PT Harum Energy Tbk (HRUM) has a coal production target of around 6 million tons in 2024. This achievement depends on approval of the Work Plan and Budget (RKAB) in accordance with the set targets.

Ray Antonio Gunara, President Director of Harum Energy, sees the prospects for the coal business in 2024 as still quite positive. Coal prices are supported by stable demand from both domestic and export markets, both markets require affordable energy sources.

"Even though there is potential for a correction in coal prices in 2024, it is hoped that the correction will not be as big as in 2023," said Ray to Kontan.co.id on Monday (18/12).

For information, until the end of September 2023, HRUM has produced 5.4 million tons of coal. This realization increased by 43.0% compared to the same period in the previous year which only reached 3.8 million tons.

To support business in the coming year, HRUM plans to allocate capital expenditure (capex) of around USD 50 million. Ray explained that this capex would be used to fund the construction of infrastructure and production facilities in the nickel mining area. Apart from that, capex will also be allocated for additional coal mining properties, maintenance of tugboats and barges, purchase of vehicles and heavy equipment.

Until the end of September 2023, the total capital expenditure absorbed reached USD 17.6 million, mainly for needs related to additional mining properties in HRUM's subsidiaries, such as PT Mahakam Sumber Jaya, PT Karya Usaha Pertiwi, and PT Tanito Harum Nicke. Capex is also used for maintenance of PT Layar Lintas Jaya's barge fleet, purchasing heavy equipment and vehicles.

Image source: HRUM

Source: www.industri.kontan.co.id/Segini Target Produksi Batubara Harum Energy (HRUM) Untuk Tahun Depan