UNTR’s Coal Mining Quota Rises as Mineral Mining Business Continues to Expand

PT United Tractors Tbk (UNTR) received a revised coal Work Plan and Budget (RKAB) allocation of 12.4 million tons in August 2026, up from the previous allocation of around 7.4 million tons.

United Tractors Finance Director Vilihati Surya explained that the additional RKAB allocation presents an opportunity for UNTR to increase coal production and sales in the second half of 2026, despite operational challenges.

“The good news is that in August 2026, we received an increase in the RKAB to 12.4 million tons. However, there are indeed more challenges ahead, which is why we have to pray a lot,” he said on Wednesday (Sept. 23).

Even so, Vilihati said UNTR’s next challenge would come from weather conditions in Central Kalimantan, which is entering the dry season. The conditions could affect UNTR’s coal production activities in the second half.

With the additional RKAB allocation, UNTR will optimize coal production and sales. However, some of the production could potentially be stored as inventory before being sold in November to December 2026.

“So we will produce [the coal] and then possibly sell it in November to December 2026, and we will maximize [sales], while some of it will first be kept in inventory,” Vilihati said.

Amid the revised coal RKAB allocation, UNTR is also continuing to strengthen its mining business diversification into mineral commodities. PAMA Group has begun expanding its mining contracting activities into the gold and nickel sectors.

“Right now, we divide it into two [segments]. The first is mining solutions and equipment. The second is other businesses,” Vilihati said.

According to Vilihati, UNTR is not only relying on thermal coal but is also expanding its exposure to metallurgical coal. He said the demand characteristics for the two types of coal are different.

“For metallurgical [coal], there is still no substitute to date. Thermal coal already has substitutes, which are now coming from renewable energy,” Vilihati said.

During the January-August 2026 period, UNTR’s thermal and metallurgical coal sales through PT Tuah Turangga Agung reached 8.37 million tons. This realization fell 19.44% year-on-year (YoY) from 10.39 million tons in August 2025.

UNTR’s non-coal mineral business operations also declined. As of August 2026, gold sales from Agincourt Resources and Sumbawa Jutaraya fell 73.91% YoY to 42,000 ounces.

Meanwhile, nickel ore sales through Stargate reached 1.05 million wet metric tons as of August 2026, comprising 711,000 tons of limonite and 348,000 tons of saprolite. During the same period in 2025, UNTR’s nickel ore sales reached 1.43 million wet metric tons.

JP Morgan Sekuritas Equity Research analyst Arnanto Januari assessed that the risk-return profile of UNTR shares was becoming increasingly positive as industry conditions appeared supportive of potential coal price increases in the short term.

Source: https://investasi.kontan.co.id/news/rkab-batubara-untr-naik-bisnis-tambang-mineral-terus-digenjot

Advertisement