REPUBLIKA.CO.ID, JAKARTA - A major coal mining company, PT Adaro Energy, has recorded the highest quantity of thermal coal production to 24.94 million tonnes in second quarter of 2013.
"We are in the right path to achieve our target for 2013 as well as long term goals," President Director of Adaro Energy, Garibaldi Thohir said recently.
Until the first half of 2013, coal production in Paringin Mine jumped 436 percent to 2.52 million tonnes, while Tutupan Mine was stable at 18.82 million tonnes. A decline was occured in Wara Mine about three percent to 3.61 million tonnes.
Sales volume grew six percent to 25 million tonnes. Adaro Energy is now in good position to achieve its production guidance in range of 50 million to 53 million tonnes by the end of 2013. Company's operating income reached 1.5 billion USD by the end of June 2013, decreased about 18 percent compared to same period in the last year. Company recorded net profit of 116 million USD.
Adaro also managed to reduce cost of revenue 5.4 percent at level 1.228 billion USD. At same time, company also reduced cash cost about seven percent at level 35.51 USD per ton.
Chief Financial Officer in Adaro Energy, David Tendian said the company had oversupply after investment was declining for years and made global coal at low prices. However, the price of low calorie coal remained strong.
"With solid capital structure and long debt maturity schedule, we believe we can pass this difficult times. We also have healthy cash position and strong liquidity," Tendian said.
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