Coal miner PT Adaro Energy Tbk (ADRO) today reported a 10% increase in coal sales volume in the first half of this year. The miner reached 24.02 million tons in coal sales in 1H 2011 from 21.75 million tons in 1H 2010.
Adaro's production output slightly increased 5% to 22.81 million tons from 21.62 million tons.
"We are on track to achieve our production target of 46 million tons-48 million tonnes as first half coal production increased 5%," said Adaro's management in an official statement published today.
The company reached a 32% in overburden removal to 140.68 million bank cubic meter from 106.66 bcm
PT Saptaindra Sejati (SIS), a wholly owned subsidiary of Adaro Energy focusing in coal contracting business, reported a 26% increase in overburden removal to 76.59 million bcm from 60.81 million bcm.
Coal production rose 12% to 10.48 million tons from 9.32 million tons. Regarding to acquisition of coal deposits, Adaro is currently considering three to four targets in Indonesia.
Disclosure: No position at the stock mentioned above.
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