MME eyeing only 850,000 output for 2014

By Cepi Setiadi

Coal mining company PT Manambang Muara Enim (MME) significantly cuts its production target for next year as the firm believes slowdown in the coal industry will continue.

The firm targets to produce about 850,000 tons in 2014 from its concession Tanjung Enim, South Sumatra, down from this year?s target of 1.5 million tons, but higher than the estimated realized production this year.

Edi Wibowo, director of MME told Petromindo.com on Tuesday that the 2014 target is considered realistic as throughout this year the company will only produce about 600,000 tons compared to the target of 1.5 million tons.

"Our strategy is to wait and see while observing the market, and a 850,000 ton output in 2014 is a realistic target to secure cash flow," he said adding the majority of the output will be allocated for domestic market.

Editing by Johannes Simbolon