ITMG seeks government approval for closure of Jorong mine
Thursday, February 25 2016 - 02:23 AM WIB
IDX-listed coal mining company PT Indo Tambangraya Megah Tbk (ITMG) said that the government is currently reviewing the company?s plan to close down the Jorong mine in South Kalimantan.
The company said in a presentation material seen Thursday that reservers at the mine will be depleted by 2018.
The company has previously said it would close down the Jorong mine, operated by subsidiary PT Jorong Barutama Greston, in 2017. It has also said it would end mining operation at Tandung Mayang mine in East Kalimantan, operated by another subsidiary PT Kitadin, in 2016 on similar reason.
ITMG said in the presentation material that the Jorong mine is targeted to produce 1.2 million tons this year. The company has said that total production this year is targeted at 26.9 million tons, a 5.6 percent lower than last year?s realized output.
Editing by Reiner Simanjuntak