Atlas Resources to use most of capex for hauling road construction
Tuesday, April 10 2012 - 02:52 AM WIB
IDX-listed coal miner PT Atlas Resources Tbk (ARII) said that most of its allocated US$71 million capital expenditure this year would be used to complete the construction of hauling road in its coal mining concession in South Sumatra.
?We are finalizing the construction of he hauling road. The first stage is to build a 130-km stretch and on second stage we would continue with further 137-km. Most of the capital expenditure is designated for the hauling road construction,? Atlas Resource?s Director Dono Boestami said as quoted by Kontan daily newspaper.
Atlas operates 14 coal mines in East Kalimantan, South Sumatra and Papua and five mining hubs in Berau, West Kutai, Oku (Ogan Komering Ulu), Muba (Musi Banyuasin) and Papua with some 2.5 million tons of coal output in 2011.
It has stated to target 5.1 million tons of coal output by 2013, and further ramping it up to 9.25 million tons per year in 2015.(*)