Bayan maintains production target

By Cepi Setiadi

IDX-listed coal mining company PT Bayan Resources Tbk said it will maintain its production target of 10-12 million tons this year despite the lingering weak global coal market.

Bayan Director Jeanny Quentero told Petromindo.com on Monday the company is still on track to achieve the production target and will not revise the target. Jeanny, however, didn't reveal the progress of the firm?s coal output so far.

"We?re still eyeing the same target for this year," she said, while acknowledging that the company is slowing down spending this year.

Amid the lingering downturn in the global coal market marked by continuing drop in the price of the commodity due to a combination weak demand and oversupply situation, some coal miners reportedly have proposed to the Ministry of Energy and Mineral Resources for a revision of their original coal output target for this year, undermining the ministry?s coal output target of 425 million tons for this year.

Editing by Reiner Simanjuntak