Ithaca Resources achieved target in Q1

By Cepi Setiadi

Coal mining company PT Ithaca Resources? subsidiary PT Nusantara Berau Coal met its target of producing 300,000 tons in the first quarter of the year from its coal concession in Berau regency, North Kalimantan.

Liberty Simanjuntak, Corporate Secretary of Ithaca Resources told Petromindo.com on Monday that the company sticks to its target of producing 1.1 million tons to 1.2 million tons this year.

"In the first quarter, we produced around 300,000 tons. We are still on the track to achieve our annual production target. The problem we are facing now is still the low price of the commodity," he said adding that most of the firm?s coal production is exported to China and India.

"We delivered two vessels each month each with the capacity of 50,000 tons," he said. Liberty added that the company is currently building a new hauling road at Pit 1 and Pit 2 of the mine to support hauling activities.

Editing by Johannes Simbolon