Coal to Gold: MIND ID's 2023 Production Output

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Erlina Fury Santika 12/06/2024 14:37 WIB

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MIND ID's report shows that this state-owned enterprise holding company has produced coal and gold throughout 2023. Here's the volume.

Production Volume of Commodities under the Indonesian Mining Industry/MIND ID (2023)

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Coal to Gold: MIND ID's 2023 Production Output

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Production Volume of Commodities under the Indonesian Mining Industry/MIND ID (2023)

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Indonesia's Mining Industry Holding, MIND ID, reports producing millions of tons of energy and mining commodities in 2023.

Coal production was the highest, reaching 41.9 million tons in 2023. Nickel followed with 13.44 million tons.

Bauxite production totaled 2.01 million tons last year. MIND ID also produced 214,000 tons of aluminum; 21,500 tons of ferronickel; 15,300 tons of tin ingots; and 1.2 tons of gold.

Furthermore, MIND ID recorded a net profit of Rp27.5 trillion in 2023. This figure represents a 22.4% increase from 2022 and surpasses the 2023 Company Work Plan and Budget (RKAP) by 36.3%.

According to the company's financial statements, net profit in 2022 reached Rp22.49 trillion, a significant increase from Rp14.32 trillion in 2021 and Rp1.82 trillion in 2020.

Meanwhile, MIND ID's Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) reached Rp40.3 trillion in 2023, a 9.7% increase compared to 2022 and 58.7% higher than the 2023 RKAP. EBITDA in 2022 was Rp36.69 trillion; Rp28.05 trillion in 2021; and Rp11.26 trillion in 2020.

EBITDA refers to earnings before deducting interest, taxes, depreciation, and amortization. This figure serves as an indicator of a company's profitability.

MIND ID's total assets also increased by 13% year-on-year (YoY) to Rp259.2 trillion in 2023 from Rp229.32 trillion. Similarly, equity increased by 18% (YoY) to Rp129.6 trillion in 2023 from Rp110.24 trillion.

For information, MIND ID is Indonesia's state-owned mining holding company comprising PT ANTAM Tbk, PT Bukit Asam Tbk, PT Freeport Indonesia, PT INALUM, and PT Timah Tbk.

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."