Indonesia’s Indika Energy, an integrated energy company said that it would target to increase its coal production to 31 million tons this year from 29.1 million tons in 2010.

The company indicates that it currently owns 651 million tons of proven coal reserves and 1.4 billion tons of potential coal reserves.

Also, according to data released by Indika Energy, its production in Q1 of this year totaled 7.6 million tons with the prices of US$62.5/ton. Its Q1 production has reached 24.6% of its yearly target.

Mr. Arsjad, the Present Director of Indika Energy said the company has confidence to achieve the production target. He added that 80% of the 31 million tons has been ordered under the contract and the rest 20% would be sold to the spot market.