Dear Capital Market Participants,
Adaro Energy has today lodged to the Indonesia Stock Exchange and OJK our Quarterly Activities Report for the second quarter of 2014. We filed this report slightly later than one month after the end of the quarter, in respect of the Eid Mubarak holiday last week.
Highlights of the quarter:
- We produced 13.84 million tonnes (Mt) during the quarter. We are on track to achieve our production guidance of 54Mt to 56Mt for 2014.
- We continued to see solid demand for our coal during the quarter. We sold 14.47Mt, a 4% increase compared to the previous year.
- During the quarter, we started commercial production at Balangan Coal with 53,274 tonnes sold to a customer in Thailand. We expect to complete revised estimates of resources and reserves in accordance with JORC by the end of 2014.
- We removed 81.31 million bank cubic meter (Mbcm) of overburden, a 2% increase compared to the previous year. AI’s actual consolidated strip ratio during the quarter was 5.85x as we were able to remove more overburden due to the end of the wet season. AI is on track to achieve its consolidated planned strip ratio of 5.78x for 2014.
Download 2Q14 Quarterly Activities Report English here
Download 2Q14 Quarterly Activities Report Bahasa Indonesia here
Yours faithfully,
Cameron Tough
Head of Investor Relations & Corporate Secretary
Financial Media Contact: investor.relations@ptadaro.com
Public & General Media Contact: Corporate.Secretary@ptadaro.com