Bakrie-Owned Issuers, Bumi Resources Recorded An Increase In Coal Production To 77.8 Million Tons In 2023

Coal (photo: dock. intermediate)

JAKARTA - PT Bumi Resources Tbk (BUMI) reported a positive performance for coal production during 2023 which reached 77.8 million tons. This achievement increased from 2022 to 71.9 million tons.

The amount of coal production was contributed by BUMI and its subsidiaries, PT Kaltim Prima Coal and PT Arutmin Indonesia in the midst of the world economy which is still facing a slowdown in growth due to global economic challenges.

"We are trying to maintain the company's business continuity and map out realistic plans to be carried out in the coming years, so as to strengthen performance, both operationally and financially," said BUMI President Director Adika Nuraga Bakrie quoting Antara.

At the Annual General Meeting of Shareholders (AGMS) at the end of last June, BUMI said that the number of productions during 2023 was recorded to increase with the largest absorption in the domestic market followed by exports to China and India. Currently, BUMI is also the only national coal company that is not tied to debt.

It is known that in the midst of the turmoil in the world economy which is still not fully recovered and various dynamics that affect the mining industry, coal is still Indonesia's main export commodity, an important support for the country's economic growth, and supports national energy security.

The drastic climate change, high interest rate policy, and price reduction are several examples of factors that put pressure on coal demand during 2023. However, national coal production in 2023 reached 775.2 million tons, far exceeding the previously set target of 694.5 million tons.

He conveyed that BUMI's journey as one of the main players in the country's mining industry, which on June 26 entered its 51st year, certainly could not be said to be short. In addition to continuing to strengthen its commitment to supporting energy resilience and contributors to the country's economy, BUMI continues to strive to provide benefits to the environment.

"The company always ensures that business activities are managed on target, transparent, and functioning optimally by implementing Good Corporate Governance (GCG) practices that are integrated with Environmental, Social & Governance (ESG) principles," said Adika Bakrie.

"The Company always ensures that all business activities are carried out in the applicable legal corridor by respecting and fulfilling the rights of all stakeholders. BUMI's commitment to always meet the requirements of the Domestic Market Obligation or DMO is a form of accountability and compliance with the government regulations that are set," he said.

BUMI also continues to carry out cost efficiency consistently, increase productivity, harmonize the strategy and performance of its subsidiaries, and improve the use of digitalization to operational levels.

"With the business foundations and financial infrastructure getting stronger, we are optimistic that the Company can achieve positive and proud growth in the future," said Adika Bakrie.