The Indonesian government recently announced a proposal to revamp the royalty schemes for natural resources.

METALS AND MINING Michael Wildon Ng Edward Prima

We like INCO for its vast nickel resources and extensive concession areas

METALS AND MINING INCO INCO JK INCO IJ Michael Wildon Ng Edward Prima

ANTM's 4Q operational results indicate a strong FY24 earnings outlook, with projected earnings of >IDR3tn,

METALS AND MINING ANTM ANTM JK ANTM IJ Michael Wildon Ng Edward Prima

NCKL booked an outstanding 3Q result, with 9M24 earnings comprising 90% of our forecas

Metals Mining NCKL NCKL JK NCKL IJ Michael Wildon Edward Prima

We hosted several investor meetings at our annual Verdhana-Nomura Conference on 7-8 Nov 2024. The companies in

Metals Mining Michael Wildon Edward Prima

ANTM’s subsidiary, PT Gag Nikel (PTGN, unlisted), has announced a 30% stake acquisition of a Tsingshan-owned R

Metals Mining ANTM JK ANTM IJ Michael Wildon Edward Prima

All local nickel producers under our coverage posted significant margin recoveries following the rise in

Mining Nickel Michael Wildon Edward Prima

ANTM recorded a strong earnings recovery in 2Q24, with profits surging 450% q-q and 479% y-y.

Mining ANTM Michael Wildon Edward Prima

Overall results were above our projections, with 2Q24 profit of IDR1.8tn (+80% q-q), bringing 1H24 profit to

NCKL JK NCKL IJ Mining Michael Wildon