GEMS plans higher coal production in 2024

PT Golden Energy Mines Tbk (GEMS) aims to increase coal production performance this year.

GEMS Corporate Secretary Sudin Sudiman explained that production this year is targeted to exceed the realization of production in 2023, which reaches 46 million tons.

“In 2024, production is targeted at 50 million tons and can maintain good financial performance,” Sudin told Kontan on Thursday (25/1).

GEMS’s coal production achievement, which reached 46 million tons throughout 2023, was recorded to exceed the target set at 40 million tons.

Sudin added that the company realized a capital expenditure of USD 46 million for 2023. Most funds are for port facilities, hauling roads, and other operational performance support facilities.

In order to smooth out the business plan this year, GEMS also increased its capital expenditure projection.

“In 2024, the projected capital expenditure is USD 60 million,” concluded Sudin

Image source: GEMS

Source: Energy Mines (GEMS) Bidik Produksi 50 Juta Ton Batubara pada Tahun 2024