PT Bayan Resources Tbk. (BYAN) is targeting a coal production of 69-72 million tons in 2025. This is an increase from the 2024 target of 55-57 million tons. Bayan Resources' management stated that coal production volume in 2025 is expected to rise by 20% to 25%, due to continued expansion in the Tabang concession. Meanwhile, for this year, BYAN's draft figures estimate coal production at 57 million tons.
"The total production for 2025 is planned to be in the range of 69 million tons to 72 million tons," wrote BYAN's management on Friday (December 27, 2024).
In addition, BYAN's coal sales volume is projected to be in the range of 70 million tons to 72 million tons next year. This represents a 25% to 30% increase compared to 2024, with estimated sales around 56 million tons.
The average selling price (ASP) is expected to range between USD 58 and USD 60 per ton, based on the benchmark Newcastle reference price, which averages USD 125 per ton, and for ICI4, the average is USD 55 per ton for 2025. With these production volumes, sales projections, and price estimates, BYAN forecasts revenue in 2025 to reach between USD 4.1 billion and USD 4.4 billion.
During the period from January to September 2024, BYAN recorded coal production of 40 million tons. The company explained that production in Q3 2024 fell short, reaching 14.4 million tons, compared to the target of 16.8 million tons for Q3 2024. "Coal production through Q3 2024 was lower than budgeted due to lower overburden removal, which led to lower coal extraction," stated BYAN's management.
For three consecutive quarters, BYAN achieved coal production of 14 million tons in Q1 2024, 11.6 million tons in Q2 2024, and 14.4 million tons in Q3 2024.
For the year 2024, BYAN is targeting coal production of 55 million to 57 million tons, an increase from the estimated actual production in 2023 of 48 million tons.
