This is the Golden Energy Mines (GEMS) Business Agenda for this Year

This is the Golden Energy Mines (GEMS) Business Agenda for this Year

PT Golden Energy Mines Tbk (GEMS) has prepared a business agenda for domestic and overseas this year. Launching the information disclosure on January 21, 2022, GEMS Corporate Secretary, Sub-Department of SH, said that on January 20, 2022, his party received a letter from the Directorate General of Mineral and Coal regarding the lifting of the ban on coal sales abroad which is in accordance with the evaluation of DMO fulfillment until January 19, 2022.

With this evaluation, the coal export ban was lifted for 139 parties by 100% or more, including a number of GEMS subsidiaries, namely PT Borneo Indobara, PT Barasentosa Lestari, PT Karya Cemerlang Persada, PT Bungo Bara Makmur, and PT Bungo Bara Utama. . Sudin said the impact of this incident would support and strengthen GEMS’ operational activities.

When confirmed by today, Tuesday (25/1), Sub-Department said that so far, only Borneo Indobara and Barasentosa Lestari have been exported, with the main target being China and India.
Regarding the impact of the export ban earlier this year, Sub-Department said there was no material impact. “At the beginning of the year, there were 5 export ships of Borneo Indobara that were detained. After the export permit was opened on January 13, 2022 for the 5 ships with a capacity of 450,000 tons and then officially opened for those that meet the DMO.
Currently, the conditions are smooth and conducive for GEMS,” he explained to, Tuesday (25/1). In general, Sub-Department sees that the prospect of the coal business in 2022 is predicted to remain strong throughout the year. He hopes that the government can also maintain this momentum and economic recovery can be achieved with good cooperation.

Therefore, this year GEMS plans to increase the supply of coal to PLN apart from the DMO obligation of 25% of production. The additional distribution of the supply is 300,000 tons from Borneo Indobara in January 2022.
“Especially for Borneo Indobara, this year’s RKAB permit is 36 million tons, so with a minimum DMO of 25% of production, the obligation to sell domestically is 9 million tons,” he said. This year, GEMS has budgeted capital expenditures for Borneo Indobara of US$ 22 million. However, his party has not detailed what the capital expenditure will be this year.
As for sales abroad, Sub-Department explained, the strategy that will be implemented by GEMS is not much different from last year. He hopes that there will be no sudden emergency so that the plans and implementations that have been planned can go well. “Our main export markets remain China, India, and countries in ASEAN,” he explained.

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