Golden Eagle to boost coal output to 3m tons
Friday, June 20 2014 - 02:14 AM WIB
IDX-listed coal miner PT Golden Eagle Energy Tbk said that production this year was targeted to jump by 183 percent to 3 million tons from 1.06 million tons last year.
The company said in a filing with the Indonesia Stock Exchange Thursday that sales volume last year totaled 1.22 million tons with average selling price of Rp 553,722 per ton.
The company confirmed an earlier report that it was planning to acquire a coal concession, reportedly to be either located in South Sumatra or East Kalimantan.
Golden Eagle currently has two coal concessions, one in East Kalimantan and another in South Sumatra, which the company said have combined resources of 400 million tons, and reserves of 250 million tons.
Editing by Reiner Simanjuntak