Atlas to jack up production in 2014

By Hiski Darmayana

IDX-listed coal producer PT Atlas Resources Tbk has set a production target of 3 million tons next year, a whopping 76 percent increase from this year?s estimated 1.7 million tons.

The production will still come from two of its 6 concessions, namely the Hub Muba in South Sumatra and Hub Kukar in East Kalimantan.

?The production will come from those mines, as the other four concessions produce a high calorific value of between 5,000 and 6,000 kcal, the market of which we calculate as not feasible,? said Director Joko Kus Sulistyoko to Petromindo.com on Friday.

The company estimated that sales this year would reach around 2 million tons.

?For next year, about 1.7 million tons will be for domestic market, mostly PLN. The rest will be exported to East Asia and India. This will be vastly different from this year?s composition where domestic market only accounts for 6 percent as against 94 percent export, all to India.?

The other four concessions are Hub Berau (East Kalimantan), Hub Kubar (East Kalimantan), Hub Oku (South Sumatra) and Hub Papua.

Editing by Dadan Wijaksana