PT BUKIT ASAM TBK Jakarta, April 29, 2023 - PT Bukit Asam Tbk (PTBA), a member of the MIND ID Mining BUMN Holding, maintained positive performance in Semester I 2023.
The Company had a net profit of Rp2.8 trillion in the first six months of 2023. In terms of revenue, PTBA reported Rp18.9 trillion or 2% increase over the same time last year. The company's total assets as of 30 June 2023 amounted to Rp46.3 trillion, compared to Rp45.4 trillion as of 31 December 2022.
The achievement of net profit was supported by an increase in the Company's operational performance throughout the first semester of 2023. PTBA's total coal production in the first semester of 2023 reached 18.8 million tons, growing 18 percent compared to the same period in 2022 of 15.9 million tons.
The increase in production corresponded to a 19% increase in coal sales volume to 17.4 million tons. The Company generated export sales of 7.1 million tons in Semester I 2023, a 37 percent increase over the same period the previous year. Meanwhile, the Domestic Market Obligation (DMO) realization was 57 percent.
This year has presented the Company with a number of challenges, including the correction of coal prices and market fluctuations. ICI-3 coal prices decreased by around 48 percent from USD 138.5 per ton in June 2022 to USD 72.63 per ton in June 2023.
On the other hand, Cost of Goods Sold increased, including the components of royalty fees, rail transportation and mining services.
Therefore, PTBA continues to strive to maximize the potential of the domestic market as well as export opportunities to maintain positive performance. The company also consistently prioritizes cost leadership in every line of the company, so that the implementation of sustainable efficiency can be carried out optimally.
In addition, the Company expects that the establishment of Management Agency Partners (MIP) can be realized soon, which will have a positive impact on PTBA's financial performance.
Progress of Development Project
Coal Downstreaming
In line with the vision of becoming a world-class energy and chemical company that cares about the environment, PTBA is committed to supporting government policies that encourage coal downstream and maintain national energy security. The company has obtained a coal-based Industrial Estate permit or Bukit Asam Coal Based Industrial Estate in Tanjung Enim with an area of 585 Ha, and is currently in the process of establishing a Special Economic Zone (KEK).
The company, in collaboration with potential partners, has provided land for the development of the downstream industry. In addition, PTBA has allocated the coal reserves specifically for the downstream projects, ensuring that the downstream industry's need for coal is met.
Steam power plant
PTBA through PT Huadian Bukit Asam Power (HBAP) as an Independent Power Producer (IPP) is building the Sumsel-8 Mine Mouth PLTU with a capacity of 2x660 MW, also known as the Tanjung Lalang PLTU. HBAP is a consortium between PTBA and China Huadian HongKong Company Ltd.
The Power Plant, which would require around 5.4 million tons of coal per year, has reached a building progress of 97 percent. The power plant is expected to go commercial in September 2023.
Renewable Energy Development
The company's business expansion into the new and renewable energy sector continues, in line with its vision of becoming a world-class energy and chemical company that cares about the environment. The company continues to transform through business diversification in order to become an integrated and sustainable world-class energy and chemical company and one of them is by entering the new renewable energy (NRE) business.
PTBA's efforts to reduce global carbon emissions is manifested in its synergy with PT Jasa Marga (Persero) Tbk through Solar Power Plant instalment with a capacity of 400 Kilowatt-peak (kWp) on the Jasa Marga Group toll road. The construction of the Bali Mandara Toll Road Solar Power Plant, which was inaugurated on September 21, 2022, is proceeding very well, resulting in positive benefits in terms of energy efficiency and operational costs, as well as, of course, contributing to support Indonesia's G20 Presidency in November 2022, one of which focuses on the issue of energy transition.
Previously, PTBA has built a solar power plant at Soekarno Hatta Airport in collaboration with PT Angkasa Pura II (Persero). The solar power plant, which has been fully operational since October 2020, consists of 720 solar panel systems, with photovoltaics of 241 kilowatt-peak (kWp) maximum capacity, and is installed in the Airport Operation Control Center (AOCC) Building.
Not only develops business in the NRE sector, PTBA also runs a Solar Power Plant development program to activate agricultural irrigation pumps to improve the welfare of the people around the company's work area.
The solar irrigation program is PTBA's effort to encourage the use of renewable energy, empower the community, while preserving the environment. The use of Solar Power Plant as an energy source for irrigation pumps can increase the frequency of harvests and farmers' annual yield. With solar irrigation, farmers can harvest up to three times a year. To date, 6 Solar Power Plant irrigations with a total capacity of 192 kWp have been installed across South Sumatra, Lampung, and West Sumatra.
Coal Transport Project
PTBA collaborated with KAI in coal transport project as to meet the Company's target to increase coal transportation capacity by railway to 72 million tons per year in 2026. Tanjung Enim - Keramasan coal transport with a capacity of 20 million tons per year is under development, with PTBA's scope including the Train Loading System and Coal Handling Facility and PT KAI's scope including preparing the wharf and transportation facilities (carriage). This railway is scheduled to be operational in the fourth quarter of 2024.
In addition, in order to support SOE Synergy Collaboration in the Coal Supply Chain to Increase National Electricity Resilience, PTBA, KAI, and PLN signed Head of Agreement on February 16, 2022, to develop coal transportation to Perajen Pier with transport capacity of 20 million tonnes per year, with an expected operational date in the third quarter of 2026.
Carbon Management
To support the Government in achieving the Net Zero Emission target in 2060, PTBA implements Good Mining Practice with decarbonization programs.
PTBA reclamation area had reached 2,151.84 hectares (ha) as of December 2022 and 2,689,800 trees have been planted on the area. Various types of trees planted include Sengon, Teak, Mahogany, Eucalyptus, Acacia, Angsana, Merbau, Bamboo, Jabon, Pinus, Johar, Lonkida, Gamal, Saga, Pulai, Trembesi, Waru, Cashew, Bayur, Matoa, and Laban.
Not only land reclamation, PTBA has implemented a number of decarbonization activities in addition to land reclamation. In terms of operations, the company uses Eco Mechanized Mining, which involves replacing mining equipment that consumes fossil fuels with electricity. PTBA has deployed several electric-powered machines, including Shovel PC-3000 Electric Excavators, 100 Ton hybrid Class Dump Trucks (Diesel and Electric), and Electric-based Mining Pumps. PTBA has also operated electric buses at Tarahan Port and Tanjung Enim Mining Unit
In addition, the company uses an E-Mining Reporting System, which is a real-time and online production reporting system, to reduce conventional monitoring that uses fuel.
These decarbonization programs are part of PTBA's carbon management roadmap until 2050, which will be implemented and developed in every line of the company in a sustainable manner to give optimal results.
The Company had a net profit of Rp2.8 trillion in the first six months of 2023. In terms of revenue, PTBA reported Rp18.9 trillion or 2% increase over the same time last year. The company's total assets as of 30 June 2023 amounted to Rp46.3 trillion, compared to Rp45.4 trillion as of 31 December 2022.
The achievement of net profit was supported by an increase in the Company's operational performance throughout the first semester of 2023. PTBA's total coal production in the first semester of 2023 reached 18.8 million tons, growing 18 percent compared to the same period in 2022 of 15.9 million tons.
The increase in production corresponded to a 19% increase in coal sales volume to 17.4 million tons. The Company generated export sales of 7.1 million tons in Semester I 2023, a 37 percent increase over the same period the previous year. Meanwhile, the Domestic Market Obligation (DMO) realization was 57 percent.
This year has presented the Company with a number of challenges, including the correction of coal prices and market fluctuations. ICI-3 coal prices decreased by around 48 percent from USD 138.5 per ton in June 2022 to USD 72.63 per ton in June 2023.
On the other hand, Cost of Goods Sold increased, including the components of royalty fees, rail transportation and mining services.
Therefore, PTBA continues to strive to maximize the potential of the domestic market as well as export opportunities to maintain positive performance. The company also consistently prioritizes cost leadership in every line of the company, so that the implementation of sustainable efficiency can be carried out optimally.
In addition, the Company expects that the establishment of Management Agency Partners (MIP) can be realized soon, which will have a positive impact on PTBA's financial performance.
Progress of Development Project
Coal Downstreaming
In line with the vision of becoming a world-class energy and chemical company that cares about the environment, PTBA is committed to supporting government policies that encourage coal downstream and maintain national energy security. The company has obtained a coal-based Industrial Estate permit or Bukit Asam Coal Based Industrial Estate in Tanjung Enim with an area of 585 Ha, and is currently in the process of establishing a Special Economic Zone (KEK).
The company, in collaboration with potential partners, has provided land for the development of the downstream industry. In addition, PTBA has allocated the coal reserves specifically for the downstream projects, ensuring that the downstream industry's need for coal is met.
Steam power plant
PTBA through PT Huadian Bukit Asam Power (HBAP) as an Independent Power Producer (IPP) is building the Sumsel-8 Mine Mouth PLTU with a capacity of 2x660 MW, also known as the Tanjung Lalang PLTU. HBAP is a consortium between PTBA and China Huadian HongKong Company Ltd.
The Power Plant, which would require around 5.4 million tons of coal per year, has reached a building progress of 97 percent. The power plant is expected to go commercial in September 2023.
Renewable Energy Development
The company's business expansion into the new and renewable energy sector continues, in line with its vision of becoming a world-class energy and chemical company that cares about the environment. The company continues to transform through business diversification in order to become an integrated and sustainable world-class energy and chemical company and one of them is by entering the new renewable energy (NRE) business.
PTBA's efforts to reduce global carbon emissions is manifested in its synergy with PT Jasa Marga (Persero) Tbk through Solar Power Plant instalment with a capacity of 400 Kilowatt-peak (kWp) on the Jasa Marga Group toll road. The construction of the Bali Mandara Toll Road Solar Power Plant, which was inaugurated on September 21, 2022, is proceeding very well, resulting in positive benefits in terms of energy efficiency and operational costs, as well as, of course, contributing to support Indonesia's G20 Presidency in November 2022, one of which focuses on the issue of energy transition.
Previously, PTBA has built a solar power plant at Soekarno Hatta Airport in collaboration with PT Angkasa Pura II (Persero). The solar power plant, which has been fully operational since October 2020, consists of 720 solar panel systems, with photovoltaics of 241 kilowatt-peak (kWp) maximum capacity, and is installed in the Airport Operation Control Center (AOCC) Building.
Not only develops business in the NRE sector, PTBA also runs a Solar Power Plant development program to activate agricultural irrigation pumps to improve the welfare of the people around the company's work area.
The solar irrigation program is PTBA's effort to encourage the use of renewable energy, empower the community, while preserving the environment. The use of Solar Power Plant as an energy source for irrigation pumps can increase the frequency of harvests and farmers' annual yield. With solar irrigation, farmers can harvest up to three times a year. To date, 6 Solar Power Plant irrigations with a total capacity of 192 kWp have been installed across South Sumatra, Lampung, and West Sumatra.
Coal Transport Project
PTBA collaborated with KAI in coal transport project as to meet the Company's target to increase coal transportation capacity by railway to 72 million tons per year in 2026. Tanjung Enim - Keramasan coal transport with a capacity of 20 million tons per year is under development, with PTBA's scope including the Train Loading System and Coal Handling Facility and PT KAI's scope including preparing the wharf and transportation facilities (carriage). This railway is scheduled to be operational in the fourth quarter of 2024.
In addition, in order to support SOE Synergy Collaboration in the Coal Supply Chain to Increase National Electricity Resilience, PTBA, KAI, and PLN signed Head of Agreement on February 16, 2022, to develop coal transportation to Perajen Pier with transport capacity of 20 million tonnes per year, with an expected operational date in the third quarter of 2026.
Carbon Management
To support the Government in achieving the Net Zero Emission target in 2060, PTBA implements Good Mining Practice with decarbonization programs.
PTBA reclamation area had reached 2,151.84 hectares (ha) as of December 2022 and 2,689,800 trees have been planted on the area. Various types of trees planted include Sengon, Teak, Mahogany, Eucalyptus, Acacia, Angsana, Merbau, Bamboo, Jabon, Pinus, Johar, Lonkida, Gamal, Saga, Pulai, Trembesi, Waru, Cashew, Bayur, Matoa, and Laban.
Not only land reclamation, PTBA has implemented a number of decarbonization activities in addition to land reclamation. In terms of operations, the company uses Eco Mechanized Mining, which involves replacing mining equipment that consumes fossil fuels with electricity. PTBA has deployed several electric-powered machines, including Shovel PC-3000 Electric Excavators, 100 Ton hybrid Class Dump Trucks (Diesel and Electric), and Electric-based Mining Pumps. PTBA has also operated electric buses at Tarahan Port and Tanjung Enim Mining Unit
In addition, the company uses an E-Mining Reporting System, which is a real-time and online production reporting system, to reduce conventional monitoring that uses fuel.
These decarbonization programs are part of PTBA's carbon management roadmap until 2050, which will be implemented and developed in every line of the company in a sustainable manner to give optimal results.
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PT Bukit Asam (Persero) Tbk published this content on 29 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 September 2023 13:05:07 UTC.
