Coal issuer PT Indika Energy Tbk. (INDY) targets coal production to reach up to 34 million tons next year. This target is still the same as this year's production.
Indika Energy's Head of Corporate Communication Ricky Fernando said Kideco had submitted the RKAB to the Ministry of Energy and Mineral Resources (ESDM).
"Kideco's production plan in 2023 is still waiting for approval from the RKAB, but it is expected to be around 31-34 million tons," Ricky said to Bisnis, Tuesday (27/12/2022).
For information, INDY's coal production is carried out through its subsidiary, PT Kideco Jaya Agung. In 2021, Kideco was recorded to be able to produce as much as 35.7 million tons of coal.
As for this year, Kideco lowered its coal production target from the realization of 2021 to 34 million tons.
Furthermore, INDY projects coal prices in 2023 to remain at positive levels.
Previously, Ricky said INDY saw that the coal business until the end of 2022 is likely to remain stable. According to him, this is supported by high coal prices and is likely to remain at a high level until the end of this year.
However, he said the main challenge in this sector is the high rainfall until the end of 2022.
Image source: CEO Grup Indika EnergyAzis Armand - Istimewa.
