ITM coal reserves reach 416 million tons in 2011
Friday, March 9 2012 - 11:50 AM WIB
Indonesia-listed coal miner PT Indo Tambangraya Megah (ITM), a unit of Thai energy conglomerate Banpu Plc, reported on Friday that its total coal reserves reached 416.9 million tons in 2011 with its new wholly subsidiary PT Bharinto Ekatama has 112.4 million tons.
The company in its filing to the Indonesia Stock Exchange said that the report of coal resources and reserves of its five subsidiaries? were made based on estimation using the Australision Code for Reporting Mineral Resources and Ore Reserves (JORC Code).
?Total marketable reserves have increased from 335.6 million tons as of 31 December 2010 to 416.9 million tons in 2011, or by 81.3 million tons,? the company said.
ITM affiliated companies are PT Indominco Mandiri, PT Trubaindo Coal Mining, PT Kitadin and PT Bharinto which are located in East Kalimantan and PT Jorong Barutama Greston in South Kalimantan.
It said that the company?s five subsidiaries have resources (measured resources plus indicated resources) of 1,626 million tons as of December 31, 2011.
The company also reported that its coal sales in 2011 reached 24.7 million tons of which coal sales from Indominco contributed 14.9 million tons.
Editing by Adianto P. Simamora