This was because of a lower average selling price, which resulted from the drop in the average Indonesian Coal Index price compared to a year ago, as well as lower sales quantity due to poor weather conditions.
Geo Energy said its results were impacted by the continuously weaker coal prices amid soft demand from China. Moreover, poor weather and rainy conditions in the second quarter resulted in unfavourable conditions in the TBR coal mine, where pit access was slippery and restricted by water.But the weather has improved in mid-June and normal production and delivery of coal have since resumed, while coal loading activity in Kalimantan has also increased, Geo Energy said.
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