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He also said the company had produced 14.3 million tons of coal between January and Feb. 20 this year with the aim of producing 7.5 million tons in March “and hopefully in April as well if we can.”Bumi, like other coal miners around the world, is uncertain about the global coal demand in 2020. The uncertainty mainly arises from indefinite lockdowns in Asian economies, which consumes almost three-fourths of the global coal supply, as the region works to contain the spread of COVID-19.“We intend to review the situation arising from the global pandemic next month and will fine tune as appropriate,” said Srivastava.Company stocks, traded at the Indonesia Stock Exchange (IDX) as BUMI, were unchanged on Tuesday, although the benchmark Jakarta Composite Index (JCI) rose 1.68 percent at the close of afternoon trading.Topics : Indonesia’s largest thermal coal miner, PT Bumi Resources, booked a US$6.84 million profit in 2019, down 97 percent from $220.4 million in the previous year partly due to falling coal prices and higher fuel-related costs.The publicly listed company’s revenue only increased 0.06 percent year-on-year (yoy) to $1.11 billion in 2019 even though sales volume – largely driven by subsidiary Kaltim Prima Coal (KPC) – rose 9 percent to a “record high” 87.7 million tons over the same period. Slumping coal prices severely hurt the company’s profit margins.Bumi’s cost of revenue grew 0.6 percent to $1 billion, “due largely to higher costs, largely oil price,” according to BUMI corporate secretary Dileep Srivastava.
Russian President Vladimir Putin and North Korean leader Kim Jong Un are talking about North Korea’s nuclear weapons program, two months after talks between Kim and President Trump broke down. Kim and Putin met today on an island near the eastern Russian port city of Vladivostok.Putin afterward expressed his willingness to be a mediator in stalled talks between the U.S. and North Korea.Trump and Kim walked away with no deal in February after talks in Vietnam fizzled.Kim insisted on the lifting of all sanctions against the isolated communist state in exchange for limits on the North’s nuclear program.But, there are reports that while Kim Jong Un was smiling and waving with Vladimir Putin in Russia, there was a house cleaning in the upperechelon of his regime with the possible execution of four top officials who allegedly took bribes to leak information to the US during thefailed negotiations in Vietnam.Kim Jong-un ordered the execution by firing squad of four foreign ministry officials after the failure of his Hanoi summit with Donald Trump, report claims…. https://t.co/fLLeQkX0la— KACU News (@KacuNews) April 25, 2019