Harum sees flat output next year
Saturday, November 16 2013 - 02:48 AM WIB
IDX-listed coal mining firm PT Harum Energy Tbk expects production next year to be about the same with this year?s estimate of 12.5 million tons.
?Of this production (2013 output), 10 million tons come from the Mahakam Sumber Jaya (MSJ) concession, and 2.5 million tons from Santan Batubara (SB) concession, both in East Kalimantan. Next year, probably will be the same with this year?s production,? President Director Ray A. Gunara told Petromindo.com Friday.
He said that sales volume next year is projected to be about 10 percent higher than production volume as the company also purchases coal from third parties.
Ray added that China and South Korea would remain the company?s markets next year.
Elsewhere, Ray was quoted by Investor Daily as saying that his company plans to cut down 2014 capital expenditure to US$10 million from $15 million considering the lingering weak coal prices.
Editing by Reiner Simanjuntak