ABM Investama to produce 5.5 MT
Tuesday, April 3 2012 - 10:06 AM WIB
Indonesia listed integrated coal mining company PT ABM Investama Tbk through its coal mining subsidiary, PT Reswara Minergi Hartama (Reswara) is set to produce 5.5 million tons (MT) of coal in 2012, a 152 percent increase compared to last year?s production of around 2.18 million tons .
Reswara operates two coal mining companies namely PT Tunas Inti Abadi (TIA) located in South Kalimantan and PT Media Djaya Bersama (MDB) in Aceh.
"TIA is set to produce 4,5 million tons of coal and the rest of it or one million tons will be mined by the MDB," ABM?s President Director, Andi Djajanegara said on Tuesday, adding that most of the coal production would be exported to India, China, Thailand and Philippines.
TIA and Subham Corporation Pvt. Ltd of India earlier in January 2012 entered into sales deal of 2 million tons of coal.
Andi added that the company is eyeing to reap Rp 9,8 trillion revenue in 2012, increased substantially compared to Rp 6,6 trillion revenue in 2011.
Editing by Adianto P. Simamora