Antam?s Q3 coal output plunges by more than 51 percent

By Ruli Setiawan

IDX-listed mining firm PT Aneka Tambang (Antam) said that its coal production during the third quarter of this year dropped by more than 51 percent to 45,090 tons from 93,024 tons in the same period of last year.

The company said in a quarterly report obtained Friday that coal production during the first nine-month period of this year totaled 331,689 tons, down from 485,818 tons in the same period of last year.

Meanwhile, 2013 third quarter sales volume was 43,771 tons, drastically fell from 262,276 tons in the same quarter of last year.

Antam, through its subsidiary PT Indonesia Coal Resources, 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.

Editing by Reiner Simanjuntak