PT Mifa Bersaudara, a coal mining company located in West Aceh Regency, targets revenue to grow 15% following the growth in coal production volume throughout this year. This projected increase in financial performance also considers coal commodity prices which are not much different from 2022. General Manager Operation Mifa Bersaudara, Hadi Firmansah, explained that several experts projected that coal prices would still be in a strong position in the next two to three years. “But in the three years since, prices have started to decline again. But we went through a time when coal prices were at their lowest point in 2015-2016 and we were still able to operate," he explained when met in Bogor, Saturday (26/2). In order to deal with the decline in coal commodity prices, Mifa Bersaudara will optimize existing business processes and efficiency of some production costs.

Throughout this year, the Mifa Brothers have planned a coal production volume of 8 million tons. Meanwhile, when combined with the production of its sister company, PT Bara Energi Lestari, which often uses infrastructure from Mifa, the total coal production will reach 10.6 million tons this year. "Compared to last year, there was an increase of 1.3 million tons. This increase is due to increased demand," he said. Apart from selling domestically, the Mifa Brothers export their coal to a number of countries, namely to China, India, Thailand and Vietnam.

Hadi explained, currently there are around 170 million coal reserves with a mine life of up to 2035. Seeing this condition Mifa Bersaudara plans to diversify its business into mineral mining. "Mifa's holding is PT Media Djaya Bersama, we are now diversifying towards nickel. However, the holding party is still looking for targeted nickel mining areas," he explained.

Source: https://industri.kontan.co.id/news/mifa-bersaudara-targetkan-pendapatan-tumbuh-15-di-2023