Daily News Update Page 1

TABLE OF CONTENTS

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Revealed! This is the reason why the government imposes coal VAT Terungkap! Ini Alasan Kenapa Pemerintah Kenakan PPN Batu Bara Aneka Tambang (ANTM) is optimistic that it can improve its financial performance in the remainder of this year Aneka Tambang (ANTM) optimistis bisa perbaiki kinerja keuangan di sisa tahun ini Inalum Officially Becomes a Shareholder - INCO Reforms the Board of Directors and Commissioners Resmi Inalum Jadi Pemegang Saham - INCO Rombak Jajaran Direksi dan Komisaris Check the Market First! Amman Mineral IPO Postponed To Next Year Cek Pasar Dulu! IPO Amman Mineral Diundur Jadi Tahun Depan Corona Rampant, What is the Fate of the Freeport Smelter Project? Corona Merajalela, Bagaimana Nasib Proyek Smelter Freeport? Mirae Sekuritas Raises Antam's (ANTM) Share Price Target Mirae Sekuritas Kerek Target Harga Saham Antam (ANTM) September 2020 Exploration, Indo Tambangraya Megah (ITMG) Spends Rp 1.5 Billion Carrying out Coal Sample Drilling Eksplorasi September 2020, Indo Tambangraya Megah (ITMG) Habiskan Rp1,5 Miliar Lakukan Pengeboran Sample Batu Bara Indonesian Surveyors Give N-95 Masks to RSCM Medical Personnel Surveyor Indonesia Berikan Masker N-95 Bagi Tenaga Medis RSCM China bans Australian coal imports as political relations sour

CNBC Indonesia Kontan Neraca CNBC Indonesia DetikFinance Bisnis Emiten News Neraca Mining.com

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Newcrest approves expansion projects in Australia and Papua New Guinea Yamana Gold announces 3Q20 preliminary operating results Australia seeks clarity from China on coal import ban Jubilee delivers record copper production in the third quarter Australia to lead technological integration in mining – report

Metal Mining News Global Mining Review Australian Mining Mining Weekly Mining.com

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Daily News Update Page 3

Revealed! This is the reason why the government imposes

coal VAT Lidya Julita S., CNBC Indonesia

THE GOVERNMENT will impose a value

added tax (VAT) on coal, as regulated in the Law on Job Creation which was just passed by the Indonesian House of Representatives (DPR) last week (05/10/ 2020).

Previously, coal was one of the types of goods that were not subject to VAT. However, with the existence of this Job Creation Law, companies are no longer free from this value added tax.

So, what makes the government finally exclude coal from goods that are not subject to VAT?

Director of Counseling, Services, and Public Relations of the Directorate General of Taxes of the Ministry of Finance Hestu Yoga Saksama explained that the application of VAT on coal is to uniform value added tax treatment for all coal mining companies.

The reason is that, according to him, there are different regulations regarding the imposition of VAT on coal mining companies such as holders of Coal Mining Exploitation Work Agreements (PKP2B).

"So far, with the regulation of coal before it becomes briquette, coal is non-BKP (taxable goods), also because of the separate arrangements through each PKP2B, there are various treatments for VAT on coal. Therefore,...

Terungkap! Ini Alasan Kenapa Pemerintah Kenakan PPN Batu

Bara Lidya Julita S., CNBC Indonesia

PEMERINTAH akan mengenakan pajak

pertambahan nilai (PPN) pada batu bara, seperti yang diatur dalam Undang-Undang tentang Cipta Kerja yang baru saja disahkan Dewan Perwakilan Rakyat (DPR) RI pada pekan lalu (05/10/2020).

Sebelumnya, batu bara termasuk ke dalam salah satu jenis barang yang tidak dikenai PPN. Namun dengan adanya UU Cipta Kerja ini, maka perusahaan tak lagi bebas dari pajak pertambahan nilai ini.

Lantas, apa yang membuat pemerintah akhirnya mengecualikan batu bara dalam barang tidak kena PPN?

Direktur Penyuluhan, Pelayanan, dan Humas Direktorat Jenderal Pajak Kemen-terian Keuangan Hestu Yoga Saksama menjelaskan bahwa penerapan PPN pada batu bara ini untuk menyeragamkan perlakuan pajak pertambahan nilai bagi semua perusahaan tambang batu bara.

Pasalnya, selama ini menurutnya terdapat pengaturan yang berbeda terkait pengenaan PPN pada perusahaan tambang batu bara seperti pemegang Perjanjian Karya Pengusahaan Pertambangan Batu Bara (PKP2B).

"Selama ini dengan pengaturan batu bara sebelum menjadi briket, batu bara adalah non BKP (barang kena pajak), juga karena adanya pengaturan tersendiri melalui masing-masing PKP2B, maka terjadi perlakuan yang beragam untuk PPN atas batu bara. Oleh karena itu,...

Daily News Update Page 4

Therefore, for uniformity and legal certainty, coal is determined to be BKP (taxable goods)," he explained via short message to CNBC Indonesia on Monday (12/10/2020).

He said this rule would later apply to all coal companies, regardless of whether it was PKP2B or IUP.

"In principle, all coal deliveries are subject to VAT," he said.

In Article 4A (2) amendments to Law No. 42 of 2009 concerning the Third Amendment to Law No. 8 of 1983 concerning Value Added Tax on Goods and Services and Sales Tax on Luxury Goods, which are part of Article 112 of the Omnibus Law, reads "Types of goods which are not subject to Value Added Tax are certain goods in the following group of goods:

a. mining or drilling products taken directly from the source, excluding coal mining products;... "

Chairman of the Indonesian Mining and Energy Forum (IMEF) Singgih Widagdo said that coal should not be subject to VAT. This is because coal is still a raw material that has not been processed and has added value. Meanwhile, VAT is imposed on goods that have added value.

"Coal should not be subject to VAT because it has not added value to the goods. Unless coal has been produced as other goods, philosophically it can be subject to VAT," he said.

Meanwhile, according to the Executive Director of the Indonesian Coal Mining Association Hendra Sinadia, the imposition of VAT is likely because the government wants to increase state revenue from companies holding Coal Mining Exploitation Work Agreements (PKP2B) which will be extended into Special Mining Business Permits (IUPK).

Oleh karena itu, untuk keseragaman dan kepastian hukum, batu bara ditetapkan men-jadi BKP (barang kena pajak)," jelasnya melalui pesan singkat kepada CNBC Indonesia pada Senin (12/10/2020).

Dia mengatakan, aturan ini nantinya akan berlaku bagi semua perusahaan batu bara, tanpa melihat apakah PKP2B atau IUP.

"Prinsipnya, semua penyerahan batu bara ya terutang PPN," ungkapnya.

Pada Pasal 4A (2) perubahan UU No.42 tahun 2009 tentang Perubahan Ketiga atas UU No.8 tahun 1983 tentang Pajak Pertambahan Nilai Barang dan Jasa dan Pajak Penjualan atas Barang Mewah, yang menjadi bagian dari Pasal 112 Omnibus Law, berbunyi "Jenis barang yang tidak dikenai Pajak Pertambahan Nilai adalah barang tertentu dalam kelompok barang sebagai berikut:

a. barang hasil pertambangan atau hasil pengeboran yang diambil langsung dari sumbernya, tidak termasuk hasil pertam-bangan batu bara;..."

Ketua Indonesian Mining and Energy Forum (IMEF) Singgih Widagdo mengatakan semesti-nya batu bara tidak dikenakan PPN. Pasalnya, batu bara masih berupa bahan baku mentah yang belum diolah dan memiliki nilai tambah. Sedangkan PPN dikenakan atas barang yang telah mengalami pertambahan nilai.

"Semestinya batu bara tidak dikenakan PPN karena belum mengalami pertambahan nilai atas barang. Kecuali batubara itu sudah diproduksi sebagai barang lain, maka secara filosofi dapat dikenakan PPN," tuturnya.

Sementara itu, menurut Direktur Eksekutif Asosiasi Pertambangan Batu Bara Indonesia Hendra Sinadia, pengenaan PPN ini kemung-kinan karena pemerintah ingin meningkatkan penerimaan negara dari perusahaan pemegang Perjanjian Karya Pengusahaan Pertambangan Batu Bara (PKP2B) yang akan diperpanjang menjadi Izin Usaha Pertam-bangan Khusus (IUPK).

Daily News Update Page 5

"Maybe you want to ensure that the state revenue from companies holding PKP2B whose license will be extended is bigger according to the mandate of the Minerba Law, maybe yes," he said.

Director and Corporate Secretary of PT Bumi Resources Tbk (BUMI) Dileep Srivastava said that his party is currently reviewing the impact of the Omnibus Law on the company, both 0% royalty for coal downstreaming, VAT imposition, and environmental policies.

"We are currently studying the impact of this Omnibus Law," he said. (wia)

"Mungkin ingin memastikan agar pene-rimaan negara dari perusahaan pemegang PKP2B yang akan diperpanjang izinnya menjadi lebih besar sesuai amanat UU Minerba, mungkin ya," tuturnya.

Direktur dan Sekretaris Perusahaan PT Bumi Resources Tbk (BUMI) Dileep Srivastava mengatakan pihaknya tengah mengkaji dampak dari Omnibus Law ini ke perusahaan, baik royalti 0% untuk hiliri-sasi batu bara, pengenaan PPN, hingga kebijakan lingkungan.

"Kami sedang mengkaji dampak dari Omnibus Law ini," ujarnya. (wia)

Aneka Tambang (ANTM) is optimistic that it can improve its

financial performance in the remainder of this year

Reporter: Dimas Andi | Editor: Anna Suci Perwitasari

IN GENERAL, the financial performance of

PT Aneka Tambang Tbk (ANTM) during this year has been less than satisfactory. However, ANTM still believes that the room for performance improvement until the end of the year will remain open.

For information, ANTM experienced a decrease in net profit of 80.18% (yoy) to Rp 84.82 billion in the first semester of 2020. At the same time, the state-owned company revenue also shrank 36.04% (yoy) to Rp 9.22 trillion.

Senior Vice President for Corporate Communication of Aneka Tambang Kunto Hendraprawoko said the Covid-19 pandemic was one of the main factors affecting ANTM's performance like other industries in general.

Aneka Tambang (ANTM) optimistis bisa perbaiki kinerja

keuangan di sisa tahun ini Reporter: Dimas Andi | Editor: Anna Suci

Perwitasari

SECARA UMUM, kinerja keuangan PT

Aneka Tambang Tbk (ANTM) sepanjang tahun berjalan ini kurang memuaskan. Namun, ANTM masih yakin ruang untuk perbaikan kinerja hingga akhir tahun nanti tetap terbuka.

Sebagai informasi , ANTM mengalami penurunan laba bersih 80,18% (yoy) menjadi Rp 84,82 miliar di semester I-2020. Di saat yang sama, pendapatan perusahaan pelat merah ini juga susut 36,04% (yoy) menjadi Rp 9,22 triliun.

Senior Vice President Corporate Communication Aneka Tambang Kunto Hendraprawoko mengatakan, pandemi Covid-19 menjadi salah satu faktor utama yang mempengaruhi kinerja ANTM sebagaimana industri lain pada umumnya.

Daily News Update Page 6

"The lockdown policy for several ferronickel export destination countries, especially in the first quarter of 2020, has quite affected the company's performance," he said, Monday (12/10).

However, amidst global economic uncertain-ty, ANTM's profitability performance is actually still well maintained. This is reflected in the realization of Earning Before Interest, Taxes, Depreciation, and Amortization (EBITDA) in the first semester of 2020 which reached Rp 828 billion.

This positive EBITDA is supported by stable operating performance and sales of ANTM's main commodities as well as increased efficiency which has resulted in the optimal level of the company's operating cash costs being met.

If traced, the gold commodity is still the largest contributor to ANTM's sales until the first semester of 2020, amounting to Rp 6.41 trillion or equivalent to 69% of the total sales of the state-owned company.

In the first semester, the precious metals and refining operations segment of ANTM, a member of the Kompas100 index, recorded an operating profit of Rp 495.16 billion with gold sales reaching 7,915 kilograms. This result grew 111% (yoy) compared to the results in the first semester of 2019 of Rp 234.94 billion, even though the volume of gold sales at that time reached 15,741 kilograms.

Kunto said, along with the adaptation phase for new habits, economic conditions and global commodity demand began to experience an improving trend in the second semester.

"We continue to strive to improve production and sales of key commodities through efficiency, innovation and market adaptation in the midst of a pandemic, so that the company is expected to record better performance at the end of the year," he said.

“Kebijakan lockdown beberapa negara tujuan ekspor feronikel terutama pada kuartal I-2020 cukup mempengaruhi kinerja perusahaan,” ujarnya, Senin (12/10).

Meski demikian, di tengah ketidakpastian perekonomian global, performa profita-bilitas ANTM sebenarnya masih terjaga. Hal tersebut tercermin dari realisasi Earning Before Interest, Taxes, Depreciation, and Amortization (EBITDA) pada semester I-2020 yang mencapai Rp 828 miliar.

EBITDA yang masih positif ini didukung oleh kestabilan kinerja operasi dan penjualan komoditas utama ANTM serta peningkatan efisiensi yang berujung pada terpenuhinya tingkat biaya tunai operasi perusahaan yang optimal.

Jika ditelusuri, komoditas emas masih menjadi penyumbang terbesar penjualan ANTM hingga semester I-2020, yakni sebesar Rp 6,41 triliun atau setara dengan 69% dari total penjualan perusahaan pelat merah tersebut.

Di semester pertama pula segmen operasi logam mulia dan pemurnian ANTM , anggota indeks Kompas100 ini, mencatatkan laba usaha sebesar Rp 495,16 miliar dengan tingkat penjualan emas mencapai 7.915 kilogram. Hasil ini tumbuh 111% (yoy) dibandingkan hasil di semester I-2019 sebesar Rp 234,94 miliar, walau volume penjualan emas saat itu mencapai 15.741 kilogram.

Kunto menyebut, seiring dengan adanya fase adaptasi kebiasaan baru, kondisi ekonomi dan permintaan komoditas global mulai mengalami tren perbaikan di semester kedua.

“Kami terus berupaya untuk meningkatkan capaian produksi dan penjualan komoditas utama melalui efisiensi, inovasi, dan adaptasi pasar di tengah kondisi pandemi, sehingga perusahaan diharapkan dapat mencatatkan kinerja yang lebih baik di akhir tahun nanti,” tandas dia.

Daily News Update Page 7

Inalum Officially Becomes a Shareholder - INCO Reforms the

Board of Directors and Commissioners By: Ahmad Nabhani

AFTER officially PT Indonesia Asahan

Aluminum (Inalum), the holding company of BUMN, acquired 20% of the shares of PT Vale Indonesia Tbk (INCO), INCO has now reorganized its management and a number of new figures have joined the board of directors and commissioners. In the disclosure of information conveyed by the company in Jakarta, yesterday it was stated that shareholders appointed Adriansyah Chaniago as vice president director replacing Febriany Eddy, who is now a director.

For information, Adriansyah Chaniago also serves as an independent commissioner for PT Jasa Marga (Persero) Tbk. (JSMR) as of 11 June 2020. His previous positions were CEO/managing director of Samudra Energy (2017-2020) and CFO of Samudra Energy (2008-2017). Since assuming his duties as vice president director of Vale Indonesia, Adriansyah since 7 October 2020 has no longer served as a commissioner of Jasa Marga.

He has also served as senior vice president of corporate finance at PT CIMB GK (CIMB Niaga) Securities (2007-2008), director of investment banking at PT Nusantara Capital (NC Securities) (2001-2007) and PT Bahana Securities (1998-2001). In that regard, Rudiantara, who was previously a vice president commissioner, was replaced by Ogi Prastomiyono who is also currently the director of strategic services for Inalum or MIND ID.

Resmi Inalum Jadi Pemegang Saham - INCO Rombak Jajaran

Direksi dan Komisaris Oleh: Ahmad Nabhani

SETELAH resmi PT Indonesia Asahan

Aluminium (Inalum), induk usaha BUMN mengakuisisi 20% saham PT Vale Indonesia Tbk (INCO), kini pihak INCO merombak jajaran manajemen dan sejumlah figur baru masuk di jajaran direksi maupun komisaris. Dalam keter-bukaan informasi yang disampaikan per-seroan di Jakarta, kemarin disebutkan, pemegang saham mengangkat Adriansyah Chaniago sebagai wakil presiden direktur menggantikan Febriany Eddy yang kini menjabat sebagai direktur.

Sebagai informasi, Adriansyah Chaniago juga menjabat sebagai komisaris inde-penden PT Jasa Marga (Persero) Tbk. (JSMR) per tanggal 11 Juni 2020. Jabatan yang diembannya sebelumnya adalah CEO/direktur utama Samudra Energy (2017-2020) dan CFO Samudra Energy (2008-2017). Sejak mengemban tugas sebagai wakil presiden direktur Vale Indonesia, Adriansyah sejak 7 Oktober 2020 tidak lagi menjabat sebagai komisaris Jasa Marga.

Dia juga pernah menjabat sebagai senior vice president corporate finance PT CIMB GK (CIMB Niaga) Securities (2007-2008), direktur investment banking PT Nusantara Capital (NC Securities) (2001-2007) dan PT Bahana Securities (1998-2001).Selain itu, posisi Rudiantara yang sebelumnya adalah wakil presiden komisaris diganti-kan oleh Ogi Prastomiyono yang juga saat ini merupakan direktur layanan strategis Inalum atau MIND ID.

Daily News Update Page 8

Rudiantara still occupies a position on the board of commissioners. The former Minister of Communication and Information Technology currently serves as the independent commissioner of Vale Indonesia. On the other hand, the position of Raden Sukhyar, who is currently serving as an independent commissioner, was replaced by Rizal Sukma, who previously served as Ambassador Extraordinary Plenipotentiary (LBBP) of the Republic of Indonesia to the United Kingdom of Great Britain and the Republic of Ireland and the Indonesian Maritime Organization until last July 2020.

Finally, Alexandre Silva D'Ambrosio was appointed as a commissioner replacing Rudiantara who also served dual positions as the company's previous commissioner. Alexandre was previously the General Counsel of Vale SA covering the legal, tax, corporate and compliance sectors in all of Vale's subsidiaries worldwide since March 2019. For information, the acquisition transaction of 20% of INCO's shares in Inalum reached Rp 5.2 trillion and is a divestment obligation. based on a work contract with the Indonesian government for the sustainability of the company's operations after 2025.

After the transaction, INCO's share owner-ship changed to, Vale Canada Limited by 43.79%, MIND ID by 20%, Sumitomo Metal Mining 15.03%, and the public by 20.49%. The purchase of Vale Indonesia shares is in accordance with the mandate of BUMN to manage strategic mineral reserves, including nickel mining. However, down-stream mining industry is also very important because it will produce domestic products with economic value up to 4-5 times higher than upstream products.

Rudiantara masih menempati posisi di dewan komisaris. Mantan Menteri

Komunikasi dan Informatika tersebut kini menjabat sebagai komisaris independen

Vale Indonesia. Di sisi lain, posisi Raden Sukhyar yang saat ini menjabat sebagai

komisaris independen digantikan oleh Rizal Sukma yang sebelumnya menjabat

sebagai duta besar Luar Biasa Berkuasa Penuh (LBBP) Republik Indonesia untuk

Kerajaan Inggris Raya merangkap Republik Irlandia dan Organisasi Maritim Indonesia

hingga Juli 2020 lalu.

Terakhir, Alexandre Silva D’Ambrosio diangkat menjadi komisaris menggantikan

Rudiantara yang juga dual rangkap menjabat sebagai komisaris perseroan

sebelumnya. Alexandre sebelumnya adalah General Counsel Vale S.A yang meliputi

sektor legal, pajak, korporasi dan compliance di seluruh entitas anak Vale di

seluruh dunia sejak Maret 2019. Sebagai informasi, transaksi akuisisi 20% saham

INCO kepada Inalum mencapai Rp5,2 triliun dan merupakan sebagai kewajiban

divestasi berdasarkan kontrak karya dengan pemerintah Indonesia untuk

keberlanjutan operasi perseroan setelah 2025.

Setelah transaksi, kepemilikan saham INCO berubah menjadi, Vale Canada

Limited sebesar 43,79%, MIND ID sebanyak 20%, Sumitomo Metal Mining

15,03%, dan publik sebesar 20,49%. Pembelian saham Vale Indonesia ini

memang sesuai dengan mandat BUMN mengelola cadangan mineral strategis,

termasuk tambang nikel. Namun, hilirisasi industri pertambangan juga sangat penting

karena akan menghasilkan produk domestik nilai ekonomis hingga 4-5 kali

lipat lebih tinggi dari produk hulu.

Daily News Update Page 9

By becoming the second largest shareholder, Inalum finally has strategic access to secure the supply of raw materials for Indonesia's downstream nickel industry. Both for downstreaming the nickel industry into stainless steel, as well as into electric vehicle batteries.

Dengan menjadi pemegang saham terbesar kedua, Inalum akhirnya memiliki akses strategis untuk mengamankan pasokan bahan baku untuk industri hilir nikel Indonesia. Baik untuk hilirisasi industri nikel menjadi stainless steel, maupun menjadi baterai kendaraan listrik.

Check the Market First! Amman

Mineral IPO Postponed To Next Year

Anisatul Umah, CNBC Indonesia

PT MEDCO Energi Internasional Tbk (MEDC) plans to list the shares of its subsidiary PT Amman Mineral Nusa Tenggara (AMNT) on the Indonesia Stock Exchange (IDX) in 2021, delayed from the initial plan at the end of 2020.

Regarding this plan, Medco has not been able to tell much about the amount of funds and how many portions of shares will be released through the mechanism of an initial public offering (IPO).

Director of Planning and Finance/ Independent Director of Medco Energi Internasional Anthony R. Mathias said that Amman Mineral's IPO plan will follow the conditions of the capital market in the future.

"Amman IPO is still subject to market conditions [following market conditions]," he told CNBC Indonesia, Monday (12/10/ 2020).

Previously, Medco International founder and owner Arifin Panigoro confirmed that one of its business units would soon take the floor on the IDX, namely Amman Mineral Nusa Tenggara.

Cek Pasar Dulu! IPO Amman

Mineral Diundur Jadi Tahun Depan

Anisatul Umah, CNBC Indonesia

PT MEDCO Energi Internasional Tbk (MEDC) berencana mencatatkan saham anak usahanya PT Amman Mineral Nusa Tenggara (AMNT) di Bursa Efek Indonesia (BEI) pada 2021, tertunda dari rencana awal di akhir tahun 2020.

Mengenai rencana ini, pihak Medco belum bisa bercerita banyak perihal besaran dana dan berapa porsi saham yang akan dilepas melalui mekanisme penawaran umum perdana (initial public offering/IPO).

Direktur Perencanaan dan Keuangan/ Direktur Independen Medco Energi Inter-nasional Anthony R. Mathias mengatakan rencana IPO Amman Mineral kan meng-ikuti kondisi pasar modal nantinya.

"Amman IPO masih subject to market conditions [ikut pada kondisi pasar]," ungkapnya kepada CNBC Indonesia, Senin, (12/10/2020).

Sebelumnya, pendiri dan pemilik Medco Internasional Arifin Panigoro memastikan salah satu unit usahanya bakal segera melantai di BEI yakni Amman Mineral Nusa Tenggara.

Daily News Update Page 10

"Next year [2021] will be more certain," he answered when asked about the certainty

that the gold and copper mining company formerly known as Newmont Nusa

Tenggara, Thursday (10/10/2019).

Amman Mineral operates the Batu Hijau

mine 25,000 hectares, a copper and gold concession located in West Sumbawa

Regency, Nusa Tenggara Province. The Batu Hijau mine is the second largest

copper and gold mine in Indonesia.

Amman Mineral started production and

operations in 2000 and has produced around 3.6 million tonnes of copper and 8

million ounces of gold, with a mining life followed by long-term stockpile

processing.

Regarding the target fund, Arifin was also

unable to disclose even though he had mentioned eyeing IPO funds of up to US$

600 million or the equivalent of Rp.8.82 trillion (exchange rate of Rp.14,700/US$).

Arifin explained that Amman's option is not only an IPO, but also a backdoor listing.

"Suddenly we are merging with which

company or Medco itself, we are already listed [listed on the IDX] as well," he

explained.

Backdoor listing is a way for non-public

companies to enter the exchange by acquiring a public company.

He only emphasized that he was waiting for certainty, as well as convincing him

about corporate actions related to the mining subsidiary in the next year.

Previously, a Bloomberg source revealed in

April that Amman's plan to take the floor on the IDX could be realized in the last

quarter of this year at the latest. However, the company is still silent about the plan.

"Tahun depan [2021] lebih pasti," jawabnya saat ditanya soal kepastian bakal melantainya perusahaan tambang emas dan tembaga yang dulu dikenal sebagai Newmont Nusa Tenggara tersebut, Kamis (10/10/2019).

Amman Mineral mengoperasikan tambang Batu Hijau seluas 25.000 hektare, konsesi tembaga dan emas yang terletak di Kabupaten Sumbawa Barat, Propinsi Nusa Tenggara. Tambang Batu Hijau adalah tambang tembaga dan emas terbesar kedua di Indonesia.

Amman Mineral memulai kegiatan produksi dan operasi di tahun 2000 dan telah memproduksi sekitar 3,6 juta ton tembaga serta 8 juta ounces emas, dengan masa tambang dan diikuti dengan peng-olahan stockpile jangka panjang.

Soal target dana, Arifin juga belum bisa mengungkapkan meski sempat disebut-sebut mengincar dana IPO hingga US$ 600 juta atau setara Rp 8,82 triliun (kurs Rp 14.700/US$).

Arifin menjelaskan opsi yang dimiliki Amman tak cuma IPO, tetapi juga backdoor listing.

"Tahu-tahu kita merger dengan perusahaan siapa gitu atau Medco sendiri yang masuk, kan kami sudah listed [tercatat di BEI] juga," jelasnya.

Backdoor listing adalah cara perusahaan non terbuka untuk masuk ke bursa dengan mengakuisisi perusahaan terbuka.

Ia hanya menegaskan untuk menunggu kepastiannya, sekaligus meyakinkan soal aksi korporasi terkait anak usaha yang bergerak di bidang pertambangan itu di tahun depan.

Sebelumnya, sumber Bloomberg, mengung-kapkan pada April lalu bahwa rencana Amman melantai di BEI selambatnya bisa terealisasi pada kuartal terakhir tahun ini. Meski demikian, pihak perusahaan masih bungkam mengenai rencana tersebut.

Daily News Update Page 11

Amman Mineral is said to be one of the companies that will raise the floor with the largest funding this year, although it will eventually be shifted to next year with market considerations. (tas/tas)

Amman Mineral disebut-sebut akan menjadi salah satu perusahaan yang akan melantai dengan raihan dana terbesar di tahun ini, kendati akhirnya digeser jadi tahun depan dengan pertimbangan pasar. (tas/tas)

Corona Rampant, What is the Fate of the Freeport Smelter Project?

Inkana Putri - detikFinance

THE MINISTRY of Industry (Kemenperin)

continues to strive to improve the competitiveness of the national industry through downstream minerals. One of them is through the construction of a PT Freeport Indonesia smelter in the Java Integrated Industrial and Port Estate (JIIPE) industrial area in Gresik, East Java.

"There are many downstream products that can be pursued, so that later in Indonesia there will be factories that will use the refined products from Freeport. The added value can continue to be encouraged," said Industry Minister Agus Gumiwang Kartasasmita in a written statement , Monday (12/10/2020).

PT Freeport Indonesia is a mining company affiliated with Freeport-McMoRan and the mining industry holding company of State-Owned Enterprises (BUMN) and Mining Industry Indonesia (MIND ID). Agus added that currently PT Freeport Indonesia is building a copper refinery, which results can be used for various industrial raw materials in Indonesia.

"The company is building copper refineries as raw material for the automotive industry, electronics industry, cables, air conditioning factories, construction of electrical installations to electric vehicles," said Agus.

Corona Merajalela, Bagaimana Nasib Proyek Smelter Freeport?

Inkana Putri - detikFinance

KEMENTERIAN Perindustrian (Kemen-

perin) terus berupaya meningkatkan daya saing industri nasional melalui hilirisasi mineral . Salah satunya melalui pem-bangunan smelter PT Freeport Indonesia di kawasan industri Java Integrated Industrial and Port Estate (JIIPE) di Gresik, Jawa Timur.

"Banyak produk hilirisasi yang bisa dikejar, agar nantinya di Indonesia bisa ada pabrik-pabrik yang akan menggunakan hasil pemurnian dari Freeport. Nilai tambahnya bisa terus didorong," ujar Menteri Perindus-trian Agus Gumiwang Kartasasmita dalam keterangan tertulis, Senin (12/10/2020).

PT Freeport Indonesia merupakan per-usahaan tambang afiliasi dari Freeport-McMoRan dan holding industri pertam-bangan Badan Usaha Milik Negara (BUMN) dan Mining Industry Indonesia (MIND ID). Agus menambahkan saat ini PT Freeport Indonesia sedang membangun pemurnian tembaga yang hasilnya bisa digunakan untuk berbagai bahan baku industri di Indonesia.

"Perusahaan tersebut sedang membangun pemurnian tembaga sebagai bahan baku industri otomotif, industri elektronik, kabel, pabrik AC, konstruksi instalasi listrik hingga electric vehicle," jelas Agus.

Daily News Update Page 12

He further said that his party had also reviewed the location of the PT Freeport Indonesia smelter project in the JIIPE Gresik industrial area, which was built on an area of 100 hectares, as well as a supporting area of 120 hectares.

The refining facility for metal-enhancing will be projected to become the largest copper processing facility in the world. However, the COVID-19 pandemic has hampered the process of building smelters in the field.

"However , currently MIND ID as the holding company for the state-owned mining industry, informs that the smelter construction is experiencing problems due to the impact of the COVID-19 pandemic on the mobility of contractors in the field," said Agus.

In order to increase industrial competitive-ness in JIIPE, the Government has also made various efforts through a review of proposals, namely proposing the JIIPE industrial area as a Special Economic Zone (KEK) and proposing a reduction in gas prices for the JIIPE power plant.

In this regard, the Ministry of Industry has conducted internal discussions on the proposed reduction in gas prices for industrial estates with proposals for lowering gas prices for other industries.

"Currently, it is also in the stage of data collection on industrial areas that require a reduction in gas prices," he explained.

Agus added that the JIIPE industrial area plans to develop solar panels as an alternative to electricity supply with renewable energy. Solar panels will be built floating on top of seven reservoirs and on the roof of the factory.

Therefore, the Ministry of Industry continues to coordinate with other ministries and agencies in implementing the plan.

Lebih lanjut ia mengatakan pihaknya juga telah meninjau lokasi proyek smelter PT Freeport Indonesia di kawasan industri JIIPE Gresik, yang dibangun di lahan seluas 100 hektare, serta supporting area seluas 120 hektare.

Adapun fasilitas pemurnian peningkat kandungan logam tersebut nantinya akan diproyeksikan menjadi tempat pengolahan tembaga terbesar di dunia. Namun, adanya pandemi COVID-19 menghambat proses pembangunan smelter di lapangan.

"Namun, saat ini MIND ID sebagai holding industri pertambangan BUMN, menginfor-masikan bahwa pembangunan smelter tengah mengalami kendala akibat dampak pandemi COVID-19 terhadap mobilitas kontraktor di lapangan," jelas Agus.

Dalam rangka meningkatkan daya saing industri di JIIPE, Pemerintah juga melaku-kan berbagai upaya melalui kajian usulan, yakni pengusulan kawasan industri JIIPE sebagai Kawasan Ekonomi Khusus (KEK) dan pengusulan penurunan harga gas untuk power plant JIIPE.

Terkait hal ini, Kemenperin telah melaku-kan pembahasan internal usulan penu-runan harga gas untuk kawasan industri dengan usulan penurunan harga gas untuk industri yang lain.

"Saat ini, juga dalam tahap pendataan kawasan-kawasan industri yang mem-butuhkan penurunan harga gas," paparnya.

Agus menambahkan di kawasan industri JIIPE rencananya akan dikembangkan solar panel sebagai alternatif pasokan listrik dengan energi terbarukan. Solar panel akan dibangun secara floating di atas tujuh embung dan di atas atap pabrik.

Oleh karena itu, Kemenperin terus ber-koordinasi dengan kementerian dan lembaga lain dalam rangka pelaksanaan rencana tersebut.

Daily News Update Page 13

"The Ministry of Industry continues to coordinate with the Ministry of Energy and Mineral Resources (ESDM) and related parties regarding the licensing of solar panels at JIIPE," he concluded.

Meanwhile, President Director of PT Berkah Kawasan Manyar Sejahtera (BMKS) Bambang Soetiono said that JIIPE is the first integrated area in Indonesia with a total area of 3,000 hectares. This area is also surrounded by adequate infra-structure including industrial areas, multi-purpose ports, commercial and residential areas.

"Apart from being equipped with sufficient utilities and infrastructure, the JIIPE Industrial Estate is also integrated with a port with a depth of -16 meters below sea level, so that large vessels with a capacity of 100,000 DWT (dead weight tonnage) can load and unload at JIIPE Port," he said. (akn/hns)

"Kemenperin terus berkoordinasi dengan Kementerian Energi Sumber Daya Mineral (ESDM) serta pihak-pihak terkait mengenai perizinan solar panel di JIIPE," pungkasnya.

Sementara itu Direktur Utama PT Berkah Kawasan Manyar Sejahtera (BMKS) Bambang Soetiono menyampaikan JIIPE menjadi kawasan terintegrasi pertama di Indonesia dengan total area 3.000 hektare. Kawasan ini juga dikelilingi sarana pra-sarana yang memadai meliputi kawasan industri, pelabuhan multiguna, area komersial dan perumahan.

"Selain dilengkapi dengan sarana pra-sarana utilitas yang cukup, Kawasan Industri JIIPE juga terintegrasi dengan pelabuhan berkedalaman -16 meter di bawah permukaan laut, sehingga kapal besar dengan kapasitas 100.000 DWT (dead weight tonnage) dapat melakukan bongkar muat di Pelabuhan JIIPE," kata-nya. (akn/hns)

Mirae Sekuritas Raises Antam's (ANTM) Share Price Target

Hafiyyan

PT MIRAE Asset Sekuritas Indonesia

increases the target share price of PT Aneka Tambang Tbk. (ANTM).

Mirae Asset Sekuritas Indonesia analyst Andy Wibowo Gunawan predicts that ANTM's stock price will reach Rp960, up from the initial prediction of Rp655.

The position of ANTM's share price as of Monday (12/10/2020) is worth Rp 780. ANTM shares lost 7.14 percent during the year, but soared 80.56 percent in the last 6 months.

Mirae Sekuritas Kerek Target Harga Saham Antam (ANTM)

Hafiyyan

PT MIRAE Asset Sekuritas Indonesia me-

ningkatkan target harga saham PT Aneka Tambang Tbk. (ANTM).

Analis Mirae Asset Sekuritas Indonesia Andy Wibowo Gunawan memprediksi harga saham ANTM menyentuh angka Rp960, naik dari prediksi awal sebesar Rp655.

Posisi harga saham ANTM per Senin (12/10/2020) senilai Rp780. Saham ANTM koreksi 7,14 persen sepanjang tahun berjalan, tetapi melejit 80,56 persen dalam 6 bulan terakhir.

Daily News Update Page 14

"This assumption is based on our revised predictions for ANTM 2020 revenue from

Rp 25.35 trillion to Rp 28.6 trillion, with a profit of Rp 249 billion, from the previous

assumption of Rp 208 bill ion," he explained in a statement, Tuesday (10/13/

2020).

The predicted increase in ANTM's income, continued Andy, is inseparable from the

projection of the global gold price in 2020 of US$ 1,850 per troy ounce, higher than

the previous prediction of US$ 1,700 per troy ounce. Meanwhile, ANTM's gold price

has reached Rp. 1 million per gram.

"With the revenue assumption, we predict

ANTM will pocket a net profit that is higher than our previous assumption, namely

Rp208 billion, to Rp249 billion," he said.

The appointment of ANTM as the manager

of the former PT Freeport Indonesia (PTFI) gold mine, Wabu Block, is also considered

worthy of special attention. The reason is, this mine holds 4.3 million tonnes of gold

ore worth Rp209 trillion.

The government is targeting the construction of 52 smelter units by 2024,

of which more than half or 29 of them are nickel smelters. For the record, in 2016

there were only seven nickel smelters in Indonesia.

Andy added, this is certainly a breath of fresh air for Antam, considering that this

state-owned company has nickel ore reserves of 354 million wet metric tons

(wmt).

"The increase in the number of smelters

will of course be directly proportional to the demand. Therefore, this will be another

biggest source of income for Antam, apart from gold," he said. Editor: Hafiyyan

"Asumsi ini berdasarkan revisi prediksi kami terhadap pendapatan ANTM 2020 dari Rp25,35 triliun menjadi Rp28,6 triliun, dengan laba mencapai Rp249 miliar, dari asumsi sebelumnya sebesar Rp208 miliar," paparnya dalam kete-rangan, Selasa (13/10/2020).

Prediksi kenaikan pendapatan ANTM, lanjut Andy, tak terlepas dari proyeksi harga emas global tahun 2020 sebesar US$1.850 per troy ons, lebih besar dari prediksi sebelumnya yakni US$1.700 per troy ons. Adapun, harga emas ANTM sudah menembus Rp 1 juta per gram.

"Dengan asumsi pendapatan tersebut, kami memprediksi ANTM akan mengan-tongi laba bersih yang lebih tinggi dari asumsi kami sebelumnya, yakni Rp208 miliar, menjadi Rp249 miliar," tuturnya.

Penunjukan ANTM sebagai pengelola tambang emas eks PT Freeport Indonesia (PTFI), Blok Wabu, pun dinilai patut men-jadi perhatian khusus. Pasalnya, tambang ini menyimpan 4,3 juta ton bijih emas senilai Rp209 triliun.

Pemerintah menargetkan pembangunan 52 unit smelter hingga 2024, dimana lebih dari setengahnya atau 29 diantaranya merupakan smelter nikel. Sebagai catatan, pada 2016 hanya ada tujuh smelter nikel di Indonesia.

Andy menambahkan, hal ini tentunya men-jadi angin segar bagi Antam, mengingat perusahaan pelat merah ini memiliki cadangan bijih nikel sebesar 354 juta wet metrik ton (wmt).

"Bertambahnya jumlah smelter tentunya akan berbanding lurus dengan permintaan. Oleh karena itu, hal ini akan menjadi sumber pemasukan terbesar lainnya bagi Antam, selain emas," tuturnya. Editor :

Hafiyyan

Daily News Update Page 15

September 2020 Exploration, Indo Tambangraya Megah (ITMG)

Spends Rp 1.5 Billion Carrying out Coal Sample Drilling

PT. INDO Tambangraya Megah Tbk.

(ITMG) in September 2020 carried out exploration for coal mining operations carried out through its Subsidiaries that have current coal mining exploitation work agreements (PKP2B), namely PT Indominco Mandiri and PT Trubaindo Coal Mining.

Based on a written statement published by ITMG on the IDX website Monday (12/10), it was stated that the drilling operation of PT. Trubaindo Coal Mining (TCM) was carried out in the South Block 1 (SB1) and South Block 2 (SB2) areas, which are located in Muara Lawa District, West Kutai Regency, East Kalimantan Province by the Drilling Contractor PT. Geryndo, PT. Saribumi Prima Utama and PT. Cosyindo, wrote ITMG Management.

In September 2020, PT TCM only carried out drilling activities on the SB2 Block totaling 34 drill holes with a depth of 1,278 meters for open hole drilling and 397 meters for core drilling (coring). For the purposes of analysis, 203 coal samples were taken from pre-production drilling. The drilling cost for the period September 2020 is Rp 851,818,963.

Meanwhile for the drilling operation of PT. Indominco Mandiri is carried out in the West Block and the East Block which are located in Sangatta District, East Kutai Regency, Marang Kayu District, Kutai Kartanegara Regency and North and South Bontang Districts, Bontang Regency, East Kalimantan Province.

Eksplorasi September 2020, Indo Tambangraya Megah (ITMG)

Habiskan Rp1,5 Miliar Lakukan Pengeboran Sample Batu Bara

PT. INDO Tambangraya Megah Tbk. (ITMG)

pada bulan september 2020 telah melakukan eksplorasi untuk Operasional pertambangan batubara dilakukan melalui Anak Perusahaan-nya yang memiliki ijin perjanjian karya peng-usahaan pertambangan batubara (PKP2B) saat ini yaitu PT Indominco Mandiri dan PT Trubaindo Coal Mining.

Berdasarkan ketrangan tertulis yang dimuat ITMG pada laman BEI Senin (12/10) disebut-kan, Operasional pemboran PT. Trubaindo Coal Mining (TCM) dilakukan pada area South Block 1 (SB1) dan South Block 2 (SB2) yang terletak pada Kecamatan Muara Lawa, Kabupaten Kutai Barat, Provinsi Kalimantan Timur oleh pihak Kontraktor Pemboran PT. Geryndo, PT. Saribumi Prima Utama dan PT. Cosyindo, tulis Manajemen ITMG.

Pada bulan September 2020, PT TCM hanya melakukan kegiatan pemboran pada Blok SB2 sebanyak 34 lubang bor dengan kedalaman 1,278 meter untuk pemboran lubang terbuka dan 397 meter untuk pemboran inti (coring). Dalam rangka kepentingan analisa telah di-lakukan pengambilan sampel batubara sebanyak 203 sampel dari pemboran pre-production. Biaya pemboran untuk periode bulan September 2020 adalah sebesar Rp 851,818,963.

Sementara untuk Operasional pemboran PT. Indominco Mandiri dilakukan pada Blok Barat dan Blok Timur yang terletak pada Kecamatan Sangatta Kabupaten Kutai Timur, Kecamatan Marang Kayu Kabupaten Kutai Kartanegara dan Kecamatan Bontang Utara dan Selatan Kabupaten Bontang, Provinsi Kalimantan Timur.

Daily News Update Page 16

Drilling activities are carried out by an internal drilling team from the Department of Geology which already has 2 Dando types 250 and 210 drilling units.

In September 2020, in the West Block, 6 development drills were carried out with a depth of 462 meters for open hole drilling and 202 meters for core drilling (coring). Meanwhile, in the East Block, pre -production drilling has been carried out in 10 drill holes with a total depth of 1,311 meters each for open hole drilling and 33 meters for core drilling (coring). In order to support drilling activities, 122 coal samples were taken from infill and pit drilling samples and geo-logging was carried out in 15 drill holes with a total depth of 1.893 meters. The drilling fee for the period September 2020 is Rp. 692,046,324.

Kegiatan pemboran dilakukan oleh internal tim pemboran Departemen Geologi yang telah memiliki 2 unit pemboran Dando type 250 dan 210.

Di bulan September 2020, pada Blok Barat telah dilakukan pemboran development sebanyak 6 lubang bor dengan kedalaman 462 meter untuk pemboran lubang terbuka dan 202 meter untuk pemboran inti (coring). Sementara pada Blok Timur telah dilakukan pemboran pre-production pada 10 lubang bor dengan total kedalaman masing-masing 1,311 meter untuk pemboran lubang terbuka dan 33 meter untuk pemboran inti (coring). Guna mendukung kegiatan pemboran telah dilakukan pengambilan sampel batubara sebanyak 122 sampel yang didapat dari sampel pemboran infill dan pit serta dilaku-kan kegiatan geo-logging pada 15 lubang bor dengan total kedalaman 1,893 meter. Biaya pemboran untuk periode bulan September

2020 adalah sebesar Rp. 692,046,324.

Indonesian Surveyors Give N-95

Masks to RSCM Medical Personnel

By: Mohar Syarif

IN THE context of preventing and over-

coming the 2019 Corona Virus Desease (Covid-19) pandemic, PT Surveyor Indonesia (Persero) provided assistance in the form of N-95 masks for medical personnel at Cipto Mangunkusumo Hospital (RSCM). Assistance was given directly by the Director of Finance and Strategic Planning, Rosmanidar Zulkifli and received by the President Director of RSCM dr. Lies Dina Liastuti. The event was also attended by the Director of Medical and Nursing, dr. Sumariyono, and the Director of General Planning and Operations, dr. Arif Rahman Sadad.

Surveyor Indonesia Berikan

Masker N-95 Bagi Tenaga Medis RSCM

Oleh: Mohar Syarif

DALAM rangka pencegahan dan penang-

gulangan pandemi Corona Virus Desease 2019 (Covid-19), PT Surveyor Indonesia (Persero) memberikan bantuan berupa masker N-95 bagi tenaga medis di Rumah Sakit Cipto Mangunkusumo (RSCM). Bantuan diberikan langsung oleh Direktur Keuangan dan Perencanaan Strategis, Rosmanidar Zulkifli dan diterima oleh Direktur Utama RSCM dr. Lies Dina Liastuti. Acara turut dihadiri oleh Direktur Medik dan Keperawatan, dr. Sumariyono, dan Direktur Perencanaan Umum dan Operasional, dr. Arif Rahman Sadad.

Daily News Update Page 17

On this occasion, Rosmanindar explained that the provision of this assistance was a form of Indonesia's Surveyor's commitment to accelerate the respons e to the Covid-19 pandemic in Indonesia. "Surveyors Indonesia are committed to helping the government in overcoming Covid-19 by providing medical equipment assistance to various hospitals and health centers, basic necessities and vitamins to the community, hand sanitizers, thermo-scan guns and masks to the community in various public facilities, as well as socializing clean and healthy living habits. to the community,” said Rosmanidar, Friday (9/10).

In addition, Surveyor Indonesia has also consistently implemented health protocols throughout the perimeter of the work environment, both head office and branch offices as a preventive measure to reduce the risk of transmission between employees.

President Director of RSCM dr. Lies Dina Liastuti appreciated the assistance provided by Surveyors Indonesia for their support for medical personnel in the field. "We are grateful for the assistance from Surveyors Indonesia. Hopefully the handling of the Covid-19 case in Indonesia, especially patients at the RSCM can be more effective," he said.

Until October 2020, Indonesian Surveyors were recorded to have distributed assistance to Public Health Center and hospitals in the Greater Jakarta area such as Pertamina Hospital, North Depok Public Health Center, Depok Jaya Public Health Center, Jati Padang Hospital, Kramat Jati Public Health Center, Tebet Hospital, Bukit Duri Public Health Center, Kebon Baru Public Health Center, South Manggara Public Health Center, Manggarai Public Health Center, Menteng Dalam Public Health Center, West Tebet Public Health Center, East Tebet Public Health Center, Bogor City Hospital, Bekasi City Hospital, Duren Sawit Regional Hospital, PKM Cisauk Tangerang Regency, PKM Palmerah, and Wisma Atlet Hospital.

Pada kesempatan tersebut, Rosmanindar menjelaskan bahwa pemberian bantuan ini merupakan bentuk komitmen Surveyor Indonesia dalam rangka percepatan penang-gulangan pandemi Covid-19 di Indonesia. “Surveyor Indonesia berkomitmen mem-bantu pemerintah dalam penanggulangan Covid-19 dengan memberikan bantuan alat kesehatan ke berbagai Rumah Sakit dan Puskesmas, sembako dan vitamin kepada masyarakat, hand sanitizer, thermoscan gun dan masker kepada masyarakat di berbagai fasilitas umum, serta sosialisasi perilaku hidup bersih dan sehat kepada masyarakat,” ujar Rosmanidar, Jumat (9/10).

Selain itu, Surveyor Indonesia juga dengan konsisten menerapkan protokol kesehatan di seluruh perimeter lingkungan kerja, baik kantor pusat maupun kantor cabang sebagai langkah pencegahan guna me-nurunkan risiko penularan antar pegawai.

Direktur Utama RSCM dr. Lies Dina Liastuti mengapresiasi bantuan yang diberikan Surveyor Indonesia atas dukungan terhadap tenaga medis di lapangan. “Kami berterima kasih atas bantuan Surveyor Indonesia. Mudah-mudahan penanganan kasus Covid-19 di Indonesia, khususnya pasein di RSCM bisa lebih efekti f,” ungkapnya.

Hingga bulan Oktober 2020, Surveyor Indonesia tercatat telah menyalurkan bantuan kepada puskesmas dan rumah sakit di daerah Jabodetabek seperti RSUD Pertamina, Puskesmas Depok Utara, Puskemas Depok Jaya, RSUD Jati Padang, Puskesmas Kramat Jati, RSUD Tebet, Puskesmas Kel. Bukit Duri, Puskesmas Kel. Kebon Baru, Puskesmas Kel. Manggara Selatan, Puskesmas Kel . Manggarai, Puskesmas Kel . Menteng Dalam, Puskesmas Kel. Tebet Barat, Puskesmas Kel. Tebet Timur, RSUD Kota Bogor, RSUD Kota Bekasi, RS Khusus Daerah Duren Sawit, PKM Cisauk Kab.Tangerang, PKM Palmerah, dan RSD Wisma Atlet.

Daily News Update Page 18

Until now, the total assistance that has been distributed by Indonesian Surveyors for handling Covid-19 is worth Rp 1.3 billion. The assistance was in the form of PPE clothes, disinfectants, hand sanitizers, N-95 masks, non-medical masks, face shields, rubber gloves, thermoscan guns, vitamins, sinks, fruits, mineral water, and cash.

Indonesia Surveyor President Director Dian M. Noer also said related to Surveyor Indonesia's commitment to continue to assist the government in supporting the handling and prevention of the spread of Covid-19, in Indonesia, either through corporate social responsibility programs or through the development of Safeguard Label attestation services.

"In order to support the National Economic Recovery Program (PEN), Surveyor Indonesia has launched assurance services for industry players to be able to return to their activities in a new life adaptation period. Restart Your Business with SIBV provides attestation services in the form of safeguards through recommended para-meters according to health standards from WHO, Ministry of Health, as well as applicable regulatory industry standards," he concluded.

Surveyor Indonesia is a state-owned company that was established on August 1, 1991. Initially our mission was to assist the Government of the Republic of Indonesia in smoothing the flow of capital goods and equipment to Indonesia from all over the world through international standard pre-shipment inspection services.

Now Surveyor Indonesia is more and more determined to achieve its vision as a company that provides independent assurance in every transaction. Our experience in serving the service market is a major strength supported by strong human resources in providing the best service for customers.

Hingga saat ini, Total bantuan yang telah di salurkan Surveyor Indonesia untuk penanganan Covid-19 senilai Rp 1,3 miliar. Bantuan tersebut berupa baju APD, disinfektan, hand sanitizer, masker N-95,

masker non-medis, face shield, sarung tangan

karet, thermoscan gun, vitamin, wastafel,

buah-buahan, air mineral, serta uang tunai.

Direktur Utama Surveyor Indonesia Dian M. Noer juga menuturkan terkait komitmen Surveyor Indonesia untuk terus membantu pemerintah dalam mendukung penanganan dan pencegahan penyebaran Covid-19, di Indonesia, baik melalui program tanggung jawab sosial perusahaan ataupun melalui pengembangan jasa atestasi Safeguard Label.

“Dalam rangka mendukung Program Pemulihan Ekonomi Nasional (PEN), Surveyor Indonesia telah meluncurkan layanan jasa pemastian bagi para pelaku industri untuk bisa kembali beraktifitas di masa adaptasi kehidupan baru. Restart Your Business with SIBV menyediakan layanan jasa atestasi berupa Safeguard melalui rekomendasi parameter yang sesuai standar kesehatan dari WHO, Kemenkes, serta standar industri peraturan yang berlaku,” pungkasnya.

Surveyor Indonesia adalah Badan Usaha Milik Negara yang didirikan pada tanggal 1 Agustus 1991. Pada awalnya misi kami adalah untuk membantu Pemerintah Republik Indonesia dalam memperlancar aliran barang modal dan peralatan ke Indonesia dari seluruh dunia melalu i jas a pemeriks aan pra-pengapalan yang bertaraf internasional.

Kini Surveyor Indonesia kian mantap men-capai visi sebagai perusahaan pemberi jaminan kepastian yang tidak memihak dalam setiap transaksi (independent assurance). Pengalaman kami melayani pasar jasa tersebut menjadi kekuatan utama yang didukung oleh sumber daya manusia yang kuat dalam memberikan pelayanan terbaik bagi para pelanggan.

Daily News Update Page 19

Our independent assurance services focus on four sectors, namely: Strengthening

Institutional Institutions, Infrastructure, Mineral and Coal, Oil and Gas and Power

Generation Systems. To carry out independent assurance activities, we are

accredited with ISO 17020 and ISO 17025 for inspection and laboratory testing

activities. Our management system has met the requirements of ISO 9001 and OHSAS

18001 as well as SMK3 which is supported by experts from various disciplines as well

as collaborative support from various National and International Institutions.

Surveyor Indonesia is headquartered in

Jakarta and has branch offices throughout Indonesia that provide services in both

domestic and foreign markets. To ensure optimal service delivery, our international

network is supported by a number of partners from around the world who have

international reputations in their respective fields. Mohar

Layanan independent assurance kami fokus-

kan pada empat sektor yaitu: Penguatan

Institusi Kelembagaan, Infrastruktur, Mineral

dan Batubara, Migas dan Sistem Pembangkit.

Untuk melaksanakan kegiatan independent

assurance, kami diakreditasi ISO 17020 dan

ISO 17025 untuk kegiatan Inspeksi dan

pengujian laboratorium. Sistem manajemen

kami sudah memenuhi persyaratan ISO 9001

dan OHSAS 18001 serta SMK3 yang didukung

tenaga ahli dari berbagai disiplin ilmu serta

dukungan kerjasama dari berbagai Lembaga

Nasional dan Internasional.

Surveyor Indonesia berkantor pusat di

Jakarta dan memiliki kantor cabang di seluruh Indonesia yang menyediakan

layanan baik di pasar dalam negeri maupun luar negeri. Untuk memastikan penyajian

jasa yang optimal, jaringan internasional kami didukung oleh sejumlah mitra kerja

dari seluruh dunia yang memiliki reputasi internasional di bidangnya masing-masing.

Mohar

China bans Australian coal imports as political relations sour Bloomberg News

CHINA has suspended purchases of Australian coal, according to people familiar with the

order, as Beijing continues to tightly control imports of the fuel amid soured political

relations with Canberra.

Chinese power stations and steel mills have been verbally told to immediately stop using Australian coal, the people said, asking not to be identified as the matter is private. Ports have

also been told not to offload Australian coal, one of the people said. China’s customs administration wasn’t immediately available to comment.

The ban marks an escalation in tensions that have already jolted agricultural exports from China’s biggest supplier of commodities. It isn’t clear when the halt might end or how it might

affect long-term contracts that are already in place.

Daily News Update Page 20

The fossil fuel has been a previous target for China’s ire with what it regards as an increasingly hostile government in Canberra, most recently in 2019 when shipments became subject to port delays. It’s one of the few resources in which China is largely self-sufficient, as it mines and burns about half the world’s supply, and its utilities use lower-quality thermal coal for just a small fraction of their needs.

Higher-quality coking coal is a different story. China produces less of it and the country’s steel-making giants are still reliant on overseas suppliers, where Australia is dominant, typically accounting for over half of imports.

China is, overwhelmingly, the key buyer of Australia’s most lucrative export, iron ore, although curbs on that product would be a heavy blow to a steel industry that relies on vast — and cheap — supplies from mining heavyweights like Rio Tinto Group and BHP Group.

More broadly, China keeps a tight grip on coal imports as it seeks to balance the needs of its miners and industrial users. The fuel still accounts for over half of its energy needs, but is falling out of favor, albeit gradually, as China shifts to cleaner burning energy to cut pollution and meet increasingly ambitious climate goals.

“We are aware of these reports and have had discussions with Australia’s resources industry, who have previously faced occasional disruptions to trade flows with China,” Trade Minister Simon Birmingham said in a statement. “Australia will continue to highlight our standing as a reliable supplier of high grade resources that provide mutual benefits.”

BHP Group, Australia’s biggest exporter of coking coal, didn’t immediately respond to a request for comment. China Baowu Steel Group, the nation’s biggest mill, declined to comment. The news of the coal ban was first reported by outlets including S&P Global Platts and Argus Media.

(With assistance from Matthew Burgess, Alfred Cang, David Stringer and Winnie Zhu)

Daily News Update Page 21

Newcrest approves expansion projects in Australia and Papua New Guinea

Published by Simon Matthis

AUSTRALIAN Newcrest Board har approved two projects moving to the Execution phase,

being Stage 2 of the Cadia Expansion Project and the Lihir Front End Recovery Project.

Newcrest Managing Director and Chief Executive Officer, Sandeep Biswas said “It is an exciting time at Newcrest as we advance our growth pipeline with both of these projects

adding value to our existing large scale, long life operations while we pursue the development of Red Chris and Havieron and exploration opportunities globally.”

“Stage 2 of the Cadia Expansion Project increases plant capacity to 35mtpa, enabling an increase in gold and copper recoveries, an increase in production and a reduction in unit

costs. Cadia is one of the largest, lowest cost, long life gold mines in the world due to the application of Newcrest’s industry leading block caving technology, and this investment helps

Cadia maintain this industry leading position.”

“The Lihir Front End Recovery Project is expected to deliver additional production through an

improvement in gold recoveries over the life of the mine. Lihir’s long reserve life makes this improvement in gold recoveries particularly valuable to our shareholders.” “I am pleased that

Newcrest is able to generate well paying jobs for people in Australia and Papua New Guinea over the next two years. Stages 1 and 2 of the Cadia Expansion Project are expected to

generate direct employment in Australia of approximately 860 people at its peak, whilst the Lihir Front End Recovery project is expected to generate direct employment of approximately

150 people at its peak.” Mr Biswas further said “Both projects demonstrate how we are using innovation and our technical expertise to continually improve our operations. With a strong

balance sheet, low cost production, a range of organic growth options and a strong exploration portfolio, Newcrest is well positioned for the future.”

On its website, Newcrest claims that it is the largest gold producer listed on the Australian Securities Exchange (ASX). It is also one of the world’s largest gold mining companies.

Yamana Gold announces 3Q20 preliminary operating results Published by Jessica Casey, Editorial Assistant

YAMANA Gold has announced preliminary 3Q20 results, with gold production of 201 772 oz and silver production of 3.04 million oz. Total gold equivalent production (GEO) was 240 466 oz.

Daily News Update Page 22

Jacobina, El Peñón, Minera Florida, and Canadian Malartic all enjoyed successful quarters. With overall production, and production at most of the company’s mines, currently tracking ahead of plan, and in some cases well ahead of plan, the company increases its 2020 production guidance from the previous guidance of 890 000 GEO to 915 000 GEO, representing an increase of 3%. Gold production and silver production guidance have increased from previous guidance by approximately 1% and 6%, respectively.

The company continued to generate strong cash flows in the quarter which strengthened its cash balances and balance sheet. Cash balances at quarter end increased by a further US$145 million from US$325 million at the end of 2Q20 to approximately US$470 million.

The strong results position the xompany well for an even stronger fourth quarter and continued production growth over the next several years. Furthermore, the company has low capital commitments over the near-to-medium term, which together with Yamana’s rising production profile, cash flows, and cash balances, provide significant financial flexibility to pursue all of its capital allocation objectives, including further dividend increases.

As a result, the company is pleased to announce that it is raising its annual dividend by a further 50% to US$0.105 per share, effective for 4Q20. At the new rate, the dividend will be 425% higher than the dividend level just 18 months ago. Furthermore, as the company has established a policy of representing the dividend on a per GEO basis, with the objective of maintaining the dividend at between US$50 – US$100/GEO, this increase positions the dividend at the high end of the range at US$100/oz.

Dividend increase highlights

The company is increasing its annual dividend by a further 50% to US$0.105 per share, effective for 4Q20.

On a per GEO basis, the dividend is at the top of the company’s target range of US$50 – US$100/GEO, with US$100/GEO now the new dividend floor.

At the new rate, the dividend will be 425% higher than the dividend level just 18 months ago.

Based on Yamana’s share price at yesterday’s close, the company’s dividend yield at the new rate would be 1.9%, which on an absolute and risk-adjusted basis is amongst the highest of its North American peers. The Company endeavours to balance cash returns with overall returns and notes that while its dividend yield to share price has improved significantly relative to peers, its significant increase in share price since last year has the effect of reducing cash return yields although at the expense of significant overall returns which include share price. Since the start of 2019, overall returns for the company’s shares are 143% as of 7 October 2020 close.

Consistent with its dividend policy and sustainability objectives, the company has sufficient cash reserves on hand to support payment of the dividend at the increased level for three years. The cash reserve fund provides the company with the flexibility to pay the dividend at the new floor for an extended period even in a bottom of cycle gold price environment.

The company will no longer provide a range for its dividends on a per GEO basis although, as a policy, it has now set a floor for its dividend and any increases above the new floor will be based entirely on cash flows and cash generation capacity of the company. The

Daily News Update Page 23

company notes that as its cash flows and cash balances increase, its dividend will rise correspondingly as a percentage of cash flows and commensurate with increasing cash balances from cash flows and sources that supplement cash flows. The company will continue to reflect its dividend both on a per share basis and on a per ounce basis.

Yamana endeavours to create an optimal balance between the amount of the dividend that it pays and the sustainability of that dividend.

The company recognises that it could pay a substantially higher dividend by immediately utilising its cash reserves, but believes that at the new dividend floor and with its cash reserve fund it has the proper balance between the amount payable and dividend sustainability for now. Moreover, the company is confident that its cash flows and other cash generation efforts will support further dividend increases in due course.

The company will continue to engage regularly with investors to ensure it is maintaining an optimal balance between the amount payable and dividend sustainability.

Operational highlights

Jacobina continued its strong operational performance, with gold production of 44 080 oz, well above plan. The results reflect higher feed grade and strong throughput rates, which averaged 6800 tpd during the quarter. Phase 1 optimisation work has begun with the objective of improving processing rates and efficiencies.

El Peñón delivered another strong quarter, with gold production of 39 322 oz and silver production of 1.36 million oz. Production for both metals was above plan primarily due to the processing of higher grade ore, with silver production significantly overperforming due to mine sequencing in a high-grade area.

At Canadian Malartic, gold production of 76 398 oz was above plan due to increased throughput. The daily throughput rate underscores the consistency created by the newly installed advanced process control system as well as improvements in rock fragmentation that are decreasing the load on the grinding unit. In addition, softer rock is being processed thereby requiring less grinding power and consequently contributing to an increase in grinding capacity. During the quarter, throughput was significantly higher than the comparative prior year quarter despite the operation incurring two planned mill shutdowns for maintenance purposes. Excluding these shutdowns, throughput exceeded 60,000 tpd. Work on the exploration ramp into the Odyssey and East Malartic zones is progressing on schedule.

At Minera Florida, gold production of 23 153 o` was in line with plan, while quarterly development rates were the highest in 2 years, improving flexibility with a positive impact on throughput.

Cerro Moro produced 18 818 oz of gold and 1.68 million oz of silver during the quarter compared to 8175 oz and 730 571 oz, respectively, in the previous quarter. The operation is back to the standard throughput expectation of 1000 tpd, with productivity trending higher. Increasing production from the Zoe underground higher-grade mine in 4Q20 is expected to position Cerro Moro for its highest gold production quarter of the year.

4Q20 is expected to be the strongest quarter in line with historical trends.

Daily News Update Page 24

Australia seeks clarity from China on coal import ban Salomae Haselgrove

THE AUSTRALIAN Government has approached Chinese authorities for confirmation on

speculation that the nation is banning Australian coal imports.

Australian Minister for Trade, Tourism and Investment Simon Birmingham said the federal

government was “taking action and having discussions with China” after approaching authorities in the Asian nation overnight.

However, Birmingham has reiterated that the Australian Government has “no evidence to

suggest” that Chinese steel makers and power plants have been explicitly told to stop importing Australian coal.

“We have no evidence to suggest that is the case, but I’ve seen those reports,” Birmingham

said.

“We’re talking to the industry and we will continue to engage through officials with China to

try to secure reassurance on these matters.”

This is not the first time there has been speculation with regard to China importing Australian coal, as trade tensions between the two countries have continued throughout 2020.

However, Birmingham said that previous disruptions between the two nations have always

recovered as a result of various different factors, including the application of some domestic quotas in the Chinese system.

“I don’t want to get ahead of ourselves in terms of the speculation there but we are working with industry, taking action and having discussions with China,” he said.

“We’re taking the accusations at a value where we are at least engaging with the Chinese

system, seeking a response in relation to those claims that have been aired publicly and are working with Australian industry, as always, to try to save Australian jobs.”

Birmingham made clear that the Australian door remains open for discussion with the

Chinese Government about the export of coal for steelmaking, with coal remaining an important part of Australia’s export mix as a reliable energy source for countries throughout

Asia, including China.

In the 2019 financial year, Australia’s value of coal export was $69.6 billion.

During the 2018-19 financial period, China imported $14 billion worth of Australian coal.

Daily News Update Page 25

Jubilee delivers record copper production in the third quarter By: Simone Liedtke, Writer

AIM- and AltX-listed Jubilee Metals delivered both a record production and financial

performance in the third quarter, ended March 31, with the company having achieved its highest quarterly platinum group metals (PGMs) production, to date, of 15 044 oz.

The record PGMs production is supported by 136 162 t of chrome concentrate produced under tolling agreements from third-party ore suppliers.

Jubilee’s PGM and chrome operations delivered record quarterly operational earnings of £15.1-million, which surpasses the previous operational record set during the first six months of the 2020 financial year.

This operational performance reflects Jubilee’s successful drive to expand its operations by supplementing its own surface resources with third-party ore supply agreements in place to secure a sustainable business strategy.

In a statement on October 12, Jubilee confirmed that it continues to pursue additional opportunities to further expand its chrome and PGMs operational footprint and that its copper operations in Zambia continue to make significant progress.

The copper ore upgrade facility at Jubilee’s Sable Refinery is nearing completion as part of the overall expansion plan.

Additionally, all long lead items have been secured for the construction and implementation of Project Roan, which is set to more than double Jubilee’s copper production over the short term.

Jubilee announced in August that it has secured the rights to about two-million tonnes of copper run-of-mine (RoM) material with the potential of increasing the RoM to four-million tonnes, as well as a targeted 2.5-million tonnes of copper containing tailings.

Jubilee concluded a strategic partnership through a 50:50 joint venture (JV) to turn Project Roan to account.

As part of the partnership, Jubilee will build, own and operate the processing facility, while its JV partner will deliver the RoM and tailings at no cost to Project Roan. The JV partner is tasked with producing the copper concentrates, which will be sold on an arms-length basis, with Jubilee’s Sable Refinery holding the first right to such concentrate.

Under the JV, Jubilee may also secure and process its own third-party RoM at the Roan facility, which is targeting production of 10 000 t of equivalent copper units a year of copper concentrate for further refining.

In turn, this will support Jubilee’s rapid copper expansion strategy to increase capacity to more than 25 000 t/y of copper.

Further, as announced in June, Jubilee has also secured the rights to about 150-million tonnes of copper containing surface tailings, which are targeted to be upgraded at site and refined at its Sable Refinery. This will be done through a JV with the mining rights holder.

Daily News Update Page 26

The company’s technical and operational teams plan to build a copper concentrator at the tailings resource to produce two separate concentrates for both the acid soluble copper oxides and sulphide associated copper.

Project Elephant alone holds the potential to produce copper concentrates in excess of the total Sable Refinery capacity of 14 000 t/y of copper cathode.

Jubilee expects to release its audited results for the year to June 30, 2020, before the end of October.

Australia to lead technological integration in mining – report MINING.com Editor

THE ASIA mining landscape has faced a challenging outlook in 2020 with the covid-19

pandemic casting a shadow on mineral production growth as operations slow and metal prices disappointed, but Fitch Solutions says in its latest industry report it expects the worst to be over.

The analyst’s 2021 mineral production outlook for most countries in Asia show recovery compared to 2020, and in the long term, Fitch says Asia will continue to benefit from the availability of high-grade resources and low labour costs, although key countries will grapple with policy uncertainty, resource nationalism and environmental protection.

While in 2020, most miners have focused on operational safety and the health of their employees through minimising risks of covid-19 spread in their mines, Fitch believes miners will once again focus on improving efficiency and cutting costs through technological integration once the pandemic clears in late 2021.

Fitch’s outlook for Australian mineral production remains positive in 2021 as was in 2020 as major miners including BHP, Rio Tinto and Fortescue Metals Group faced no disruption as a result of covid-19. In Western Australia, mining employees have been exempted from travel restrictions so as to ensure smooth operations for miners.

Australia will spearhead the global as well as Asian miners’ race to utilise technology in order to cut costs, enhance efficiency and increase mine safety due to the country’s availability of strong network connectivity, power, highly skilled labour and government support, Fitch predicts.

The mining landscape is in the age of technological disruption today, where players are at the crossroads between a traditional past and a transformative future that is sustainable. Starting from cloud computing to new sensors, drones to ever more automation, and now the rise of machine learning and artificial intelligence, state-of-the-art mines have all the latest technological innovations embedded in their operations.