Will Indo Tambangraya Megah (ITMG) Respond to Export Demand to Europe?
22 Sep 2022, 09:30 AM
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The energy crisis in Continental Europe has made coal issuer PT Indo Tambangraya Megah Tbk. (ITMG) get coal demand from the "blue continent". Director of Indo Tambangraya Megah Jusnan Ruslan said that several coal requests from Europe had come to his side. However, with current production, ITMG will focus on supplying customers in the Asian market."In 2022, we will focus on our existing customers in Asia, some requests from Europe are already coming to us. However, with the current production, we still prioritize for customers who we have maintained for many years," said Jusnan in the Public Expose Live 2022, Thursday (15/9/2022).Jusnan said, in 2023 ITMG sees the possibility that coal demand will still be good in Asia, so ITMG will focus on protecting customers from the Asian region. "But we don't deny the prospects in Europe are also being studied by us.When demand will improve, in terms of price, we will not let go of these opportunities," he said. He continued, until the first semester of 2022, ITMG has grasped coal sales contracts as much as 88 percent, from the sales target of 20.5 million-21.5 million tons.With this number of contracts, there is still 12 percent of coal left that ITMG must sell until the end of the year. Meanwhile, throughout the first half of 2022, ITMG produced 7.7 million tons of coal.The sales volume reached 8.1 million tons, which was marketed to China 2.3 million tons, Indonesia 1.8 million tons, Japan 1.3 million tons, the Philippines 0.6 million tons, Bangladesh 0.5 million tons, and other countries in East Asia, Southeast, South and Oceania.For 2022, ITMG targets production volumes between 17.5-18.8 million tons with a sales volume of 20.5-21.5 million tons.Source: https://market.bisnis.com/read/20220915/192/1578037/dapat-permintaan-indo-tambangraya-megah-itmg-bakal-ekspor-ke-eropa
