ATPK to divest 1 out of 2 mining units
Thursday, July 5 2012 - 03:42 PM WIB
IDX-listed PT ATPK Resources Tbk recently stated it targets to produce up to 1.2 million tons until the end of this year, falling from initial target made at the start of this year of 1.8 million tons, from mining units PT Mega Alam Sejahtera (MAS) and PT Sarana Mandiri Utama (SMU).
"This is because we plan to divest our share ownership at SMU, previously targeted to start production at the middle of this year," said Company Director Albert Bangun in Jakarta.
He didn't go into detail regarding the decision, but adding that ATPK will rely from the output of MAS' operation to support its business.
MAS' coal concession is located in Berau Regency, East Kalimantan with 5,023 kcal/kg cv (ADB) coal output specification. It started production in December 2009, recorded a total of 692,000 tons of coal output throughout 2011.
In charge of coal getting operation is mining contractor PT Pacific Prima Coal at the output rate of 100,000 tons per month.
"We plan to increase production capacity to 150,000 tons per month, purchasing additional mother vessel to support our currently 2 units in shipping operation," he said.
All coal output is sold to PT Bara Jaya Utama, its trading unit, who then sells almost all to India.
The total output of the concession in the first quarter of the year was 600,000 tons.
Editing by Er Audy Zandri