JAKARTA, investor.id – PT Adaro Energy Indonesia Tbk (ADRO) recorded a record high coal production of 62.88 million tons in 2022. This total production has increased by 19% from 52.70 million tons in 2021.
Adaro’s management explained that this figure exceeded the guideline set in the range of 58-60 million tons, thanks to the support of high demand from customers and high production performance.
“Coal sales volume in FY22 rose 19% to 61.34 million tonnes from 51.58 million tonnes in FY21. Sales growth was mainly driven by medium CV thermal coal products (4,700 and above) which increased 22% to 44.91 million tonnes in FY22 compared to 36.77 million tonnes in FY21. Medium CV thermal coal products account for 73% of total FY22 sales,” said Adaro’s management in an official statement, Friday (17/2/2023).
Also read: Adaro (ADRO) Buyback Shares IDR 4 T
Sales of metallurgical coal of its subsidiary, PT Adaro Minerals Indonesia Tbk (ADMR) also recorded a high jump of 39% to 3.20 million tonnes in FY22 from 2.30 million tonnes in FY21.
Overburden removal volume in FY22 reached 235.68 million bank cubic meters (Mbcm), or an increase of 8% from 218.90 Mbcm in FY21, driven by increased overburden removal volume from Balangan Coal Companies (BCC), PT Mustika Indah Permai (MIP), and PT Adaro Minerals Indonesia Tbk (ADMR).
Overburden removal at PT Adaro Indonesia (AI) slightly decreased or decreased by 1% to 191.83 Mbcm from 194.37 Mbcm in FY21. ADRO’s strip ratio in FY22 was recorded at 3.75x, or lower than 4.15x in FY21 because production volume increased more than the increase in overburden stripping volume.
Also read: Shhh! This Update Adaro Minerals Aluminum Smelter Project (ADMR)
Adaro’s peeling ratio performance in FY22 was below the set guidance of 4.1x due to above-normal rainy weather in 1H22 and longer delivery times for heavy equipment. The company remains in line with the peeling ratio life-of-mine.
“Coal production in 4Q22 rose 34% yoy to 17.52 million tonnes from 13.06 million tonnes in 4Q21, the highest quarterly record for Adaro,” explained Adaro’s management.
Coal sales volume in 4Q22 rose 35% to 17.17 million tonnes from 12.72 million tonnes in 4Q21. Total overburden removal volume in 4Q22 increased 35% to 62.15 Mbcm from 45.87 Mbcm in 4Q21. Strip ratio for the quarter was 3.55x, up slightly from 3.52x in 4Q21.
Editor : Theresa Sandra Desfika (theresa.sandra@investor.id)
