PT Golden Energy Mines Tbk (GEMS) is preparing capital expenditure of US$ 33 million or the equivalent of Rp. 508.2 billion (exchange rate of Rp. 15,400/USD) in 2023. The capital expenditure (capex) funds prepared this year are larger than last year's US$ 25 million or equivalent to Rp. 385 billion. President Director of Golden Energy Mines, Bonifasius, explained that last year his party budgeted a capex of US$ 25 million. In 2023, his party has prepared US$ 33 million for a number of needs. "This year we will allocate capex for port facilities and infrastructure, hauling roads including for supporting facilities," he explained to Kontan.co.id, Monday (13/3).

Boniface further explained that the available capex budget is also used to support the Company's operational performance. Regarding the business prospects this year amid the continuing slump in coal commodity prices, Bonifasius stated that his party is still paying close attention to global conditions in global prices. But aside from that, he remains optimistic. "GEMS will do its best to achieve optimal performance," he said. Bonifasius emphasized that throughout this year, GEMS will continue to achieve 2022 performance and remain focused on performance that is beneficial to all stakeholders. GEMS targets production to increase by 5% -7% compared to the 2022 realization. This target has of course been approved by the Government's Work Plan and Budget (RKAB).

Source: https://stocksetup.kontan.co.id/news/golden-energy-mines-gems-menyiapkan-belanja-modal-us-33-juta-tahun-ini