Merdeka Copper Gold (MDKA) announced the entry of Brunp, an entity controlled by China’s Contemporary Amperex Technology Co Ltd (CATL), as owner of 5% shares in the gold and copper producer, which currently has market capitalization of Rp120 trillion. This is the second major investment from CATL, the world’s largest lithium ion battery manufacturer, in Indonesia.

Concerns about tighter monetary policy and its implication to the global economy led to significant correction of commodities, including nickel. The commodity collapsed 7.8% to US$28,000 per ton in LME Monday (May 9). Still, at this price, Indonesian nickel producers will report significantly higher profit. 

Shares of palm oil producers have consistently been valued way below their potentials. Funny that the troubled plantation company Eagle High Plantation (BWPT) is valued 1.3x equity, higher than profit machines like Sinar Mas Agro (SMAR) and Astra Agro Lestari (AALI), which are now valued 1.1x and 0.9x respective equities.

One month of export ban didn’t prevent Indonesian coal miners from generating huge profits in the first quarter of 2022, thanks to extremely high thermal and metallurgical coal prices. Adaro Energy (ADRO) posted net profit of US$400 million in the quarter, skyrocketed 456% from the corresponding period last year.

PT Vale Indonesia Tbk (INCO) has signed a framework cooperation agreement with Zhejiang Huayou Cobalt Company Limited for the development of a High-Pressure Acid Leaching (HPAL) processing facility in Pomalaa, Kolaka, Southeast Sulawesi. The agreement was announced Thursday (Apr 28), two days after Sumitomo Metal Mining Co Ltd pulled out from the project.