ITM eyes 29MT sales in 2013
Monday, April 29 2013 - 02:56 AM WIB
IDX-listed coal miner PT Indo Tambangraya Megah (ITM) expects to sell 29 million tons of coal from its five mines in Kalimantan in 2013 with 81 percent of the volume having been contracted.
According to the company?s presentation obtained by Petromindo.Com, price of 54 percent of the planned sales volume has been settled and 19 percent will be settled using index.
In 2012, the company sold 27.2 million tons of coal, 54 percent of which was sold to China, Japan and India.
The company plans to produce 29 million tons this year, up from 27.5 million tons last year, due to increase of production from its newly producing mine PT Bharinto Ekatama in East and Central Kalimantan.
During the first quarter of this year, the company has produced 6.7 million tons of coal.
ITM is a subsidiary of Thai energy giant Banpu PCL. ITM operates five coal mines namely PT Indominco Mandiri, PT Trubaindo Coal Mining, PT. Bharinto Ekatama, PT. Kitadin and PT Jorong Barutama Greston.
Editing by Alexander Ginting