PKN on track to meet revised output target

By Thomas Sembiring

North Kalimantan coal miner PT Pesona Khatulistiwa Nusantara (PKN) said that production in the third quarter of this year reached 300,000 tons.

PKN Director of Business Development Tria Suprajeni told Petromindo.com on Wednesday that the company is on track to meet its revised production target of around 1.5 million tons this year.

PKN said previously that production in the first semester of this year totaled 594,790 tons, well below the initial half-year target of 1 million tons.

The lower than expected first-half production then forced PKN to trim down its initial full-year production target of 2 million tons to 1.5 million tons.

President Director Jeffrey Mulyono said last month that despite improving trend in the price of coal since early this year, demand remains week.

PKN exports much of its coal output to India. The company operates mines in Sekayan, Bulungan Regency, North Kalimantan Province.

Editing by Reiner Simanjuntak