Indonesia’ Adaro Energy lifts 1Q sales

摘要

Indonesian coal producer Adaro Energy is maintaining its 2020 output target at 54mn-58mn t, despite expectations that the market will face challenges for the rest of this year because of a subdued global economy. Adaro raised its coal sales to 14.39mn t during January- March from 13.35mn t a year earlier, with the increase coming despite the market facing “challenging conditions”. Sales were slightly lower than 14.52mn t during the October-December 2019 quarter. The company produced 14.41mn t of coal during January-March this year, up by 5pc from a year earlier. Southeast Asia was the biggest buyer of Adaro’s coal for January-March, accounting for 47pc of the company’s sales.