PT Adaro, Indonesia's second largest coal producer, has said that it expects its coal output to rise by 10.5% next year to 42 mt. Production for this year is estimated at 38 mt.
Adaro produced 18.26 mt of coal in the first half of this year with revenue up about 11% at $725M.
Boy Garibaldi Thohir, Adaro's president director, also announced that the company is renegotiating prices for contracts signed at lower rates in 2006-2007 in line with government plans to tap high coal prices.
Coal prices for power generators in Australia, a benchmark for Asia, rose for the first time in seven weeks to hover at $96/t at the end of October, buoyed by increased demand from Asian utilities.
