Indo Tambangraya (ITMG) Coal Production Target of up to 18 Million Tons

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PT Indo Tambangraya Megah Tbk (ITMG) targets its coal production volume to reach 17.5 million to 18.8 million tons in 2022.

The company also targets sales volume of 20.5 million to 21.5 million tons. Of the sales volume target, 51% of the selling price has been determined, 37% refers to the coal price index, while the remaining 12% has not been sold.

“Currently, the coal mining sector as the core business contributes significantly to the company’s revenue,” said ITMG President Director Mulianto in his official statement, quoted on Saturday (20/8/2022).

In the first half of this year, the company’s coal production was recorded at 7.7 million tons, while coal sales volume reached 8.1 million tons. In details, 2.3 million tons were marketed to China, 1.8 million tons in Indonesia, 1.3 million tons for Japan, 0.6 million tons for the Philippines, 0.5 million tons for Bangladesh, and other countries. others in East Asia, Southeast Asia, South Asia, and Oceania.

Mulianto said, throughout the first half of 2022, the company’s performance has strengthened, along with coal prices which continue the upward trend as a result of global geopolitical conflicts.

Global coal prices continued to strengthen sharply in the first half of this year, causing the average selling price of coal obtained by ITMG to increase by 134% to USD 175 per tonne, from USD 75 per ton previously.