Mining Directory

PT MNC Energy Investments Tbk (IATA) has set a coal production target of 10 million metric tons (MT) next year.

Executive Chairman of MNC Group Hary Tanoesoedibjo said, IATA as one of the core business of MNC Group can achieve positive performance growth amidst the increasing trend of commodity prices, especially coal.

"IATA is the core business that we will definitely grow," he said in the Capital Sekuritas (JUCS) Main Services webinar, Monday (26/9/2022).

To achieve this target, said Hary, the company will add roads for mining activities.

In addition, IATA will add a conveyor system to facilitate coal lifting. In the future, the company will also explore mining locations that do not yet have the capacity to carry out mining activities.

"We will continue to push for IATA to be as big as possible. This is our commitment," he said.

The Company is committed to continuing to increase coal production, which began to bear fruit in an increase in net profit to USD32.19 million in the first half of 2022 or an increase of 735.49% compared to the same period last year of USD3.85 million.

The profits recorded by the company came from BCR's subsidiaries, namely PT Putra Muba Coal (PMC) and PT Bhumi Sriwijaya Perdana Coal (BSPC), which targeted production of 4.5 million MT and 1.8 million MT respectively for 2022, an increase from 2 million MT and 590 thousand MT in 2021.

In addition to PMC and BSPC, another BCR subsidiary PT Indonesia Batu Prima Energi (IBPE) has started coal production in July 2022.

Source: https://ekbis.sindonews.com/read/895909/178/iata-bidik-produksi-10-juta-metrik-ton-batu-bara-di-2023-1664190558