PT Golden Energy Mines Tbk. (GEMS) targets a coal production volume of 50 million to 51 million tons for 2025.
The company's Corporate Secretary, Sudin, explained that the coal production target is expected to be the same as in 2024, at 50-51 million tons.
"The sales volume is estimated to be 51-52 million tons" said Sudin on Tuesday (January 7, 2025).
Sudin further explained that GEMS' production and sales figures remain unchanged between 2024 and 2025. This is in line with the new RKAB system, which will be effective for three years, from 2024 to 2026, unless revisions are made.
On the other hand, Sudin said that GEMS' capital expenditure for this year is estimated to be between US$30 million and US$35 million.
"The capital expenditure will be used for hauling road facilities, ports, and other supporting facilities" said Sudin.
Previously, GEMS projected that coal prices will remain stable in 2025. Golden Energy Mines Director, Suhendra, explained that with relatively abundant reserves, coal will continue to be one of the key sources of energy in Indonesia, both for electricity generation and other industries.
"Despite the growing demand for the transition from fossil fuels to renewable energy, the demand for coal, both domestically and for export, is expected to remain high in 2025" said Suhendra on Thursday (December 5, 2024).
He continued that the thermal coal price at the end of November and early December 2024 has been relatively stable. GEMS also forecasts that coal prices will not fluctuate significantly.
"On the other hand, there are still opportunities to seek new export markets, especially in Southeast Asia" Suhendra added. He also mentioned that GEMS will continue to implement superior mining operational strategies and regularly monitor costs to ensure the company can maximize its performance.
