ITMG hopes to complete hauling road project in December
Monday, November 13 2017 - 02:06 AM WIB
IDX-listed coal mining company PT Indo Tambangraya Megah Tbk (ITMG) said it hopes to complete construction of a 100-km hauling road connecting its PT Bharinto Ekatama coal concession and PT Trubaindo concession in Central Kalimantan with the Bunyu Port in East Kalimantan.
This was said by the company in a statement last week, but did not provide details. The statement also said that coal production in the third quarter of this year was slightly lower than target due to weather condition at Trubaindo area.
In July, the company?s Finance Director Yulius Gozali told this portal that Bharinto Ekatama will be the main contributor to the group?s coal production in the next four to five years.
?We are only exploiting one third of the concession. The concession has up to 200 million tons of coal resources and our production (from Bharinto) is only 2.7 million tons for 2017,? he said at the time.
Currently, more than 50 percent of ITMG?s total coal production is contributed by East Kalimantan subsidiary PT Indominco Mandiri. ITMG sets coal production target of 25.5 million tons in 2017 and Indominco?s production target this year is expected to reach 15.3 million tons.
Editing by Reiner Simanjuntak