ICR only produces 300,000 up to Q3 ?

By Cepi Setiadi

Coal mining company PT Indonesia Coal Resources (ICR), a wholly owned subsidiary of state owned miner PT Aneka Tambang Tbk (Antam), only produced 300,000 tons of coal as of September 2013 from its coal mine in Sarolangun, Jambi province, much lower than the initial production target of 1 million tons throughout the year.

President Director Bachtiar Maggalatung told Petromindo.com on Thursday that the firm is not interested to produce much coal at present amid the bearish coal market.

"Since the price of coal is low, we are lowering our production. Hopefully in the early 2014 the price will recover, so that we can ramp up the production," Bachtiar said adding that for 2014 the company will again set the target of 1 million ton output.

"We plan to produce 1 million tons. However if the price offer a significant margin, we will surely raise up our production target," he said.

Editing by Johannes Simbolon