Bayan reports lower Q1 coal production

By Romel S. Gurky

IDX-listed coal mining firm PT Bayan Resources Tbk said that coal production in the first quarter of this year dropped to 1.2 million tons from 2.2 million tons in the corresponding period of last year.

The company, however, said in a presentation material seen Tuesday that sales volume in the January-March period of this year slightly increased to 2.1 million tons from 2 million tons in the same three-month period of last year.

Bayan, which operates coal mines in East and South Kalimantan provinces, has set coal production target of 11-14 million tons this year and sales volume target of 13-16 million tons.

The company has allocated US$35-47 million for capital expenditure this year.

Editing by Reiner Simanjuntak