ICN News – BSSR is one of the coal companies which has experienced a high decrease in assets in the last three years (2023-2025). This is due to a decline in global demand, falling coal prices, and regulatory changes. According to ICN NEWS’s observations that in 2023 the total assets owned by BSSR were US$ 408.45 million. In 2024, the total assets decreased to US$ 383.12 million and even reach US$ 370.22 million by 2025.
BSSR was also recorded to experience a high production spike in 2023 reaching 21.57 million tons, an increase compared to that in the previous year of 15.52 million tons. Detailed information can be seen in the following table.
in million MT
| Description | 2025 | 2024 | 2023 | 2022 |
| Production | 17,84 | 21,35 | 21,57 | 15,52 |
| Sales | 17,58 | 20,79 | 21,88 | 14,96 |
BSSR’S REVENUE SURPASSED US$1 BILLION
BSSR high coal production in 2022 and the increase in coal prices on the global market also raised BSSR’s revenue to reach US$ 1.02 billion. This was a great and historic achievement for BSSR if compared to that in 2021 of US$ 691.37 million or an increase of 48.84%.
During the Covid-19 pandemic, BSSR was one of the coal companies whose performance remained good and managed to record a profit. The Covid-19 pandemic in 2020 was an extraordinary event which had never happened before and it is not certain when it will end. The pandemic has paralyzed the global and domestic economy. The coal industry was also affected by the pandemic and this caused the demand to weaken and the average sales price of coal to fall. Various efforts to prevent the spread of the pandemic had been carried out well. BSSR was able to survive and even posted quite good operational performance and profits thanks to its ability to adapt. In that year, the Company was able to quickly take efficiency steps to reduce production costs.
The export market contributed the most to BSSR’s revenue in 2022 because more than 80% of BSSR coal was exported to various countries. China was the largest market for BSSR, followed by India and the Philippine’s markets. In 2022, coal sales to China amounted to US$ 381.63 million, followed by India of US$ 303.12 million and the Philippines of US$ 131.52 million. The largest foreign companies supplying BSSR coal were Coastal Gujarat Power Ltd (India), Tata International Singapore Pte Ltd and Brooklyn Enterprises Pte Ltd.
To find out the countries supplying BSSR coal and their purchase value in 2022 – 2023, it can be seen in the following table :
in USD
| Countries | 2022 | 2023 | Growth | |
| Million MT | % | |||
| China | 381,635,210 | 633,966,472 | 252,331,262 | 66.12 |
| India | 303,118,087 | 205,614,401 | (97,503,686) | 24.04 |
| Indonesia | 169,583,027 | 210,351,245 | 40,768,218 | (32.17) |
| Philippines | 131,522,900 | 59,939,477 | (71,583,423) | (54.43) |
| South Korea | 29,473,376 | 8,222,165 | (21,251,211) | (72.10) |
| Thailand | 6,945,675 | 7,233,858 | 288,183 | 4.15 |
| Kroasia | – | 5,894,010 | 5,894,010 | 100.00 |
| Vietnam | – | 2,572,460 | 2,572,460 | 100.00 |
| Cambodia | 3,699,939 | 542,518 | (3,157,421) | (85.34) |
| Malaysia | 3,037,650 | – | (3,037,650) | (100.00) |
| Total | 1,029,015,864 | 1,134,336,606 | 105,320,742 | 10.24 |
Meanwhile, BSSR’s coal purchases in 2024–2025 experienced a significant decline in value, as shown in the table below :
in USD
| Description | 2024 | 2025 | Growth | |
| million MT | % | |||
| Luar Negeri | 740,932,440 | 508,422,271 | (232,510,169) | (0.31) |
| Indonesia | 206,837,020 | 195,351,470 | (11,485,550) | (0.06) |
| Total | 947,769,460 | 703,773,741 | (243,995,719) | (0.26) |
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This article can be found in the April–May 2026 issue of ICN News Magazine.
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