MME projected to miss production target ?

By Cepi Setiadi

Coal mining company PT Manambang Muara Enim (MME) stated it would not be able to reach its target of producing 1.5 million tons of coal this year from its coal mine in Tanjung Enim, South Sumatra.

Director Edi Wibowo told Petromindo.com on Monday the firm only produced 300,000 tons in the first half of the year, less than half of the annual target of 750,000. "For the second half year, we expect to produce about 500,000 tons. Thus, the yearly target is not achievable," he said.

The firm would not push itself to reach the target in view of the bearish market which is expected to continue through the second half of the year.

"We don't want to produce an amount which the market is not able to absorb, because it will be costly," he said.

Previously, the company said that it had stopped exporting its coal?due to the bearish market.

Editing by Johannes Simbolon