Bayan plans higher production this year
Thursday, March 2 2017 - 01:13 AM WIB
Petromido|Thomas
IDX-listed coal mining firm PT Bayan Resources Tbk (Bayan) plans to increase coal output this year from nearly 12 million tons last year.
Bayan President Director Chin Wai Fong said on Tuesday that the higher output target has been approved by the Ministry of Energy and Mineral Resources, but could not yet disclose the figure as the company must first report it to the Indonesia Stock Exchange.
He said that as part of the higher production plan, the company will resume production at its Gunung Bayan Pratama Coal mine in East Kalimantan Province, which has been suspended in 2015. Gunung Bayan is expected to resume production in the second semester of this year.
Gunung Bayan is a second generation coal contract of work (PKP2B) with total concession area of 24,000 hectares in West Kutai Regency, East Kalimantan.
Editing by Reiner Simanjuntak