INCO Prepares Three Nickel Smelter Projects Worth IDR 138.3 Trillion

INCO Prepares Three Nickel Smelter Projects Worth IDR 138.3 Trillion

01 Dec 2025, 08:00 AM
After Acquiring a Gold Mine, UNTR Now Establishes a New Nickel Company
After Acquiring a Gold Mine, UNTR Now Establishes a New Nick...
03 Dec 2025, 04:15 AM
Bumi Resources (BUMI) Accelerates Diversification, Targeting 50% Non-Coal Revenue by 2031
Bumi Resources (BUMI) Accelerates Diversification, Targeting...
01 Dec 2025, 06:43 AM
Merdeka Gold (EMAS) Obtains USD 350 Million Loan to Fund Pani Gold Mine Project
Merdeka Gold (EMAS) Obtains USD 350 Million Loan to Fund Pan...
08 Dec 2025, 07:48 AM
Nickel and Steel Become the Main Contributors to the Trade Balance Surplus
Nickel and Steel Become the Main Contributors to the Trade B...
01 Dec 2025, 06:46 AM
Indonesia Justifies Bauxite Export Ban to Boost Domestic Smelter Industry
Indonesia Justifies Bauxite Export Ban to Boost Domestic Smelter Industry
15 Oct 2025, 01:37 PM 1229

Indonesia’s ban on bauxite exports is driven by the country’s growing need for aluminum and other processed products, Energy and Mineral Resources Minister Bahlil Lahadalia said on Wednesday.He explained that the government aims to attract billions of dollars in downstream mining investment to add value to the country’s mineral exports.“We still import many bauxite derivatives like aluminum. Domestic demand is higher than industrial capacity, so we need investors to build bauxite smelters here,” Bahlil said in Jakarta.According to the minister, Indonesia’s total bauxite smelting capacity currently stands at 17.5 million tons per year, far below domestic requirements.“Bauxite is one of the key commodities we’re prioritizing for downstream industrialization. That’s why we’ve banned its raw exports,” he added.The government has set a target of USD 8 billion in investments for downstream mineral and coal processing, with about USD 4 billion already realized as of August, Bahlil said.West Kalimantan, home to one of Indonesia’s largest bauxite reserves, remains underdeveloped in processing capacity. “Most of our bauxite reserves are in West Kalimantan, so smelters should be built there. Our domestic demand remains high, and half of it is still met through imports,” Bahlil noted.Indonesia officially banned bauxite ore exports in June 2023, following a 2020 law requiring all raw minerals to be processed domestically before export.The policy mirrors the earlier nickel export ban introduced in 2020, part of Indonesia’s broader “downstreaming” industrialization program now continued under President Prabowo Subianto.The export bans have reshaped global supply chains for key industrial metals. Indonesia, one of the world’s largest producers of nickel and bauxite, aims to move up the value chain by processing minerals into higher-value products such as batteries, electric vehicles, and aluminum. The strategy has drawn both investment and international scrutiny -- including a World Trade Organization (WTO) dispute with the European Union over nickel restrictions.

Arsari Tambang Acquires Canadian Mine Worth IDR 7 Trillion
Arsari Tambang Acquires Canadian Mine Worth IDR 7 Trillion
15 Oct 2025, 01:31 PM 891

President Director of Arsari Tambang, Aryo Djojohadikusumo, revealed the company’s major expansion plan to acquire a mining business in Canada. This strategic move was conveyed by Aryo at the Mineral and Coal (Minerba) Convex 2025 in Jakarta on Wednesday, October 15, 2025.“We are planning an expansion to acquire a mine in Canada,” Aryo said.He explained that the expansion plan is the result of cooperation between Indonesia, the European Union, and Canada under the Indonesia–European Union Comprehensive Economic Partnership Agreement (IEU-CEPA).According to him, the agreement opens significant opportunities for national companies to expand onto the global stage.“Thanks to President Prabowo’s efforts, overseas investment opportunities are now wide open. Indonesian companies can move up a level and become multinational corporations,” he continued.Even so, Aryo did not specify which mining sector will be pursued in Canada because negotiations are still ongoing. He only mentioned that the acquisition value is estimated to reach IDR 7 trillion.“We will announce it once the financial close is completed. The acquisition value is around IDR 7 trillion. At the latest, we aim to finalize it by June 2026,” he concluded.

IDR 176.95 Billion Allocated for ANTM's Mining Exploration
IDR 176.95 Billion Allocated for ANTM's Mining Exploration
13 Oct 2025, 02:06 PM 671

PT Aneka Tambang Tbk (ANTM) continues to demonstrate its commitment to sustainable mining operations with a focus on gold, nickel, and bauxite. As of September 2025, ANTM’s preliminary unaudited exploration spending totaled IDR 176.95 billion.For gold, ANTM carried out exploration at Pongkor, West Java, which through the end of Q3 2025 focused on drilling activities consisting of in-mine (underground) drilling and deep (surface) drilling.Meanwhile, nickel exploration through September 30, 2025 took place in North Konawe and Pomalaa, Southeast Sulawesi. “In addition, exploration activities were also conducted under Antam’s subsidiary IUP, PT Sumberdaya Arindo (PT SDA), in Buli, North Maluku,” wrote Aneka Tambang Corporate Secretary, Wisnu Danandi Haryanto, in a disclosure.Nickel exploration work in North Konawe included geological mapping, core sampling, core logging, grid measurement and re-measurement, installation of pre-drill and post-drill stakes, resistivity measurements, single-tube drilling, sample preparation, laboratory analysis, and supporting activities. In Pomalaa, activities included geological mapping, core sampling, single-tube drilling, as well as preparation and laboratory work. In Buli, PT SDA conducted core logging, measurements, stake installation, re-measurement, and drilling.Bauxite exploration through the end of September 2025 was carried out in Tayan, Landak, and Mempawah–Toho, West Kalimantan, with activities such as test-pit excavation, benchmark stake surveying and installation, and construction of test pits/wells.Through its Geomin Unit, ANTM conducts integrated mineral exploration covering area surveys, geological and geophysical exploration, drilling, testing, and the calculation of mineral resources and reserves, supported by a Geographic Information System (GIS). “Exploration activities are undertaken to ensure adequate potential of the company’s strategic mineral resources and reserves,” Wisnu concluded.

BUMI Acquires Australian Mine, Targets Gold Production Starting 2026
BUMI Acquires Australian Mine, Targets Gold Production Starting 2026
13 Oct 2025, 07:13 AM 2051

PT Bumi Resources Tbk (BUMI) has officially acquired a majority stake in the Australian mining company Wolfram Limited (WFL). This move marks a strategic expansion by the Bakrie Group issuer into the minerals sector, as part of its transformation into a multi-commodity mining company.Acquiring Nearly 100% of SharesBUMI has taken over 126,599,340 shares, equal to approximately 99.68% ownership in Wolfram Limited. The transaction value reached IDR 696.77 billion, equivalent to AUD 6.39 million, which was paid on October 7, 2025.According to BUMI Director R.A. Sri Dharmayanti, this transaction is part of a plan to acquire 100% of Wolfram’s shares. The remaining 0.32% will be purchased at the end of October 2025 for an additional IDR 2.2 billion.“As a result, by November 2025, BUMI will become the holder of 100% of WFL’s shares with a total transaction value of IDR 698.98 billion, equivalent to AUD 6.35 million,” wrote Sri Dharmayanti in a disclosure on Wednesday, October 8, 2025.Gold Production Target Starting June 2026BUMI Advisor Christopher Fong stated that Wolfram’s mine will begin producing gold in June 2026. Within 12 months of the start of production, output is targeted to reach 75,000 to 100,000 troy ounces of gold per year.“BUMI shareholders will see positive financial results within one year after production in Australia begins,” he said on Thursday, October 9, 2025.Toward Commodity DiversificationThe Wolfram acquisition is BUMI’s first step to reduce dependence on coal and expand its portfolio into non-coal commodities.Fong indicated that BUMI will not stop with the Wolfram acquisition alone. Within the next six to twelve months, the company is expected to announce additional non-coal asset acquisitions in Indonesia or Australia.“We are in the process of transforming BUMI into an integrated, multi-commodity mining company,” he added.ConclusionThrough this strategic acquisition, BUMI is not only expanding its operational footprint geographically, but also strengthening its business fundamentals in the midst of shifting energy trends and more diverse global commodity demand.

Aneka Tambang (ANTM) Reports Exploration Outcomes After IDR 176.95 Billion Investment in Gold and Ba...
Aneka Tambang (ANTM) Reports Exploration Outcomes After IDR 176.95 Billion Investment in Gold and Ba...
11 Oct 2025, 05:53 AM 1300

PT Aneka Tambang Tbk. (ANTM), or Antam, reported its gold, nickel, and bauxite exploration results for the third quarter of 2025.For exploration across the three commodities, the company incurred unaudited expenditures of IDR 176.95 billion.“This exploration activity is carried out to ensure sufficient potential of the company’s strategic mineral resources and reserves,” Antam’s management wrote in an information disclosure on Saturday (October 11, 2025).For gold, exploration continues at Pongkor, West Java, focusing on drilling that includes in-mine drilling (underground) and deep drilling (surface).For nickel, exploration activities were conducted in North Konawe and Pomalaa, Southeast Sulawesi. Exploration was also carried out at the mining business license (IUP) area of Antam’s subsidiary PT Sumberdaya Arindo (PT SDA) in Buli, North Maluku.Management explained that activities in North Konawe included geological mapping, core sampling, core logging, grid measurement and re-measurement, installation of pre-drill and post-drill stakes, resistivity surveys, single-tube drilling, sample preparation, laboratory analysis, and support activities.In Pomalaa, activities included geological mapping, core sampling, core logging, grid measurement and re-measurement, installation of survey stakes, single-tube drilling, as well as preparation and laboratory work.Meanwhile, in Buli by PT SDA, activities included core logging, measurement and installation of Benchmark (BM) stakes, installation of survey stakes, re-measurement, and drilling.Bauxite exploration was also carried out in Tayan, Landak, and Mempawah–Toho, West Kalimantan.In Tayan, exploration comprised test-pit excavation, measurement and installation of BM stakes, measurement of test-pit grid lines, and construction of trial pits.In Landak, activities included land identification, geological mapping, trial-pit excavation, measurement with installation of BM stakes, and measurement of test-pit grid lines.Lastly, in Mempawah–Toho, activities included land identification, geological mapping, trial-pit sampling, measurement of polygon grids/lines, and construction of trial pits.Antam’s mineral exploration, conducted through the Geomin Unit, is carried out with integrity and encompasses area surveys, geological exploration, geophysical exploration, geodetic surveys, drilling, physical and chemical analytical testing, as well as mineral resource and reserve estimation, all supported by an integrated Geographic Information System (GIS).

Signed by Prabowo: Key Points of the Latest Mining Government Regulation
Signed by Prabowo: Key Points of the Latest Mining Government Regulation
09 Oct 2025, 02:12 AM 1337

President of the Republic of Indonesia,Prabowo Subianto, has officially signed a new regulation in the mineral and coal mining (minerba) sector. The regulation is stipulated in Government Regulation (PP) Number 39 of 2025 concerning the Second Amendment to Government Regulation Number 96 of 2021 on the Implementation of Mineral and Coal Mining Business Activities.This new regulation was enacted and came into effect on September 11, 2025. The regulation introduces several significant changes in the management of the national mineral and coal resources.In PP No. 39 of 2025, the first amendment concerns the granting of Mining Business License Areas (WIUP) for metal minerals and coal, which can now be carried out through auctions and prioritized allocation.Priority allocation is now aimed at:a. Cooperatives, small and medium enterprises (SMEs), or businesses owned by religious mass organizations.b. State-owned enterprises (BUMN), regional-owned enterprises (BUMD), or private businesses for the purpose of expanding access to higher education and strengthening the autonomy and excellence of universities.c. BUMN and private businesses for value-add/downstreaming purposes.The minister sets out a plan for awarding metallic mineral and coal WIUP on a priority basis that must include at least:a. WIUP locationb. WIUP area sizec. Commodity typeMeanwhile, WIUP for non-metallic minerals, certain types of non-metallic minerals, and rocks are obtained by submitting an area application.This is set out in Article 17 of PP No. 39 of 2025.Meanwhile, under the previous regulation, it was only stated that WIUPs for metal minerals and coal were obtained through an auction process. In the previous regulation, there was no provision for priority allocation of WIUPs.As for WIUPs for non-metal minerals, specific types of non-metal minerals, and rocks, these are obtained by submitting a territorial application. This means there is no change in this regard.WIUP Area Limits for Cooperatives and SMEsPP No. 39 of 2025 inserts a new provision on the maximum WIUP area for metallic minerals and coal for cooperatives and SMEs, mass organizations, BUMN–BUMD, and private entities collaborating with universities. This is set out in Article 26F.Article 26F (1):(1) The maximum WIUP area for metallic minerals or coal for cooperatives and SMEs is:a. up to 2,500 hectares for metallic mineral WIUP; orb. up to 2,500 hectares for coal WIUP.Article 26F (2):(2) The maximum WIUP area for metallic minerals or coal for businesses owned by religious mass organizations is:a. up to 25,000 hectares for metallic mineral WIUP; orb. up to 15,000 hectares for coal WIUP.Article 26F (3):(3) The maximum WIUP area for metallic minerals or coal for BUMN, BUMD, and private businesses collaborating with universities is:a. up to 25,000 hectares for metallic mineral WIUP; orb. up to 15,000 hectares for coal WIUP.Article 26F (4):(4) The maximum WIUP area for metallic minerals or coal for BUMN and private businesses for value-add/downstreaming is:a. up to 25,000 hectares for metallic mineral WIUP; orb. up to 15,000 hectares for coal WIUP.Applies to WIUPKThe same provision also applies to Special Mining Business License Areas (WIUPK). In this new regulation, seven new articles are inserted between Articles 75 and 76. One of them concerns the priority allocation of WIUPK for metal minerals or coal by the Minister.The area size of WIUPK for metal minerals and coal granted on a priority basis to cooperatives, small and medium enterprises (SMEs), community organizations (Ormas), state-owned enterprises (BUMN), regional-owned enterprises (BUMD), and private business entities in cooperation with universities is regulated under Article 75F. The content reads as follows::(1) The maximum WIUPK area for metallic minerals or coal for cooperatives and SMEs is:a. up to 2,500 hectares for metallic mineral WIUPK; orb. up to 2,500 hectares for coal WIUPK.(2) The maximum WIUPK area for metallic minerals or coal for businesses owned by religious mass organizations is:a. up to 25,000 hectares for metallic mineral WIUPK; orb. up to 15,000 hectares for coal WIUPK.(3) The maximum WIUPK area for metallic minerals or coal for BUMN, BUMD, and private businesses collaborating with universities is:a. up to 25,000 hectares for metallic mineral WIUPK; orb. up to 15,000 hectares for coal WIUPK.In addition, two articles, Article 91A and Article 91,  are inserted between Articles 91 and 92, reading as follows:Article 91ABUMN, BUMD, cooperatives, or businesses receiving priority WIUPK as referred to in Article 75(2) must submit IUPK applications to the Minister through the OSS System managed by the central government in accordance with the applicable laws and regulations.Article 91BIUPK applications as referred to in Article 91A are as follows:a. BUMN, BUMD, or private businesses receiving priority metallic mineral or coal WIUPK must meet the requirements under the laws and regulations on risk-based business licensing.b. Cooperatives must apply for IUPK issuance by fulfilling the following requirements:1. Administrative:a) application letter;b) Business Identification Number (NIB) covering mining activities in metallic minerals or coal;c) cooperative management structure;d) list of cooperative members;2. Technical:a) list of mining personnel; andb) statement from the cooperative’s management on having experienced mining and/or geology experts;3. Environmental: a statement of willingness to comply with environmental protection and management laws and regulations; and4. Financial:a) proof of placing a performance bond for exploration activities;b) proof of payment of data information compensation; andc) a tax clearance letter in accordance with tax regulations.c. SMEs must apply for IUPK issuance by fulfilling the following requirements:1. Administrative:a) application letter;b) NIB covering mining activities in metallic minerals or coal;c) management structure; andd) list of shareholders and beneficial owners;2. Technical:a) list of mining personnel; andb) statement from management on having experienced mining and/or geology experts;3. Environmental: a statement of willingness to comply with environmental protection and management laws and regulations; and4. Financial:a) proof of placing a performance bond for exploration activities;b) proof of payment of data information compensation; andc) a tax clearance letter in accordance with tax regulations.Radioactive MineralsPP No. 39 of 2025 also regulates the undertaking and utilization of radioactive minerals, as set out in the amended Article 18, which reads:(1) The undertaking and utilization of radioactive minerals shall be carried out for radioactive minerals obtained from:a. Radioactive mineral WIUP; orb. Radioactive by-products from processing and/or refining.(2) Radioactive minerals originating from radioactive by-products of processing and/or refining as referred to in paragraph (1)(b) may be used as a new energy source.(3) Further provisions on the use of radioactive minerals as a new energy source as referred to in paragraph (2) shall be regulated in a Ministerial Regulation.Under the previous regulation, it only stated: “The undertaking and utilization of radioactive minerals within a radioactive mineral WIUP shall be carried out in accordance with the laws and regulations.”Rare Earth ElementsPP No. 39 of 2025 also adds a new provision on the utilization of rare earth commodities, set out in Article 18A. These commodities are prioritized for the development of priority industries domestically. Further provisions will be set out in a Ministerial Regulation.The full text of Article 18A:(1) The undertaking and utilization of rare earth commodities are derived from:a. Metallic mineral WIUP as referred to in Article 17(1)(b); orb. By-products of processing and/or refining of metallic minerals.(2) Rare earth commodities as referred to in paragraph (1) are prioritized for the development of priority industries domestically.(3) Further provisions on the utilization of rare earth commodities for priority industries domestically as referred to in paragraph (2) shall be regulated in a Ministerial Regulation.

Petrosea Expands EPC Footprint to Pakistan with USD 26 Million Mining Project
Petrosea Expands EPC Footprint to Pakistan with USD 26 Million Mining Project
08 Oct 2025, 04:54 AM 854

Indonesian engineering and mining services company Petrosea (PTRO) has signed an initial implementation agreement with Reko Diq Mining Company, marking its first engineering, procurement, and construction (EPC) venture in Pakistan.Under the Limited Notice to Proceed, Petrosea and its wholly owned subsidiary Petrosea Solutions Pakistan will provide EPC services for the Reko Diq gold and copper mining project, one of the world’s largest of its kind located in Balochistan, Pakistan.The USD 26.2 million (approximately IDR 432 billion) contract covers the construction of concrete foundations for the dry plant, wet plant, and non-process infrastructure, along with detailed earthworks. The project is expected to run for about ten months.“The signing of this agreement represents Petrosea’s business expansion and the development of our EPC services beyond Indonesia, supporting diversified and sustainable growth,” said Michael Kurniawan, President Director of Petrosea, in a statement on Wednesday.Petrosea, which has operated for more than five decades, offers integrated services across the mining and energy value chain, from EPC and offshore engineering to logistics. The company recently diversified its portfolio through Hafar Group, focusing on offshore EPCI services in the non-coal sector.

PT Stargate Pacific Resources Opens Tender for Nickel Mining Services
PT Stargate Pacific Resources Opens Tender for Nickel Mining Services
08 Oct 2025, 04:44 AM 973

PT Stargate Pasific Resources (“PT SPR”) announced the opening of a prequalification invitation for nickel mining service work. To meet its nickel mining production targets, PT Stargate Pasific Resources (“PT SPR”) hereby invites local and national nickel mining service companies interested in partnering with PT SPR to register for the Tender, with the project overview as follows (hereinafter referred to as the “Tender”).A. Project Name: Nickel Mining Services Cooperation TenderB. Scope of Work:1. Types of Work:1. Waste Removal (land clearing, removal of topsoil, excavation, and hauling of waste material);2. Ore Getting (excavation and loading of nickel ore—limonite and saprolite);3. Ore Handling (loading and hauling nickel ore from the stockpile to barges/barging);4. Quarry Mining;5. Haul Road Maintenance;6. Other supporting mining activities.2. Work Location: Lameruru, Molore, and Molore Pantai Villages, Langgikima District, North Konawe Regency, Southeast Sulawesi Province.1. Waste Removal (land clearing, removal of topsoil, excavation, and hauling of waste material);2.Ore Getting (excavation and loading of nickel ore—limonite and saprolite);3. Ore Handling (loading and hauling nickel ore from the stockpile to barges/barging);4. Quarry Mining;5. Haul Road Maintenance;6. Other supporting mining activities.3. Work Period:C. Work Period: January 2025 – January 2030Tender Registration: No later than 20 days.D. General Requirements:1. Possess a valid Mining Services Business License (IUJP) with sub-categories covering the Types of Work listed in point B.1 above.2. Have a solid track record in nickel mining service projects in North Konawe Regency, Southeast Sulawesi (“Work Location”).3. Have sufficient heavy equipment units and personnel that meet the standards and qualifications set by PT SPR.4. Willing and ready to commence mining service work at the Location.5. Work to commence in January 2026.6. Consistently fulfill—and have a good record of fulfilling—compliance obligations in nickel mining, including but not limited to reporting, permitting, operational and mining safety, environmental protection, community empowerment and social responsibility, as well as other obligations stipulated by applicable laws and regulations.The tender registration is open for 20 days from the date of announcement. Interested companies may send a stamped letter of interest along with a complete company profile by email to Mr. Wahyu Indra at wahyuindra@aspire.id and Ms. Frieschika Atshiilah at frieschika.atshiilah@aspire.id.For companies that register in accordance with the requirements, SPR will provide the tender documents to be reviewed and completed before submitting an official proposal.Proposals submitted will be evaluated in line with the company’s requirements and needs. SPR aims for this tender process to result in a partner capable of supporting the sustainable operation of the nickel mine in North Konawe.

Merdeka Gold’s Gold Ore Reserves at Pani Mine Increase by 4.8 Million Ounces
Merdeka Gold’s Gold Ore Reserves at Pani Mine Increase by 4.8 Million Ounces
07 Oct 2025, 06:35 AM 1040

PT Merdeka Gold Resources Tbk (“MGR” or “EMAS”) today announced an increase in the Gold Ore Reserve for the Pani Gold Mine in Pohuwato Regency, Gorontalo Province.Based on the latest technical study, the Pani Gold Mine’s Gold Ore Reserve has risen to 4.8 million ounces, 150% higher than the previous 1.9 million ounces, drawn from a Mineral Resource of over 7 million ounces, making it one of the largest primary gold deposits in Indonesia.As previously announced, the Pani Gold Mine commenced mining operations on October 1, 2025 and is targeting first gold production in the first quarter of 2026, with potential peak output of up to 500,000 ounces per year by 2032.“This reserve update underscores the long-term prospects of the Pani Gold Mine. We are confident this achievement will strengthen the company’s growth foundation and deliver added value to all stakeholders,” said Boyke Abidin, President Director of PT Merdeka Gold Resources Tbk.With the increase in gold ore reserves, EMAS reaffirms its commitment to Good Mining Practices, sustainability, and delivering a positive contribution to the national economy. This commitment aligns with the strategy of parent company MDKA, which, through all of its subsidiaries, continues to prioritize high Environmental, Social, and Governance (ESG) standards across every mining operation.

Cokal Completes Trial Coal Shipments to Indonesia
Cokal Completes Trial Coal Shipments to Indonesia
07 Oct 2025, 06:21 AM 746

Cokal Limited (CKA), an Australian listed company aiming to become a global metallurgical coal producer, has announced the completion of commercial trial coal shipment sales to PT Dexin Steel Indonesia and PT Detian Coking Indonesia. This marks the company’s first sales since May 2025, signalling a positive shift after a prolonged period of weak market conditions. Cokal has interests in four projects in Central Kalimantan, Indonesia considered prospective for metallurgical coal.The transactions were structured and facilitated by M Resources, leveraging their extensive market reach to secure favourable benchmark-linked pricing for Cokal. While pricing did not achieve full parity, the company considers this a constructive step in broadening domestic sales channels. M Resources’ senior team is collaborating closely with offtake partner INTCO to actively market BBM’s coal and drive long-term value creation for Cokal.The trial shipments also reflect early signs of improvement in overall market conditions. Cokal is currently engaged in advanced discussions for additional sales targeted for delivery in the fourth quarter. These anticipated sales are expected to further strengthen the company’s sales momentum. Domenic Martino, Non-Executive Chairman, authorised the release of this ASX announcement.

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