The coal production forecast for PT Bukit Asam Tbk (PTBA), which is part of the state-owned mining industry conglomerate MIND ID, has received the green light from the government. This approval comes in the form of the accepted Work Plan and Budget (RKAB) which outlines PTBA’s operations extending up to the year 2026.
Arsal Ismail, PTBA’s CEO, revealed that the company’s RKAB has been sanctioned by the Ministry of Energy and Mineral Resources (ESDM) to span three years, specifically 2024, 2025, and 2026. As a result of this endorsement, PTBA has set its sight to elevate its coal production to an impressive 60 million tons by the year 2026, which marks a substantial increase from the current 41 million tons produced annually.
During an annual general meeting of shareholders in Jakarta, Arsal commented, “The RKAB for the next three years – 2024, 2025, and 2026, has been approved.” He further elucidated the anticipated progression in coal output: for 2024, the company has an approved production target of 41 million tons; this figure is set to rise to 50 million tons in 2025 and aims to jump to approximately 60 million tons in 2026.
In addition to boosting production, PTBA also plans to expand its market reach across several Asian countries, including Vietnam, Cambodia, China, India, and Japan. These countries have demonstrated an expanding coal market.
PTBA has already showcased its exporting prowess by shipping out 15.6 million tons of coal internationally and supplying 21.4 million tons to the domestic market in 2023. Financially, this vigorous trading led to a stellar net profit of Rp 6.1 trillion, with revenue reaching Rp 38.5 trillion in 2023.
During the shareholders’ meeting, a consensus was reached to distribute dividends amounting to 75% of the 2023 net profit, which equates to Rp 4.58 trillion. Accordingly, investors are set to receive a dividend payout of Rp 397.51 per share. The remaining 25% of the net profit, which accounts for roughly Rp 1.53 trillion, has been earmarked as retained earnings.
These financial decisions and production goals position PTBA as a solid player in Indonesia’s commodities market, highlighting the country’s ongoing growth and development within the coal industry.
