HRUM produces 9.8 million tons of coal in 2011

PT Harum Energy Tbk (HRUM) said that its total production realized throughout last year was between 9.7 and 9.8 million tons.

HRUM's President Director Eddy Sumarsono stated that the production came from its two subsidiaries, namely PT Mahakam Sumber Jaya and PT Santan Batubara.

HRUM's coal reserve is estimated to reach a total of 112.6 million tons with calorific values of coal being between 5,400 kcal/kg and 6,400 kcal/kg.

The company has stated to allocate up to US$ 30 million of capital expenditure from internal funding this year, designating the fund to set up coal port and hauling road.

HRUM is also in the process of selecting new coal mines to acquire. The company recently received syndicated loan facilities amounting to US$ 270 million from DBS Bank Ltd and UOB Ltd of Singapore.

"But we're still on the look out. We haven't signed any (mine purchase) deal yet," said Eddy.(*)