table of contents€¦ · srivastava mengatakan, rencana produksi batubara bumi untuk tahun ini...

IMA-Daily Update Page 1

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Coal prices are still depressed, here's the coal issuer's strategy for the rest of the year Harga batubara masih tertekan, begini strategi emiten batubara di sisa tahun ini PT Freeport Indonesia Confident to Reach Production Target PT Freeport Indonesia Yakin Capai Target Produksi Adaro Energy's Coal Production Decreases 4% Produksi Batu Bara Adaro Energy Turun 4% When the gold price hits a record, why does MDKA's profit drop 9.43%? Saat Harga Emas Rekor, Laba MDKA Kok Drop 9,43%? Strengthening commodity prices sustained the mining sector index Penguatan harga komoditas menopang indeks sektor pertambangan South Sumatra Coal Exports Soared 74.35 percent thanks to buyers from South Korea Ekspor Batu Bara Sumsel Melejit 74,35 persen berkat Buyer dari Korea Selatan Pressured Coal Market, Adaro Slashes Capex to Rp 3.7 T Pasar Batu Bara Tertekan, Adaro Pangkas Capex Jadi Rp 3,7 T Indonesia logs biggest trade surplus in nine years, higher exports for three consecutive months Perhapi: Reducing production is an option to balance the domestic coal market Perhapi: Pengurangan produksi jadi opsi seimbangkan pasar batubara dalam negeri Utilization of Red Mud, Aluminum Mining Waste Pemanfaatan Red Mud, Limbah Hasil Tambang Aluminium Bad News from India, Coal Prices Will Drop Again? Kabar Buruk dari India, Harga Batu Bara Mau Nyungsep Lagi?

Kontan Media Indonesia Neraca CNBC Indonesia Kontan Bisnis CNBC Indonesia The Jakarta Post Kontan Dunia Tambang CNBC Indonesia

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Copper price jumps to 2-year high Miner BHP confirms plans to exit thermal coal sector Covid-19 to reduce global lead production by 5.2% in 2020 EIA: US coal stockpiles steadily increase Coal and Coke Export in H1 2020

Mining.com IEEFA Metal Mining News World Coal Sea|News

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https://ieefa.org/miner-bhp-confirms-plans-to-exit-thermal-coal-sector/


Coal prices are still depressed, here's the coal issuer's strategy

for the rest of the year Reporter: Ridwan Nanda Mulyana | Editor:

Tendi Mahadi

THE MARKET and coal prices are still under pressure in line with the global oversupply. A number of coal issuers have also installed strategies to mitigate this condition. Some of them chose to brake the production rate.

However, PT Indika Energy Tbk (INDY) and PT Bumi Resources Tbk (BUMI) have no plans to take this step. INDY's Head of Corporate Communication Ricky Fernando said that his party was still pursuing the target that was approved by the govern-ment in the 2020 Work Plan and Budget (RKAB), which amounted to 30.95 million tons.

INDY's production plan for this year is divided between its two subsidiaries, namely Kideco Jaya Agung with 29.65 million tons and Multi Tambangjaya Utama (MUTU) with 1.3 million tons. "Until now, we have maintained the production target that has been agreed by the government at 30.95 million tons," Ricky told Kontan.co.id, Tuesday (18/8).

During Semester I -2020, INDY has produced 17.6 million tons of coal. "From Kedico as much as 16.9 million tons. MUTU as much as 746,000 tons," he continued.

Not only INDY, BUMI is sti ll pursuing production targets. Bumi Resources Director and Corporate Secretary Dileep Srivastava said BUMI's coal production plan for this year is still around 85 million to 90 million tons.

Harga batubara masih tertekan, begini strategi emiten batubara

di sisa tahun ini Reporter: Ridwan Nanda Mulyana | Editor:

Tendi Mahadi

PASAR dan harga batubara masih dalam tekanan seiring dengan kondisi oversupply yang terjadi secara global. Sejumlah emiten batubara pun pasang strategi untuk me-mitigasi kondisi ini. Beberapa diantaranya memilih mengerem laju produksi.

Namun, PT Indika Energy Tbk (INDY) dan PT Bumi Resources Tbk (BUMI) belum berencana menempuh langkah tersebut. Head of Corporate Communication INDY Ricky Fernando mengatakan, pihaknya masih mengejar target yang telah disetujui pemerintah dalam Rencana Kerja dan Anggaran Biaya (RKAB) 2020 yang sebesar 30,95 juta ton.

Rencana produksi INDY tahun ini dibagi pada kedua anak usahanya, yakni Kideco Jaya Agung sebesar 29,65 juta ton dan Multi Tambangjaya Utama (MUTU) sebanyak 1,3 juta ton. "Hingga saat ini kami mempertahankan target produksi yang telah disepakati pemerintah sebanyak 30,95 juta ton," ujar Ricky kepada Kontan.co.id, Selasa (18/8).

Sepanjang Semester I-2020, INDY telah memproduksi 17,6 juta ton batubara. "Dari Kedico sebanyak 16,9 juta ton. MUTU sebanyak 746.000 ton," sambungnya.

Tak hanya INDY, BUMI pun masih menge-jar target produksi. Direktur dan Sekretaris Perusahaan Bumi Resources Dileep Srivastava mengatakan, rencana produksi batubara BUMI untuk tahun ini masih berkisar di angka 85 juta ton-90 juta ton.

https://pusatdata.kontan.co.id/quote/INDYhttps://pusatdata.kontan.co.id/quote/BUMI


The largest coal producer in Indonesia is extracting black gold from its two subsidiaries, namely PT Kaltim Prima Coal and PT Arutmin Indonesia. "Unchanged in the 2020 guidance from 85 MT - 90 MT," said Dileep.

According to Kontan.co.id, BUMI's coal production target is supported by KPC of 60 million - 65 million tonnes, and production from Arutmin of around 28 million tonnes - 30 million tonnes.

According to Dileep, the target already calculates the increase in KPC's production plan in the RKAB. However, the increase in production has not been applied to Arutmin because it is still waiting for the PKP2B extension and its status transition to IUPK. "Only KPC (increased production), Arutmin awaits confirmation of IUPK status," he said.

At least in the last two years, BUMI's coal production has continued to grow. In 2019, BUMI's production reached 87 million tons, an increase of 8.34% compared to the achievement in the previous year which was 80.3 million tons.

KPC supports BUMI's coal production with a portion of around 70%. While the rest is filled by Arutmin. Until the first semester of 2020, BUMI's production realization was in the range of 41 million tons-42 million tons.

Until mid-August, BUMI is pursuing production at 50 million tons. "The portion is similar as previously published, about 70% KPC, the rest is Arutmin," explained Dileep.

Different from INDY and BUMI, PT Bukit Asam Tbk (PTBA) plans to change its production target this year. The state-owned coal issuer will make target adjustments taking into account market conditions.

Produsen batubara terbesar di Indonesia ini mengeduk emas hitam dari kedua anak usahanya, yakni PT Kaltim Prima Coal dan PT Arutmin Indonesia. "Tidak berubah pada panduan tahun 2020 dari 85 MT - 90 MT," kata Dileep.

Dalam catatan Kontan.co.id, target pro-duksi batubara BUMI tersebut ditopang oleh KPC sebanyak 60 juta ton - 65 juta ton, serta produksi dari Arutmin sekitar 28 juta ton - 30 juta ton.

Menurut Dileep, target tersebut sudah menghitung peningkatan rencana produksi KPC dalam RKAB. Namun, peningkatan produksi belum diterapkan pada Arutmin lantaran masih menunggu perpanjangan PKP2B dan peralihan statusnya menjadi IUPK. "Hanya KPC (peningkatan produksi), Arutmin menanti konfirmasi status IUPK," sebutnya.

Setidaknya dalam dua tahun terakhir, produksi batubara BUMI memang terus bertumbuh. Pada tahun 2019 lalu, produksi BUMI mencapai 87 juta ton atau meningkat 8,34% dibandingkan capaian pada tahun sebelumnya yang sebesar 80,3 juta ton.

KPC menopang produksi batubara BUMI dengan porsi sekitar 70%. Sementara sisanya diisi oleh Arutmin. Hingga Semester pertama 2020, realiasi produksi BUMI berada di kisaran 41 juta ton-42 juta ton.

Hingga pertengahan Agustus ini, BUMI mengejar produksi di angka 50 juta ton. "Porsi serupa seperti yang dipublikasikan sebelumnya, kira-kira 70% KPC, sisanya Arutmin," jelas Dileep.

Berbeda dari INDY dan BUMI, PT Bukit Asam Tbk (PTBA) berencana untuk mengubah target produksinya di tahun ini. Emiten batubara plat merah itu akan melakukan penyesuaian target dengan mempertimbangkan kondisi pasar.

https://pusatdata.kontan.co.id/quote/PTBA


Unfortunately, PTBA's Corporate Secretary Apollonius Andwie has not disclosed the change in the intended production target. What is clear, he said, is that these adjust-ments were made as a strategy to maintain market balance.

"For this year's production target, we will make adjustments by considering market conditions. This is a strategic step to

maintain a balance between supply and demand," Andwie said when contacted by Kontan.co.id, Tuesday (18/8).

Previously, coal issuers that had stated that they were cutting their production were PT Adaro Energy Tbk (ADRO) and PT ABM Investama Tbk. (ABMM).

Corporate Secretary & Investor Realtions Division Head Mahardika Putranto said, considering the difficult market conditions,

ADRO made revisions to several guidance components in 2020. Among others, by reducing coal production to 52 million tons-54 million tons. At the beginning of the year, ADRO targeted production at 54 million tons-58 million tons.

When compared with last year's realization, there was a decrease of around 10%. "The new target for coal production is down about 10% compared to 2019 on a YoY basis, which is mainly driven by a

decrease in thermal coal production," Mahardika explained.

ABMM also cut its coal production target. The decline in production is planned to reach 2.8 million tons or 19% of the target in the 2020 RKAB of 15 million tons.

ABM Investama Director Adrian Erlangga revealed that the market conditions and the price of coal which are still depressed are the main considerations for ABMM to

reduce its production level this year.

Sayangnya, Sekretaris Perusahaan PTBA Apollonius Andwie belum membeberkan perubahan target produksi yang dimaksud. Yang jelas, katanya, penyesuaian tersebut dilakukan sebagai strategi menjaga ke-seimbangan pasar.

"Untuk target produksi di tahun ini akan kami lakukan penyesuaian dengan mem-pertimbangkan kondisi market. Ini merupakan salah satu langkah strategis untuk menjaga keseimbangan antara pasokan dan permintaan," kata Andwie saat dihubungi Kontan.co.id, Selasa (18/8).

Sebelumnya, emiten batubara yang sudah menyatakan memangkas produksinya adalah PT Adaro Energy Tbk (ADRO) dan PT ABM Investama Tbk. (ABMM).

Corporate Secretary & Investor Realtions Division Head Mahardika Putranto menga-takan, dengan mempertimbangkan kondisi pasar yang sulit, ADRO melakukan revisi terhadap beberapa komponen panduan di 2020. Antara lain dengan menurunkan produksi batubara menjadi 52 juta ton-54 juta ton. Di awal tahun, ADRO menargetkan produksi di angka 54 juta ton-58 juta ton.

Jika dibandingkan dengan realisasi tahun lalu, maka ada penurunan sekitar 10%. "Target baru untuk produksi batubara turun sekitar 10% dibandingkan tahun 2019 secara YoY, yang terutama didorong oleh penurunan produksi batubara termal," jelas Mahardika.

ABMM juga memangkas target produksi batubara. Penurunan produksi direncana-kan mencapai 2,8 juta ton atau 19% dari target dalam RKAB tahun 2020 yang sebesar 15 juta ton.

Direktur ABM Investama Adrian Erlangga mengungkapkan, kondisi pasar dan harga batubara yang masih tertekan menjadi pertimbangan utama ABMM menurunkan tingkat produksinya di tahun ini.

https://pusatdata.kontan.co.id/quote/ADROhttps://pusatdata.kontan.co.id/quote/ABMM


"In general, it will drop 19% or 2.8 million below the 2020 RKAB. This is because the price is too low," he told Kontan.co.id, Tuesday (4/8).

"Secara umum akan turun 19% atau 2,8 juta di bawah RKAB 2020. Ini karena harga terlalu rendah," ungkapnya kep ada Kontan.co.id, Selasa (4/8).

PT Freeport Indonesia Confident to Reach Production Target

PT FREEPORT Indonesia (PTFI) 's copper and gold production is claimed to be able to reach the target amid the conditions of the Covid-19 pandemic even though it only reached 60% of the production target.

PTFI President Director Tony Wenas said that currently PTFI's production condition is only 60% of its production capacity. This happens because the reserves in the open pit have run out and only get out of the reserve. Currently, sales of concentrate ore are 800 million pounds of copper and 800 thousand ounces of gold.

"The Covid-19 pandemic has an impact on companies. However, the activities to increase underground mining production at Grasberg Block Cave and Deep Level Level Zone (DMLZ) must continue, ”he said, in his official statement yesterday. To realize this step, this year PTFI has prepared funds amounting to US$ 1.3 billion or Rp19.1 trillion (assuming an exchange rate of Rp14,700 per US$) for the development of underground mines.

Tony said that in 2021 the copper production target would even increase to 1.4 billion pounds and gold production to 1.4 million ounces of gold. He believes that this target can be achieved. He also ensured that sales this year will remain good because gold and copper prices are moving up.

PT Freeport Indonesia Yakin Capai Target Produksi

PRODUKSI tembaga dan emas PT Freeport Indonesia (PTFI) diklaim mampu mencapai target di tengah kondisi pandemi covid-19 meski sempat hanya mencapai 60% dari target produksi.

Presiden Direktur PTFI Tony Wenas mengatakan saat ini kondisi produksi PTFI hanya 60% dari kapasitas produksi. Ini terjadi karena cadangan di open pit sudah habis dan hanya mengeluarkan dari simpanan cadangan. Saat ini tercatat penjualan bijih konsentrat sebesar 800 juta pounds tembaga dan 800 ribu ounce emas.

“Pandemi covid-19 memang berdampak kepada perusahaan. Namun, kegiatan pe-ningkatan produksi penambangan bawah tanah Grasberg Block Cave dan Deep Level Level Zone (DMLZ) harus tetap berjalan,” kata dia, dalam keterangan resminya, kemarin. Untuk merealisasikan langkah tersebut, tahun ini PTFI menyiapkan dana sebesar US$1,3 miliar atau Rp19,1 triliun (asumsi kurs Rp14.700 per US$) untuk pengembangan underground mine.

Tony menyampaikan pada 2021 target produksi tembaga bahkan meningkat mencapai 1,4 miliar pound dan produksi emas 1,4 juta ounce emas. Pihaknya yakin target tersebut bisa dicapai. Ia juga memastikan penjualan tahun ini tetap baik karena harga emas dan tembaga yang bergerak naik.


"This price rises because China in the second quarter grew 3.2 percent and copper imports quite a lot. The world supply decreases, China's demand rises, so prices rise. This makes our income increase," said Tony. From the non-operating side, the level of employee productivity has also increased. This figure shows that the PTFI extended family is ready to welcome the process of adapting to a new habit (new normal).

According to Tony, in line with the theme of Indonesia's 75th Anniversary, "Indonesia Maju", the company continues to contribute to Indonesia again, including in the midst of a pandemic. This contribution is given in various aspects such as economy, health, human resource development, and infrastructure develop-ment. "It becomes more apparent after 51% of PTFI shares are officially owned by the Government of Indonesia under the auspices of PT Inalum (Indonesia Asahan Alumunium/MIND ID)," he said.

According to Tony, a pandemic requires elements of society to adapt to new habits in order to help reduce the spread of the virus and support Indonesia's progress in various aspects. This situation has prompted PTFI to transform in terms of operations and contribution.

A number of transformations include making work rotation procedures and systems more flexible (working from home for Jakarta employees) and minimal personnel (reducing the number of people in the operating area at the same time). That way, it can strengthen the protection of employee health and safety.

Throughout the pandemic, PTFI has continued to maintain 29,201 jobs for its employees and contractors, 97% of whom are from Indonesia. PTFI also provided...

“Ini harga naik karena China di kuartal II tumbuh 3,2% dan impor tembaga cukup banyak. Suplai dunia berkurang, per-mintaan China naik, maka harga naik. Ini membuat penghasilan kita bertambah,” kata Tony. Dari sisi non-operasi, tingkat produktivitas karyawan pun meningkat. Angka ini menunjukkan keluarga besar PTFI siap menyambut proses adaptasi kebiasaan baru (new normal).

Menurut Tony, selaras dengan tema Hut ke-75 RI yakni ‘Indonesia Maju’, per-usahaan kembali terus berkontribusi bagi Indonesia, termasuk di tengah pandemi. Kontribusi ini diberikan di berbagai aspek seperti ekonomi, kesehatan, pengem-bangan sumber daya manusia, dan pembangunan infrastruktur. “Semakin nyata terlihat setelah 51% saham PTFI resmi dimiliki Pemerintah RI di bawah naungan PT Inalum (Indonesia Asahan Alumunium/MIND ID),” kata dia.

Menurut Tony, pandemic mengharuskan elemen masyarakat untuk beradaptasi dengan kebiasaan baru agar bisa mem-bantu menekan tingkat penyebaran virus dan mendukung kemajuan Indonesia di berbagai aspek. Situasi ini mendorong PTFI bertransformasi dari sisi operasional dan kontribusi.

Sejumlah transformasi di antaranya dengan membuat prosedur dan sistem rotasi kerja yang lebih fleksibel (kerja dari rumah bagi karyawan Jakarta) serta minim personel (mengurangi jumlah orang di area operasi dalam satu waktu kerja yang sama). Dengan begitu, mampu mem-perkuat perlindungan kesehatan dan keselamatan karyawan.

Sepanjang pandemi, PTFI terus menjaga 29.201 lapangan kerja bagi karyawan dan kontraktor perusahaan yang 97% di antaranya dari Indonesia. PTFI juga memberi...


PTFI also provided social assistance to communities affected by the Covid-19 pandemic around the work area which reached a value of more than Rp 21 billion.

Medical facility

Health facilit ies are also provided for employees and communities around the company's operating area, such as providing rapid test and PCR test kits, adding treatment and isolation rooms at Tembagapura Hospital and Kuala Kencana Clinic. PTFI is also building a RT-PCR testing laboratory facility to confirm the diagnosis of Covid-19.

Another assistance is facilitating the delivery of medical needs, foodstuffs and medical equipment for handling covid-19. PTFI even facilitated the delivery of 70 ventilators from the University of Rhode Island (URI), USA, to the Papua Provincial Government. All these initiatives strengthened PTFI's contribution, which from 1992-2019 reached US$ 45.8 billion (around Rp.664.1 trillion) to the Indonesian economy.

In addition, US$ 1.73 billion (around Rp.25.1 billion) is for community development and empowerment programs, as well as building infrastructure such as more than 3,000 houses and providing electricity to communities around the company's work areas. Starting from 2019 to 2041, PTFI has budgeted an investment fund of US$ 15.1 billion (around Rp.218.9 trillion) for the development of operational activities and strengthening contributions for Indonesia to achieve PTFI's new target in the midst of a pandemic, namely safe and sustainable production.

Founder of Rumah Change, Rhenald Kasali, said, “All over the world, gold and copper mining companies operating in hard-to-reach areas, must build their own complex infrastructure that is fraught with risks, both safety and political. PTFI's journey through...

PTFI juga memberi bantuan sosial kepada masyarakat yang terkena dampak pandemi Covid-19 di sekitar area kerja yang mencapai nilai lebih dari Rp21 miliar.

Fasilitas kesehatan

Fasilitas kesehatan juga disediakan bagi karyawan dan masyarakat di sekitar area operasi perusahaan, seperti menyediakan alat rapid test dan PCR test, menambah kamar perawatan dan isolasi di RS Tembaga-pura dan Klinik Kuala Kencana. PTFI juga membangun fasilitas laboratorium pengujian RT-PCR untuk konfirmasi diagnosis covid-19.

Bantuan lain ialah memfasilitasi pengiriman bantuan kebutuhan medis, bahan makanan, dan peralatan kesehatan untuk penanganan covid-19. PTFI bahkan memfasilitasi pengi-riman 70 ventilator dari University of Rhode Island (URI), AS, untuk Pemprov Papua. Seluruh inisiatif itu memperkuat kontribusi PTFI yang sejak 1992-2019 mencapai US$ 45,8 miliar (sekitar Rp664,1 triliun) ter-hadap perekonomian Indonesia.

Selain itu, sebesar US$1,73 miliar (sekitar Rp25,1 miliar) untuk program-program pengembangan dan pemberdayaan masya-rakat, serta membangun infrastruktur seperti lebih dari 3.000 rumah dan penye-diaan aliran listrik bagi masyarakat di sekitar area kerja perusahaan. Terhitung sejak 2019 sampai 2041, PTFI menganggar-kan dana investasi US$15,1 miliar (sekitar Rp218,9 triliun) untuk pengembangan kegiatan operasi dan penguatan kontribusi bagi Indonesia agar mencapai target baru PTFI di tengah pandemic yaitu produksi aman dan berkelanjutan.

Founder Rumah Perubahan Rhenald Kasali mengatakan, “Di seluruh dunia, perusahaan tambang emas dan tembaga beroperasi di daerah yang sulit dijangkau, harus mem-bangun infrastruktur sendiri yang rumit dan penuh dengan risiko, baik safety maupun politis. Perjalanan PTFI melewati...


PTFI's journey through these challenges to return to our motherland as a controlling shareholder is something we are grateful for.

"Challenges are always present, streng-thening SINCERE's value in the midst of a pandemic is the right thing to build solidarity and togetherness in order to strengthen each other and be able to face every challenge," said Rhenald. (Gan/S3-25)

Perjalanan PTFI melewati tantangan-tantangan itu sampai kembali ke ibu pertiwi sebagai pemegang saham kendali patut kita syukuri.

”Tantangan selalu hadir, penguatan nilai SINCERE di tengah pandemi adalah hal tepat untuk membangun solidaritas dan kebersamaan agar saling menguatkan dan mampu menghadapi setiap tantangan,” tandas Rhenald. (Gan/S3-25)

Adaro Energy's Coal Production Decreases 4%

By: Ahmad Nabhani

HIT by the impact of the Covid-19 pandemic, mining production owned by PT Adaro Energy Tbk (ADRO) in the first half of this year reached 27.29 million tons, down 4% year-on-year (yoy). In addition, coal sales volume in this period also reached 27.13 million tons, or decreased by 6% on an annual basis. This information was conveyed by the company in a press release in Jakarta yesterday.

Management said that Adaro Energy's strip ratio was recorded at 3.77 times due to the long rainy season in the operating area which affected the company's activities. The unfavorable market conditions have prompted the company to revise its 2020 guidelines to produce 52 million tons to 54 million tons, operational EBITDA of US$ 600 million to US$ 800 million, capital expenditure of US$ 200 million to US$ 250 million.

Adaro Energy continues to strive to maintain operational excellence, improve efficiency, maintain healthy margins and provide customers with a reliable supply. Furthermore,...

Produksi Batu Bara Adaro Energy Turun 4% Oleh: Ahmad Nabhani

TERPUKUL dampak pandemi Covid-19, produksi tambang milik PT Adaro Energy Tbk (ADRO) pada paruh pertama tahun ini mencapai 27,29 juta ton atau turun 4% year-on-year (yoy). Selain itu, volume penjualan batu bara pada periode ini pun mencapai 27,13 juta ton, atau turun 6% secara tahunan. Informasi tersebut disampaikan perseroan dalam siaran persnya di Jakarta, kemarin.

Manajemen menyampaikan nisbah kupas Adaro Energy tercatat 3,77 kali karena musim hujan yang panjang di wilayah operasi berdampak terhadap aktivitas perusahaan. Kondisi pasar yang kurang kondusif telah mendorong perusahaan untuk merevisi panduan tahun 2020 menjadi produksi 52 juta ton sampai 54 juta ton, EBITDA operasional US$600 juta sampai US$800 juta, belanja modal US$200 juta sampai US$250 juta.

Adaro Energy terus berupaya memper-tahankan keunggulan operasional, mening-katkan efisiensi, menjaga marjin yang sehat dan memberikan pasokan yang andal bagi para pelanggan. Lebih lanjut,...


Furthermore, in the second quarter of 2020 the thermal coal market was affected more significantly by the Covid -19 pandemic as coal importing countries had to face major economic impacts.

As a result, demand for electricity, and thus for coal, has subsequently plummeted, with a small, sporadic increase in demand towards the end of the quarter as the

lockdown eases slowly and cautiously.

Lebih lanjut, pada kuartal kedua 2020 pasar batu bara termal terdampak oleh pandemi Covid-19 secara lebih signifikan karena negara-negara pengimpor batu bara harus menghadapi dampak ekonomi yang besar.

Akibatnya, permintaan terhadap listrik, dan dengan demikian terhadap batubara, kemudian anjlok, dengan peningkatan permintaan yang berskala kecil dan sporadis menuju akhir kuartal ini seiring pelonggaran lockdown yang

dilakukan secara perlahan dan waspada.

When the gold price hits a record, why does MDKA's profit

drop 9.43%? Monica Wareza, CNBC Indonesia

THE RALLY in world gold prices since the Covid-19 pandemic and reaching a record high in history does not appear to have a direct correlation with the financial performance of gold producer issuers. PT Merdeka Copper Gold Tbk (MDKA) actually recorded a decrease in net profit of 9.43% year on year (YoY) at the end of the first semester of 2020.

Based on its financial statements, the company's net profit was recorded at US$ 38.26 million (Rp.556.32 billion, assuming an exchange rate of Rp.14,800/US$). This amount is down from the net profit in the same period the previous year which was valued at US$ 45.25 million.

Earnings per share also fell slightly to US$ 0.0017 from US$ 0.0020 previously.

Until the end of June 2020, the company's revenue actually increased by 3.67% YoT to US$ 198.81 million (Rp 2.94 trillion). Up from the position at the end of June 2019 which amounted to US$ 191.77 million.

Saat Harga Emas Rekor, Laba MDKA Kok Drop 9,43%? Monica Wareza, CNBC Indonesia

RELI harga emas dunia sejak pandemi Covid-19 dan mencapai rekor tertinggi sepanjang sejarah, rupanya tidak ber-korelasi langsung dengan kinerja keuangan emiten produsen emas. PT Merdeka Copper Gold Tbk (MDKA) justru mencatat-kan penurunan laba bersih 9,43% year on year (YoY) di akhir semester I-2020.

Berdasarkan laporan keuangannya, ter-catat laba bersih perusahaan menjadi US$ 38,26 juta (Rp 566,32 miliar, asumsi kurs Rp 14.800/US$). Jumlah ini turun dari laba bersih di periode yang sama tahun sebelumnya yang senilai US$ 45,25 juta.

Nilai laba per saham juga ikut turun tipis menjadi US$ 0,0017 dari sebelumnya senilai US$ 0,0020.

Hingga akhir Juni 2020 lalu, pendapatan perusahaan sebenarnya mengalami kenaikan tipis 3,67% YoT menjadi US$ 198,81 juta (Rp 2,94 triliun). Naik dari posisi akhir Juni 2019 yang sebesar US$ 191,77 juta.


Meanwhile, what caused the decline in profit was an increase in the cost of revenue. During the first six months of this year, the cost of revenue increased to US$ 122.43 million from US$ 105.15 million previously.

General administrative expenses also increased to US$ 12.61 million from US$ 8.51 million previously.

Other expenses increased to US$ 3.10

million from US$ 2.86 million. However, the financial burden slightly decreased to US$ 8.41 from the position at the end of semester I-2019 which was valued at US$

8.85 million.

The company's assets during this period were recorded at US$ 841.74 million, down from the position at the end of December 2019 which was US$ 951.25 million.

Consisting of current assets of US$ 201.12 million and non-current assets of US$ 740.62 million.

However, total liabilities during this period decreased to US$ 387.93 million from the end of last year which was valued at US$

427,008 million. Short-term liabilities were recorded at US$ 240.18 million and long-term liabilities of US$ 147.75 million.

The total equity of the company at the end

of the first semester of 2020 was valued at US$ 553.80 million, up from the 2019 full year position of US$ 524.24 million.

The world gold price once reached the highest record in the world, above US$ 2,000/troy ounce, breaking the previous all-time high of US$ 1,920.3/troy ounce which was printed almost 9 years ago, to be precise on September 6, 2011. In year to date until early August the price of gold has appreciated by 35.42%. (hps/hps)

Sementara itu, yang mejadi penyebab penurunan laba adalah kenaikan di pos beban pokok pendapatan. Selama enam bulan pertama tahun ini, beban pokok pendapatan naik menjadi senilai US$ 122,43 juta dari sebelumnya senilai US$ 105,15 juta.

Beban umum administrasi juga ikut naik menjadi US$ 12,61 juta dari sebelumnya

hanya sebesar US$ 8,51 juta.

Beban lain-lain mengalami kenaikan menjadi US$ 3,10 juta dari US$ 2,86 juta. Namun beban keuangan turun tipis men-jadi US$ 8,41 dari posisi akhir semester I-2019 yang senilai US$ 8,85 juta.

Aset perusahaan pada periode ini tercatat senilai US$ 841,74 juta, turun dari posisi akhir Desember 2019 yang sebesar US$ 951,25 juta. Terdiri dari aset lancar US$

201,12 juta dan aset tak lancar US$ 740,62 juta.

Namun total liabilitas total pada periode ini susut menjadi US$ 387,93 juta dari akhir tahun lalu yang senilai US$ 427,008 juta. Liabilitas jangka pendek tercatat US$ 240,18 juta dan liabilitas jangka panjang sebesar US$ 147,75 juta.

Jumlah ekuitas perusahaan di akhir periode semester I-2020 senilai US$

553,80 juta, naik dari posisi full year 2019 yang sebesar US$ 524,24 juta.

Harga emas dunia sempat mencapai rekor tertinggi di dunia, di atas US$ 2.000/troy ons, mematahkan rekor tertinggi sepan-jang masa sebelumnya US$ 1.920,3/troy ons yang dicetak nyaris 9 tahun yang lalu, tepatnya pada 6 September 2011. Secara year to date hingga awal Agustus harga emas terapresiasi sebesar 35,42%. (hps/

hps)


Strengthening commodity prices sustained the mining sector

index Reporter: Akhmad Suryahadi | Editor:

Tendi Mahadi

SINCE the beginning of the year or on a year-to-date (YTD) basis, the Composite Stock Price Index (IHSG) is still correcting 17.14%. However, it is the mining sector index that performs better than the JCI.

Quoting data from the Indonesia Stock Exchange (IDX), year-to-date the mining index only corrected -8.01%, making it the second strongest performing sectoral index after the consumer goods sector index, which only corrected -4.88% since the beginning of the year.

MNC Sekuritas analyst Catherina Vincentia assessed that the strengthening of the gold commodity which rose 30.85% in YTD, the price of tin which rose 0.85% in YTD and nickel which rose 4.09% in YTD also contributed to the increase in the mining sector.

According to Catherina, this increase was supported by demand for nickel and lead for the development of electric vehicles. Besides that, there is also the effect of asset aversion from high risk to safe haven.

"This increase is also due to the return to business activities in the largest importing countries such as China," said Catherina to Kontan.co.id, Tuesday (18/8).

This increase was also reflected in the increase in the prices of a number of mining issuers' shares. PT Vale Indonesia Tbk (INCO) shares rose 24.67% in three months of trading, and rose 2.75% since the beginning of the year.

Penguatan harga komoditas menopang indeks sektor

pertambangan Reporter: Akhmad Suryahadi | Editor:

Tendi Mahadi

SEJAK awal tahun atau secara year-to-date (YTD), Indeks Harga Saham Gabungan (IHSG) masih terkoreksi 17,14%. Akan tetapi, adalah indeks sektor pertambangan masih ber-kinerja lebih baik dibandingkan dengan IHSG.

Mengutip data Bursa Efek Indonesia (BEI), secara year-to-date indeks pertambangan hanya terkoreksi -8,01%, menjadikannya indeks sektoral dengan performa terkuat kedua setelah indeks sektor barang konsumsi yang hanya terkoreksi -4,88% sejak awal tahun.

Analis MNC Sekuritas Catherina Vincentia menilai, penguatan dari komoditas emas yang naik 30,85% secara YTD, harga timah yang naik 0,85% secara YTD serta komoditas nikel yang menguat 4,09% secara YTD turut berkontribusi terhadap peningkatan pada sektor pertambangan.

Menurut Catherina, kenaikan ini didukung oleh permintaan nikel dan timah untuk perkembangan kendaraan listrik (electric vehicle). Selain itu, ada pula pengaruh asset aversion dari high risk menjadi safe haven.

“Kenaikan ini juga disebabkan oleh kembali-nya aktivitas bisnis pada negara importir terbesar seperti China,” ujar Catherina kepada Kontan.co.id, Selasa (18/8).

Kenaikan ini pun tercermin dari kenaikan harga sejumlah saham emiten pertambangan. Saham PT Vale Indonesia Tbk (INCO) menguat 24,67% dalam perdagangan tiga bulan, dan menguat 2,75% sejak awal tahun.

https://pusatdata.kontan.co.id/quote/INCO


Gold mining issuers, namely PT Merdeka Copper Gold Tbk (MDKA) rose 54.55% in three months and soared 74.77% since the beginning of the year. The shares of the state-owned tin producer PT Timah Tbk (TINS) also shot up 59.55% in three months.

However, coal commodity prices still declined 25.48% on a YTD basis to the

level of US$ 50.45 per metric ton (MT), one of which was caused by weakening demand in the first and second quarters of 2020.

Catherina said, in the second half of 2020, coal prices have the potential to improve with the return of increasing demand for coal from China as winter approaches.

Based on historical data, coal demand will start to increase in the third quarter which

will certainly have an impact on coal issuers, including PT Adaro Energy Tbk (ADRO) and PT Bukit Asam Tbk (PTBA) which in the last two years recorded an increase in the bottom line of 2.89 % (2-year average) in the third quarter.

However, it does not mean that the journey of the mining sector, especially coal, is free from negative sentiment. According to Catherina, a number of negative

sentiments from the global such as the closure of coal power plants in European countries along with the green campaign being carried out will have an impact on coal demand going forward.

In addition, the decrease in power generated by coal by up to 30% in the first semester of 2020 that occurred in the United States will be a contributing factor and a risk for this sector.

Saham emiten pertambangan emas, yakni PT Merdeka Copper Gold Tbk (MDKA) menguat 54,55% dalam tiga bulan dan melesat 74,77% sejak awal tahun. Saham emiten produsen timah milik Negara, yakni PT Timah Tbk (TINS) juga melesat 59,55% dalam tiga bulan.

Meski demikian, harga komoditas batubara masih menurun 25,48% secara YTD ke level US$ 50,45 per metric ton (MT), yang salah satunya disebabkan oleh pelemahan permintaan pada kuartal pertama dan kedua 2020.

Catherina mengatakan, pada semester kedua 2020, harga batubara berpotensi akan membaik dengan kembali meningkat-nya permintaan batubara dari China seiring dengan mendekatnya musim dingin.

Berdasarkan data historis, permintaan batu-bara akan mulai meningkat pada kuartal ketiga yang tentunya akan berdampak kep-ada emiten-emiten batubara, diantaranya adalah PT Adaro Energy Tbk (ADRO) dan PT Bukit Asam Tbk (PTBA) yang dalam dua tahun terakhir mencatatkan peningkatan bottom line sebesar 2.89% (2-year average) pada kuartal ketiga.

Namun, bukan berarti perjalanan sektor pertambangan khususnya batubara sudah bebas dari sentimen negatif. Menurut Catherina, sejumlah sentimen negatif dari global seperti penutupan pembangkit listrik batubara di negara-negara Eropa seiring dengan green campaign yang dijalankan akan berdampak pada permintaan batubara ke depan.

Selain itu, penurunan tenaga yang di-hasilkan oleh batubara hingga 30% pada semester I-2020 yang terjadi di Amerika Serikat akan menjadi faktor pemberat dan risiko bagi sektor ini.

https://pusatdata.kontan.co.id/quote/MDKAhttps://pusatdata.kontan.co.id/quote/TINShttps://pusatdata.kontan.co.id/quote/ADROhttps://pusatdata.kontan.co.id/quote/PTBA


South Sumatra Coal Exports Soared 74.35 percent thanks to

buyers from South Korea Dinda Wulandari

COAL exports from South Sumatra were recorded to have started to improve in July 2020 in line with the high demand from new markets, namely South Korea.

Based on data from the South Sumatra Central Statistics Agency (BPS), coal exports in July 2020 were valued at US$ 46.75 million. This value shot up 74.35 percent compared to June 2020 which amounted to US$ 25.75 million.

Head of South Sumatra BPS, Endang Tri Wahyuningsih, said that his party has monitored a large increase in coal exports in the last two months.

"It was only in June and July that the trend of South Sumatra's coal exports improved, this cannot be separated from the conditions of the countries which are the export market destinations," he said, Tuesday (18/8/2020).

The increase in coal exports was also recorded the highest in the group of 5 mainstay non-oil and gas export commodities in South Sumatra. Structurally, the coal mining sector contributes 18.73 percent to Bumi Sriwijaya's non-oil and gas exports.

Endang explained that in terms of price, the black gold commodity was not yet very exciting but the volume of coal exports slowly increased.

According to him, South Sumatra's coal exports are currently focused on new markets, especially South Korea. The export value to the State of Ginseng reached US$ 10.90 million last month.

Ekspor Batu Bara Sumsel Melejit 74,35 persen berkat

Buyer dari Korea Selatan Dinda Wulandari

EKSPOR batu bara asal Sumatra Selatan tercatat mulai membaik pada Juli 2020 seiring tingginya permintaan dari pasar baru, yakni Korea Selatan.

Berdasarkan data Badan Pusat Statistik (BPS) Sumsel, ekspor batu bara pada Juli 2020 senilai US$46,75 juta. Nilai tersebut melesat 74,35 persen dibandingkan bulan Juni 2020 yang sebesar US$25,75 juta.

Kepala BPS Sumsel Endang Tri Wahyuningsih mengatakan pihaknya memantau kenaikan ekspor batu bara yang cukup besar baru terjadi pada dua bulan terakhir.

“Baru bulan Juni dan Juli ekspor batu bara Sumsel trennya membaik, hal tersebut tidak lepas dari kondisi negara-negara yang menjadi tujuan pasar ekspor,” katanya, Selasa (18/8/2020).

Kenaikan ekspor batu bara juga tercatat paling tinggi dalam kelompok 5 komoditas ekspor nonmigas andalan Sumsel. Secara struktur, sektor pertambangan batu bara berkontribusi 18,73 persen terhadap ekspor nonmigas Bumi Sriwijaya.

Endang menjelaskan memang secara harga, komoditas emas hitam itu belum begitu menggairahkan namun volume ekspor batu bara perlahan menanjak.

Menurut dia, ekspor batu bara Sumsel saat ini memang banyak tertuju ke pasar baru, terutama Korea Selatan. Nilai ekspor ke Negeri Gingseng itu mencapai US$10,90 juta pada bulan lalu.

https://www.bisnis.com/user/220/dinda.wulandari


"Exporters seem to see opportunities for countries that can become new markets for coal," he said.

Apart from South Korea, said Endang, these commodities have also been sent to Bangladesh, Brunei Darussalam and Pakistan. For conventional markets, such as China and India are now starting to run again.

Meanwhile, the export value of South Sumatra in July 2020 reached US$ 294.75 million, or an increase of 19.95 percent compared to exports in June 2020.

However, when compared to the same period in 2019 (January - July 2019), South Sumatra's exports fell by 18.78 percent.

Last month, South Sumatra's exports consisted of oil and gas exports of US$ 22.07 million and US$ 272.68 million which was the result of non-oil and gas commodity exports. Editor: Sutarno

“Para eksportir tampaknya melihat peluang negara-negara yang bisa jadi pasar baru untuk batu bara, “ katanya.

Selain Korsel, kata Endang, komoditas itu juga telah dikirim ke Bangladesh, Brunai Darussalam dan Pakistan. Untuk pasar konvensional, seperti Tiongkok dan India pun kini mulai berjalan kembali.

Sementara itu, nilai ekspor Sumsel pada Juli 2020 mencapai US$ 294,75 juta, atau naik 19,95 persen dibandingkan ekspor Juni 2020.

Akan tetapi, bila dibandingkan dengan periode yang sama tahun 2019 (Januari - Juli 2019) ekspor Sumsel turun sebesar 18,78 persen.

Ekspor Sumsel pada bulan lalu terdiri dari ekspor migas sebesar US$22,07 juta dan US$272,68 juta merupakan hasil ekspor komoditas nonmigas. Editor : Sutarno

Pressured Coal Market, Adaro Slashes Capex to Rp3.7 T

Tahir Saleh, CNBC Indonesia

PT ADARO Energy Tbk (ADRO) cut the total capital expenditure (capex) to US$ 200 million-US$ 250 million or the equivalent of Rp 2.96 trillion-Rp 3.70 trillion, from the capex set at the beginning of the year. reaching US$ 300 million-US$ 400 million or Rp 4.44 trillion-Rp 5.92 trillion.

Operational EBITDA or profit before interest, taxes, depreciation and amor-tization from operations this year was also revised to US$ 600 million-US$ 800 million, from the previous US$ 900 million-US$ 1.2 billion.

Pasar Batu Bara Tertekan, Adaro Pangkas Capex Jadi Rp3,7 T

Tahir Saleh, CNBC Indonesia

PT ADARO Energy Tbk (ADRO) memangkas jumlah belanja modal (capital expenditure/ capex) menjadi US$ 200 juta-US$ 250 juta atau setara Rp 2,96 triliun-Rp 3,70 triliun, dari jumlah capex yang ditetapkan di awal tahun yang mencapai US$ 300 juta-US$ 400 juta atau Rp 4,44 triliun-Rp 5,92 triliun.

Adapun EBITDA operasional atau laba sebelum bunga, pajak, depresiasi dan amortisasi dari operasional pada tahun ini juga direvisi menjadi US$ 600 juta-US$ 800 juta, dari sebelumnya yakni US$ 900 juta-US$ 1,2 miliar.

https://www.cnbcindonesia.com/market-data/quote/ADRO.JK/ADROhttps://www.cnbcindonesia.com/market-data/quote/ADRO.JK/ADRO


Mahardika Putranto, Corporate Secretary & Investor Relations Division Head of ADRO, said that the operational EBITDA guidelines were also adjusted to reflect the decrease in estimated average selling price caused by the decline in global coal prices.

"After evaluating the investment plan for this year, Adaro Energy can lower its capital expenditure guidelines [capex] by determining investment priorities and will continue to be careful and disciplined in managing its capital spending," he said in an official statement, Tuesday (18/8/2020).

"Even if our capex is reduced, we will continue to invest as needed to support long-term growth and maintain operational excellence," he stressed.

"Despite this industry volatility, we believe that the long-term fundamentals remain good and our business model has proven successful in navigating the ebb and flow of the coal market. In these difficult times, we are focused on maintaining operational excellence and healthy margins, as well as providing supply. reliable coal to customers," he explained.

Adaro Energy's coal production in the first half of 2020 reached 27.29 million tons, or decreased by 4% year-on-year (y-o-y). Coal sales volume in this period reached 27.13 million tons, or decreased by 6% y-o-y.

Adaro Energy's strip ratio in the first half of 2020 was recorded at 3.77x due to the long rainy season in the operating area which affected the company's activities.

Meanwhile, the unfavorable market conditions prompted the company to revise the 2020 guidance, especially production to 52 million tons - 54 million tons. This amount is lower than the target set at the beginning of the year for this year's production of 54 million-58 million tons.

Mahardika Putranto, Corporate Secretary & Investor Relations Divis ion Head ADRO, mengatakan panduan EBITDA operasional pun disesuaikan untuk mencerminkan penurunan estimasi harga jual rata-rata yang diakibatkan oleh penurunan harga batu bara global.

"Setelah mengevaluasi rencana investasi untuk tahun ini, Adaro Energy dapat me-nurunkan panduan belanja modal [capex] dengan menentukan prioritas investasi dan akan terus berhati-hati serta berdisiplin dalam mengelola belanja modalnya," katanya dalam keterangan resmi, Selasa (18/8/2020).

"Walaupun belanja modal dikurangi, kami akan melanjutkan investasi yang diperlukan untuk mendukung pertumbuhan jangka panjang dan mempertahankan keunggulan operasional," tegasnya.

"Meskipun harus menghadapi volatilitas industri ini, kami percaya bahwa fundamental jangka panjangnya tetap baik dan model bisnis kami terbukti sukses dalam menga-rungi pasang surutnya pasar batu bara. Di masa yang sulit ini, kami berfokus untuk mempertahankan keunggulan operasional dan marjin yang sehat, serta memberikan pasokan batu bara yang andal kepada para pelanggan," jelasnya.

Produksi batu bara Adaro Energy pada semester I-2020 mencapai 27,29 juta ton, atau turun 4% year-on-year (y-o-y). Volume pen-jualan batu bara pada periode ini mencapai 27,13 juta ton, atau turun 6% y-o-y.

Nisbah kupas Adaro Energy pada semester I-2020 tercatat 3,77x karena musim hujan yang panjang di wilayah operasi berdampak ter-hadap aktivitas perusahaan.

Sementara itu, dengan kondisi pasar yang kurang kondusif, mendorong perusahaan untuk merevisi panduan tahun 2020 khusus-nya poduksi menjadi 52 juta ton - 54 juta ton. Jumlah ini lebih rendah dari target di awal tahun yang ditetapkan untuk produksi tahun ini mencapai 54 juta-58 juta ton.


"The sales portfolio in the first semester of 2020 was dominated by E4700 and E4900 which was supported by solid demand for this type of coal. The Southeast Asian market covered 47% of our sales in the first half of 2020, with Indonesia and Malaysia the largest portion."

He explained, in the second quarter of 2020, the thermal coal market was affected more significantly by the Covid-19 pandemic because coal importing countries had to face a large economic impact.

As a result, demand for electricity, and thus for coal, has subsequently plummeted, with a small, sporadic increase in demand towards the end of the quarter as the slow and cautious easing of the "lockdown" was carried out.

This situation depressed coal prices in the second quarter of 2020, with the global COAL Newcastle price dropping to an average of US$ 55.08 per tonne, or down 19% on a q-o-q basis.

"The supply of seaborne [imported coal, international market] in 2Q20 reacted to lower demand, as reflected in the steps of Australia and Indonesia to reduce supply," he said.

"Indonesia's coal production fell 5% yoy in the January-June period due to low demand both in the domestic and seaborne markets, as well as due to lower prices. Simultaneously, Australian shipment volumes have shown a downward trend from April to June."

He explained, China's thermal power plants rose 6.5% y-o-y in the second quarter of 2020 thanks to economic stimulus. The country's imports from January to June reached 136 million tons, or the equivalent of an increase of 18 million tons or 15% from the same period last year.

"Portofolio penjualan pada semester I-2020 didominasi oleh E4700 dan E4900 yang didukung oleh permintaan yang solid untuk jenis batu bara ini. Pasar Asia Tenggara meliputi 47% penjualan kami pada semester I-2020, dengan Indonesia dan Malaysia dengan porsi terbesar."

Dia menjelaskan, pada kuartal kedua 2020, pasar batu bara termal terdampak oleh pandemi Covid-19 secara lebih signifikan karena negara-negara pengimpor batu bara harus menghadapi dampak ekonomi yang besar.

Akibatnya, permintaan terhadap listrik, dan dengan demikian terhadap batu bara, kemudian anjlok, dengan peningkatan permintaan yang berskala kecil dan sporadis menuju akhir kuartal ini seiring pelonggaran "lockdown" yang dilakukan secara perlahan dan waspada.

Situasi ini menekan harga batu bara pada kuartal II-2020, dengan harga globalCOAL Newcastle turun ke rata- rata US$ 55,08 per ton, atau turun 19% secara q-o-q.

"Pasokan seaborne [batu bara impor, pasar internasional] pada 2Q20 bereaksi ter-hadap penurunan permintaan, sebagai-mana tercermin pada langkah Australia dan Indonesia untuk mengurangi pasokan," katanya.

"Produksi batu bara Indonesia turun 5% yoy pada periode Januari-Juni akibat rendahnya permintaan baik di pasar domestik maupun seaborne, serta akibat turunnya harga. Secara bersamaan, volume pengiriman Australia menunjukkan tren yang menurun dari April sampai Juni."

Dia menjelaskan, pembangkit listrik termal China naik 6,5% y-o-y pada kuartal II-2020 berkat adanya stimulus ekonomi. Impor negara ini dari Januari sampai Juni men-capai 136 juta ton, atau setara dengan kenaikan 18 juta ton atau 15% dari periode yang sama tahun lalu.


However, there are still concerns about China's import restrictions until the end of the year. In addition, economic activity and demand for Indian coal remain weak even though the lockdown has been eased, while demand from South Korea and Japan in the first half of 2020 was also affected by a decline in revenue due to the pandemic and limited burning of coal in winter.

On the other hand, Vietnam has surpassed its coal imports in 2Q20 compared to the same period last year due to its PLTU capacity and the prolonged heat wave that occurred in the country.

"Amid the current weak market conditions, the company remains confident in the long-term fundamentals of the thermal coal market as regions such as Southeast Asia and South Asia continue to seek improvements in the electricity sector," he explained.

Metallurgy

In addition, he explained, the Covid-19 pandemic also continues to have an impact on the metallurgical coal market. The price of Platts Premium Low Vol Hard Coking Coal (PLV HCC) fell to US$ 115.00 at the end of June 2020 from US$ 195.45 in the same period in 2019.

Global crude steel production fell by 6% y-o-y in the January-June 2020 period, thus driving a decline in Australian metallurgi-cal coal exports in Q2 2020, with total exports for the January - May period reducing 5% y-o-y.

However, China's steel market is very strong with blast furnace utilization rates soaring to over 90% in May 2020 thanks to the domestic economic recovery, which drove a 5% y-o-y increase in Chinese metallurgical coal imports in the first half of 2020.

Namun, tetap ada kekuatiran akan adanya pembatasan impor China sampai akhir tahun. Selain itu, aktivitas ekonomi dan permintaan batu bara India tetap lemah walaupun lockdown telah dilonggarkan sementara permintaan dari Korea Selatan dan Jepang pada semester I-2020 juga terdampak oleh penurunan pendapatan akibat pandemi dan terbatasnya pem-bakaran batu bara di musim dingin.

Di sisi lain, Vietnam telah melampaui impor batu baranya pada 2Q20 dibandingkan periode yang sama tahun lalu karena kapa-sitas PLTU-nya dan gelombang panas yang berkepanjangan yang terjadi di negara ini.

"Di tengah kondisi pasar yang lemah saat ini, perusahaan tetap yakin dengan funda-mental jangka panjang pasar batu bara termal karena wilayah-wilayah seperti Asia Tenggara dan Asia Selatan terus meng-upayakan peningkatan di sektor ketenaga-listrikan," jelasnya.

Metalurgi

Selain itu, dia menjelaskan, pandemi Covid-19 juga terus berdampak terhadap pasar batu bara metalurgi. Harga Platts Premium Low Vol Hard Coking Coal (PLV HCC) turun ke US$ 115,00 per akhir Juni 2020 dari US$ 195,45 pada periode yang sama di tahun 2019.

Produksi baja mentah global turun 6% y-o-y pada periode Januari-Juni 2020, sehingga mendorong penurunan ekspor batu bara metalurgi Australia di kuartal II-2020, dengan total ekspor periode Januari - Mei berkurang 5% y-o-y.

Namun, pasar baja China sangat kuat dengan tingkat utilisasi tanur tiup (blast furnace) melambung sampai melebihi 90% pada bulan Mei 2020 berkat pemulihan ekonomi domestik, yang mendorong kenaikan sebesar 5% y-o-y pada impor batu bara metalurgi China pada semester I-2020.


"Although demand from other countries outside China is still weak, we are starting to see signs of recovery after the lockdown has been eased. In the long term, we view the fundamentals of the metallurgical coal market as well."

In comparison, Adaro Energy's coal production last year reached 58.03 million tonnes, or 7% higher than the 2018 production achievement and exceeded the production target in 2019 which was set at 54-56 million tonnes.

Adaro's production comes from PT Adaro Indonesia (AI), Balangan Coal Companies and Adaro MetCoal Companies (AMC). (tas/tas)

"Walaupun permintaan dari negara lainnya di luar China masih lemah, kami mulai melihat tanda pemulihan setelah lockdown dilonggarkan. Untuk jangka panjang, kami memandang fundamental pasar batu bara metalurgi juga tetap kuat."

Sebagai perbandingan, tahun lalu, produksi batu bara Adaro Energy mencapai 58,03 juta ton, atau 7% lebih tinggi dari pen-capaian produksi tahun 2018 dan melam-paui target produksi pada 2019 yang ditetapkan sebesar 54-56 juta ton.

Produksi Adaro tersebut berasal dari PT Adaro Indonesia (AI), Balangan Coal Companies dan Adaro MetCoal Companies (AMC). (tas/tas)

Indonesia logs biggest trade surplus in nine years, higher exports for three consecutive months

Adrian Wail Akhlas | The Jakarta Post

INDONESIA recorded the biggest trade surplus in nine years in July as exports rose for a third consecutive month while demand for imports remained weak amid the pandemic.

Exports jumped 14.33 percent month-on-month (mom) in July to US$13.73 billion, continuing the upward trend since May, thanks to rising shipments of agriculture and manufactured goods despite the figure being 9.9 percent lower than in the same month last year, Statistics Indonesia (BPS) announced on Tuesday.

Imports stood at $10.47 billion in July, 32.55 percent lower annually and 2.73 percent lower than June, as domestic demand for consumption and raw materials remain subdued amid the pandemic.

The rise in exports and fall in imports led to a $3.26 billion trade surplus, the highest since August 2011, according to BPS.

“It is impossible for exports to immediately return to positive [annual growth] after an economic slump caused by COVID-19, but the [monthly] improvement is an encouraging sign,” BPS head Suhariyanto told reporters. “We are hoping that exports will continue to rise in the coming months.”

The coronavirus outbreak has hit international trade amid movement restrictions implemented in various countries around the world, including in Indonesia. The World Trade Organization (WTO) projects global trade volumes will contract by between 13 percent at best and 32 percent at worst this year.

https://www.cnbcindonesia.com/market-data/quote/ADRO.JK/ADRO


Indonesia, however, has managed to book a strong trade surplus as imports fall deeper than exports. The country had recorded a trade surplus of $8.75 billion as of July compared to a $2.15 billion deficit logged in the same period last year.

Net exports were also the anchor of Indonesia’s gross domestic product (GDP) in the second quarter as the only positive contributor to the economy amid shrinking household spending, investment and government spending.

The rupiah, however, depreciated 0.34 percent on Tuesday to Rp 14,845 per United States dollar, while the Jakarta Composite Index (JCI) gained 0.9 percent.

BPS data revealed that bullion and jewelry exports recorded the highest increase in July compared to June as gold prices broke the record high in the month, followed by exports of animal and plant fat and oil, vehicles and vehicle parts. Meanwhile, Switzerland, the US and Singapore became the top three export destinations that recorded the highest monthly growth in July.

Exports of manufactured goods, which contributed around 80 percent of total exports, rose 16.95 percent mom to $11.28 billion in July but remained 1.91 percent lower year-on-year (yoy). Exports of agricultural products rose 11.17 percent yoy to $350 million driven by increased exports of bird nests and aromatic medicine, among other things.

Mining products exports, the second-largest contributor, plummeted almost one-third annually to $1.39 billion due to falling coal prices. Oil and gas exports, on the other hand, halved to $700 million due to falling oil prices but increased 23.77 percent mom.

Imports of consumer goods fell 24.11 percent yoy following a sharp decrease of garlic shipments from China and medicine from the United Kingdom, among other items.

Imports of raw materials plummeted 34.36 percent due to lower demand of raw sugar from Brazil and milk from the US while imports of capital goods dropped 29.25 percent yoy.

Indonesia’s exports are expected to drop 5 percent at best or 14 percent at worst this year compared to 2019 as the pandemic disrupted the supply chain and weakened global demand for made-in-Indonesia products, said the lead economic researcher at the Centre for Strategic and International Studies (CSIS), Yose Rizal Damuri.

“China’s economic recovery since April has boosted demand for Indonesian goods,” he said in a phone interview on Tuesday. “That will continue to be the main factor that helps Indonesian exports at a time when demand from other countries has yet to recover.”

Indonesia’s lack of dependence on the international markets will not heavily affect the country’s GDP this year, Yose went on to say, adding that the trajectory of the economy would depend on domestic consumption.

“If the government could handle the pandemic and boost consumption, then progress of economic recovery may become faster.”

The demand from major export destination countries has started to recover following the reopening of economies across the globe, which will further support Indonesia’s exports, Bank Mandiri chief economist Andry Asmoro said.


“Going forward, we see import growth will remain weaker than export growth due to suspensions in some domestic investment projects and production activities amid the COVID-19 pandemic,” he said, adding that the situation might result in a narrow current account deficit.

Perhapi: Reducing production is an option to balance the

domestic coal market Reporter: Ridwan Nanda Mulyana | Editor:

Anna Suci Perwitasari

COAL prices are still remaining at a low level as market pressures have not subsided. The existence of the Covid-19 pandemic has made demand plummet, but coal supply tends to be stable, resulting in

an oversupply.

Chairman of the Indonesian Mining Experts Association (Perhapi) Rizal Kasli said the imbalance between supply and demand caused coal prices to still fall in the index range of US$ 50-US$ 54 per ton.

This condition is exacerbated by the not yet recovering economic conditions in coal importing countries, so that demand does not increase significantly.

Considering these conditions, Rizal proposed a reduction in coal production nationally. When compared with the realization of production in 2019 which reached 616 million tons, Rizal said, Indonesia's coal production this year should be reduced to 50 million tons - 70 million tons.

In the short term, reducing production is the main option that both the government and business actors should try.

Perhapi: Pengurangan produksi jadi opsi seimbangkan pasar

batubara dalam negeri Reporter: Ridwan Nanda Mulyana | Editor:

Anna Suci Perwitasari

HARGA batubara masih berkutat di level yang rendah seiring tekanan pasar yang belum mereda. Adanya pandemi Covid-19 membuat permintaan (demand) anjlok, namun pasokan (supply) batubara masih cenderung stabil sehingga terjadi kele-bihan pasokan (oversupply).

Ketua Umum Perhimpunan Ahli Pertam-bangan Indonesia (Perhapi) Rizal Kasli mengatakan, ketidakseimbangan antara supply dan demand menyebabkan harga batubara masih tersungkur di kisaran index US$ 50-US$ 54 per ton.

Kondisi ini diperparah dengan belum pulihnya kondisi ekonomi di negara-negara pengimpor batubara, sehingga permintaan tidak naik secara signifikan.

Mempertimbangkan kondisi tersebut, Rizal mengusulkan adanya pengurangan pro-duksi batubara secara nasional. Jika dibandingkan dengan realisasi produksi tahun 2019 lalu yang mencapai 616 juta ton, Rizal menyebut, produksi batubara Indonesia pada tahun ini sebaiknya diturunkan hingga 50 juta ton - 70 juta ton.

Untuk jangka pendek, pengurangan pro-duksi adalah opsi utama yang selayaknya dicoba oleh pemerintah maupun pelaku usaha.


"The national production reduction is so that conditions do not oversupply so that prices will be raised to a reasonable level. There is no other alternative but to decrease production, at least to balance the market as a short-term solution," he explained to Kontan.co.id, Tuesday (18/8).

If prices have not strengthened and demand has not yet been lifted, he also projects that the coal production target in the 2020 Work Plan and Budget (RKAB) which is set at 550 million tons will not be achieved. Rizal estimates that the realization could be below the target, or as much as 520 million tons - 530 million tons.

From the information obtained by Perhapi, there are a number of companies that still maintain their production targets as planned at the beginning of the year. There are also those who make revisions to reduce production. However, a number of companies chose to increase their coal production plans.

Even so, from the perspective of corporate business considerations, he considers that it is reasonable to do so. "The increase in production is done to reduce overhead costs so that they can help reduce costs," Rizal explained.

Indeed, the government and a number of business actors are exploring alternative markets to open new export destinations and increase the portion of coal sales. However, Rizal is of the view that this effort is not easy.

"Because the absorption capacity is much lower than the current main export destination countries, namely China and India," he explained.

As an illustration, the potential decline in Indonesia's coal imports in China is around 15 million tons, while in India it is 17 million tons. The decline in coal exports...

"Pengurangan produksi secara nasional agar kondisi tidak oversupply sehingga harga akan terangkat ke level yang wajar. Tidak ada alternatif lain selain penurunan produksi, setidaknya untuk menyeimbang-kan pasar sebagai solusi jangka pendek," jelas dia kepada Kontan.co.id, Selasa (18/8).

Jika harga belum menguat dan demand masih belum terangkat, dia pun mem-proyeksikan target produksi batubara dalam Rencana Kerja dan Anggaran Biaya (RKAB) 2020 yang ditetapkan sebesar 550 juta ton tidak akan tercapai. Rizal menaksir, realisasinya bisa di bawah target atau sebesar 520 juta ton - 530 juta ton.

Dari informasi yang diperoleh Perhapi, ada sejumlah perusahaan yang tetap mem-pertahankan target produksinya seperti rencana awal tahun. Ada juga yang melakukan revisi untuk menurunkan produksi. Namun, sejumlah perusahaan memilih untuk menaikkan rencana produksi batubara.

Kendati begitu, dari sisi pertimbangan bisnis korporasi, dia menilai bahwa hal tersebut wajar dilakukan. "Kenaikan produksi dilakukan untuk menekan biaya overhead sehingga bisa membantu penu-runan biaya," jelas Rizal.

Memang, pemerintah dan sejumlah pelaku usaha tengah menjajaki pasar alternatif untuk membuka tujuan ekspor baru mau-pun memperbesar porsi penjualan batu-bara. Tapi, Rizal berpandangan bahwa upaya tersebut tidak lah mudah.

"Karena daya serapnya jauh lebih rendah dibandingkan negara tujuan ekspor utama saat ini, yaitu China dan India," jelas dia.

Sebagai gambaran, potensi penurunan impor batubara Indonesia di China sekitar 15 juta ton, sedangkan di India mencapai 17 juta ton. Penurunan ekspor batubara...


The decline in coal exports from Indonesia of around 32 million tons will not be able to be transferred to other markets. This is because the absorption potential of markets such as Vietnam is only 1 million -2 million tons, Bangladesh 0.5 million tons and Pakistan only 1 million tons.

At the same time, the absorption from the domestic market will not grow, instead it is likely to fall to 10 million tons. "It is estimated that the volume will start to rise again in 2021 or after the corona (handling) has been successfully implemented in several countries," Rizal said.

Going forward, Indonesia must eradicate dependence on export markets by increasing domestic absorption. This is because dependence on export markets carries a high risk because it is influenced by economic and geopolitical conditions, consumption and energy switching in importing countries.

Increasing the domestic coal market can be done by accelerating the downstreaming of coal, such as for briquettes and the conversion of coal to gas or methanol. Smelter construction also needs to be boosted to increase energy demand.

However, for now, Rizal said that the company can survive by making efficiency, especially from the operational side. For example, by reducing the stripping ratio to a smaller level, thereby reducing production costs, especially from over-burden stripping.

Another effort is to negotiate rates with mining contractors and find new markets. "However, it does not have much effect because it cannot compensate for the demand from large export destinations such as China and India," concluded Rizal.

Penurunan ekspor batubara dari Indonesia sekitar 32 juta ton itu tidak akan mampu dialihkan ke pasar lainnya. Sebab, pasar potensial seperti Vietnam serapannya hanya 1 juta -2 juta ton, Banglades 0,5 juta ton dan Pakistan hanya 1 juta ton.

Pada saat bersamaan, serapan dari pasar domestik pun tak akan tumbuh, malah berpeluang turun hingga 10 juta ton. "Diperkirakan volume akan mulai naik kembali di tahun 2021 atau setelah (penanganan) corona berhasil diterapkan dengan baik di beberapa negara," ungkap Rizal.

Ke depan, Indonesia harus mengikis ketergantungan terhadap pasar ekspor dengan meningkatkan serapan dari dalam negeri. Sebab, ketergantungan pada pasar ekspor memiliki risiko tinggi karena dipengaruhi oleh kondisi ekonomi dan geopolitik, konsumsi serta peralihan energi di negara pengimpor.

Peningkatan pasar batubara dalam negeri bisa dilakukan dengan percepatan hilirisasi batubara, seperti untuk briket dan konversi batubara ke gas atau pun methanol. Pembangunan smelter pun perlu digenjot untuk meningkatkan kebutuhan energi.

Namun untuk saat ini, Rizal mengatakan bahwa perusahaan bisa survive dengan melakukan efisiensi khususnya dari sisi operasional. Misalnya dengan menurunkan tingkat nisbah kupas (stripping ratio) menjadi lebih kecil sehingga menurunkan biaya produksi terutama dari pengupasan tanah penutup (overburden).

Upaya lainnya ialah menegosiasikan rate dengan kontraktor tambang dan mencari market baru. "Namun tidak berpengaruh banyak karena tidak bisa mengkompensasi demand dari tujuan ekspor yg besar seperti China dan India," pungkas Rizal.


Utilization of Red Mud, Aluminum Mining Waste

Author: Ario Bhismo Nugroho, Editor: Ocky PR.

RED Mud, in Indonesian, namely red mud is waste produced by industrial alumina production. Red Mud is alkaline so it is quite dangerous to the environment. This compound is produced through the Bayer process, which is one of the extraction steps of bauxite to produce alumina.

In its use in various worlds, Red Mud is widely used as cement fuel and also as a source of Rare Earth Elements, especially for red mud originating from Ukraine, Russia and China.

How do they take advantage of Red Mud? Here's the review.

RED MUD Composition

The composition owned by Red Mud varies depending on the area of bauxite in production. Reported by UC Rusal Assessment, which is the largest red mud processing company in the world originating from Russia, here are the most frequently used red mud uses:

1. Raw material for making cement

For the use of this category, all categories of red mud that exist throughout the world can be used as materials for making cement. Ukraine has made use of this through the Nikolaev Alumina Refinery company.

2. As an extraction material for Scandium and REE

Utilization of this type is widely carried out in China, Jamaica, and Russia. This is because...

Pemanfaatan Red Mud, Limbah Hasil Tambang Aluminium

Penulis : Ario Bhismo Nugroho, Editor: Ocky PR.

RED Mud, dalam bahasa indonesia yaitu lumpur merah merupakan limbah yang di-hasilkan oleh produksi industri alumina. Red Mud bersifat basa sehingga cukup berbahaya terhadap lingkungan. Senyawa ini dihasilkan melalui bayer process yang merupakan salah satu tahap ekstraksi dari bauksit untuk mem-produksi alumina.

Dalam pemanfaatannya di berbagai dunia, Red Mud banyak digunakan sebagai bahan bakar semen dan juga sebagai sumber Rare Earth Elements, khususnya untuk red mud yang berasal dari wilayah Ukraina, Rusia, dan China.

Bagaimana cara mereka memanfaatkan Red Mud? Berikut ulasannya.

RED MUD Composition

Komposisi yang dimiliki oleh red mud berbeda-beda tergantung wilayah bauksit di produksi. Dilansir oleh UC Rusal Assesment, yang merupakan perusahaan pengolahan red mud terbesar di dunia yang berasal dari Rusia, berikut pemanfaatan red mud yang paling sering digunakan:

1. Material mentah untuk membuat semen

Untuk pemanfaatan kategori ini, seluruh kategori red mud yang ada di seluruh dunia dapat digunakan sebagai bahan untuk mem-buat semen. Pemanfaatan ini telah dilakukan oleh Ukraina melalui perusahaan Nikolaev Alumina Refinery.

2. Sebagai bahan ekstraksi Scandium dan REE

Pemanfaatan jenis ini banyak dilakukan di negara China, Jamaica, dan Rusia. Hal ini dikarenakan...


This is because the red mud content in this country has a high REE content of 90-150 ppm Sc, 300-350 ppm Y and La, up to 600 ppm Ce). The development for extracting Scandium has been carried out in these 3 countries since 2015, the goal is to be able to extract up to 75% Sc. It is known that Scandium is a material that has good properties as an aircraft body material. Usually this material will be combined with aluminum. The proprietary "carbonation" technology is applied without acid waste to the main Bayer processes in the application of the Scandium extraction process.

For REE elements such as Dysprosium (Dy) and Nyodymium (Nd) a pilot project was carried out in 2014 in Jamaica carried out by Nippon Light Metals in collaboration with the Jamaica Bauxite Institute. This project was postponed due to a sharp decline in prices caused by the removal of restrictions on Chinese exports by the World Trade Organization. In addition, the cause of the difficulty of running this project was the high production price to extract REE.

3. Basic materials for steel making

To carry out steel production using red mud, additional investment is required in iron and steel manufacturing facilities, namely the blast furnace. This process has been carried out in many countries such as China, which is the largest producer of Alumina and the largest consumer in the world. This utilization is considered effective because the Fe content in red mud is quite a lot. In China itself, the process of using red mud as a base for blast furnaces is very dependent on the market price of iron ore. The Moscow Institue of Steel and Alloys has also devel oped a new generation of furnaces that can produce pig iron and ore with less energy consumption.

Hal ini dikarenakan kandungan red mud di negara ini memiliki kandungan REE yang sangat banyak 90–150 ppm Sc,300-350 ppm Y and La, sampai 600 ppm Ce). Pengembangan untuk mengekstraksi Scandium telah dilakkan di 3 negara tersebut sejak 2015, tujuannya adalah dapat mengekstraksi Sc hingga 75 %. Diketahui Scandium merupakan salah satu material yang memiliki sifat baik sebagai bahan bodi pesawat terbang. Biasanya material ini akan dipadukan dengan Alumunium. Teknologi "karbonasi" eksklusif digunakan tanpa limbah asam ke proses utama Bayer dalam penerapan proses ekstraksi Scandium.

Untuk unsur REE seperti Dysprosium (Dy) and Nyodymium (Nd) telah dilakukan pilot project pada tahun 2014 di jamaica yang dilakukan oleh Nippon Light Metals bekerja sama dengan Jamaica Bauxite Institute. Project ini sempat ditunda dikarenakan adanya penurunan harga yang cukup tajam yang disebabkan oleh adanya penghapusan pembatasan ekspor China oleh World Trade Organization. Selain itu, penyebab sulitnya berjalannya project ini adalah harga produksi yang tinggi untuk mengekstrak REE.

3. Bahan dasar untuk pembuatan baja

Untuk melakukan produksi baja menggunakan red mud, diperlukan investasi tambahan dalam fasilitas pembuat besi dan baja yaitu blast furnace. Proses ini sudah banyak dilakukan di berbagai negara seperti China yang merupa-kan produsen Alumina terbesar sekaligus konsumen terbesar di dunia. Pemanfaatan ini dinilai efektif dikarenakan kandungan Fe yang terdapat pada red mud cukup banyak. Di China sendiri, proses pemanfaatan red mud sebagai bahan dasar blast furnace sangat tergantung oleh harga pasar biji besi. Moscow Institue of Steel and Alloys juga telah mengembangkan furnace generasi terbaru yang dapat memproduksi pig iron dan juga ampas bijih dengan lebih sedikit mengeluarkan konsumsi energi.


What about the use of red mud in

Indonesia?

Currently, Indonesia already has a bauxite

processing industry located in West

Kalimantan. The industrial development

process will continue until 2021. This

industry is estimated to produce around

4.3 million tons of Chemical Grade Alumina

(CGA) per year and 1.2 million tons of

Smelter Grade Alumina (SGA) per year. So

that the amount of red mud produced is

around 4.4 million tons per year.

Seeing this condition, MIND ID in July 2020

stated firmly that it would make use of red

mud.

The smelter construction is targeted for

completion in 2022, after which a special

smelter will be built to produce red mud.

The construction of the red mud smelter is

currently still in the process of calculating

costs and assessing its economy.

Bagaimana dengan pemanfaatan red

mud di Indonesia?

Saat ini Indonesia sudah memiliki industri

pengolahan bauksit yang terletak di

Kalimantan Barat. Proses pembangunan

industri ini akan terus dilakukan hingga

tahun 2021. Industri ini diperkirakan akan

menghasilkan sekitar 4,3 juta ton Chemical

Grade Alumina (CGA) petahun dan 1,2 juta

ton Smelter Grade Alumina (SGA) pertahun.

Sehingga jumlah red mud yang dihasilkan

berkisar 4,4 juta ton pertahun.

Melihat kondisi ini, MIND ID pada bulan Juli

2020 menyatakan dengan tegas akan

melakukan pemanfaatan terhadap red mud.

Pembangunan smelter tersebut ditargetkan

selesai pada 2022, setelah itu baru akan

dibuat smelter khusus untuk memproduksi

red mud. Pembangunan smelter red mud saat

ini masih dalam tahap penghitungan biaya

dan penilaian mengenai keekonomisannya.

Bad News from India, Coal Prices Will Drop Again?

Tirta Citradi, CNBC Indonesia

NEWCASTLE's benchmark thermal coal price weakened in yesterday's trading.

This time, the bad news from India has

further weighed on the price of coal which

has fallen.

Tuesday (18/8/2020), the coal price for

actively traded contracts slightly

weakened 0.1% to US$ 50.95/ton after

earlier strengthening to US$ 51/ton.

Kabar Buruk dari India, Harga Batu Bara Mau Nyungsep Lagi?

Tirta Citradi, CNBC Indonesia

HARGA batu bara termal acuan Newcastle melemah pada perdagangan kemarin. Kali ini kabar buruk dari India semakin memberatkan harga batu bara yang sudah anjlok.

Selasa (18/8/2020), harga batu bara untuk kontrak yang aktif diperdagangkan melemah tipis 0,1% ke US$ 50,95/ton setelah pada perdagangan sebelumnya menguat ke US$ 51/ton.


Argus reported that the state-owned stun company from India, NTPC, reportedly would not import coal again during the 2020-2021 fiscal year which ends on March 31.

The move follows the projection of lower electricity consumption due to the Covid-19 pandemic and is a form of government efforts to prevent coal consumers,

including utility companies from importing coal to boost domestic coal.

"In this scenario, I don't think we will issue a coal import tender at least this fiscal year," an NTPC official told Argus.

Utilities, which account for about a quarter of India's installed coal-fired power generation capacity, have previously decided to delay receiving most of the coal transported by sea.

The power company is estimated to still receive shipments of around 1.72 million imported coal from a total of 6.35 million tonnes contracted during 2019-20 and 2018-19, which should be sufficient to meet short-term needs.

The country's coal imports fell 1.54 million tonnes from a year earlier to 10.11 million tonnes last month and marked a five straight month decline in coal imports.

The steps taken by NTPC are to maintain the pace of recovery in national coal consumption, given the sti ll weak prospects for India's economic and industrial activities.

Various bad news that beat back and forth made it difficult for the commodity prices of the Kangaroo Country and the country to rise. RESEARCH TEAM CNBC INDONESIA

(twg/twg)

Argus melaporkan perusahaan setrum BUMN asal India NTPC, dikabarkan tak akan mengimpor batu bara lagi selama tahun fiskal 2020-2021 yang berakhir pada 31 Maret.

Langkah tersebut mengikuti proyeksi konsumsi listrik yang lebih rendah akibat pandemi Covid-19 dan sebagai bentuk upaya pemerintah untuk mencegah konsumen batu bara, termasuk perusahaan utilitas mengimpor batu bara guna men-dongkrak batu bara domestik.

"Dalam skenario ini, saya kira kami tidak akan mengeluarkan tender impor batu bara setidaknya pada tahun fiskal ini," kata seorang pejabat NTPC kepada Argus.

Perusahaan utilitas, yang menyumbang sekitar seperempat dari kapasitas pem-bangkit listrik tenaga batu bara terpasang di India, sebelumnya telah memutuskan untuk menunda penerimaan sebagian besar batu bara yang diangkut melalui laut.

Perusahaan listrik tersebut diperkirakan masih menerima pengiriman sekitar 1,72 juta batu bara impor dari total 6,35 juta ton yang dikontrak selama 2019-20 dan 2018-19, yang seharusnya cukup untuk memenuhi kebutuhan jangka pendek.

Impor batu bara negara itu turun 1,54 juta ton dari tahun sebelumnya menjadi 10,11 juta ton bulan lalu dan menandai penurunan lima bulan berturut-turut impor batu bara.

Langkah yang dilakukan NTPC adalah untuk mempertahankan laju pemulihan konsumsi batu bara nasional, mengingat prospek yang masih lemah untuk aktivitas ekonomi dan industri India.

Berbagai kabar buruk yang mendera silih berganti membuat harga komoditas unggulan Negeri Kanguru dan Tanah Air itu susah untuk bangkit. TIM RISET CNBC INDONESIA (twg/twg)


Copper price jumps to 2-year high Frik Els

COPPER prices rallied on Tuesday on the back of falling inventories, unprecedented Chinese economic stimulus and ongoing worries about pandemic-hit supply from top producer South America.

Copper for delivery in September trading in New York changed hands for $2.9815 a pound ($6,573a tonne) in afternoon trade, up 2.8% from Monday’s settlement.

Copper futures prices are on track for the highest close since July 2018 and are now up by more than 50% from the covid-19 lows struck in March.

Stocks down

Copper inventories in warehouses operated by the London Metal Exchange fell to 107,525 tonnes on Tuesday, down by more than two thirds over the past year and the lowest since August 2007.

New York Comex and Shanghai Futures Exchange inventories are up over the past year, but the combined total is still 165,000 tonnes below August 2019.

Chinese stimulus

Copper prices have also been lifted by top consumer China, where unprecedented stimulus measures have increased demand for the metal widely used construction, transportation, industry and electrical grids.

Since the outbreak of the pandemic, Beijing has issued 4.75 trillion yuan ($683 billion) in local and national debt with a focus on encouraging infrastructure projects, according to China Dialogue.

As of the end of June, 63% of funds from local government special bonds had gone to infrastructure investments, primarily in transportation, civic infrastructure and industrial parks, according to figures from GF Securities.

China’s finance ministry has said that 700 billion of the 1 trillion yuan in national special bonds can be used as capital for infrastructure construction (the remainder is to be used for general pandemic-related spending).

Soaring imports

Customs data released last week showed China’s unwrought copper imports (anodes and cathodes) in July rose a stunning 81% from the same month last year to 762,211 tonnes and a full 16% above the previous monthly record set in June.

For the first seven months of 2020, imports are running at 21.7 million tonnes annualized, compared to 2019’s record-breaking tally of 22 million tonnes.

Over the first seven months of the year, imports totalled 3.6m tonnes, on track to easily beat 2018’s annual record of 5.3m tonnes.

https://www.mining.com/author/frik/https://chinadialogue.net/en/climate/chinas-economy-is-recovering-quickly-as-are-its-carbon-emissions/


July imports of copper concentrate rose by more than 12% from June’s 9-month low to 1.795m tonnes, but still down 13.5% from July last year, due to disruptions at mines in Peru, China’s top supplier.

Miner BHP confirms plans to exit thermal coal sector The Sydney Morning Herald:

THE HEAD of mining giant BHP has laid out plans for a reshaping of its global operations by seeking to quit thermal coal mining, offload some coking coal mines and reduce its stake in oil and gas.

Repositioning the company for a lower-carbon future, BHP chief executive Mike Henry on Tuesday confirmed it was examining options to divest from its Mt Arthur mine in NSW and the Cerrejon project in Colombia, both of which mine thermal coal – the kind used in power stations. Mr. Henry surprised investors by adding that BHP also intended to exit the BHP-Mitsui Coal joint venture, which mines coking coal – used in steelmaking – in Queensland, and

https://ieefa.org/miner-bhp-confirms-plans-to-exit-thermal-coal-sector/https://www.smh.com.au/business/companies/bhp-seeking-thermal-coal-exit-profit-falls-short-on-virus-hit-20200817-p55mmj.html


would also seek to find a buyer for its 50 per cent holding in the Gippsland Basin oil and gas fields off Victoria’s coast.

The announcements were made as BHP, the world’s biggest miner, revealed an underlying profit of $US9.1 billion ($12.6 billion) for the financial year on the back of sky-high prices for iron ore. But the profit fell short of analysts’ expectations of $US9.4 billion.

Thermal coal is the world’s most carbon-intensive energy source and the focus of rising investor pressure amid concerns surrounding its contribution to global warming. Rio Tinto, the nation’s second-largest miner, has already removed all exposure to thermal coal.

Mr Henry said BHP would seek to exit the thermal and coking coal assets through either a demerger or a trade sale, while retaining its holdings in higher-quality coking coal mines. BHP would seek to grow its exposure to “future-facing” commodities, primarily copper and nickel – ingredients Mr Henry said would be increasingly required in the manufacture of green-energy technologies.

BHP’s top earner, iron ore, accounted for 66 per cent of its full-year earnings. The price of the commodity has defied predictions it is overdue for a fall and has recently surged above $US120 a tonne amid robust demand from Chinese steel mills and softer output from other exporters such as Brazil’s Vale, which has faced COVID-19 disruptions. Elevated prices of iron ore, Australia’s most valuable export, have also provided a boost to the federal budget. [Nick Toscano]

Covid-19 to reduce global lead production by 5.2% in 2020 Published by Simon Matthis

GLOBAL lead production is expected to decline by 5.2% to 4.5 million tonnes (Mt) in 2020. The outbreak of the COVID-19 pandemic in late December 2019 significantly impacted the mining industry in the first half of 2020, and continues to do so, says GlobalData, a leading data and analytics company.

Overall global lead mine production declined by 3.4% in Q1 2020, compared to the same period in 2019. This was primarily due to the decline in production in China, India and Kazakhstan due to COVID-19 restrictions.

Vinneth Bajaj, Senior Mining Analyst at GlobalData, comments: “In China, production is forecast to decline by 3.5%, to reach 1,985 thousand tonnes (kt) in 2020. The country’s lead mine production declined in the first quarter of 2020, primarily due to restrictive measures taken by the government to contain the virus.

“Several mines and plants had to temporarily cease production activities due to the shortage of workers who could not return to mine sites, owing to the prolonged Lunar New Year holidays, followed by transportation issues due to the lockdown. Although most of the lead producers gradually restarted mine operations, lower demand from the automotive sector is expected to constrain mine production in 2020.”

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In Australia, production is forecasted to fall by 4.2%, even though mining in the country has

not been as severely impacted as in other countries. Production from the rest of world is

anticipated to decline from 2.2Mt in 2019 to 2Mt in 2020 – a drop of 7.1%. Significant

declines will be in Peru (8.4%), the US (6.1%) and India (14.1%).

Bajaj continues: “Looking ahead, lead production over the forecast period (2021–2024) is

expected to grow at a compound annual growth rate (CAGR) of 4.2%, to reach 5.2Mt in 2024.

Peru, Australia and China will be the key contributors to this growth. Combined production in

these countries is expected to recover from a forecasted 2.8Mt in 2021 to 3.3Mt in 2024.”

Bajaj adds: “Key projects expected to commence operations during the forecast period

include the Abra in Western Australia and the P

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