Golden Energy to increase coal output by 33%
Friday, May 29 2015 - 01:26 AM WIB
IDX-listed coal mining firm PT Golden Energy Mines Tbk (GEMS) said that coal production this year is targeted to increase by about 33 percent to 8.8 million tons from 6.6 million tons last year.
The company said in an annual report recently published that coal sales volume is targeted to increase to 13 million tons from 9 million tons last year.
GEMS said that it was also seeking new export markets particularly in the Southeast Asia region including the Philippines, Myanmar, and Vietnam.
Capital expenditure for this year is planned at around Rp 95 billion particularly for construction of infrastructure facilities, land acquisition, and road repair and expansion.
GEMS through three subsidiaries including PT Borneo Indobara, PT Kuansing Inti Makmur and PT Trisula Kencana Sakti hold a combined coal concessions of 38,165 hectares spread in South Kalimantan, Central Kalimantan, and Jambi provinces.
Editing by Reiner Simanjuntak