Bayan Resources, one major coal producer in Indonesia, registered a year-on-year slump of 24.4% in coal output to 12.1 million tonnes in the first half year.
Its coal sales decreased 3.9% on the year to 17.1 million tonnes from January to June.
The company slashed coal production from end-March to May in response to slump in demand impacted by the COVID-19 pandemic.
Its flagship Tabang coal mine halted production from March 25 to May 14. This resulted in 43.5% yearly drop in the company's coal output to 4.8 million tonnes.
Following output decrease, the company adjusted the 2020 coal output target to 22.5 million tonnes from previous 31-33 million tonnes.
During January-June, net income of the firm came in at $696 million, which was down 18.96% on the year. Coal business accounted for 99.46% of the total net income.
Net profit attributable to shareholders fell 61.2% year on year to $69.23 million.
(Writing by Jessie Jia Editing by Alex Guo)
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