Coal news and updates

Indonesia's Bukit Asam targets 41 million tonnes of coal output in 2023

JAKARTA (Reuters) - Indonesian state-controlled coal miner PT Bukit Asam is targetting an 11% increase in coal output this year to 41 million tonnes, after posting a record-high profit in 2022, senior executives said on Thursday.

The company produced 37.1 million tonnes in 2022 and sold 31.6 million tonnes, including 12.5 million tonnes for exports, chief executive Arsal Ismail told reporters.

Bukit Asam booked 12.6 trillion rupiah ($816.86 million) in net profit last year, up 159% from a year earlier, as global prices of coal surged amid booming energy demand and supply disruption due to the war in Ukraine.

"This is the biggest profit in Bukit Asam's history," Arsal said. For 2023, Bukit Asam is aiming for a sales volume of 41.2 million tonnes.