Golden Energy to boost coal output this year

By Thomas Sembiring

Petromindo

IDX-listed coal mining firm PT Golden Energy Mines Tbk plans to boost coal output this year to around 15 million tons from last year?s production target of 10 million tons.

?Output will increase this year to around 15 million tons,? R. Utoro, Director at Golden Energy, said to Petromnido.com recently.

He added that the company aims to keep on increasing coal production until reaching its peak of around 36 million tons by 2021 to help meet domestic growing domestic demand as well as to supply coal for coal-fired power plant projects run by affiliates. Golden Energy is part of the well-diversified Sinar Mas Group.

Golden Energy has coal concessions located in South Kalimantan, Central Kalimantan, Jambi, and South Sumatra provinces.

SGX-listed Golden Energy and Resources Limited, which owns 67 percent shares in Golden Energy Mines (GEMS), said early this month that GEMS subsidiary PT Borneo Indobara plans to produce 12 million tons of coal this year.

Editing by Reiner Simanjuntak