Inovisi targets 5m ton coal production next year

By Hiski Darmayana

IDX-listed diversified firm PT Inovisi Infracom Tbk targets to produce 5 million tons of coal from its two concessions located in East Kalimantan and South Kalimantan respectively.

?Our target for next year is 50 million tons, 80 percent of which will go to China,? Finance Director Ooi Kock Aun a.k.a Adrian told Petromindo.com on Wednesday.

This year, the firm has targeted a production of 3.3 million tons. Until September, the firm has produced a total of 2.6 million tons, most of which were shipped to China, according to him.

He said both concessions, located in Banjarmasin, South Kalimantan and Melak, East Kalimantan respectively, hold a combined 98 million tons of coal deposits with calorie content of 5,500 kcal.kg The firm acquired both concessions last yea, a move which marked the firm?s first expansion into the mining sector by the company which also has business in telecommunication, shipping, oil and gas and real estate.

Editing by Johannes Simbolon