PT Golden Energy Mines Tbk. (GEMS) achieved coal production of 50.7 million tons in 2024.
According to its official statement, GEMS recorded coal production of 50.7 million tons in 2024, an increase of 10% from 2023, which was 46.1 million tons.
Meanwhile, the overburden removal (OB) or soil stripping by GEMS reached 265.2 million bank cubic meters (bcm), a decrease from 2023, which was 275.8 million bcm.
For sales, GEMS recorded coal sales of 51.9 million tons throughout the last year. This sales figure represents an 11% increase compared to 2023, which was 46.9 million tons.
GEMS' coal sales were dominated by exports, accounting for 63% of total sales in 2024. Of the export sales, 45% went to China, 11% to India, and 7% to other countries.
Meanwhile, domestic sales accounted for 37% of the company's total sales, amounting to 19.1 million tons.
Additionally, GEMS reported a net profit of USD 473.8 million, equivalent to IDR 7.65 trillion (using the Jisdor exchange rate of IDR 16,157 per USD as of December 31, 2024) in 2024.
This net profit represents an 8.6% decline compared to 2023, where GEMS' net profit was recorded at USD 518.38 million.
The decrease in net profit was primarily due to a decline in GEMS' operating revenue, which dropped to USD 2.7 billion (equivalent to IDR 43.71 trillion), a 6.77% decrease from 2023, which stood at USD 2.9 billion.
