Golden Eagle reports increasing H1 production, net profit

Golden Eagle reports increasing H1 production, net profit – IDX-listed coal miner PT Golden Eagle Energy Tbk reported first half 2021 production of 743,000 tonnes, 26 percent highner than last year’s corresponding period production of 590,000 tonnes.

Sales for the period also increased by 31 percent to 763,000 tonnes.

President Director Roza Permana Putra told a public expose on Tuesday that the company is on track to produce close to 2 millio tonnes this year.

The company sold 71 percent of its production  to the domestic market and the rest went to China, India, and other Asian markets.

The company also reported first half of 2021 net profit of Rp44,8 billion or around US$3.08 million from net loss of Rp7,09 billion or $500,000 a year ago.

Golden Eagle through its subsidiary Triaryani operates three producing coal concessions with a a combined acreage of 2,143-ha concession in East Kalimantan which has also been in production since 2010.

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