Govt approves Kideco?s plan of production to 43 MT

Central government has approved the plan from East Kalimantan coal miner PT Kideco Jaya Agung, Indonesia?s third largest coal producer, to ramp up its yearly production to 43 million tonnes within the next three years.

The official said that Kideco will produce a total of 31.5 million tonnes this year, surpassing the target of 30 million tonnes set earlier.

For next year, the company plans to produce 34 million tonnes, the official said, adding that around 90 percent of the total has been committed for Kideco?s existing buyers and the remaining 10 percent is still open for new potential buyers.

The official did not give further detail whether committed coal supply is also already fixed in price or not. (denny)