July 26, 2012
Production by Indonesia’s coal miners reached 150 million metric tons in the first half of this year, which was equivalent to 45.2 percent of the country’s total target this year, a government official said.
Thamrin Sihite, director general of minerals and coal at the Energy Ministry, said on Tuesday that total coal production was set at 332 million metric tons this year. He did not provide comparative figures for last year.
Thamrin said that around 120 million tons of the commodity were sold to overseas market such as China, India, Pakistan, Thailand and Sri Lanka. The remaining 30 million tons were sold in the domestic market.
“We need to boost production in the second half of this year,” he said, without elaborating on how to do so.
Kalimantan, the biggest island in the archipelago nation, is rich in natural resources such as coal, oil and natural gas, and it is home to many of the country’s coal producers such as Bumi Resources, Adaro Energy, Harum Energy.
Thamrin said that this coal production target was higher than the 132.35 million tons in 2004 and 290 million tons in 2011. Each year, 30 percent of coal must be sold in the domestic market, with the rest to overseas market.
The chairman of the Coal Mining Association (APBI), Bob Kamandanu, said previously that coal production targets by Indonesia were set at 390 million tons this year, higher than the 332 million tons set by the government. The association takes into account the production by small coal companies, while the government does not include that data.
Indonesia is the world’s second-biggest shipper of thermal coal, with 20.8 billion tons of proven coal reserves, according to the Energy and Mineral Resources Ministry.
The release of the coal production data did not help to lift sentiment on the stock of coal miners in the local stock market. In general, shares of coal-producing companies fell, with Bumi Resources dropping 0.9 percent to Rp 1,060, shares of Adaro sliding 0.7 percent to Rp 1,350 and stocks of Harum Energy falling 3.5 percent to Rp 5,600 on the Indonesia Stock Exchange on Wednesday.
Investor Daily
Production by Indonesia’s coal miners reached 150 million metric tons in the first half of this year, which was equivalent to 45.2 percent of the country’s total target this year, a government official said.
Thamrin Sihite, director general of minerals and coal at the Energy Ministry, said on Tuesday that total coal production was set at 332 million metric tons this year. He did not provide comparative figures for last year.
Thamrin said that around 120 million tons of the commodity were sold to overseas market such as China, India, Pakistan, Thailand and Sri Lanka. The remaining 30 million tons were sold in the domestic market.
“We need to boost production in the second half of this year,” he said, without elaborating on how to do so.
Kalimantan, the biggest island in the archipelago nation, is rich in natural resources such as coal, oil and natural gas, and it is home to many of the country’s coal producers such as Bumi Resources, Adaro Energy, Harum Energy.
Thamrin said that this coal production target was higher than the 132.35 million tons in 2004 and 290 million tons in 2011. Each year, 30 percent of coal must be sold in the domestic market, with the rest to overseas market.
The chairman of the Coal Mining Association (APBI), Bob Kamandanu, said previously that coal production targets by Indonesia were set at 390 million tons this year, higher than the 332 million tons set by the government. The association takes into account the production by small coal companies, while the government does not include that data.
Indonesia is the world’s second-biggest shipper of thermal coal, with 20.8 billion tons of proven coal reserves, according to the Energy and Mineral Resources Ministry.
The release of the coal production data did not help to lift sentiment on the stock of coal miners in the local stock market. In general, shares of coal-producing companies fell, with Bumi Resources dropping 0.9 percent to Rp 1,060, shares of Adaro sliding 0.7 percent to Rp 1,350 and stocks of Harum Energy falling 3.5 percent to Rp 5,600 on the Indonesia Stock Exchange on Wednesday.
Investor Daily
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