TIA's 2012 output declines

By Edgar Subroto

South Kalimantan coal miner PT Tunas Inti Abadi (TIA), a coal unit of PT Reswara Minergi Hartama recently reported to produce around 3.3 million tons of coal during 2012, lower compared to the previously revised target of 4 million tons, a source in the industry told Petromindo.com.

TIA has lowered its coal output due to unfavorable market situation, yet the company is planning to produce around 4.5-5 million tons of coal this year. "But all depends on market situation," the source said.

On July 13, 2012, Reswara Minergi Hartama entered into a 5 year term sales and marketing agreement with Avra Commodities Pte Ltd, granting it exclusive rights to market and sell 15 million tons of TIA Compliant Coal (TCC) to Thailand, the Philippines, Taiwan, and selected buyers in China. The term of the deal is from July 2012 to July 2017.

Reswara is the coal mining unit group of IDX-listed PT ABM Investama Tbk

Editing by Er Audy Zandri