Jakarta,- Sinarmas Group coal issuer PT Golden Energy Mines Tbk (GEMS) projects that coal prices will remain stable in 2025. 

Director of Golden Energy Mines Suhendra explained that with relatively abundant reserves, coal is still one of the supports for energy sources in Indonesia, both for electricity and other industries. 

‘Despite the increasingly vigorous demands for the transition from fossil to renewable energy, coal demand, both domestic and export, is expected to remain quite high in 2025,’ said Suhendra, Thursday (5/12/2024). 

He continued that the condition of thermal coal prices at the end of November and early December 2024 tended to stabilise. GEMS also estimates that the coal price trend will not fluctuate significantly.

‘On the other hand, the opportunity to find new markets for export remains open, especially in Southeast Asia,’ said Suhendra. 

As for next year, Suhendra said GEMS will always carry out superior mining operational strategies and regular cost monitoring. This is so that GEMS can maximise the company's performance.

For information, GEMS recorded coal production of 38.4 million tonnes by the end of September 2024. Meanwhile, GEMS' coal sales until the end of September 2024 were 38.2 million tonnes. 

GEMS recorded a net profit of US$397.39 million by the end of September 2024. This net profit increased from the same period the previous year of US$386.3 million.

Sources : www.market.bisnis.com Dec 05.24