Jakarta,- PT Bumi Resources Tbk (BUMI) managed to produce 77.8 million tons of coal, up from 71.9 million tons in 2022. The amount of coal production is 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.
President Director of BUMI, Adika Nuraga Bakrie in a press release in Jakarta yesterday said that the company seeks to maintain the company's business continuity and map out realistic plans to be carried out in the coming years, to be able to strengthen performance, both operationally and financially.
At the annual general meeting of shareholders (AGMS) at the end of last June, BUMI said that the amount of production 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 bound by debt.
It is known that in the midst of turmoil in the world economy which has not yet fully recovered and various dynamics that affect the mining industry, coal is still the main commodity for Indonesia's exports, becoming an important support for the country's economic growth, as well as supporting national energy security. Drastic climate change, high interest rate policies, and price declines are some examples of factors that cause coal demand to experience pressure during 2023.
Nevertheless, national coal production in 2023 will reach 775.2 million tons, far exceeding the previously set target of 694.5 million tons. He said 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 cannot be said to be short. In addition to continuing to strengthen its commitment to supporting energy security and contributing to the country's economy, BUMI continues to strive to provide benefits for the environment." The Company always ensures that business activities are managed in a targeted, transparent, and optimal manner by implementing Good Corporate Governance (GCG) practices that are integrated with Environmental, Social & Governance (ESG) principles," said Adika.
The Company always ensures that all business activities are carried out within 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 government regulations that have been set," he said.
BUMI also continues to consistently perform cost efficiency, increase productivity, align the strategies and performance of subsidiary entities, and improve the use of digitalization to the operational level." With a stronger business foundation and financial infrastructure, we are optimistic that the Company can achieve positive and proud growth in the future," explained Adika Bakrie.
Sources : djakarta-miningclub.com Jul 18.24