PT Adaro Energy Indonesia Tbk (ADRO ) will still maintain its existing market share amidst the emerging opportunities for coal demand from the European Union. ADRO's Head of Corporate Communication, Febriati Nadira, said that the majority of ADRO's customers are in the Asia Pacific region with contracted volumes.
"Adaro will also always follow the DMO (domestic market obligation) provisions and we are still maintaining exports in Southeast Asia, China, East Asia, India, New Zealand," said the woman who is familiar with Ira's greeting to Kontan.co.id (10/4). In line with the unchanged sales plan, ADRO does not plan to submit a revised Work Plan and Budget (RKAB) to hoist the coal production plan. ADRO's work plan for the 2022 fiscal year is still the same, namely pursuing a production target of 58 million - 60 million tons of coal with a stripping ratio of 4.1x in 2022.
With this target, ADRO is targeting operating income before interest, taxes, depreciation and amortization aka Earning Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of US$ 1.9 billion – US$ 2.2 billion. "The production guidelines for 2022 have not changed," said Ira. Previously, the European Union (EU) approved the Russian coal embargo on Thursday (7/4). This policy creates new market opportunities for Indonesia.
According to information obtained by Kontan.co.id, a number of explorations of coal buying and selling transactions between suppliers in Indonesia and buyers in the European Union are reported to have taken place. However, Kontan.co.id has not yet pocketed the names of any local coal companies that have explored potential buyers in the European Union.
On the other hand, although new demand opportunities have emerged from European Union countries, the Ministry of Energy and Mineral Resources (ESDM) noted that no coal company has submitted a revised RKAB to increase production targets. However, the Ministry of Energy and Mineral Resources is ready to process a request for a revised RKAB if a coal company submits it.
"Later, it will be evaluated according to the FS (feasibility study) and the AMDAL (Analysis of Environmental Impacts)," said Director of Coal Development and Exploitation of the Ministry of Energy and Mineral Resources, Lana Saria when contacted by Kontan.co.id (10/4).
This year, the Ministry of Energy and Mineral Resources has launched a coal production plan of 663 million tons. From the production plan, the government set a coal DMO plan of 166 million tons.
So far, Lana admitted that she could not confirm whether in the future the Ministry of Energy and Mineral Resources might change/increase this production plan in connection with the emergence of coal demand from the European Union, or not. "We'll see how the directions are, I can't speak right now," said Lana.
Image source: www.industri.kontan.co.id
Source Link: https://industri.kontan.co.id/news/embargo-batubara-rusia-adaro-energy-adro-masih-pertahankan-pasar-eksisting
