Harum delays TBH production
Friday, April 15 2016 - 01:21 AM WIB
IDX-listed coal mining firm PT Harum Energy Tbk has decided to delay commencement of production at its PT Tambang Batubara Harum (TBH) concession by another year due to declining coal prices.
The company said in a report filed with the IDX on Wednesday that production from TBH will now be delayed to 2017, and funds initially allocated to develop infrastructures at TBH will be shifted to its only producing mine PT Mahakam Sumber Jaya (MSJ).
Harum plans to produce 3.5 million tons of coal from MSJ this year, slightly down from last year?s production of 3.6 million tonnes.
Harum has also put its other producing mine PT Santan Batubara under temporary suspension since 2014. Harum has four mines in East Kalimantan. Another mine is PT Karya Usaha Pertiwi which has not started production yet.
Editing by Reiner Simanjuntak