Jakarta,- State-owned mining company PT Bukit Asam Tbk (PTBA) is reviewing the acquisition of new coal mines. This was done as one of PTBA's strategies to improve performance. 

PTBA President Director Arsal Ismail said PTBA continues to actively seek opportunities to acquire new mines that provide positive value for PTBA. Some time ago there were several projects that were tendered by the government and offered to PTBA. 

"PTBA will certainly enter mines that provide positive value for PTBA," Arsal said in Jakarta, Friday (8/3/2024). 

PTBA will follow and make acquisitions by looking at the economic feasibility of the mine itself. He also said PTBA would not add a new mine portfolio by acquiring low-calorie coal mines.

"We are also reviewing acquisitions for other private mines," he said. 

Meanwhile, PTBA Corporate Secretary Niko Chandra said the company was planning by looking at the latest market developments and anticipating various dynamic factors. 

"In 2024 PTBA targets coal production of 41.3 million tons, sales of 43.1 million tons, and transportation of 33.7 million tons," Niko said in his official statement, Friday (8/3/2024).  

As is known, throughout 2023 PTBA produced 41.9 million tons of coal, growing 13% compared to 2022 which amounted to 37.1 million tons. This production achievement exceeded the target of 41 million tons set at the beginning of 2023.  

The increase in production was followed by an increase in coal sales volume to 37 million tons, up 17% compared to the previous year. PTBA also recorded export sales of 15.6 million tons, up 25% compared to 2022.  

Meanwhile, domestic sales were recorded at 21.4 million tons or grew 12% year on year (YoY). 

Bukit Asam Director Farida Thamrin said PTBA's capex in 2024 was at a normal level, at Rp2.9 trillion. According to her, this capex will be budgeted for several things. 

"First, this year we will budget capex for working logistics," Farida said in Jakarta, Friday (8/3/2024).

 This means, she continued, PTBA's coal reserves can begin to be sold by increasing transportation capacity. 

In addition, PTBA's capex will also be allocated for operational infrastructure needs and will be allocated to PTBA's subsidiaries. 

Sources : market.bisnis.com- Mar 11.24