Golden Energy expects to sell 9 million tons of coal in 2013
Wednesday, December 19 2012 - 01:14 AM WIB
Publicly listed coal mining company PT Golden Energy Mines Tbk expects to increase its sales volume to between 8 and 9 million tons of coal next year from this year's target of 7.4 million tons, the company?s senior executive has said.
The company?s President Director Fuganto Widjaya said that about 6 million tons of the total sales volume would come from the company?s own production and about 2 million tons would be purchased from coal traders.
?In order to achieve the target, we will allocate capital expenditure of between $40 and $50 million from our internal sources of funds to boost production,? Fuganto told Petromindo.com during the company?s public expose.
He hoped about 65 percent of the coal would be exported and the other 35 percent would be sold in the domestic market. ?The larger part of the coal will be exported to China and India,? he added.
Fuganto estimated this year?s sales volume would reach 7.4 million tons of which about 5.3 million tons of the total come from the company?s own production and the other 2.1 million tons are purchased from coal traders.
Golden Energy Mines operates coal mines in South Kalimantan, Central Kalimantan and Jambi.
Editing by Adianto P. Simamora