Bayan ramps up 2010 coal production
Thursday, March 18 2010 - 08:58 AM WIB
IDX-listed coal mining group PT Bayan Resources will produce 13-15 million tonnes of coal from its mines in East and South Kalimantan this year, up from around 10 million tonnes in 2009.
Director Alistair McLeod told Petromindo.Com on Thursday that 80-90 percent of its 2010 planned production has been contracted.
Bayan operates eight coal mines in Kalimantan including PT Gunungbayan Pratama Coal, PT Perkasa Inakakerta, PT Wahana Baratama Mining and PT Kaltim Supacoal.
The Company?s shareholders on Thursday agreed to put 50 percent of the Company?s net worth as collateral to obtain loan to expand business. The Company said it plans to acquire more mines to expand its portfolio. (denny)