Baramulti spends Rp392.76 million for July exploration

By Tri Subhki Rakgmatullah

IDX-listed coal company PT Baramulti Suksessarana Tbk (BSSR) spent a total Rp392.76 million for exploration activities in July 2013.

The funds were allocated for the companies? two coal mine sites, including Rp225 million for Bara 3 area in Loa Janan, Kutai Kartanegara Regency, East Kalimantan, and Rp167.76 million for BSSR?s subsidiary PT Antang Gunung Meratus (AGM) concession area in Blok 4 Warutas, Tapin Regency, South Kalimantan.

The exploration activities in Bara 3 area were conducted to resume the previous exploration work by using infill drilling method. However, the exploration was halted on July 8, 2013 due to renewal of contracts with the drilling and logging contractors, according to a company statement published on Tuesday.

So far, the exploration in BSSR?s Bara 3 area identified 25 seams with average thickness of 0.63 to 2.37 meters, which includes 8 seams contain coal resources with calorific value 4,986 kcal/kg to 5,708 kcal/kg (GAR). The total measured resource in those 8 seams is 2 million tons.

Meanwhile, exploration activities in AGM area was a continuation of the June exploration with progress. Infill drilling with touch coring method in June resulted 492.25 meters of total depth from six open holes. AGM, a second generation Coal Contract of Work holder, produces coal with calorific value 5,545 kcal/kg (ADB).

Editing by Reiner Simanjuntak