Mitrabara estimates first-half coal output at 2m tons

By Brigida Ernestina Elu Wea

IDX-listed coal mining firm PT Mitrabara Adiperdana Tbk estimated coal production in the first six months of this year to reach two million tons, or half of the full-year target of four million tons.

Company Corporate Secretary Chandra Lautan told Petromindo.com that mining operation has been running well and that the company is on track to meet its full-year production target.

He said that output in the first quarter of this year reach 1 million tons, and estimated the same volume for the second quarter. The company has yet to complete the final production report for the second quarter.

As has been reported previously, Mitrabara set a flat production target of four million tons this year, despite the current lingering weak coal price where many miners have decided to slash production as part of cost-saving measures.

Chandra, however, said that Mitrabara has decided to maintain output level this year the same as last year?s as the company is quite optimistic with its premium coal products, and that it has to meet long-term contracts signed with buyers.

The company?s export markets include China, Japan, the Philippines and Taiwan. The company is seeking new markets this year.

Editing by Reiner Simanjuntak