Jul 29, 2011

Adaro Energy 1H coal sales up 10%

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
Coal contracting 
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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