PT Bukit Asam Tbk (PTBA), a key member of the state-owned mining holding MIND ID, reported a net profit of IDR 5.1 trillion in 2024, propelled by a 30% year-on-year increase in coal exports, which reached 20.26 million tons. The company also saw an 11% rise in revenue to IDR 42.76 trillion and a total asset growth of 8% to IDR 41.79 trillion. While domestic sales remained dominant at 53%, exports now make up a significant 47% of total sales—highlighting the company’s strategic success in balancing both markets amid a challenging global coal price environment.
Despite price corrections in key coal indices—ICI-3 down 12% and Newcastle down 22%—PTBA maintained resilience by expanding market reach and implementing strict cost efficiency measures. Capital expenditures reached IDR 2.35 trillion, up 17% from the previous year, largely allocated for logistics development, including the Tanjung Enim–Keramasan coal transport project. President Director Arsal Ismail emphasized PTBA’s commitment to sustainable operations and operational efficiency, evidenced by a controlled stripping ratio of 6.23x, below the target of 6.44x. This robust performance underlines PTBA’s adaptive strategy in maximizing both domestic opportunities and export potential, ensuring continued growth in a volatile global market.
