ABM Investama Q1 coal output at 1.2-1.3m tons

IDX-listed PT ABM Investama Tbk said that coal production in the first quarter of this year is estimated to reach 1.2-1.3 million tons, solely contributed by its South Kalimantan concession run by subsidiary PT Tunas Inti Abadi (TIA).

?Production so far is on track. The full-year production target for the South Kalimantan mine is about 5 million tons,? said Director of ABM Yovie Priadi to Kontan daily. The company did not provide comparative production figure for same period of last year.

During the January-March 2014 period, the coal mining business booked a revenue of US$104.89 million, accounting for 60.78 percent of the company?s total first quarter revenue of $172.58 million.

To further increase revenue from coal mining business, ABM has set a target for its newly-producing coal mines in Aceh run by subsidiary PT Media Djaya Bersama to produce 2-2.5 million tons this year. ?Production from the Aceh mines are not yet maximal because they have just been in operation for a year. We hope production can be maximal next year,? Yovie said. (*)