Coal mining company PT Harum Energy Tbk (HRUM) has set a production increase target of around 25% and prioritizing operating margins.
Harum Energy President Director Ray Antonio Gunara said that his company remains consistent in maintaining its performance this year so that it does not only focus on increasing production but also production costs. “We pay attention to the balance of production levels with production costs and the sustainability of coal production in the future,” he said last week.
In the midst of the momentum of rising coal prices, besides triggering production, it is also boosting sales to the export market. Countries with an increase in coal consumption were targeted by HRUM, such as Thailand, Bangladesh, Philippines and Vietnam.
In the third quarter of 2020, HRUM’s revenue fell 32% (yoy) to US$ 136.1 million but net profit jumped 60.4% (yoy) to US$ 25.7 million.