SMRU - PT. SMR Utama Tbk

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JAKARTA – PT SMR Utama Tbk (SMRU) boosts its coal production this year higher than in 2020, all the while hoping that the coal price keeps growing by the end of 2021.

Arief Novaldi, the Corporate Secretary of SMRU, announced that the production target for this year reached 26,439,000 bank cubic meters (bcm) of overburden and 1,915,000 tonnes of coal. “Last year, they were only 19,343,454 bcm of overburden and 1,505,785 tonnes of coal,” Novaldi claimed.

According to Novaldi, the target is set based on the increasing coal price in the global market reported since the end of 2020. The coal reference price (lit. Harga Batu Bara Acuan/HBA) indicates a positive trend by April 2021, reaching USD 86.68 per tonne from USD 75.84 per tonne in January 2021.

Furthermore, the management is also optimistic about maintaining its revenue sustainability following several long-term project contracts with PT Berau Coal. These projects include Lati and Sambrata projects, ending in 2025. There is also a contract between SMRU’s subsidiary with PT Gunung Bara Utama (GBU), lasting in 2022. (LK/ZH)