Indo Tambangraya (ITMG) Targets Coal Production of 20.2 Million Tons in 2024

Jakarta,- PT Indo Tambangraya Megah Tbk (ITMG) is targeting coal production of up to 20.2 million tons in 2024. This production target is an increase from 2023 of 16.9 million tons. 

ITMG Director of Corporate Communications and Investor Relations Yulius Gozali said ITMG's production target in 2024 was set at 19.5 million tons to 20.2 million tons. This production target is up from 2023 of 16.9 million tons. 

"The increase in production is driven by the Graha Panca Karsa (GPK) and Tepian Indah Sukses (TIS) mines, which will start operating at the end of March or early April 2024," said Yulius, in Jakarta, Thursday (29/2/2024).  

Yulius said that the two new ITMG mines will contribute 1.4 million tons to ITMG's total production. In details, GPK is targeted to produce 1 million tons in 2024, and TIS 0.4 million tons in 2024.

Yulius also explained that in the first quarter of 2024, ITMG targets coal production of 4.6 million tons.

 Meanwhile, ITMG targets sales of 24.9 million tons to 25.6 million tons. According to him, of the sales target, 39% of the coal price has been set by ITMG, 6% will follow the coal index price, and the remaining 55% has not been sold. 

In previous Bisnis news, ITMG management explained that coal production volume in 2023 increased slightly by 1% to 16.9 million tons. 

Previously, in 2022, ITMG produced 16.6 million tons of coal.  "Coal production volume reached 16.9 million tons in 2023," wrote ITMG management, Thursday (22/2/2024).  

Meanwhile, coal sales in 2023 rose 11% to 20.9 million tons, from 18.9 million tons in 2023.

Sources : Feb 29.24

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