Two key subsidiaries of Indonesian coal miner PT Bumi Resources have received approval to extend their mining permits until 2026, allowing the group to target coal production of 80 million tonnes in 2024, an executive said on January 3.

PT Arutmin Indonesia (AI) and PT Kaltim Prima Coal (KPC), which contribute the bulk of Bumi Resources' output, had their work plans and budgets (RKAB) approved for the period 2024-2026, director Dileep Srivastava said.

"Bumi has received RKAB approval for the KPC and Arutmin IUPKs (special mining permits) for the 2024-2026 period," he said.

Srivastava said the Jakarta-listed miner expects to produce around 80 million tonnes of coal in 2024, higher than 2023 and 2022. However, he noted the target has not been finalized.

Srivastava also noted coal output is on track to approach 80 million tonnes for full-year 2023.

As of end-September, the company reported year-to-date coal production of 56.2 million tonnes, helped by improved weather and stronger contractor performance. AI produced 16.1 million tonnes over this period and sold 15.9 million tonnes in January-September, while KPC made 40.1 million tonnes and sold 38.4 million tonnes.

(Writing by Alex Guo  Editing by Emma Yang)
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