Kideco produces 22MT of coal in 9-month period

East Kalimantan coal miner PT Kideco Jaya Agung has produced 21.5-22 million tons (MT) of coal for January-September period, the company?s senior officer said.

Kideco's managing director CH Richard Lee told Petromindo.Com on Wednesday that it is on track to produce 29 million tons of coal this year, up from 24.7 million tons last year, despite the recent closure of its mines by the government and unfavorable weather conditions.

For next year, the company is set to produce around 31 MT, he said.

In an August statement, he said that the production in the January-July period reached 16 million tons. He also said that the company will gradually increase its output to the ultimate target of 40 million tons per annum (MTPA) starting 2015.

Kideco is the country?s third largest miner with 50,400 ha concession. Indonesia-listed energy firm PT Indika Energy Tbk has a 46 percent stake in Kideco, while South Korean firm Samtan Co. Ltd owns 49 percent and local company PT Muji Inti Utama 5 percent. (denny)