Bumi sees newly acquired Kalimantan mine to produce 7MT

IDX-listed coal mining giant Bumi Resources said its newly acquired mining company PT.Fajar Bumi Sakti (FBS) would produce 2.3 million tonnes of coal in 2009, with planning to ramp up production to 7 million in 2012.

Bumi has agreed to acquire 77 percent indirect stake in FBS early this year for Rp.2.4 trillion (US$=RP.11, 000) which would be paid in stages within two years.

The company said in a presentation on Wednesday that FBS has reserves base of 98 million tonnes.

FBS obtained its initial Coal Mining Rights in 1981, located in Loa Ulung, Kutai Kartanegara. In 2006 and 2007, FBS acquired 95% shares of PT Guruh Putera Bersama and PT Ade Putra Tanrejang with the concession area are 4,008 ha and 4,061 ha, respectively which are located in Tabang.

FBS produces bituminous coal called Kutai Coal from Loa Ulung deposits (6,538 kcal adb).Sub bituminous coal production will commence in 2009 from Tabang deposits(5,430 kcal adb).(alex)