- CEO
- Ray Antonio Gunara
- Full Time Employees
- 4,602
- Sector
- Energy minerals
- Industry
- Coal
- Address
- Deutsche Bank Building Jakarta JK Indonesia 10310
- IPO Date
- Oct 6, 2010
- Business
- PT Harum Energy Tbk (HRUM.JK) operates as an Indonesia-based holding company engaged in coal mining, nickel mining, processing and refining, and logistics activities primarily through subsidiaries in East Kalimantan, Central Kalimantan, and North Maluku; it produces low-ash, low-sulfur thermal coal with bituminous characteristics from multiple mines, including operations involving general survey, exploration, exploitation, and sales of coal and nickel deposits; provides coal shipping via tugboats and barges, coal handling, hauling road services, stockpiling, and crushing; and conducts nickel refining via subsidiaries such as PT Infei Metal Industry (IMI), which operates a nickel pig iron smelter with 28,000 tons per year capacity in Weda Bay Industrial Park, PT Westrong Metal Industry (WMI), PT Blue Sparkling Energy (BSE) for HPAL smelter development, PT Sunny Metal Industry, PT Position, PT Harum Nickel Perkasa (HNP), and PT Tanito Harum Nickel (THN), alongside investments in nickel mining and trading services. The company exports coal mainly to China, South Korea, Japan, Taiwan, India, Bangladesh, Thailand, Cambodia, Vietnam, and the Netherlands, targeting coal-fired power generation and manufacturing customers. Founded in 1995 as PT Asia Antrasit and renamed PT Harum Energy Tbk in November 2007, it is headquartered at Deutsche Bank Building, 9th Floor, Jl. Imam Bonjol No. 80, Jakarta Pusat, Indonesia, listed on the Indonesia Stock Exchange since October 6, 2010, and serves as a subsidiary of PT Karunia Bara Perkasa within the Tanito Harum Group. Recent developments include acquiring an additional 50.99% stake in IMI for USD 70.4 million in September 2023 to reach 99.99% ownership, purchasing a further 60.7% stake in WMI for IDR 3.4 trillion in first-quarter 2024, extending a USD 300 million loan to BSE for constructing a 67,000 tons per year HPAL smelter in Weda Bay, forming a strategic partnership in April 2024 with Eternal Tsingshan Group Limited via mandatory convertible bonds potentially granting up to 49% ownership in nickel assets held by HNP and THN, acquiring a 51% stake in Singapore-based Nickel International Capital Pte Ltd for IDR 640 billion in September 2024, and announcing a planned share buyback of up to IDR 1 trillion pending shareholder approval in September 2024.