Daily News Update Page 1

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When Jokowi Highlights Coal: Don't Export Raw Materials Giliran Batu Bara Disorot, Jokowi: Jangan Ekspor Bahan Mentah Antam (ANTM) said that gold production and sales in the third quarter were still on target Antam (ANTM) sebut produksi dan penjualan emas di kuartal III masih sesuai target Will Extend the Contract, Adaro Waiting for PP Derivative of the Minerba Law Mau Perpanjang Kontrak, Adaro Tunggu PP Turunan UU Minerba President Director of PTBA Encourages the Use of Coal for the Mine-Mouth PLTU Dirut PTBA Dorong Pemanfaatan Batu Bara untuk PLTU Mulut Tambang Wabu Block is a new hope for Antam (ANTM) Blok Wabu menjadi harapan baru bagi Antam (ANTM) Freeport Still Saving 2.6 Billion Tons of Mineral Resources Freeport Masih Simpan Sumber Daya Mineral 2,6 Miliar Ton Sumbawa Timur Mining Finds New Potential Onto Copper-Gold Deposits Sumbawa Timur Mining Temukan Potensi Baru Deposit Tembaga-Emas Onto Antam's Gold Sales Grow 143% Penjualan Emas Antam Tumbuh 143% There electric cars trend, world's nickel consumption skyrocketed! Ada Tren Mobil Listrik, Konsumsi Nikel Dunia Meroket! Eight Years No Findings of Giant New Mining Reserves in Indonesia Sewindu, Tak Ada Temuan Cadangan Tambang Baru Raksasa di Indonesia

CNBC Indonesia Kontan Dunia Energi Bisnis Kontan Republika Dunia Energi Neraca CNBC Indonesia Medcom.id

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Freeport-McMoRan posts Q3 profit boosted by gold prices PT Sumbawa Timur Mining announces assay results China, Japan to lead platinum demand rebound over next four years Wyoming coal company to shrink thermal coal operations Anglo American output in Q3 jumps, thanks to Collahuasi Gold production in Quebec hit hard by COVID-19

Mining.com Global Mining Review Mining Weekly Associated Press Mining.com Kitco News

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Daily News Update Page 3

When Jokowi Highlights Coal: Don't Export Raw Materials

Chandra Gian Asmara, CNBC Indonesia

PRESIDENT Joko Widodo (Jokowi) chaired a limited meeting on the topic of discussing the acceleration of increasing coal value added via video conference at the Bogor Presidential Palace, West Java.

In front of the ranks of ministers, Jokowi reminded his staff to shift Indonesia from an exporting country for raw material commodities into finished materials that could increase added value to the economy.

"We all have to shift from exporting countries for raw materials and one of them is coal to become an industrial country capable of processing raw materials into finished goods or semi-finished goods," said Jokowi , Friday (23/10/2020).

Jokowi stressed that this grand strategy must be consistently implemented. The government, he said, would also develop coal derivative industries so that they could have added value.

"For that we must move to the develop-ment of the coal derivative industry starting from the upgrading industry, coal briquette manufacturing, coking, coal liquefaction, coal gasification to liquid coal mixture," said Jokowi.

"I am sure that by developing this coal derivative industry, I am sure that it can increase the added value of commodities many times over, reduce the core raw materials needed by domestic industries such as the steel industry, the petro-chemical industry," he said.

Giliran Batubara Disorot, Jokowi: Jangan Ekspor Bahan Mentah Chandra Gian Asmara, CNBC Indonesia

PRESIDEN Joko Widodo (Jokowi) me-mimpin rapat terbatas dengan topik pem-bahasan percepatan peningkatan nilai tambah batu bara melalui video conference di Istana Kepresidenan Bogor, Jawa Barat.

Di depan jajaran menteri, Jokowi mengingat-kan jajarannya untuk menggeser Indonesia dari negara pengekspor komoditas bahan mentah menjadi bahan jadi yang bisa meningkatkan nilai tambah bagi per-ekonomian.

"Kita semua harus bergeser dari negara pengekspor bahan mentah dan salah satunya adalah batu bara menjadi negara industri yang mampu mengolah bahan mentah menjadi barang jadi atau barang setengah jadi," kata Jokowi, Jumat (23/10/ 2020).

Jokowi menekankan strategi besar tersebut harus secara konsisten dijalankan. Pemerintah, kata dia, juga akan mengem-bangkan industri turunan batu bara agar bisa memiliki nilai tambah.

"Untuk itu kita harus bergerak ke pengem-bangan industri turunan batu bara mulai dari industri peningkatan mutu upgrading, pem-buatan briket batubara, pembuatan kokas, pencairan batubara, gasifikasi batubara sampai dengan campuran batubara cair," kata Jokowi.

"Saya yakin dengan mengembangkan industri turunan batubara ini, saya yakin dapat meningkatkan nilai tambah komoditas berkali-kali lipat, mengurangi core bahan baku yang dibutuhkan industri dalam negeri seperti industri baja, industri petrokimia," katanya.

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Jokowi then asked for a road map to optimize domestic coal as a whole. This road map is necessary so that the acceleration of the development of the domestic coal industry can be carried out immediately.

"I ask that the road map for the optimization of domestic coal be really accelerated by the application of environmentally friendly technology. Determine the strategy, determine the downstream products we want to develop so that it is clear which path we will go to," he said. (hps/hps)

Jokowi lantas meminta peta jalan optimalisasi batu bara dalam negeri secara utuh. Peta jalan ini diperlukan, agar percepatan pengembangan industri batu bara domestik dapat segera dilakukan.

"Saya minta road map optimalisasi batu bara dalam negeri betul-betul dipercepat dengan penerapan teknologi yang ramah lingkungan. Tentukan strategi, tentukan produk hilir yang ingin kita kembangkan sehingga jelas jalan mana yang akan kita tuju," katanya. (hps/hps)

Antam (ANTM) said that gold production and sales in the third

quarter were still on target Reporter: Akhmad Suryahadi | Editor: Tendi

Mahadi

SALES of gold commodities by PT Aneka

Tambang Tbk (ANTM) continue to experience growth. During the July-September 2020 period, this state-owned issuer sold 6,967 kilograms (kg) of gold or the equivalent of 223,994 oz (unaudited). This realization grew 147% compared to gold sales in the second quarter of 2020 which was only 2,818 kg or 90,600 oz.

SVP Corporate Secretary Aneka Tambang Kunto Hendrapawoko said that the realization of gold sales in the third quarter is still inline with ANTM's work plan, which targets gold sales of 18 tons in 2020. As of September 2020, ANTM's gold sales reached 14,882 kg or 478,467 oz, reflecting more of 80% of this year's target.

Kunto sees that with the current high public interest in gold investment, ANTM is optimistic that it can maximize gold production and sales in 2020.

Antam (ANTM) sebut produksi dan penjualan emas di kuartal

III masih sesuai target Reporter: Akhmad Suryahadi | Editor: Tendi

Mahadi

PENJUALAN komoditas emas oleh PT Aneka

Tambang Tbk (ANTM) terus mengalami per-tumbuhan. Sepanjang periode Juli-September 2020, emiten pelat merah ini menjual 6.967 kilogram (kg) emas atau setara 223.994 oz (unaudited). Realisasi ini tumbuh 147% dibandingkan dengan penjualan emas pada triwulan kedua 2020 yang hanya 2.818 kg atau 90.600 oz.

SVP Corporate Secretary Aneka Tambang Kunto Hendrapawoko menyampaikan, realisasi pen-jualan emas di kuartal ketiga ini masih inline dengan rencana kerja ANTM, yang menargetkan penjualan emas sebesar 18 ton di tahun 2020. Hingga September 2020, penjualan emas ANTM mencapai 14.882 kg atau 478.467 oz, men-cerminkan lebih dari 80% dari target tahun ini.

Kunto melihat, dengan tingginya minat masya-rakat terhadap investasi emas saat ini, ANTM optimis dapat memaksimalkan produksi dan penjualan emas di tahun 2020.

Daily News Update Page 5

"Likewise, we hope that next year this positive trend will continue," said Kunto to Kontan.co.id, Thursday (22/10).

One of the efforts of the Kompas100 Index constituents to achieve targets and maintain business sustainability, especially in gold, one of which is by adapting the market by implementing an online precious metal transaction system through www.logammulia.com and online chat applications. In addition, ANTM also operates a limited precious metal boutique by upholding strict health protocols.

From the production side, ANTM recorded unaudited gold production from the Pongkor and Cibaliung mines of 430 kg or 13,825 oz, growing 6% from production in the second quarter of 2020 which was only 404 kg (12,988 oz). Thus, with these achievements, ANTM's unaudited gold production during the first nine months of 2020 reached 1,280 kg (41,153 oz).

Similar to the realization of gold sales, Kunto admitted that Aneka Tambang's production volume achievement in the third quarter was still inline with the target set in 2020, which is in the range of 2 tons from gold mines in Pongkor and Cibaliung.

On the same occasion, ANTM also always maintains the sustainability of the amount of mineral resources and reserves it has by prioritizing operations in accordance with the principles of good mining. Kunto continued, ANTM also carried out exploration in prospect areas as well as in several existing mining business permit (IUP) areas to ensure long -term sustainability of operations.

For the gold commodity itself, currently ANTM is actively conducting exploration activities in the company's IUP areas such as in Pongkor, as well as reviews in several prospect areas such as the Bintang Mountains, Papua and Papandayan in West Java.

“Begitupun kami berharap pada tahun depan tren positif ini akan terus berlanjut,” ujar Kunto kepada Kontan.co.id, Kamis (22/10).

Salah satu upaya konstituen Indeks Kompas100 tersebut untuk mencapai target dan menjaga keberlanjutan bisnis terutama di komoditas emas, salah satunya dengan melakukan adaptasi pasar dengan menerap-kan sistem transaksi logam mulia secara online melalui www.logammulia.com dan aplikasi chat online. Selain, ANTM juga menjalankan operasional butik logam mulia secara terbatas dengan mengedepankan protokol kesehatan yang ketat.

Dari sisi produksi, ANTM mencatatkan produksi unaudited emas dari tambang Pongkor dan Cibaliung sebesar 430 kg atau 13.825 oz, tumbuh 6% dari capaian produksi di kuartal kedua 2020 yang hanya 404 kg (12.988 oz). Dus, dengan capaian tersebut, produksi emas unaudited ANTM sepanjang sembilan bulan pertama 2020 mencapai 1.280 kg (41.153 oz).

Sama halnya dengan realisasi penjualan emas, Kunto mengaku capaian volume produksi Aneka Tambang di kuartal ketiga masih inline dengan target yang dipasang tahun 2020, yakni di kisaran 2 ton yang berasal dari tambang emas di Pongkor dan Cibaliung.

Dalam kesempatan yang sama, ANTM juga senantiasa menjaga kesinambungan jumlah sumber daya dan cadangan mineral yang dimiliki dengan mengedepankan operasi sesuai dengan prinsip-prinsip penambangan yang baik. Kunto melanjutkan, ANTM juga melaksanakan eksplorasi di wilayah prospek serta di beberapa daerah izin usaha pertam-bangan (IUP) eksisting guna memastikan kesinambungan operasi jangka panjang.

Untuk komoditas emas sendiri, saat ini ANTM aktif melakukan kegiatan eksplorasi di wilayah IUP perusahaan seperti di Pongkor, serta tinjauan di beberapa daerah prospek seperti di wilayah Pegunungan Bintang, Papua dan Papandayan di Jawa Barat.

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Finally, Kunto emphasized that ANTM welcomes the mandate of the Ministry of SOE to manage the former productive gold mine owned by PT Freeport Indonesia (PTFI). This opportunity is a good prospect for ANTM as part of the state-owned mining industry holding (MIND ID) to strengthen its portfolio of gold commo-dities.

Especially with the current composition of MIND ID members, it has the potential to open opportunities for synergy in the management of national mining assets to support the development of an integrated downstream mineral business.

Terakhir, Kunto menegaskan ANTM menyambut baik mandat dari Kementerian BUMN untuk mengelola lahan eks tambang emas produktif milik PT Freeport Indonesia (PTFI). Kesempatan ini menjadi prospek yang baik bagi ANTM sebagai bagian dari holding industri pertambangan milik Negara (MIND ID) untuk memperkuat portofolio komoditas emas.

Terlebih dengan komposisi anggota MIND ID saat ini , berpotensi membuka kesempatan sinergi pengelolaan aset pertambangan nasional untuk mendukung pengembangan hilirisasi bisnis mineral yang terintegrasi.

Will Extend the Contract, Adaro

Waiting for PP Derivative of the Minerba Law

Rio Indrawan

PT ADARO Energy Tbk will not apply for a

contract extension and change it to a Special Mining Business License (IUPK) until the regulations derived from Law Number 3 of 2020 concerning Mineral and Coal Mining (Minerba) are issued by the government.

"We still have time until 2022. We are still waiting for the PP (Government Regulation). After PP, there may be a Permen (Ministerial Regulation)," said Garibaldi Thohir, President Director of Adaro Energy, some time ago.

According to the man who will be called Boy, the derivative regulation is expected to be an affirmation of the government in providing legal certainty for business activities. Especially after the Omnibus Law Minerba Law which touched...

Mau Perpanjang Kontrak,

Adaro Tunggu PP Turunan UU Minerba

Rio Indrawan

PT ADARO Energy Tbk tidak akan meng-ajukan perpanjangan kontrak dan me-rubahnya menjadi Izin Usaha Pertam-bangan Khusus (IUPK) hingga aturan turunan dari Undang-Undang Nomor 3 Tahun 2020 tentang Pertambangan Mineral dan Batu Bara (Minerba) diterbit-kan pemerintah.

“Kami masih ada waktu hingga 2022. Kami masih menunggu PP (Peraturan Peme-rintah). Setelah PP mungkin ada Permen (Peraturan Menteri) ,” ujar Garibaldi Thohir, Presiden Direktur Adaro Energy, beberapa waktu lalu.

Menurut pria yang akran disapa Boy itu, aturan turunan nanti diharapkan sebagai penegasan pemerintah dalam memberikan kepastian hukum bagi kegiatan usaha. Apalagi setelah UU Minerba Omnibus Law yang menyinggung...

Daily News Update Page 7

Especially after the Omnibus Law Minerba

Law which touched on the Minerba sector

also provided certainty, especially in the

future downstream plans.

"Once again, in general, legal certainty in

Indonesia is very positive. And in my

opinion, this could be a positive thing if in

the future we want to invite more

investors in the mining sector,” said Boy.

Adaro is one of seven first-generation coal companies that have entered into an out of

contract. The contract of PT Adaro Indonesia, a subsidiary of Adaro Energy

with a concession area of 31,380 ha will expire on October 1, 2022. In accordance

with the new Minerba Law, a contract extension can be submitted no later than

one year before the contract period ends.

So far, only three companies have applied

for license extensions. The company that first submitted an extension and changed

its contract from a Coal Mining Exploitation Work Agreement (PKP2B) to a

Special Mining Business License (IUPK) was Arutmin Indonesia. The other two

companies are PT Kaltim Prima Coal (KPC) and PT Multi Harapan Utama (MHU).

KPC's contract will expire on December 31, 2021. KPC controls a concession area of

84,938 hectares (ha). Meanwhile, Multi Harapan Utama controls a 39,972 ha land

use concession, the contract will expire on April 1, 2022.

Currently there are three Government

Regulations (PP) that are being drafted by the government as a derivative of the

Minerba Law No.3 of 2020, consisting of PP on Mining Areas, PP on Mining Business

Activities, and PP on Guidance and Supervision as well as Reclamation and

Post-Mining.

Apalagi setelah UU Minerba Omnibus Law yang menyinggung sektor Minerba juga turut memberikan kepastian, khususnya dalam rencana hilirisasi ke depan.

“Sekali lagi, secara garis besar kepastian hukum di Indonesia itu sangat positif. Dan ini menurut saya bisa menjadi satu hal yang positif kalau kedepan mau meng-undang lagi investor di bidang Minerba,” kata Boy.

Adaro merupakan satu dari tujuh per-usahaan batu bara generasi pertama yang habis memasuki habis kontrak. Kontrak PT Adaro Indonesia, anak usaha Adaro Energy dengan luas lahan konsesi 31.380 ha akan berakhir pada 1 Oktober 2022. Sesuai dengan UU Minerba yang baru maka per-panjangan kontrak paling lambat bisa diajukan satu tahun sebelum masa kontrak berakhir.

Sejauh ini baru tiga perusahaan yang mengajukan perpanjangan izin. Perusaha-an yang pertama kali mengajukan per-panjangan dan berubah kontraknya dari Perjanjian Karya Pengusahaan Pertam-bangan Batu bara (PKP2B) menjadi Izin Usaha Pertambangan Khusus (IUPK) adalah Arutmin Indonesia. Dua perusahaan lainnya PT PT Kaltim Prima Coal (KPC) dan PT Multi Harapan Utama (MHU).

Kontrak KPC sendiri akan berakhir pada 31 Desember 2021. KPC menguasai konsesi lahan seluas 84.938 hektar (ha). Sementara Multi Harapan Utama mengu-asai konsesi penggunaan lahan seluas 39.972 ha kontraknya akan habis pada 1 April 2022.

Saat ini ada tiga Peraturan Pemerintah (PP) yang sedang disusun oleh pemerintah sebagai turunan dari UU Minerba No 3 tahun 2020, terdiri dari PP tentang Wilayah Pertambangan, PP tentang Kegiatan Usaha Pertambangan, serta PP tentang Pembinaan dan Pengawasan serta Reklamasi dan Pascatambang.

Daily News Update Page 8

Irwandy Arief, Special Staff of the Minister of EMR for the Acceleration of Mineral and Coal Governance, emphasized that the three PPs currently being discussed by the government are targeted to be completed by December 2020. "Arranged in three PPs, the government's target is to be completed in December, at the latest in six months," said Irwandy. (RI)

Irwandy Arief, Staf Khusus Menteri ESDM Bidang Percepatan Tata Kelola Minerba,

menegaskan tiga PP yang sedang dibahas pemerintah ditargetkan selesai paling

lambat Desember 2020. “Disusun dalam tiga PP, target pemerintah akan selesai

bulan Desember, paling lambat enam bulan,” kata Irwandy. (RI)

President Director of PTBA Encourages the Use of Coal for

the Mine-Mouth PLTU Denis Riantiza Meilanova

PRESIDENT Director of PT Bukit Asam

Tbk. Arviyan Arifin considered that the use of coal as primary energy would better be focused for mine mouth steam power plants (PLTU).

He said that it is undeniable that coal will still be the mainstay of electrical energy in the next 20-30 years in line with Indonesia's high demand for electricity in the future.

Therefore, according to him, the use of coal is better for the development of a mine-mouth PLTU because the development of a mine-mouth PLTU is considered to result in a much cheaper price of electricity compared to PLTU in general.

"The use of coal will be better, if the PLTU is built at the mouth of the mine because the cost is cheaper. There are no trans-portation costs, no coal transportation costs. There is no need to pay for boat rental," Arviyan said in a webinar on Pelabuhan Energi Indonesia, Wednesday (21/10/2020).

Dirut PTBA Dorong Pemanfaatan Batu Bara untuk PLTU Mulut

Tambang Denis Riantiza Meilanova

DIREKTUR Utama PT Bukit Asam Tbk. Arviyan Arifin menilai bahwa pemanfaatan batu bara sebagai energi primer lebih baik difokuskan untuk pembangkit listrik tenaga uap (PLTU) mulut tambang.

Dia mengatakan bahwa tak bisa dipungkiri batu bara masih akan menjadi andalan sumber energi listrik dalam 20 tahun-30 tahun ke depan seiring dengan masih tingginya kebutuhan listrik Indonesia ke depan.

Oleh karena itu, menurutnya, pemanfaatan batu bara lebih baik ditujukan untuk pengembangan PLTU mulut tambang sebab pengembangan PLTU mulut tambang dinilai akan menghasilkan harga listrik yang jauh lebih murah dibandingkan dengan PLTU pada umumnya.

"Pemanfaatan batu bara akan lebih baik, kalau PLTU dibangun di mulut tambang karena cost-nya lebih murah. Tidak ada biaya transport, biaya angkut batu bara. Tidak perlu bayar sewa kapal," ujar Arviyan dalam webinar Potret Energi Indonesia, Rabu (21/10/2020).

Daily News Update Page 9

In addition, Arviyan believes that the development of a mine-mouth PLTU will be able to minimize air pollution.

"There are no mines in urban areas, they exist in the regions. If it is built in a mining location, because in the forest, the pollution level will certainly be absorbed by the existing forests," he said.

He said that PTBA has also started to develop a mine-mouth PLTU with a capacity of 2 x 600 megawatts (MW). The company has the potential to build a PLTU at its mine site up to 5,000 MW.

"We have started to build a 2 x 600 MW mine-mouth PLTU with supercritical technology at the cheapest tariff in Indonesia because the coal itself has been packaged for 30 years," he said. Editor:

Zufrizal

Selain itu, Arviyan yakin bahwa pengem-bangan PLTU mulut tambang akan mampu meminimalisasi polusi udara.

"Tambang itu tidak ada yang di perkotaan, adanya di daerah. Bila dibangun di lokasi tambang karena di hutan pasti tingkat polusi akan terserap hutan yang ada," katanya.

Dia menuturkan bahwa PTBA juga telah memulai mengembangkan PLTU mulut tambang dengan kapasitas 2 x 600 mega-watt (MW). Perseroan memiliki potensi membangun PLTU di lokasi tambangnya hingga 5.000 MW.

"Kami sudah mulai bangun PLTU mulut tambang 2 x 600 MW dengan teknologi supercritical dengan tarif paling murah se-Indonesia karena batu baranya sendiri sudah di-pack selama 30 tahun," katanya. Editor : Zufrizal

Wabu Block is a new hope for Antam (ANTM)

Reporter: Ridwan Nanda Mulyana | Editor: Handoyo

PT ANEKA Tambang Tbk (ANTM) is

preparing to manage the Wabu Block gold mine, which is the result of shrinking the PT Freeport Indonesia (PTFI) area. Wabu Block management will boost ANTM's gold portfolio, especially from the upstream production side.

General Manager of the Geomin & Technology Development Unit of ANTM, Tri Hartono, said that currently his party is still holding discussions with MIND ID as the state-owned mining holding to compile a detailed plan in managing the Wabu Block. He said that...

Blok Wabu menjadi harapan baru bagi Antam (ANTM)

Reporter: Ridwan Nanda Mulyana | Editor: Handoyo

PT ANEKA Tambang Tbk (ANTM) bersiap

untuk mengelola tambang emas Blok Wabu, yang merupakan hasil penciutan wilayah PT Freeport Indonesia (PTFI). Pengelolaan Blok Wabu bakal men-dongkrak portofolio emas ANTM, khusus-nya dari sisi produksi di hulu.

General Manager Unit Geomin & Technology Development ANTM Tri Hartono menyam-paikan, saat ini pihaknya masih melakukan diskusi bersama MIND ID selaku holding pertambangan BUMN untuk menyusun rencana detail dalam pengelolaan Blok Wabu. Kata dia,...

Daily News Update Page 10

He said that the assignment to manage the Wabu Block is ANTM's new hope, which currently only relies on gold production from Pongkor and Cibaliung.

"We often discuss internally (with MIND ID). Currently, Antam lives in Pongkor and Cibaliung. Yes, of course it will be new to Antam, if later assigned to manage Wabu," Tri said in a media workshop held by MIND ID online, Thursday (22/10).

Tri believes that ANTM can manage and produce gold in the Wabu Block. Apart from ANTM's experience in gold exploration and production, currently ANTM is also assisted by a mining holding company. "I think we are ready, because we have experience. Now also with MIND ID, of course we will discuss how to develop Wabu," Tri continued.

On the same occasion, Senior Vice President for Exploration Division of MIND ID Wahyu Sunyoto confirmed that the Wabu Block had very promising gold resources. Wahyu is sure, because he was part of Wabu's initial exploration team in 1999.

At some points, the gold content is so high that it reaches 72 grams per tonne. However, on average, the gold content is 2.17 grams per tonne. In total the Wabu Block has 8.1 million troy once (toz) of resources. "This is proven that there is (gold content) very high. And this has a very large potential up size," said Wahyu.

According to Wahyu, a number of surveys have been conducted since 1999, and there has even been a demographic data collection in each location. Thus, the gold mine which is located in Intan Jaya Papua Regency is ready for the construction process and the next mining stage.

However, neither Tri nor Wahyu has provided a leak about the work plan for Wabu Block management.

Kata dia, penugasan untuk mengelola Blok Wabu menjadi harapan baru ANTM yang saat ini hanya mengandalkan produksi emas dari Pongkor dan Cibaliung.

"Kita internal sering diskusi (dengan MIND ID) saat ini Antam untuk emas tinggal di Pongkor dan Cibaliung. Ya tentunya menjadi baru Antam, apabila nanti ditugaskan untuk mengelola Wabu," kata Tri dalam workshop media yang digelar MIND ID secara daring, Kamis (22/10).

Tri yakin ANTM bisa mengelola dan mem-produksi emas di Blok Wabu. Selain karena pengalaman ANTM dalam eksplorasi dan produksi emas, saat ini ANTM juga dibantu oleh holding pertambangan. "Saya kira kami siap, karena punya pengalaman. Sekarang juga dengan MIND ID, tentunya kita diskusi, bagai-mana men-develop Wabu," sambung Tri.

Dalam kesempatan yang sama, Senior Vice President for Exploration Division MIND ID Wahyu Sunyoto memastikan bahwa Blok Wabu memiliki sumber daya emas yang sangat menjanjikan. Wahyu yakin, lantaran dirinya menjadi bagian dari tim eksplorasi awal Wabu pada tahun 1999 lalu.

Di beberapa titik, kandungan emasnya sangat tinggi hingga ada yang mencapai 72 gram per ton. Namun secara rata-rata, kadar emasnya sebesar 2,17 gram per ton. Secara total Blok Wabu memiliki sumber daya sebanyak 8,1 juta troy once (toz). "Ini terbukti memang ada (kandungan emas) sangat tinggi. Dan ini mem-punyai up size potensial sangat besar," sebut Wahyu.

Menurut Wahyu, sejumlah survei sudah dilakukan sejak 1999, bahkan sudah ada pendataan demograsi di setiap lokasi. Sehingga, tambang emas yang berlokasi di Kabupaten Intan Jaya Papua ini sudah siap untuk proses konstruksi dan tahap penam-bangan selanjutnya.

Namun, baik Tri maupun Wahyu belum memberikan bocoran bagaimana rencana kerja dalam pengelolaan Blok Wabu.

Daily News Update Page 11

"Currently, the government has assigned Antam to manage Wabu, so we are just waiting for the next process," said Wahyu.

In the previous Kontan.co.id report, MIND ID's Managing Director Oria Petrus Moedak told the process of appointing ANTM in the management of the Wabu Block. Orias conveyed that after receiving the results of the shrinkage of the PTFI area which were then returned to the central government, the Papua Regional Government wanted the Wabu Block management through cooperation with SOE.

Then, the Governor of Papua has also sent a letter to the Ministry of SOE and MIND ID to apply for cooperation in working on the gold mine.

"The structure of our regulation is like that, the local government hands over the areas that are included as mining areas to the central government for a determination. The local government has also proposed to cooperate with MIND ID," said Orias when he was met at the DPR RI Building, Tuesday (29/9).

Considering that the Wabu Block mining commodity is gold, SOE Minister Erick Thohir has assigned Antam to work on it. "According to the direction from the SOE Minister, it will be handed over to Antam because Antam has always been an expert in handling gold," continued Orias.

He has not yet revealed the scheme and portion of the cooperation between the Papua and Antam governments. He said, the details of the cooperation were still being discussed with the Papua Regional Government. As an illustration, the scheme to be used is similar to a joint venture through the Papua Regional Owned Enterprises (ROE) in the distribution of shares in PTFI.

"Saat ini pemerintah memberi tugas kepada Antam untuk mengelola Wabu, maka kita tunggu saja proses selanjutnya," kata Wahyu.

Dalam pemberitaan Kontan.co.id sebelum-nya, Direktur Utama MIND ID Oria Petrus Moedak menceritakan proses penunjukkan ANTM dalam pengelolaan Blok Wabu. Orias menyampaikan, setelah menerima hasil penciutan wilayah PTFI yang kemu-dian dikembalikan kepada pemerintah pusat, Pemda Papua menginginkan penge-lolaan Blok Wabu melalui kerjasama dengan BUMN.

Kemudian, Gubernur Papua juga telah mengirimkan surat kepada Kementerian BUMN dan MIND ID untuk mengajukan kerjasama dalam menggarap tambang emas tersebut.

"Struktur aturan kita begitu , Pemda menyerahkan wilayah yang masuk sebagai wilayah tambang kepada pemerintah pusat untuk dilakukan penetapan. Pemda juga sudah mengusulkan untuk kerjasama dengan MIND ID," kata Orias saat ditemui di Gedung DPR RI, Selasa (29/9).

Mempertimbangkan komoditas tambang Blok Wabu yang merupakan emas, Menteri BUMN Erick Thohir menugaskan Antam untuk menggarapnya. "Sesuai arahan dari Pak Menteri BUMN, itu akan diserahkan kepada Antam karena memang Antam ahlinya kan dari dulu yang mengurus emas," sambung Orias.

Dia memang belum membeberkan bagai-mana skema dan porsi kerjasama antara Pemda Papua dan Antam. Katanya, detail kerjasama masih dibahas bersama Pemda Papua. Sebagai gambaran, skema yang akan dipakai serupa dengan joint venture melalui Badan Usaha Milik Daerah (BUMD) Papua dalam pembagian porsi saham di PTFI.

Daily News Update Page 12

"The technicalities (cooperation) will be

discussed with the Governor. Yes, we have

collaborated with the Papua Regional

Government in ownership of Freeport

shares," explained Orias.

Referring to Kontan.co .id's records,

currently ANTM manages gold commo-

dities from upstream to downstream, from

exploration to mining activities, as well as

gold management in precious metal

processing and refining plants. Meanwhile,

ANTM gold mining is currently in the

Pongkor and Cibaliung areas. Currently,

the production capacity of Antam's gold

mine is around 2 tons per ton.

Specifically for gold commodities, ANTM

conducted exploration in the Pongkor IUP

area, as well as reviews in several prospect

areas such as the Bintang Mountains,

Papua and Papandayan areas in West Java.

In the 2019 Annual Report, ANTM initiated

exploration activities in the exploration

IUP area, including the Atlantis IUP in the

Bintang Mountains Regency, Papua as an

effort to increase gold resources.

ANTM is also reviewing options to acquire

gold mining assets that have a good profile

and potential. Throughout 2019, ANTM's

total consolidated gold ore reserves were

recorded at 3.44 million dry metric tons

(dmt) or equivalent to 269.4 thousand troi

ounces (8.38 tons) of gold metal.

Meanwhile, ANTAM's consolidated gold

mineral resources in 2019 were recorded

at 9.19 million dmt or equivalent to 1,205

thousand troi ounces (37.48 tons) of gold

metal.

"Teknis (kerjasama) nanti kita bahas

dengan Pak Gubernur. Ya kan kami sudah

kerjasama dengan Pemda Papua dalam

kepemilikan saham Freeport," jelas Orias.

Merujuk catatan Kontan.co.id, saat ini

ANTM mengelola komoditas emas dari

hulu ke hilir mulai dari aktivitas eksplorasi

hingga penambangan, serta pengelolaan

emas di pabrik pengolahan dan pemurnian

logam mulia. Adapun, penambangan

tambang emas ANTM saat ini ada di

wilayah Pongkor dan Cibaliung. Saat ini

kapasitas produksi dari tambang emas

Antam ada dikisaran 2 ton per ton.

Khusus komoditas emas, ANTM melakukan

eksplorasi di wilayah IUP Pongkor, serta

tinjauan di beberapa daerah prospek

seperti di wilayah Pegunungan Bintang,

Papua dan Papandayan di Jawa Barat.

Dalam Laporan Tahunan tahun 2019,

ANTM melakukan inisiasi aktivitas ekplo-

rasi pada area IUP eksplorasi, di antaranya

IUP Atlantis di daerah Kabupaten

Pegunungan Bintang, Papua sebagai upaya

untuk meningkatkan sumber daya emas.

ANTM juga tengah mengkaji opsi untuk

melakukan akuisisi aset tambang emas

yang memiliki profil dan potensi yang baik.

Sepanjang tahun 2019, total cadangan bijih

emas konsolidasian ANTM tercatat sebesar

3,44 juta dry metric ton (dmt) atau setara

dengan 269,4 ribu troi ons (8,38 ton)

logam emas.

Sedangkan sumber daya mineral emas

konsolidasian ANTAM pada tahun 2019

tercatat sebesar 9,19 juta dmt atau setara

dengan 1.205 ribu troi ons (37,48 ton)

logam emas.

Daily News Update Page 13

Freeport Still Saving 2.6 Billion Tons of Mineral Resources

Reporter: Intan Pratiwi/Editor: Nidia Zuraya

PT FREEPORT Indonesia currently has

1.8 billion tons of proven and ready to produce reserves. In fact, there are still 2.6 billion tons of resources in the contract concession area. However, these resources have not been converted to reserves.

Senior Vice President for Exploration Division of MIND ID, Wahyu Sunyoto, explained that the proven reserves of 1.8 billion tons were the result of exploration that was first carried out by PTFI in 1989. However, the proven reserves are only sufficient to meet production until 2040, meaning that when the contract period ends.

"Resources that are indiceted and measured are still around 2.6 billion tonnes," Wahyu said in a virtual MIND ID discussion, Thursday (22/10).

It's just that, actually there are still 2.6 billion tonnes of potential resources. He said that if these resources were converted into reserves, it would reach 50 percent or around 1.3 billion tons and if produced could produce 150 thousand tons of mineral ore or ore per day.

He sees this as a great potential for the nation to come. He said there needed to be strategic steps taken by the Mining SOEs to prepare them to manage these resources after the Freeport contract ended.

"So we have far ahead. Beyond 2041. If we don't plan it now, then the 2.6 billion tonnes might be extracted very small, maybe a third," said Wahyu.

Freeport Masih Simpan Sumber Daya Mineral 2,6 Miliar Ton Reporter: Intan Pratiwi/Redaksi: Nidia

Zuraya

PT FREEPORT Indonesia saat ini tercatat

mempunyai cadangan terbukti dan siap diproduksi sebesar 1,8 miliar ton. Padahal, sumberdaya di wilayah konsensi kontrak masih ada 2,6 miliar ton lagi. Namun, sumber-daya ini belum dikonversi ke cadangan.

Senior Vice President for Exploration Division MIND ID Wahyu Sunyoto menjelaskan cadangan terbukti 1,8 miliar ton tersebut merupakan hasil eksplorasi yang lebih dulu dilakukan oleg PTFI pada 1989 dahulu. Namun, cadangan terbukti tersebut hanya cukup memenuhi produksi hingga 2040 saja, artinya saat masa kontrak berakhir.

"Sumber daya yang masuk kategori indiceted dan measured masih sekitar 2,6 miliar ton," kata Wahyu dalam diskusi virtual MIND ID, Kamis (22/10).

Hanya saja, sebenarnya untuk potensi sumberdaya masih ada 2,6 miliar ton lagi. Ia mengatakan sumber daya tersebut apabila dikonversi menjadi cadangan akan mencapai 50 persennya atau sekitar 1,3 miliar ton dan bila diproduksi bisa menghasilkan ore atau bijih mineral sebesar 150 ribu ton per hari.

Ia melihat hal ini merupakan potensi besar bagi bangsa nanti. Ia mengatakan perlu ada langkah startegis yang dilakukan BUMN Tambang untuk mempersiapkan untuk mengelola sumberdaya tersebut pasca kontrak Freeport berakhir.

"Sehingga kita harus jauh jauh hari ke-depannya. Beyond 2041. Kalau tidak di-rencanakan sekarang, maka yang 2,6 miliar ton itu mungkin yang bisa diekstrak kecil sekali, mungkin sepertiga aja," ujar Wahyu.

Daily News Update Page 14

He also considered that this opportunity was indeed the duty of SOE. Moreover, in the future SOEs will have enough privileges to be able to manage these resources. He hopes that the benefits and added value for the community can be greater.

"It is our duty at MIND ID, that Law 3/2020 supports the existence of SOE, the certainty of obtaining a lifemine mining permit. So, we are planning for mine planning without any limitations. So such a large resource can be optimized for planning," Wahyu said.

Ia pun menilai memang kesempatan ini merupakan tugas BUMN. Apalagi kedepan BUMN cukup dapat previlage untuk bisa mengelola sumberdaya tersebut. Ia berharap manfaat dan nilai tambah buat masyarkat bisa lebih besar.

"Ini merupakan tugas kami di MIND ID, bahwa UU 3/2020 itu mensupport keberadaan BUMN kepastian untuk mendapatkan izin penabangan lifemine itu bisa diperoleh. Jadi, kami meren-canakan untuk perencanaan tambang tanpa adanya batasan. Jadi sumberdaya yang sebesar itu bisa dioptimalkan untuk perencanaan," ujar

Wahyu.

Sumbawa Timur Mining Finds New Potential Onto Copper-Gold

Deposits Yurika

PT SUMBAWA Timur Mining (STM)

released assay results from hole VHD096, a vertical borehole 2,042.72 m deep, into the potential of Onto mineral resources. The assay results confirm that the potential mineral resource of Onto is continuing to be more than 500 meters below the previously known mineralization depth.

With the results of the assay that has successfully passed a complete series of quality tests, STM enthusiastically reported an intercept of 1,594.7m with a content of @ 1.00% Copper and 0.40g/t Gold. It includes an excellent 100m long intercept grading @ 5.99% Copper and 1.11 g/t Gold.

On February 19, 2020, Sumbawa Timur Mining announced the discovery of the potential of Onto's copper-gold mineral resource, which has the potential to position the company as one of the leading copper producers in Indonesia.

Sumbawa Timur Mining Temukan Potensi Baru Deposit

Tembaga-Emas Onto Yurika

PT SUMBAWA Timur Mining (STM) merilis

hasil pengujian kadar logam (assay) dari lubang VHD096, lubang bor vertikal sedalam 2.042,72 m, ke dalam potensi sumber daya mineral Onto. Hasil assay mengkonfirmasi bahwa potensi sumber daya mineral Onto masih mengalami kemenerusan lebih dari 500 meter di bawah kedalaman mineral isasi yang diketahui sebelumnya.

Dengan hasil assay yang telah berhasil melewati rangkaian pengujian kualitas yang lengkap, STM dengan antusias melaporkan intercept 1.594,7m dengan kadar @ 1.00% Tembaga dan 0.40g/t Emas. Termasuk didalamnya intercept yang luar biasa sepanjang 100m dengan kadar @ 5,99% Tembaga dan 1,11 g/t Emas.

Pada 19 Februari 2020, Sumbawa Timur Mining telah mengumumkan temuan potensi sumber daya mineral tembaga-emas Onto, yang berpotensi menempatkan perusahaan sebagai salah satu produsen tembaga ter-kemuka di Indonesia.

Daily News Update Page 15

Sumbawa Timur Mining is the owner of the 7th generation Hu'u Project Contract of

Work (KK), which is located in Hu'u District , Dompu Regency, West Nusa

Tenggara Province. STM is a joint venture between Eastern Star Resources Pty. Ltd.

(80%), a subsidiary 100% owned by Vale SA, and PT Antam Tbk (20%).

Bede Evans, President Director of STM,

said that the VHD096 drill hole is quite difficult but can be achieved through the

hard work of the STM team and contractors in the field.

"In the future, we will focus on assessing the opportunities that exist from this latest

result," said Bede, Thursday (22/10).

The company has also received assay

results from hole VHD091 (borehole 1,420.2 m deep towards the Southwest

part of the potential Onto mineral resource from the same drilling location). Hole

VHD091 has an intercept of 1,010.2 m with a grade of @ 1.11% Copper and 0.84 g/t

Gold. This includes an intercept of 318.0 m with a grade of @ 1.81% Copper and 1.32

g/t Gold.

Bronto Sutopo, Vice President Director of STM, said that the results of the VHD096

and VHD091 holes provide many opportunities for STM.

"We believe these results will provide a solid basis for the continued development

of the Hu'u Project," said Bronto.

Onto's mineral resource potential and the

Hu'u Project won awards as Best Exploration Expenditure, Best Discovery

and Best in Class at the IAGI Awards 2020.

Operational activities at the Hu'u site have restarted after a temporary slowdown

occurred due to the Covid-19 pandemic.

Sumbawa Timur Mining adalah pemilik Kontrak Karya (KK) Proyek Hu’u generasi ke-7, yang berlokasi di Kecamatan Hu’u, Kabupaten Dompu, Provinsi Nusa Tenggara Barat. STM merupakan perusahaan patungan antara Eastern Star Resources Pty. Ltd. (80%), anak perusahaan yang 100% saham-nya dimiliki oleh Vale SA, dan PT Antam Tbk (20%).

Bede Evans, Presiden Direktur STM, meng-ungkapkan lubang bor VHD096 tergolong cukup sulit namun mampu dicapai melalui kerja keras dari tim STM dan kontraktor di lapangan.

“Kedepan, kami akan fokus untuk menilai peluang yang ada dari hasil terbaru ini,” ujar Bede, Kamis (22/10).

Perusahaan juga telah menerima hasil pengujian kadar logam (assay) dari lubang VHD091 (lubang bor sedalam 1.420,2 m ke arah bagian Barat Daya dari potensi sumber daya mineral Onto dari lokasi pemboran yang sama). Lubang VHD091 memiliki intercept 1.010,2 m dengan kadar @ 1,11% Tembaga dan 0,84 g/t Emas. Termasuk didalamnya intercept sepanjang 318,0 m dengan kadar @ 1,81% Tembaga dan 1,32 g/t Emas.

Bronto Sutopo, Wakil Presiden Direktur STM, mengatakan hasil dari lubang VHD096 dan VHD091 memberikan banyak peluang bagi STM.

“Kami yakin hasil ini akan memberikan dasar yang kokoh untuk kelanjutan pengembangan Proyek Hu’u,” kata Bronto.

Potensi sumber daya mineral Onto dan Proyek Hu’u berhasil meraih penghargaan sebagai Best Exploration Expenditure, Best Discovery dan Best in Class yang dalam acara IAGI Awards 2020.

Kegiatan operasional di site Hu’u telah dimulai kembali setelah sebelumnya terjadi perlambatan sementara akibat pandemi Covid-19.

Daily News Update Page 16

"With coordination and close working relationships with the Dompu Regency government, we have now restarted the mobilization of our staff and contractors to the Project site in Hu'u," said Bede. (RA)

“Dengan koordinasi dan hubungan kerja yang erat dengan pemerintah Kabupaten Dompu, saat ini kami telah memulai lagi mobilisasi staf dan kontraktor kami ke lokasi Proyek di Hu’u,” tandas Bede. (RA)

Antam's Gold Sales Grow 143% By: Ahmad Nabhani

IN THE third quarter of 2020, PT Aneka

Tambang Tbk (ANTM) recorded an increase in audited gold sales reaching 6,967 kg or 223,994 t oz. This value increased 143% from the achievement in the second quarter of 2020 of 2,818 kg or 90,600 t oz. Meanwhile, accumulatively, the company's gold sales from January to September 2020 reached 14,882 kg or 478,467 t oz.

Antam's Corporate Secretary, Kunto Hendrapawoko, in his press release in Jakarta, said yesterday, from the production side, the company recorded production volume per quarter III-2020 of 430 kg or 13,825 t oz, growing 6% from the second quarter of 2020 of 404 kg or 12,988. t oz. With this achievement, Antam's gold production until September 2020 reached 1,280 kg or 41,153 t oz.

"Antam's gold segment performance growth is supported by increased public awareness of investing in gold amid the rising trend of gold prices and fluctuations in foreign currency exchange rates," he said.

In order to maintain service quality in the midst of new normal conditions due to the Covid-19 pandemic, Kunto said, the company made a sales innovation by prioritizing online gold sales and buyback transactions.

Penjualan Emas Antam Tumbuh

143% Oleh: Ahmad Nabhani

DI kuartal tiga 2020, PT Aneka Tambang

Tbk (ANTM) membukukan peningkatan pen-jualan emas yang diaudit mencapai 6.967 kg atau 223.994 t oz. Nilai ini meningkat 143% dari pencapaian pada kuartal dua 2020 sebanyak 2.818 kg atau 90.600 t oz. Sedangkan secara akumulatif, penjualan emas perseroan Januari-September 2020 mencapai 14.882 kg atau 478.467 t oz.

Sekretaris Perusahaan Antam, Kunto Hendrapawoko dalam siaran persnya di Jakarta, kemarin mengatakan, dari sisi produksi, perseroan mencatat volume produksi per kuartal III-2020 sebanyak 430 kg atau 13.825 t oz, bertumbuh 6% dari periode kuartal II-2020 sebanyak 404 kg atau 12.988 t oz. Dengan capaian tersebut, produksi emas Antam hingga September 2020 mencapai 1.280 kg atau 41.153 t oz.

"Pertumbuhan kinerja segmen emas Antam

didukung peningkatan kesadaran masya-rakat dalam berinvestasi emas di tengah

tren kenaikan harga emas dan fluktuasi nilai tukar mata uang asing," ujarnya.

Guna menjaga kualitas layanan di tengah kondisi new normal akibat pandemi Covid-

19, Kunto mengatakan, perseroan melaku-kan inovasi penjualan dengan mengedepan-

kan transaksi penjualan dan buyback emas secara online.

Daily News Update Page 17

However, the company continues to serve offl ine sales transactions while stil l implementing strict health protocols. Currently, Antam has precious metal sales services in the form of Precious Metal Gold Boutiques in 11 cities and sales canvassing sales in several locations.

Namun demikian, perseroan tetap melayani transaksi penjualan secara offline dengan tetap menerapkan protokol kesehatan yang ketat. Saat ini, Antam memiliki layanan pen-jualan logam mulia berupa Butik Emas Logam Mulia yang tersebar di 11 kota dan penjualan sales canvassing di beberapa lokasi.

There electric cars trend, world's nickel consumption skyrocketed!

Wilda Asmarini, CNBC Indonesia

NOW the world is moving towards an

energy transition, one of which is developing electric vehicles as a switch from oil-fueled vehicles.

Several world-class companies have produced electric cars such as Tesla, Hyundai, Wuling, and others. Therefore, the existence of a battery factory to store electric car energy is of course very important to be developed.

Likewise with Indonesia, which recently has been aggressively approaching a number of world-class companies to invest in building a battery factory to electric cars in Indonesia.

The trend condition for the development of battery and electric car factories will certainly have an impact on increasing nickel consumption for raw materials for batteries and electric vehicles.

According to Wood Mackenzie's data, the growth of electric vehicles is expected to increase nickel demand to 550 thousand tons per year by 2030, an increase compared to nickel consumption for electric vehicles and batteries below 200 thousand tons in 2019.

Ada Tren Mobil Listrik, Konsumsi Nikel Dunia Meroket!

Wilda Asmarini, CNBC Indonesia

KINI dunia tengah beramai-ramai menuju

transisi energi, salah satunya yaitu mengem-bangkan kendaraan listrik sebagai peralihan dari kendaraan berbahan bakar minyak.

Beberapa perusahaan kelas dunia telah memproduksi mobil listrik seperti Tesla, Hyundai, Wuling, dan lainnya. Oleh karena itu, keberadaan pabrik baterai untuk menyimpan energi mobil listrik ini pun tentu menjadi sangat penting untuk dikem-bangkan.

Begitu pun dengan Indonesia yang beberapa waktu belakangan ini gencar mendekati sejumlah perusahaan kelas dunia agar berinvestasi membangun pabrik baterai hingga mobil listrik di Indonesia.

Kondisi tren pengembangan pabrik baterai dan mobil listrik ini tentunya akan berimbas pada peningkatan konsumsi nikel untuk bahan baku baterai dan kendaraan listrik.

Menurut data Wood Mackenzie, pertum-buhan kendaraan listrik diperkirakan akan meningkatkan permintaan nikel hingga 550 ribu ton per tahun pada 2030, naik diban-dingkan konsumsi nikel untuk kendaraan listrik dan baterai di bawah 200 ribu ton pada 2019.

Daily News Update Page 18

Global nickel consumption for electric vehicles and Battery Energy Storage System (BESS) in 2020 is estimated to be the same as 2019, which is still below 200 thousand tons per year. In 2021, nickel consumption for electric vehicles and batteries is estimated to increase to over 200 thousand tons per year, then in 2026 it is estimated to increase significantly to around 300 thousand tons per year, and in 2030 it will increase to around 550 thousand tons.

Although the trend of global nickel consumption is increasing for the need for batteries and electric vehicles, the class 1 nickel supply is expected to shrink from 2030. (wia)

Konsumsi nikel dunia untuk kendaraan listrik dan Battery Energy Storage System (BESS) pada 2020 diperkirakan masih sama dengan 2019 yang masih di bawah 200 ribu ton per tahun. Pada 2021, konsumsi nikel untuk kendaraan listrik dan baterai diperkirakan akan meningkat menjadi di atas 200 ribu ton per tahun, lalu pada 2026 diperkirakan naik signifikan menjadi sekitar 300 ribu ton per tahun, dan pada 2030 akan naik menjadi sekitar 550 ribu ton.

Meski tren konsumsi nikel global meningkat untuk kebutuhan baterai dan kendaraan listrik, namun dari sisi pasokan nikel kelas 1 diperkirakan akan menyusut mulai 2030. (wia)

Eight Years No Findings of Giant New Mining Reserves in

Indonesia Suci Sedya Utami

IN THE last eight years, exploration

activities in the mining sector have experienced a drastic decline. This has left Indonesia relatively without the discovery of huge new mining reserves.

SVP Exploration Division MIND ID Wahyu Sunyoto said that the last time the investment was used for massive exploration in Indonesia was in 2012. After that, exploration activities almost shrunk in scale. The decline in exploration enthusiasm was caused by legal uncertainty that made the investment climate in the mining sector no longer attractive.

In fact, he continued, there are still many potential mining areas in the country that can be worked on.

Sewindu, Tak Ada Temuan Cadangan Tambang Baru

Raksasa di Indonesia Suci Sedya Utami

DALAM kurun waktu sewindu terakhir, kegiatan eksplorasi di sektor pertam-bangan mengalami penurunan drastis. Hal ini membuat Indonesia relatif tak memiliki temuan cadangan tambang baru dalam jumlah raksasa.

SVP Exploration Division MIND ID Wahyu Sunyoto mengatakan terakhir kali investasi yang digunakan untuk eksplorasi besar-besaran di Indonesia pada 2012. Setelah-nya, nyaris kegiatan eksplorasi skalanya menciut. Menurunnya gairah eksplorasi disebabkan oleh ketidakpastian hukum yang membuat iklim investasi di sektor pertambangan tidak lagi menarik.

Padahal, lanjutnya, sebetulnya masih banyak potensi lahan tambang di Tanah Air yang bisa digarap.

Daily News Update Page 19

"The obstacles are related to regulations

and uncertainty about investing in mining,"

said Wahyu, at a mining industry

workshop, Thursday, October 22, 2020.

In the old Minerba Law, said Wahyu, for

example, investors responded negatively

because they did not provide access to

funding. This causes the exploration

budget to decrease from year to year.

"Approximately USD 30 billion came from

the capital market and none of them

entered Indonesia. Investors will flock to

countries that provide access to funding,"

he said.

Likewise, General Manager of the Geomin

and Technology Development Unit of PT

Aneka Tambang Tbk (Antam) Tri Hartono

said that the regulations are very closely

related to exploration activit ies. In

addition, overlapping forestry land uses is

also an obstacle.

"If we talk about Antam alone, they have

seven IUPs all in forest areas. That is one of

the obstacles," said Tri.

Tri assessed that there needs to be

encouragement from the government so

that business actors and investors in the

mining world allocate a portion of their

revenue for exploration funds.

"Each company must have a revenue ratio

and exploration costs. I think if it is

implemented properly, will 2-3 percent of

the revenue for exploration be the driving

force for exploration," said Tri. (ABD)

"Kendalanya yang berhubungan dengan aturan dan juga ketidakpastian investasi di

pertambangan," kata Wahyu, dalam work-shop industri pertambangan, Kamis, 22

Oktober 2020.

Dalam UU Minerba yang lama, kata Wahyu, misalnya, disikapi negatif oleh investor

sebab tidak memberikan akses pendanaan. Hal ini membuat anggaran eksplorasi dari

tahun ke tahun menurun.

"Kira-kira ada USD30 miliar berasal dari pasar modal dan enggak ada satupun yang

masuk ke Indonesia. Investor akan masuk berduyun-duyun ke negara yang mem-

berikan akses pendanaan," tutur dia.

Senada, General Manager Unit Geomin dan

Technology Development PT Aneka Tambang Tbk (Antam) Tri Hartono

mengatakan regulasi amat sangat ber-kaitan dengan kegiatan eksplorasi. Selain

itu tumpang tindih tata guna lahan kehutanan juga menjadi hambatan.

"Kalau kita bicara Antam saja punya tujuh

IUP semuanya di kawasan hutan. Itu jadi salah satu penghambat," ujar Tri.

Tri menilai perlu adanya dorongan dari

pemerintah agar para pelaku usaha dan investor di dunia tambang mengalokasikan

sebagian dari pendapatannya untuk dana eksplorasi.

"Masing-masing perusahaan harus ada ratio revenue dan biaya eksplorasi. Saya

pikir kalau diterapkan dengan baik apakah 2-3 persen dari revenue untuk eksplorasi

ini akan jadi pendorong buat eksplorasi," pungkas Tri. (ABD)

Daily News Update Page 20

Freeport-McMoRan posts Q3 profit boosted by gold prices MINING.COM Staff Writer

FREEPORT McMoRan beat analysts’ estimates for third-quarter profit, as the miner

benefited from higher gold prices due to the covid-19 pandemic and cost cuts.

The average price Freeport received for its gold surged nearly 28% to 1,902 per ounce in the third quarter, with copper and gold sales nearly 7% higher than the company’s July estimates.

The company announced a major cost-cutting drive in April and has also lowered its capital expenditure.

Total costs and expenses fell about 7% to $2.97 billion in the third quarter ended September 30.

Freeport reported Q3 copper sales of 848 million pounds, 7% higher than the July 2020 estimate of 790 million pounds, primarily reflecting higher sales from North and South America mines.

The miner recently completed the Lone Star copper leach project in Arizona, with production ramping-up and remaining on track to produce approximately 200 million pounds of copper annually.

Freeport also expects to restart Chino mine in New Mexico at a reduced rate of approximately 50% of capacity (approximately 100 million pounds of copper per year) beginning in 2021.

Cerro Verde continued to make progress toward restoring operations during third-quarter 2020, with operating rates averaging 351,000 metric tonnes of ore per day (approximately 90% of the 2019 annual average), the company said.

Third-quarter gold sales of 234 thousand ounces were 6% higher than the July 2020 estimate, primarily reflecting higher ore grades in Indonesia.

“Metal production is expected to improve significantly in 2021 with estimated consolidated sales of 3.85 billion pounds of copper and 1.4 million ounces of gold for the year 2021,” the company said in a press release.

Freeport said plans to transition the giant Grasberg copper and gold project in Indonesia to underground operations from open pit mining were on schedule.

Combined average production from the Grasberg Block Cave and DMLZ mines approximated 60,000 metric tonnes of ore per day during Q3, 9% above the Q2 average but approximately 15% below the July forecast, primarily reflecting unplanned downtime and a brief labor-related work stoppage, according to Freeport.

Profit

The company reported net income attributable to shareholders of $329 million, or 22 cents per share, compared to a net loss of $207 million, or 15 cents per share, a year earlier.

Daily News Update Page 21

Excluding items, Freeport reported a profit of 29 cents per share, beating analysts’ average estimate of 21 cents, according to IBES data from Refinitiv.

“Our strong cash flows in the third quarter, growing volumes, effective cost management and

positive market outlook for our products provide momentum to continue to strengthen our balance sheet, increase returns to shareholders and generate long-term values for all

stakeholders,” said Freeport CEO Richard C. Adkerson.

Revenue jumped 22% compared to the same period of 2019, to $3.85 billion.

Midday Thursday, Freeport’s stock was up 2% on the NYSE. The company has a $26 billion market capitalization. (With files from Reuters)

PT Sumbawa Timur Mining announces assay results Published by Jessica Casey, Editorial Assistant

PT SUMBAWA Timur Mining (STM) has announced the assay results from VHD096; a

2042.72 m vertical drill hole into the Onto deposit. The assay results confirm that the Onto deposit extends >500 m below the previously-defined depth of mineralisation. With assay results having successfully undergone comprehensive quality assurance/quality control processes, STM is pleased to report a 1594.7 m intercept grading at 1.00% copper (Cu) and 0.40 g/t gold (Au). This includes an intercept of 100 m grading at 5.99 % Cu and 1.11 g/t Au.

On 19 February 2020, the company announced the discovery of the Onto copper-gold deposit, one that positions the company to be a leading copper producer in Indonesia. STM is the owner of the Hu’u Project 7th generation Contract of Work (CoW) in Nusa Tenggara Barat Province, Indonesia. The company is a joint venture between Eastern Star Resources Pty Ltd (80%), a 100%-owned subsidiary of Vale SA, and PT Antam Tbk (20%).

President Director of STM, Bede Evans, commented: “We are extremely enthused by the results from VHD096. It was a challenging drill hole and was achieved through the hard work of our dedicated staff and contractors. We’re very much now focused on assessing the opportunities presented by these results.”

Coinciding with the release of the results from VHD096, the company also received impressive assay results from VHD091 (a 1420.2 m drill hole into the south-west part of the deposit from the same drill pad). VHD091 intercepted 1010.2 m grading at 1.11% Cu and 0.84 g/t Au. This includes an intercept of 318.0 m grading at 1.81% Cu and 1.32 g/t Au.

STM Vice-President Director, Bronto Sutopo, added: “The results from VHD096 and VHD091 present numerous opportunities for STM. We are encouraged by the strong collaborative relationship developed with the government of Indonesia and believe these results provide a solid foundation for the continued development of the Hu’u Project.”

Daily News Update Page 22

The significance of the Onto deposit and Hu’u Project to the mining industry in Indonesia was recently reflected with STM being awarded Best Exploration Expenditure, Best Discovery and Best in Class by the Association of Indonesian Geologists (IAGI) during their IAGI Awards 2020. STM Director of Operations, James Connolly, emphasised the significance of the three IAGI Awards: “It’s a proud moment for the STM team and the shareholders to be awarded such prestigious accolades. We thank IAGI for this recognition and thank the STM team, past and present, who contributed to the Onto deposit discovery and the operation of the Hu’u Project.”

STM also confirmed that site operations have recommenced following a temporary suspension of operations due the coronavirus pandemic. Evans said: “We undertook a number of measures in March and April 2020 to temporarily slowdown of our operations. Through our close working relationship with the Dompu Regency government, we are remobilising our staff and contractors to the Hu’u Project site.”

China, Japan to lead platinum demand rebound over next four years By: Marleny Arnoldi, Creamer Media Online Writer

PLATINUM demand is set to fall by 7.2% globally this year, on the back of lower demand

from the automotive and jewellery sector.

Typically, these sectors account for 34% and 24% of total demand, respectively, but Covid-19 had dampened the sector’s operations and their own demand, says data and analytics company GlobalData.

Particularly, China and Japan are the two biggest platinum-consuming nations and together account for 35% of platinum demand, says senior mining analyst Ankita Awasthi.

Demand from these countries is expected to fall by 9.2% and 11.8%, respectively, this year.

In China alone, GlobalData reports that its metal demand for jewellery, industrial, automotive and other uses is likely to contract by 14%, 4.6% and 3.9%, respectively.

This while metal demand from these segments in Japan will decline by 14% for autocatalysts, 12.1% for jewellery and 7.5% for industrial uses.

Despite the pandemic impacting on demand for platinum from the automotive sector, demand will still recover over coming years as stricter emission standards are implemented, says the company.

GlobalData says China has the world’s largest automobile industry and consumes 7.1% of the metal for autocatalysts. With the country having to shut down its industrial belts during its lockdown, the country recorded a 79% year-on-year fall in automotive sales in February and a 43% fall in March.

However, sales subsequently grew by 4.4% year-on-year in April, 14.5% in May and 11.6% in June, compared with the sales of these months last year.

Daily News Update Page 23

Over 2020 to 2024, platinum demand from the automobile industry is expected to grow by a compound annual growth rate (CAGR) of 3.8% globally and by 9.5% in China alone.

Accordingly, global platinum demand will increase by a CAGR of 4.3% over this period, while platinum demand in China and Japan will grow at CAGRs of 5.2% and 2.4%, respectively, over the forecast period.

Wyoming coal company to shrink thermal coal operations

A COAL firm in Wyoming has announced plans to shrink thermal coal operations by about

50%, shifting toward metallurgical coal and steel production.

Arch Resources Inc. announced Thursday during an investor meeting that its Black Thunder and Coal Creek mines in the Powder River Basin are expected to reduce thermal coal production over the next three years, the Casper Star-Tribune reported.

“We have launched an accelerated effort to evaluate strategic alternatives for our thermal operations, including possible divestiture,” company Chief Executive Officer Paul Lang said. “Simultaneously, we are finalizing plans to shrink the operational footprint at these operations.”

Company officials also reported a net loss of $191.5 million in the third quarter and a $163 million non-cash write down of assets at “several of its legacy thermal operations,” not including Black Thunder coal firm.

The company’s mines in Wyoming have produced about 75 million tons (68 million metric tons) of coal last year, but estimate less than 55 million tons (49 million metric tons) this year, officials said.

The U.S. Mining, Safety and Health Administration reported that the company’s Black Thunder mine produced over 116 million tons (105 million metric tonnes) in 2010 in comparison.

The demand for coal has decreased in recent years with the expansion of affordable natural gas and renewable energy. As a result, mines across the state have seen increasing unemployment and state revenue declines, trends that are only further exacerbated by the coronavirus pandemic.

“Domestic demand for thermal coal is the driver of these decisions,” Wyoming Mining Association Executive Director Travis Deti said. “Unfortunately as demand decreases production does as well. With capacity in the (Powder River Basin) in Wyoming exceeding demand at this point in time, operators across the basin are making difficult decisions on how best to compete for the shrinking customer base.”

Daily News Update Page 24

Anglo American output in Q3 jumps, thanks to Collahuasi Cecilia Jamasmie

ANGLO American (LON: AAL) said on Wednesday its mining operations continued to recover

from the early impact of the covid-19 pandemic during the three months to September 30.

Total production climbed by 24% compared with the previous quarter as the company’s

mines are now running at about 95% of normal capacity.

The numbers, however, are still below last year’s recorded output in the third quarter for

most of the commodities Anglo produces.

Diamond production -- through De Beers -- dropped 4% from Q3 last year, while platinum fell

2% and palladium was flat.

Iron ore output declined by 9% in South Africa and 18% in Brazil. Coal was the worst

performing commodity, with the company recording a 26% production fall for metallurgical

and 11% decline for thermal.

Copper help

Copper production increased by 4% on the back of continued strong performance at Anglo’s

Collahuasi copper mine in Chile. That helped mitigate the company’s overall year on-year

production decrease to 3%, despite planned maintenance at Minas-Rio iron ore in Brazil and

excluding the effect of the suspended Grosvenor metallurgical coal operation in Australia.

Coronavirus-related challenges continue to impact Anglo and Mitsubishi’s $5 billion

Quellaveco copper project, although the company still expects first production in 2022.

Anglo maintained most of its full-year production targets, although it cut annual guidance for

export thermal coal to 19 million tonnes from the previous 21 million tonnes due to strikes in

Colombia.

The company’s results come a day after news of a lawsuit against the company in South Africa

broke.

Law firms Mbuyisa Moleele and Leigh Day filed a class-action lawsuit at the country’s High

Court on Wednesday, claiming the company caused widespread lead poisoning from a mine it

owned in Zambia until 1974.

The move seeks both compensation for about 100,000 people and a clean-up of the Kabwe

city area.

Daily News Update Page 25

Gold production in Quebec hit hard by COVID-19 By Vladimir Basov

GOLD production in Quebec in Q2 2020 declined by 32% over Q2 2019 due to COVID-19 related suspensions. Canadian Malartic was the largest gold mine in Quebec.

Quebec is the second largest gold producer in Canada after Ontario. In 2019, Quebec produced 1,927 kozt of gold, or 34% of the total gold output in Canada.

Gold production in Canada in 2019, by province (in thousand troy ounces). Sources: Natural Resources Canada; Statistics Canada.

According to the officially released corporate reports, Quebec produced 308 kozt of gold in Q2 2020, a whopping 32% decline over Q2 2019 volume (450 kozt) mainly due to suspensions imposed in accordance with the Quebec government-mandated restrictions to address the COVID-19 pandemic in the province.

Canadian Malartic, a gold mine jointly owned by Yamana and Agnico Eagle, was the largest gold operation in Quebec with 114 kozt of gold produced in Q2 2020, a 33% decline compared to 169 kozt mined in Q2 2019. The Canadian Malartic mine entered care and maintenance on March 24, 2020, in response to government restrictions related to COVID-19 that required mining companies to minimize operational activities. On April 14, 2020, following the Government of Quebec’s decision to authorize the resumption of mining activities, the Partnership announced that the Canadian Malartic would resume operations starting on April 15, 2020.

Daily News Update Page 26

Agnico Eagle’s LaRonde mine complex is second with 74 kozt of gold produced during Q2 2020. Gold production in the second quarter of 2020 decreased by 20% compared to the prior-year period primarily as a result of the suspension of operations in April, partially offset by higher grade related to positive grade reconciliation in stopes mined in the West mine area.

Eldorado Gold’s Lamaque mine is third with the production of 33 kozt of gold in Q2 2020, which was virtually the same compared to Q2 2019. While gold production met expectations for most of the quarter, production earlier in the quarter was negatively impacted by a reduction in tonnes milled as a result of a temporary suspension of operations from March 25, 2020 to April 15. Mining operations re-started in mid-April 2020 with processing operations restarting later in April following the completion of planned maintenance.

Hecla’s Casa Berardi mine produced comparable 31 kozt of gold quarter-on-quarter despite suspension of operations from March 24 until April 15.

Gold production at Agnico Eagle’s Goldex mine in the second quarter of 2020 decreased by 32% when compared to the prior-year to 23 kozt primarily as a result of the suspension of operations in April and lower grades related to the mining sequence.

IAMGOLD’s Westwood mine was placed on care and maintenance on March 25, 2020, along with other mining companies province-wide, as directed by the Government of Quebec in response to the COVID-19 crisis as mining was considered a non-essential business.

Subsequently on April 15, 2020, Westwood commenced the restart of operations from care and maintenance following the April 13, 2020 confirmation from the Government of Quebec that mining is an essential business. Gold production for the second quarter 2020 was 17% lower than the same prior year period primarily due to lower grades, partially offset by higher throughput.

Newmont’s Éléonore mine operations were tempo-rarily halted on March 23, 2020 as the operations were placed on care and maintenance due to the Quebec government’s res-triction on non-essential travel in response to the COVID-19 pandemic.

Éléonore began ramping-up operations and milling activities resumed in May 2020. As a result of temporary suspension, gold production decreased by 80% over Q2 2019 to 13 kozt.

The complete list is below.

Daily News Update Page 27

Gold mines in Quebec, ranked by gold output in Q2 2020.

1. Canadian Malartic. 114 kozt.

Canadian Malartic Open Pit Mine is located 3 km S from Malartic, Quebec, Canada.

Canadian Malartic mine is Quebec’s largest gold mine.

The mine was developed within just six years after the first exploration drill holes in 2005. The first gold pour was in April 2011, and commercial production began in May 2011.

Ore is processed at the Canadian Malartic mineral processing complex, which has a 55,000-tonnes/day nominal throughput capacity. Ore is transported to a crushing circuit and the crushed ore is stockpiled in a covered pile, then conveyed to the semi-autogenous grinding circuit followed by three identical ball mills, each in closed circuit with hydro-cyclones. The slurry is thickened to about 50% solids before being fed to the leach tank circuit for conventional cyanidation followed by carbon-in-pulp processing technology. The product is doré bars containing gold and silver.

2. LaRonde. 74 kozt.

LaRonde Underground Mine is located 44 km W from Rouyn-Noranda, Quebec, Canada.

LaRonde has produced almost 6 million ounces of gold since it opened in 1988. LaRonde’s 2.2-km deep Penna Shaft is now the deepest single-lift shaft in the Western Hemisphere. LaRonde achieved commercial production of its deep extension (that is, below level 245) in November 2011, where approximately 94% of its ore is now mined. LaRonde currently has a mine life lasting through to 2025.

3. Lamaque. 33 kozt.

Lamaque is an underground gold mine in Val-d’Or, Quebec.

Commercial production was declared on March 31, 2019.

The Lamaque operation consists of the newly-discovered Triangle gold deposit located only 2.5km south of the historical world-class Lamaque and Sigma Mines, which are also on the property and produced over 10Moz of gold. The Triangle deposit is located in the Val d’Or mining camp, at the eastern end of the prolific Southern Abitibi Greenstone Belt. The deposit is an Archean greenstone-hosted orogenic lode gold deposit. Gold is found within quartz-tourmaline-carbonate veins, which are hosted within a series of sub-parallel sub-vertical shear zones centered around a steeply plunging cylinder-shaped porphyritic diorite (“The Triangle Plug”), which intrudes the mafic volcanic stratigraphy of the Val d’Or formation.

4. Casa Berardi. 31 kozt.

Casa Berardi Underground Gold Mine is situated 95 kilometres north of La Sarre, Quebec and straddles a 37 kilometre section of the Casa Berardi fault.

The Casa Berardi gold deposits are located along a five kilometre east-west mineralized corridor. They include the East and West mines, and the Principal Zones.

The mine has produced approximately 1.9 million recovered gold ounces since commencing production in 1988, including about 931,244 recovered ounces since production recommenced in November 2006.

Daily News Update Page 28

5. Goldex. 23 kozt.

Goldex Underground Gold Mine is located in the Dubuisson Township of Quebec and forms part of the southern Abitibi Greenstone Belt.

Underground mining from the M and E satellite zones and processing in the mill started in September 2013. Commercial production was achieved in October 2013. The Deep 1 project was declared to be in commercial production in July 2017.

6. Westwood. 20 kozt.

The Westwood Underground Gold Mine is located on the Doyon property, 2.5 kilometres east of the former Doyon Gold Mine in the Bousquet Township, approximately 40 kilometres east of Rouyn-Noranda and 80 kilometres west of Val d’Or in southwestern Québec, Canada. This area is approximately 420km northwest of Montreal. The Westwood Project covers 1,925 hectares and consists of 120 titles, one mining lease, one surface lease and three tailings leases. The Westwood Project is held 100% by IAMGOLD.

Communications are via fast network links and water supply facilities are available to the Westwood Project. The nearest active railway line is located less than 10 km south of the project.

7. Eleonore. 13 kozt.

Eleonore Underground Gold Mine is located in Eeyou Istchee/James Bay, in a remote corner of the Northern Quebec region, 800 kilometres north of Montreal on the 52nd parallel.

Its first gold pour was on October 1, 2014, and it achieved commercial production on April 1, 2015.

Gold comes from the Roberto Deposit, which is marked by complex folding and faulting and is still open down plunge. The ore is mined from four horizons using sill and stope techniques, then processed onsite using a conventional circuit that includes crushing, grinding, gravity, flotation and cyanidation. Overall gold recoveries are 92%.

The operation has begun to develop a fifth mining horizon and build a production shaft, both of which will bring Eleonore closer to its full production capacity.