Jakarta, CNBC Indonesia – Indonesia is blessed with abundant natural resources (SDA), including for mineral mining commodities such as nickel and gold, as well as coal. The stored ‘treasure’ of mining commodities amounts to billions of tons.
Realizing that there are many ‘treasures’ stored in the country, the government has decided to oblige the downstreaming of mining commodities, so that they are not sold in the form of ‘raw goods’ from mining products, but have greater added value.
This starts with processing mineral commodities through processing and refining facilities (smelters), then building a battery component factory, to plans to become a battery player to world-class electric vehicles.
Likewise in the coal sector. President Joko Widodo (Jokowi) also requires coal producers to enter the downstream coal industry such as coal gasification into Dimethyl Ether (DME) to replace coal. liquefied petroleum gas (LPG), methanol, increased coal content (coal upgrading), to coal liquefaction.
Thus, Indonesia is no longer dependent on the sale of ‘raw goods’, but processing and downstream products with a higher selling value.
Moreover, currently a number of mining commodities are experiencing a super cycle in which prices spike sharply and are expected to last for a long time. So, who will benefit from this condition?
Here, CNBC Indonesia summarizes the largest Indonesian mining commodity producers, citing data from the Ministry of Energy and Mineral Resources (ESDM):
For gold commodities, the resources are recorded at billions of tons. Based on data from the Geological Agency of the Ministry of Energy and Mineral Resources (ESDM), the status as of July 2020, Indonesia’s gold resources reached 15.05 billion tons and gold reserves reached 3.56 billion tons.
Although the potential is great, the production is not too high.
Based on data from Minerba One Data Indonesia (MODI) of the Ministry of Energy and Mineral Resources quoted by CNBC Indonesia, Thursday (08/07/2021), the trend of gold production in recent years has shown a decline.
In 2018 gold production reached 135.29 tons, but fell in 2019 to only 109.02 tons. Then during the pandemic in 2020, production dropped drastically to only 28.88 tons. Then, in 2021 it is targeted to produce only around 31.67 tons.
Realization of gold production based on the latest data as of today, Thursday (08/07/2021), national gold production has only reached 10.57 tons or 33.38 percent of the target of 31.67 tons.
In detail, gold production from month to month, namely, January was 2.17 tons, increased in February by 2.38 tons, fell in March to 1.94 tons, fell again in April to 1.88 tons, fell again May 1 .67 tons and the last June data was 0.54 tons.
The following is a list of the five companies with the largest gold production in Indonesia today, as quoted from data from the Ministry of Energy and Mineral Resources:
1. PT J Resources Asia Pasifik Tbk (PSAB)
PT J Resources Asia Pacific Tbk (J Resources) is a holding company based in Indonesia. Operate, mine, explore and invest in the gold mining sector.
Gold production in an area of 38,150 hectares is located in Bolaang Mongondow Regency, East Bolaang Mongondow Regency, and South Bolaang Mongondow Regency, North Sulawesi.
2. PT Agincourt Resources
PT Agincourt Resources is an Indonesia-based mining company engaged in the exploration, mining and processing of gold and silver ingots.
Gold production in an area of 130,252 hectares is located in the Regencies of Central Tapanuli, North Tapanuli, South Tapanuli, and Mandailing Natal, North Sumatra.
3. PT Bumi Suksesindo
PT Bumi Suksesindo is a domestic investment company with the main activity of producing gold and copper. Located in Sumberagung Village, Pesanggaran District, Banyuwangi Regency, East Java. Located on an area of 4,998 hectares.
4. PT Meares Soputan
PT Meares Soputan operates in a mine of 8,969 hectares located in the North Minahasa Regency and Bitung City, North Sulawesi.
5. PT Indo Muro Kencana
PT Indo Muro Kencana is mining in Murung Raya Regency, Central Kalimantan, on an area of 47,940 hectares.
Keep in mind, for PT Freeport Indonesia, although it also produces gold, data from the Ministry of Energy and Mineral Resources includes Freeport as a copper manufacturer. For copper producers, PT Freeport Indonesia is undeniably the largest Indonesian copper producer.