Mining Directory

PT Indo Tambangraya Megah Tbk ( ITMG ) aims to export coal to European countries this year. Currently, ITMG's largest sales of coal are in the China, Indonesia and Asia Pacific markets. Currently, his party is still in the exploratory stage and has not been able to elaborate on this plan. Director of Indo Tambangraya Megah, Yulius Kurniawan Gozali, said the plan to expand to the European market is still in the exploratory stage. So he has not been able to detail the plan. "We'll see further developments," Yulius told Kontan.co.id, Thursday (5/1).

The characteristics of the coal produced by ITMG, namely high calorie coal, are indeed suitable for the European market. So far, ITMG's high calorie coal has been sold to China and Japan. Until September 2022, ITMG produced 12.3 million tonnes of coal amidst heavy rainfall. Meanwhile, sales volume reached 13.8 million tons, of which 4.2 million tons were marketed to China, Indonesia (2.9 million tons), Japan (1.9 million tons), Philippines (1.1 million tons). , India (1.0 million tons), and other countries in Asia Pacific.

Throughout 2022, ITMG targets a production volume of between 16.9 million tons-17.1 million tons of coal. The sales volume targeted by ITMG is in the range of 19 million tons to 19.5 million tons.  In January-September 2022, the average selling price of ITMG's coal was US$ 190 per ton, up 113% from US$ 89 per ton at the same time in 2021. This significant increase allowed ITMG to record net sales of US$ 2.6 billion or 98% higher than the same period last year. 

Yulius added that the prospects for the coal business this year are still good. Coal prices will still fluctuate and be maintained at a high level "This is due to the limited supply of coal, continuing geopolitical conflicts, and the high prices of other energy commodities, such as gas," he concluded.

Source: https://investasi.kontan.co.id/news/indo-tambangraya-megah-itmg-berniat-diversifikasi-ekspor-ke-eropa