Bakrie BUMI's Issuers Produce 37.7 Tons Of Coal During Semester I/2024, Up 7 Percent

Illustration (Photo: Doc Antara)

The Bakrie Group coal issuer, PT Bumi Resources Tbk (BUMI) during the first semester of 2024 recorded the highest number of productions among industries in the same sector in the country.

During the first half of this year, BUMI had produced 37.7 million tons of coal, up 7 percent from the same period the previous year, which was 35.4 million tons.

"This increase in production is driven by better contractor performance, as well as conducive weather, namely relatively low rainfall in the KPC mining area (PT Kaltim Prima Coal, a subsidiary of BUMI)," said BUMI Director Dileep Srivastava as reported by ANTARA, Friday, September 20.

Dileep explained, this year BUMI targets coal production to reach 78 million to 82 million tons, and his party is quite optimistic that this figure can be met.

"If the weather is good in the second half of this year, maybe we can improve it," he said.

The increase in production also affected sales performance which increased to reach 37 million tons during the first six months of 2024.

Meanwhile, in the same period in 2023, the recorded figure was 34.6 million tons.

In line with this production figure, BUMI also has the largest contribution as a supplier of energy supporting the country's electricity needs through PLN, as well as the cement industry, and fertilizers.

This is in line with BUMI's commitment to prioritize Domestic Market Obligation (DMO) with a percentage exceeding 25 percent before exporting.

The company is also the highest contributor to royalties to the country, compared to other companies in the sector, which reached 32 percent of its gross revenue last year.

In an effort to meet the national coal production target from the government, which is close to 1 billion tons this year, BUMI and coal issuers continue to spur production improvement performance.

Based on data from the Mineral One Data Indonesia (MODI) of the Ministry of Energy and Mineral Resources (ESDM), until August 28, 2024, the realization of national coal production has reached 518.30 million tons or about 73 percent of the set target.

The top 3 mining issuers with the highest number of coal production in the first semester of 2024 were PT Bumi Resources Tbk (BUMI) 37.7 million tons, PT Adaro Energy Tbk (ADRO) 35.74 million tons, and PT Golden Energy Mines, Tbk. (GEMS) 24.8 million tons.