Bara Jaya director tenders resignation

By Ruli Setiawan

IDX-listed coal mining firm PT Bara Jaya Internasional Tbk said that company Director Albert J. Bangun had on Tuesday tendered his resignation.

The company said in a statement Wednesday that the resignation would be discussed at an upcoming shareholders meeting on June 29.

Bara Jaya, formerly known as PT ATPK Resources Tbk, has two coal mining subsidiaries PT Mega Alam Sejahtera (MAS) and PT Sarana Mandiri Utama. MAS was the only producing asset before the company suspended operation earlier this year due to the price drop. The company said earlier it would only resume production once coal price has recovered.

MAS produced low rank coal 4,500 - 5,000 kcal/kg (adb) with total moisture 40 percent. MAS owns 41.5 million tons of coal resources.

Editing by Reiner Simanjuntak