Jakarta - PT Bayan Resources Tbk (BYAN) projects to achieve a net profit of around US$2 billion by the end of this year.

The Director of Bayan Jenny Quantero said that the average sales price in the fourth quarter of this year is approximately the same as in the third quarter at around US$118 per metric ton.

"With this assumption, we anticipate earning a profit of approximately US$2 billion," Jenny stated on Wednesday (12/7).

She added that this year Bayan targets coal production of 40 million tons.

"Currently, we are still in the process of preparing the 2023 budget, but we estimate that Bayan's production will reach approximately 45 million tons in 2023," she added.

Meanwhile, the plan for Bayan's current sales is 25% for the domestic market, and the rest will be exported.

Furthermore, Bayan is planning to build solar PV at the barge loading facility in Senyiur to supply additional electricity