Arutmin records Q1 production increase
Thursday, May 8 2003 - 02:35 AM WIB
South Kalimantan coal producer PT. Arutmin Indonesia produced 3.4 million tons of coal during the first quarter of 2003, slightly higher than previous quarter?s production of 3.12 million tons. The figure, however, was significantly higher than last year?s first quarter production of around 2.5 million tons.
A company official declined to be named said that despite the 18 million tons production target the company made this year, the company is seen to produce at around 15 million tons. ?Thus far, the government had yet approved our production plan, which includes opening new pit and underground mining,? said the official.
Last year, Arutmin produced 10.61 million tons of coal.
Arutmin is 80 percent owned by JSX-listed firm PT. Bumi Resources Tbk, which is controlled by the Bakrie family. Another 20 percent shares of Arutmin is controlled by Bakrie & Brothers. (alex)