Daily News Update Page 1

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Industry Starts to Stretch, November Coal Price Rises to US$55.71 per ton Industri Mulai Menggeliat, Harga Batu Bara November Naik Jadi US$55,71 per Ton Here's Bukit Asam's Q3-2020 performance, it can make a profit of Rp 1.72 trillion Begini Kinerja Q3-2020 Bukit Asam, Bisa Cetak Laba Rp 1,72 T These are the positive achievements of Timah (TINS) in the third quarter of 2020 financial reports Ini capaian positif yang diraih Timah (TINS) di laporan keuangan kuartal III-2020 This is the Driver for the Increase in Reference Coal Prices (HBA) in November 2020 Ini pendorong kenaikan harga batubara acuan (HBA) di November 2020 Darma Henwa Profit Thin Triggered by an Increase in Cost of Goods Sold Darma Henwa Untung Tipis Dipicu Kenaikan Beban Pokok Penjualan Mining BUMNs Begin to Recover After Coronavirus Hit, Here's the Data BUMN Tambang Mulai Pulih Usai Dihantam Corona, Begini Datanya Reference Coal Prices Rise, Bukit Asam (PTBA) Optimistic To Reach Sales Target Harga batubara acuan naik, Bukit Asam (PTBA) optimistis mencapai target penjualan Indonesia sets Nov HBA thermal coal at $55.71/mt, down 16% on year India-Indonesia joint working group on coal holds discussions Metso Outotec gains more control over solid/liquid separation with Filter Optimizer

Dunia Energi CNBC Indonesia Kontan Kontan Dunia Energi DetikFinance Kontan S&P Global Platts Outlook Int'l Mining

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Daily News Update Page 2

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Chile copper output costs plunged in first half even as pandemic raged - government Barrick raises dividend as profit soars on strong gold prices Kirkland Lake prepares Fosterville for the long haul US presidential election: Joe Biden victory hurt Australian coal exports

Reuters Mining.com Australian Mining Mail Online

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Daily News Update Page 3

Industry Starts to Stretch, November Coal Price Rises to

US$55.71 per ton Rio Indrawan

THE PRICE of reference coal (HBA) in

November 2020 rose 9.23% compared to the October 2020 HBA of US$ 51 per ton, the Ministry of Energy and Mineral Resources (MEMR) through the Directorate General of Mineral and Coal set the November HBA at US$ 55.71 per ton.

Agung Pribadi, the Head of the Bureau of Communication, Public Information Services and Cooperation (KLIK), Ministry of EMR, said that the increase in HBAs this time was triggered by the movement of industries in the East Asia region.

"Positive signals on market demand (for coal) also boosted the November HBA increase. Not to mention the increasing demand from China due to the high domestic coal price compared to the import price,” said Agung, Thursday (5/11).

Agung added that the recovery of industries in Japan and South Korea also contributed to the increase in global coal demand.

"The increase in demand for coal in several countries led to an increase in the average monthly index for HBA compilers, namely the Indonesia Coal Index (ICI), Newcastle Export Index (NEX), Globalcoal Newcastle Index (GCNC), and Platts 5900," said Agung.

Since Covid-19 was declared a global pandemic, the HBA movement ha s fluctuated. The HBA had strengthened 0.28% to US$ 67.08 per ton in March 2020 compared to February 2020 which was pegged at US$ 66.89 per ton.

Industri Mulai Menggeliat, Harga Batu Bara November Naik Jadi US$55,71 per Ton

Rio Indrawan

HARGA Batu Bara Acuan (HBA) November 2020 naik 9,23% dibanding dengan HBA Oktober 2020 sebesar US$51 per ton, Kementerian Energi dan Sumber Daya Mineral (ESDM) melalui Direktorat Jenderal Mineral dan Batubara menetap-kan HBA November US$55,71 per ton.

Agung Pribadi, Kepala Biro Komunikasi, Layanan Informasi Publik dan Kerja Sama (KLIK) Kementerian ESDM, mengungkap-kan kenaikan HBA kali ini dipicu oleh mulai bergeraknya industri di kawasan Asia Timur.

“Sinyalemen positif atas permintaan pasar (batu bara) ikut mendongkrak kenaikan HBA November. Belum lagi meningkatnya permintaan Tiongkok karena tingginya harga batu bara domestik ketimbang harga impor,” kata Agung, Kamis (5/11).

Agung menambahkan pulihnya industri di Jepang dan Korea Selatan juga turut mem-berikan pengaruh terhadap peningkatan permintaan batu bara global.

“Kenaikan permintaan batu bara di bebe-rapa negara menyebabkan naiknya rata-rata indeks bulanan penyusun HBA, yakni Indonesia Coal Index (ICI), Newcastle Export Index (NEX), Globalcoal Newcastle Index (GCNC), dan Platts 5900,” ungkap Agung.

Semenjak Covid-19 ditetapkan sebagai pandemi global, pergerakan HBA meng-alami fluktuasi. HBA sempat menguat sebesar 0,28% ke level US$67,08 per ton pada Maret 2020 dibanding Februari 2020 yang dipatok US$66,89 per ton.

Daily News Update Page 4

Then, the HBA continued to weaken to USD65.77 per tonne in April and USD61.11 per tonne in May. Furthermore, in June 2020, the HBA fell to USD52.98 per tonne, July USD52.16 per tonne, and August USD50.34 per tonne. After falling in September to USD49.42 per ton, the HBA again strengthened in October and November 2020.

"Later, the reference price of USD55.71 per tonne will be used directly in the sale and purchase of coal commodities (spot) during November 2020 at the point of delivery of free on board sales on a carrier vessel (FOB Vessel)," said Agung. (RI)

Kemudian, HBA terus mengalami pele-mahan ke angka USD65,77 per ton pada April dan USD61,11 per ton pada Mei. Selanjutnya, pada Juni 2020, HBA turun ke angka USD52,98 per ton, Juli USD52,16 per ton, dan Agustus USD50,34 per ton. Sempat turun di bulan September menjadi USD 49,42 per ton, HBA kembali menguat di bulan Oktober dan November 2020.

“Nantinya, harga acuan sebesar USD55,71 per ton ini akan digunakan secara langsung dalam jual beli komoditas batu bara (spot) selama bulan November 2020 pada titik serah penjualan secara Free on Board di atas kapal pengangkut (FOB Vessel),” kata Agung. (RI)

Here's Bukit Asam's Q3-2020 performance, it can make a

profit of Rp 1.72 trillion Monica Wareza, CNBC Indonesia

THE STATE-owned coal mining company

PT Bukit Asam Tbk (PTBA) during the January-September 2020 period posted a decrease in net profit of 44.27% on an annual basis (year on year/YoY). The company's net profit at the end of September was recorded at Rp 1.72 trillion, down from the same period in 2019 of Rp 3.10 trillion.

Based on the company's published financial statements, this decrease in net income also has an impact on the decrease in the value of net earnings per share to Rp 155 from Rp 280.

"Not many companies have succeeded (posted) profits in this period, whether they are public companies or not, BUMN or non-BUMN.

Begini Kinerja Q3-2020 Bukit Asam, Bisa Cetak Laba Rp1,72 T

Monica Wareza, CNBC Indonesia

PERUSAHAAN tambang batu bara pelat merah PT Bukit Asam Tbk (PTBA) sepanjang periode Januari-September 2020 ini membukukan penurunan laba bersih mencapai 44,27% secara tahunan (year on year/YoY). Tercatat laba bersih perusahaan akhir September lalu senilai Rp 1,72 triliun, turun dari periode yang sama 2019 sebesar Rp 3,10 triliun.

Berdasarkan laporan keuangan per-usahaan yang dipublikasikan, penurunan laba bersih ini juga berdampak pada turunnya nilai laba bersih per saham menjadi Rp 155 dari Rp 280.

"Tidak banyak perusahaan yang berhasil (membukukan) laba di periode ini, baik itu perusahaan terbuka atau tidak, BUMN atau non BUMN.

Daily News Update Page 5

This achievement is supported by efficiency. The achievement of a profit of Rp 1.7 trillion due to operational work, our production volume for up to 19.4 million tons, 17 tons of transportation, sales of 18.6 million and revenue of Rp 12.8 trillion. With that, the company's profit is Rp 1.7 trillion," said President Director Bukit Asam Arviyan Arifin, during a virtual performance presentation, Friday (6/11/ 2020).

The decline in profit was partly due to the decline in company revenue until the end of the third quarter of 2020 by 20.94% YoY to Rp 12.84 trillion from the revenue at the end of the third quarter of 2019 which was valued at Rp 16.25 trillion.

In addition, there was also an increase in general and administrative expenses to Rp 1.16 trillion from Rp 1.24 trillion in the previous period last year.

Bukit Asam also recorded other expenses of Rp. 815 million from previously generating income in this post of Rp. 241.02 billion.

However, the cost of revenue fell to Rp 9.32 trillion from the previous Rp 10.54 trillion. Sales and marketing expenses also decreased to Rp 525.92 billion from Rp 619.41 billion.

Financial costs have also decreased to Rp. 104.40 billion from Rp. 151.74 billion.

The company also pocketed a larger share of the net profits of associates and joint ventures during this period to Rp 332.08 billion from the previous Rp 94.67 billion.

In terms of assets, there was a decrease to Rp 24.50 trillion from the end of December 2019 which was valued at Rp 26.09 trillion. Current assets were recorded at Rp. 9.36 trillion and non-current assets at Rp. 15.14 trillion.

Pencapaian ini didukung efisiensi. Pen-capaian laba Rp 1,7 triliun karena kerja operasional, volume produksi kita selama sampai 19,4 juta ton, angkutan 17 ton, penjualan 18,6 juta dan pendapatan Rp 12,8 triliun. Dengan itu laba perusahaan Rp 1,7 triliun," kata Direktur Utama Bukit Asam Arviyan Arifin, saat paparan kinerja secara virtual, Jumat (6/11/2020).

Penurunan laba ini salah satunya disebabkan dari turunnya pendapatan perusahaan hingga akhir kuartal III-2020 lalu sebesar 20,94% YoY menjadi sebesar Rp 12,84 triliun dari pendapatan di akhir kuartal III-2019 yang senilai Rp 16,25 triliun.

Selain itu juga terjadi peningkatan beban umum dan administrasi menjadi sebesar Rp 1,16 triliun dari Rp 1,24 triliun di periode sebelumnya tahun lalu.

Bukit Asam juga mencatatkan beban lain-nya senilai Rp 815 juta dari sebelumnya menghasilkan pendapatan di pos ini senilai Rp 241,02 miliar.

Meski demikian, beban pokok pendapatan turun menjadi Rp 9,32 triliun dari sebe-lumnya Rp 10,54 triliun. Beban penjualan dan pemasaran juga turun menjadi Rp 525,92 miliar dari Rp 619,41 miliar.

Biaya keuangan juga berhasil turun men-jadi Rp 104,40 miliar dari sebelumnya senilai Rp 151,74 miliar.

Perusahaan juga mengantongi bagian atas keuntungan neto entitas asosiasi dan ventura bersama yang lebih besar pada periode ini menjadi senilai Rp 332,08 miliar dari sebelumnya senilai Rp 94,67 miliar.

Dari segi aset, terjadi penurunan menjadi Rp 24,50 triliun dari akhir Desember 2019 lalu yang senilai Rp 26,09 triliun. Aset lancar tercatat Rp 9,36 triliun dan aset tak lancar senilai Rp 15,14 triliun.

Daily News Update Page 6

In terms of liabilities, there has been a slight increase in the past nine months, from the previous Rp 7.67 trillion to Rp 7.92 trillion.

However, short-term liabilities decreased to Rp 4.38 trillion from Rp 4.69 trillion previously. Meanwhile, long -term liabilities increased to Rp 3.54 trillion from the previous 31 December 2019 of Rp 2.98 trillion.

The company's equity value was recorded at Rp. 11.57 tril l ion at the end of September 2019, thinning from last year's position of Rp. 18.42 trillion. (hps/hps)

Dari segi liabilitas terjadi kenaikan tipis selama sembilan bulan terakhir, dari sebelumnya Rp 7,67 triliun menjadi senilai Rp 7,92 triliun.

Meski demikian liabilitas jangka pendek turun menjadi Rp 4 ,38 tril iun dari sebelumnya Rp 4,69 triliun. Sedangkan liabilitas jangka panjang naik menjadi Rp 3,54 tril iun dari sebelumnya di 31 Desember 2019 sebesar Rp 2,98 triliun.

Nilai ekuitas perusahaan tercatat sebesar Rp 11,57 triliun di akhir September 2019 lalu, menipis dari posisi akhir tahun lalu yang senilai Rp 18,42 triliun. (hps/hps)

These are the positive achievements of Timah (TINS) in

the third quarter of 2020 financial reports

Reporter: Dimas Andi | Editor: Handoyo

THE MANAGEMENT of PT Timah Tbk

(TINS) noted that there were a number of positive achievements that the company had achieved in its third quarter 2020 financial report. One of them is the position of TINS operating cash flow, which rose from Rp 3.17 trillion in the second quarter of 2020 to Rp 4.84 trillion in the third quarter of 2020.

Another indicator that shows improve-ment in TINS 'financial performance is on the EBITDA side. In the third quarter of 2020, TINS booked an EBITDA of Rp 850.36 billion, an increase compared to the second quarter of 2020 of Rp 338.72 billion.

In terms of short-term debt, TINS also continues to experience improvements. In the third quarter of 2020,...

Ini capaian positif yang diraih Timah (TINS) di laporan

keuangan kuartal III-2020 Reporter: Dimas Andi | Editor: Handoyo

MANAJEMEN PT Timah Tbk (TINS)

mencatat adanya sejumlah capaian positif

yang diraih perusahaan tersebut dalam

laporan keuanga kuartal III-2020. Salah

satunya adalah posisi arus kas operasi

TINS yang naik dari Rp 3,17 triliun di

kuartal II-2020 menjadi Rp 4,84 triliun di

kuartal III-2020.

Indikator lain yang menunjukkan mem-

baiknya performa keuangan TINS ada di

sisi EBITDA. Pada kuartal III-2020, TINS

membukukan EBITDA sebesar Rp 850,36

miliar atau meningkat dibandingkan

kuartal II-2020 sebesar Rp 338,72 miliar.

Dari sisi utang jangka pendek, TINS juga

terus mengalami perbaikan. Pada kuartal

III-2020...

Daily News Update Page 7

In the third quarter of 2020, TINS's short-term bank debt was at the level of Rp. 4.74 trillion or a decrease of 46.10% when compared to the position in 2019 of Rp. 8.79 trillion. As for long-term loans, TINS has paid off bonds of Rp. 600 billion.

"The improvement in operating cash flow and EBITDA is an indicator of TINS 'financial health, so that the company is able to fulfill part of its short and long term liabilities," explained TINS Finance Director Wibisono in a press release received by Kontan, Thursday (5/11).

From the bottom line, in the third quarter of 2020 TINS recorded a loss of Rp 255.16 billion. This amount is better than the loss in the second quarter of 2020 amounting to Rp 390.07 billion.

Wibisono said, TINS strives to improve financial performance by improving cash flow and EBITDA. By maximizing cash flow and EBITDA, it is hoped that the company's financial performance will improve and become healthier.

Furthermore, the perspective of the third quarter of 2020 shows improvement compared to the second quarter of 2020, including TINS Gross Profit Margin (GPM), which rose to 6.40% from 3.13% previously. In addition, TINS Net Profit Margin increased from -4.89% to -2.15%.

Wibisono explained, in terms of operational performance in the third quarter of 2020, TINS booked tin ore production of 34,592 tons or a decrease of 47.44% (yoy) compared to the same period in the previous year of 65,819 tons.

This also affects TINS 'financial income. As of the third quarter of 2020, TINS revenue was recorded at Rp 11.8 trillion or 18.42% lower (yoy) compared to the third quarter of 2019 amounting to Rp 14.56 trillion.

Pada kuartal III-2020 posisi utang bank jangka pendek TINS berada di level Rp 4,74 triliun atau menurun 46,10% jika dibanding-kan dengan posisi di tahun 2019 sebesar Rp 8,79 triliun. Sedangkan untuk pinjaman jangka panjang, TINS telah melaksanakan pelunasan obligasi sebesar Rp 600 miliar.

“Membaiknya arus kas operasi dan EBITDA merupakan indikator sehatnya finansial TINS, sehingga perusahaan ini mampu me-nunaikan sebagian kewajiban jangka pendek maupun jangka panjang,” jelas Direktur Keuangan TINS Wibisono dalam siaran pers yang diterima Kontan, Kamis (5/11).

Dari sisi bottom line, pada kuartal III-2020 TINS mencatatkan rugi sebesar Rp 255,16 miliar. Jumlah ini lebik baik dibandingkan dengan rugi di kuartal-II 2020 sebesar Rp 390,07 miliar.

Wibisono berujar, TINS berupaya memper-baiki kinerja keuangan melalui perbaikan arus kas dan EBITDA. Dengan memaksimal-kan arus kas dan EBITDA, diharapkan performa keuangan perusahaan membaik dan semakin sehat.

Lebih lanjut, perspektif kuartal III-2020 menunjukkan perbaikan dibandingkan dengan kuartal II-2020 antara lain Gross Profit Margin (GPM) TINS yang naik menjadi 6,40% dari sebelumnya 3,13%. Disamping itu, Net Profit Margin TINS meningkat dari sebelumnya -4,89% menjadi -2,15%.

Wibisono menjelaskan, dari sisi kinerja operasi di kuartal-III 2020, TINS membuku-kan produksi bijih timah sebesar 34.592 ton atau turun sebesar 47,44% (yoy) dibanding-kan periode yang sama tahun sebelumnya sebesar 65.819 ton.

Hal ini juga mempengaruhi pendapatan keuangan TINS. Per kuartal III-2020 pendapatan TINS tercatat sebesar Rp 11,8 triliun atau lebih rendah 18,42% (yoy) dibandingkan kuartal III-2019 sebesar Rp 14,56 triliun.

Daily News Update Page 8

"The decline in tin ore production is strongly felt in view of the dynamics of the

tin business in Bangka Belitung in the second semester. Of course this will also

have an impact on the company's revenue,” explained Wibisono.

With this condition, TINS will also carry

out several strategies to improve the company's condition. Among them are

optimizing the production of the company's Mining Business Permit (IUP),

reducing the number of tin ore leakages, maximizing law enforcement efforts

related to production operations on company concession permits, and

continuing to implement efficiency strategies.

"We are optimistic that the performance

will get better in the fourth quarter. Of course this is not easy because the

company is trying hard at this time. Thank you for your support, hopefully we can go

in a better direction," concluded Wibisono.

“Penurunan produksi biji timah sangat

dirasakan melihat dinamika bisnis

pertimahan di Bangka Belitung di semester

kedua. Tentunya hal ini juga berdampak

pada pendapatan perusahaan,” terang

Wibisono.

Dengan kondisi ini , TINS juga akan

melakukan beberapa strategi untuk mem-

perbaiki kondisi perusahaan. Di antaranya

adalah mengoptimalkan produksi dari Izin

Usaha Pertambangan (IUP) milik per-

usahaan, mereduksi angka kebocoran bijih

timah, memaksimalkan upaya penegakan

hukum yang terkait dengan operasi

produksi pada izin konsesi perusahaan,

dan tetap melakukan strategi efisiensi.

“Kami optimis kinerja akan semakin baik

di kuartal IV. Tentu hal tersebut tidak

mudah karenanya perusahaan berupaya

dengan keras untuk saat ini. Terima kasih

atas dukungannya semoga kami dapat

menuju ke arah yang lebih baik,” tutup

Wibisono.

This is the Driver for the Increase in Reference Coal

Prices (HBA) in November 2020 Reporter: Akhmad Suryahadi | Editor:

Wahyu T. Rahmawati

THE REFERENCE coal price (HBA) for the

November 2020 period increased. The Ministry of Energy and Mineral Resources (ESDM) set this month's HBA at US$ 55.71 per ton. This HBA was up 9.23% compared to the HBA for the October 2020 period which at that time was at US$ 51 per ton.

Ini pendorong kenaikan harga batubara acuan (HBA) di

November 2020 Reporter: Akhmad Suryahadi | Editor:

Wahyu T. Rahmawati

HARGA batubara acuan (HBA) periode

November 2020 naik. Kementerian Energi dan Sumber Daya Mineral (ESDM) me-netapkan HBA bulan ini sebesar US$ 55,71 per ton. HBA ini naik 9,23% dibandingkan dengan HBA periode Oktober 2020 yang kala itu berada di angka US$ 51 per ton.

Daily News Update Page 9

Director of Research and Investment of Pilarmas Investindo Sekuritas Maximilianus Nico Demus revealed, the increase in the benchmark coal price in November was inseparable from the recovery in economic activity. Nico assessed that the difficult times facing the world economy have almost completely passed, even though a number of countries in Europe have the potential to face the second wave of Covid-19.

Moreover, the economic conditions of a number of Indonesia's trading partners have started to recover. Like China, for example, whose industrial activities have started to experience a recovery which in turn will boost the demand for this black gold.

"Not only China, but Japan and South Korea are also increasing. This is a good point that our mining industry has recovered," said Nico to Kontan.co.id, Thursday (5/11).

Thus, the increase in the HBA can provide a soft cushion for coal commodities to return to above the US$ 60 level and prepare themselves for 2021. Going forward, the prospect of coal commodities is also determined by Joe Biden's victory as President of the United States (US) elected.

What should be the market's attention is, if Biden is elected, there will be a potential for capital inflow to the country. This is because one of the policies of the former vice president in the Barack Obama administration is to increase the corporate or corporate income tax rate (PPh) to 28% from the current 21%.

If many companies in Uncle Sam's country prefer corporate tax of 21%, then there is a possibility that US companies will choose to move their business overseas. including Indonesia. As a result, foreign direct investment (FDI) has the potential to increase.

Direktur Riset dan Investasi Pilarmas Investindo Sekuritas Maximilianus Nico Demus membeberkan, kenaikan harga batu-bara acuan di November tidak terlepas dari pulihnya aktivitas perekonomian. Nico menilai, masa-masa sulit yang dihadapi perekonomian dunia sudah seluruhnya hampir terlewati, meskipun sejumlah negara di Eropa berpotensi menghadapi gelombang kedua Covid-19.

Terlebih, kondisi ekonomi sejumlah mitra dagang Indonesia sudah mulai pulih kembali. Seperti China misalnya, yang kegiatan industrinya sudah mulai mengalami pemu-lihan yang pada akhirnya mendorong permintaan akan emas hitam ini.

“Tidak hanya China, tetapi di Jepang dan Korea Selatan juga meningkat. Ini menjadi ini poin yang bagus bahwa industri pertam-bangan kita sudah pulih kembali,” ujar Nico kepada Kontan.co.id, Kamis (5/11).

Dus, kenaikan HBA ini bisa menjadi bantalan empuk bagi komoditas batubara untuk kembali ke atas level US$ 60 dan mem-persiapkan diri untuk menghadapi tahun 2021. Ke depan, prospek komoditas batu-bara juga ditentukan oleh kemenangan Joe Biden sebagai Presiden Amerika Serikat (AS) terpilih.

Yang harus menjadi perhatian pasar adalah, jika Biden terpilih maka akan ada potensi terjadinya capital inflow ke tanah air. Sebab, salah satu kebijakan mantan wakil presiden di pemerintahan Barack Obama tersebut adalah menaikkan tarif Pajak Penghasilan (PPh) Badan atau korporasi menjadi 28% dari saat ini 21%.

Jika perusahaan di Negeri Paman Sam tersebut banyak yang lebih memilih pajak badan sebesar 21%, maka ada kemungkinan perusahaan AS memilih memindahkan usahanya ke luar negeri . termasuk Indonesia. Alhasil, investasi asing langsung atawa foreign direct investment (FDI) ber-potensi naik.

Daily News Update Page 10

Second, the extension of the generalized system of preferences (GSP) facility from

the United States (US) for imported goods from Indonesia and the potential for

Indonesia to get a limited trade deal. "Although it is not directly related to the

mining sector, we see that if Joe Biden wins, the capital inflow will make the

industry stretch again. We think this will be a good point," concluded Nico.

In addition, the heating up relations

between China and Australia could also be an opportunity for Indonesia to increase its

share of exports to the Kangaroo country. To note, Beijing has begun to ban seven

commodities, namely barley (wheat), sugar, red wine, wood, coal, lobster, copper

ore, and copper concentrate from Australia from entering China starting Friday

(30/10).

Kedua, perpanjangan fasilitas generalized system of preferences (GSP) dari Amerika Serikat (AS) terhadap barang impor dari Indonesia serta adanya potensi Indonesia mendapatkan limited trade deal. “Meskipun tidak berkaitan langsung dengan sektor mining, kami melihat adanya capital inflow jika Joe Biden menang akan membuat industri kembali menggeliat. Kami berpikir ini akan menjadi poin yang bagus,” pungkas Nico.

Selain itu, memanasnya hubungan antara China dengan Australia juga bisa menjadi peluang bagi Indonesia untuk mening-katkan porsi ekspornya ke Negeri Kanguru tersebut. Untuk diketahui, Beijing mulai melarang tujuh komoditas yakni barley (gandum), gula, anggur merah, kayu, batubara, lobster, bijih tembaga, hingga konsentrat tembaga dari Australia untuk masuk ke China mulai Jumat (30/10).

Darma Henwa Profit Thin Triggered by an Increase in Cost

of Goods Sold Editor

PT DARMA Henwa Tbk (DEWA), a mining

service company affiliated with the Bakrie

Group, recorded an increase in revenue during January-September 2020 compared

to the same period last year.

In financial information (unaudit) in print media, Friday (6/11), until the end of the

third quarter of 2020, Darma Henwa posted revenues of US$ 169.1 million, an

increase compared to the same period last year of US$ 129.57 million (year-on-

year/yoy).

Darma Henwa Untung Tipis Dipicu Kenaikan Beban Pokok

Penjualan Redaktur

PT DARMA Henwa Tbk (DEWA), per-

usahaan jasa tambang terfafiliasi Grup

Bakrie, mencatatkan kenaikan pendapatan

sepanjang Januari-September 2020 di-

bandingkan periode sama tahun lalu.

Dalam informasi keuangan (unaudit) di

media cetak, Jumat (6/11), hingga akhir

kuartal III 2020, Darma Henwa mem-

bukukan pendapatan US$ 169,1 juta, naik

dibandingkan periode sama tahun lalu US$

129,57 juta (year-on-year/yoy).

Daily News Update Page 11

The increase in income was not

accompanied by a decrease in cost of

revenue (COGS). Until the end of

September 2020, Darma Henwa recorded

COGS of US$ 168.18 million, an increase

compared to US$ 120.73 million (yoy).

Thus, gross profit fell from US$ 8.9 million

to US$ 922,307. Luckily, Darma Henwa

earned other income from the difference in

exchange rates of US$ 11.95 million

compared to the same period last year

which lost US$ 1.4 million in exchange

rates. Total other income at the end of

September 2020 was recorded at US$ 5.6

million compared to a loss of US$ 7.9

million in the same period last year.

Darma Henwa's total net profit until the

end of 2020 was US$ 727,448 thousand, an

increase compared to the loss in the same

period in 2019 which was recorded at US$

1.57 million.

On the other hand, total assets increased

from US$ 549.5 million to US$ 580.83 million. This consists of current assets

which decreased from US$ 204.83 million to US$ 191.26 million. Meanwhile, non-

current assets rose to US$ 389 million from US$ 344.68 million.

Meanwhile, the amount of debt actually

decreased from US$ 315.25 million to US$ 312.2 million. This consists of short-term

debt that has increased from US$ 197 million to US$ 220 million and long-term

debt that has decreased from US$ 119.2 million to US$ 91.6 million. Meanwhile,

equity decreased from US$ 234.26 million to US$ 268.6 million. (DR)

Peningkatan pendapatan tidak dibarengi

dengan berkurangnya beban pokok pen-

dapatan (COGS). Hingga akhir September

2020, Darma Henwa mencatatkan COGS

US$ 168,18 juta, naik dibandingkan US$

120,73 juta (yoy)

Dengan demikan laba kotor turun dari US$

8,9 juta menjadi US$ 922.307. Beruntung

Darma Henwa memperoleh penghasilan

lain-lain dari selisih kurs US$ 11,95 juta

dibandingkan periode sama tahun lalu

yang rugi kurs US$ 1,4 juta. Jumlah

pendapatan lain-lain akhir September

2020 tercatat US$ 5,6 juta dibandingkan

rugi US$ 7,9 juta pada periode sama tahun

lalu.

Total laba bersih Darma Henwa hingga

akhir 2020 sebesar US$ 727.448 ribu, naik

dibandingkan rugi pada periode sama

2019 yang tercatat US$ 1,57 juta.

Di sisi lain, jumlah aset bertambah dari US$

549,5 juta menjadi US$ 580,83 juta. Ini

terdiri atas aset lancar yang turun dari

US$204,83 juta menjadi US$191,26 juta.

Sementara aset tidak lancar naik menjadi

US$389 juta dari US$ 344,68 juta.

Adapun jumlah utang justru turun dari US$

315,25 juta menjadi US$ 312,2 juta. Ini

terdiri atas utang jangka pendek yang naik

dari US$ 197 juta menjadi US$ 220 juta dan

utang jangka panjang yang turun dari US$

119,2 juta menjadi US$ 91,6 juta. Sedang-

kan ekuitas, turun dari US$ 234,26 juta

menjadi US$ 268,6 juta. (DR)

Daily News Update Page 12

Mining BUMNs Begin to Recover

After Coronavirus Hit, Here's the Data

Detikcom team - detikFinance

THE FINANCIAL performance of PT

Timah Tbk shows improved performance in the third quarter of 2020. This can be seen from the company's operating cash flow of Rp 4.84 trillion, up compared to the second quarter of 2020 of Rp 3.17 trillion.

Another indicator that shows t he improvement in the Company's financial performance is in terms of EBITDA, in the third quarter of 2020, EBITDA was recorded at Rp 850.36 billion, an increase compared to the second quarter of Rp 338.72 billion.

In terms of short-term debt, PT Timah also continued to experience improvement, in the third quarter the position of short-term bank debt of Rp 4.74 trillion decreased by 46.10% compared to 2019 which amounted to Rp 8.79 trillion. As for long-term loans, the Company has paid off bonds amounting to Rp 600 billion.

"The improvement in operating cash flow and EBITDA is an indicator of the issuer's financial health, so that TINS is able to fulfill some of its short and long-term obligations," said Finance Director of PT Timah Tbk, Wibisono, Thursday (5/11/ 2020).

In terms of profit, in the third quarter the Company recorded a loss of Rp 255.16 billion, better than the loss in the second quarter of 2020 of Rp 390.07 billion. "The company seeks to improve the company's financial performance by improving cash flow and EBITDA,...

BUMN Tambang Mulai Pulih

Usai Dihantam Corona, Begini Datanya

Tim detikcom - detikFinance

KINERJA Keuangan PT Timah Tbk me-

nunjukkan performa membaik di kuartal III tahun 2020. Hal ini terlihat dari cashflow operasi perusahaan sebesar Rp 4,84 trilun naik dibandingkan kuartal II tahun 2020 sebesar Rp 3,17 triliun.

Indikator lain yang menunjukkan mem-baiknya performa keuangan Perseroan yakni dari sisi EBITDA, pada kuartal III tahun 2020 tercatat EBITDA sebesar Rp 850,36 miliar meningkat dibandingkan kuartal II sebesar Rp 338,72 miliar.

Dari sisi utang jangka pendek PT Timah juga terus mengalami perbaikan, di kuartal III posisi utang bank jangka pendek sebesar Rp 4,74 triliun menurun 46,10% jika dibandingkan dengan tahun 2019 sebesar Rp 8,79 triliun. Sedangkan untuk pinjaman jangka panjang, Perseroan telah melaksanakan pelunasan obligasi sebesar Rp 600 miliar.

"Membaiknya cashflow operasi dan EBITDA merupakan indikator sehatnya finansial emiten, sehingga TINS mampu menunaikan sebagian kewajiban jangka pendek maupun jangka panjang," kata Direktur Keuangan PT Timah Tbk, Wibisono, Kamis (5/11/2020).

Dari sisi laba, pada kuartal III Perseroan mencatatkan rugi sebesar Rp 255,16 miliar lebik baik dibandingkan dengan rugi di kuartal II tahun 2020 sebesar Rp 390,07 miliar. "Perseroan berupaya memperbaiki kinerja keuangan perusahaan melalui perbaikan cashflow dan EBITDA,...

Daily News Update Page 13

"The company seeks to improve the company's financial performance by improving cash flow and EBITDA, by maximizing cash flow and EBITDA, it is expected that the company's financial performance will improve and become healthier," he explained.

The perspective of the third quarter of 2020 shows improvement compared to the second quarter, including the Gross Profit Margin (GPM) which rose to 6.40% from 3.13% previously. In addition, Net Profit Margin increased from -4.89% to -2.15% previously.

Wibisono explained, in terms of operational performance in the third quarter, tin ore production was recorded at 34,592 tonnes or a decrease of 47.44% from 2019 amounting to Rp 65,819 tonnes. This also affects the company's financial income. Financial performance as of September 30, 2020 recorded revenues of Rp. 11.8 trillion, 18.42% lower than in 2019 of Rp. 14.56 trillion.

"The decline in tin ore production is highly felt by seeing the dynamics of the tin business in Bangka Belitung in the second semester, and of course this will also have an impact on the Company's revenue," he explained.

With these conditions, the Company will also carry out several strategies to improve the company's conditions, including by optimizing production from its IUP, reducing the number of tin ore leakages in the Company's mining business permits, maximizing law enforce-ment efforts related to production operations in the Company's concession permits and continuing to implement efficiency strategies.

"We are optimistic that it will get better in the fourth quarter, of course this is not easy. The company is trying hard for now, thank you for your support. I hope the Company can lead to a better direction," he concluded. (dna/dna)

"Perseroan berupaya memperbaiki kinerja keuangan perusahaan melalui perbaikan cashflow dan EBITDA, dengan memak-simalkan cashflow dan EBITDA diharapkan performa keuangan perusahaan membaik dan semakin sehat," terangnya.

Perspektif kuartal III 2020 menunjukkan perbaikan dibandingkan dengan kuartal II antara lain Gross Profit Margin (GPM) yang naik menjadi 6,40% dari sebelumnya 3,13%. Disamping itu, Net Profit Margin meningkat dari sebelumnya -4,89% menjadi -2,15%.

Wibisono menjelaskan, dari sisi kinerja operasi di kuartal III tercatat produksi bijih timah sebesar 34.592 ton atau turun sebesar 47,44% dari tahun 2019 sebesar Rp 65.819 ton. Hal ini juga mempengaruhi pendapatan keuangan perusahaan. Kinerja keuangan per 30 September 2020 men-catatkan pendapatan sebesar Rp 11,8 triliun, lebih rendah 18,42% dibandingkan dengan tahun 2019 sebesar Rp 14,56 triliun.

"Penurunan produksi biji timah sangat dirasakan melihat dinamika bisni s pertimahan di Bangka Belitung di Semester dua ini, dan tentunya hal ini juga ber-dampak pada pendapatan Perseroan," terangnya.

Dengan kondisi ini, Perseroan juga akan melakukan beberapa strategi untuk mem-perbaiki kondisi perusahaan diantaranya dengan mengoptimalkan produksi dari IUPnya, mereduksi angka kebocoran bijih timah di izin usaha pertambangan Persero-an, memaksimalkan upaya penegakan hukum yang terkait dengan operasi produksi pada izin konsesi Perseroan dan tetap melakukan strategi efisiensi.

"Kita optimis semakin baik di kuartal IV, tentu hal tersebut tidak mudah, perusahaan berupaya dengan keras untuk saat ini, terimakasih atas dukungannya semoga Perseroan dapat menuju kearah yang lebih baik," tutupnya. (dna/dna)

Daily News Update Page 14

Reference Coal Prices Rise, Bukit Asam (PTBA) Optimistic To

Reach Sales Target Reporter: Akhmad Suryahadi | Editor:

Wahyu T. Rahmawati

THE REFERENCE coal price (HBA) for the

November 2020 period rose again. The Ministry of Energy and Mineral Resources (ESDM) set this month's HBA at US$ 55.71 per ton, up 9.23% compared to last month's HBA at US$ 51 per ton.

The benchmark coal price has increased in the last two months. In October 2020, the HBA was set at the level of US$ 51 per ton, an increase of 3.2% from the HBA in September 2020 which was at US$ 49.42 per ton. Meanwhile, the HBA in September 2020 was set at the level of US$ 49.42 per ton or a slight decrease of US$ 0.92 per ton from the previous month's reference price of US$ 50.34 per ton.

Apollonius Andwie, Corporate Secretary of PT Bukit Asam Tbk (PTBA), assessed that the increase in HBA provides benefits for this South Sumatra-based company. This is because PTBA's coal sales have a large portion for the domestic market.

Kontan.co.id notes that the total sales of Bukit Asam's coal in the first six months of 2020 reached 12.5 million tons. Export sales amounted to 5.2 million tonnes or 41.4% of the total sales volume and sales to the domestic market reached 7.3 million tonnes or 58.6% of the total sales volume.

"Seeing the price increase, PTBA is optimistic that it can achieve this year's sales target of 24.9 million tons," said Apollonius to Kontan.co.id, Thursday (5/11).

Harga batubara acuan naik, Bukit Asam (PTBA) optimistis mencapai target penjualan

Reporter: Akhmad Suryahadi | Editor: Wahyu T. Rahmawati

HARGA batubara acuan (HBA) periode

November 2020 naik lagi. Kementerian Energi dan Sumber Daya Mineral (ESDM) menetapkan HBA bulan ini sebesar US$ 55,71 per ton, naik 9,23% dibandingkan dengan HBA bulan lalu US$ 51 per ton.

Harga batubara acuan naik dalam dua bulan terakhir. Pada Oktober 2020, HBA ditetap-kan di level US$ 51 per ton, naik sebesar 3,2% dari HBA pada September 2020 yang sebesar US$ 49,42 per ton. Sementara HBA di September 2020 ditetapkan di level US$ 49,42 per ton atau turun tipis US$ 0,92 per ton dari harga acuan bulan sebelumnya, yakni US$50,34 per ton.

Apollonius Andwie, Sekretaris Perusahaan PT Bukit Asam Tbk (PTBA) menilai kenaikan HBA memberikan keuntungan bagi emiten yang berbasis di Sumatra Selatan ini. Sebab, penjualan batubara PTBA memiliki porsi yang besar untuk pasar domestik.

Catatan Kontan.co.id, penjualan keseluruhan batubara Bukit Asam pada enam bulan pertama 2020 mencapai 12,5 juta ton. Penjualan ekspor sebesar 5,2 juta ton atau 41,4% dari total volume penjualan dan penjualan ke pasar domestik mencapai 7,3 juta ton atau setara 58,6% dari total volume penjualan.

“Melihat kenaikan harga tersebut, PTBA optimis dapat mencapai target penjualan tahun ini yaitu sebesar 24,9 juta ton,” ujar Apollonius kepada Kontan.co.id, Kamis (5/11).

Daily News Update Page 15

Bukit Asam assessed that this month's HBA increase was inseparable from the recovery in the performance of power plants in Asia, including Indonesia. In Indonesia, the recovery in electricity demand has prompted a recovery in coal demand. This is a factor that plays a role in the increase in the HBA.

Apollonius continued, this HBA increase could continue if the economic recovery, both domestically and in countries in the Asian region as a destination for coal exports, continued to improve.

But this is also inseparable from the Covid19 pandemic which will affect government policy in restoring domestic economic activity . " If the Covid19 pandemic also continues to show progress in a better direction, we are optimistic that the HBA increase will continue for the following months," he concluded.

Bukit Asam menilai, kenaikan HBA bulan ini tidak terlepas dari pemulihan kinerja pembangkit listrik di kawasan Asia, termasuk Indonesia. Di Indonesia, pemulihan permintaan listrik mendorong mulai pulihnya permintaan batubara. Inilah yang menjadi faktor yang berperan atas kenaikan HBA.

Apollonius melanjutkan, kenaikan HBA ini dapat terus berlanjut apabila pemulihan ekonomi, baik dalam negeri maupun di negara-negara kawasan Asia sebagai tujuan ekspor batubara terus membaik.

Namun hal ini juga tidak terlepas dari pandemi Covid19 yang akan mempengaruhi kebijakan pemerintah dalam pemulihan kegiatan ekonomi dalam negeri. “Jika pandemi Covid19 juga terus menunjukkan perkembangan ke arah yang lebih baik, kami optimistis bahwa kenaikan HBA akan berlanjut untuk bulan-bulan berikutnya,”

tutup dia.

Indonesia sets Nov HBA thermal coal at $55.71/mt, down 16% on year

Author: Fred Wang, Anita Nugraha Editor: Norazlina Jumaat

INDONESIA's Ministry of Energy and Mineral Resources set its November thermal coal

reference price -- also known as Harga Batubara Acuan, or HBA -- at $55.71/mt, down 15.9%

year on year, but up 9.2% from October, according to a ministry official.

"HBA rose on month with an increase in China's seaborne demand as the domestic coal prices

are more expensive compared with imported coal," the official said.

"Coal demand from Japan and South Korea have also improved," the official added.

The HBA price was at $67.09/mt in March and has been on a downtrend since then, slumping to its lowest of $49.42/mt in September amid the coronavirus pandemic, the official said.

The ministry had set the HBA price for October at $51/mt, and for November 2019 at $66.27/mt.

Daily News Update Page 16

The HBA is a monthly average price based 25% each on Platts Kalimantan 5,900 kcal/kg GAR assessments, Argus-Indonesia Coal Index 1 (6,500 kcal/kg GAR), Newcastle Export Index (6,322 kcal/kg GAR) and globalCOAL Newcastle (6,000 kcal/kg NAR).

In October, the daily Platts FOB Kalimantan 5,900 kcal/kg GAR coal assessment averaged $50.63/mt, up 10.5% from $45.80/mt in September.

The HBA price for thermal coal is the basis for determining the prices of 77 Indonesian coal products and calculating the amount of royalty producers have to pay for each metric ton of coal sold. It is based on 6,322 kcal/kg GAR coal with 8% total moisture content, 15% ash as received and 0.8% sulfur as received.

India-Indonesia joint working group on coal holds discussions

THE FIFTH Joint Working Group (JWG) on coal between India and Indonesia discussed

various issues through video conferencing and the coal ministry provided an overview of the

domestic coal sector.

The meeting of the JWG was hosted through video conferencing due to travel restrictions on account of COVID-19 pandemic.

It was chaired from the Indian side by Additional Secretary at the coal ministry Vinod Kumar Tiwari. From the Indonesian side, the meeting was chaired by Jonson Pakpahan, Director for

Mineral and Coal, Non Tax State Revenue of Ministry of Energy and Mineral Resources, the ministry said in a statement on Thursday.

In his opening remarks, Tiwari provided an overview of the coal sector in India and presented

emerging scenario for the future.

He highlighted India''s initiatives for self-sufficiency in coal under Aatmanirbhar Bharat and imperatives for businesses in coal sector in both the countries.

The ministry made presentations on Indian coal policy reforms, coking coal exploration and commercial mining, followed by presentations by the Indonesian side on coal policy and

current coal business updates, deep seated coal potential in Indonesia, according to the statement.

For flagging the legacy trade issues by investors, a B2B session coordinated by Confederation

of Indian Industry (CII) provided for frank discussions and sought resolution of issues by the Governments of Indonesian and India, it added.

"Emerging business opportunities in both the countries were highlighted by respective

delegations," the statement said. PTI SID RAM

Daily News Update Page 17

Metso Outotec gains more control over solid/liquid separation with Filter Optimizer

Posted by Daniel Gleeson

METSO Outotec has introduced a Filter Optimizer to further boost the performance of its

Larox® PF filter in the mining and chemical industry processes.

The optimiser improves the PF filter performance by enabling more precise control over the solid/liquid separation process, according to the company. It is intended to stabilise the effect

of upstream process variations, provide tools for improved process control and reduce the need for manual intervention.

In mining processes, the new Filter Optimizer complements Metso Outotec’s other advanced control solutions for concentrator plants consisting of the Grinding Optimizer, Flotation

Optimizer and Thickener Optimizer, the company says.

The Filter Optimizer enables automatic adjustment of filtration as well as pressing and air

drying setpoints based on filter performance. Compressed air usage is optimised in the controlled air-drying sequence, resulting in optimised energy consumption, Metso Outotec

says.

Leena Tanttu, Senior Manager, Process and Testing of Filters at Metso Outotec, said: “The new

Filter Optimizer automatically adjusts the filter’s process performance, adapting to upstream process variations. Instead of relying on manual moisture sampling and cake-weight

monitoring, new setpoints are calculated on the go and adjusted automatically.”

Thanks to the optimiser’s remote connectivity, rapid OEM expert support is available for fine-

tuning of the system parameters and further optimisation of performance, the company says. An integrated historical database increases process visibility and provides a powerful tool for

performance evaluation.

Metso Outotec’s Filter Optimizer typical scope of supply includes:

Moisture analyser;

APC system (server, control room operator interface, VPN router for remote connectivity);

Engineering and project management including control design and set up;

Comissioning including system implementation, start-up and controller fine tuning; and

Operator training.

In addition to filters, Metso Outotec says it provides a full scope of services for filters,

including process optimisation services, optimiser performance reporting, annual on-site maintenance visits, remote and on-site support, and more.

Daily News Update Page 18

Chile copper output costs plunged in first half even as pandemic raged - government

CHILE's copper mining industry, the world's largest, saw a 17% drop in its production costs in the first half of 2020, the mining ministry said on Thursday, even as the coronavirus outbreak was sweeping through the South American country.

Cash costs fell from $1.45 per pound in the first six months of 2019 to $1.21 per pound of copper produced during the same period in 2020, the ministry said in a statement. A strengthening dollar against the peso, as well as falling prices of key ingredients in the processing of copper, including sulfuric acid and diesel, contributed to the drop in costs, a report from Chilean copper agency Cochilco, cited by the ministry, said. The analysis assessed mines that account for 92% of Chile's copper production, and largely overlapped with the height of the country's coronavirus outbreak.

Chile´s sprawling copper deposits remained open through the peak of the outbreak, albeit with reduced staff and beefed up sanitary measures, and they largely maintained output even at the peak of the epidemic.

The world's top copper producing country is home to miners BHP, Anglo-American and Antofagasta and the state-run Codelco. (Reporting by Dave Sherwood. Editing by Jane Merriman)

Barrick raises dividend as profit soars on strong gold prices Reuters

CANADIAN miner Barrick Gold (TSX: ABX) (NYSE: GOLD) posted a near three-fold jump in

quarterly adjusted profit on Thursday and increased its dividend, benefiting from a surge in gold prices fuelled by widespread coronavirus stimulus measures unveiled globally.

Higher prices of precious metals, including gold’s surge to a record high above $2,000 an ounce earlier this year, have offered miners a lifeline after the covid-19 pandemic disrupted supply chains and mining operations.

Barrick said average realized gold prices rose to $1,926 per ounce in the third quarter ended Sept. 30 from $1,476 per ounce a year earlier.

However, gold production, as expected, fell to 1.16 million ounces from 1.3 million ounces as the miner’s Porgera project in Papua New Guinea remained shut during the period.

In a recent development, Papua New Guinea and Barrick agreed in principle over Porgera, with Barrick Niugini Ltd set to remain operator of the project.

Daily News Update Page 19

Barrick declared a dividend of 9 cents per share, a 12.5% increase on the previous quarter’s dividend.

The Toronto-based company’s adjusted profit rose to $726 million, or 41 cents per share, in the third quarter, from $264 million, or 15 cents per share, a year earlier.

Mali

Barrick Gold does not see a big risk of Mali changing its mining conventions, its chief executive said, after Mali’s interim president said the country aimed to review mining contracts signed during previous administrations.

The country is one of Africa’s largest gold producers. Companies operating in the country include Barrick Gold Corp and AngloGold Ashanti and Resolute Mining.

“It’s acceptable that the new government would want to query any transactions that might have been done in the back end of the previous regime,” Chief Executive Mark Bristow told Reuters. “I don’t see it as a sinister situation at all.” (By Arundhati Sarkar; Editing by Subhranshu Sahu)

Kirkland Lake prepares Fosterville for the long haul Salomae Haselgrove

KIRKLAND Lake Gold has increased production at the Fosterville gold mine in Victoria,

thanks to improved ventilation and paste fill in the Harrier and Lower Phoenix zones of the mine.

By filling vertical stopes in the mineralisation veins, Kirkland Lake was able to extract more ore and boost production at the Bendigo site.

The company produced 161,489 ounces of gold during the September quarter, representing an 11 per cent growth compared to the same period in 2019.

This contributed to a total production of 339,584 ounces for the period across its Australian and Canadian operations.

The company also ramped up exploration activities during the third quarter, investing in the future of the Fosterville site.

As of September, Kirkland Lake has mobilised five surface and eight underground drills at Fosterville to continue exploration at the site.

The Swan zone returned higher than expected grades, with an intercept of 976 grams per tonne of gold over 7.4 metres, reconfirming the company’s confidence in the future of the Fosterville site

Kirkland Lake president and chief executive Tony Makuch said a key priority for the quarter was investing in its cornerstone assets, Fosterville and the Detour Lake and Macassa mines in Canada.

Daily News Update Page 20

“We are on track to invest around $130 million in exploration this year (and) have reported very encouraging drill results at all three assets,” Makuch said.

“During quarter three of 2020 we continued to achieve solid operating results and ended the quarter well positioned to achieve our consolidated 2020 guidance.”

Kirkland Lake has produced 476,459 ounces at Fosterville for the year so far, on its way to achieving its guidance of 590,000-610,000 ounces by the end of 2020.

US presidential election: Joe Biden victory hurt Australian coal exports Why a Biden presidency could finally lift Australia from its over-reliance on selling to

China - but could spell DISASTER for the energy sector and force the country to cut fossil fuel emissions

US presidential frontrunner Joe Biden vowed to rejoin Paris Climate Agreement

Labor MP Pat Conroy, who has a coal seat, said this would pressure Australia

President Donald Trump's Paris Agreement withdrawal was activated this week

By Stephen Johnson, Economics Reporter For Daily Mail Australia

A JOE BIDEN victory would see the United States adopt more ambitious climate change

targets - putting pressure on Australia's very lucrative thermal coal exports.

As election counting continued, the Democrat frontrunner declared he would recommit the US to the Paris Agreement on reducing carbon emissions - with an executive order on day one of his presidency in January 2021.

'Today, the Trump Administration officially left the Paris Climate Agreement. And in exactly 77 days, a Biden Administration will rejoin it,' he tweeted on Thursday, Australian time.

Federal Labor MP Pat Conroy, who represents coal workers as the member for Shortland in the New South Wales Hunter region, said a Biden victory would put pressure on Australia's coal exports as the US and the European Union punished nations that weren't as committed to tackling climate change.

'What we're seeing is massive momentum from those countries already - if Biden is elected, that momentum will just increase and the pressure will come on Australia to do the right thing and actually sign up to targets that are consistent with Paris,' he told Daily Mail Australia on Friday.

'Our trading relationships will be impacted if we're seen to be not committing to Paris.

'All our trading relationships, whether it's in coal or barley, or wheat or wine could be impacted if countries like the United States and continents like the European Union or trading blocs decide to apply carbon border tariffs.'

Mr Conroy said China, Japan and South Korea - which committed to more ambitious climate targets under the Paris Agreement - would also be more emboldened to punish Australia.

Daily News Update Page 21

'If Mr Biden is elected president, we will have 60 per cent of the world's emissions covered by countries that have committed to net zero emissions by 2050 if you include the announcements from South Korea, Japan and China,' he said.

'This will show that Australia under this government is very much in the tiny minority of countries that have refused to commit to net zero emissions.'

While Australia signed up to the Paris Agreement in 2015, former Liberal prime ministers Tony Abbott and Malcolm Turnbull refused to commit to zero net emissions by 2050 target, despite major trading partners South Korea and Japan committing to this goal.

China, Australia's biggest trading partner, agreed to a net zero emissions by 2060 despite planning more coal-fired power stations in developing nations that rely on it for economic aid.

Australia is instead committed to a less ambitious 26 to 28 per cent reduction in carbon emissions by 2030.

Donald Trump, the man Mr Biden is hoping to replace as US President, announced in June 2017 his intention to withdraw the United States from the 2015 Paris Agreement on cutting global carbon emissions - reversing an executive order of his Democrat predecessor Barack Obama.

President Trump, a Republican with strong political support among blue collar workers, formally submitted this withdrawal to the United Nations in November 2019, with this order coming into effect this week as American voters cast their ballots.

Thermal coal, used for electricity generation, is one of Australia's biggest exports, with China buying $7billion worth of this commodity in 2019.

Australia's overall thermal coal exports were worth $20billion during 2019-20.

As recently as 2018, thermal coal still accounted for 45 per cent of the world's electricity generation, a federal Department of Industry analysis showed.

Former Labor leader Bill Shorten lost the May 2019 election with a policy of reducing carbon emissions by 45 per cent by 2030.

Mr Conroy suffered a 10 per cent swing against him on primary votes.

In the neighbouring coal-mining Hunter electorate, Labor suffered a 14.2 per cent swing against it on first preference votes, almost costing sitting Opposition frontbencher Joel Fitzgibbon his job and a seat the ALP has held continuously since 1910.

Labor also had a 12.5 per cent swing against it the north Queensland electorate of Dawson and a 14.3 per cent swing against it in the central Queensland seat of Capricornia as Greens activists campaigned against the Adani thermal coal mine.

Should China punish Australia for failing to sufficiently reduce carbon emissions, thermal coal exporters would have to seek more trade with India, which is vowing to reduce its carbon emissions by a less ambitious 35 per cent by 2030.