Rains hamper Archean from meeting coal target

By Adianto P. Simamora

Petromindo|Khalsa

India?s diversified industrial conglomerate Archean Group missed its Indonesia coal production target during the first five months of this year due to heavy rains, according to a government source.

The source told Petromindo.com on Monday that production from three of the group?s coal mines in Indonesia as per May 17 only reached 1.1 million tons, lower than the targeted 1.7 million tons.

The company is eyeing to produce 3.5 million tons this year.

The three coal concessions are run by subsidiaries, namely PT Bara Kumala Sakti (BKS) in East Kalimanta, PT Pacific Global Utama (PGU) in South Sumatra and PT Kaltim Global (KG) in Bengkulu.

The company?s website says that Archean Indonesia?s coal operation commenced in the year 2004. Archean?s thermal coal is exported to India, China, Thailand, Malaysia, Vietnam, Philippines and also supplied to power plants and factories located in Indonesia.

Editing by Reiner Simanjuntak