MIND ID is considered successful in encouraging and integrating synergy between subsidiaries in developing downstream to provide added value. The value of each subsidiary also increases.
“MIND ID has made various efforts to realize the downstream transformation of the mining industry. Including increasing cooperation between subsidiaries,” said MIND ID Portfolio and Business Development Director Dilo Seno Widagdo, quoted from a written statement, Monday, December 18 2023.
If you look at the latest progress, continue he, MIND ID has developed downstream development projects , including the world’s largest single line copper smelter owned by PT Freeport Indonesia. This smelter is located in the Java Integrated Industrial and Ports Estate (JIIPE) area, Gresik, East Java, with a total area of around 100 hectares.
Another downstream project, PT Aneka Tambang Tbk (Antam), as a member of MIND ID, has built a ferronickel smelter in Kolaka (Southeast Sulawesi) and a ferronickel smelter in East Halmahera (North Maluku). If both are operational, Antam’s ferronickel production capacity can increase to 40,500 tons per year.
Meanwhile, MIND ID member PT Indonesia Asahan Aluminum (Inalum) is also making downstream efforts by forming a subsidiary, Indonesia Aluminum Alloy (IAA) to maximize production of secondary aluminum billets with a printing capacity of 50 thousand tons per year. In the future, this subsidiary is also intended to produce various derivative products, such as aluminum extrusions.
More than this, a project between MIND ID’s subsidiaries also succeeded in creating a Smelter Grade Alumina Refinery (SGAR) in Mempawah, West Kalimantan. This project from Antam and Inalum through PT Borneo Alumina Indonesia (BAI) processes bauxite into alumina which is the raw material for making aluminum with a capacity of one million tons.
Inalum is also focused on working on the Port Upgrading Project and Brownfield Project with Emirates Global Aluminum (EGA). Inalum seeks to maximize downstream aluminum products so that they can be multiplied.
Regarding the tin metal and mineral sector, PT Timah Tbk has the Top Submerged Lance (TSL) Ausmelt Furnace project with an investment cost of up to USD80 million. Through this technology, the company can process tin with low levels of up to 40 percent. This smelter project allows the company to increase the level of tin produced, thus encouraging accelerated domestic downstreaming related to the availability of tin minerals as a commodity. Apart from that, it is also hoped that this smelter will increase the added value of domestic tin processing, increase the production of tin variants, and create more jobs. MIND ID also collaborates with strategic partners from within and outside the country to realize industrialization. This can be seen from the development of the electric vehicle business which is able to cover the Asia Pacific region through PT Industri Battery Indonesia or Indonesia Battery Corporation (IBC). Due to this success, MIND ID received the Best mining Downstream Transformation award from the 2023 CNBC Indonesia Awards. MIND ID hopes to continue to innovate in the future. “This award is a challenge for MIND ID to continue to progress, develop and innovate,” concluded Dilo.
Image source >>> MI/Angga Yuniar
Source >>> https://www.medcom.id/ekonomi/bisnis/GNlP2yGN-demi-nilai-tambah-mind-id-terus-pecut-anak-usaha-kembangkan-hilirisasi
Source https://djakarta-miningclub.com