ITMG secures contracts for 77% of coal output target

Petromindo|Lucky

IDX-listed coal mining company PT Indo Tambangraya Megah Tbk (ITMG) said it has secured contracts for the bulk of its coal output target this year as the company plans to increase sales volume, Kontan reported on Friday.

?In the first quarter of this year, we have obtained sales contracts for 77 percent of the coal production target,? ITMG Finance Director Yulius Gozali told the paper.

The paper said that ITMG aims to increase coal production this year to around 25.9 million from 25.6 million tons last year. Meanwhile, sales volume last year was 26.7 million tons. The company said in March it was planning to increase sales volume this year to around 27 million tons, but the paper said the company was seeking for a 30 percent increase in sales volume this year.

ITMG, a local subsidiary of Thailand?s Banpu Group, has five coal mine units in Indonesia including PT Indominco Mandiri, PT Trubaindo Coal Mining, PT. Bharinto Ekatama, PT. Kitadin and PT Jorong Barutama Greston. ITMG sells its coal output to the domestic and export markets including Southeast Asia, Tawiang, China, South Korea, Japan, India, Pakistan, and Europe. (*)