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Adaro maintains coal production target for 2019
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A backhoe loads coal onto a heavy-duty truck at Adaro Energy's site in Kalimantan. (Courtesy of http://www.adaro.com//-)
P
ublicly listed coal miner PT Adaro Energy on Monday released its operation guidance for 2019, which maintained the production target at between 54 million and 56 million tons of coal after it produced 54.04 million tons last year.
The EBITDA [earnings before taxes, depreciation and amortization] for 2019 is between US$1 billion and $1.2 billion and capital expenditure is set at $450 million to $600 million, according to Adaro’s press statement.
Adaro also announced its fourth-quarter report of 2018 with coal production at 15.06 million tons and sales of 15.12 million tons, a 21 percent and 22 percent increase year-on-year (yoy) respectively.
The miner saw a 2 percent decline in coal sales compared to sales in the previous quarter.
Adaro closed 2018 with total coal production at 54.04 million tons, which was in line with their guidance in 2018 that was set at 54 million to 56 million tons. Coal sales stood at 54.39 million tons or 5 percent higher than the figure in 2017.
Sales to Southeast Asia countries, including for domestic consumption, accounted for 40 percent of sales in 2018, while exports to East Asian countries excluding China made up 30 percent, followed by India (14 percent) and China (11 percent).
As of December 2018, the engineering, procurement and construction progress at Adaro's two power plant projects handled by PT Bhimasena Power Indonesia and PT Tanjung Power Indonesia -- had reached 60 percent and 99 percent respectively. (bbn)
