ABM?s first-half coal output at 3.4m tons

IDX-listed integrated energy company PT ABM Investama Tbk said coal production in the first semester of this year reached 3.4 million tons, about half of full-year target of 6.5-7 million tons.

?Realized coal production in the first semester of 2015 was 3.4 million tons,? company Corporate Strategy Director Yovie Priadi told bisnis.com.

He did not provide comparative figure.

ABM originally set a coal production target of 8-9 million tons for this year. Yovie said that the full-year target was revised downward to around 6.5-7 million tons, slightly higher than last year?s realized output of 6 million tons, due to the current downturn in the global coal market particularly declining demand in key export markets of China and India.

As of March 30, 2015, ABM?s largest customer was state-owned electricity firm PT PLN which accounted for 16.28 percent of total sales, followed by Xiamen C&D Energy Resources Co Ltd (14.04%), and TAJ Asia Trading from India (11.79%).

ABM through its subsidiaries has coal concessions among others located in South Kalimantan and Aceh. (*)