Harum Energy to produce 13.5m tons of coal this year

IDX-listed mining company PT Harum Energy Tbk (HRUM) plans to increase coal production to 13.5 million tons this year, a slight increase from about 12 million tons last year, Investor Daily reported on Wednesday.

?The rise in the production would be quite realistic. Last year the realized production reached 12 million tons,? the company?s corporate secretary Alexandra Mirea said in Jakarta on Tuesday.

He said that the company had allocated about US$15 million in capital expenditure, down from $30 million last year, to support the production target. The capex would be used to finance road maintenance and mining operations as well as to improve port facilities.

The company has recently acquired a 50.5 percent stake in PT Karya Usaha Pertiwi (KUP) from PT Karya Wijaya Aneka Mineral for about $ 2 million or abour Rp 19.17 billion. The money used for the acquisition came from the company?s internal sources. (*)