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Adaro posts higher coal production and sales in Q3
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A coal mining site in Balangan, South Kalimantan. (The Jakarta Post/R. Bertho Wedhatama)
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ublicly listed coal miner PT Adaro Energy announced on Thursday its third quarter report with a total coal production of 14.93 metric tons (mt) and sales of 15.47 mt, a 5 percent and 9 percent increase year-on-year, respectively.
The increase in coal production was a result of improved weather conditions during the third quarter, Adaro said in a statement.
“Quarter-on-quarter production and sales increased 14 percent and 20 percent due to improved weather conditions in the third quarter," it said.
However, Adaro's total coal production of 38.98 mt in the first nine months of 2018 was 1 percent less than the same period last year, which was recorded at 39.36 mt.
Total sales volume in the first nine months of 2018 was 39.27 mt, which was relatively flat compared to sales in the corresponding period of last year, which was 39.44 mt.
Sales to Southeast Asia countries, including Indonesia, comprised 38 percent of its total nine-month sales, to East Asia 31 percent and to India and China 13 percent each.
"Sales to India were higher than the sales in the same period last year due to the significant increase in India’s demand for coal," Adaro stated.
The company also revealed that progress in two of its power plant projects -- by PT Bhimasena Power Indonesia and PT Tanjung Power Indonesia – up to September reached 57 percent and 96 percent, respectively. (bbn)
