PT Kideco Jaya Agung, a coal mining unit of PT Indika Energy, (INDY) has set its coal output target at 34 MnT this year, barely unchanged from its 2018 target, Katadata reported citing Leonardus Herwindo, head of corporate communication of Indika.
The coal market was the main reason for such a flat output target this year, the newspaper reported without providing any details. “Apart from that, we will also abide by existing government regulation,” Herwindo said.
Kideco mostly sells its products to overseas markets such as Korea, Japan, China, India, Hong Kong and Philippines.
Herwindo said that the company has planned to extend its mining permit which will expire in 2023.
Kideco has acquired the so called coal mining concession, better known as PKP2B in Indonesian language.
The government is now working on a plan to change coal permit system, which would allow companies that holds PKP2B to shift to business mining permit holders or IUP, local media reported.
Kideco has a total of 50.921 hectares of coal mining concession area in Paser, East Kalimantan, which has estimated coal reserves of 422 MnT, according to its website.
Kideco, which was acquired by Indika Energy (INDY) in 2017, is is currently majority controlled by Indika Energy.
Leave a Reply