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Monday, 03 November 14
ADARO PRODUCED 41.90MT OF COAL FOR FIRST 9 MONTHS OF 2014

COALspot.com: Adaro’s coal production in the third quarter reached 14.03 Mt, a 2% increase compared to the same period of last year. According to Adaro, this increase was mainly due to a combination of sound contractors’ performance and good weather conditions.

Adaro has also sold 14.13Mt of coal during the quarter as Adaro continued to see solid demand for their coal, a report posted on company's website says.

At the end of 9M14, Adaro's coal production reached 41.90Mt. Adaro also planning to produce 54Mt to 56Mt for the year and coal sold reached 42.37Mt.

Adaro also produced 470k mt of Balangan Coal from Balangan’s operations, and sold 330K mt to customers in India and Thailand during the quarter. As Balangan coal continued to receive interest from a range of customers, Adaro plans to produce up to 1Mt of Balangan Coal for this year, the report says.

Adaro's overburden removal also increased 13% to 92.15 million bank cubic meter (Mbcm) for the same period.

According to Adaro, the company able to maintains strip ratio at a relatively flat level for two years in a row without harming Adaro's long-term mine plan due to the investment that, Adaro made to increase overburden removal during higher coal price environment.

"Despite the continued weakness in coal price, Adaro is doing relatively well and remains on track to achieve this year’s guidance and long-term objectives of creating maximum sustainability value from Indonesian coal," says Adaro.

In 3Q14, Adaro has increased barging 5% to 13.21Mt, and loading was increased 3% to 13.92Mt. Adaro also loaded 67% of tonnage through floating cranes, 12% through self-geared vessels and 5% through the IBT terminal, with 16% barged directly to domestic customers.

Adaro claimed that, they have spent US$602,805 on exploration in the quarter, a 10% decrease from US$671,153 on the same period last year.



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