Coal Journal
Newcastle coal futures, the benchmark for top consuming region Asia, skyrocketed to a new record high of around $460 per ton, supported by continued robust demand and persistent supply disruptions exacerbated by the war in Eastern Europe. This strong price should help Indonesian State Budget, especially with higher royalties from IUP miners in the last quarter of the year.
Sinarmas Group & ABMM’s Entry into GEMS (2): What if?
Shares of Golden Energy Mines (GEMS), a coal miner controlled by Sinarmas Group, jumped nearly 16% to Rp8,025 on Friday (Sep 2) to make a market capitalization of Rp47.21 trillion. Shares of ABM Investama (ABMM), controlled by Hamami Family, also surged by 10% to Rp3,300 to make market capitalization of Rp9.09 trillion.
Bukit Asam’s Renewable Energy Drive
The Ministry of Energy and Mineral Resources (ESDM) has currently issued the Electricity Supply Business Plan (RUPTL) for 2021-2030. It sets out a renewable energy target of 51.6% by 2030, climbed from 30% target in the previous RUPTL released in 2019. The fossil energy, meanwhile, is lower at 48%.
A bonanza year for coal miners (10)
Not as good as peers in the coal industry, but Bumi Resources (BUMI), the largest producers in Indonesia, booked profit attributable to owners of US$167.67 million in the first half (H1) of 2022, compared to US$1.89 million profit only in the corresponding period of 2021, as revenues surged 129% year on year (y/y) to US$968.7 million.
Small nickel miners (2): Ifishdeco
Shares of nickel miner Ifishdeco (IFSH) ended flat at Rp1,210 on Wednesday (Aug 310 to make a market capitalization of Rp2.57 trillion. Ifishdeco, which has ventured into nickel processing/smelting, has lost more than 50% from its peak.
Small nickel miners (1): PAM Mineral
Shares of nickel miner PAM Mineral (NICL) ended lower by 1.94% to Rp101 on Wednesday (Aug 31) to make a market capitalization of Rp976 billion. Like peers in the industry, PAM Mineral has retreated 25% from peak to follow correction of nickel prices.
A bonanza year for coal miners (9)
PT Adaro Energy Indonesia (ADRO) Tbk, the second largest coal miner behind Bumi Resources (BUMI) in terms of volume, posted net profit of US$1.2 billion in the first half ended June 30, 2022, skyrocketed from US$169.96 million in the corresponding period last year.
A bonanza year for coal miners (8)
Metallurgical coal producer Adaro Minerals Indonesia (ADMR), subsidiary of Adaro Energy (ADRO), booked profit attributable to owners of US$201 million in the first half (H1) of 2022, surged 491% year on year (y/y), as operating profit surged 446% y/y to US$273 million. Operating margin improved to 62.6% from 30.9%. Revenues jumped 165% y/y to US$435.6 million.
Jhonlin +CNGR in Nickel-EV Ecosystem
PT Anugerah Barokah Cakrawala (ABC), a company owned by Haji Isam’s Jhonlin Group, has recently kicked off construction of a nickel smelter with Rp6 trillion of investment at the Sungai Dua special economic zone (SEZ) in Tanah Bumbu Regency, South Kalimantan province....
A bonanza year for coal miners (7)
Coal miner TBS Energi Utama (TOBA), linked to the family of Luhut Binsar Panjaitan, coordinating minister of maritime and investment affairs, booked net profit of US$51.2 million in the first half (H1) of 2022, jumped 70% year on year (y/y) as revenue grew 47.6% y/y to US$279.5 million. Operating profit jumped 60% y/y to US$72.6 million, thanks to higher average price of thermal coal.