PTBA Targets 41.3 Million Tons Of Coal Production In 2024

JAKARTA - PT Bukit Asam Tbk (PTBA) targets coal production of 41.3 million tons, sales of 43.1 million tons, and transportation of 33.7 million tons.

"The company is planning by observing the latest market developments and anticipating various dynamic factors," said Bukit Asam President Director Arsal Ismai, Friday, March 8.

Meanwhile, throughout 2023, PTBA's total coal production reached 41.9 million tons or grew 13 percent compared to 2022 which was 37.1 million tons.

This production achievement managed to exceed the target of 41 million tons set in early 2023.

The increase in production was followed by an increase in coal sales volume to 37.0 million tons, an increase of 17 percent compared to the previous year.

"The company recorded export sales of 15.6 million tons, an increase of 25 percent compared to 2022. Meanwhile, domestic sales were recorded at 21.4 million tons or grew 12 percent on an annual basis (year on year)," continued Arsal.

He continued, the challenges for the Company this year include corrections to coal prices and market fluctuations.

The average price of ICI-3 coal was corrected by around 34 percent from USD 127.8 per tonne in January-December 2022 to USD 84.8 per ton on an annual basis.

Meanwhile, the Cost of Sales has increased, including components of royalty costs, rail transportation, and mining services.

Therefore, PTBA continues to strive to maximize market potential in the country as well as export opportunities to maintain good performance.

The Company also consistently prioritizes cost leadership in every line of companies, so that the implementation of sustainable efficiency can be carried out optimally.

In addition, the Company hopes that the formation of a Management Agency Partner (MIP) can be realized immediately and have a good impact on PTBA's financial performance.