Jakarta, - Mining company of the Bakrie and Salim Group, PT Bumi Resources Tbk (BUMI) is targeting a coal production volume of 80 million tonnes by 2025. 

‘BUMI's 2025 coal production plan is around 80 million tonnes,’ said BUMI Director Maringan M. Ido Hutna Hutabarat in a public expose, Wednesday (11/12).

Ido mentioned that the total production of 80 million tonnes came from two subsidiaries, namely PT Kaltim Prima Coal (KPC) which contributed 55 million tonnes, and PT Arutmin Indonesia (AI) as much as 25 million tonnes.He projected that BUMI's coal price next year will not differ much from the price in 2024, which is GCNEWC at around US$ 130 per tonne to US$ 140 per tonne.

According to him, market conditions in 2025 will not be much different from 2024. There is no significant difference in terms of supply and demand.

‘What needs to be considered in 2025 is imports from China. If there is a decrease in imports from China, this will affect the sales price of coal. Meanwhile, we predict that Chinese imports in 2025 will be more or less the same as in 2024,’ he explained.

Meanwhile, BUMI's Vice President Investor Relations and Chief Economist, Ahmad Reza Widjaja revealed that next year's production target increased by around 4 million tonnes compared to BUMI's coal production volume in 2024 which is projected at 76 million tonnes.

Ahmad also explained that the maximum coal price is at US$ 78 per tonne and the lowest at US$ 68 per tonne throughout 2024.

In addition, Ahmad also explained that BUMI's total supply for the domestic market reached 31% in the first nine months of this year. Followed by China and India, at 26% and 19% respectively.

‘Then countries such as Japan, Vietnam and Hong Kong range from 1% to 7%,’ he said.

Quasi reorganisation plan

On the same occasion, BUMI could not confirm when this quasi-reorganisation action could be realised. 

‘Of course, we continue to strive to be able to carry out this quasi plan, so that it can be in accordance with applicable regulations. If the quasi can be carried out, it will definitely be better for the company and also for shareholders,’ said BUMI Director Sri Dharmayanti.

Even so, management emphasised that BUMI endeavours to be able to distribute dividends after the quotation is completed.

‘We hope this quota plan can be done, because we want to pay dividends to shareholders,’ added BUMI Director Andrew Beckham.

As is known, one of the objectives and benefits of quasi reorganisation is to improve the equity structure by eliminating accumulated losses (deficit). With no deficit balance, BUMI can distribute dividends.

Meanwhile, BUMI plans to eliminate the accumulated loss by using the agio share position, which is the excess difference between the paid-up capital and the nominal value of the shares.