Skripsi

PERBANDINGAN STRATEGI PEMBIAYAAN EQUITY FINANCING DAN DEBT FINANCING PROYEK TAMBANG KOMODITAS SILIKA DI PT MINEVESTING RESOURCES INDONESIA

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Penilaian

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The research was conducted on the silica mining project of PT Minevesting Resources Indonesia, which is still at the feasibility study stage, with the main focus on evaluating the optimal financing strategy through a comparison between equity financing and debt financing. The analysis was carried out using a quantitative approach based on projected cash flows with two key parameters, namely Net Present Value (NPV) and Internal Rate of Return (IRR), both of which are strongly influenced by the cost of capital or the Weighted Average Cost of Capital (WACC). The calculation shows that with a total initial investment cost of IDR 11.07 billion, which increased to IDR 12.73 billion due to a 15% contingency and escalation, as well as operating costs of IDR 23.68 billion, the project has the potential to generate a Revenue of IDR 58.83 billion, Working Capital of IDR 1.25 billion, and Net Cash Flow of IDR 15,36 billion with a payback period from the first CAPEX of 2 years and 6 months.The capital structure analysis indicates that debt-based financing can reduce WACC due to the benefit of the tax shield, with the lowest WACC recorded at 7.62% in the 60% debt structure, significantly lower than the pure equity scenario, which recorded the highest WACC of 12.67%. This demonstrates that capital structure plays a significant role in improving the financial feasibility of the project. Based on the analysis results, the most recommended financing structure is a combination of debt and equity in line with the Trade-off Theory, as it considered capable of lowering the cost odf capital through a reduced WACC, increasing the NPV, while maintaining the company's solvency. This structure provides a balance between cost efficiency and risk mitigation, making it more adaptive to market dynamics and commodity price fluctuations. The study emphasizes that the company should avoid 100% equity financing due to inefficiency and ensure that the IRR always exceeds the WACC for the project to be deemed feasible.

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Availability

Inventory Code	Barcode	Call Number	Location	Status
2507006198	T185509	T1855092025	Central Library (Reference)	Available but not for loan - Not for Loan

Detail Information

Series Title

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Call Number

T1855092025

Publisher

Indralaya : Prodi Teknik Pertambangan, Jurusan Pertambangan dan Geologi Fakultas Teknik Universitas Sriwijaya., 2025

Collation

xv, 104 hlm.; ilus.; tab.; 29 cm.

Language

Indonesia

ISBN/ISSN

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Classification

332.07

Content Type

Text

Media Type

unmediated

Carrier Type

other (computer)

Edition

-

Subject(s)

Prodi Pertambangan dan Geologi
Strategi Pembiayaan

Specific Detail Info

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Statement of Responsibility

MI

Other version/related

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