Message from Management

“Overcoming Challenges Together, Achieving Sustainable Growth”

The prolonged Covid-19 pandemic has forced and continues to push the Company to be alert in making various adjustments to keep the business running. Nevertheless, amid this challenging year, the Company was still able to survive and recorded an excellent performance, supported by a sharp increase in global coal prices. Seeing the opportunity for business growth ahead, the Company utilized the momentum of the increase in coal prices by boosting production and increasing sales to partners.
With relentless hard work and solid synergy, the Company proudly managed to recover from a net loss of USD12.52 million in 2020 to a net profit of USD84.25 million in 2021. This achievement demonstrates the Company's success in realizing exponential net profit growth of up to 772.96%. In addition, the Company's revenue also recorded impressive growth, from USD142.70 million in 2020 to USD307.00 million this year.

All the achievements and sustainability efforts undertaken by all employees to advance the Company are the basis for the management to carry out the annual report theme "Overcoming Challenges Together, Achieving Sustainable Growth". Along with the positive trend in coal prices ahead, the Company is optimistic that it can achieve a better performance in the coming year. At the same time, we are also committed to always practicing ESG (Environmental, Social, and Corporate Governance) values in our daily mining activities that have now become a global concern.