Atlas Resources targets double output
Friday, June 15 2012 - 09:55 AM WIB
IDX-listed coal producer, PT Atlas Resources Tbk targets to double its coal production this year from about 1.2 million tons in 2011.
"We expect to produce about 2.5 million ton of coal this year," Director and Corporate Secretary Atlas Resources Dono Boestami, told press conference on Friday.
The company has produced about 350,694 tons from its several coal mines in Kalimantan and South Sumatra and spent about US$ 25 million of capital expenditure in the first quarter.
Dono said that most of the spent capex was used for financing the development of coal mine in Muba, South Sumatra and also the development several mines in Kalimantan.
The company budgets US$ 68 million of capital expenditure this year.
Editing by Adianto P. Simamora