Category: Commodities

Notes on PLN’s First Quarter Financials

State utility firm PT Perusahaan Listrik Negara (PLN) booked net profit of Rp5.36 trillion in the first quarter of 2022, increased from Rp4.9 trillion in the corresponding period last year. PLN’s financials reflected growing economic activities of the country in the first quarter.

Read More

Q&A with Freeport CEO (1)

Freeport Indonesia’s concession will only expire in 2041, but the company has asked the government to start talks about extension of the world’s largest copper and gold mine. We recently interviewed Tony Wenas, president director of the company. 

Read More

Revisiting Cita Mineral

Aluminium retreated further to US$2,475 per ton in LME Monday (Jun 27) on concerns about global economy. The commodity has dropped from peak above US$3,000 per ton, affecting Cita Mineral (CITA), Indonesia’s largest bauxite miner. 

Read More

Nickel-EV Journal

Nickel has dropped significantly in recent weeks to as low as US$22,100 per ton in the London Metal Exchange (LME). As energy price remains high, margins will be substantially squeezed, but this is still a good price for Indonesian producers. Besides, supply-demand fundamentals provide a long-term positive outlook.

Read More

Oil & Gas Journal

WTI crude futures rose more than 1% to above US$111.5 per barrel on Tuesday, extending a 0.6% gain in the previous session, as persistent concerns about tight oil supply outweighed fears that aggressive monetary tightening could lead to a global recession and demand slowdown. 

Read More

Pertamina’s financials

State oil and gas firm Pertamina, one of the largest companies in Indonesia with total assets of US$78 billion, booked net profit of US$2.24 billion in 2021, surged 172% year on year, supported by revenues growth and cost efficiency. Some anticipate initial public offering (IPO) of two profitable subsidiaries in the upstream and geothermal.

Read More

Pressures on Vale Indonesia

Nickel miner Vale Indonesia (INCO), which holds one of the largest nickel concessions in the world, is currently under pressure from some politicians related to extension of its contract. Vale, where state-owned mining holding MIND ID is a substantial shareholder, embarks on two major nickel smelting projects worth more than US$2 billion. 

Read More

Pressures on Vale Indonesia

Nickel miner Vale Indonesia (INCO), which holds one of the largest nickel concessions in the world, is currently under pressure from some politicians related to extension of its contract. Vale, where state-owned mining holding MIND ID is a substantial shareholder, embarks on two major nickel smelting projects worth more than US$2 billion. 

Read More

Nickel Journal

Nickel has stabilized below US$30,000 per ton in London Metal Exchange (LME) in the past few weeks, with the last quoted price at US$28,575 per ton on Wednesday (June 1). This price is still good enough for Indonesian nickel miners despite higher input costs, particularly coal and fuel for nickel smelters. 

Read More

BUMI: Questions about royalty & margins

Shares of Bumi Resources (BUMI), the country’s largest coal producer, gained 5.45% to Rp58 on Tuesday (Maya 31) on broad market sentiment. At the last quoted price, BUMI was worth Rp7.5 trillion, nothing compared to Adaro Energy (ADRO), the second largest producer with market capitalization of Rp105 trillion. 

Read More

Corporations to Watch

Tolaram Group Inc. as the controlling shareholder of Bank Amar Indonesia (AMAR), will exercise its rights to buy AMAR new shares. The Bank will issue 3.59 billion new shares, representing 20.6% of enlarged capital, priced at Rp280 per unit, to raise Rp1 trillion. Trading of rights is set for July 14-20, 2022.

Read More
Loading
error: Content is protected !!