Golden Eagle has contracted much of this year?s coal output target

By Thomas Sembiring

IDX-listed coal mining firm PT Golden Eagle Energy Tbk has so far secured coal sales contracts of 1 million tons, or close to this year?s production volume target of 1-1.3 million tons.

This was said by company President Director Roza P. Putra to Petromindo.com on Friday. He said that the bulk of the sales contracts were made with traders, both local and overseas, for delivery to the domestic market, China, and Southeast Asia.

Roza said that the company is currently engaged in ?serious talks? with a number of domestic coal buyers including power plant and cement companies. He declined to disclose the identity of the would-be buyers.

Golden Eagle, which has coal mines in South Kalimantan (run by indirect subsidiary PT International Prima Coal/IPC) and in South Sumatra (PT Triaryani), said previously it hoped to be able to produce about 1-1.3 million tons of coal this year.

Roza previously said that the company will seek to increase coal sales at home as the government has pushed for the development more coal-fired plants. The company is also looking to increase sales in Southeast region.

Editing by Reiner Simanjuntak