Antam?s Q1 coal output up 20.43%

By Romel S. Gurky

IDX-listed mining company PT Antam Tbk said that coal production at its subsidiary PT Indonesia Coal Resources (ICR) increased by 20.43 percent to 93,058 tons in the first quarter of this year compared to 77,266 tons in the same January-March period of last year.

The company said in a quarterly report released Thursday that sales volume during the quarter reached 108,140 tons. No comparative figure was provided, but in a preliminary 2013 annual report, it said sales volume last year reached 304,526 tons.

Antam said that ICR?s unaudited revenue during the first quarter was Rp 30 billion.

Antam through ICR produces coal from the Sarolangun coal mine located in Jambi Province. The Non-JORC coal reserves currently stands at 8.25 million tons with the average value of 5,300 until 5,500 Kcal/kg. Antam currently sells its coal to the export as well as domestic markets.

This portal reported last month that the company aims to more than double coal production this year to 1 million tons from 434,572 tons last year.

Editng by Reiner Simanjuntak