Thriveni halts coal production in Jambi

By Cepi Setiadi

Coal mining company PT Thriveni, a subsidiary of Indian mining firm Thriveni Earthmovers, through its subsidiary PT Minemex Indonesia, an IUP?s holder in Sarolangun Jambi Province, stated that it has halted its coal production in Jambi due to the fall of coal prices to the lowest-ever level.

C. Kumaresan, Thriveni?s Country Head in Indonesia told Petromindo.com that the company has stopped its coal production starting this month..

?We only produced coal until May 2015 and we have so far produced up to 900,000 tons this year, against the target of 1.8 million tons, but the coal prices has fell to the level below the production cost. Hence we decided to halt the operation,? he said adding that the company still has around 200,000 tons in stockpile.

Kumaresan revealed that this is the first time the company has halted its production after commencing production in 2010. ?We expect by October the market will be getting better so that hopefully we will resume our activity,? he said.

Editing by Johannes Simbolon