Coal mining and trading business segment are run by PT Golden Energy Mines Tbk (GEMS) and its subsidiaries, as well as PT DSSE Energi Mas Utama (EMU) and its subsidiaries. Major coal concession areas owned by GEMS, EMU, and their subsidiaries are located in South Kalimantan, Central Kalimantan, Jambi, and South Sumatera.
The company successfully recorded coal production of 16.7 million tons in 2017, an increase of 69.9% compared to the achievement of previous year’s coal production. As much as 79.5% of the total coal was produced by PT Borneo Indobara, as much as 13.8% was produced by other subsidiaries of GEMS, and as much as 6.7% of the total coal was produced by mining activities of EMU’s subsidiary companies to meet the needs of IPP PLTU Sumsel-5.
Total coal sales volume achieved in 2017 was 17.1 million tons, an increase of 55.5% over the previous year’s 11.0 million tons.
The actual production of coal in 2017 exceeded the target of million tons.
Total revenues from coal business recorded in 2017 amounted to USD 759.4 million, increasing 97.6% if compared to revenues from coal business in the previous year which amounted to USD 384.3 million. Revenues and net income from the coal business contributed 57.5% and 87.6%, respectively to total consolidated revenues and net income of the Company in 2017.