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Indonesia coal miners association cut 2020 production target by 15%-20%

Reuters
Updated
Heavy equipment load coal into a truck at PT Adaro Indonesia coal mining in Tabalong

JAKARTA (Reuters) - The Indonesian Coal Miners Association said in a statement on Wednesday members would cut their 2020 production by between 15%-20% from an earlier target to support prices amid low demand due to coronavirus pandemic.

Indonesia had initially set an output target of 550 million tonnes this year.

"Hopefully this production cut can prop up global coal prices by reaching a balance of supply and demand in the global seaborne market," the statement said.

(Reporting by Wilda Asmarini; Writing by Fransiska Nangoy; Editing by Ed Davies)