JAKARTA - PT Resource Alam Indonesia Tbk (KKGI) is optimistic that they can reduce losses at the end of this year as coal prices improve in the global market. This was conveyed by Pintarso Adijanto, President Director of KKGI in a public expose quoted on Tuesday (12/1).
According to him, the increase in average coal price in the fourth quarter of 2020 would reduce the company's losses during the third quarter of 2020, which were recorded at US$ 8.1 million. “The losses experienced at the end of this year could be corrected to US$ 5 million," he said.
He further said that the company was targeting coal sales of 700 thousand metric tons (MT) by the end of this year. The increase in sales volume was due to the increase in coal prices. In the third quarter of 2020, sales were low because of price fluctuations. (LK/VA)