Bukit Asam Claims To Exceed Coal DMO Target Of 9.4 Million Tons As Of June 2022

Illustration (Photo: Doc. Antara)

JAKARTA - PT Bukit Asam Tbk (PTBA) noted that in the first semester of 2022, the company's realization of the Domestic Market Obligation (DMO) was successfully fulfilled by 9.4 million tons as of June 2022.

In fact, PTBA has also succeeded in exceeding the DMO allocation target for this year which is in the range of 8 million tons.

PTBA President Director, Arsal Ismail, said PTBA was focused on prioritizing domestic coal needs. This can be seen from the portion of PTBA's coal fulfillment which is dominated by domestic supply by 60 percent.

"The realization of PTBA's DMO up to June has reached 9.4 million tons or 106 percent of the annual target. Where is our annual target based on the DMO which used to be 25 percent multiplied by 35.5 million tons, we found around 8 million tons", said Arsal to reporters at the Raffles Hotel, Jakarta on Friday, August 26.

If detailed, the achievement of 9.4 million tons is mostly allocated to PT PLN (Persero), which is 6 million tons.

Furthermore, Arsal said, the achievement was for June.

He believes that the number will increase by the end of the year.

Arsal emphasized that PTBA still prioritizes domestic needs, even though the price of world coal commodities is soaring.

The portion is 60 percent for the domestic market, while the other 40 companies will try to carry out export activities.

"So from the 60 percent, almost 80 percent or almost 85 percent, the sales will focus on the PLN group. The position until June specifically for PLN, we have 6 million tons from 9.4 million tons to the PLN Group, the remaining 3.4 million it goes to non-PLN to cement, fertilizer and then several other local industries", he said.

Previously reported, PT Bukit Asam Tbk (PTBA), a member of the Mining BUMN Holding MIND ID recorded a positive performance in Semester I 2022.

The company managed to record a net profit of IDR 6.2 trillion.

The profit gain increased by 246 percent compared to the same period last year or year on year (YoY) which was valued at IDR 1.8 trillion.

The net profit achievement in the first semester of 2022 was supported by revenues of IDR 18.4 trillion.

This achievement also increased by 79 percent over the same period last year.

The company's total assets as of June 30, 2022, amounted to IDR 35.9 trillion, while as of December 31, 2021, it was IDR 36.1 trillion.

Meanwhile, PTBA's total coal production during the first semester of 2022 reached 15.9 million tons, an increase of 20 percent compared to the first semester of 2021 which was 13.3 million tons.

PTBA's coal sales per Semester I 2022 was 14.6 million tons, growing 13 percent on an annual basis.