Gov’t Vows Full Support for Foxconn’s Battery Investment
Gov’t Vows Full Support for Foxconn’s Battery Investment
25 Jun 2022, 07:12 AM 6277

President Joko “Jokowi” Widodo has instructed his cabinet to make sure that Taiwanese tech company Hon Hai Precision Industry Co. Ltd (Foxconn) materializes investments in battery and electric vehicle industries here without any hurdle, Investment Minister Bahlil Lahadalia said on Saturday.Foxconn has agreed to build electric car components, batteries, and electric motors and relocate its telecommunications spare part manufacturing facilities from China to the Batang integrated industrial area in Central Java in a move estimated to bring $8 billion direct investment to Indonesia. Earlier this year, the Taiwanese firm signed an MoU on the joint venture project with Indonesia's state-owned battery maker Indonesia Battery Corporation (IBC), Indonesia's listed miner Indika Energy, and Taiwan's electric bike maker Gogoro Taiwan for its Indonesian operations. The much-awaited investment is in line with the Jokowi administration’s ambition to build the most extensive EV ecosystem in the region.“Mr. President has instructed me to keep an eye on the investment until it is materialized,” Bahlil said after a meeting with Jokowi at Bogor Palace, West Java. He was accompanied by Foxconn Chairman Liu Young-Way and Indonesian Chamber of Commerce and Industry Chairman Arsjad Rasjid.“Mr. President is keen to see the investment materialized immediately. One thing to his delight, this [investment] involves a collaboration of a state-owned company, a foreign investor, and local MSMEs and entrepreneurs,” Bahlil said. Foxconn's investment would put a milestone to Indonesia's ambition to develop a global-scale electric vehicles industry and attract more investment to its shores. The Investment Coordinating Board (BKPM) targeted to attract domestic and foreign investment totaling Rp 1,200 trillion this year, up 33 percent from Rp 901 trillion last year. For Foxconn, the initiative would present an ample opportunity to develop a sustainable new energy ecosystem in Indonesia with local partners.  “Hon Hai is excited to embark on the journey to transform the new energy ecosystem in Indonesia in cooperation with the local government, Gogoro, IBC, and Indika,” Liu, the chairman of Hon Hai Technology Group, said in a statement in February. "I believe the implementation of the MIH platform, alongside our build-operate-localize (BOL) strategy and manufacturing expertise, will allow us to meet the market demand and create a sustainable new EV [electric vehicles] ecosystem in Indonesia,” Liu said. He referred to "Mobility in Harmony," an open EV ecosystem platform promoted by mainly Asian companies.Source: https://jakartaglobe.id/business/govt-vows-full-support-for-foxconns-battery-investment

Commitment to the Battery-Based Electric Motor Vehicle Ecosystem Continues to be Strengthened
Commitment to the Battery-Based Electric Motor Vehicle Ecosystem Continues to be Strengthened
24 Jun 2022, 01:20 PM 6116

Representing the Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif, Secretary General of the Ministry of Energy and Mineral Resources Ego Syahrial today, Friday (24/6) witnessed the signing of three Memorandums of Understanding supporting the energy transition program. This signing is part of a series of The 2nd Energy Transitions Working Group (ETWG), in Labuan Bajo, East Nusa Tenggara.According to Ego, currently all countries are trying to keep the global temperature increase up to 1.5?C to avoid the impact of global disasters and climate change, including extreme heat, rising sea levels, the extinction of several living things, changes in ecosystems, and the extinction of coral reefs and coral reefs. marine fisheries.For this reason, efforts are needed to mitigate climate change by reducing carbon emissions (decarbonization) but while maintaining energy security. "This makes the energy transition even more urgent to be implemented as the direction of the national energy policy going forward, namely the transition to cleaner, less emission and environmentally friendly energy in accordance with Indonesia's commitments to the Paris Agreement and the Net Zero Emission target in 2060 or sooner with international assistance," said Ego.Mitigation efforts carried out include the development of New Renewable Energy (EBT), reducing the use of fossil energy and increasing the use of Battery-Based Electric Motorized Vehicles (KBLBB). The Ministry of Energy and Mineral Resources, continued Ego, continues to encourage the KBLBB Program to realize cleaner energy use, reduce fuel imports, save foreign exchange and reduce CO2 emissions.To note, today a Memorandum of Understanding was signed between the Ministry of Energy and Mineral Resources with PT Pertamina (Persero) and PT PLN (Persero) for the electric motor conversion program. Furthermore, between PT PLN (Persero) and HIMBARA (Bank Mandiri, BRI, BNI, BTN) for KBLBB ownership credit and infrastructure development for Public Electric Vehicle Charging Stations (SPKLU)."This is an effort to create a KBLBB ecosystem with a target of 6 million electric motor units by 2025. The implementation of this program will be able to save fuel around 13 million barrels/year or Rp. 16 trillion/year, reduce CO2 emissions by 4 million tons/year and increase electricity consumption is 2.4 terawatt hours (TWh)/year," explained Ego.This program also provides benefits for increasing new skills for the younger generation, opening up new job opportunities with conversion workshops, and increasing local component production. Meanwhile, another memorandum of understanding signed was between PT. PLN (Persero) with the Provincial Government of NTT and Nusa Cendana University in developing integrated energy forests and livestock in the context of producing biomass to meet the needs of Steam Power Plants (PLTU). This program can also reduce the use of fossil energy through co-firing of biomass at PLTU."It is hoped that through this program, community empowerment, BUMD, MSMEs can be carried out by involving universities to provide biomass raw materials in a sustainable manner," said Ego. Meanwhile, the President Director of PLN Darmawan Prasodjo stated that PLN was ready to support the conversion program of fuel motors to electric motors to accelerate the formation of an electric vehicle ecosystem in Indonesia and accelerate the achievement of the Carbon Neutral target by 2060."This conversion is also a step for us to be more independent in energy security. Because we are moving from import-based energy to domestic-based energy," said Darmawan. He said that this year PLN has prepared 400 units of electric motors that will be used as operational vehicles. This is also one of PLN's ways to campaign for electric motors to the public."Because this motorbike will continue to circle, there is a logo of PLN and the Ministry of Energy and Mineral Resources. That this will be seen by many people and the cost will go down. So that it can attract people's attention," said Darmawan. He also said that using electric vehicles could reduce carbon emissions. Given that one of the largest contributions of carbon emissions today comes from the transportation sector."Emissions of 1 liter of fuel are lower than electricity, the carbon emission is lower than electricity. For that, we strongly support this program as one of the steps to reduce carbon emissions," added Darmawan. In addition to being actively involved in converting fuel motors to electric motors, PLN also ensures that the electrical infrastructure to support electric vehicles in Indonesia is available.PLN support through the provision of electricity infrastructure through public electric vehicle charging stations (SPKLU), general electric vehicle battery exchange stations (SPBKLU) and Home Charging Stations. Until May 2022, PLN has provided 90 SPBKLU units to make it easier for electric motorbike owners to charge. Meanwhile for SPKLU, PLN has presented 129 SPKLU units consisting of SPKLU Fast Charging and Ultra Fast Charging spread over 98 points."This year, PLN has allocated funds to add 40 SPKLU units to make it easier for people to fill their electric vehicles," concluded Darmawan. (RZ)Source: https://www.esdm.go.id/id/media-center/arsip-berita/komitmen-ekosistem-kendaraan-bermotor-listrik-berbasis-baterai-terus-diperkuat

Kobexindo Tractors to pay cash dividends of USD 1.43 million
Kobexindo Tractors to pay cash dividends of USD 1.43 million
23 Jun 2022, 01:29 PM 5456

PT Kobexindo Tractors Tbk (KOBX), a heavy equipment distributor and service management, announces its plan to distribute cash dividends of USD 1.43 million or equivalent to IDR 20.45 billion.Said plan had been approved during the Annual General Shareholders Meeting of KOBX, which took place earlier last week. The shareholders who were present at said meeting gave their consent regarding the allocation of 10.6% of the 2021 net profit as cash dividends. Then, another USD 27,685 will be stored as reserve funds, while the rest of it is being added to its retained earnings.The cash dividend will be channelled out to shareholders of KOBX whose names have entered the official list by June 27, 2022, the recording fate. Then, each share will be granted IDR 9 in return as dividend, which will be sent out on July 12, 2022.According to idnfinancials.com data, KOBX recorded a net profit of USD 13.52 million in the fiscal year 2021. The company also managed to keep its retained earnings of USD 2.62 million at the end of the year, while posting total equity of USD 25.44 million.At the end of the first quarter of 2022, KOBX scored revenue of USD 46.52 million and net profit of USD 3.96 million. Most of revenue in Q1 2022 came from the heavy equipment sales, which contributed 81.99% to the total revenue. Then, the spare part sales backed it up with 10.24% contribution, followed by the repair and mining contractor service of 4.52%, and lease sales of 3.25%.Source: https://www.idnfinancials.com/news/43459/kobexindo-tractors-pay-cash-dividends

China continues investment support in Indonesia's electric vehicle industry
China continues investment support in Indonesia's electric vehicle industry
21 Jun 2022, 02:54 PM 6680

China continues to expand its investment to support the development of Indonesia's electric vehicle industry. Contemporary Amperex Technology (CATL), one of the leading companies among the world's electric vehicle battery manufacturers and supplies to various automakers, including Tesla and Volkswagen, is one of the Chinese companies investing in this Southeast Asian country.A third-tier subsidiary of CATL, Ningbo Contemporary Brunp Lygend Co., Ltd. (CBL), recently signed a 5.97-billion-U.S. dollar investment deal with Indonesia Battery Corporation (IBC), a holding of state-owned companies including Mining Industry Indonesia (Mind ID), Aneka Tambang (Antam), Pertamina, and state power company PLN."The realization of this investment will bring the electric vehicle battery industry to Indonesia as well as position Indonesia as a global electric vehicle battery production base," President Director of IBC Toto Nugroho told Xinhua recently.IBC, inaugurated in March last year, was established to develop an integrated electric vehicle battery industry ecosystem, from upstream to downstream, to mining and nickel extraction. With China investors as global players in the development of electric vehicle batteries and Indonesia's rich reserve of battery-making raw materials like nickel, Nugroho believes that the cooperation between the two countries will synergize and strengthen each other.Indonesia is estimated to have deposits of at least 72 million tons of nickel reserves in areas of domestic mining operations, accounting for 52 percent of the world's total reserves of around 139 million tons, according to data from the country's Ministry of Energy and Mineral Resources. Nugroho believes that the cooperation between the two countries will support Indonesia's serious intention to reduce greenhouse gas emissions and increase the use of renewable energy."Besides CATL, many other Chinese companies are now investing in electric battery development in Indonesia. China is one of Indonesia's significant investment partners, we hope this cooperation will continue to increase and cover wider fields, including the development of electric vehicles and renewable energy," he said.As the country with the most consumers in Southeast Asia and supported by the world's largest nickel reserves, Indonesia has a bright opportunity to become a major player in the global electric vehicle sector, said Chairman of the Association of Indonesian Automotive Industries (GAIKINDO) Yohannes Nangoi."Moreover, more people will switch to electric vehicles in the future as fossil fuels damage our environment and cannot be renewed," Nangoi added. Currently, the use of electric vehicles is limited within cities and for short trips. In the future, with increasingly developed technology, electric vehicles will be used for longer distances and various types of vehicles, including trucks transporting commodities between provinces or islands.The problem is that electric vehicles currently are more expensive than conventional ones, but Nugroho believes this will be solved if the batteries meet three conditions: charging quickly, storing more power, and being cheaper. "It is just a matter of time, as to how fast the experts or mechanics can achieve these three main things," he said.The support of leading Chinese companies in this field will help Indonesia achieve the goal. "Those Chinese companies dare to invest in large amounts in Indonesia. Cooperation between the two countries has great prospects," Nangoi added. EnditemSource: http://www.china.org.cn/world/Off_the_Wire/2022-06/21/content_78282384.htm

Australian Tesla-Supplier Targets First Lithium Shipment
Australian Tesla-Supplier Targets First Lithium Shipment
21 Jun 2022, 12:45 PM 5426

A lithium miner in Australia that counts Tesla Inc. as a future customer said its first shipment of the key battery material from its flagship project is expected by the end of the year.Adelaide-based Core Lithium Ltd. said its Finniss project near Darwin is “progressing well” and the mining has accelerated “with the arrival of the dry season and the commissioning of an additional excavator and trucks to site,” according to a statement on Tuesday. The project is set to supply spodumene concentrate  -- a lithium bearing material -- to companies including Tesla, China’s Ganfeng Lithium Co. and Sichuan Yahua Industrial Group Co. In March, Core Lithium said the project will provide up to 110,000 tons of spodumene concentrate to Tesla over four years. The EV giant has been locking in offtake agreements with existing lithium miners including another Australian company, Liontown Resources Ltd., which said earlier this month it expects to start shipments to Tesla from 2024.Consumers Are Racking Up Rewards in Japan by Buying Green Crowds Flock to Yellowstone as Park Reopens After Floods Biodiversity Loss May Push Developing World Closer to Default Prices of lithium, the ingredient that’s crucial to power electric cars, had an eye-popping rally of almost 500% in the past year, boosting miners’ profits. However, automakers feeling the pain from escalating costs across raw materials have started to raise sticker prices for their EVs.Core Lithium said the early-stage mining operations at the Finniss project were impacted by higher rainfall and an extended wet season, resulting in a temporary increase in fuel consumption and postponements to open-pit mining. The year-end target is also subject to the ramp-up, and the site avoiding more virus or weather-related delays, the statement wrote. Core Lithium’s shares fell 6.5% in Sydney on Tuesday, trimming a gain of over 300% so far this year.Source: https://www.bloomberg.com/news/articles/2022-06-21/australian-tesla-supplier-eyes-first-lithium-exports-by-year-end#xj4y7vzkg

There is an Export Opportunity to Germany, Golden Energy Mines (GEMS) Study the Possible Markets
There is an Export Opportunity to Germany, Golden Energy Mines (GEMS) Study the Possible Markets
21 Jun 2022, 11:22 AM 6390

The opportunity for coal demand from European countries does not necessarily make PT Golden Energy Mines Tbk rush to try the blue continent market. Currently, the issuer of coal stock coded GEMS is still studying the European market.GEMS Corporate Secretary, Sudin Sudiman said, so far GEMS does not have a sales contract to Europe"We are open to any market share as long as the price and goods match," said Sudin to Kontan.co.id (21/6). Taking a peek at the company's latest financial reports and public expose material, GEMS' export sales have not targeted the European market, at least in the last 3 years.The majority of GEMS sales are generally targeted at the Chinese and Indonesian markets, while the rest target other destinations such as India, the Philippines, and others. Recently, the prospect of coal demand to Europe has become more promising following the war between Russia and Ukraine which caused gas supplies to Europe, including Germany, to start running low.Germany has even conveyed the need for coal imports of around 5 million - 6 million tons from Indonesia. Kontan.co.id noted, the Director of Coal Business Guidance at the Ministry of Energy and Mineral Resources (ESDM) revealed that the government had collected companies with coal quality that matched the specifications for German coal needs. The Indonesian Coal Mining Association (APBI) also claimed to have coordinated with the government regarding the demand for this coal supply."The Ministry of Energy and Mineral Resources and the Indonesian Embassy in Berlin are communicating with us," said APBI Executive Director Hendra Sinadia to Kontan.co.id (20/6).At the time of writing, GEMS has no plans to submit a revision to the company's Work Plan and Budget (RKAB) this year. The GEMS consolidated coal production plan is still the same, which is around 40 million tons with a realistic target of around 36 million tons. "In the first quarter of 2022, the realization of production is around 9 million tons," said the Sub-Department.Source: https://industri.kontan.co.id/news/ada-peluang-ekspor-ke-jerman-golden-energy-mines-gems-pelajari-kemungkinan-pasar

AGMS, PT Vale's Board of Directors Changes
AGMS, PT Vale's Board of Directors Changes
21 Jun 2022, 10:10 AM 6488

PT Vale Indonesia Tbk (PT Vale) has just held its Annual General Meeting of Shareholders (AGMS), Tuesday (21/6). The meeting was held electronically through the eASY.KSEI application provided by the Indonesian Central Securities Depository (KSEI), without the physical presence of the shareholders or their proxies. This is done based on the applicable laws and regulations.The results of the meeting stated that there were several changes in the board of directors and commissioners. This is in line with the resignation letters from Dani Widjaja as Director and Hendi Prio Santoso as Vice President Commissioner of the Company.“Earlier, there was a change in the board of directors. Pak Hendi was replaced by Pak Rachmat. From the commissioner's side, Mr. Nobuhiro Matsumoto was replaced by Mr. Yusuke Niwa. The GMS also approved the resignation of Mr. Widjaja," said Director of Vale, Bernandus Irmanto after the AGMS.Thus, the current composition of the Board of Directors is as follows:President Director : Febriany EddyVice President Director : Adriansyah ChaniagoDirector : Bernardus IrmantoDirector : Vinicius Mendes FerreiraMeanwhile, the composition of the Board of Commissioners is:President Commissioner : Deshnee NaidooVice President Commissioner : Muhammad Rachmat KaimuddinCommissioner : Luiz Fernando LandeiroCommissioner : Fabio FerrazKomisaris: Yusuke NiwaCommissioner : Dadan KusdianaCommissioner : Alexandre Silva D'AmbrosioIndependent Commissioner : Raden SukhyarIndependent Commissioner : RudiantaraIndependent Commissioner : Dwia Aries Tina PulubuhuThe company also, said Bernandus, will comply with the applicable regulatory requirements in relation to the change in the composition of the Company's Board of Directors and Board of Commissioners.At this AGMS, shareholders received the Company's Annual Report for the financial year ending 31 December 2021, including the report on the implementation of social and environmental responsibilities contained in the 2021 Sustainability Report as well as the implementation of supervisory duties from the Company's Board of Commissioners during the 2021 financial year.Furthermore, taking into account the need for capital expenditures for the 3 ongoing projects in Bahodopi, Pomalaa and Sorowako, as well as the Company's working capital in the years to come, the shareholders agreed that no dividends would be paid to shareholders for the financial year ended on 31 December 2021 taking into account the recommendations of the Board of Directors and the Board of Commissioners.Source: https://www.tambang.co.id/gelar-rupst-jajaran-direksi-pt-vale-alami-perubahan

Sumber Global Energy (SGER) Business Diversification into Nickel Sector
Sumber Global Energy (SGER) Business Diversification into Nickel Sector
21 Jun 2022, 09:45 AM 7536

PT Sumber Global Energy Tbk (SGER) has made efforts to diversify its business into the nickel metal sector. Although this year's nickel trading activity has been running, SGER management still sees that the coal segment still dominates this year's revenue.  President Director of Sumber Global Energy, Welly Thomas explained, his party diversified sales by starting nickel metal sales in the first quarter of 2022 through PT Sumber Mineral Global Abadi and will have a good sales growth impact for SGER. “Regarding the sale of nickel metal, this year the company is trying to start trading nickel in Sulawesi. In this 5th month, we have started shipping to the OSS and Virtue Dragon smelters," he explained in a virtual public expose, Tuesday (21/6).  Willy explained that after starting to diversify into nickel metal, SGER's sales composition will still be dominated by coal  trading .However, for this nickel business, Willy hopes that with his excellence and experience in trading he is confident that he can develop the nickel business well in the future.  “Even now, we are negotiating with three nickel mines to acquire the mines, so the company is very serious about developing nickel trading. If it is realized, then the investment could reach Rp 100 billion,” said Willy. In addition to expanding its business portfolio to nickel metal, SGER has also developed a waste to energy pilot project . It acquired PT Jabar Bersih Lestari, which is a Business Entity formed by a Consortium of Companies for the Provision of Regional Waste Processing and Final Processing Infrastructure (TPPAS) from the West Java Provincial Government, together with PT Jasa Sarana as a West Java Province-Owned Enterprise. The waste to energy project, said Welly, is a Government Business Entity Cooperation (PPP) project involving the West Java Provincial Government, Depok City Government, Bekasi Regency Government, and South Tangerang City Government, and from processing the waste, Refuse Derived Fuel (RDF) products will be produced. ) which can be used as alternative energy for combustion. "This RDF will be purchased by Indocement and we have signed the purchase agreement," he said.  Welly explained that currently the waste to energy project is in the stage of purchasing machines from Europe, especially from Germany. The developments in the field are currently in the cut and fill stage and preparations for waste collection are projected to be realized by the end of June 2022. “For the initial phase of this project, it is 720 tons per day, then in the second phase it will increase to 2,300 per day. The investment is around US$ 69 million,” he said.  Later, if the RDF project is successful, it will expand to other cities in Indonesia. Welly hopes that this effort can be a success story to turn waste into energy. Not only that, SGER is also in the stage of exploring renewable energy , namely developing hydrogen peroxide which is expected to be realized as soon as possible. Currently, Sumber Global Energy is still in the feasibility studies (FS) stage. "We think this project has great potential but it will take time for us to make a decision whether to continue or not," he said.Source: https://industri.kontan.co.id/news/sumber-global-energy-sger-diversifikasi-bisnis-ke-sektor-nikel

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