Golden Energy looking for coal of high calorific value

By Hiski Darmayana

IDX-listed coal miner PT Golden Energy Mines is looking to acquire a new coal mining concession with a calorific value of over 5,000 kcal/kg.

"We want coal of high calorific value. The type of coal that under the current condition is still feasible (to develop)," said Director Bambang Heruawan to Petromindo.com on Thursday during a company's gathering in Jakarta.

For 2013, the company has set a target to produce 5.5 million tons of coal. Combined with existing stocks, the firm expects to sell a total of 8.6 million tons of coal until the end of the year.

Overseas market absorbs about 50 percent of the firm's coal, with China and India being the biggest buyers.

Editing by Dadan Wijaksana