Borneo likely miss production target this year

IDX-listed Borneo Lumbung Energy and Metal said that the company was likely to miss production target this year due to uncertain weather condition hampering transportation of its coking coal.

?It is likely our production would only reach about 3 million tonnes this year,? Director and Corporate Secretary Geroad Jusuf told the Coal Asia Magazine on the sidelines of the company?s extraordinary stakeholder meeting on Friday.

Borneo, the countrya?s largest coking coal producer, targeted to produce about 3.5 million tons of coal this year.

He said that the uncertain rainfall had also hampered the transportation of heavy equipments to the company?s sites.

?But, we believe our production could exceed 3.5 million tonnes next year,? he said, adding that the company would discuss the exact target for next year in January.

The company marketed most of its coking coal to exporting countries among others China, India and Japan. (adianto)