By Thomas Sembiring
IDX-listed diversified energy company PT Adaro Energy Tbk (IDX: ADRO) said its coking coal production in the first quarter (Q1) of 2023 was within target, representing 25 percent of the full-year target of 4.6 million tonnes (Mt), President Director of Adaro Energy Garibaldi Thohir said.
He, however, did not give details of the coking coal production. The company produced coking coal through its subsidiary PT Adaro Minerals Tbk (IDX:ADMR).
In 2022, ADMR produced coking coal of 3.37 Mt, increased 47 percent from the previous year's production of 2.30 Mt.
Read also : Adaro Minerals targets sharp increase in coal sales for 2023
The 2023 coking coal target represents 36.5 percent higher than realized coking coal production in 2022.
In the 2022 financial year, the company sold 85 percent of its coal output to three countries,i.e. Japan, China and India. The company expects to tap new markets in 2023 as well as increase its sales volume to the domestic market.
The company targets a strip ratio of 3.8x in 2023, compared to 2.47x in 2022, as the company plans to restart the operation of PT Lahai Coal, which has a higher strip ratio compared with PT Maruwai Coal.
Editing by Roffie Kurniawan
