- India remains a key export destination for PTBA
- Growth in sales to various Southeast Asian countries
PT Bukit Asam Tbk (PTBA), a prominent state-owned coal mining company in Indonesia, has delivered robust performance in the first quarter of calendar year 2024 (CY24). Sales of coal surged to 9.7 million tonnes (mnt), marking a notable 10% increase compared to Q1 CY23. This growth was driven by both domestic and international markets, with the Domestic Market Obligation (DMO) rising by 14% and exports by 4% y-o-y. The company’s operational efficiency also saw improvement, with coal production rising by 7% y-o-y to 7.3 mnt in the Q1CY24.
India remains a key export destination for PTBA, with sales to the country reaching 1.5 mnt in the Q1CY24, representing a 7.1% increase from the previous year. Additionally, significant progress was made in other markets, including a substantial 80.9% increase in exports to South Korea and remarkable growth in sales to various Southeast Asian countries.
Niko Chandra, the corporate secretary of PTBA, emphasised the company’s strategic focus on both domestic market expansion and international market diversification. PTBA aims to enhance its presence in the domestic market while actively exploring opportunities in overseas markets, aiming for further sales volume growth in the current year.