Rajawali Group Coal Issuer (SMMT) Aims to Produce 2 Million Tons Throughout 2021

Rajawali Group Coal Issuer (SMMT) Aims to Produce 2 Million Tons Throughout 2021

Bisnis.com, JAKARTA — Rajawali Group coal issuer PT Golden Eagle Energy Tbk (SMMT) aims to produce up to 2 million tons throughout 2021. For 2021, the company is expected to increase its production volume to close to 2 million tons. “Many factors affect the amount of the company’s profit, but by looking at the company’s performance in the first semester of 2021. The company is optimistic that it will be able to record better results until the end of 2021,” said SMMT President Director Roza Permana Putra at the public expose, Tuesday (24/8/2021).

The planned increase in production is expected to be achieved through optimized mine planning, increased fleet size, and improved productivity and cycle-time.

In terms of marketing, the company will optimize selling prices by combining HBA and the spot market and expand the market to end users, especially in the domestic market. “2021 demand is promising, especially from China. Economic recovery also supports demand, such as from India and other countries that have started vaccinations,” said Roza. In Indonesia, coal demand in 2020 fell 8 percent y-o-y. However, the government targets 2021 coal consumption to reach 113 million tons, up 8 percent from 2020.

Roza said sales up to June have exceeded 750 thousand tons or increased by more than 30 percent compared to last year and will continue to increase. “The composition of domestic sales has also increased more than exports this year. Even since the end of last year, SMMT, especially mines in Sumatra, began to penetrate the end-user market, especially power plants and cement factories,” Roza explained.

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