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The Fall of the Coal Giant Shares

Monday, October 31, 2022

The SOEs ministry encourages Bukit Asam to purchase PLN’s Palabuhanratu Coal-Fired Steam Power Plant following difficulties to find investors for its early retirement program, much to the chagrin of Bukit Asam’s shareholders.

arsip tempo : 170136528192.

An employee operates a stacker reclaimer heavy machinery to transfer coal to a conveyor belt at the Airlaya coal mining region owned by Bukit Asam in Tanjung Enim, Muara Enim, South Sumatra, November 2021. ANTARA FOTO/Nova Wahyudi/File Photo . tempo : 170136528192.

A DEAL signed in Nusa Dua, Bali, on Tuesday, October 18, caused Bukit Asam (IDX: PTBA) shares to plummet. Throughout the week, PTBA remained unable to climb up from the red zone just yet. On Friday’s trade, October 28, the coal mining giant’s stock price closed at Rp3,790, down 10.8 percent from Monday’s position.

Stock market investors were still affected by the agreement between PTBA and state electricity company PLN on the s


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