Delta Dunia Makmur Indonesia (DOID) announced an ambitious plan to diversify its business portfolio and reduce dependence on thermal coal.

DOID Director, Dian Andyasuri revealed their target to reduce revenue from thermal coal to below 50% of the total by 2028.

Dian explained that the company will take strategic steps to achieve this goal.

"We will continue to strengthen our core business, BUMA, as a leading mining services provider in Indonesia and Australia, while increasing innovation and operational excellence," she told Kontan, Thursday (18/7).

DOID’s key strategies for the second half of the year include geographic expansion and diversification into future commodities. They have signed a strategic acquisition of Atlantic Carbon Group, Inc. (ACG) in June 2024, securing ownership of four Ultra-High-Grade (UHG) anthracite mines in Pennsylvania, USA.

"This not only expands their operational base but also positions DOID as a key player in the global UHG anthracite market, which is vital for low-carbon steel production," she added.

He also highlighted the projected additional revenue of USD 120 - USD 130 million per year from 2024 to 2028 thanks to the ACG acquisition, as well as an increase in revenue from non-thermal coal from 19% in FY2023 to 28% in FY2024.

In addition, DOID has signed a new contract with Blackwater Operations Pty Ltd to provide mining services at Blackwater's mine in Australia, which is expected to make a significant contribution to their revenue.

With the challenge of high rainfall in Indonesia affecting productivity, DOID remains optimistic in achieving their revenue growth target for this year.

They continue to focus on optimizing operations and expanding their customer base through an active approach to long-term contract negotiations.

Dian emphasized, "We are committed to strengthening our position as a market leader in sustainable and low-carbon mining while continuing to adapt to changes in the global industrial environment," she concluded.

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