PT Golden Eagle Energy Tbk ( SMMT ) will increase coal production for the second half of this year.

SMMT Corporate Secretary Susanti Nilam explained that the planned production increase was carried out in line with the positive performance that was successfully recorded by Golden Eagle Energy in the first semester of 2022.

"The production in the first half was around 1.5 million tons. The company managed to exceed the production target set at the beginning of the year, especially the Sumatra mine which managed to record production of around 1.2 million tons in the first semester of 2022," Susanti explained to Kontan.co.id , Tuesday (6/9).

Susanti continued, with this production score, SMMT is also optimistic that production in the second half of 2022 will match the achievement in the first half of this year. This means that this year's coal production target is 3 million tons. For this reason, SMMT has also submitted a revision of the 2022 Work Plan and Budget (RKAB) to increase the amount of production.

Kontan.co.id noted that SMMT targets coal production to reach 2.4 million tons this year. Meanwhile, in the revised RKAB that has been proposed, SMMT targets a production increase of at least 35% from the initial target. Susanti explained, in the rest of this year, Golden Eagle is still anticipating the impact of high rainfall in production activities.

"SMMT also anticipates a surge in production costs, especially due to the high price of diesel fuel to date and also the increase in royalty rates to the government which will be effective in September 2022," Susanti explained.Referring to the company's financial report, SMMT posted sales of Rp 474.69 billion in the first semester of 2022. This achievement jumped 162.43% on an annual basis from the achievement of the same period in the previous year of Rp 180.87 billion.

Meanwhile, SMMT's net profit in the first semester of 2022 was recorded at Rp 189 billion, or an annual increase of 328.77% compared to the same period in the previous year of Rp 44.08 billion.

Source:https://industri.kontan.co.id/news/golden-eagle-energy-smmt-bakal-kerek-produksi-batubara