Harum Energy sells 3.6 million tons of coal in Q1

Hiski Darmayana

PT Harum Energy Tbk, a holding company which is engaged in coal mining and logistics activities, reported its coal sales reached 3.6 million tons in the first quarter with the average price of US$94 per ton.

"Some 39 percent of the sales was to South Korea, 33 percent to Taiwan, 15 percent to China and 9 percent to Malaysia," President Director of Harum Energy Ray Antonio Gunara said.

The sales contributed Rp 2,6 trillion to the company's income or an increase of 77 percent from the Rp1,5 trillion in the same period last year.

Harum Energy targets the sales volume of 14 million tons this year, of which some 70 percent would be through contracts and the remaining under the spot prices.

Editing by Adianto P. Simamora