Borneo allocates $20m for capital expenditure this year

By Cepi Setiadi

Petromindo|Boim

IDX-listed hard coking coal mining company PT Borneo Lumbung Energi & Metal Tbk will allocate US$20 million for capital expenditure this year.

Borneo's Director, Kenneth Raymond Allan told Petromindo.com on Wednesday that the budget would be allocated for operational expenditure of its subsidiary PT Asmin Koalindo Tuhup, which operates coal concession located on Muara Raya Regency in Central Kalimantan Province

?This expenditure is for supporting the company?s plan to produce about 2.5 million tons of coking coal this year,? he said.

Editing by Reiner Simanjuntak