The Demands of the Times, ITMG Diversifies into the Nickel Mining Sector

Yulis continued, ITMG’s entry into the nickel mining sector was an effort to transition the non-coal business due to the demands of the times. Apart from that, business diversification into the nickel sector is also the direction of a conglomerate company from Thailand, namely Banpu Minerals (Singapore) Private Limited, which is the main shareholder of ITMG.

For information, Banpu has already diversified from initially only dealing with the coal business and shifting to the nickel and electric vehicle sectors.

Previously, Indo Tambangraya Megah (ITMG) also stated that it was ready to support the development of the national capital (IKN) by providing electricity supply from solar power plants.

In 2020, Indominco Mandiri has started operating a PLTS at a 3 hectare coal mine site, which uses the largest smart microgrid technology in Indonesia with a capacity of 3 MW with 2MW of stored energy.

Era explained that the company has a large area for PLTS, so that it can support the supply of electricity to IKN. He added that his subsidiary has a potential of 100 MW PLTS.

Era added that in running his business around 50% of the electricity for IMM’s coal mining operations comes from PLTS. To smooth out the plan, ITMG is issuing capex (capital expenditure) of USD 1 million for 1 MW.

Until March 2023, ITMG posted a net profit of USD 182.71 million, this figure decreased by 14.32% from the realization in the same period the previous year which was recorded at USD 213.27 million. Meanwhile, the company’s revenue in the first three months of this year was recorded at USD 685.58 million, up 7.13% from the same period the previous year which amounted to USD 639.93 million.


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