Bumi Resources cuts production guidance for CY22 due to heavy rains

Indonesian miner Bumi Resources has cut its production guidance to 78-83 mnt for 2022 against the guidance of 81-86 mnt set earlier. This is in line with the adverse weather conditions in key mining regions of Kalimantan and Sumatra. During Jan-Jun’22 (H1CY’22), Bumi Resources produced 34.5 mnt of coal, down by 14% y-o-y.