State coal producer Bukit Asam (PTBA) booked profit attributable to owners of Rp2.8 trillion in the first half (H1) of 2023, dropped 54% year on year (y/y), as cost of revenue rose 45.5% y/y to Rp14.7 trillion, including the cost component for royalties, rail freight, and mining services. Introduction of new royalty rates for coal miners operating under IUP regime late last year clearly affected the company’s bottomline.To subscribe please click here
