Jakarta, CNBC Indonesia – The share prices of three mineral mining issuers were observed to have strengthened in trading on Tuesday (17/11) and in the last 3 months amid news of the government’s plan to form a holding called PT Indonesia Battery to operate an electric vehicle battery factory.
The three shares are PT Aneka Tambang Tbk (ANTM) or Antam, PT Timah Tbk (TINS), and PT Vale Indonesia Tbk (INCO).
Both Antam and Timah are under the MIND ID Mining Holding (PT Indonesia Asahan Aluminum / Inalum), while MIND ID also owns a 20% stake in INCO.
Trading data from the Indonesia Stock Exchange (IDX) noted that on last Tuesday (17/11), Antam’s shares closed up 0.42% at the level of IDR 1,190 / share, with a transaction value of IDR 360.30 billion, and trading volume of 300.73. million shares.
TINS shares also closed up 0.95% at Rp 1,065 / share, with a transaction value of Rp 164.49 billion, and a trading volume of 151.95 million shares.
Meanwhile, INCO’s shares rose 1.78% to IDR 4,580 / share with a transaction value of IDR 144.09 billion and a trading volume of 31.04 million shares.
ANTM, TINS, & INCO Stock Movements, 17 November 2020
|
Stock |
1 day (%) |
1 month (%) |
3 months (%) |
6 months (%) |
|
ANTM |
Rp.1,190 (+0.42) |
+27,27 |
+44,24 |
+133,33 |
|
TINS |
Rp. 1,065 (+0.95) |
+28,31 |
+34,81 |
+128,54 |
|
INCO |
IDR 4,580 (+1,78) |
+16,55 |
+25,82 |
+78,21 |
Sumber: AT
Both Antam and TINS, together with PT Bukit Asam Tbk (PTBA) are under the BUMN Mining Holding with the parent, Inalum.
It’s just that PTBA’s shares on Tuesday’s trading closed at 9.95% at Rp 2,110, the last month it only rose 4.98%.
The strengthening of ANTM-TINS-INCO’s share price has not just happened. The news of Holding Indonesia Battery has been able to raise the price of the three shares from the start.
“There is even a possibility that we will increase our target price for ANTM because we think that ANTM will benefit a lot from the Holding Indonesia Battery company program. Our latest target price for ANTM is set at Rp 960 per share,” said Andy Wibowo Gunawan, research analyst at PT Mirae Asset. Indonesian Securities, quoted on Wednesday (18/11).
The price target has indeed been exceeded, considering Andy’s research was released on November 2.
Previously, BUMN Minister Erick Thohir mentioned two battery manufacturers electric vehicle The world’s largest (EV) is currently interested in joining Indonesia’s nickel downstream plan through the construction of an EV battery factory.
The electric vehicle battery factory project is estimated to be worth US $ 20 billion (Rp 296 trillion, assuming an exchange rate of Rp 14,800 / US $). The value is greater than the estimated MIND ID of US $ 12 billion.
Erick said the two companies were Contemporary Amperex Technology Co. Ltd (CATL) from China and LG Chem Ltd from South Korea. The two companies are the world’s largest producers of EV batteries for electric vehicles.
“This is a breath of fresh air. Indonesia’s efforts, which have abundant mining wealth to downstream the mineral and coal industry, immediately received a good response from foreign investors,” said Erick in his press release, Wednesday (14/10/2020).
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