GEMS eyes Southeast Asian markets
Monday, May 29 2017 - 03:13 PM WIB
IDX-listed coal mining firm PT Golden Energy Mines Tbk (GEMS) through its trading subsidiary PT GEMS Trading Resources Pte Ltd will try to penetrate new markets in Southeast Asia this year.
GEMS CEO Bonifasius told Petromindo.com on Monday that the company is looking to export coal to the Philippines, Vietnam and Thailand. ?Through our trading company, we?ll try new markets in the Philippines, Thailand and Vietnam,? he said.
He added that the company plans to sell between two million and three million tons of coal this year via its trading unit.
GEMS plans to produce 14.35 million tons of coal and to sell 15.37 million tons this year. About 70 percent of the full-year production target has been contracted, Bonifasius told this portal earlier.
Some 80 percent of the production will come from its South Kalimantan unit PT Borneo Indobara (BIB) with the balance produced from its Jambi mine PT Karya Inti Mining.
Editing by Reiner Simanjuntak