DEWA Focus on Mineral Mining
DEWA Focus on Mineral Mining
DEWA Focus on Mineral Mining. Darma Henwa Tbk (DEWA) began to seriously worked on mineral mining business. Issuers who have been running coal business have now developed a number of mineral mining projects. In 2019, DEWA has achieved contract for the construction of tin and zinc mining access road belonging to Dairi Prima Mineral in North Sumatera. The value of the project contracts that they achieved this past April amounted to USD 29.9 Billion.
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Corporate Secretary and Chief Corporate Service Officer DEWA, Mukson Arif Rosyidi said, at this time the process of building access road mines in Dairi Prima Mineral took place well. Furthermore DEWA also offers civil contractor services and prepare a mine infrastructure in Dairi Prima Mineral, said Mukson.
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Indeed, the DEWA project is not just that. Now, they also get supervision work for mine development project from Citra Palu Mineral in Sulawesi region. The project, added Mukson, became the gateway for the DEWA to get another job in the field of non coal mining.
However Mukson has not been able to convey the magnitude of capital expenditure (capex) for expansion of DEWA in the field of mineral mining. Because, the process of conversation with clients is still ongoing. For sure, mineral mining will add to the overall portfolio of DEWA business. These achievements can have a positive impact on their financial performance.
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The business development of DEWA refers to three segments, namely coal, non coal, and the management of coal ports, said Mukson. At 1H19, DEWA recorded revenues growth of 11.7% YoY to USD 129.57 Million. The largest revenue is still derived from related party revenues of USD 125.31 Million or 96.71% of the total revenue of DEWA. The remaining 3.29% is derived from third party revenues of USD 4.26 Million.
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DEWA targets to be able to dredge 17 million tonnes of coal until the end of 2019. This Target rose from the realization last year as much as 13.5 million tonnes. DEWA hopes that coal production in next year could be higher than this year, even though the commodity price of the mine was still fluctuation.
As of July 2019, the coal mining construction issuer has realized nearly 50% of the production target. This figure increased rapidly compared to the period of June 2019 which is 6.77 million tonnes or about 39.8% of the total target.
