Bumi Resources (BUMI) Aims for 82 Million Tons of Coal Production This Year

Jakarta,- PT Bumi Resources Tbk (BUMI) is aiming for coal production of around 80 million-82 million tons this year. In 2023, this Bakrie Group issuer targets coal production of 78-80 million tons. BUMI is the largest coal producer in Indonesia.

Director and Corporate Secretary of PT Bumi Resources Tbk (BUMI) Dileep Srivastava said, BUMI's coal production in the last two months reached around 13 million tons.

This year, his party targets production to reach the range of 80 million-82 million tons of coal, up from the previous 78 million tons of coal. The coal comes from its two subsidiaries, PT Arutmin Indonesia (AI) and PT Kaltim Prima Coal (KC).

Dileep believes that it is currently difficult to predict coal prices. According to him, coal prices looked depressed in January-February due to market factors, supply and demand imbalance, China & India demand, domestic production, geo politics.

"However, weather conditions in China which are approaching summer, rainy season, and the risk of flooding and winter have the potential to affect coal prices positively," he told KONTAN, Friday (8/3).

Dileep added, BUMI has prepared a capex of US$ 80 million - USD 100 million this year. If coal prices rise, BUMI will consider more capex allocations for exploration.

Sources : djakarta-miningclub.com  Jul 04.24

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