ITMG says reserves at Jorong Barutama mine to be depleted mid-2017
Monday, September 7 2015 - 02:42 AM WIB
By Romel S. Gurky
IDX-listed coal miner PT Indo Tambangraya Megah Tbk (ITMG) reiterated plan to close down its mine in South Kalimantan run by subsidiary PT Jorong Barutama Greston (JBG) in 2017 as reserves will be fully depleted by mid 2017.
?(The company is) in the process of preparation (of) mine closure plan,? ITMG said in a recent presentation.
The company said that coal production this year from the JBG concession is estimated at 1.3 million tons. ?Second quarter 2015 production achieved as according to target (0.3 million tons),? the company said.
Editing by Reiner Simanjuntak