Golden Eagle?s Q1 output at 290,000t, eyes power plant business
Friday, June 3 2016 - 02:04 AM WIB
IDX-listed coal mining firm PT Golden Eagle Energy Tbk produced 290,000 tons of coal in the first quarter (Q1) of this year, or about 25 percent of the full-year target.
This was said by Golden Eagle President Director Roza Permana Putra to Petromindo.com on Thursday.
The company, which has coal mines in South Kalimantan (run by subsidiary PT International Prima Coal/IPC) and in South Sumatra (PT Triaryani), said previously it hoped to be able to produce about 1.3 million tons of coal this year.
Roza said that sales volume target for this year is at 1 million-1.2 million tons, of which which about 1 million tons will come from IPC, and the remainder from Triaryani mine.
Meanwhile, Roza said that the company is eying power plant business as part of diversification strategy to help cope with the lingering drop in the global coal market. He said that Golden Eagle will set up a consortium with other firms to participate in power plant tenders held by state-owned electricity firm PT PLN.
Regarding the coal market for this year, Roza 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