Baramulti to produce 5.5 million tons this year

By Hisky Darmayana

IDX-listed mining firm PT Baramulti Sukses Sarana Tbk (BSSR) expects to produce up to 5.5 million tons of coal this year, all of which are expected to come from the company?s subsidiary PT Antang Gunung Meratus (AGM) which operates a coal mine in South Kalimantan.

?Meanwhile for 2014, we hope AGM will be able to increase production to 7 million tons,? BSSR?s Director Eric Rahardja told Petromindo.com following the company?s shareholders meeting last week.

He said that with the start of the production of BSSR?s coal mine in East Kalimantan, total production is expected to reach 8.5 million tons in 2014. According to him, the East Kalimantan mine will produce about 1.5 million tons.

Between 25 and 45 percent of the production will be sold in the domestic market, and the remainders for exports. ?Our average sale price is about $90-$95 per ton,? he added.

The shareholders meeting approved new composition of the boards of directors and commissioners, as follows:

Board of Commissioners
Chief Commissioner: Athanasius Tossin Suharya
Vice Chief Commissioner: Anil Sardana
Commissioner: Stephen Ignatius Suharya
Commissioner: Agus Kartasasmita
Commissioner: Ramakrishnan Sawmyan
Independent Commissioner Doddy Sumantyawan H.S.
Independent Commissioner:: Noke Kiroyan
Independent Commissioner: Iman Taufik

Board of Directors
President Director: Henry Angkasa
Vice President Director: Dave Minesh
Director : Daniel Suharya
Director: Elia Yuanta
Director : Eric Rahardja
Director : Sanjay Dube
Unaffiliated director : Soelendro Atmosoetjipto

In the new boards, there are four newcomers from Indian company, Tata Power. They include Anil Sardana, Ramakrishnan Sawmyan, Dave Minesh and Sanjay Dube. The change was made following the acquisition of the company?s 26 percent stake by Tata Power last year.

Editing by Adianto P. Simamora