Berau upbeat to achieve production target
Wednesday, October 3 2012 - 01:44 AM WIB
PT Berau Coal Energy Tbk, one of Indonesia?s major coal producers, is upbeat it will achieve its production target of 21 million tons and sales target of 15.6 million tons this year, given the high production recorded in the January to September period.
?We are optimistic that production and sales target could be achieved. But we are still unable to estimate total revenues,? the company?s president director Rosan P. Roeslani told Petromindo.com on Tuesday.
About the investigative report which will be conducted by Bumi Plc against Berau, Rosan said that the London-based parent company Bumi Plc had not yet begun the audit. He also did not know why Bumi Plc issued a press release unveiling alleged irregularities.
?That is why we have sent a letter to Bumi Plc to seek explanation about the alleged irregularities,? Rosan added.
Bumi Plc, the London-listed Indonesian coal venture founded by Nathaniel Rothschild announced recently that it would soon begin a probe into alleged irregularities at its Indonesian subsidiaries Bumi Resources and Berau Coal.
The probe will focus on ?extensive? development funds at Bumi Resources and an asset in Berau Coal, which were marked down to zero in the accounts of Bumi Plc as of Dec. 31, the company said.
Editing by Adianto P. Simamora