NG Group not to revise production target despite weakening prices

By Cepi Setiadi

Indonesian based NG Group through subsidiary PT Euro Asia Exports & Industries (EAEI) is maintaining its target to produce 500,000 tons from its mine in East Kalimantan and South Kalimantan this year.

"We are still maintaining our current production target as it is to comply with our long term commitments with buyers," Biju Ng, President Director NG Group told Petromindo.com. "So we will not revise our target," he added.

Previously, the company stated to have produced about 200,000 tons from one concession in South Kalimantan and one in East Kalimantan in the first half of this year. The coal are mostly exported to India.

The company has five coal concessions in South Kalimantan and one in East Kalimantan. The company is expecting to produce more than 4,000,000 tons per year from four of the other concessions in South Kalimantan which are expected to start production by year end.

Editing by Er Audy Zandri