Demand Is Still High, ITMG Is Confident That Coal Sales Will Still Be Sold Out In Semester II-2024

Coal (photo: dock. intermediate)

JAKARTA - PT Indo Tambangraya Megah Tbk. (ITMG) is optimistic that coal sales in the second semester of 2024 will still be high.

Director of ITMG, Junius Darmawan, said that his party saw a high demand from the Chinese state because it was about to enter winter.

"And also with India, because of its growing economic growth," he said at the Public Expose, Wednesday, August 28.

Meanwhile, in terms of supply, he said that production from Indonesia is quite high at this time due to the fairly good weather. Meanwhile, production from Australia is quite stable with exports to Chinese countries.

He continued, during the first half of 2024, ITMG was able to sell a volume of 10.8 million tons. With the largest exports to Chinese countries of 40 percent and Japan 17 percent. Meanwhile, domestic sales amounted to 22 percent.

Junius said ITMG is targeting sales targets in 2024 in the range of 24.9 to 25.6 million tons.

Which is currently 44 percent sold. While 35 percent still use the price when delivery is made. And the remaining 21 percent has not been sold, "continued Junius.

In terms of operations, the company continued, it targets total production of 19.5 to 20.2 million tons for 2024. During the first half of 2024, the company has produced 9.3 million tons or 46 percent of total production. "The company targets an increase in production targets in the third quarter, which is 5.6 million tons, to support an increase in sales volume in the second half of this year," he concluded.