Central Omega sees ore sales quadruple in 2013
Thursday, January 26 2012 - 02:55 AM WIB
Indonesia-listed mining firm PT Central Omega Resources Tbk reported on Thursday that it has sold 1.33 million tons of nickel ore from its mines in Central and Southeast Sulawesi in 2011 and planned to increase sales volume by more than 400 percent in 2013.
The company is targeting ore sales of 3.6 million tons this year, ramping up to 6 million tons in 2013.
Revenue from 2011 ore sales reached Rp.485 billion or about US$53 million.
The company currently has two producing mines, namely PT. Bumi Konawe Abadi in Southeast Sulawesi which produces at a capacity of 200,000 tons of ore per month and has started export since March last year, and PT Mulia Pacific Resources (MPR) in Central Sulawesi with production capacity of 100,000 tons ore per month and has started ore export since July last year.
The company?s other subsidiary PT Itamatra Nusantara, which mines for nickel ore in Morowali, Central Sulawesi, is expected to start production in the third quarter of this year, the company said without disclosing production capacity.
Other than nickel mines, the company also has two copper, exploration prospects in East Nusa Tenggara and North Maluku.
The company also said it planned to build nickel smelter to anticipate nickel ore export prohibition, which is expected to take place in 2014.
Editing by David Mustakim