Bayan?s GBP coal mine to produce up to 400,000 tons this year

By Thomas Sembiring

IDX-listed coal mining firm PT Bayan Resources Tbk (Bayan) plans to produce between 200,000 and 400,000 tons of coal from its Gunung Bayan Pratama (GBP) coal mine in East Kalimantan Province this year.

This was said by a company source to Petromindo.com on Monday, but did not provide further details.

Bayan suspended production in the GBP coal mine in 2015 due to the weak coal price environment at the time, and problem of overlapping permit with a forestry concession holder.

Bayan President Director Chin Wai Fong told this portal earlier this year that the GBP mine is expected to resume production in the second semester of the year.

GBP holds a second generation coal contract of work with total concession area of 24,000 hectares in West Kutai Regency, East Kalimantan.

Fong also said earlier this month that Bayan Group plans to increase coal production this year to between 16 million and 18 million tons from realized output of 9.8 million tons particularly on expansion at its Tabang mine, also in East Kalimantan.

Editing by Reiner Simanjuntak