ICN News – KGI’s performance in 2022 deserved high appreciation because it succeeded in exceeding the previously announced targets. In 2022 Resource Alam Indonesia (KKGI) successfully recorded revenues of US$ 254.96 million or an increase of 92.94% from that in the previous year of US$ 132.14 million. The net profit achieved was also fantastic with an increase of 69.78% to US$ 38.66 million from the previous year’s US$ 23.10 million.
Over the last three years (2021-2023), KKGI has really enjoyed high coal prices on the export market. During this period, demand for coal from export countries soared, especially India, South Korea and China. In 2022, of total coal sales of 3.37 million tons, sales contribution to India was 29.8%, followed by South Korea 27.4% and China 13.2% while the domestic market (Domestic Market Obligation/DMO) will contribute 20.7%. Detailed information is pictured below.
From revenues of US$ 254.96 million in 2022, India contributed the largest, namely US$ 77.29 million, followed by South Korea at US$ 67.66 million, China at US$ 33.49 million and the domestic market at US$ 43.98 million.
DEVELOPING NICKEL BUSINESS
KGI’s expansion is not only in the coal business but has started to diversify its business by entering the nickel mining business. According to KKGI Director Agus Soegiarto, the expansion was carried out by purchasing 70% of PT. Buton Mineral Indonesia (BMI) and Bira Mineral Nusantara (BMN).
This transaction is not an affiliate transaction. The transaction value is not material with a purchase price of Rp. 175 million at the nominal price of BMI shares and Rp. 175 million for BMN shares. The reason for purchasing shares is to prepare for expansion in the nickel mining business.
Agoes explained that considering that this transaction was not a material transaction; there would be no impact on the company’s operational, legal, financial condition or business continuity related to this acquisition.
Indonesia is a country with abundant natural resource potential, especially as a producer of nickel resources.
Below, the nickel producing areas are presented, including the presence of nickel, whether it is or is currently in the inventory (exploration)stage or has entered the production (mining) stage. The following is a list of names of nickel producing regions in Indonesia.
| Regional | District | Province |
| Bahadopi | Morowali | Central Sulawesi |
| Petasia | Morowali | Central Sulawesi |
| Menui | Kepulauan, Morowali | Central Sulawesi |
| Sindue | Donggala | Central Sulawesi |
Read more…
This article can be read in the February 2024 edition of ICN News Magazine.
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