis, tetapi melalui persyaratan yang ketat. Termasuk mem-pertimbangkan rekam jejak kinerja perusahaan serta peningkatan penerimaan negara," jelas Irwandy, pada (21/7) lalu.

Sedangkan terkait dengan aturan turunan UU Minerba baru, disebutkan bahwa ada tiga Rancangan PP yang sedang dibahas pemerintah. Terdiri dari, pertama, PP tentang pengelolaan pertamba ngan minerba.

Kedua, PP yang terkait dengan wilayah pertambangan. Ketiga, PP tentang pem-binaan dan pengawasan, yang di dalamnya antara lain terdapat pengaturan perihal reklamasi dan pasca tambang.

IMA-Daily Update Page 5

Revised target, Vale Indonesia will only produce 73,700 tons of

nickel this year Rio Indrawan

DURING the second quarter of 2020, PT

Vale Indonesia (INCO) posted production

of 18,701 tonnes of nickel in matte or 6% growth compared to the realization in the

first three months of this year. Meanwhile, 19,887 tonnes of nickel matte was

equivalent to sales of US$ 185.7 million or a 19% growth in the shipments that were

realized in the first quarter.

As for production and shipments in the

first semester of 2020, respectively, 18% and 19% were higher than production and

shipments in the same period last year.

Although the average realized nickel price

was lower in the second quarter, about 11% lower than in the first three months,

the higher volume of nickel matt e shipments in April to June showed sales

rose 6% compared to January to March. "With this achievement, we are confident

that we can maintain our production level in 2020," said Nico Kanter, CEO and

President Director of Vale Indonesia, Wednesday (26/8).

With this year's realization, Vale has revised its nickel in matte production

target throughout 2020 from 71,000 tons to 73,700 tons by the end of this year. "4%

higher than production in 2019," said Nico.

Nico explained that the increase was due to

the delay in the rebuild of electric furnace 4 which was originally scheduled for the

fourth quarter of 2020 to the second quarter of 2021.

Target Direvisi, Vale Indonesia Hanya Produksi Nikel 73.700

Ton Tahun Ini Rio Indrawan

PT VALE Indonesia (INCO) sepanjang kuartal II 2020 membukukan produksi sebesar 18.701 ton nikel dalam matte atau 6% tumbuh jika dibandingkan dengan realisasi pada tiga bulan pertama tahun ini. Sementara untuk pengiriman nikel matte sebesar 19.887 ton setara dengan penjualan sebesar US$ 185,7 juta atau tumbuh 19% pengiriman yang direalisasikan pada triwulan pertama.

Adapun produksi dan pengiriman pada semester I tahun 2020 masing-masing sebesar 18% dan 19% lebih tinggi diban-dingkan produksi dan pengiriman pada pada tahun lalu dengan periode yang sama.

Meskipun harga rata-rata realisasi nikel lebih rendah pada kuartal II, sekitar 11% lebih rendah dibandingkan pada pada tiga bulan pertama, pengiriman volume nikel matte yang lebih tinggi pada April hingga Juni menun-jukkan penjualan naik 6% dibandingkan pada Januari hingga Maret. “Dengan pencapaian ini kami yakin dapat mempertahankan tingkat produksi kami pada tahun 2020,” kata Nico Kanter, CEO dan Presiden Direktur Vale Indonesia, Rabu (26/8).

Dengan adanya realisasi tahun ini Vale merevisi target produksi nikel dalam matte sepanjang tahun 2020 dari sebelumnya sekitar 71.000 ton menjadi sebesar 73.700 ton hingga akhir tahun ini. “4% lebih tinggi dibandingkan produksi di tahun 2019,” ujar Nico.

Nico menjelaskan kenaikan tersebut disebab-kan oleh penundaan rebuild tanur listrik 4 yang semula dijadwalkan pada kuartal IV 2020 menjadi kuartal II 2021.

IMA-Daily Update Page 6

Nico said that one of the operational challenges in the first semester of this year was the Covid-19 pandemic. Fortunately, the pandemic does not really affect operations because various preventive measures have been taken.

According to Nico, Vale has taken various steps to anticipate and reduce the potential impact of the spread of Covid-19 on Vale's operations. While health and safety remains top priority, Vale is committed to continuing production and project activities as far as possible.

"We appreciate the hard work of all employees at PT Vale to achieve good results this quarter, although we must focus on anticipating the possible impact of COVID-19 on our operations," said Nico. (RI)

Nico menuturkan salah satu tantangan operasional pada semester I tahun ini adalah adanya pandemi Covid-19. Untungnya pandemi tidak terlalu berpengaruh terhadap operasional karena berbagai langkah pencegahan sudah dilakukan.

Menurut Nico, Vale telah melakukan ber-bagai langkah untuk mengantisipasi dan mengurangi dampak potensial dari penye-baran Covid-19 terhadap operasi Vale. Sementara kesehatan dan keselamatan tetap menjadi prioritas utama, Vale berkomitmen untuk melanjutkan kegiatan -kegiatan produksi dan proyek sejauh mungkin.

“Kami menghargai kerja keras seluruh karyawan di PT Vale untuk mencapai hasil yang baik pada triwulan ini, meskipun harus fokus mengantisipasi kemungkinan dampak COVID-19 pada operasi kami,” ujar Nico. (RI)

Maintain Profits, PTBA Boss Reveals Efficiency Strategy in

Pandemic Era

PT BUKIT Asam Tbk (PTBA) focuses on

efficiency at the production scale as an anticipation of a decrease in coal prices and a decrease in demand during the Covid-19 pandemic. One of the efforts made by the company is to cut the hauling distance from the mining area to reduce costs, so even though there is a decrease in margins, it is still maintained.

"As long as there is still a margin, we will continue to carry out production activities and I am sure that with the PTBA mine structure, we can build or find a location with low mining costs," said PT Bukit Asam President Director Arviyan Arifin to CNBC Indonesia, Wednesday (26/08/2020).

Jaga Laba, Bos PTBA Ungkap Strategi Efisiensi di Era

Pandemi

PT BUKIT Asam Tbk (PTBA) fokus pada

efisiensi di skala produksi sebagai antispasi penurunan harga batu bara dan penurunan permintaan di masa pandemi Covid-19. Salah satu upaya yang dilakukan perusahaan adalah memangkas jarak angkut dari area penambangan untuk menekan biaya, dengan begitu meski ada penurunan margin masih terjaga.

"Sepanjang masih ada margin kami akan terus melakukan kegiatan produksi dan saya yakin dengan struktur tambang PTBA, kami bisa membuat atau mencari lokasi yang biaya penambangannya rendah," kata Direktur Utama PT Bukit Asam Arviyan Arifin kepada CNBC Indonesia, Rabu (26/08/2020).

IMA-Daily Update Page 7

He said that currently PTBA has succeeded in reducing the shipping ratio by around 20%, and the transport distance that was previously above 3 km is now being cut to under 2 km and the excess is directly placed next to the mining area. In total, PTBA is currently carrying out 15% cost efficiency, so it is hoped that the Hpp of coal can decrease.

"The main posts of the coal business are mining and logistics, both of which are the main things if you want efficiency," he said.

Arviyan said that currently the decline in demand was decreasing, especially from industries that had stopped operating due to the Covid-19 pandemic, due to reduced electricity consumption. As a result, producers do not export coal to countries that are under lockdown so that demand is reduced, stocks are abundant, and prices are far away.

He emphasized that as long as the company can make efficiency, then reducing production is not the main choice for the company. This is because if you reduce production the impact will be greater because the company has invested in mining equipment.

"For me, the company can make efficiency and there is still a margin. Of course we will continue to adjust production according to the initial plan (30.3 million tons)," he said.

In terms of sales, according to Arviyan, PTBA is actually quite safe because it has long-term business contracts, for example, with PLN which contributes nearly 65%. In addition, there are long-term buyers' contracts from other countries so sales are still relatively safe.

"But in terms of price, we cannot avoid falling because even though the contract is long term, the price is based on the index," said Arviyan. (dob/dob)

Dia mengatakan saat ini PTBA telah berhasil menurunkan shipping ratio sekitar 20%, dan jarak angkut yang semula bisa di atas 3 km saat ini dipangkas menjadi di bawah 2 km dan kelebihan langsung ditempatkan di samping area penambangan. Secara total PTBA saat ini telah melakukan efisiensi biaya 15% dengan begitu diharapkan Hpp batu bara bisa turun.

"Post utama dari bisnis batubara adalah pe-nambangan dan logistik, dua-duanya adalah hal utama kalau mau efisiensi," katanya.

Arviyan mengatakan saat ini penurunan permintaan berkurang terutama dari industri yang banyak berhenti beroperasi karena pandemi Covid-19, karena pemakaian listrik berkurang. Akibatnta produsen pun tidak mengekspor batu bara ke negara-negara yang melakukan lockdown sehingga permintaan berkurang, stok berlimpah, dan harga pun jauh.

Dia menegaskan selama perusahaan bisa melakukan efisiensi, maka pengurangan produksi bukanlah pilihan utama yang di-ambil perusahaan. Pasalnya jika mengurangi produksi dampaknya akan lebih besar karena perusahaan telah melakukan investasi alat pertambangan.

"Buat saya, perusahaan bisa melakukan efisiensi dan masih ada margin tentunya kami akan terus menyesuaikan produksi dengan rencana awal (30,3 juta ton)," kata-nya.

Secara penjualan menurut Arviyan, PTBA sebenarnya cukup aman karena memiliki kontrak bisnis jangka panjang, misalnya saja dengan PLN yang berkontribusi hampir 65%. Selain itu masih ada kontrak longterm buyer dari negara lainnya sehingga penjualan relatif masih aman.

"Tapi kalau dari sisi harga kami tidak bisa menghindari kejatuhan karena walaupun long term kontrak tetapi harga berdasarkan kepada index," jelas Arviyan. (dob/dob)

IMA-Daily Update Page 8

United Tractor (UNTR) Cut Performance Projections, from

Gold to Coal Business Finna U. Ulfah

PT UNITED Tractors Tbk. cut operational

performance guidelines that were set at the beginning of this year in line with the many business challenges caused by the Covid-19 pandemic.

United Tractors Director Iwan Hadiantoro said that the Covid-19 pandemic did not only disrupt business operations. The pandemic is said to have an impact on the decline in the commodity market, especially coal, thus putting pressure on almost all of the company's business lines.

This prompted the company to adjust its operational guidelines so that they are lower than those set at the beginning of this year, as well as last year's realization.

The issuer coded UNTR shares cut the gold sales target at the Martabe mine controlled by a subsidiary of PT Agincourt Resources to only 255,000 ounces to 300,000 ounces by the end of 2020.

Initially, UNTR set a gold sales target in the range of 360,000 ounces which is also lower than last year's target of 400,000 ounces in line with mining from deeper layers so that the gold content will be lower.

"The Martabe mine is not yet normal because of Covid-19, so there are still restrictions on mining operations. With this condition, we expect Martabe to sell at the end of the year at the level of 255,000 - 300,000 ounces," said Iwan at Pubex Live 2020, Tuesday (25/8/2020).

United Tractor (UNTR) Pangkas Proyeksi Kinerja, dari Bisnis

Emas hingga Batu Bara Finna U. Ulfah

PT UNITED Tractors Tbk. memangkas

panduan kinerja operasional yang sudah ditetapkan pada awal tahun ini seiring dengan banyaknya tantangan bisnis akibat pandemi Covid-19.

Direktur United Tractors Iwan Hadiantoro mengatakan bahwa pandemi Covid-19 tidak hanya mengganggu operasional bisnis. Pandemi disebut berimbas terhadap penurunan pasar komoditas, terutama batu bara, sehingga menekan hampir semua lini bisnis perseroan.

Hal itu mendorong perseroan menyesuaikan panduan operasional sehingga menjadi lebih rendah daripada yang sudah ditetapkan pada awal tahun ini, maupun realisasi tahun lalu.

Emiten berkode saham UNTR itu memangkas target penjualan emas di tambang martabe yang dikendalikan oleh anak usaha PT Agincourt Resources menjadi hanya sebesar 255.000 ons hingga 300.000 ons hingga akhir 2020.

Semula, UNTR mematok target penjualan emas di kisaran 360.000 ons yang juga lebih rendah dibandingkan target tahun lalu sebesar 400.000 ons seiring dengan penambangan dari lapisan yang lebih dalam sehingga kandungan emasnya akan lebih rendah.

“Tambang Martabe belum normal karena covid-19 sehingga masih ada pembatasan mining operation. Dengan kondisi ini kami ekspektasi Martabe di akhir tahun penjualan menjadi di level 255.000 - 300.000 ons,” ujar Iwan pada Pubex Live 2020, Selasa (25/8/2020).

IMA-Daily Update Page 9

Iwan also explained that , with the assumption that the Covid-19 pandemic will improve, the company will increase its martabe mining operations so that it can sell around 350,000 ounces again.

For the mining contractor business line through PT Pamapersada Nusantara, the pandemic has also hit partners so that the company expects a decline in performance of around 15 percent compared to last year's realization.

UNTR changed its performance guidelines to 110 million for production volume and 810 million bcm for overburden removal (OB) by the end of this year. That figure is lower than the previous guideline of 130 million for production volume.

Meanwhile, the company is cutting coal sales through PT Tuah Turangga Agung to 7.5 million tons to 8 million tons. Meanwhile, the total sales included 1.2 million tons for coking coal.

UNTR has also cut its sales target for Komatsu heavy equipment to only 1,300 to 1,400 units from the original 2,900 units. The Astra Group entity is also targeting sales of Scania and UD Trucks of 200 units each. Editor: Rivki Maulana

Iwan pun menjelaskan, untuk tahun depan dengan asumsi pandemi Covid-19 membaik perseroan akan meningkatan operasional tambang martabe sehingga bisa kembali menjual sekitar 350.000 ons.

Untuk lini bisnis kontraktor pertambangan melalui PT Pamapersada Nusantara, pandemi juga menghantam mitra kerja sehingga perseroan mengekspektasikan adanya penurunan kinerja sekitar 15 persen dibandingkan realisasi tahun lalu.

UNTR mengubah panduan kinerja menjadi 110 juta untuk volume produksi dan 810 juta bcm untuk overburden removal (OB) hingga akhir tahun ini. Angka itu lebih rendah daripada panduan sebelumnya sebesar 130 juta untuk volume produksi.

Sementara itu, perseroan memangkas pen-jualan batu bara melalui PT Tuah Turangga Agung menjadi sebesar 7,5 juta ton hingga 8 juta ton. Adapun, dari total penjualan itu termasuk 1,2 juta ton untuk batu bara jenis coking coal.

UNTR juga telah memangkas target penjualan alat berat Komatsu menjadi hanya sebesar 1.300 hingga 1.400 unit dari semula sebesar 2.900 unit. Entitas Grup Astra itu juga me-nargetkan penjualan Scania dan UD Trucks masing-masing sebesar 200 unit. Editor : Rivki Maulana

Gold Prices Rise, Antam's Opportunity to Increase Production

at Pongkor and Cibaliung Gold Mine

SINCE the beginning of the Covid19

pandemic outbreak around the world, the price of gold has continued to increase.

Kesempatan Harga Emas Naik, Antam Tingkatkan Produksi Tambang Emas Pongkor dan

Cibaliung

SEJAK awal wabah pandemi Covid19

merebak di seluruh dunia, harga emas pun terus mengalami kenaikan.

IMA-Daily Update Page 10

Despite several corrections, the world gold price continues to rise in trend. This has

prompted gold mining companies to boost their production capacity, one of which is

what PT Aneka Tambang (ANTM) has done.

Kunto Hendrapawoko, as Antam's SVP

Corporate Secretary, said that the company will continue to increase its gold

commodity production capacity, particularly in the two mines. The two

mines in question are the Pongkor gold mine in West Java and the Cibaliung gold

mine in Banten. The current gold production capacity is known to reach 2

tons per year.

Recently, the trend that has occurred is not

only in absolute gold price increases, but also due to the increasing demand for gold

commodities in the domestic market. Therefore, Antam will continue to do its

utmost to strengthen its gold customer base in the country.

Since March 2020, the price of gold has been able to drive the company's

performance in positive numbers for reports per the first half of this year. The

profit generated is known to have reached Rp 495.16 billion with total sales of 7,915

kg or 254,505 troy ounces.

When compared to the same period last year on a year-on-year basis, this increase

in profit grew by 111 percent which only stood at Rp 234.94 billion. Meanwhile,

sales are actually smaller than the same period in 2019, namely 15,741 kg or

506,084 troy ounces.

From the year-on-year comparison, it can

be concluded that despite the decline in sales figures, Antam was able to generate

higher profits.

Meski beberapa kali terjadi koreksi, namun secara tren harga emas dunia terus naik. Hal ini membuat para perusahaan tambang emas menggenjot kapasitas produksi mereka, salah satunya seperti yang dilaku-kan oleh PT Aneka Tambang (ANTM).

Kunto Hendrapawoko selaku SVP Corporate Secretary Antam mengatakan jika perusahaan akan terus meningkatkan kapasitas produksi komoditas emas mereka, khususnya di dua tambang. Kedua tambang yang dimaksud yakni tambang emas Pongkor yang ada di Jawa Barat dan juga tambang emas Cibaliung yang ada di Banten. Kapasitas produksi emas saat ini diketahui bisa mencapai angka 2 ton per tahun.

Belakangan ini tren yang terjadi tidak hanya pada kenaikan harga emas secara mutlak, namun juga dikarenakan semakin bertambahnya permintaan komoditas emas di pasar domestik. Oleh sebab itu, Antam akan terus berupaya maksimal guna memperkuat basis pelanggan emas di tanah air.

Sejak Maret 2020, harga emas mampu mendorong kinerja perusahaan di angka yang positif untuk laporan per semester pertama tahun ini. Laba yang dihasilkan diketahui mencapai Rp495,16 miliar dengan jumlah penjualan di angka 7.915 kg atau 254.505 troy ons.

Jika dibandingkan untuk periode yang sama tahun lalu secara year-on-year, peningkatan laba ini tumbuh sebanyak 111 persen yang hanya berada di angka Rp234,94 miliar. Sementara untuk pen-jualannya justru lebih kecil dibandingkan periode yang sama tahun 2019 yakni sebesar 15.741 kg atau 506.084 troy ons.

Dari perbandingan secara year-on-year itu, bisa disimpulkan bahwa meski terjadi penurunan angka penjualan namun Antam mampu mencetak laba yang lebih besar.

IMA-Daily Update Page 11

Meanwhile, when viewed from a year-on-year basis, the price of gold has indeed strengthened quite significantly, namely by 31.38 percent. Author: Edo Fernando, Editor: Ocky PR.

Sementara itu, jika dilihat secara year-on-year harga emas memang mengalami penguatan cukup signifikan yakni sebesar 31,38 persen. Penulis : Edo Fernando, Editor : Ocky PR.

After the divestment, Vale

Indonesia (INCO) opens synergy options with other mining SOEs

Reporter: Akhmad Suryahadi | Editor: Khomarul Hidayat, Herlina Kartika Dewi

THE MINING holding of state-owned

enterprises (SOEs), namely Mining Industry Indonesia (MIND ID) is just one step away from controlling 20% of the shares of PT Vale Indonesia Tbk (INCO). The sale of INCO shares is targeted to be completed by the end of 2020.

Bernardus Irmanto, Finance Director of Vale Indonesia, said the divestment of 20% INCO shares gave a new feel to the nickel producer company. Even with this divestment, INCO has opened options to synergize with other mining SOEs, such as PT Aneka Tambang Tbk (ANTM), which both produce nickel.

Previously, to Kontan.co.id, Bernardus said, the synergy option between INCO and ANTM could occur. This is because INCO plans to build a high pressure acid leaching process (HPAL) in Pomalaa. Meanwhile, ANTM already has the infrastructure there. Thus, the two parties could explore the possibility of a synergy.

After this divestment too, MIND ID will also have representatives of the board of commissioners and directors within INCO. However,...

Pasca divestasi, Vale Indonesia

(INCO) buka opsi sinergi dengan BUMN tambang lain

Reporter: Akhmad Suryahadi | Editor: Khomarul Hidayat, Herlina Kartika Dewi

HOLDING pertambangan badan usaha milik

negara (BUMN), yakni Mining Industry Indonesia (MIND ID) tinggal selangkah lagi menguasai 20% saham PT Vale Indonesia Tbk (INCO). Adapun transaksi penjualan saham INCO ditargetkan akan selesai pada akhir tahun 2020.

Bernardus Irmanto, Direktur Keuangan Vale Indonesia mengatakan, divestasi 20% saham INCO memberi nuansa baru kepada per-usahaan produen nikel tersebut. Dengan adanya divestasi ini pun, INCO membuka opsi bersinergi dengan BUMN tambang lain, seperti dengan PT Aneka Tambang Tbk (ANTM) yang sama-sama memproduksi nikel.

Sebelumnya, kepada Kontan.co.id, Bernardus mengatakan, opsi sinergi antara INCO dengan ANTM bisa saja terjadi. Hal ini karena INCO berencana untuk membangun high pressure acid leaching process (HPAL) di Pomalaa. Sementara itu, ANTM telah memiliki infrastruktur di sana. Dus, kemungkinan sinergi bisa saja dijajaki oleh kedua belah pihak.

Setelah adanya divestasi ini juga, MIND ID juga akan memiliki perwakilan dewan komisaris dan direksi di dalam tubuh INCO. Namun,...

IMA-Daily Update Page 12

However, the inclusion of MIND ID into INCO's structure does not change the strategic plan that has been prepared by INCO. From the results of coordination, the plans to be carried out by MIND ID are still in line and in line with INCO.

"Apart from that, the inclusion of MIND ID also strengthens the relationship with stake-holders, especially the government. We want to be a trusted partner for the govern-ment,” said Bernardus.

After the divestment transaction is completed, INCO's share ownership will change to 44.3% Vale Canada Limited (VCL), 20% MIND ID, Sumitomo Metal Mining Co., Ltd. (SMM) as much as 15%, and public ownership as much as 20.7%.

This year, the capex will be disbursed at US$ 120 million

PT Vale Indonesia Tbk (INCO) is pouring capital expenditure (capex) worth US$ 110 million to US$ 120 million this year.

Vale Indonesia's Finance Director Bernardus Irmanto said this allocation was lower than last year's capex realization which reached US$ 166.6 million. The capex absorption in 2019 is quite large considering the planned maintenance project Larona Kanal.

"Details of the use of this year's capex are for the rejuvenation of mining equipment and mining development," said Bernardus during a virtual public expose, Wednesday (26/8).

One of the factors causing the lower capex allocation this year is the postponement of the furnace 4 rebuild project to the next year, which was originally scheduled for the fourth quarter of 2020.

Meanwhile, INCO spent around US$ 44.3 million for capital expenditures in the second quarter, up from the absorption in the previous quarter which was only US$ 33.0 million.

Namun, masuknya MIND ID ke struktur INCO tidak mengubah rencana strategis yang telah disusun oleh INCO. Dari hasil koordinasi, rencana yang akan dilakukan MIND ID pun masih selaras dan sejalan dengan INCO.

“Selain itu, masuknya MIND ID juga mem-perkuat hubungan dengan stakeholder khususnya pemerintah. Kami ingin menjadi partner terpercaya bagi pemerintah,” ujar Bernardus.

Setelah transaksi divestasi kelar, kepe-milikan saham INCO akan berubah menjadi Vale Canada Limited (VCL) sebesar 44,3%, MIND ID sebesar 20%, Sumitomo Metal Mining Co., Ltd. (SMM) sebanyak 15%, dan kepemilikan publik sebanyak 20,7%.

Tahun ini gelontorkan capex US$ 120 juta

PT Vale Indonesia Tbk (INCO) meng-gelontorkan belanja modal atau capital expenditure (capex) senilai US$ 110 juta sampai US$ 120 juta tahun ini.

Direktur Keuangan Vale Indonesia Bernardus Irmanto mengungkapkan, alokasi ini lebih rendah dibandingkan dengan realisasi capex tahun lalu yang mencapai US$ 166,6 juta. Serapan capex pada 2019 cukup besar mengingat adanya proyek pemeliharaan terencana Larona Kanal.

“Rincian penggunaan capex tahun ini ada untuk peremajaan alat tambang dan mining development,” papar Bernardus saat paparan publik secara virtual, Rabu (26/8).

Salah satu faktor penyebab lebih rendahnya alokasi capex tahun ini adalah ditundanya proyek pembangunan ulang (rebuild) tanur listrik 4 ke tahun depan, yang semula dijadwalkan pada kuartal keempat 2020.

Adapun INCO telah mengeluarkan sekitar US$ 44,3 juta untuk belanja modal pada triwulan kedua, naik dari serapan triwulan sebelumnya yang hanya US$ 33,0 juta.

IMA-Daily Update Page 13

This capex absorption is mainly for the rejuvenation of mining equipment. So that in total, this nickel-producing issuer has spent US$ 77.3 million in capex during the first six months of 2020.

Furthermore, Bernardus said that INCO's strategic projects which are located in Pomalaa and Bahodopi continue to roll. For the smelter project in Pomalaa, INCO is in the stage of finalizing the final investment decision (FID).

Bernardus said technical requirements such as Environmental Impact Analysis (Amdal) had been obtained for the Pomalaa project. Meanwhile, the Borrowing and Use of Forest Area Permits (IPPKH) is in process.

A number of requirements have also been completed to develop this prestigious US$ 2.5 billion project. "In the near future we will get IPPKH Pomalaa," he continued.

Bernardus hopes that all the requirements can be met in the first semester of 2021. After that, investment decisions will be made. Bernardus is optimistic that this target can be met because INCO has not encountered any problems in licensing. Moreover, this investment has received support from the government, especially the Investment Coordinating Board (BKPM).

As for the smelter in Bahodopi, Bernardus admitted that the progress of licensing in this project was running slower than Pomalaa due to the pandemic. The Amdal survey, public discussion, and IPPKH require field surveys, which were limited due to the Covid-19 pandemic.

INCO is currently completing the FID requirements and technical studies. Although he did not mention a specific name, Bernardus said that the strategic partners working with this project came from China.

Serapan capex ini utamanya untuk peremajaan alat-alat pertambangan. Sehingga jika ditotal, emiten penghasil nikel ini telah menghabiskan belanja modal US$ 77,3 juta selama enam bulan pertama 2020.

Lebih lanjut, Bernardus mengatakan proyek strategis INCO yang terletak di Pomalaa dan Bahodopi terus bergulir. Untuk proyek smelter di Pomalaa, INCO sedang dalam tahap penyelesaian final investment decision (FID).

Bernardus mengatakan, syarat teknis seperti Analisis Dampak Lingkungan (Amdal) telah diperoleh untuk proyek Pomalaa. Sementara Izin Pinjam Pakai Kawasan Hutan (IPPKH) sedang dalam proses.

Sejumlah persyaratan pun sudah dilengkapi untuk mengembangkan proyek prestisius senilai US$ 2,5 miliar ini. ”Dalam waktu dekat IPPKH Pomalaa akan segera kami dapatkan,” sambung dia.

Bernardus berharap, semua persyaratan sudah dapat dipenuhi pada semester I-2021. Setelahnya, keputusan investasi akan bisa diambil. Bernardus optimis target ini bisa terpenuhi karena INCO tidak menemukan kendala dalam perizinan. Terlebih, investasi ini mendapat dukungan dari pemerintah khususnya Badan Koor-dinasi Penanaman Modal (BKPM).

Sementara untuk smelter di Bahodopi, Bernardus mengakui kemajuan perizinan di proyek ini berjalan lebih lambat dibanding Pomalaa akibat adanya pandemi. Survei Amdal, diskusi publik, dan IPPKH mem-butuhkan survei lapangan, yang sempat dibatasi akibat pandemi Covid-19.

Saat ini INCO sedang menyelesaikan persyaratan FID dan studi teknis. Meski tidak menyebut nama spesifik, Bernardus mengatakan mitra strategis yang digandeng dalam proyek ini berasal dari China.

IMA-Daily Update Page 14

In the Next Eight Years, the Need for Coal Fired Power Plant

Will Reduce Denis Riantiza Meilanova

THE PROJECTION of coal demand for

steam power plants in the next 8 years is estimated to be corrected.

President Director of PT PLN Zulkifli Zaini said that based on the 2019 -2028 Electricity Supply General Plan, the need for coal for the steam power plant (PLTU) in 2028 is estimated to reach 152.63 million tons. However, this projection is expected to be slightly missed due to the Covid-19 pandemic.

"With the condition of Covid-19 declining slightly in 2028 from 153 million tons to a slight decrease of 141.42 million tons based on the 2020-2029 RUPTL," he said at a hearing with Commission VII DPR, Tuesday (25/8/2020).

This year, coal demand for PLTU is projected to reach 109 million tons. The demand for coal will continue to increase to 121 million tonnes next year and 129 million tonnes in 2022.

The use of coal for electricity supply decreased because during the Covid-19 pandemic electricity consumption also decreased.

Previously it was reported, the Ministry of EMR noted that PLN's electricity consump-tion from January to July 2020 reached 138.63 TWh or only grew by 0.51 percent compared to the same period last year.

The highest consumption growth came from the household customer sector, which grew up to 10.08 percent. The increase also occurred in the traction,...

Sewindu Mendatang, Kebutuhan Batu Bara PLTU Bakal

Berkurang Denis Riantiza Meilanova

PROYEKSI kebutuhan batu bara untuk

pembangkit listrik tenaga uap dalam 8 tahun mendatang diperkirakan terkoreksi.

Direktur Utama PT PLN Zulkifli Zaini mengatakan bahwa berdasarkan Rencana Umum Penyediaan Tenaga Listrik 2019-2028, kebutuhan batu bara untuk pem-bangkit listrik tenaga uap (PLTU) pada 2028 diperkirakan mencapai 152,63 juta ton. Namun, proyeksi tersebut diperkirakan sedikit meleset karena pandemi Covid-19.

"Dengan kondisi Covid-19 agak sedikit menurun pada 2028 dari 153 juta ton jadi sedikit turun 141,42 juta ton berdasarkan RUPTL 2020-2029," katanya dalam rapat dengar pendapat dengan Komisi VII DPR, Selasa (25/8/2020).

Tahun ini, kebutuhan batu bara untuk PLTU diproyeksikan mencapai 109 juta ton. Kebutuhan batu bara akan terus meningkat menjadi 121 juta ton pada tahun depan dan 129 juta ton pada 2022.

Pemakaian batu bara untuk pasokan listrik menurun karena semasa pandemi Covid-19 konsumsi listrik juga mengalami penu-runan.

Sebelumnya diberitakan, Kementerian ESDM mencatat konsumsi listrik PLN Januari-Juli 2020 mencapai 138,63 TWh atau hanya tumbuh sebesar 0,51 persen dibandingkan periode yang sama tahun lalu.

Pertumbuhan konsumsi paling tinggi berasal dari sektor pelanggan rumah tangga yang bertumbuh hingga 10,08 persen. Peningkatan juga terjadi pada golongan traksi,...

IMA-Daily Update Page 15

The increase also occurred in the traction, bulk, and special services category which rose 40.16 percent, while the government sector grew 0.71 percent, along with the commencement of activities in the office.

Meanwhile, electricity consumption in the business sector fell 7.43 percent, industry fell 8.22 percent, and social fell 1.64 percent. Editor: Zufrizal

Peningkatan juga terjadi pada golongan traksi, curah, dan pelayanan khusus yang naik 40,16 persen, sedangkan sektor pemerintah tumbuh 0,71 persen, seiring dimulainya aktivitas di kantor.

Sementara itu, konsumsi listrik di sektor bisnis tercatat turun 7,43 persen, industri turun 8,22 persen, dan sosial turun 1,64 persen. Editor : Zufrizal

When Will Coal Prices Rebound? This is a Cue from the PTBA Boss Rahajeng Kusumo Hastuti, CNBC Indonesia

PRESIDENT Director of PT Bukit Asam

Tbk (PTBA) Arviyan Arifin is optimistic

that after the Covid-19 vaccine the demand

for coal can return to normal as before the

pandemic.

Currently, the company focuses on

efficiency at the production scale by

cutting the hauling distance from the

mining area to reduce costs, so that even if

there is a price reduction, margins are still

maintained.

"Commodities have cycles, there must be

ups and downs, now the time is down. God

willing, it will rebound in the future," he

told CNBC Indonesia, Wednesday (26/08/

2020).

He added that PTBA is actually quite safe

because it has long-term business

contracts, for example, with PLN which

contributes nearly 65%. In addition, there

are long-term buyers' contracts from other

countries so sales are still relatively safe.

Kapan Harga Batubara Rebound? Ini Petunjuk dari Bos PTBA

Rahajeng Kusumo Hastuti, CNBC Indonesia

DIREKTUR Utama PT Bukit Asam Tbk

(PTBA) Arviyan Arifin optimistis setelah

adanya vaksin Covid-19 permintaan batu bara bisa normal kembali seperti sebelum

terjadinya pandemi ini.

Saat ini perusahaan fokus pada efisiensi di

skala produksi dengan memangkas jarak angkut dari area penambangan untuk

menekan biaya, dengan begitu kalaupun ada penurunan harga, margin masih tetap

terjaga.

"Yang namanya di komoditas ada siklus

kan pasti ada naik dan turun, sekarang masanya turun. Insyaallah akan rebound

ke depannya," katanya kepada CNBC Indonesia, Rabu (26/08/2020).

Dia menambahkan PTBA sebenarnya cukup aman karena memiliki kontrak

bisnis jangka panjang, misalnya saja dengan PLN yang berkontribusi hampir

65%. Selain itu masih ada kontrak long-term buyer dari negara lainnya sehingga

penjualan relatif masih aman.

IMA-Daily Update Page 16

"But in terms of price, we cannot avoid falling because even though the contract is

long term, the price is based on the index," explained Arviyan.

However, he admits that if conditions do not improve, and the margins are negative,

then a 10-1% reduction in production will be carried out as determined by the Coal

Association. Pruning is done as the last step to keep prices from falling deeper

later.

"We will observe a maximum of 20 percent

if efficiency measures do not have an impact on anticipating price reductions

and if our margins turn negative, we will reduce them," he said.

Arviyan also said that the company cannot always rely on coal sales and must leave

commodity traps that have a certain cycle. The most obvious step taken by the

company is to downstream coal , for example by selling in electricity products

through mine-mouth power plants.

Currently that is already running, namely

the PLTU with a capacity of 2x125 MW, and is currently completing the 2x600 MW

PLTU as part of diversi fication, and avoiding fluctuating commodity prices. In

addition, the company will also gasify coal into added value products such as

dimetylether (DME) for imported LPG raw materials.

In addition, the company is also developing solar panels and utilizing the reclaimed ex-

mining land for large capacity solar power plants.

"The 2x125 MW PLTU is already running even though its contribution is still below

3%. The 2 x 600 MW construction progress is now 45% and COD is 2022. In the

future...

"Tapi kalau dari sisi harga kami tidak bisa menghindari kejatuhan karena walaupun longterm kontrak tetapi harga berdasarkan kepada index," jelas Arviyan.

Meski demikian dia mengakui jika kondisinya tidak kunjung membaik, dan margin sampai negatif maka akan dilakukan pengurangan produksi 10-1% seperti yang telah ditentu-kan oleh Asosiasi Batu Bara. Pemangkasan dilakukan sebagai langkah terakhir untuk menahan harga jatuh semakin dalam nanti-nya.

"Kami akan amati, paling banyak 20% kalau memang langkah efisiensi tidak memberikan dampak terhadap antisipasi penurunan harga dan kalau margin kami menjadi negatif ya akan kurangi," katanya.

Arviyan juga mengatakan perusahaan tidak bisa selalu mengandalkan penjualan batu bara dan harus keluar dari comodity trap yang memiliki siklus tertentu. Langkah paling nyata yang dilakukan perusahaan adalah melakukan hilirisasi batu bara, misalnya dengan menjual dalam produk listrik melalui pembangkit listrik mulut tambang.

Saat yang sudah berjalan yakni PLTU dengan kapasitas 2x125 MW, dan tengah menye-lesaikan untuk PLTU 2x600 MW sebagai bagian dari diversifikasi, dan terhindar dari harga komoditi yang naik turun. Selain itu perusahaan juga akan melakukan gasifikasi batu bara menjadi produk bernilai tambah seperti dimetylether (DME) untuk bahan baku LPG yang masih impor.

Selain itu perusahaan juga mengembangkan solar panel dan memanfaatkan lahan bekas tambang yang direklamasi untuk pembangkit listrik tenaga surya dengan kapasitas besar.

"PLTU 2x125 MW sudah jalan meski kontri-businya masih di bawah 3%. Yang 2 x 600 MW ini sekarang lagi konstruksi progresnya 45% dan COD 2022. Ke depannya...

IMA-Daily Update Page 17

In the future the company will have revenue other than coal. Gasification will start signing the EPC contract and its construction in 1999. We are currently preparing business-related matters and others," he explained. (dob/dob)

Ke depannya perusahaan akan ada penda-patan selain dari batu bara. Gasifikasi akan mulai penandatangan EPC kontrak dan pembangunannya di tahun ini, kami sedang siapkan hal yang terkait bisnis dan yang lainnya," jelasnya. (dob/dob)

Continuously Pressed, Coal Rages and Prices Return to Level

of US$50 Tirta Citradi, CNBC Indonesia

COAL prices are starting to show signs of an

increase after subsiding to their lowest level in four years. However, this increase still does not reflect its fundamentals.

In yesterday's trade, Wednesday (26/8/2020) the Newcastle reference thermal coal price for actively traded contracts rose 2.46% to US$ 50/ton.

The price increase is more reflective of technical factors, given that the funda-mentals are still porous. Demand for black coal imports from its two largest consumers, namely India and China, has made the seaborne market sluggish.

The decline in electricity consumption in India's commercial and industrial sectors made the country have time to put the brakes on coal imports, especially when the lockdown was implemented. However, along with the easing of the lockdown, India tends to limit its imports to boost domestic demand.

The same is done in China. Panda Country's coal imports were excessive. Now Chinese imports are starting to be held. At a time when China is holding back its imports, other markets such as Japan cannot be expected much.

Ditekan Terus, Batu Bara Ngamuk & Harga Balik ke Level

US$ 50 Tirta Citradi, CNBC Indonesia

HARGA batu bara mulai menunjukkan

adanya sinyal kenaikan setelah ambles ke level terendah dalam empat tahun terakhir. Namun kenaikan ini masih belum mencer-minkan fundamentalnya.

Pada perdagangan kemarin, Rabu (26/8/ 2020) harga batu bara termal acuan Newcastle untuk kontrak yang aktif ditransaksikan menguat 2,46% ke US$ 50/ton.

Kenaikan harga ini lebih mencerminkan faktor teknikal saja, mengingat fundamental-nya yang masih keropos. Permintaan impor si batu hitam dari dua konsumen terbesarnya yaitu India dan China membuat pasar batu bara lintas laut (seaborne) lesu.

Penurunan konsumsi listrik di sektor komersial dan industri India membuat negara tersebut sempat mengerem impor batu baranya, ter-utama saat lockdown diterapkan. Namun seiring dengan pelonggaran lockdown dilakukan India cenderung membatasi impornya untuk men-dongkrak permintaan domestik.

Hal yang sama juga dilakukan di China. Impor batu bara Negeri Panda sempat jor-joran. Kini impor China pun mulai ditahan. Di saat China menahan impornya, pasar lain seperti Jepang pun tak bisa diharapkan banyak.

IMA-Daily Update Page 18

Based on data from the Japanese Ministry of Finance, the Sakura State thermal coal imports reached 8.9 million tons in July, down 14% over the same period last year.

Meanwhile, if you look at the January-July period, Japan's total coal imports reached 62.1 million tons or decreased by 3.6% compared to the same period in 2019.

Japanese coal imports from Russia and Indonesia have tended to be flat this year. This means that imports from Australia and North America have experienced a deeper decline. The weak demand for the power generation sector during the Covid-19 outbreak caused the demand for fossil fuels to fall.

Even the availability of alternative energy sources such as nuclear has decreased due to maintenance and upgrades. This is the factor that triggers the current drop in coal prices.

Turning to the US, Reuters reports that coal-fired power plants will close this year.

Citing data from the US Energy Information Administration (EIA) and Thomson Reuters, the US stun company hopes to shut down or convert coal-to-gas power plants with a capacity of more than 9,100 megawatts (MW) this year. Previously they had closed around 15,000 MW in 2019.

The capacity of the power plants that were closed in 2019 was the second highest after 2015 when the plant that was laid down had a capacity of above 19,300 MW. As an illustration, one megawatt can power about 1,000 US homes.

US coal power capacity peaked over 317,600 MW in 2011, according to EIA data. But it has decreased every year since then and has fallen to around 227,400 MW by the end of 2019. The total generating capacity in the United States -...

Berdasarkan data Kementerian Keuangan Jepang, impor batu bara termal Negeri Sakura tercatat mencapai 8,9 juta ton di bulan Juli atau turun 14% dibanding periode yang sama tahun lalu.

Sementara jika dilihat pada periode Januari-Juli total impor batu bara Jepang mencapai 62,1 juta ton atau turun 3,6% dibanding periode yang sama tahun 2019.

Impor batu bara Jepang dari Rusia dan Indonesia cenderung flat tahun ini. Itu artinya impor dari Australia dan Amerika Utara mengalami penurunan yang lebih dalam. Lemahnya permintaan terhadap sektor pembangkit listrik semasa wabah Covid-19 merebak permintaan terhadap bahan bakar fosil pun turun.

Bahkan ketersediaan sumber energi alternatif seperti nuklir pun turun karena adanya perawatan (maintenance) serta upgrade. Ini lah yang menjadi faktor pemicu anjloknya harga batu bara saat ini.

Beralih ke AS, Reuters melaporkan akan ada pembangkit listrik yang menggunakan batu bara ditutup tahun ini.

Mengutip data Administrasi Informasi Energi AS (EIA) dan Thomson Reuters, perusahaan setrum AS berharap untuk menutup atau mengubah pembangkit listrik batu bara menjadi gas dengan kapasitas lebih dari 9.100 megawatt (MW) di tahun ini. Sebelumnya mereka telah menutup sekitar 15.000 MW pada tahun 2019.

Kapasitas pembangkit yang ditutup pada tahun 2019 adalah yang tertinggi kedua setelah tahun 2015 ketika pembangkit yang diberhentikan kapasitasnya di atas 19.300 MW. Sebagai gambaran, satu megawatt dapat memberi daya pada sekitar 1.000 rumah di AS.

Kapasitas tenaga batu bara AS mencapai puncaknya di atas 317.600 MW pada tahun 2011, menurut data EIA. Namun menurun setiap tahun sejak itu dan turun menjadi sekitar 227.400 MW pada akhir 2019. Total kapasitas pembangkit di Amerika Serikat -...

IMA-Daily Update Page 19

The total generating capacity in the United States - including coal , natural gas,

renewable energy, and nuclear - is around 1.1 million MW in 2019.

Cheap gas prices and the increasing use of

renewable resources have kept electricity prices relatively low in recent years.

This makes it less economical for

generators to continue to operate older, less efficient coal plants, especially for

those requiring upgrades to meet increasingly stringent government

regulations and state environments.

Coal has been the primary fuel for US

electricity generation for more than the last century. But its use has declined since

peaking in 2007. At that time, drillers found an economical way to pull gas out of

shale rock formations.

Gas began replacing coal as the main fuel for US power plants in 2016. Reuters

reports it takes about 175 million cubic feet of gas per day to produce about 1,000

MW. RESEARCH TEAM CNBC INDONESIA

(twg/twg)

Total kapasitas pembangkit di Amerika Serikat - termasuk batubara, gas alam, energi terbarukan, dan nuklir - sekitar 1,1 juta MW pada 2019.

Harga gas yang murah dan meningkatnya penggunaan sumber daya terbarukan telah membuat harga listrik relatif rendah dalam beberapa tahun terakhir.

Hal ini membuat tingkat keekonomisan men-jadi berkurang bagi generator untuk terus mengoperasikan pembangkit batu bara yang lebih tua dan kurang efisien, terutama bagi mereka membutuhkan upgrade untuk meme-nuhi peraturan pemerintah dan lingkungan negara bagian yang semakin ketat.

Batu bara telah menjadi bahan bakar utama untuk pembangkit listrik AS selama kurang lebih seabad terakhir. Namun penggunaannya telah menurun sejak mencapai puncaknya pada tahun 2007. Pada saat itu, para penge-bor menemukan cara yang ekonomis menarik gas keluar dari formasi batuan serpih.

Gas mulai menggantikan batu bara sebagai bahan bakar utama pembangkit listrik AS pada tahun 2016. Reuters melaporkan di-perlukan sekitar 175 juta kaki kubik gas per hari untuk menghasilkan sekitar 1.000 MW. TIM RISET CNBC INDONESIA (twg/twg)

Copper price to extend rally on “signs of Chinese panic buying” Frik Els

COPPER was once again approaching the psychologically important $3 a pound level on Wednesday on the back of falling inventories, booming Chinese demand and pandemic hit supply from South America, the US and Africa.

Copper for delivery in December trading in New York jumped 1.5% to $2.9965 a pound ($6,605 a tonne) in afternoon trade, bringing gains for 2020 to more than 7% and a whopping 50% since the covid-19 lows struck in March.

A new report from Roskill suggests the rally in copper – which has surprised many with its speed – has further to go.

IMA-Daily Update Page 20

Jonathan Barnes, associate consultant for copper at the London-based metal and minerals research firm, says while the effects of covid-19 could decrease world consumption of the metal by 3%–4% this year, the drop in mine output and scrap flows has been greater.

Signs of panic buying

The effect of this is most visible in the fall in stocks around the world.

Total visible stocks globally, which include those on exchanges and bonded warehouses in China fell by 40% from March to end-July to below 600,000 tonnes. Inventories in LME warehouses are at 13-year lows.

China is responsible for more than half the world’s copper consumption and the country is sucking up copper at record-setting rates.

“China is importing more refined metal from nearly every country suggesting a structural shift not a temporary change,” says Barnes.

“If you are looking for signs of panic buying, you can find evidence of that in China – total Chinese stocks represent less than two weeks’ consumption at current rates of use.”

In the rest of the world, where demand has dropped by much more relative to China, stocks represent only one week of consumption.

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Secondary shortfalls

The lack of available scrap – imports are down 50% in the first half – after Beijing delayed new importing rules, has forced the Chinese buyers to replace secondary sources with cathode, further driving down visible inventories.

Roskill estimates a roughly 300,000 tonne shortfall in imports of secondary materials – scrap, ingots and granules – into China in January to July.

Barnes believes global scrap flows may not normalize until the first quarter of next year, but would depend on new rules in China.

Barnes says Roskill’s sources have not been able to confirm that China’s State Reserve Bureau has been buying up strategic stocks of copper, “but if they were, they probably would have done so earlier, when prices were much lower.”

Two-year restocking cycle

Disruptions to mine supply could be between 750,000 to 1 million tonnes in 2020, with eight out of the 10 largest miners recording lower output during the first half of the year.

China’s concentrate imports are down year on year while sourcing anodes and blister from the central Africa copper belt is also hitting roadblocks.

Barnes says China’s two-year restocking cycle is rising in amplitude as the country’s dominance in the copper market increases and he expects an 11.5% rise for the full year in copper imports.

The country has a structural copper market deficit and it restocks whenever LME prices appear attractive. Moreover, says Barnes, China can take a long term view and use tomorrow what it does not need today.

Roskill expects trade data to show another bumper August for imports, despite being a seasonally muted month for shipments.

Parallels to post-GFC

Barnes says the copper price will likely rise further towards the end of 2020, and that the current environment has strong parallels to the rebound in the copper price after the global financial crisis.

Copper hit a low of $1.32 a pound in January 2009, then surged to $3.55 by April the next year on its way to an all-time peak of $4.58 (more than $10,000 per tonne) in February 2011.

IMA-Daily Update Page 22

SXiQ delivers Orica’s transformation out of the datacentre into the

Cloud Posted by Paul Moore

AUSTRALIAN based cloud integrator SXiQ has delivered a multi-million-dollar project to

migrate Orica, an Australian-based multinational corporation that is one of the world’s largest providers of commercial explosives and blasting systems to the mining industry, from multiple datacentres around the world into the Cloud.

Orica’s impetus for change arose from several key business challenges, including:

Ageing infrastructure requiring a large capital investment to keep current

Technology landscape was increasingly fragmented with multiple disparate products adding unnecessary complexity with legacy support challenges

Traditional delivery model was inflexible and unable to support global application teams’ requirement for speed and agility

Strategic requirement to lower overall ICT costs while improving responsiveness and consistency of service

To address these business challenges, Orica made the transformational decision to pursue a cloud-first strategy and exit its existing legacy datacentres, selecting Amazon Web Services (AWS) as its preferred cloud platform for all non-SAP applications whilst, in parallel, uplifting its traditional operating model to introduce a more modern Cloud-centric practice.

SXiQ led the solution development and delivery of both the platform and people transformation, which consisted of five key activities:

1. Rehost, Re-platform and Refactoring of over 50 key business applications and 26 infrastructure services, across hundreds of virtual machines, that support business functions including Manufacturing, Supply Chain, Commercial/Marketing, Finance and Digital into a new multi-region AWS tenancy

2. Establish Orica’s “Cloud Centre of Excellence” (CCoE) to provide the cross functional governance framework and innovation hub to enable continuous service improvement and adoption of new technologies

3. Design and Implement an Infrastructure-as-Code (IaC) methodology and toolset using Terraform and Ansible to change how Orica’s Engineering and Operational teams manage the lifecycle of cloud resources

4. Perform physical decommission of each datacentre co-lo tenancy including asset inventory, environmental disposal, and removal of physical racking

Orica selected SXiQ for this project based on its experience across large-scale, complex, mission critical systems, combined with its strength in cloud and datacentre technologies, to deliver an end-to-end solution.

IMA-Daily Update Page 23

“We believe it’s our combination of discipline built over years of implementing large-scale, mission critical systems plus our practical innovation and agility which set us apart”, says SXiQ Managing Director John Hanna. “Orica is innovating on every front and this project will enable the team to drive their transformation at an even greater pace. SXiQ is proud to be one of Orica’s innovation enablers,” he added.

SXiQ says it delivered this complex, global scale program, in under 15 months with the following results:

1. Cost transparency – Greater visibility of hosting costs, through the decommission of datacentre facilities and transforming 3rd party legacy services to cloud native services.

2. Simplification – Reduction in the number of disparate technology silos to simplify operational support and provide a more consistent service to the business across each global region.

3. Improved Agility – Enable new workloads to be deployed rapidly based on defined architecture patterns, using automation tools to manage the deployment lifecycle.

4. Enhanced Security and Recoverability – Improved availability and recoverability of applications through adoption of secure builds, a multi-Availability Zone designs and cloud native recovery capabilities.

5. Cloud-First– Orica is now positioned to enable new workloads to be deployed to cloud infrastructure, inheriting the benefits of Infrastructure-as-Code, built-in HA/DR, security and operational automation associated with the new platform. Orica now enjoys a truly modern cloud infrastructure hosting environment.

SXiQ has successfully delivered a significant key pillar in Orica’s IT Digital Strategy, enabling Orica to deliver on its purpose to make their customers successful, every day, all around the world.

Orica’s Vice President – Information Technology & Cyber Security Jamie Rossato stated “This is a crucial, foundational step in Orica’s digital transformation journey. It has unlocked cost savings, business agility & unlimited potential for innovation, delivered with confidence by our partner SXiQ who have played a significant role in helping us achieve this critical milestone on our journey.”

Orica’s cloud journey does not end at a technology uplift. “SXiQ is continuing to support Orica in the uplift of skills and processes, building a new Cloud Centre of Excellence which will deliver a true Cloud DevOps capability in order to ensure the benefits of cloud hosting are realised, and protected as Orica begins to innovate on this platform. The future is looking bright as Orica moves to take full advantage of the public cloud technologies and the innovation flexibility it brings.”

SXiQ Client Principal Paul Campisi said “The SXiQ team have done an amazing job to lead Orica’s move globally, out of the datacentre and into the Cloud.”

IMA-Daily Update Page 24

Newcrest contracts DXN for Cadia data centre Vanessa Zhou

NEWCREST Mining has awarded DXN a contract worth approximately $1.5 million for the

supply of a data centre at the Cadia gold mine in New South Wales.

The contract involves the design, build, shipment and installation of the complete data centre to incorporate critical infrastructure for mining requirements.

The modular data centre will be factory built, fully engineered and prefabricated by DXN.

DXN chief executive Matthew Madden said the team was thrilled to have secured the contract, showcasing all the value-adds that DXN brought to the forefront.

“With travel restrictions a reality we will live with for some time yet, this is the way of the future with data centre builds, engineered to be modular, prefabricated and shipped all around the world,” Madden said.

“During the course of the formal evaluation … we also proved that with our entire supply chain within our control and within Australia, we were able to deliver to match the customer’s expectations in terms of timeframes.”

Newcrest produced 843,000 ounces of gold and 96,000 tonnes of copper during the 2020 financial year at Cadia.

The company aims to increase the nameplate capacity of Cadia process plant to 33 million tonnes a year through the first stage of the Cadia expansion project.

The second stage will be focussed on further increasing the capacity to 35 million tonnes a year.

China’s Shanxi Coal plans big investment in solar cell manufacturing sector

Bloomberg:

MID-tier Chinese coal miner Shanxi Coal International Energy Group is planning a significant

investment in the competing business of making high-tech solar power cells.

The state-owned firm will lead a joint venture to build a 3-gigawatt solar manufacturing plant for 3.19 billion yuan ($461 million), according to a statement on Friday. It’s the first phase of a project that will grow to 10 gigawatts — the equivalent of the generating power of 10 nuclear power plants — producing high-efficiency cells through so-called heterojunction technology.

IMA-Daily Update Page 25

While unusual, Shanxi Coal’s foray into rival territory isn’t a first. Jinneng Group, a provincial coal peer, also has a solar cell and panel manufacturing business. Shaanxi Coal Industry Co., meanwhile, holds a 3.88% stake in the world’s biggest solar wafer-maker LONGi Green Energy Technology Co.

China is both the world’s biggest coal and solar producer. Despite its dirty credentials and role in global warming, such is coal’s importance to cheap power and employment in the nation it won’t be fading away anytime soon, even as renewable energy takes bites out of its dominant share of the power generation pie.

According to Shanxi Coal, the rationale for its investment is to help with the province’s energy transition and meet the need for state firms to get behind strategic emerging industries.

The company will own an 88.5% stake in the venture, Shanxi Coal International Photovoltaic Power Technology Co. The rest will be held by Huzhou Junhua Siyue Equity Investment Partnership and Ningbo Qixian Enterprise Management Consulting Co.

Trump’s Coal Resurgence Promise Has Gone Underground Chuck Jones, Senior Contributor

CANDIDATE Trump campaigned on reducing regulations, which would bring back the coal

industry and jobs. While he has been able to reduce regulations, with one major component being to repeal President Obama’s Clean Power Plan and replace it with the Affordable Clean Energy Rule, market forces continue to outweigh Trump’s initiatives.

Coal miners may be among the hardest working Americans, performing a dangerous job amid unhealthy conditions. Unfortunately for them, even with an ex-coal industry lobbyist running the EPA, coal production and consumption continue to decline and renewable energy sources have now bypassed coal for electricity generation in the United States.

Coal production and consumption are down 16% and 40% from 2016

While coal production has seen some small rebounds over the past 12 years, production peaked in 2008 when 1.17 million short tons were mined. When President Trump was inaugurated in January 2017 the previous years production was 728 thousand short tons. Over the next three years production was:

2017: 775 million short tons, up 6.3% year over year

2018: 756 million short tons, down 2.4%

2019: 705 million short tons, down 6.7% and 3.2% lower than 2016

Using February 2020 with a 12 month rolling total, therefore pre-coronavirus impacts, coal production was down 6.1% from 2016.

However, through June this year coal production is down over 16% since 2016.

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Coal consumption has seen a much larger drop-off than production. This is due to coal exports not falling as much as consumption. Consumption also peaked in 2018 (July) with 1.14 million short tons used. When President Trump was inaugurated in January 2017 the previous years consumption was 731 thousand short tons. Over the next three years consumption was:

2017: 717 million short tons, down 1.9% year over year

2018: 688 million short tons, down 4.0%

2019: 587 million short tons, down 14.6% and 19.7% lower than 2016

Using February 2020 with a 12 month rolling total, therefore pre-coronavirus impacts, consumption was down 24.2% from 2016.

However, through June this year coal consumption is down over 40% since 2016.

IMA-Daily Update Page 27

Renewable energy bypassed coal in 2019

While the decline in coal production and consumption has mainly been driven by increased usage of natural gas, in 2019 U.S. annual energy consumption from renewable sources exceeded coal consumption for the first time since 1885, according to the U.S. Energy Information Administration’s or EIA.

Since the beginning of this century renewable sources have started to gain traction with biofuels, wind and solar driving the growth.

Coal plants continue to be closed or changed to natural gas

Earlier this month the EIA reported that 121 U.S. coal-fired power plants were repurposed to burn other types of fuels between 2011 and 2019, 103 of which were converted to or replaced by natural gas-fired plants. Additionally it said, “As the U.S. coal-fired electric generation fleet continues to manage challenges from emission standards and low prices for natural gas, EIA expects more of these conversions to take place in the future, particularly in the Midwest and Southeast.”

IMA-Daily Update Page 28

As the chart below shows, 2018 and 2019 had the second and third largest number of coal-fired plants measured in gigawatts either retired or repurposed in the past nine years. 2019 also saw the largest number retired in that timeframe.

Coal jobs continue to decline

When Trump was inaugurated there were 50,900 coal mining jobs, which was actually up from 48,900 in July to September of 2016, just before he was even elected.

While the number of jobs fell to 45,400 in July this year (and keep in mind that there were almost 140 million non-farm jobs in July, meaning coal jobs were 0.03% of total jobs), the number of coal jobs has fallen under Trump. In February this year, pre-coronavirus impacts, there were 50,400, a decrease of 500 from when he took office and far from what he said would happen if elected President.