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MINUTES OF ANNUAL PUBLIC EXPOSE 2024
PT BUMI RESOURCES TBK.
In compliance with the Decree of the IDX Board of Directors No. Kep-00066/BEI/09-
2022 dated 30 September 2022 regarding Amendment to Rule Number I-E regarding
Obligation to Submit Information, we hereby inform you that PT Bumi Resources Tbk.
(the "Company" or "BUMI") has conducted its Annual Public Expose virtually on:
Date : Wednesday, 11 December 2024
Time : 10.00 – 11.30 am
Agenda : 1. At a glance
• Company’s Shareholding Structure
• Coal Production, Reserves & Natural Resources
2. Performance and Operation Highlights – 9M 2024.
3. Marketing
4. DMO (Domestic Market Obligation).
5. BUMI Reborn – Transformation
• Restructuring Status
• GCG – Awards and Best Achievement
• Occupational Safety – Best in Class.
• Strengthened Management – Directors and Board of
Commissioners
Attachments : 1. KPC Financial Highlights
2. KPC Operation Highlights
3. Arutmin Financial Highlights
4. Arutmin Operation Highlights
5. Corporate Social Responsibility Update.
6. Company Awards and Best Achievement
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The Minutes are as follows:
Background : Decree of IDX letter No. Kep-00066/BEI/09-2022 ofl 30
behind the September 2022 regarding Amendment to Rule No. I-E
conduct of regarding Mandatory Submission of information.
Annual Public
Expose
Attendees : The Company:
Physical Attendance:
• Directors:
- Dileep Srivastava (Director & Corporate Secretary)
- R.A. Sri Dharmayanti (Director)
- Andrew C. Bekham (Director)
- Ido Hutabarat (Director)
Non-Company:
Virtual (online)
Capital Market Reporters/Observers/Analysts/Investors ± 73
participants.
Moderator/ : Achmad Reza Widjaja (VP Investor Relations & Chief of Economist)
Person delivering
presentation
Presentation : By showing slides of presentation materials to those present,
Method followed by a Q&A session.
The Q&A session with participants was conducted through a
chat box /Q&A feature, read out by the Moderator and
answered by members of the Company's Board of Directors.
Questions raised : 1) Media:
in the Q&A, • Please tell us BUMI coal price projection for 2025?
among others: • BUMI production target for 2025?
2) Investor:
Please tell us how is the progress or development of BUMI
plan for quasi reorganization?
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3) Investor:
• BUMI production plan and RKAB (Work Plan & Budget)
for 2025?
• Production of which CV (Calorific Value) are you
expected to grow in the coming years?
• How will you be able to manage cost efficiency given the
28% coal royalty imposed by the Government?
4) Investor:
Why is it that KPC coal’s realized price is much lower than
the Newcastle coal benchmark price?
5) Investor:
How do you go about facing the latest development of
renewable energy? Do you have any plans to scale down
your coal business development?
Answers to the : 1) Media:
above questions • The Company's coal price for 2025 is expected to be
pretty much the same with that of 2024, which is
around USD135-140 for high CV and USD70-75 for
mid CV. This is because there is no significant change
in supply and demand dynamics that affect the price.
Key factor that needs to be observed in 2025 is
whether the level of coal imports to China remains at
the same level. If there is a decrease in imports in
China, this may affect coal prices. Currently, the
Company expects imports into China in 2025 to be in
line with the previous year.
• In terms of production, total coal supply is projected
to increase slightly from 1.57 billion tons in 2024 to
1.61 billion tons in 2025, with relatively stable
contribution from Indonesia and a slight increase in
production from Australia. Demand is expected to
rely on imports from China. For 2025, the Company
plans a total production target of 80 million tons,
consisting of 55 million tons from KPC, and 25 million
tons from Arutmin.
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2) Investor:
The Company continues to pursue the quasi reorganisation
plan in accordance with applicable regulations. If realized,
this step is expected to have a positive impact on the
Company and its shareholders. Once the audited December
Financial Statements are released, we hope to complete this
quasi reorganisation, allowing the Company to distribute
dividends to shareholders. The Company also expects
support from regulators to have this plan materialize.
3) Investor:
• RKAB for both Arutmin and KPC (Kaltim Prima Coal)
have been approved from 2024 to 2026, with production
targets of 55 MT for KPC, and 25 MT for Arutmin,
respectively. Total production in 2025 is set at 80 MT.
• The trend of CV (Calorific Value) produced by BUMI
subsidiaries is toward lower CV. In 2025, KPC's average
CV is expected to remain around 5,000 kcal/kg GAR,
while Arutmin will be around 4,400 kcal/kg GAR.
• To manage cost efficiency, the Company focuses on
reducing production costs, such as lowering strip ratio
(SR), reducing fuel consumption per BCM, shortening
overburden distance, and improving production,
utilities, equipment. This strategy aims at lowering
production costs. With this efficiency, the Company's net
profit more than doubled to USD123 million compared
to USD58 million in the same period last year.
• The Company remains upbeat about coal demand,
especially from Asia and Indonesia. The production
target for KPC and Arutmin is around 18 MT, depending
on market and weather conditions. In addition, BUMI
plans to diversify its revenue streams into non-coal
sectors in the medium term.
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4) Investor:
GCNEWC coal selling price saw a 28% decline in the first 9
months of 2024 compared to the same period in 2023. This
decline was greater than the benchmark ICI-3 which fell
13.6% and ICI-4 which fell 15.5%. Nonetheless, decline in
BUMI's coal selling price of only 13%, and KPC's selling price
decline of around 15% still look better than the global
average decline. This indicates a relatively more stable local
price performance despite the more significant pressure on
global prices.
5) Investor:
The Company focuses on reducing its dependence on fuel by
partially replacing the use of diesel fuel with biodiesel, in
accordance with government policy. In addition, solar
energy projects are being developed in KPC area.
KPC and Arutmin also prioritise sustainability in mining
activities through the implementation of responsible mining
practices and incentives that support this. Implementing
technology to capture carbon and reduce emissions
(although still under development), as well as trainings for
workers affected by mine closures to improve their skills.
Regarding the reduction in coal production, the Company
has no plan to increase coal production capacity or make
major investments in this sector. The Company's focus is on
optimising costs, improving margins and maximising
efficiency to make coal a medium-term revenue source. The
Company has also collaborated with a Chinese technology
partner for a project to process coal into chemicals, as part of
its revenue diversification strategy. In the next 3-5 years, the
Company targets non-coal revenue to reach a significant
proportion in line with national policy.
We hope all the informaton contained herein is sufficient.
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Documentation Annual Public Expose of PT Bumi Resources Tbk virtually. /Paparan Publik Tahunan/11-12-2024/Berita Acara.doc Hal 6 dari 6
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