JAKARTA. PT Merdeka Copper Gold Tbk (MDKA), a metal and mineral mining company, managed to turn in a net profit of USD 96.79 million or approximately IDR 1.44 trillion in the first half of 2022.
In comparison to the same period last year, MDKA’s net profit went 14.5 times higher, or proliferating 1,458% year-on-year (yoy). In the first semester of last year, its net profit only clocked up to USD 5.87 million.
MDKA’s net profit in H1 2022 was supported by its revenue, arriving triumphantly at USD 341.4 million. It was 1.5 times higher, taking an impressive upturn of 152% yoy.
Throughout H1 2022, MDKA still relied on its export, which generated USD 304.8 million, covering approximately 89.6% of the total revenue. The domestic took care the remaining percentage with sales of USD 34.99 million.
MDKA’s export destination countries in H1 2022 included Hong Kong, which contributed the most with USD 200.95 million worth of sales. Then, China came second with USD 49.21 million, followed by the Great Britain of USD 24.02 million, Singapore of USD 20.34 million, and Monaco of USD 11.89 million.
Based on the revenue source, approximately 43% of MDKA’s revenue came from the mining projects in the seven hills. Then, another 29% was generated from the Wetar Project, while the nickel projects brought in 27.6%, and other projects covered the remaining 0.4%. (KR/ZH)