Golden Energy aims to increase coal output by 19% this year

IDX-listed coal miner PT Golden Energy Mines Tbk has set coal production this year to increase by 19 percent to 6.9 million tons from 5.8 million tons, Kontan reported on Monday.

The paper quoted company Corporate Secretary, Sudin as saying that the higher production was in line with the increasing capacity of the company?s conveyor at Bunati port in Tanah Bumbu Regency, South Kalimantan to 12 million tons from 4 million tons.

Meanwhile, sales volume is protected to increase to 9 million tons from 8.1 million tons last year as the company aims to expand its export markets particularly in China and India. Golden Energy has set up a trading subsidiary in Singapore to help expand its export market.

The company this year allocates capital expenditure of US$9 million, among others used to complete the construction of the conveyor facility, and development of other infrastructure facilities including a telescopic chute to help reduce coal lost and dust from barge loading conveyor.

Golden Energy via subsidiary PT Borneo Indobara owns a 24,100 ha coal concession in Tanah Bumbu Regency, South Kalimantan, and through another subsidiary PT Karya Cemerlang Persada owns a 2,610 ha concession in Bungo Regency, Jambi. (*)