The Indonesian coal business found its glory again in 2022 and 2023 after weakening in the previous year. According to the Ministry of Energy and Mineral Resources that national coal production in 2022 reached 687 million tons, an increase compared to that in 2021 of 614 million tons. This high coal production was due to high demand for coal, both at home and abroad. In 2024, the target for national coal production is 710 million tons.

The increase in Indonesian coal production is followed by the high performance of domestic coal company groups, which continue to expand and to increase their production capacity by spending large investments. The results of CDMI CONSULTING’s investigation into the TOP 35 groups of Indonesian coal companies that in 2022 and 2023, most of these group companies were successful in achieving fantastic revenues and profits.

In 2022 UNITED Tractors successfully recorded revenue of Rp. 123.60 trillion with a profit of Rp. 21.00 trillion, ADARO Group of US$ 8.10 billion with a profit of US$ 2.49 billion, BAYAN Group of US$ 4.70 billion with a profit of US$ 2.17 billion, INDIKA Group of US$ 4.33 billion with a profit of US $ 452.67 million, INDO Tambangraya Megah Group of US$ 3.63 billion with profits of US $ 1.20 billion, BUKIT ASAM
Group of Rp. 42.64 trillion with a profit of Rp. 12.56 trillion, Golden Energy Mines Group of US$ 2.91 billion with profits of US$ 680.37 million, BUMI Resources Group of US$ 1.83 billion with profits of 525.27 million, BARAMULTI Group of US$ 1.29 billion with profits of US$ 239.89 million, Harum Energy Group of US$ 904.43 million with a profit of US$ 301.75 million, TOBA Group of US$ 635.79 million with a profit of US$ 57.82 million and many others.

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