The opportunity for coal demand from European countries does not necessarily make PT Golden Energy Mines Tbk rush to try the blue continent market. Currently, the issuer of coal stock coded GEMS is still studying the European market.

GEMS Corporate Secretary, Sudin Sudiman said, so far GEMS does not have a sales contract to Europe"We are open to any market share as long as the price and goods match," said Sudin to Kontan.co.id (21/6). Taking a peek at the company's latest financial reports and public expose material, GEMS' export sales have not targeted the European market, at least in the last 3 years.

The majority of GEMS sales are generally targeted at the Chinese and Indonesian markets, while the rest target other destinations such as India, the Philippines, and others. Recently, the prospect of coal demand to Europe has become more promising following the war between Russia and Ukraine which caused gas supplies to Europe, including Germany, to start running low.

Germany has even conveyed the need for coal imports of around 5 million - 6 million tons from Indonesia. Kontan.co.id noted, the Director of Coal Business Guidance at the Ministry of Energy and Mineral Resources (ESDM) revealed that the government had collected companies with coal quality that matched the specifications for German coal needs. The Indonesian Coal Mining Association (APBI) also claimed to have coordinated with the government regarding the demand for this coal supply.

"The Ministry of Energy and Mineral Resources and the Indonesian Embassy in Berlin are communicating with us," said APBI Executive Director Hendra Sinadia to Kontan.co.id (20/6).

At the time of writing, GEMS has no plans to submit a revision to the company's Work Plan and Budget (RKAB) this year. 

The GEMS consolidated coal production plan is still the same, which is around 40 million tons with a realistic target of around 36 million tons. "In the first quarter of 2022, the realization of production is around 9 million tons," said the Sub-Department.

Source: https://industri.kontan.co.id/news/ada-peluang-ekspor-ke-jerman-golden-energy-mines-gems-pelajari-kemungkinan-pasar