REPUBLIKA.CO.ID, JAKARTA -- Indonesia's second-largest coal producer, PT Adaro Energy Tbk experienced three percent increase on coal production, from 13.52 million tonnes in second quarter of 2013 to 13.86 million tonnes in same period in 2014. According to Cameron Tough, Adaro's Head of Investor Relations & Corporate Secretary, although the coal market is still weak, but the company still gets high demand during this second quarter.
Adaro could sell 14.47 million tonnes of coal, an increase of four percent compared to last year.
"We remain focus on improving the efficiency and productivity of the operation, maintaining coal supply for our customers and a solid balance sheet," Though said on Tuesday.
In Q2 2014, company's new coal mining - Balangan in South Kalimantan - began its commercial operations by selling 53,274 tonnes of coal to customers in Thailand out of total production of 77,335 tonnes. Though explained that Balangan was produced by PT Semesta Centramas (SCM), one of three companies holding licenses with 75 percent of ownership in 2013. Balangan has the characteristic of low pollutants levels.
Adaro's market capitalization has reached 3.27 billion USD per June 2014, an increase of 18 percent compared to 2.76 billion USD per March 2014. Company's current stock price is in range of 940 IDR up to 1,325 IDR per sheet.
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