Antam reports coal production, sales from Jambi mine
Monday, August 1 2011 - 12:31 AM WIB
IDX-listed state miner PT Aneka Tambang (Persero) (Antam) reported on Friday coal production 215,000 tonnes in the second quarter of this year with sales recorded at 195,000 tonnes.
Revenue from coal sales reached Rp.26 billion, or around US$3 million, the company said, adding that all production went to domestic market.
This is the first time the state miner, which mainly involves in nickel, gold and bauxite mining reported coal sales in its quarterly report.
Antam unit PT Indonesia Coal Resources acquired the coal mine - which is located in Sarolangun, Jambi province - earlier this year for Rp.92.5 billion (US$=Rp.8,500).
The mine's coal reserves are estimated at 8.25 million tonnes with calorific value ranging between 5,300 to 5,500 Kcal/kg.
The company said early this year that the mine?s production will be around 500,000 tonnes per year. (alex)