Bayan reports 15% production growth in Q1

By Adianto P. Simamora

IDX-listed coal miner group PT Bayan Resources Tbk reported a 14.7 percent increase of coal production to 3.9 million tons in the first quarter this year, compared to 3.4 million tons the same period in 2010, the company said.

The company?s presentation says the recorded output was still lower than the target of between 4.2 million tons and 4.3 million tons in the first quarter.

It said that the company sold some 4.1 million tons of coal in the first three months of this year with the main market of India.

The company expects to produce between 19.4 million tons and 20.4 million tons this year from its seven mines namely Gunung Bayan Pratamacoal (block I and II), Perkasa Inakakerta, Teguh Sinar Abadi, Firman Ketaun Perkasa, Fajar Sakti Prima and Wahana Baratama Mining.

Editing by David Mustakim