Coal Prices Surge Close to USD 140, China and India Scramble for Supply

Coal Prices Surge Close to USD 140, China and India Scramble for Supply

27 May 2026, 18:39 PM
Tsingshan Cuts Nickel Production at Weda Bay for Aluminium
Tsingshan Cuts Nickel Production at Weda Bay for Aluminium
19 May 2026, 18:51 PM
BUMA International (DOID) Records IDR 5.4 Trillion Revenue in Q1 2026
BUMA International (DOID) Records IDR 5.4 Trillion Revenue i...
01 Jun 2026, 18:53 PM
MDKA Begins 3,600-Meter Deep Drilling at Pani Gold Mine, Targeting Additional Resources
MDKA Begins 3,600-Meter Deep Drilling at Pani Gold Mine, Tar...
02 Jun 2026, 13:28 PM
Harita Nickel Records IDR 6.81 Trillion Revenue in Q1 2026
Harita Nickel Records IDR 6.81 Trillion Revenue in Q1 2026
29 May 2026, 13:36 PM
AMMAN Records Zero Fatalities Throughout 2025
AMMAN Records Zero Fatalities Throughout 2025
30 Dec 2025, 04:48 PM 918

PT Amman Mineral Nusa Tenggara (AMMAN) closed 2025 with a Zero Fatality achievement.Zero Fatality means AMMAN went through 2025 without any work accidents at its sites that resulted in death.“In a mining industry where safety and health risks are ever-present, AMMAN manages hazards systematically through an OHS management system embedded in daily operations—covering procedural compliance, regular audits, and real-time monitoring so potential hazards are addressed before they become incidents,” AMMAN wrote in an official statement on Tuesday (30/12/2025).These practices are aligned with Good Mining Practice and Indonesia’s SMKP, referring to Law No. 4 of 2009 and Minister of Energy and Mineral Resources Regulation No. 26 of 2018.To achieve zero fatality throughout 2025, one of Indonesia’s largest copper and gold mining companies enforces eight non-negotiable guiding rules.These eight principles are a crucial moral compass for every AMMAN employee in the mining area.Broadly, the eight safety principles govern fundamental behaviors—from competency and permit requirements before operating equipment, the prohibition of unauthorized modifications to safety devices, to strict discipline in energy isolation procedures.The rules also emphasize technical aspects such as working safely at heights, in confined spaces, and proper lifting procedures.Everyday matters often taken lightly—like wearing a seatbelt and the ban on using mobile phones while operating vehicles—are also part of these safety principles.This year’s Zero Fatality milestone is also attributed to various campaigns the company ran throughout the year.These included “Safety Stand Down” (a brief operational pause for safety reflection), the conferral of “Safety Awards,” and joint inspections with leadership.“AMMAN wants to ensure that safety messages are not just displayed on posters, but pulse with every heartbeat of its workers. This approach reflects the company’s stance as a safe workplace, where cutting-edge technology synergizes with human conscience to create sustainability,” AMMAN stated.Not only employees, AMMAN’s business partners are also actively involved and measured against the same key indicators as the company.Practices such as safety interactions, safety inspections, and safety meetings are likewise carried out by AMMAN’s partners.Regular evaluations are implemented to ensure consistent OHS management, including for partners’ Operations Accountable Persons.“The Zero Fatality achievement in 2025 affirms that large-scale operations can run in harmony with safety as the top priority—for the sake of workers, families, and the Batu Hijau community,” AMMAN wrote.

PP Presisi Secures Three New Contracts Worth IDR 1.2 Trillion
PP Presisi Secures Three New Contracts Worth IDR 1.2 Trillion
29 Dec 2025, 04:46 PM 1011

PT PP Presisi Tbk (PPRE) secured three new contracts worth a total of around IDR 1.2 trillion at the end of 2025. The company said the contracts come from mining services and construction projects spread across Halmahera, Aceh, and East Kalimantan, strengthening its sector portfolio ahead of the fiscal year-end.PPRE explained that the first contract is a mining services project in Halmahera valued at IDR 602 billion. This work is an add-on to an ongoing project. The second contract is for the construction of the Jantho–Keumala National Road Section 3 in Aceh worth around IDR 252 billion. Meanwhile, the third contract—executed through a subsidiary—is for building a coal processing plant and an overland conveyor system in East Kalimantan, valued at approximately IDR 335 billion.President Director of PT PP Presisi Tbk, Rizki Dianugrah, said the additional contracts reflect the confidence of both existing project owners and new clients in the company’s capabilities.“The award of three new contracts toward year-end is proof of trust from existing project owners and new owners in PPRE. This achievement aligns with our vision to become a leading mining services and construction company in Indonesia. With strong resources, a robust heavy-equipment fleet, and high standards of OHS and environmental governance, we are confident we can complete projects on time with excellent quality,” Rizki said in an official statement in Jakarta, Monday (29/12/2025).Management believes that mining services and construction projects remain the main pillars supporting the company’s marketing performance. The additional contracts also strengthen PPRE’s position as an operational service partner for mining industry players and national infrastructure development.The company noted that the continuity of the mining services contract in Halmahera demonstrates a long-term relationship with the project owner. Meanwhile, the national road project in Aceh is in line with the government’s program to strengthen regional connectivity. The coal processing plant and overland conveyor project in East Kalimantan increases PPRE’s exposure to the coal mining sector through the development of production-supporting facilities.PPRE stated it will continue to prioritize occupational safety, environmental stewardship, and governance practices in line with ESG principles during project execution. With the additional IDR 1.2 trillion in contracts, PPRE closes 2025 with improved consolidated marketing performance. The company reaffirmed its commitment to delivering integrated solutions in the mining and construction sectors while maintaining project quality in accordance with targets agreed with project owners.

Mining Companies Poised to Accelerate Asset Acquisitions in 2026
Mining Companies Poised to Accelerate Asset Acquisitions in 2026
29 Dec 2025, 02:31 AM 2803

Inorganic expansion via mining acquisitions looks set to be a popular route for mining issuers in 2026.Several issuers have already announced plans to acquire additional mining assets. PT Aneka Tambang Tbk (ANTM), for example, is exploring gold-mine acquisitions through two schemes: government assignment or purchasing minority stakes in joint ventures so they can be consolidated.Beyond Indonesia, ANTM has also set its sights on assets overseas, including in the Middle East and Kazakhstan.PT Darma Henwa Tbk (DEWA) is likewise exploring opportunities to acquire mines, though details have yet to be disclosed. Management says DEWA is conducting studies and assessing risk mitigation for the plan.Meanwhile, PT J Resources Asia Pasifik Tbk (PSAB) has decided to extend the deadline for its planned acquisition of PT J Resources Nusantara’s (JRN) shares in PT Arafura Surya Alam (ASA)—operator of the Doup Gold Mine—from PT Danusa Tambang Nusantara (DTN), a subsidiary of PT United Tractors Tbk (UNTR), moving it from December 23, 2025 to March 23, 2026.BRI Danareksa fundamental analyst Abida Massi Armand says acquisition activity is expected to intensify in 2026, especially for critical minerals and gold, in line with coal issuers diversifying to align portfolios with the global energy transition.Issuers are seen favoring acquisitions over greenfield exploration because they offer proven reserves, shorter time-to-market, and faster contribution to company cash flow.“The key advantages include eliminating geological exploration failure risk and easing asset integration into existing operational structures,” Abida said on Monday (Dec 29, 2025).Korea Investment & Sekuritas Indonesia (KISI) Head of Research Muhammad Wafi notes that by acquiring other mines, issuers can obtain new reserves instantly without navigating cumbersome permitting.Wafi also believes capex needs for issuers planning acquisitions will increase in 2026. However, this should not be an issue since companies ready to acquire typically have strong cash flows.Planned acquisitions will also spur some issuers to tap various funding sources, such as bank loans, bond issuance, and rights issues.“Liquidity isn’t the problem; the challenge lies in finding new assets available for purchase,” Wafi said, Monday (Dec 29, 2025).Abida adds that amid the acquisition trend, issuers must watch multidimensional risks, especially regulatory compliance—such as data accuracy in the three-year RKAB system and the complex legal aspects of transferring mining licenses (IUP). Implementing Environmental, Social, and Governance (ESG) standards is also crucial.“Additionally, commodity-price volatility due to potential global oversupply demands precise timing so that acquired assets still deliver optimal economic value for shareholders,” he stated.Abida’s recommendations for issuers planning acquisitions are generally positive, with a target price for ANTM at IDR 4,100 per share, supported by the strong outlook for the gold sector. Meanwhile, UNTR’s share price target is set at IDR 32,000.Separately, Wafi says investors can monitor UNTR, ANTM, PSAB, and DEWA, with respective target prices of IDR 32,000 per share, IDR 4,000 per share, IDR 720 per share, and IDr 700 per share.

PT Suprabakti Mandiri Delivers Record 51,539 Technoroll Products for TLS 6 & 7 Project
PT Suprabakti Mandiri Delivers Record 51,539 Technoroll Products for TLS 6 & 7 Project
19 Dec 2025, 07:49 AM 1558

PT Suprabakti Mandiri has set a new benchmark for Indonesia’s mining industry with the rapid delivery of 51,539 Technoroll idlers and 156 pulleys for PT Bukit Asam’s TLS 6 & 7 project. This achievement coincides with the inauguration of Graha Suprabakti the new factory office and celebrates the company’s 38th year of continuous growth, reflecting its commitment to innovation, efficiency, and expanded production capacity. Completed in just seven months from drawing approval, the delivery underscores Suprabakti’s ability to execute large-scale, high-specification projects under tight timelines.The project also included 100 belt cleaners from subsidiary Martin Supra Engineering and 16 belt scale units, providing an integrated conveyor system solution. From planning and material sourcing to production and delivery, every stage was carefully managed to meet the high standards required by PT Bukit Asam and its EPC partners, KSO PP, WIKA, and KMK.“Innovation has always been part of Suprabakti’s DNA,” said Jimmy Hadinata, Director of PT Suprabakti Mandiri. “From digital inspections to faster belt installations, we continuously develop solutions that improve efficiency and deliver results our customers can trust.”Suprabakti’s success is also fueled by technology, process improvements, and human resource development. The company’s Summa Learning Center, evolving into LSP Suprabakti, provides hands-on training for technicians, staff, and clients, ensuring consistent quality, safety, and technical excellence across all projects.Since its founding, PT Suprabakti Mandiri has expanded to 23 sites across Indonesia, including Sumatra, Java, Kalimantan, Sulawesi, and Papua. Its combination of technical expertise, operational efficiency, and commitment to innovation has made it a trusted partner for mining and industrial clients nationwide.“Our 38 years of success are the result of the dedication of our teams and the trust of our clients,” added Jimmy. “We remain committed to delivering solutions that support Indonesia’s mining sector and industrial growth while continuously innovating to improve efficiency and quality.”The TLS 6 & 7 project demonstrates Suprabakti’s ability to deliver high-specification products faster than industry standards, reinforcing its position as a leader in bulk material handling solutions in Indonesia.

BUMI Officially Acquires 64.98% Stake in Australian Gold Mining Company
BUMI Officially Acquires 64.98% Stake in Australian Gold Mining Company
19 Dec 2025, 01:47 AM 2333

PT Bumi Resources Tbk (BUMI) has officially acquired 5,734,770 shares of Jubilee Metals Limited (JML), equal to 64.98 percent. The transaction value reached IDR 346.93 billion, or the equivalent of AUD 31.47 million.The transaction was carried out on 18 December 2025.“The Company has subscribed to 3,312,632 new shares issued by JML, a company incorporated in Western Australia, with a transaction value of IDR 346,936,545,540 or the equivalent of AUD 31,470,004,” said BUMI Director R.A. Sri Dharmayanti in an IDX disclosure on Friday (19/12/2025).Sri explained that this transaction is a strategic step aligned with the Company’s transformation plan and is part of its business diversification program beyond the coal sector.“This transaction will have a positive impact on the Company’s business activities and deliver added value for the Company’s shareholders,” she said.For context, JML is known to own gold mines in North Queensland and Victoria. Operating since 2012, the company initially focused on the Croydon area in western Queensland.This area holds historical value in Australia’s mining world. Gold was first discovered there in 1885, and production once reached a record high of 1.9 million ounces.JML is determined to apply advanced technology to revive the historic mining areas that were once abandoned. Currently, mining is still at the exploration stage, with potential reserves of 2 million ounces.To acquire JML, BUMI allocated IDR 340.9 billion from bonds to pay for the Jubilee Metals acquisition. The bonds are only one source of funding for the acquisition. As of September 2025, BUMI had already acquired 41.36 percent of JML’s shares through a private placement, direct purchases, and a debt-to-equity swap.

Indonesia’s Coal Benchmark Price Rises Across the Board in the Second Half of December 2025
Indonesia’s Coal Benchmark Price Rises Across the Board in the Second Half of December 2025
17 Dec 2025, 05:58 AM 1722

Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia has set the Coal Benchmark Price (HBA) for the second period of December 2025.All four HBA categories for the second period of December 2025 were set higher than in the first period of December 2025.This decision is stipulated in Minister of ESDM Decree No. 420.K/MB.01/MEM.B/2025 on Reference Prices for Metallic Minerals and the Coal Benchmark Price for the Second Period of December 2025.Signed by Minister Bahlil Lahadalia on December 15, 2025, the decision also takes effect on December 15, 2025.Below are the HBA figures for the second period of December 2025:1. Coal (6,322 GAR): The coal price is set at USD 100.81 per ton, up from USD 98.26 per ton in the first period of December 2025. This HBA corresponds to a calorific value of 6,322 kcal/kg GAR, Total Moisture 12.26%, Total Sulphur 0.66%, and Ash 7.94%.2. Coal I (5,300 GAR): The coal price is set at USD 69.93 per ton, up from USD 67.99 per ton in the first period of December 2025. HBA I corresponds to a calorific value of 5,300 kcal/kg GAR, Total Moisture 21.32%, Total Sulphur 0.75%, and Ash 6.04%.3. Coal II (4,100 GAR): The coal price is set at USD 45.44 per ton, up from USD 44.37 per ton in the first period of December 2025. HBA II corresponds to a calorific value of 4,100 kcal/kg GAR, Total Moisture 35.73%, Total Sulphur 0.23%, and Ash 3.90%.4. Coal III (3,400 GAR): The coal price is set at USD 35.02 per ton, up from USD 34.15 per ton in the first period of December 2025. HBA III corresponds to a calorific value of 3,400 kcal/kg GAR, Total Moisture 44.30%, Total Sulphur 0.24%, and Ash 3.88%.

Three Downstreaming Projects Under Prabowo to Begin Construction in January 2026
Three Downstreaming Projects Under Prabowo to Begin Construction in January 2026
17 Dec 2025, 05:42 AM 4257

At least 5–6 downstreaming projects will break ground in early 2026. Construction is planned to proceed in stages starting January 2026. This was conveyed by the CEO of the Investment Management Agency (BPI) Danantara, Rosan Roeslani, when he met reporters at the Presidential Palace Complex on Wednesday (December 17, 2025).It is known that the government intends to build 18 downstreaming projects through the Investment Management Agency (BPI) Daya Anagatha Nusantara (Danantara). These projects range from processing plants for mineral commodities and chemicals to plantation-based products.“I also reported the month to the President earlier, but in early January we will do groundbreaking for 5–6 projects,” said Rosan.“First, there is a Smelter Grade Alumina Refinery and an aluminum smelter. Then a bio-aviation fuel refinery in Cilacap, and a bioethanol plant in Banyuwangi,” he said.Here are the details regarding the locations and investment values of the projects mentioned by Rosan:1. Aluminum (Bauxite) Smelter, Mempawah, West Kalimantan This project is an expansion of the processing plant operated by PT Indonesia Asahan Aluminium (Inalum), namely the Smelter Grade Alumina Refinery (SGAR) Phase 2 with a capacity of 1 million tons per year.The project requires an investment of IDR 60 trillion and is expected to create 14,700 jobs. The processing plant will have a capacity of 1 million tons of alumina per year. The project is targeted for completion in 2028.2. Bio-aviation Fuel Plant in Cilacap, Central Java PT Kilang Pertamina International (KPI) is completing Phase 2 of the Cilacap Green Refinery to reach the 100% bio-aviation fuel projection target. The project is projected to be operational in 2027 with a capacity of 6,000 barrels of Hydrotreated Vegetable Oil (HVO).This refinery processes vegetable oils into bio-aviation fuel. It has already successfully run trials at 9,000 barrels per day (BPD) for a 2.5% bio-aviation fuel blend.3. Bioethanol Plant in Banyuwangi, East Java This is a project by Pertamina NRE and PT Sinergi Gula Nusantara (SGN), a subsidiary of PTPN III. The processing plant will produce 30,000 kiloliters per year.The plant is projected to begin operating in 2026.18 Downstream Projects of the Prabowo EraAs is known, the government has launched 18 new downstreaming projects under Danantara. These include construction of processing plants for mineral commodities, chemicals, and plantation products. They are currently in the feasibility study stage. Some of the promoted projects include developing dimethyl ether (DME) to substitute imported LPG and building aluminum production.Total required investment is IDR 618 trillion, expected to absorb 270,000 workers. Project locations will also be outside Java to promote balanced development.The list of the 18 projects is as follows:1. Aluminum Smelter Industry (Bauxite) in Mempawah, West Kalimantan; investment IDR 60 trillion; potential 14,700 jobs.2. DME (coal) Industry in Bulungan, East Kutai, Kota Baru, Muara Enim, PALI, and Banyuasin; investment IDR 164 trillion; potential 34,800 jobs.3. Asphalt Industry in Buton, Southeast Sulawesi; investment IDR 1.49 trillion; potential 3,450 jobs.4. Manganese Sulfate Industry in Kupang, East Nusa Tenggara (NTT); investment IDR 3.05 trillion; potential 5,224 jobs.5. Stainless Steel Slab (Nickel) Industry in the Morowali Industrial Park, Central Sulawesi; investment IDR 38.4 trillion; potential 12,000 jobs.6. Copper Rod, Wire & Tube (copper cathode) Industry in Gresik, East Java; investment IDR 19.2 trillion; potential 9,700 jobs.7. Iron & Steel Industry (iron sands) in Sarmi Regency, Papua; investment IDR 19 trillion; potential 18,000 jobs.8. Chemical Grade Alumina (Bauxite) Industry in Kendawangan, West Kalimantan; investment IDR 17.3 trillion; potential 7,100 jobs.9. Oleoresin (Nutmeg) Industry in Fakfak Regency, West Papua; investment IDR 1.8 trillion; potential 1,850 jobs.10. Oleofood (Palm Oil) Industry in the Maloy Batuta Trans Kalimantan (MBTK) SEZ, East Kalimantan; investment IDR 3 trillion; potential 4,800 jobs.11. Nata de Coco, Medium-Chain Triglycerides (MCT), Coconut Flour, Activated Carbon (Coconut) Industry in the Tenayan Industrial Area, Riau; investment IDR 2.3 trillion; potential 22,100 jobs.12. Chlor-Alkali Plant (Salt) Industry in Aceh, East Kalimantan, East Java, South Sumatra, Riau, Banten, and NTT; investment IDR 16 trillion; potential 33,000 jobs.13. Tilapia Fillet Industry in Banten, West Java, Central Java, and East Java; investment IDR 1 trillion; potential 27,600 jobs.14. Carrageenan (Seaweed) Industry in Kupang, NTT; investment IDR 212 billion; potential 1,700 jobs.15. Oil Refineries in Lhokseumawe, Sibolga, Natuna, Cilegon, Sukabumi, Semarang, Surabaya, Sampang, Pontianak, Badung, Bima, Ende, Makassar, Donggala, Bitung, Ambon, North Halmahera, and Fakfak; investment IDR 160 trillion; potential 44,000 jobs.16. Oil Storage Tanks in Lhokseumawe, Sibolga, Natuna, Cilegon, Sukabumi, Semarang, Surabaya, Sampang, Pontianak, Badung, Bima, Ende, Makassar, Donggala, Bitung, Ambon, North Halmahera, and Fakfak; investment IDR 72 trillion; potential 6,960 jobs.17. Integrated Solar Module (Bauxite and Silica) Industry in the Batang Industrial Estate, Central Java; investment IDR 24 trillion; potential 19,500 jobs.18. Bio-aviation Fuel Industry (Used Cooking Oil) in KBN Marunda, the Cikarang Industrial Area, and the Karawang Industrial Area; investment IDR 16 trillion; potential 10,152 jobs.

ESDM Auctions 629,000 Tons of Bauxite Stockpile, Potential State Revenue Reaches IDR 200 Billion
ESDM Auctions 629,000 Tons of Bauxite Stockpile, Potential State Revenue Reaches IDR 200 Billion
16 Dec 2025, 04:59 AM 1329

The Ministry of Energy and Mineral Resources (ESDM), through the Directorate General of Law Enforcement (Ditjen Gakkum), is auctioning state-controlled goods in the form of a stockpile of more than 629,000 metric tons (MT) of bauxite in the Riau Islands.Director General of ESDM Law Enforcement Jeffri Huwae explained that the bauxite auction will contribute more than IDR 200 billion to state revenue.Bids are open from 16–22 December 2025 and this marks the first bauxite stockpile auction conducted by the ESDM Ministry.After the bidding period ends, the auction winner will be determined at the State Assets and Auction Service Office (KPKNL) in Batam.He stated that the auction follows the mandate of Article 199J of Government Regulation No. 39/2025 on the Implementation of Mineral and Coal Mining Business Activities.“If additional mineral stockpiles are found—whether bauxite, coal, nickel, or other commodities—law enforcement will be carried out by designating the goods as State-Controlled Assets to be auctioned. The proceeds will become non-tax state revenue (PNBP) for the ESDM sector,” Jeffri said in a written statement on Tuesday (16/12/2025).With a potential IDR 200 billion boost to revenue, Jeffri is optimistic that the 2025 PNBP target of IDR 254 trillion can be met.He claimed the auction provides legal certainty for state-controlled goods originating from residual mining business activities.Jeffri emphasized that the auction will not only strengthen the sector’s contribution to the economy, but also serves as a form of transparency and accountability in natural resource management.“The process is fair and open, so we invite all qualified parties to participate in this auction,” Jeffri said.He also noted that the auction is being conducted by ESDM’s Ditjen Gakkum together with the Directorate General of State Assets (DJKN), the DJKN Regional Office for Riau, West Sumatra, and the Riau Islands, as well as KPKNL Batam.As a note, Indonesia’s bauxite production has declined year after year. According to ESDM data, bauxite output in 2024 reached 16.8 million tons, down from 19.8 million tons in 2023 and 31.8 million tons in 2022.Meanwhile, ESDM reports that Indonesia currently has 14 integrated mineral smelter projects with a total investment value of USD 8.69 billion (around IDR 144.02 trillion), dominated by the bauxite segment.There are six integrated bauxite smelter projects underway with a combined investment of USD 2.18 billion.The Director General of Minerals and Coal (Minerba) at ESDM, Tri Winarno, previously said that seven bauxite smelters remain stalled, with construction progress below 60%.The six integrated refining facilities include: PT Dinamika Sejahtera Mandiri located in Sanggau, West Kalimantan; PT Laman Mining in Ketapang, West Kalimantan; and PT Kalbar Bumi Perkasa located in Sanggau, West Kalimantan.There are also PT Parenggean Makmur Sejahtera in East Kotawaringin, Central Kalimantan; PT Persada Pratama Cemerlang in Sanggau, West Kalimantan; PT Quality Sukses Sejahtera in Pontianak, West Kalimantan; and PT Sumber Bumi Marau in Ketapang, West Kalimantan.“Kalbar Bumi Perkasa has had its permit revoked,” he said in a meeting with Commission XII of the Indonesian House of Representatives (DPR RI) on Wednesday (30/4/2025).

Far East Gold Confirms and Extends High-Grade Gold Zones at Sua Prospect
Far East Gold Confirms and Extends High-Grade Gold Zones at Sua Prospect
14 Dec 2025, 07:28 AM 1290

Far East Gold Ltd (ASX:FEG) has confirmed and extended a high-grade gold zone at the Sua prospect within the Idenburg Contract of Work (CoW) in Papua, Indonesia, on the back of new assay results from drillholes KSD025 and KSD026.The two holes were drilled to follow up high-grade gold mineralisation reported in historical hole KSD008. Assays have now been received for four of the 10 holes completed by the company at Sua, with all 4 intersecting high-grade gold across multiple stacked quartz veins.KSD025 was drilled as a twin of historical hole KSD008, which returned 18.19 g/t gold over 6m from 106m, including 3m at 34.95 g/t gold from 106m. The new hole intersected several high-grade zones, including:▶3.16 g/t gold over 2m from 68m▶8.42 g/t gold over 7.7m from 106.3m, including 34.65 g/t gold over 0.7m from 106.3m▶26.43 g/t gold over 0.5m from 125m▶These results confirm the historical high-grade intercepts in KSD008 and identify an additional high-grade zone at depth that was not captured in the original hole.KSD026 was drilled approximately 50 metres down-dip of the KSD008/KSD025 section to test the continuity of the high-grade structure. The hole returned:▶8.82 g/t gold over 4.5m from 120 m, including 7.14 g/t gold over 1 m from 122 m and 51 g/t gold over 0.5m from 122.5m▶2.1 g/t gold over 12.5m from 132.5m, including 8.54 g/t gold over 2.1m from 135.9mMap showing prospect and resource areas within the Idenburg COW tenement. FEG drilling is currently in progress within the Sua and North Bermol prospect areas. The areas of announced PIPPIB forest reclassification are also indicated.The results demonstrate a down-dip extension of the high-grade zone intersected in KSD008 and KSD025. The mineralised structure remains open down-dip and along strike to the northeast.Gold mineralisation at Sua is hosted in a series of stacked milky-quartz ± sulphide veins, with more than 30 individual gold-bearing quartz veins mapped to date. The Sua vein system sits within the 5-kilometre-long Sua–Afley shear zone, highlighting substantial potential for further high-grade discoveries.“The high-grade intercepts in KSD025 and KSD026 build on the strong results from our first two holes, KSD023 and KSD024. KSD023 intersected coarse visible gold within a near-surface interval of 13.77 g/t Au over 9.8m, including 131 g/t Au over 0.8m, and KSD024 also intersected coarse visible gold within a near-surface interval of 35.5m at 8.59 g/t Au, including 280 g/t Au over 0.4m,” said FEG’s non-executive chairman, Justin Werner.“All four drillholes assayed to date from FEG’s current program at Sua include bonanza-grade intervals. Importantly, KSD025 intersected a deeper high-grade zone of 26.43 g/t Au over 0.5m from 125m that was not reported in historical hole KSD008. The same deeper zone appears to have been intersected in KSD026, with 8.54 g/t Au over 2.1m from 135.9m downhole. The zone remains open at depth and laterally.“With our first four holes showing high-grade mineralisation across multiple veins, Sua is confirming the company’s interpretation that Idenburg holds significant resource potential.”Sua initial drilling program exceeds objectivesThe company has now drilled 10 holes (KSD023–KSD032) for a total of 1,836 metres at the Sua prospect, completing the planned initial drill program. The work was designed to confirm the high-grade gold zones intersected in historical drilling and to test their continuity at depth and along strike, and the program has exceeded these objectives. Assays are pending for the remaining six holes, which were drilled to extend the currently defined mineral resource area by a further 150 metres along strike to the northeast and by an additional 50 metres down-dip over the existing resource envelope.Hole KSD024 was collared 25 metres west of KSD023, which was the first hole of the program and a twin of historical hole KSD002. Both KSD023 and KSD024 intersected a high-grade gold zone with coarse visible gold, indicating potential to both upgrade and increase the current Sua mineral resource estimate through a broader infill drill program.The high-grade zone intersected in KSD024 remains open for a further 75 metres along strike to historical hole KSD001, which returned 25 metres at 1.75 g/t gold from 20–45 metres, including 1 metre at 18 g/t gold from 44–45 metres.What’s next?On the back of the completed drilling at Sua, further drilling is planned to extend the mineralised zones down-dip and along strike with the aim of significantly increasing the current Sua resource estimate.In parallel, ongoing surface mapping at the Kwaplu prospect, along strike to the southwest of Sua, will be used to define targets for an initial scout drilling program.

ABM Investama Subsidiary Secures IDR 4.2 Trillion Bank Credit Facility
ABM Investama Subsidiary Secures IDR 4.2 Trillion Bank Credit Facility
14 Dec 2025, 04:51 AM 1115

PT ABM Investama Tbk (ABMM) announced that its directly controlled subsidiary, PT Cipta Kridatama Tbk, together with the guarantors, signed a Syndicated Financing Facility Loan Agreement with several domestic banking institutions on December 12, 2025.The facility obtained by Cipta Kridatama is equivalent to IDR 4.2 trillion with an Accordion Option of IDR 1 trillion. The facility amount equals 36.03% of the company’s equity based on its financial statements for the third quarter of 2025.The Accordion Option may be utilized by Cipta Kridatama after fulfilling the requirements and obtaining creditor approval, and must be used no later than two years from the effective date.“The purpose of this agreement is to lower the margin and reprofile the facility tenor in order to reduce financing costs and strengthen the balance sheet,” wrote ABM Investama Corporate Secretary, Boogee Garystho Priyono, in an information disclosure on Friday (Dec 12).Since this credit facility was obtained directly from creditors that are banking institutions, under Article 11 letter b of OJK Regulation 17/2020 the transaction is exempt from using an appraiser to determine the fair value of the material transaction and/or the fairness of the transaction and from obtaining shareholder approval (GMS).

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