BYAN Eyes Moderate Production Target, Works on New Projects

By Editorial Team 25/01/2024
coal mining
Summary

PT Bayan Resources Tbk (BYAN), owned by conglomerate Low Tuck Kwong, targets coal production of 55 million-57 million tons, representing an 18.75 percent increase from the 2023 realization estimate of 48 million tons. This positions BYAN as the third-largest coal producer in Indonesia, trailing behind PT Bumi Resources Tbk (BUMI) with a production of 80 million tons and PT Adaro Energy Indonesia Tbk (ADRO) with 64 million tons.

BYAN's management has expressed its commitment to boosting coal production following the expansion of mining operations. "Coal production volume in 2024 has the potential to increase by 15-20 percent due to the expansion of the North Pakar mine in Tabang [East Kalimantan]," BYAN's management said on Jan 24. By the end of 2023, BYAN has secured sales commitments of up to 45.5 million tons for 2024, with specifications of 4,324 GAR Kcal/kg. Approximately 84 percent of sales are based on floating prices, while 16 percent utilize fixed prices.

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