Kideco on track to meet 2011 coal output, Indika says
Thursday, June 9 2011 - 01:34 AM WIB
Indonesia-listed integrated energy firm PT Indika Energy Tbk reported Wednesday that it has sold 7.6 million tonnes of coal during the first quarter of this year from its partly-owned East Kalimantan coal miner PT Kideco Jaya Agung.
Finance director Azis Arman said selling price during the first quarter of this year averaged US$62 per tonne. ?Our coal revenue in the first quarter reached Rp 82.6 billion (1US$ = Rp 8,500), 85.2% higher compared to the same period of last year's Rp 44.6 billion,? he said.
The company is still on track to meet this year's target of 31 million tonnes, he said, adding that Kideco sells around 30 percent of its coal to domestic market, 7-8 percent to India and the remaining to South Korea and Taiwan. (giok)